EQU Stock Overview
Equites is a listed Real Estate Investment Trust (“REIT”) with a focus on owning and developing modern, well-located logistics properties let to A-grade tenants on long-dated leases.
Equites Property Fund Competitors
Price History & Performance
|Historical stock prices|
|Current Share Price||R16.12|
|52 Week High||R23.92|
|52 Week Low||R15.74|
|1 Month Change||-9.59%|
|3 Month Change||-11.04%|
|1 Year Change||-21.79%|
|3 Year Change||-24.46%|
|5 Year Change||-23.24%|
|Change since IPO||49.95%|
Recent News & Updates
|EQU||ZA REITs||ZA Market|
Return vs Industry: EQU underperformed the ZA REITs industry which returned -10.4% over the past year.
Return vs Market: EQU underperformed the ZA Market which returned -5.2% over the past year.
|EQU Average Weekly Movement||2.8%|
|REITs Industry Average Movement||4.4%|
|Market Average Movement||5.5%|
|10% most volatile stocks in ZA Market||10.2%|
|10% least volatile stocks in ZA Market||3.1%|
Stable Share Price: EQU is less volatile than 75% of ZA stocks over the past 3 months, typically moving +/- 3% a week.
Volatility Over Time: EQU's weekly volatility (3%) has been stable over the past year.
About the Company
Equites is a listed Real Estate Investment Trust (“REIT”) with a focus on owning and developing modern, well-located logistics properties let to A-grade tenants on long-dated leases. Equites has established itself as a leading owner and developer of high-quality logistics assets in SA and the UK and is the only specialist logistics REIT listed on the JSE. This gives shareholders pure exposure to an asset class that is expected to outperform over time.
Equites Property Fund Fundamentals Summary
|EQU fundamental statistics|
Is EQU overvalued?See Fair Value and valuation analysis
Earnings & Revenue
|EQU income statement (TTM)|
|Cost of Revenue||R240.42m|
Last Reported Earnings
Feb 28, 2022
Next Earnings Date
Oct 05, 2022
|Earnings per share (EPS)||2.61|
|Net Profit Margin||120.45%|
How did EQU perform over the long term?See historical performance and comparison
10.1%Current Dividend Yield
Is EQU undervalued compared to its fair value, analyst forecasts and its price relative to the market?
Valuation Score 3/6
Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Below Fair Value
Significantly Below Fair Value
Key Valuation Metric
Which metric is best to use when looking at relative valuation for EQU?
Other financial metrics that can be useful for relative valuation.
|What is EQU's n/a Ratio?|
Price to Earnings Ratio vs Peers
How does EQU's PE Ratio compare to its peers?
|EQU PE Ratio vs Peers|
|Company||PE||Estimated Growth||Market Cap|
VKE Vukile Property Fund
HYP Hyprop Investments
FFA Fortress REIT
SSS Stor-Age Property REIT
EQU Equites Property Fund
Price-To-Earnings vs Peers: EQU is good value based on its Price-To-Earnings Ratio (6.2x) compared to the peer average (11.6x).
Price to Earnings Ratio vs Industry
How does EQU's PE Ratio compare vs other companies in the ZA REITs Industry?
Price-To-Earnings vs Industry: EQU is good value based on its Price-To-Earnings Ratio (6.2x) compared to the ZA REITs industry average (7.6x)
Price to Earnings Ratio vs Fair Ratio
What is EQU's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.
|Current PE Ratio||6.2x|
|Fair PE Ratio||n/a|
Price-To-Earnings vs Fair Ratio: Insufficient data to calculate EQU's Price-To-Earnings Fair Ratio for valuation analysis.
Share Price vs Fair Value
What is the Fair Price of EQU when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.
Below Fair Value: EQU (ZAR16.12) is trading above our estimate of fair value (ZAR12.79)
Significantly Below Fair Value: EQU is trading above our estimate of fair value.
Analyst Price Targets
What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?
Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.
Discover undervalued companies
How is Equites Property Fund forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?
Future Growth Score1/6
Future Growth Score 1/6
Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Forecasted annual revenue growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: Insufficient data to determine if EQU's forecast earnings growth is above the savings rate (9%).
Earnings vs Market: Insufficient data to determine if EQU's earnings are forecast to grow faster than the ZA market
High Growth Earnings: Insufficient data to determine if EQU's earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: EQU's revenue (13.2% per year) is forecast to grow faster than the ZA market (5.3% per year).
High Growth Revenue: EQU's revenue (13.2% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: EQU's Return on Equity is forecast to be low in 3 years time (6.7%).
Discover growth companies
How has Equites Property Fund performed over the past 5 years?
Past Performance Score4/6
Past Performance Score 4/6
Growing Profit Margin
Earnings vs Industry
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: EQU has a large one-off gain of ZAR1.2B impacting its February 28 2022 financial results.
Growing Profit Margin: EQU's current net profit margins are higher than last year (34.4%).
Past Earnings Growth Analysis
Earnings Trend: EQU's earnings have grown by 12.3% per year over the past 5 years.
Accelerating Growth: EQU's earnings growth over the past year (398.8%) exceeds its 5-year average (12.3% per year).
Earnings vs Industry: EQU earnings growth over the past year (398.8%) exceeded the REITs industry 146%.
Return on Equity
High ROE: EQU's Return on Equity (13.5%) is considered low.
Discover strong past performing companies
How is Equites Property Fund's financial position?
Financial Health Score2/6
Financial Health Score 2/6
Short Term Liabilities
Long Term Liabilities
Financial Position Analysis
Short Term Liabilities: EQU's short term assets (ZAR1.9B) exceed its short term liabilities (ZAR1.7B).
Long Term Liabilities: EQU's short term assets (ZAR1.9B) do not cover its long term liabilities (ZAR8.5B).
Debt to Equity History and Analysis
Debt Level: EQU's net debt to equity ratio (48.1%) is considered high.
Reducing Debt: EQU's debt to equity ratio has increased from 27.4% to 51.4% over the past 5 years.
Debt Coverage: EQU's debt is not well covered by operating cash flow (8.9%).
Interest Coverage: EQU's interest payments on its debt are well covered by EBIT (242.2x coverage).
Discover healthy companies
What is Equites Property Fund current dividend yield, its reliability and sustainability?
Dividend Score 2/6
Cash Flow Coverage
Current Dividend Yield
Dividend Yield vs Market
|Equites Property Fund Dividend Yield vs Market|
|Company (Equites Property Fund)||10.1%|
|Market Bottom 25% (ZA)||3.5%|
|Market Top 25% (ZA)||8.9%|
|Industry Average (REITs)||10.3%|
|Analyst forecast in 3 Years (Equites Property Fund)||11.3%|
Notable Dividend: EQU's dividend (10.11%) is higher than the bottom 25% of dividend payers in the ZA market (3.54%).
High Dividend: EQU's dividend (10.11%) is in the top 25% of dividend payers in the ZA market (8.93%)
Stability and Growth of Payments
Stable Dividend: EQU has been paying a dividend for less than 10 years and during this time payments have been volatile.
Growing Dividend: EQU's dividend payments have increased, but the company has only paid a dividend for 8 years.
Earnings Payout to Shareholders
Earnings Coverage: With its high payout ratio (153.5%), EQU's dividend payments are not well covered by earnings.
Cash Payout to Shareholders
Cash Flow Coverage: With its high cash payout ratio (158.7%), EQU's dividend payments are not well covered by cash flows.
Discover strong dividend paying companies
How experienced are the management team and are they aligned to shareholders interests?
Average board tenure
Andrea Taverna-Turisan (53 yo)
Mr. Andrea Taverna-Turisan serves as Chief Executive Officer and Executive Director at Equites Property Fund Limited. He immigrated to South Africa in 1995 and initially worked as a Commercial Property Bro...
CEO Compensation Analysis
|Andrea Taverna-Turisan's Compensation vs Equites Property Fund Earnings|
|Date||Total Comp.||Salary||Company Earnings|
|Feb 28 2022||R19m||R5m|
|Nov 30 2021||n/a||n/a|
|Aug 31 2021||n/a||n/a|
|May 31 2021||n/a||n/a|
|Feb 28 2021||R15m||R4m|
|Nov 30 2020||n/a||n/a|
|Aug 31 2020||n/a||n/a|
|May 31 2020||n/a||n/a|
|Feb 29 2020||R16m||R3m|
|Nov 30 2019||n/a||n/a|
|Aug 31 2019||n/a||n/a|
|May 31 2019||n/a||n/a|
|Feb 28 2019||R17m||R3m|
|Nov 30 2018||n/a||n/a|
|Aug 31 2018||n/a||n/a|
|May 31 2018||n/a||n/a|
|Feb 28 2018||R12m||R3m|
|Nov 30 2017||n/a||n/a|
|Aug 31 2017||n/a||n/a|
|May 31 2017||n/a||n/a|
|Feb 28 2017||R7m||R2m|
|Nov 30 2016||n/a||n/a|
|Aug 31 2016||n/a||n/a|
|May 31 2016||n/a||n/a|
|Feb 29 2016||R4m||R2m|
Compensation vs Market: Andrea's total compensation ($USD1.10M) is about average for companies of similar size in the ZA market ($USD909.43K).
Compensation vs Earnings: Andrea's compensation has increased by more than 20% in the past year.
Experienced Board: EQU's board of directors are not considered experienced ( 2.8 years average tenure), which suggests a new board.
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.
Recent Insider Transactions
|15 Jun 22||SellR1,420,047||Gerhard Gous||Individual||74,348||R19.10|
|15 Jun 22||SellR5,416,944||Andrea Taverna-Turisan||Individual||279,080||R19.41|
|09 Jun 22||SellR306,337||Gerhard Gous||Individual||16,981||R18.04|
|09 Jun 22||SellR2,066,111||Andrea Taverna-Turisan||Individual||110,919||R19.14|
|07 Jun 22||SellR1,906,000||Chiluan Holdings (Pty) Ltd.||Company||100,000||R19.06|
|27 May 22||BuyR115,672||Nazeem Khan||Individual||5,842||R19.80|
|27 May 22||BuyR34,690||Ruth Benjamin-Swales||Individual||1,752||R19.80|
|27 May 22||BuyR2,930||Keabetswe Ntuli||Individual||148||R19.80|
|23 Feb 22||BuyR72,797||Keabetswe Ntuli||Individual||3,455||R21.07|
|22 Oct 21||BuyR102,980||Nazeem Khan||Individual||5,201||R19.80|
|22 Oct 21||BuyR36,016||Ruth Benjamin-Swales||Individual||1,819||R19.80|
|Owner Type||Number of Shares||Ownership Percentage|
Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 9.7%.
|Ownership||Name||Shares||Current Value||Change %||Portfolio %|
Equites Property Fund Limited's employee growth, exchange listings and data sources
- Name: Equites Property Fund Limited
- Ticker: EQU
- Exchange: JSE
- Founded: NaN
- Industry: Industrial REITs
- Sector: Real Estate
- Implied Market Cap: R12.552b
- Shares outstanding: 778.69m
- Website: https://www.equites.co.za
Number of Employees
- Equites Property Fund Limited
- Portside Towers
- 14th Floor
- Cape Town
- Western Cape
- South Africa
|Ticker||Exchange||Primary Security||Security Type||Country||Currency||Listed on|
|EQU||JSE (The Johannesburg Securities Exchange)||Yes||Share Capital||ZA||ZAR||Jun 2014|
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2022/10/04 00:00|
|End of Day Share Price||2022/10/04 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.