Spear Reit Balance Sheet Health

Financial Health criteria checks 2/6

Spear Reit has a total shareholder equity of ZAR3.2B and total debt of ZAR1.0B, which brings its debt-to-equity ratio to 32.7%. Its total assets and total liabilities are ZAR4.3B and ZAR1.1B respectively. Spear Reit's EBIT is ZAR335.7M making its interest coverage ratio 2.4. It has cash and short-term investments of ZAR16.8M.

Key information

32.7%

Debt to equity ratio

R1.03b

Debt

Interest coverage ratio	2.4x
Cash	R16.82m
Equity	R3.15b
Total liabilities	R1.12b
Total assets	R4.28b

Recent financial health updates

No updates

Recent updates

Read This Before Selling Spear Reit Limited (JSE:SEA) Shares

Mar 15

Spear Reit (JSE:SEA) Shareholders Received A Total Return Of Negative 24% In The Last Three Years

Jan 21

Michael Flax Is The Non-Executive Deputy Chairman of Spear Reit Limited (JSE:SEA) And They Just Picked Up 6.5% More Shares

Nov 27

Financial Position Analysis

Short Term Liabilities: SEA's short term assets (ZAR230.9M) do not cover its short term liabilities (ZAR368.5M).

Long Term Liabilities: SEA's short term assets (ZAR230.9M) do not cover its long term liabilities (ZAR755.4M).

Debt to Equity History and Analysis

Debt Level: SEA's net debt to equity ratio (32.1%) is considered satisfactory.

Reducing Debt: SEA's debt to equity ratio has reduced from 62.3% to 32.7% over the past 5 years.

Debt Coverage: SEA's debt is not well covered by operating cash flow (19.3%).

Interest Coverage: SEA's interest payments on its debt are not well covered by EBIT (2.4x coverage).

Spear Reit Balance Sheet Health

Financial Health criteria checks 2/6

Key information

Recent financial health updates

Recent updates

CFO & Executive Director recently bought R150k worth of stock

First half dividend increased to R0.40

New major risk - Dividend sustainability

Spear Reit Limited Announces Dividend Declaration for the Six Months Ended 31 August 2024, Payable on 18 November 2024

Spear Reit Limited to Report First Half, 2025 Results on Oct 24, 2024

36one Asset Management (Pty) Ltd. acquired an additional minority stake in Spear Reit Limited (JSE:SEA).

Upcoming dividend of R0.41 per share

New minor risk - Shareholder dilution

Spear Reit Limited, Annual General Meeting, Jul 31, 2024

Capitec Bank Limited acquired The Liberty Life Building, Century City Boulevard from Spear Reit Limited (JSE:SEA).

Capitec Bank Limited acquired The Liberty Life Building, Century City Boulevard from Spear Reit Limited (JSE:SEA).

CEO, MD & Director recently bought R138k worth of stock

Final dividend increased to R0.41

Full year 2024 earnings released: EPS: R1.49 (vs R0.79 in FY 2023)

Now 21% undervalued after recent price drop

Now 22% undervalued after recent price drop

New minor risk - Financial data availability

Now 20% undervalued after recent price drop

CFO & Executive Director recently bought R209k worth of stock

Chief Operating Officer recently sold R420k worth of stock

New minor risk - Insider selling

CEO, MD & Director recently bought R89k worth of stock

CFO & Executive Director recently bought R71k worth of stock

Now 20% undervalued

Upcoming dividend of R0.38 per share at 9.8% yield

CEO, MD & Director recently sold R532k worth of stock

New major risk - Financial position

Spear Reit Limited Declares Interim Dividend for the Six Months Ended 31 August 2023. Payable on 20 November 2023

Spear Reit Limited to Report First Half, 2024 Results on Oct 24, 2023

Chief Operating Officer recently sold R261k worth of stock

Now 21% undervalued

CEO, MD & Director recently bought R88k worth of stock

Now 23% undervalued after recent price drop

CEO, MD & Director recently bought R134k worth of stock

CEO, MD & Director recently bought R4.6m worth of stock

Spear Reit Limited, Annual General Meeting, Jun 30, 2023

Upcoming dividend of R0.39 per share at 11% yield

CEO, MD & Director recently bought R72k worth of stock

Spear Reit Limited Announces Dividend Declaration for the Year Ended 28 February 2023, Payable on 12 June 2023

CEO, MD & Director recently bought R116k worth of stock

Capitec Bank Limited entered into a sale of rental enterprise agreement to acquire The Liberty Life Building, Century City Boulevard from Spear Reit Limited (JSE:SEA) for ZAR 400 million.

Spear Reit Limited Appoints Bongani Raziya as an Independent Non-Executive Director, and as Member of the Social and Ethics, Audit and Risk, Remuneration and Investment Committees

CFO & Executive Director recently sold R3.4m worth of stock

Spear Reit Limited Announces Resignation of Niclas Kjellström-Matseke as Independent Non-Executive Director

Non-Executive Deputy Chairman recently bought R193k worth of stock

Standard Bank Group Limited (JSE:SBK) acquired an unknown stake in Spear Reit Limited (JSE:SEA).

Less than half of directors are independent

Upcoming dividend of R0.37 per share

Spear Reit Limited (JSE:SEA) entered into a sale of rental enterprise agreement to acquire The Island Milnerton, Western Cape from Inospace 2 Proprietary Limited for SAR 185 million.

CEO, MD & Director recently bought R1.6m worth of stock

Rex Trueform Group Limited (JSE:RTN) entered in to an agreement to acquire ERF 176024 Cape Town situated at 5 Fitzmaurice Avenue from Spear Reit Limited (JSE:SEA) for ZAR 85 million.

Upcoming dividend of R0.35 per share

Spear Reit Limited Declares Final Gross Dividend, Payable 20 June 2022

Spear Reit Limited, Annual General Meeting, Jun 30, 2022

Spear Reit Limited to Report First Half, 2023 Results on Oct 25, 2022

Spear Reit Limited to Report Fiscal Year 2022 Results on May 26, 2022

Less than half of directors are independent

Snow Storm Investments Proprietary Limited entered into a sale of letting enterprise agreement to acquire Erf 17611 Cape Town at 8 Section Street, Paarden Eiland from Spear Reit Limited (JSE:SEA) for ZAR 22.5 million.

CEO, MD & Director recently bought R112k worth of stock

CEO, MD & Director recently sold R840k worth of stock

CEO, MD & Director recently sold R840k worth of stock

GMCC Investments Proprietary Limited entered into a sale of letting enterprise agreement to acquire Erf 21623 Bellville from Spear Reit Limited (JSE:SEA) for ZAR 71.4 million.

Spear Reit Limited (JSE:SEA) entered into an agreement to acquire Property at 27 Junction Road, Parow, Cape Town for BRL 65 million.

CEO, MD & Director recently bought R136k worth of stock

CEO, MD & Director recently bought R203k worth of stock

CEO, MD & Director recently bought R72k worth of stock

Independent Non-Executive Director recently sold R4.5m worth of stock

Upcoming dividend of R0.33 per share

CEO, MD & Director recently sold R645k worth of stock

CEO, MD & Director recently sold R2.2m worth of stock

CEO, MD & Director exercised options to buy R1.3m worth of stock.

CEO, MD & Director recently bought R58k worth of stock

Inospace 5 Proprietary Limited entered into an agreement to acquire Island Business Park in Cape Town from Spear Reit Limited (JSE:SEA) for R20 million.

CEO, MD & Director recently bought R226k worth of stock

Upcoming dividend of R0.29 per share