Texton Property Fund (TEX) Stock Overview

A JSE-listed real estate investment trust (REIT) that offers shareholders access to global direct and indirect real estate investments, which aim to deliver sustainable, risk-adjusted returns. More details

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

Rewards

Price-To-Earnings ratio (8.6x) is below the Office REITs industry average (15x)

Became profitable this year

Risk Analysis

Highly volatile share price over the past 3 months compared to the ZA market

Large one-off items impacting financial results

Does not have a meaningful market cap (ZAR835M)

Latest financial reports are more than 6 months old

+ 1 more risk

TEX Community Fair Values

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Texton Property Fund Limited Competitors

Price History & Performance

Summary of share price highs, lows and changes for Texton Property Fund
Historical stock prices
Current Share Price	R2.80
52 Week High	R4.50
52 Week Low	R2.40
Beta	0.24
1 Month Change	7.28%
3 Month Change	-12.50%
1 Year Change	-0.36%
3 Year Change	16.67%
5 Year Change	-19.54%
Change since IPO	-61.11%

Recent updates

Analysis Article • Mar 08

Here's Why We Think Texton Property Fund (JSE:TEX) Is Well Worth Watching

Investors are often guided by the idea of discovering 'the next big thing', even if that means buying 'story stocks...

Shareholder Returns

	TEX	ZA Office REITs	ZA Market
7D	-37.8%	2.4%	1.4%
1Y	-0.4%	-5.8%	16.3%

Return vs Industry: TEX exceeded the ZA Office REITs industry which returned -5.8% over the past year.

Return vs Market: TEX underperformed the ZA Market which returned 16.3% over the past year.

Price Volatility

Is TEX's price volatile compared to industry and market?
TEX volatility
TEX Average Weekly Movement	18.4%
Office REITs Industry Average Movement	3.4%
Market Average Movement	4.9%
10% most volatile stocks in ZA Market	10.9%
10% least volatile stocks in ZA Market	3.1%

Stable Share Price: TEX's share price has been volatile over the past 3 months compared to the ZA market.

Volatility Over Time: TEX's weekly volatility (18%) has been stable over the past year, but is still higher than 75% of ZA stocks.

About the Company

Founded	Employees	CEO	Website
n/a	n/a	Jonathan Rens	www.texton.co.za

Texton Property Fund Limited is a JSE-listed real estate investment trust (REIT) that offers shareholders access to global direct and indirect real estate investments, which aim to deliver sustainable, risk-adjusted returns. Our direct property portfolio is valued at R1,9 billion as of 30 June 2025 (2024: R2,1 billion) and our international indirect property investment portfolio amounts to R415,4 million (2024: R443,1 million). The direct property portfolio includes commercial and retail properties.

Texton Property Fund Limited Fundamentals Summary

How do Texton Property Fund's earnings and revenue compare to its market cap?
TEX fundamental statistics
Market cap	R834.68m
Earnings (TTM)	R97.21m
Revenue (TTM)	R278.37m

8.6x

P/E Ratio

3.0x

P/S Ratio

Is TEX overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
TEX income statement (TTM)
Revenue	R278.37m
Cost of Revenue	R111.60m
Gross Profit	R166.78m
Other Expenses	R69.57m
Earnings	R97.21m

Last Reported Earnings

Jun 30, 2025

Next Earnings Date

n/a

Earnings per share (EPS)	0.33
Gross Margin	59.91%
Net Profit Margin	34.92%
Debt/Equity Ratio	41.3%

How did TEX perform over the long term?

See historical performance and comparison

Dividends

7.2%

Current Dividend Yield

164%

Payout Ratio

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2026/06/16 02:03
End of Day Share Price	2026/06/15 00:00
Earnings	2025/06/30
Annual Earnings	2025/06/30

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.

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 Github.

Analyst Sources

Texton Property Fund Limited is covered by 2 analysts. 0 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
Nazeem Samsodien	Macquarie Research
Ridwaan Loonat	Nedbank Corporate and Investment Bank

Texton Property Fund (TEX) Stock Overview

Rewards

Risk Analysis

Texton Property Fund Limited Competitors

Delta Property Fund

Newpark REIT

Oasis Crescent Property Fund

aReit Prop

Price History & Performance

Recent News & Updates

Investor sentiment deteriorates as stock falls 29%

New major risk - Share price stability

Now 78% overvalued after recent price rise

New minor risk - Financial data availability

Investor sentiment improves as stock rises 16%

Investor sentiment improves as stock rises 19%

Recent updates

Investor sentiment deteriorates as stock falls 29%

New major risk - Share price stability

Now 78% overvalued after recent price rise

New minor risk - Financial data availability

Investor sentiment improves as stock rises 16%

Investor sentiment improves as stock rises 19%

Texton Property Fund Limited Approves Appointment of M Golding , A Hannington and P Welleman to the Social and Ethics Committee

Investor sentiment improves as stock rises 19%

Now 39% overvalued after recent price rise

Investor sentiment deteriorates as stock falls 24%

Texton Property Fund Limited, Annual General Meeting, Dec 02, 2025

Upcoming dividend of R0.64 per share

Investor sentiment improves as stock rises 17%

New minor risk - Earnings quality

New major risk - Dividend sustainability

Now 22% overvalued

Now 21% overvalued after recent price rise

Now 21% overvalued

Investor sentiment deteriorates as stock falls 15%

Now 24% overvalued

Investor sentiment deteriorates as stock falls 17%

Upcoming dividend of R1.00 per share

Now 21% overvalued

First half 2025 earnings released: EPS: R0.09 (vs R0.10 loss in 1H 2024)

New major risk - Share price stability

Now 22% undervalued after recent price drop

Less than half of directors are independent

Texton Property Fund Limited, Annual General Meeting, Nov 27, 2024

Now 21% undervalued after recent price drop

Now 23% undervalued after recent price drop

Dividend increased to R0.20

Texton Property Fund Limited Declares Final Dividend for the Year-Ended 30 June 2024, Payable on October 14, 2024

Texton Property Fund Limited to Report Fiscal Year 2024 Results on Sep 23, 2024

New minor risk - Financial data availability

New minor risk - Share price stability

Now 27% overvalued after recent price rise

Now 26% overvalued after recent price rise

Now 23% overvalued after recent price rise

Now 24% overvalued after recent price rise

Now 22% overvalued after recent price rise

New minor risk - Share price stability

Now 23% overvalued after recent price rise

Texton Property Fund Limited Appoints Mr. Pienaar Welleman as Part-Time Financial Director

New major risk - Financial position

New major risk - Share price stability

New minor risk - Share price stability

Texton Property Fund Limited, Annual General Meeting, Nov 29, 2023

Upcoming dividend of R0.19 per share at 7.4% yield

Full year 2023 earnings released: R0.043 loss per share (vs R0.11 profit in FY 2022)

Texton Property Fund Limited Announces Cash Dividend Declaration for the Year Ended 30 June 2023, Payable on 23 October 2023

New minor risk - Financial data availability

Texton Property Fund Limited, Annual General Meeting, Jun 30, 2023

Investor sentiment deteriorates as stock falls 16%

Investor sentiment improves as stock rises 25%

Investor sentiment improves as stock rises 24%

Here's Why We Think Texton Property Fund (JSE:TEX) Is Well Worth Watching

Insufficient new directors

Texton Property Fund Limited, Annual General Meeting, Nov 30, 2022

Now 29% undervalued after recent price drop

Upcoming dividend of R0.07 per share

Now 30% undervalued after recent price drop

Texton Property Fund Limited to Report Fiscal Year 2022 Results on Sep 23, 2022

Now 22% undervalued