Resilient REIT (JSE:RES) - Stock Price, News & Analysis

RES Stock Overview

Resilient is a retail-focused Real Estate Investment Trust ("REIT") listed on the JSE Limited ("JSE"). More details

RES fundamental analysis
Snowflake Score
Valuation	2/6
Future Growth	0/6
Past Performance	4/6
Financial Health	1/6
Dividends	3/6

Rewards

Price-To-Earnings ratio (4.8x) is below the ZA market (10.1x)

Earnings grew by 23.5% over the past year

Risk Analysis

Debt is not well covered by operating cash flow

Dividend of 7.34% is not well covered by free cash flows

Resilient REIT Limited Competitors

Hyprop Investments

JSE:HYP

R16.0b

Vukile Property Fund

JSE:VKE

R19.6b

Exemplar REITail

JSE:EXP

R3.8b

Dipula Income Fund

JSE:DIB

R4.8b

Price History & Performance

Summary of all time highs, changes and price drops for Resilient REIT
Historical stock prices
Current Share Price	R57.50
52 Week High	R61.09
52 Week Low	R39.19
Beta	1.05
11 Month Change	2.68%
3 Month Change	5.93%
1 Year Change	44.33%
33 Year Change	3.05%
5 Year Change	-13.79%
Change since IPO	-21.06%

Recent updates

Shareholder Returns

	RES	ZA Retail REITs	ZA Market
7D	4.7%	2.6%	1.7%
1Y	44.3%	34.4%	15.6%

Return vs Industry: RES exceeded the ZA Retail REITs industry which returned 34.3% over the past year.

Return vs Market: RES exceeded the ZA Market which returned 15.2% over the past year.

Price Volatility

Is RES's price volatile compared to industry and market?
RES volatility
RES Average Weekly Movement	2.8%
Retail REITs Industry Average Movement	3.5%
Market Average Movement	4.5%
10% most volatile stocks in ZA Market	9.5%
10% least volatile stocks in ZA Market	2.6%

Stable Share Price: RES has not had significant price volatility in the past 3 months compared to the ZA market.

Volatility Over Time: RES's weekly volatility (3%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
2002	n/a	n/a	www.resilient.co.za

Resilient is a retail-focused Real Estate Investment Trust ("REIT") listed on the JSE Limited ("JSE"). Its strategy is to invest in dominant retail centres with a minimum of three anchor tenants and let predominantly to national retailers. A core competency is its strong development skills which support new developments and the reconfiguration of existing malls to adapt to structural changes in the market.

Resilient REIT Limited Fundamentals Summary

How do Resilient REIT's earnings and revenue compare to its market cap?
RES fundamental statistics
Market cap	R19.21b
Earnings (TTM)	R4.00b
Revenue (TTM)	R6.05b

4.8x

P/E Ratio

3.2x

P/S Ratio

Is RES overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
RES income statement (TTM)
Revenue	R6.05b
Cost of Revenue	R1.43b
Gross Profit	R4.63b
Other Expenses	R626.08m
Earnings	R4.00b

Last Reported Earnings

Jun 30, 2024

Next Earnings Date

n/a

Earnings per share (EPS)	11.98
Gross Margin	76.44%
Net Profit Margin	66.10%
Debt/Equity Ratio	60.6%

How did RES perform over the long term?

See historical performance and comparison

Dividends

7.3%

Current Dividend Yield

100%

Payout Ratio

RES Stock Overview

Rewards

Risk Analysis

Resilient REIT Limited Competitors

JSE:HYP

R16.0b

JSE:VKE

R19.6b

JSE:EXP

R3.8b

JSE:DIB

R4.8b

Price History & Performance

Recent News & Updates

Price target increased by 15% to R58.27

Non-Independent Non-Executive Director recently bought R3.7m worth of stock

Insufficient new directors

Final dividend increased to R2.19

Resilient REIT Limited Declares Interim Dividend for the Six Months Ended 30 June 2024. Payable on 9 September 2024

Price target increased by 11% to R50.81

Recent updates

Price target increased by 15% to R58.27

Non-Independent Non-Executive Director recently bought R3.7m worth of stock

Insufficient new directors

Final dividend increased to R2.19

Resilient REIT Limited Declares Interim Dividend for the Six Months Ended 30 June 2024. Payable on 9 September 2024

Price target increased by 11% to R50.81

Resilient REIT Limited Announces Executive Changes

Non-Independent Non-Executive Director recently bought R794k worth of stock

Resilient REIT Limited, Annual General Meeting, Jun 20, 2024

Upcoming dividend of R2.03 per share

Resilient REIT Limited Announces Resignation of Hluke Mthombeni as Company Secretary, Effective from 26 April 2024

Final dividend of R2.03 announced

Resilient REIT Limited Appoints Barry Stuhler as a Member of the Audit Committee

Full year 2023 earnings released: EPS: R10.49 (vs R10.82 in FY 2022)

New minor risk - Insider selling

MD, CEO & Executive Director recently bought R825k worth of stock

MD, CEO & Executive Director recently bought R2.7m worth of stock

Price target decreased by 11% to R46.43

New major risk - Dividend sustainability

Public Investment Corporation Limited acquired an additional unknown stake in Resilient REIT Limited (JSE : RES).

Price target decreased by 8.5% to R48.50

Insufficient new directors

Now 20% undervalued after recent price drop

Upcoming dividend of R2.34 per share

Full year 2022 earnings released: EPS: R9.85 (vs R0.99 in FY 2021)

Resilient REIT Limited Announces Passing of David Brown, Independent Non-Executive Director

Resilient REIT Limited, Annual General Meeting, Jun 22, 2022

Upcoming dividend of R2.27 per share

Resilient REIT Limited to Report First Half, 2022 Results on Mar 17, 2022

Price target increased to R56.00

Price target increased to R55.17

Upcoming dividend of R2.26 per share

Resilient REIT Limited (JSE:RES) reached an agreement to acquire 25% stake in Portfolio of four dominant French retail shopping centers from Wereldhave Retail France S.A.S for €76.3 million.

Full year 2021 earnings released: EPS R0.77 (vs R10.15 loss in FY 2020)

Price target increased to R49.30

First half 2021 earnings released: R2.19 loss per share (vs R1.49 profit in 1H 2020)

South Africa Government Employee Pension Fund, managed by Public Investment Corporation Limited, signed an engagement letter to acquire unknown stake in retail assets of Resilient REIT Limited.

New 90-day high: R41.07

New 90-day low: R30.74

Resilient REIT Limited to Report First Half, 2021 Results on Mar 04, 2021

New 90-day low: R37.53

Full year earnings released

New 90-day low - R39.16

Investec Asset Management (South Africa) Limited acquired 5.01% stake in Resilient REIT Limited (JSE:RES).

Shareholder Returns

Price Volatility

About the Company

Resilient REIT Limited Fundamentals Summary

4.8x

3.2x

Earnings & Revenue

Dividends

7.3%

100%