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SA Corporate Real Estate Fund Managers Ltd

SA Corporate Real Estate Fund Managers Ltd

SAC · JSE · Real Estate / REIT - Diversified

348.00ZAC+2.00 (+0.58%)

Price History

Full chart

Market Stats

Previous Close346.00
Open349.00
Day Range343.00 – 354.00
52-Week Range303.00 – 404.00
Volume3.56M
Market Cap9.24B
P/E (TTM)11.62
Forward P/E9.96
EPS0.29
Dividend Yield0.00%
Beta0.36
50-Day Avg346.42
200-Day Avg354.65

About

SA Corporate Real Estate Limited (SA Corporate) is a JSE-listed Real Estate Investment Trust (REIT) and, together with its subsidiaries (SA Corporate Group), owns a diversified portfolio of quality industrial, retail and residential buildings, primarily located in the major metropolitan areas of South Africa, with a secondary node in Zambia. As of May 2026, the property portfolio consisted of 241 properties, with 1.6 million of gross lettable area (GLA m²), valued asset under management valued at R20.4 billion and exposure to direct and listed property valued at R18 billion excluding exposure to direct and listed property valued at R1.7 billion in Zambia). SA Corporate Real Estate Limited was incorporated in 1995 in South Africa.

Company Details

  • SectorReal Estate
  • IndustryREIT - Diversified
  • CEOMr. Terence Rory Mackey
  • Employees0
  • HeadquartersGreenPark Corner, 16th Floor, Johannesburg, South Africa, 2196, South Africa
  • Websitehttps://www.sacorporatefund.co.za

Leadership

  • Mr. Terence Rory MackeyCEO & Executive Director · b. 1962
  • Mr. Sameshan Yanasegran Moodley ACMA, BCom, CA(SA)CFO & Executive Director · b. 1977
  • Mr. Samson Joel Mojalefa C.A.Chief Operating Officer · b. 1982
  • Mr. Terence Kaplan B.Com., BACC, C.A., CA (SA)Head of Corporate Finance · b. 1976
  • Mr. Kevin van den HeeverManaging Director of AFHCO Property Management
  • Advocate Jacqui GroveGroup Company Secretary

Financials

Income Statement

Currency: ZAR2005-12-312007-12-312008-12-312009-12-312010-12-312011-12-312012-12-312013-12-312014-12-312015-12-312016-12-312017-12-312018-12-312019-12-312020-12-312021-12-312022-12-312023-12-312024-12-312025-12-31
Total Revenue288.20M735.37M1.02B1.09B871.99M1.24B1.23B1.19B1.41B1.61B1.83B2.11B2.31B2.28B2.06B2.12B2.04B2.54B2.94B2.92B
Growth (%)-+155.16%+39.28%+6.54%-20.09%+41.67%-0.61%-3.37%+18.75%+14.60%+13.54%+15.32%+9.26%-1.11%-9.71%+2.87%-3.72%+24.21%+15.92%-0.63%
Cost of Revenue69.33M166.47M--108.00M431.78M442.59M441.83M494.47M558.14M614.98M711.43M832.53M922.55M779.81M788.30M799.48M1.05B1.19B468.67M
Gross Profit218.88M568.90M1.02B1.09B763.99M803.54M785.25M744.58M914.40M1.06B1.22B1.40B1.48B1.36B1.28B1.33B1.24B1.48B1.75B2.45B
Gross Margin75.94%77.36%100.00%100.00%87.61%65.05%63.95%62.76%64.90%65.43%66.45%66.34%63.95%59.61%62.19%62.84%60.86%58.51%59.38%83.96%
Operating Expense14.65M38.88M389.64M539.84M177.42M150.42M161.96M129.57M236.66M302.27M290.33M343.24M479.83M515.00M616.52M715.68M205.03M-291.83M339.24M1.23B
Operating Income204.23M530.02M634.62M551.36M586.57M653.12M623.29M615.01M677.75M754.13M927.77M1.06B997.16M846.40M665.86M617.47M1.04B1.78B1.41B1.22B
Operating Margin70.86%72.07%61.96%50.53%67.27%52.87%50.76%51.84%48.11%46.71%50.61%50.11%43.18%37.06%32.29%29.11%50.82%70.01%47.85%41.80%
EBITDA208.67M549.05M580.04M717.14M770.67M793.68M988.65M1.11B1.16B870.95M840.03M976.38M986.94M858.80M690.15M1.48B1.31B1.90B1.43B1.36B
EBITDA Margin72.40%74.66%56.63%65.72%88.38%64.25%80.52%93.32%82.42%53.94%45.83%46.19%42.73%37.60%33.47%69.56%64.08%74.89%48.53%46.61%
Net Income544.71M1.09B-522.77M145.92M852.14M414.76M736.63M1.16B967.18M1.41B2.48B1.53B847.85M235.60M-1.49B620.88M819.31M1.21B645.83M564.01M
Net Income Margin189.00%148.04%-51.04%13.37%97.72%33.58%59.99%97.72%68.65%87.56%135.29%72.17%36.71%10.32%-72.43%29.27%40.11%47.65%21.96%19.30%
Interest Expense15.80M77.62M115.21M167.84M165.56M164.16M139.20M94.56M193.27M255.04M274.92M386.71M508.96M503.22M520.61M494.11M508.72M657.25M763.80M749.60M
Interest Expense % of Total Revenue5.48%10.56%11.25%15.38%18.99%13.29%11.34%7.97%13.72%15.80%15.00%18.29%22.04%22.03%25.25%23.29%24.91%25.91%25.97%25.65%

Balance Sheet

Currency: ZAR2005-12-312006-12-312007-12-312008-12-312009-12-312010-12-312011-12-312012-12-312013-12-312014-12-312015-12-312016-12-312017-12-312018-12-312019-12-312020-12-312021-12-312022-12-312023-12-312024-12-312025-12-31
Total Assets2.07B3.17B9.84B9.62B9.01B9.42B9.31B8.74B9.44B11.34B14.14B16.99B19.39B20.40B19.79B18.03B17.13B17.53B19.93B20.76B21.46B
Total Liabilities292.30M793.11M1.40B2.36B2.22B2.30B2.34B1.77B2.16B3.74B4.16B4.92B6.38B7.53B7.80B7.94B7.06B7.21B8.90B9.60B9.91B
Total Equity1.77B2.38B8.43B7.26B6.79B7.13B6.97B6.97B7.28B7.60B9.98B12.07B13.01B12.88B11.99B10.09B10.07B10.32B11.03B11.16B11.56B
Cash66.53M22.10M64.88M442.98M428.05M310.48M373.65M407.28M278.58M241.84M256.62M129.87M186.36M107.58M84.30M168.10M111.33M47.63M195.03M518.93M310.67M
Total Debt155.00M652.66M667.96M1.57B1.60B1.68B1.72B1.14B1.63B3.10B3.86B4.60B5.86B6.74B7.42B6.70B6.21B6.45B8.19B8.82B8.99B
Net Debt88.47M630.57M603.08M1.13B1.17B1.37B1.35B733.69M1.35B2.86B3.60B4.47B5.67B6.63B7.34B6.65B6.10B6.41B7.99B8.30B8.68B

Cash Flow

Currency: ZAR2005-12-312007-12-312008-12-312009-12-312010-12-312011-12-312012-12-312013-12-312014-12-312015-12-312016-12-312017-12-312018-12-312019-12-312020-12-312021-12-312022-12-312023-12-312024-12-312025-12-31
Operating Cash Flow171.49M469.20M-12.31M-70.99M-68.23M23.09M54.68M29.64M-159.08M-100.10M-91.55M-58.88M-94.95M-73.10M240.06M6.71M-193.66M730.47M84.66M672.22M
Investing Cash Flow-141.35M-2.17B-497.49M82.56M-133.68M1.43M708.14M-395.67M-783.07M-1.61B-1.34B-1.74B-802.72M-91.94M129.98M607.81M152.32M-364.56M-200.20M-102.00M
Financing Cash Flow-2.20B887.90M-26.50M84.33M38.65M-729.18M270.27M931.85M1.72B1.31B1.88B828.81M152.00M-395.49M-571.29M10.03M-350.91M583.51M-921.67M
Capital Expenditure00000174.75M0625.00K632.00K3.89M3.27M12.75M5.89M6.10M2.57M6.14M15.63M5.48M15.91M22.08M
Free Cash Flow171.49M469.20M-12.31M-70.99M-68.23M-151.66M54.68M29.64M-159.71M-103.99M-94.82M-71.64M-100.84M-79.20M237.50M562.00K-209.29M731.13M68.75M650.14M
Dividends Paid------612.54M627.80M676.07M757.96M949.33M1.09B1.12B1.03B444.10M709.21M643.24M567.54M601.17M656.77M
FCF to OCF100.00%100.00%100.00%100.00%100.00%-656.78%100.00%100.00%100.40%103.88%103.57%121.65%106.21%108.35%98.93%8.38%108.07%100.09%81.21%96.72%
Dividend Paid to FCF------1120.32%2118.00%-423.31%-728.86%-1001.19%-1518.98%-1110.02%-1306.69%186.99%126193.59%-307.34%77.62%874.41%101.02%

Key Statistics & Ratios

Market Cap9.24B
Enterprise Value17.72B
Trailing P/E11.62
Forward P/E9.96
Price / Sales2.97
Price / Book0.81
EPS0.29
Book Value4.30
Revenue (TTM)3.11B
Gross Profit (TTM)1.78B
EBITDA1.51B
Profit Margin25.83%
Operating Margin45.89%
Return on Equity6.94%
Return on Assets4.51%
Shares Outstanding2.74B
Shares Float1.83B
Beta0.36
Dividend Yield0.00%
Dividend Rate0.00
Payout Ratio91.02%

Dividends

20231×
11.18Apr 4, 2023
20222×
12.97Oct 19, 202212.62Apr 6, 2022
20212×
10.27Oct 20, 202117.93Apr 21, 2021
20202×
9.54Oct 7, 20208.12May 6, 2020
20192×
20.38Oct 2, 201920.52Apr 3, 2019
20182×
21.70Oct 3, 201822.54Mar 27, 2018
20172×
22.38Sep 27, 201721.58Mar 22, 2017
20162×
21.44Sep 28, 201619.91Mar 17, 2016
20152×
19.58Sep 18, 201517.95Mar 23, 2015
20142×
17.61Sep 19, 201416.40Mar 24, 2014
20132×
16.21Sep 20, 201314.92Mar 15, 2013
20122×
15.11Sep 21, 201214.42Mar 16, 2012
20111×
14.29Sep 19, 2011

Stock Splits

  • Nov 23, 2015727:724