1. South Africa Stocks

  2. •

    Real Estate

  3. •

    REIT - Diversified
Spear Reit Limited

Spear Reit Limited

SEA.JO
Spear Reit LimitedZA flagJohannesburg Stock Exchange
1,325.00
ZAc
+8.00
- -
5.52BMarket Cap
Spear Reit Limited
SEA.JO
(Johannesburg Stock Exchange)

Recent

price

1,325.00

P/E

ratio

- -

div

yld

- -

ROIC.AI

2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
FRC
2.31
2.16
2.36
2.59
2.55
2.65
2.5
2.74
- -
- -
Revenue per Share
2.55
2.72
1.5
1.03
0.25
0.76
0.79
1.62
- -
- -
Basic EPS, GAAP
1.51
0.26
0.09
0.17
0.05
0.15
0.19
0.16
- -
- -
Free Cash Flow per Basic Share
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Dividend per Share
38.4
13.56
12.66
12.13
11.28
12.14
11.12
13.59
- -
- -
Book Value per Share
38.49
13.97
13.02
12.57
11.5
12.34
11.25
13.7
- -
- -
Tangible Book Value per Share
26
141
180
201
208
217
232
225
- -
- -
Basic Weighted Avg Shares
59
304
426
520
530
574
580
616
690
852
Sales/Revenue/Turnover
54.93
65.08
59.75
61.46
60.12
55.36
55.48
55.33
53.91
52.99
Operating Margin (%)
- -
- -
3
7
12
14
15
15
16
17
Depreciation Expense
65
383
270
207
53
165
182
363
525
800
Net Income, GAAP
- -
0.18
0.09
- -
12.7
2.32
1.37
0.53
1.36
0.5
Effective Tax Rate (%)
110.4
126.03
63.45
39.89
9.99
28.71
31.41
58.9
76.1
93.88
Profit Margin (%)
13
49
-123
-188
-419
40
-12
143
-448
254
Working Capital
478
1,053
1,336
1,545
1,698
1,780
1,175
1,248
1,064
1,938
LT Debt
987
1,971
2,350
2,520
2,391
2,673
2,608
3,076
3,922
5,390
Total Equity
- -
8.48
7.2
- -
6.38
6.94
7.36
7.74
7.27
6.94
Return on Invested Capital (%)
- -
19.89
10.66
- -
4.22
7.04
7.42
12
12.83
14.72
Return on Capital (%)
- -
26.45
12.88
8.79
2.22
6.63
7
12.89
15.13
17.31
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
No data availableFinancial data will appear here once available

Working Capital

FRC

•

in mil. unless spec.
No data availableFinancial data will appear here once available

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
- -
18.44%
37.43%
Free Cash Flow
- -
64.96%
-6.59%
Net Income, GAAP
- -
83.55%
52.3%
Sales/Revenue/Turnover
- -
10.19%
23.45%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
616
2025
- -
- -
- -
- -
690
2026
- -
- -
- -
- -
852

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
1.62
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -
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Business
Spear REIT Limited (JSE: SEA) operates as a real estate investment trust focused on acquiring, owning and managing high-quality, income-generating properties across industrial, commercial and retail sectors predominantly in the Western Cape region of South Africa, with a portfolio comprising 39 properties totaling 487,418 square meters of gross lettable area valued at R5.53 billion, 97% occupied and featuring a weighted average lease expiry of 25 months; its core offerings include industrial assets (63% of portfolio by GLA, such as logistics parks and business parks like Consani Industrial Park and Berg River Business Park), commercial properties (26%, encompassing office and medical facilities), and retail centers (11%, including convenience malls like Maynard Mall), serving a diverse tenant base of 526 occupants ranging from JSE-listed companies to small and medium enterprises with internal asset and property management handled by its executive team. Founded in 2011 and headquartered in Cape Town, the company listed on the JSE AltX in November 2016 before transferring to the Main Board in May 2017, conducting operations directly and through subsidiaries without a parent entity. Recent developments include the acquisition of Maynard Mall in Wynberg for R455 million to bolster retail exposure, Consani Industrial Park in Elsie's River for R437.3 million enhancing industrial holdings at a 9.71% initial yield with planned R34 million capital upgrades, Berg River Business Park in Paarl for R182.15 million marking its entry into that market with a solar-enabled logistics asset, alongside a successful R457 million equity capital raise via private placement in June 2025 to fund expansions, and ongoing solar initiatives across properties amid resilient Western Cape demand.