SA Corporate Real Estate Limited is a JSE-listed Real Estate Investment Trust (“REIT”) which owns a diversified portfolio of quality industrial, retail, commercial and residential buildings located primarily in the major metropolitan areas of South Africa with a secondary node in Zambia.
SA Real Estate Competitors
Price History & Performance
|Historical stock prices|
|Current Share Price||R2.12|
|52 Week High||R1.08|
|52 Week Low||R2.34|
|1 Month Change||-4.07%|
|3 Month Change||6.00%|
|1 Year Change||81.20%|
|3 Year Change||-46.06%|
|5 Year Change||-61.66%|
|Change since IPO||6.00%|
Recent News & Updates
|SAC||ZA REITs||ZA Market|
Return vs Industry: SAC exceeded the ZA REITs industry which returned 39.5% over the past year.
Return vs Market: SAC exceeded the ZA Market which returned 21.3% over the past year.
Stable Share Price: SAC is less volatile than 75% of ZA stocks over the past 3 months, typically moving +/- 4% a week.
Volatility Over Time: SAC's weekly volatility (4%) has been stable over the past year.
About the Company
SA Corporate Real Estate Limited is a JSE-listed Real Estate Investment Trust (“REIT”) which owns a diversified portfolio of quality industrial, retail, commercial and residential buildings located primarily in the major metropolitan areas of South Africa with a secondary node in Zambia. The property, excluding investment in listed shares and loans advanced, consists of 192 properties, with 1 629 105 m2 of lettable area, valued at R16.6 billion, and a 50% joint venture in three Zambian properties valued at R1.1 billion.
SA Real Estate Fundamentals Summary
|SAC fundamental statistics|
Is SAC overvalued?See Fair Value and valuation analysis
Earnings & Revenue
|SAC income statement (TTM)|
|Cost of Revenue||R858.23m|
Last Reported Earnings
Jun 30, 2021
Next Earnings Date
|Earnings per share (EPS)||-0.042|
|Net Profit Margin||-5.12%|
How did SAC perform over the long term?See historical performance and comparison
13.3%Current Dividend Yield
Does SAC pay a reliable dividends?See SAC dividend history and benchmarks
|SA Real Estate dividend dates|
|Ex Dividend Date||Oct 20 2021|
|Dividend Pay Date||Oct 25 2021|
|Days until Ex dividend||1 day|
|Days until Dividend pay date||6 days|
Does SAC pay a reliable dividends?See SAC dividend history and benchmarks
Is SA Real Estate 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: SAC (ZAR2.12) is trading below our estimate of fair value (ZAR2.99)
Significantly Below Fair Value: SAC is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: SAC is unprofitable, so we can't compare its PE Ratio to the ZA REITs industry average.
PE vs Market: SAC is unprofitable, so we can't compare its PE Ratio to the ZA market.
Price to Earnings Growth Ratio
PEG Ratio: Insufficient data to calculate SAC's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: SAC's PB Ratio (0.5x) is in line with the ZA REITs industry average.
How is SA Real Estate forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?
Forecasted annual revenue growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: Insufficient data to determine if SAC's forecast earnings growth is above the savings rate (8.8%).
Earnings vs Market: Insufficient data to determine if SAC'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: SAC's revenue (0.8% per year) is forecast to grow slower than the ZA market (6.1% per year).
High Growth Revenue: SAC's revenue (0.8% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: Insufficient data to determine if SAC's Return on Equity is forecast to be high in 3 years time
How has SA Real Estate performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: SAC is currently unprofitable.
Growing Profit Margin: SAC is currently unprofitable.
Past Earnings Growth Analysis
Earnings Trend: SAC is unprofitable, and losses have increased over the past 5 years at a rate of 60.4% per year.
Accelerating Growth: Unable to compare SAC's earnings growth over the past year to its 5-year average as it is currently unprofitable
Earnings vs Industry: SAC is unprofitable, making it difficult to compare its past year earnings growth to the REITs industry (132.9%).
Return on Equity
High ROE: SAC has a negative Return on Equity (-1.07%), as it is currently unprofitable.
How is SA Real Estate's financial position?
Financial Position Analysis
Short Term Liabilities: SAC's short term assets (ZAR1.3B) do not cover its short term liabilities (ZAR2.7B).
Long Term Liabilities: SAC's short term assets (ZAR1.3B) do not cover its long term liabilities (ZAR4.9B).
Debt to Equity History and Analysis
Debt Level: SAC's debt to equity ratio (71%) is considered high.
Reducing Debt: SAC's debt to equity ratio has increased from 40.4% to 71% over the past 5 years.
Debt Coverage: SAC's debt is not well covered by operating cash flow (10%).
Interest Coverage: SAC's interest payments on its debt are not well covered by EBIT (1.2x coverage).
What is SA Real Estate current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: SAC's dividend (13.3%) is higher than the bottom 25% of dividend payers in the ZA market (3.07%).
High Dividend: SAC's dividend (13.3%) is in the top 25% of dividend payers in the ZA market (8.09%)
Stability and Growth of Payments
Stable Dividend: SAC's dividend payments have been volatile in the past 10 years.
Growing Dividend: SAC's dividend payments have fallen over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its high payout ratio (114.9%), SAC's dividend payments are not well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: SAC's dividends in 3 years are forecast to be covered by earnings (79.8% payout ratio).
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Terence Mackey (59 yo)
Mr. Terence Rory Mackey, BSc Eng, Postgrad Dip Eng, CPFA, Pr CPM, is Chief Executive Officer at SA Corporate Real Estate Limited since January 19, 2015. He was Managing Director at SA Corporate Real Estate...
CEO Compensation Analysis
Compensation vs Market: Terence's total compensation ($USD217.68K) is below average for companies of similar size in the ZA market ($USD731.45K).
Compensation vs Earnings: Terence's compensation has been consistent with company performance over the past year.
Experienced Management: SAC's management team is not considered experienced ( 1.3 years average tenure), which suggests a new team.
Experienced Board: SAC's board of directors are not considered experienced ( 2.3 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.
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
SA Corporate Real Estate Limited's employee growth, exchange listings and data sources
- Name: SA Corporate Real Estate Limited
- Ticker: SAC
- Exchange: JSE
- Founded: NaN
- Industry: Diversified REITs
- Sector: Real Estate
- Market Cap: R5.289b
- Shares outstanding: 2.49b
- Website: https://www.sacorporatefund.co.za
- SA Corporate Real Estate Limited
- The Forum
- South Wing, First Floor
- Century City
- Western Cape
- South Africa
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2021/10/18 21:39|
|End of Day Share Price||2021/10/18 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.