New Risk • Apr 14
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (9.3% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (R897.3m market cap, or US$54.7m). Valuation Update With 7 Day Price Move • Jan 26
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to R3.79, the stock trades at a trailing P/E ratio of 11.6x. Average trailing P/E is 22x in the Office REITs industry globally. Total returns to shareholders of 202% over the past three years. Valuation Update With 7 Day Price Move • Dec 31
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to R3.75, the stock trades at a trailing P/E ratio of 11.5x. Average trailing P/E is 22x in the Office REITs industry globally. Total returns to shareholders of 186% over the past three years. Announcement • Dec 03
Texton Property Fund Limited Approves Appointment of M Golding , A Hannington and P Welleman to the Social and Ethics Committee Texton Property Fund Limited at its AGM, held on December 02, 2025, approved appointment of Mr. M Golding, Mr. A Hannington and Mr. P Welleman to the social and ethics committee. Valuation Update With 7 Day Price Move • Nov 18
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to R3.14, the stock trades at a trailing P/E ratio of 9.6x. Average trailing P/E is 22x in the Office REITs industry globally. Total returns to shareholders of 122% over the past three years. Buy Or Sell Opportunity • Nov 12
Now 39% overvalued after recent price rise Over the last 90 days, the stock has risen 15% to R3.15. The fair value is estimated to be R2.27, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 3.2% over the last 3 years. Meanwhile, the company has become profitable. Valuation Update With 7 Day Price Move • Nov 04
Investor sentiment deteriorates as stock falls 24% After last week's 24% share price decline to R2.65, the stock trades at a trailing P/E ratio of 8.1x. Average trailing P/E is 22x in the Office REITs industry globally. Total returns to shareholders of 75% over the past three years. Announcement • Nov 01
Texton Property Fund Limited, Annual General Meeting, Dec 02, 2025 Texton Property Fund Limited, Annual General Meeting, Dec 02, 2025. Upcoming Dividend • Oct 20
Upcoming dividend of R0.64 per share Eligible shareholders must have bought the stock before 27 October 2025. Payment date: 30 October 2025. Trailing yield: 5.6%. Lower than top quartile of South African dividend payers (8.1%). In line with average of industry peers (5.1%). Valuation Update With 7 Day Price Move • Oct 03
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to R3.50, the stock trades at a trailing P/E ratio of 10.7x. Average trailing P/E is 23x in the Office REITs industry globally. Total returns to shareholders of 94% over the past three years. New Risk • Sep 30
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 382% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by earnings (164% payout ratio). Share price has been volatile over the past 3 months (9.0% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (R1.04b market cap, or US$60.4m). New Risk • Sep 26
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. The company is paying a dividend despite being loss-making. The company is paying a dividend despite having no free cash flows. Dividend yield: 6.7% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Minor Risks Share price has been volatile over the past 3 months (7.9% average weekly change). Market cap is less than US$100m (R894.3m market cap, or US$51.6m). Buy Or Sell Opportunity • Sep 19
Now 22% overvalued Over the last 90 days, the stock has fallen 11% to R2.80. The fair value is estimated to be R2.30, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company has become profitable. Buy Or Sell Opportunity • Aug 25
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 15% to R2.98. The fair value is estimated to be R2.47, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company has become profitable. Buy Or Sell Opportunity • Aug 05
Now 21% overvalued Over the last 90 days, the stock has fallen 14% to R2.93. The fair value is estimated to be R2.43, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company has become profitable. Valuation Update With 7 Day Price Move • Jul 02
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to R2.65, the stock trades at a trailing P/E ratio of 19.8x. Average trailing P/E is 22x in the Office REITs industry globally. Total returns to shareholders of 30% over the past three years. Buy Or Sell Opportunity • Jun 20
Now 24% overvalued Over the last 90 days, the stock has fallen 17% to R3.14. The fair value is estimated to be R2.53, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company has become profitable. Valuation Update With 7 Day Price Move • May 21
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to R2.90, the stock trades at a trailing P/E ratio of 21.7x. Average trailing P/E is 21x in the Office REITs industry globally. Total returns to shareholders of 34% over the past three years. Upcoming Dividend • May 14
Upcoming dividend of R1.00 per share Eligible shareholders must have bought the stock before 21 May 2025. Payment date: 26 May 2025. Trailing yield: 5.8%. Lower than top quartile of South African dividend payers (8.4%). In line with average of industry peers (5.4%). Buy Or Sell Opportunity • Apr 22
Now 21% overvalued Over the last 90 days, the stock has fallen 14% to R3.50. The fair value is estimated to be R2.89, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company has become profitable. Reported Earnings • Mar 16
First half 2025 earnings released: EPS: R0.09 (vs R0.10 loss in 1H 2024) First half 2025 results: EPS: R0.09 (up from R0.10 loss in 1H 2024). Revenue: R142.3m (down 8.2% from 1H 2024). Net income: R26.9m (up R53.8m from 1H 2024). Profit margin: 19% (up from net loss in 1H 2024). Over the last 3 years on average, earnings per share has fallen by 56% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. New Risk • Feb 03
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of South African stocks, typically moving 8.9% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (8.9% average weekly change). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (R1.34b market cap, or US$71.3m). Buy Or Sell Opportunity • Dec 10
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 22% to R3.03. The fair value is estimated to be R3.91, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 3.3% over the last 3 years. Meanwhile, the company became loss making. Board Change • Nov 19
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 5 experienced directors. 1 highly experienced director. 3 independent directors (4 non-independent directors). Independent Non-Executive Director Wayne van der Vent was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Announcement • Oct 30
Texton Property Fund Limited, Annual General Meeting, Nov 27, 2024 Texton Property Fund Limited, Annual General Meeting, Nov 27, 2024. Buy Or Sell Opportunity • Oct 29
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 9.1% to R3.10. The fair value is estimated to be R3.93, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 3.3% over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • Oct 04
Now 23% undervalued after recent price drop Over the last 90 days, the stock has fallen 3.0% to R3.20. The fair value is estimated to be R4.14, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 3.3% over the last 3 years. Meanwhile, the company became loss making. Declared Dividend • Sep 26
Dividend increased to R0.20 Dividend of R0.20 is 4.5% higher than last year. Ex-date: 9th October 2024 Payment date: 14th October 2024 Dividend yield will be 5.8%, which is about the same as the industry average. Announcement • Sep 24
Texton Property Fund Limited Declares Final Dividend for the Year-Ended 30 June 2024, Payable on October 14, 2024 The Board of directors of Texton Property Fund Limited announced that the company has declared a final dividend of 20.12758
cents per share for the year-ended 30 June 2024 (30 June 2023:19.26 cents). The total dividend for the year is 20.12758 cents per share (30 June 2023:19.26 cents). Assuming dividend withholding tax will be withheld at a rate of 20%, the net dividend amount due to non-resident shareholders is 16,10206 cents per share. The dividend is declared from income reserves. Shares to trade ex-dividend: October 9, 2024. Record date: October 11, 2024. Payment Date: October 14, 2024. Announcement • Sep 17
Texton Property Fund Limited to Report Fiscal Year 2024 Results on Sep 23, 2024 Texton Property Fund Limited announced that they will report fiscal year 2024 results on Sep 23, 2024 New Risk • Sep 16
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (9.4% operating cash flow to total debt). Minor Risks Latest financial reports are more than 6 months old (reported December 2023 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (9.0% average weekly change). Market cap is less than US$100m (R969.2m market cap, or US$54.6m). New Risk • Sep 06
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of South African stocks, typically moving 6.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (9.4% operating cash flow to total debt). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.3% average weekly change). Market cap is less than US$100m (R969.2m market cap, or US$54.7m). Buy Or Sell Opportunity • Sep 06
Now 27% overvalued after recent price rise Over the last 90 days, the stock has risen 13% to R3.75. The fair value is estimated to be R2.96, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 11% over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • Aug 21
Now 26% overvalued after recent price rise Over the last 90 days, the stock has risen 20% to R3.85. The fair value is estimated to be R3.06, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 11% over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • Jul 10
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 10% to R3.36. The fair value is estimated to be R2.73, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 11% over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • May 17
Now 24% overvalued after recent price rise Over the last 90 days, the stock has risen 33% to R3.32. The fair value is estimated to be R2.67, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 11% over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • Apr 30
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 27% to R3.18. The fair value is estimated to be R2.60, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 11% over the last 3 years. Meanwhile, the company became loss making. New Risk • Apr 11
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of South African stocks, typically moving 7.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (9.4% operating cash flow to total debt). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (7.3% average weekly change). Market cap is less than US$100m (R909.5m market cap, or US$48.3m). Buy Or Sell Opportunity • Apr 10
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 21% to R3.05. The fair value is estimated to be R2.48, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 11% over the last 3 years. Meanwhile, the company became loss making. Announcement • Mar 08
Texton Property Fund Limited Appoints Mr. Pienaar Welleman as Part-Time Financial Director Texton Property Fund Limited announced that regarding the resignation of the Chief Financial Officer ("CFO"), shareholders are advised that Mr. Pienaar Welleman, the Chief Executive Officer of Texton, has assumed the role of part-time Financial Director until a permanent appointment is made. Shareholders will be advised once the appointment of a permanent CFO has been finalised. New Risk • Mar 03
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 9.4% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (9.4% operating cash flow to total debt). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (R829.2m market cap, or US$43.4m). New Risk • Jan 23
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of South African stocks, typically moving 10% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (10% average weekly change). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (R829.2m market cap, or US$43.3m). Market cap is less than US$100m (R829.2m market cap, or US$43.3m). New Risk • Oct 30
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of South African stocks, typically moving 7.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (7.3% average weekly change). Market cap is less than US$100m (R859.1m market cap, or US$45.6m). Announcement • Oct 28
Texton Property Fund Limited, Annual General Meeting, Nov 29, 2023 Texton Property Fund Limited, Annual General Meeting, Nov 29, 2023, at 13:00 South Africa Standard Time. Upcoming Dividend • Oct 11
Upcoming dividend of R0.19 per share at 7.4% yield Eligible shareholders must have bought the stock before 18 October 2023. Payment date: 23 October 2023. Trailing yield: 7.4%. Lower than top quartile of South African dividend payers (9.5%). Higher than average of industry peers (6.5%). Reported Earnings • Sep 26
Full year 2023 earnings released: R0.043 loss per share (vs R0.11 profit in FY 2022) Full year 2023 results: R0.043 loss per share (down from R0.11 profit in FY 2022). Revenue: R321.9m (up 3.6% from FY 2022). Net loss: R14.2m (down 137% from profit in FY 2022). Over the last 3 years on average, earnings per share has increased by 46% per year and the company’s share price has also increased by 46% per year. Announcement • Sep 24
Texton Property Fund Limited Announces Cash Dividend Declaration for the Year Ended 30 June 2023, Payable on 23 October 2023 The Board of directors of Texton Property Fund Limited declared a final dividend of 19.26 cents per share for the year-ended 30 June 2023 (30 June 2022:7.00 cents). The total dividend for the year is 19.26 cents per share (30 June 2022:17.00 cents). Payment of the Cash Dividend on 23 October 2023. Record date for Shareholders to be registered in the Company'sSecurities Register in order to be entitled to receive the Circular on 22 September 2023. New Risk • Aug 02
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Large one-off items impacting financial results. Market cap is less than US$100m (R796.4m market cap, or US$42.9m). Announcement • May 27
Texton Property Fund Limited, Annual General Meeting, Jun 30, 2023 Texton Property Fund Limited, Annual General Meeting, Jun 30, 2023, at 16:00 South Africa Standard Time. Valuation Update With 7 Day Price Move • May 02
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to R2.50, the stock trades at a trailing P/E ratio of 11.2x. Average trailing P/E is 20x in the Office REITs industry globally. Total returns to shareholders of 126% over the past three years. Valuation Update With 7 Day Price Move • Apr 18
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to R2.99, the stock trades at a trailing P/E ratio of 13.4x. Average trailing P/E is 19x in the Office REITs industry globally. Total returns to shareholders of 170% over the past three years. Valuation Update With 7 Day Price Move • Mar 09
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to R2.60, the stock trades at a trailing P/E ratio of 11.6x. Average trailing P/E is 6x in the REITs industry in South Africa. Total returns to shareholders of 65% over the past three years. Board Change • Mar 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 5 experienced directors. 1 highly experienced director. CEO & Executive Director H. S. Welleman was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Nov 01
Texton Property Fund Limited, Annual General Meeting, Nov 30, 2022 Texton Property Fund Limited, Annual General Meeting, Nov 30, 2022, at 14:00 South Africa Standard Time. Buying Opportunity • Oct 27
Now 29% undervalued after recent price drop Over the last 90 days, the stock is down 30%. The fair value is estimated to be R3.52, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 17% over the last 3 years. Meanwhile, the company has become profitable. Upcoming Dividend • Oct 12
Upcoming dividend of R0.07 per share Eligible shareholders must have bought the stock before 19 October 2022. Payment date: 24 October 2022. Trailing yield: 5.7%. Lower than top quartile of South African dividend payers (8.9%). Lower than average of industry peers (10.0%). Buying Opportunity • Oct 05
Now 30% undervalued after recent price drop Over the last 90 days, the stock is down 25%. The fair value is estimated to be R3.66, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 17% over the last 3 years. Meanwhile, the company has become profitable. Announcement • Sep 16
Texton Property Fund Limited to Report Fiscal Year 2022 Results on Sep 23, 2022 Texton Property Fund Limited announced that they will report fiscal year 2022 results on Sep 23, 2022 Buying Opportunity • Sep 13
Now 22% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be R4.37, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Buying Opportunity • Jul 20
Now 25% undervalued Over the last 90 days, the stock is up 2.9%. The fair value is estimated to be R4.65, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Buying Opportunity • Jun 29
Now 21% undervalued Over the last 90 days, the stock is up 2.8%. The fair value is estimated to be R4.68, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 9.9% over the last 3 years. Meanwhile, the company has become profitable. Announcement • Jun 29
Cream Magenta 228 (Pty) Ltd and Property Genius (Pty) Ltd entered into an agreement to acquire Hermanstad Industrial Park from Texton Property Fund Limited (JSE:TEX) for approximately ZAR 130 million. Cream Magenta 228 (Pty) Ltd and Property Genius (Pty) Ltd entered into an agreement to acquire Hermanstad Industrial Park from Texton Property Fund Limited (JSE:TEX) for approximately ZAR 130 million on June 27, 2022. The Sale is subject to the following condition precedents (“Condition Precedents”) to be fulfilled by no later than 12 July 2022: - the Purchaser confirms that it is satisfied with its due diligence investigation undertaken in respect of the Property; - the Purchaser receives written confirmation that it has been granted loan funding on standard terms and conditions typical for a transaction of this nature; and - Finalisation of all requisite Seller board approvals. The proceeds of the Sale will be utilised to repay debt and invest to further develop its SME strategy. Announcement • Jun 10
An undisclosed buyer agreed to acquire 50% stake in Broad Street Mall from Texton Property Fund Limited for £57.5 million. An undisclosed buyer agreed to acquire 50% stake in Broad Street Mall from Texton Property Fund Limited for £57.5 million on June 9, 2022. Sale Consideration and will be settled in cash and contracts have been exchanged between Texton Property Fund Limited and the purchaser. The transaction is scheduled to close on 24 June 2022. Investec Bank Limited acted as the advisor to the seller. Buying Opportunity • Jun 02
Now 24% undervalued Over the last 90 days, the stock is up 1.4%. The fair value is estimated to be R4.75, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 9.9% over the last 3 years. Meanwhile, the company has become profitable. Buying Opportunity • Apr 05
Now 26% undervalued after recent price drop Over the last 90 days, the stock is down 7.4%. The fair value is estimated to be R4.77, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 9.9% over the last 3 years. Meanwhile, the company has become profitable. Upcoming Dividend • Mar 30
Inaugural dividend of R0.10 per share Eligible shareholders must have bought the stock before 06 April 2022. Payment date: 11 April 2022. The company last paid an ordinary dividend in September 2012. The average dividend yield among industry peers is 19%. Valuation Update With 7 Day Price Move • Mar 17
Investor sentiment deteriorated over the past week After last week's 19% share price decline to R3.21, the stock trades at a trailing P/E ratio of 5.4x. Average trailing P/E is 9x in the REITs industry in South Africa. Total returns to shareholders of 7.4% over the past three years. Buying Opportunity • Mar 11
Now 26% undervalued Over the last 90 days, the stock is up 4.2%. The fair value is estimated to be R4.75, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 9.9% per annum over the last 3 years. The company has become profitable over the last year. Announcement • Dec 11
Isibaya Properties Proprietary Limited agreed to acquire KwaZulu-Natal CBD retail asset from Texton Property Fund Limited (JSE:TEX) for approximately ZAR 130 million. Isibaya Properties Proprietary Limited agreed to acquire KwaZulu-Natal CBD retail asset from Texton Property Fund Limited (JSE:TEX) for approximately ZAR 130 million on December 9, 2021. The purchase price payable is R125 million and will be settled in cash. The proceeds of the Sale will be utilised to repay debt and further strengthen Texton’s balance sheet. The Sale is subject to the following condition precedents, the Purchaser confirms that it is satisfied with its due diligence investigation undertaken in respect of the Property by no later than 28 January 2022, by no later than 11 February 2022 the Purchaser receives written confirmation that it has been granted loan funding on standard terms and conditions typical for a transaction of this nature; and finalisation of all requisite Seller board approvals. The effective date of the Disposal will be the date on which all Condition Precedents have been fulfilled and the transfer date will be the date of registration of transfer of ownership of the Property. All other terms of the Agreement are standard terms and conditions typical for a transaction of this nature. Valuation Update With 7 Day Price Move • Nov 29
Investor sentiment deteriorated over the past week After last week's 21% share price decline to R3.30, the stock trades at a trailing P/E ratio of 5.6x. Average trailing P/E is 9x in the REITs industry in South Africa. Negligible returns to shareholders over past three years. Valuation Update With 7 Day Price Move • Nov 12
Investor sentiment improved over the past week After last week's 19% share price gain to R3.75, the stock trades at a trailing P/E ratio of 6.3x. Average trailing P/E is 10x in the REITs industry in South Africa. Total returns to shareholders of 23% over the past three years. Upcoming Dividend • Sep 29
Inaugural dividend of R0.37 per share Eligible shareholders must have bought the stock before 06 October 2021. Payment date: 11 October 2021. The company last paid an ordinary dividend in October 2019. The average dividend yield among industry peers is 9.4%. Is New 90 Day High Low • Mar 10
New 90-day high: R2.20 The company is up 83% from its price of R1.20 on 10 December 2020. The South African market is up 17% over the last 90 days, indicating the company outperformed over that time. It also outperformed the REITs industry, which is up 10.0% over the same period. Announcement • Feb 10
Heriot Investments Proprietary Limited acquired an additional unknown stake in Texton Property Fund Limited (JSE:TEX). Heriot Investments Proprietary Limited acquired an additional unknown stake in Texton Property Fund Limited (JSE:TEX) on February 9, 2021. Heriot Investments now holds 12.40% stake in Texton Property Fund Limited. Investec Bank Limited (JSE:INLP) acted as financial advisor to Texton Property Fund Limited
Heriot Investments Proprietary Limited acquired an additional unknown stake in Texton Property Fund Limited (JSE:TEX) on February 9, 2021. Is New 90 Day High Low • Feb 10
New 90-day high: R2.01 The company is up 70% from its price of R1.18 on 11 November 2020. The South African market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the REITs industry, which is up 12% over the same period. Is New 90 Day High Low • Jan 21
New 90-day high: R2.00 The company is up 138% from its price of R0.84 on 23 October 2020. The South African market is up 13% over the last 90 days, indicating the company outperformed over that time. It also outperformed the REITs industry, which is up 12% over the same period. Is New 90 Day High Low • Jan 04
New 90-day high: R1.60 The company is up 103% from its price of R0.79 on 06 October 2020. The South African market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the REITs industry, which is up 11% over the same period. Announcement • Dec 25
Heriot Investments Proprietary Limited acquired an additional unknown stake in Texton Property Fund Limited (JSE:TEX). Heriot Investments Proprietary Limited acquired an additional unknown stake in Texton Property Fund Limited (JSE:TEX) on December 24, 2020. Heriot Investments now holds 7.72% stake in Texton Property Fund Limited.
Heriot Investments Proprietary Limited completed the acquisition of an additional unknown stake in Texton Property Fund Limited (JSE:TEX) on December 24, 2020. Is New 90 Day High Low • Dec 12
New 90-day high: R1.29 The company is up 61% from its price of R0.80 on 11 September 2020. The South African market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the REITs industry, which is up 13% over the same period. Announcement • Nov 11
An unknown buyer acquired stake in Texton Property Fund Limited (JSE:TEX) from the clients of Coronation Asset Managers Proprietary Limited. An unknown buyer acquired stake in Texton Property Fund Limited (JSE:TEX) from the clients of Coronation Asset Managers Proprietary Limited on November 10, 2020.
An unknown buyer completed the acquisition of stake in Texton Property Fund Limited (JSE:TEX) from the clients of Coronation Asset Managers Proprietary Limited on November 10, 2020. Is New 90 Day High Low • Oct 29
New 90-day low: R0.74 The company is down 35% from its price of R1.14 on 31 July 2020. The South African market is down 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the REITs industry, which is down 12% over the same period. Is New 90 Day High Low • Oct 07
New 90-day low: R0.79 The company is down 32% from its price of R1.16 on 09 July 2020. The South African market is down 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the REITs industry, which is down 13% over the same period. Announcement • Oct 05
Texton Property Fund Limited to Report First Half, 2021 Results on Mar 10, 2021 Texton Property Fund Limited announced that they will report first half, 2021 results on Mar 10, 2021 Reported Earnings • Sep 26
Full year earnings released Over the last 12 months the company has reported total losses of R130.5m, with losses narrowing by 76% from the prior year. Total revenue was R553.9m over the last 12 months, largely unchanged from the prior year. Note: Net income excluding extraordinary items provided as the company does not report funds from operations. Announcement • Jun 28
Texton Property Fund Limited to Report Fiscal Year 2020 Results on Sep 23, 2020 Texton Property Fund Limited announced that they will report fiscal year 2020 results on Sep 23, 2020