Emira is a diversified real estate investment trust (“REIT”) company, with a property portfolio of predominantly South African assets, and a growing component of offshore assets.
Emira Property Fund Competitors
Price History & Performance
|Historical stock prices|
|Current Share Price||R9.88|
|52 Week High||R5.60|
|52 Week Low||R10.53|
|1 Month Change||11.89%|
|3 Month Change||6.69%|
|1 Year Change||69.76%|
|3 Year Change||-34.53%|
|5 Year Change||-30.47%|
|Change since IPO||86.41%|
Recent News & Updates
|EMI||ZA REITs||ZA Market|
Return vs Industry: EMI exceeded the ZA REITs industry which returned 38.4% over the past year.
Return vs Market: EMI exceeded the ZA Market which returned 20.7% over the past year.
Stable Share Price: EMI is less volatile than 75% of ZA stocks over the past 3 months, typically moving +/- 4% a week.
Volatility Over Time: EMI's weekly volatility (4%) has been stable over the past year.
About the Company
Emira is a diversified real estate investment trust (“REIT”) company, with a property portfolio of predominantly South African assets, and a growing component of offshore assets. The Company listed on the JSE in November 2003, in the real estate investment trusts sector. In line with its strategic objectives, Emira’s property portfolio spans multiple sectors, namely office, retail and industrial, with a new element of residential.
Emira Property Fund Fundamentals Summary
|EMI fundamental statistics|
Is EMI overvalued?See Fair Value and valuation analysis
Earnings & Revenue
|EMI income statement (TTM)|
|Cost of Revenue||R691.03m|
Last Reported Earnings
Jun 30, 2021
Next Earnings Date
|Earnings per share (EPS)||0.97|
|Net Profit Margin||24.69%|
How did EMI perform over the long term?See historical performance and comparison
12.0%Current Dividend Yield
Is Emira Property Fund undervalued compared to its fair value and its price relative to the market?
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: EMI (ZAR9.88) is trading below our estimate of fair value (ZAR11.16)
Significantly Below Fair Value: EMI is trading below fair value, but not by a significant amount.
Price To Earnings Ratio
PE vs Industry: EMI is poor value based on its PE Ratio (10.2x) compared to the ZA REITs industry average (9.8x).
PE vs Market: EMI is good value based on its PE Ratio (10.2x) compared to the ZA market (11.5x).
Price to Earnings Growth Ratio
PEG Ratio: Insufficient data to calculate EMI's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: EMI's PB Ratio (0.7x) is in line with the ZA REITs industry average.
How is Emira Property Fund forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?
Forecasted annual revenue growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: Insufficient data to determine if EMI's forecast earnings growth is above the savings rate (8.8%).
Earnings vs Market: Insufficient data to determine if EMI's earnings are forecast to grow faster than the ZA market
High Growth Earnings: Insufficient data to determine if earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: EMI's revenue is expected to decline over the next 3 years (-7.6% per year).
High Growth Revenue: EMI's revenue is forecast to decline over the next 3 years (-7.6% per year).
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: EMI's Return on Equity is forecast to be low in 3 years time (8.4%).
How has Emira Property Fund performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: EMI has a large one-off loss of ZAR564.7M impacting its June 30 2021 financial results.
Growing Profit Margin: EMI became profitable in the past.
Past Earnings Growth Analysis
Earnings Trend: EMI's earnings have declined by 33.6% per year over the past 5 years.
Accelerating Growth: EMI has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.
Earnings vs Industry: EMI has become profitable in the last year, making it difficult to compare its past year earnings growth to the REITs industry (132.9%).
Return on Equity
High ROE: EMI's Return on Equity (6.3%) is considered low.
How is Emira Property Fund's financial position?
Financial Position Analysis
Short Term Liabilities: EMI's short term assets (ZAR534.1M) do not cover its short term liabilities (ZAR1.2B).
Long Term Liabilities: EMI's short term assets (ZAR534.1M) do not cover its long term liabilities (ZAR4.7B).
Debt to Equity History and Analysis
Debt Level: EMI's debt to equity ratio (73.7%) is considered high.
Reducing Debt: EMI's debt to equity ratio has increased from 56.8% to 73.7% over the past 5 years.
Debt Coverage: EMI's debt is not well covered by operating cash flow (7.6%).
Interest Coverage: EMI earns more interest than it pays, so coverage of interest payments is not a concern.
What is Emira Property Fund current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: EMI's dividend (12.01%) is higher than the bottom 25% of dividend payers in the ZA market (3.05%).
High Dividend: EMI's dividend (12.01%) is in the top 25% of dividend payers in the ZA market (8.06%)
Stability and Growth of Payments
Stable Dividend: EMI's dividend payments have been volatile in the past 10 years.
Growing Dividend: EMI's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: At its current payout ratio (97.4%), EMI's payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: EMI's dividends in 3 years are forecast to be covered by earnings (89.7% payout ratio).
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Geoff Jennett (52 yo)
Mr. Geoffrey Michael Jennett, also known as Geoff, B.Com., BCom (Hons), HDipAcc, C.A. (SA), has been the Chief Executive Officer at Emira Property Fund Limited since September 1, 2015. He joined Emiraon on...
CEO Compensation Analysis
Compensation vs Market: Geoff's total compensation ($USD724.24K) is about average for companies of similar size in the ZA market ($USD728.25K).
Compensation vs Earnings: Geoff's compensation has been consistent with company performance over the past year.
Experienced Management: EMI's management team is seasoned and experienced (6.1 years average tenure).
Experienced Board: EMI's board of directors are considered experienced (7.9 years average tenure).
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Emira Property Fund Limited's employee growth, exchange listings and data sources
- Name: Emira Property Fund Limited
- Ticker: EMI
- Exchange: JSE
- Founded: NaN
- Industry: Diversified REITs
- Sector: Real Estate
- Market Cap: R4.784b
- Shares outstanding: 484.20m
- Website: https://www.emira.co.za
Number of Employees
- Emira Property Fund Limited
- Building A
- South Africa
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2021/10/19 21:42|
|End of Day Share Price||2021/10/19 00:00|
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.