Stock Analysis

Growthpoint Properties First Half 2024 Earnings: FFO per share: R0.6 (vs R0.79 in 1H 2023)

Simply Wall St

March 15, 2024

Growthpoint Properties (JSE:GRT) First Half 2024 Results

Key Financial Results

Revenue: R7.12b (up 4.0% from 1H 2023).
Funds from operations (FFO): R2.20b (down 19% from 1H 2023).
FFO margin: 31% (down from 39% in 1H 2023).
FFO per share: R0.6 (down from R0.79 in 1H 2023).

earnings-and-revenue-history — JSE:GRT Earnings and Revenue History March 15th 2024

All figures shown in the chart above are for the trailing 12 month (TTM) period

Growthpoint Properties Earnings Insights

Looking ahead, revenue is expected to fall by 7.3% p.a. on average during the next 3 years compared to a 4.8% decline forecast for the REITs industry in South Africa.

Performance of the South African REITs industry.

The company's shares are down 2.3% from a week ago.

Risk Analysis

Before you take the next step you should know about the 4 warning signs for Growthpoint Properties (1 is a bit concerning!) that we have uncovered.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

About JSE:GRT

Growthpoint Properties

Growthpoint is a Real Estate Investment Trust (REIT) and is the largest South African listed property company which owns a property portfolio of 369 directly owned properties in South Africa valued at R64.1bn, 58 properties valued at R61.8bn through its 63.7% investment in Growthpoint Properties Australia Limited (GOZ), five properties valued at R8.5bn through a 62.4% investment in Capital & Regional Plc (C&R), a 50% interest in the properties of the V&A Waterfront, valued at R10.1bn, a 29.5% interest in the properties of Globalworth Real Estate Investment Limited (GWI), valued at R17.4bn, a 39.1% interest in the properties of Growthpoint Healthcare Property Holdings (RF) Limited (GHPH) valued at R3.7bn, a 14.3% interest in the properties of Growthpoint Student Accommodation Holdings (RF) Limited (GSAH) valued at R2.7bn and a 18.4% interest in the properties of Lango Real Estate Limited (Lango) valued at R2.1bn.

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