Tower is an internally managed real estate investment trust (REIT) which owns a diversified portfolio of 42 convenience retail, office and industrial properties valued at R4.8 billion, located in South Africa and Croatia.
Tower Property Fund Competitors
Price History & Performance
|Historical stock prices|
|Current Share Price||R3.64|
|52 Week High||R1.94|
|52 Week Low||R3.80|
|1 Month Change||1.11%|
|3 Month Change||1.11%|
|1 Year Change||54.89%|
|3 Year Change||-43.13%|
|5 Year Change||-52.73%|
|Change since IPO||-63.60%|
Recent News & Updates
|TWR||ZA REITs||ZA Market|
Return vs Industry: TWR exceeded the ZA REITs industry which returned 39.4% over the past year.
Return vs Market: TWR exceeded the ZA Market which returned 21.2% over the past year.
Stable Share Price: TWR is less volatile than 75% of ZA stocks over the past 3 months, typically moving +/- 3% a week.
Volatility Over Time: TWR's weekly volatility (3%) has been stable over the past year.
About the Company
Tower is an internally managed real estate investment trust (REIT) which owns a diversified portfolio of 42 convenience retail, office and industrial properties valued at R4.8 billion, located in South Africa and Croatia. The South African portfolio is located in the country's major metropoles with 47% by value in Cape Town, 41% in Gauteng and 12% in KwaZulu Natal. The five Croatian properties represent 37% of the fund's total value.
Tower Property Fund Fundamentals Summary
|TWR fundamental statistics|
Is TWR overvalued?See Fair Value and valuation analysis
Earnings & Revenue
|TWR income statement (TTM)|
|Cost of Revenue||R55.39m|
Last Reported Earnings
May 31, 2021
Next Earnings Date
|Earnings per share (EPS)||-1.24|
|Net Profit Margin||-129.49%|
How did TWR perform over the long term?See historical performance and comparison
6.2%Current Dividend Yield
Is Tower Property Fund undervalued compared to its fair value and its price relative to the market?
Price to Book (PB) ratio
Share Price vs. Fair Value
Below Fair Value: TWR (ZAR3.64) is trading above our estimate of fair value (ZAR3.22)
Significantly Below Fair Value: TWR is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: TWR is unprofitable, so we can't compare its PE Ratio to the ZA REITs industry average.
PE vs Market: TWR 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 TWR's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: TWR's PB Ratio (0.6x) is in line with the ZA REITs industry average.
How is Tower 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 Tower 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 Tower Property Fund performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: TWR is currently unprofitable.
Growing Profit Margin: TWR is currently unprofitable.
Past Earnings Growth Analysis
Earnings Trend: TWR is unprofitable, and losses have increased over the past 5 years at a rate of 58% per year.
Accelerating Growth: Unable to compare TWR's earnings growth over the past year to its 5-year average as it is currently unprofitable
Earnings vs Industry: TWR is unprofitable, making it difficult to compare its past year earnings growth to the REITs industry (111.5%).
Return on Equity
High ROE: TWR has a negative Return on Equity (-16.96%), as it is currently unprofitable.
How is Tower Property Fund's financial position?
Financial Position Analysis
Short Term Liabilities: TWR's short term assets (ZAR375.0M) do not cover its short term liabilities (ZAR515.7M).
Long Term Liabilities: TWR's short term assets (ZAR375.0M) do not cover its long term liabilities (ZAR1.4B).
Debt to Equity History and Analysis
Debt Level: TWR's debt to equity ratio (78.8%) is considered high.
Reducing Debt: TWR's debt to equity ratio has increased from 73% to 78.8% over the past 5 years.
Debt Coverage: TWR's debt is not well covered by operating cash flow (3.4%).
Interest Coverage: TWR's interest payments on its debt are not well covered by EBIT (2.1x coverage).
What is Tower Property Fund current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: TWR's dividend (6.16%) is higher than the bottom 25% of dividend payers in the ZA market (3.05%).
High Dividend: TWR's dividend (6.16%) is low compared to the top 25% of dividend payers in the ZA market (8.04%).
Stability and Growth of Payments
Stable Dividend: TWR has been paying a dividend for less than 10 years and during this time payments have been volatile.
Growing Dividend: TWR has only been paying a dividend for 8 years, and since then payments have fallen.
Current Payout to Shareholders
Dividend Coverage: With its reasonable payout ratio (50.1%), TWR's dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.
How experienced are the management team and are they aligned to shareholders interests?
Average board tenure
Marc Edwards (46 yo)
Mr. Marc Edwards serves as the Chief Executive Officer of Tower Property Fund Limited. He Co-founded Tower Property Fund Limited in 2012. Mr. Edwards joined Spire in 2004 after working for a property finan...
CEO Compensation Analysis
Compensation vs Market: Marc's total compensation ($USD226.64K) is about average for companies of similar size in the ZA market ($USD283.37K).
Compensation vs Earnings: Marc's compensation has been consistent with company performance over the past year.
Experienced Board: TWR's board of directors are considered experienced (8.3 years average tenure).
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.
Tower Property Fund Limited's employee growth, exchange listings and data sources
- Name: Tower Property Fund Limited
- Ticker: TWR
- Exchange: JSE
- Founded: NaN
- Industry: Diversified REITs
- Sector: Real Estate
- Market Cap: R1.228b
- Shares outstanding: 337.24m
- Website: https://www.towerpropertyfund.co.za
- Tower Property Fund Limited
- Unit 606
- 6th Floor, Sunclare Building
- Western Cape
- South Africa
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2021/10/15 22:47|
|End of Day Share Price||2021/10/15 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.