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    Real estate investment trusts
Texton Property Fund Limited

Texton Property Fund Limited

JJSE:TEX
275.00
ZAC
0.00
(0.00%)
111.79BMarket Cap
Texton Property Fund Limited
JSE:TEX
(Johannesburg Stock Exchange)

Recent

price

275.00

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
ZAR
1.8
- -
1.48
1.87
1.7
2.02
1.68
1.68
1.66
1.57
1.46
1.25
0.97
0.9
0.97
0.79
- -
Revenue per Share
1.64
- -
0.18
1.18
1.21
1.73
0.95
0.81
-0.33
-1.52
-0.37
0.57
0.11
-0.04
-0.05
0.3
- -
Basic EPS, GAAP
0.09
- -
0.23
0.16
0.13
0.05
-0.06
0.34
-0.69
-0.08
0.03
0.38
-0.25
0.19
0.16
-0.15
- -
Free Cash Flow per Basic Share
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Dividend per Share
5.03
7.36
2.49
3.67
9.74
10.55
8.3
7.63
6.45
5.98
5.56
6.07
5.78
6.22
6.44
5.74
5.03
Book Value per Share
5.03
7.36
2.49
3.67
9.74
10.27
8.3
7.63
6.45
5.98
5.56
6.07
5.78
6.22
6.44
5.74
5.03
Tangible Book Value per Share
58
126
116
123
161
204
341
357
355
355
355
354
345
332
282
330
298
Basic Weighted Avg Shares
105
- -
172
230
274
411
572
599
589
556
519
442
333
299
273
260
- -
Sales/Revenue/Turnover
62.65
- -
54.32
62.48
62.04
63.18
63.36
67.23
64.96
59.03
57.28
52.87
44.25
47.3
45.33
40.58
- -
Operating Margin (%)
3
- -
4
4
6
6
7
8
9
10
17
9
10
10
8
8
- -
Depreciation Expense
96
- -
21
145
195
352
324
291
-117
-538
-131
202
38
-14
-14
98
- -
Net Income, GAAP
14.21
- -
62.45
- -
0.19
2.24
- -
4.69
- -
- -
- -
- -
20.28
- -
- -
- -
- -
Effective Tax Rate (%)
91.3
- -
12.28
63.23
71.15
85.67
56.6
48.59
-19.84
-96.81
-25.14
45.73
11.42
-4.74
-5.11
37.65
- -
Profit Margin (%)
-18
-19
-341
-331
-268
262
-586
-1,129
-2,183
-909
198
781
327
242
-410
59
51
Working Capital
426
- -
712
807
359
1,713
4
3
3
539
1,630
3
3
856
152
667
- -
LT Debt
293
428
307
453
1,592
2,881
3,011
2,716
2,289
2,124
1,973
2,120
1,964
2,097
1,919
1,716
1,504
Total Equity
- -
- -
4.02
- -
9.15
7.71
9.38
14.57
- -
- -
- -
- -
4.68
- -
- -
- -
- -
Return on Invested Capital (%)
- -
- -
8.56
- -
15.56
12.36
11.42
14.61
- -
- -
- -
- -
4.6
- -
- -
- -
- -
Return on Capital (%)
- -
- -
5.74
38.26
19.04
15.73
10.99
10.16
-4.67
-24.38
-6.37
9.87
1.86
-0.7
-0.69
5.39
- -
Return on Common Equity (%)

Capital Structure

ZAR

•

in mil. unless spec.
Dec'25
Jun'25
Dec'26
ST Debt
42
42
- -
LT Borrowings
694
667
- -
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
298
298
298
Market Capitalization
1,192
879
1,118

Working Capital

ZAR

•

in mil. unless spec.
Dec'25
Jun'25
Dec'26
Total Current Assets
485
146
99
Cash, Cash Equivalents & STI
399
117
66
Accounts Receivable, Net
30
23
28
Inventories
- -
- -
- -
Total Current Liabilities
93
88
48
Payables & Accruals
- -
- -
- -
ST Debt
42
42
- -
Deferred Revenue
- -
- -
- -

Growth Rates

ZAR

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
-4.75%
-2.44%
-10.57%
Free Cash Flow
-81.13%
145.64%
-209.15%
Net Income, GAAP
-114.99%
-255.24%
-801.65%
Sales/Revenue/Turnover
-3.32%
-12.65%
-4.76%
Total Cash Common Dividend
- -
- -
- -

Semi-annual Revenue

ZAR

•

in mil. unless spec.

Year

H1
H2
FY
2024
- -
- -
273
2025
- -
- -
260
2026
- -
- -
- -

Semi-annual Earnings Per Share

ZAR

•

in mil. unless spec.

Year

H1
H2
FY
2024
- -
- -
-0.05
2025
- -
- -
0.3
2026
- -
- -
- -

Semi-annual Dividends Per Share

ZAR

•

in mil. unless spec.

Year

H1
H2
FY
2024
- -
- -
- -
2025
- -
- -
- -
2026
- -
- -
- -
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Business
Texton Property Fund Limited is an internally managed Real Estate Investment Trust (REIT) engaged in the acquisition, investment, development, and asset management of direct commercial real estate properties and global real estate securities. Founded in 2006 and headquartered in Johannesburg, South Africa, the company operates across domestic and international markets, primarily maintaining property assets and investment exposures in South Africa, the United Kingdom, and the United States. Texton provides property portfolio solutions and commercial space leasing across key specialized segments: the Industrial segment, offering logistics warehouses, distribution depots, light industrial facilities, and storage properties tailored for manufacturing, freight, and supply chain operators; the Retail segment, offering convenience shopping centres, neighbourhood retail plazas, and standalone retail stores leased to grocery supermarket anchors and specialty merchants; the Office segment, providing multi-tenanted commercial office parks, corporate office complexes, and administrative business suites; and the International Real Estate Investment segment, offering direct and indirect capital allocation into offshore real estate funds, specialized debt securities, and co-investment joint ventures in logistics and residential real estate assets. In recent developments, Texton has undertaken a major strategic transformation to shift from a traditional direct property landlord to a diversified international real estate investment fund. Over the last two years, the company has executed an aggressive capital recycling and non-core asset disposal programme across its South African and United Kingdom direct portfolios to de-risk its balance sheet, lower loan-to-value gearing ratios, and reallocate capital into high-yielding United States real estate opportunities and debt funds. Operationally, Texton has expanded its offshore strategic co-investments in North American logistics and net-lease sectors while simultaneously modernizing its core Southern African asset base through the installation of solar photovoltaic systems, smart metering, and environmental sustainability initiatives.