Texton Property Fund Limited is a Real Estate Investment Trust (“REIT”) listed on the JSE Limited.
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Texton Property Fund Competitors
Price History & Performance
|Historical stock prices|
|Current Share Price||R3.15|
|52 Week High||R0.74|
|52 Week Low||R4.31|
|1 Month Change||-9.22%|
|3 Month Change||0.32%|
|1 Year Change||275.00%|
|3 Year Change||-31.37%|
|5 Year Change||-59.61%|
|Change since IPO||-56.25%|
Recent News & Updates
|TEX||ZA REITs||ZA Market|
Return vs Industry: TEX exceeded the ZA REITs industry which returned 39.7% over the past year.
Return vs Market: TEX exceeded the ZA Market which returned 20.7% over the past year.
Stable Share Price: TEX is more volatile than 75% of ZA stocks over the past 3 months, typically moving +/- 10% a week.
Volatility Over Time: TEX's weekly volatility (10%) has been stable over the past year, but is still higher than 75% of ZA stocks.
About the Company
|2006||n/a||H. S. Welleman||https://www.texton.co.za|
Texton Property Fund Limited is a Real Estate Investment Trust (“REIT”) listed on the JSE Limited. The company internally manages its R4,5 billion portfolio of retail, office and industrial property assets located in South Africa (“SA”) and the United Kingdom (“UK”). The Fund was formed in 2006 and listed on the JSE in August 2011.
Texton Property Fund Fundamentals Summary
|TEX fundamental statistics|
Is TEX overvalued?See Fair Value and valuation analysis
Earnings & Revenue
|TEX income statement (TTM)|
|Cost of Revenue||R159.83m|
Last Reported Earnings
Jun 30, 2021
Next Earnings Date
Mar 18, 2022
|Earnings per share (EPS)||0.59|
|Net Profit Margin||58.63%|
How did TEX perform over the long term?See historical performance and comparison
Is Texton Property Fund 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: TEX (ZAR3.15) is trading below our estimate of fair value (ZAR4.91)
Significantly Below Fair Value: TEX is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: TEX is good value based on its PE Ratio (5.3x) compared to the ZA REITs industry average (11.8x).
PE vs Market: TEX is good value based on its PE Ratio (5.3x) compared to the ZA market (11.1x).
Price to Earnings Growth Ratio
PEG Ratio: Insufficient data to calculate TEX's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: TEX is good value based on its PB Ratio (0.5x) compared to the ZA REITs industry average (0.6x).
How is Texton Property Fund forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?
Forecasted Real Estate industry annual growth in earnings
In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Texton Property Fund has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.
This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.
How has Texton Property Fund performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: TEX has a large one-off gain of ZAR53.6M impacting its June 30 2021 financial results.
Growing Profit Margin: TEX became profitable in the past.
Past Earnings Growth Analysis
Earnings Trend: TEX's earnings have declined by 59.6% per year over the past 5 years.
Accelerating Growth: TEX has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.
Earnings vs Industry: TEX has become profitable in the last year, making it difficult to compare its past year earnings growth to the REITs industry (111.5%).
Return on Equity
High ROE: TEX's Return on Equity (9.5%) is considered low.
How is Texton Property Fund's financial position?
Financial Position Analysis
Short Term Liabilities: TEX's short term assets (ZAR929.8M) exceed its short term liabilities (ZAR149.0M).
Long Term Liabilities: TEX's short term assets (ZAR929.8M) do not cover its long term liabilities (ZAR1.4B).
Debt to Equity History and Analysis
Debt Level: TEX's debt to equity ratio (66.4%) is considered high.
Reducing Debt: TEX's debt to equity ratio has increased from 56.4% to 66.4% over the past 5 years.
Debt Coverage: TEX's debt is not well covered by operating cash flow (9.5%).
Interest Coverage: TEX's interest payments on its debt are not well covered by EBIT (2.6x coverage).
What is Texton Property Fund current dividend yield, its reliability and sustainability?
Dividend Yield vs Market
Notable Dividend: Unable to evaluate TEX's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.
High Dividend: Unable to evaluate TEX's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.
Stability and Growth of Payments
Stable Dividend: Insufficient data to determine if TEX's dividends per share have been stable in the past.
Growing Dividend: Insufficient data to determine if TEX's dividend payments have been increasing.
Current Payout to Shareholders
Dividend Coverage: TEX is not paying a notable dividend for the ZA market.
Future Payout to Shareholders
Future Dividend Coverage: No need to calculate the sustainability of TEX's dividend in 3 years as they are not forecast to pay a notable one for the ZA market.
How experienced are the management team and are they aligned to shareholders interests?
Average board tenure
H. S. Welleman (33 yo)
Mr. H. S. Pienaar Welleman serves as Chief Executive Officer & Executive Director at Texton Property Fund Limited. He served as Interim Chief Executive Officer at Texton Property Fund Limited since April 2...
CEO Compensation Analysis
Compensation vs Market: H. S.'s total compensation ($USD221.67K) is about average for companies of similar size in the ZA market ($USD285.78K).
Compensation vs Earnings: H. S.'s compensation has been consistent with company performance over the past year.
Experienced Board: TEX's board of directors are not considered experienced ( 2.9 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.
Recent Insider Transactions
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Texton Property Fund Limited's employee growth, exchange listings and data sources
- Name: Texton Property Fund Limited
- Ticker: TEX
- Exchange: JSE
- Founded: 2006
- Industry: Office REITs
- Sector: Real Estate
- Market Cap: R1.076b
- Shares outstanding: 341.62m
- Website: https://www.texton.co.za
Number of Employees
- Texton Property Fund Limited
- Investment Place
- Block C, Hyde Park
- South Africa
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2021/10/14 21:27|
|End of Day Share Price||2021/10/14 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.