Resilient REIT Future Growth

Future criteria checks 0/6

Resilient REIT's revenue is forecast to decline at 9.3% per annum.

Key information

n/a

Earnings growth rate

n/a

EPS growth rate

Retail REITs earnings growth	14.1%
Revenue growth rate	-9.3%
Future return on equity	6.5%
Analyst coverage	Low
Last updated	04 Dec 2024

Recent future growth updates

Recent updates

Earnings and Revenue Growth Forecasts

JSE:RES - Analysts future estimates and past financials data (ZAR Millions)
Date	Revenue	Earnings	Free Cash Flow	Cash from Op	Avg. No. Analysts
12/31/2026	4,444	N/A	N/A	1,595	3
12/31/2025	4,201	N/A	N/A	1,537	3
12/31/2024	3,974	N/A	N/A	1,339	3
6/30/2024	6,052	4,000	1,236	1,236	N/A
3/31/2024	5,982	3,764	1,179	1,179	N/A
12/31/2023	5,912	3,529	1,121	1,121	N/A
9/30/2023	4,721	3,611	N/A	N/A	N/A
6/30/2023	3,639	3,239	1,098	1,098	N/A
3/31/2023	4,044	3,514	1,285	1,285	N/A
12/31/2022	4,448	3,789	1,472	1,472	N/A
12/31/2021	3,665	3,784	1,501	1,501	N/A
6/30/2021	779	358	1,252	1,252	N/A
12/31/2020	1,190	-5,008	1,539	1,539	N/A
9/30/2020	2,259	-4,343	1,485	1,485	N/A
6/30/2020	3,181	-3,476	1,431	1,431	N/A
3/31/2020	3,427	695	1,352	1,352	N/A
12/31/2019	3,527	5,067	1,273	1,273	N/A
9/30/2019	3,662	4,829	1,296	1,296	N/A
6/30/2019	3,798	4,590	1,318	1,318	N/A
3/31/2019	3,821	-4,169	1,414	1,414	N/A
12/31/2018	3,844	-12,927	1,510	1,510	N/A
9/30/2018	3,745	-8,124	1,269	1,269	N/A
6/30/2018	3,646	-3,320	1,028	1,028	N/A
3/31/2018	3,718	3,963	N/A	500	N/A
12/31/2017	3,790	11,247	N/A	-29	N/A
9/30/2017	3,652	6,878	N/A	308	N/A
6/30/2017	3,514	2,510	N/A	644	N/A
3/31/2017	3,391	2,400	N/A	1,402	N/A
12/31/2016	3,269	2,289	N/A	2,159	N/A
9/30/2016	2,758	3,106	N/A	1,788	N/A
6/30/2016	2,246	3,923	N/A	1,417	N/A
3/31/2016	2,246	4,943	N/A	1,416	N/A
12/31/2015	2,246	5,964	N/A	1,415	N/A
9/30/2015	2,385	5,716	N/A	1,308	N/A
6/30/2015	2,524	5,468	N/A	1,200	N/A
3/31/2015	2,186	5,067	N/A	508	N/A
12/31/2014	1,849	4,667	N/A	-184	N/A
9/30/2014	1,750	4,230	N/A	-124	N/A
6/30/2014	1,650	3,794	N/A	-65	N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: Insufficient data to determine if RES's forecast earnings growth is above the savings rate (9.7%).

Earnings vs Market: Insufficient data to determine if RES's earnings are forecast to grow faster than the ZA market

High Growth Earnings: Insufficient data to determine if RES's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: RES's revenue is expected to decline over the next 3 years (-9.3% per year).

High Growth Revenue: RES's revenue is forecast to decline over the next 3 years (-9.3% per year).

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: RES's Return on Equity is forecast to be low in 3 years time (6.5%).

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Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2024/12/30 01:56
End of Day Share Price	2024/12/30 00:00
Earnings	2024/06/30
Annual Earnings	2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* example for US securities, for non-US equivalent regulatory forms and sources are used.

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.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Resilient REIT Limited is covered by 12 analysts. 3 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Mahir Hamdulay	Absa Bank Limited
Sabena Omar	Avior Capital Markets
Samuel James Hugh Warwood	BofA Global Research

Resilient REIT Future Growth

Future criteria checks 0/6

Key information

Recent future growth updates

Price target increased by 15% to R58.27

Price target increased by 11% to R50.81

Price target decreased by 11% to R46.43

Price target decreased by 8.5% to R48.50

Price target increased to R56.00

Price target increased to R55.17

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).