Emira is a real estate investment trust (REIT) with a diversified portfolio balanced to deliver stability and sustainability through different cycles. This risk-mitigating strategy includes a mix of domestic and international assets in direct holdings and indirect investments with specialist co-investors. Emira’s direct South African portfolio of 84 properties worth R12.1bn is diversified across commercial property sectors and residential rental property. Emira’s exposure to the United States is with US-based partner The Rainier Companies. Emira holds equity interests, with unanimous voting rights, in 12 dominant, value-oriented grocery-anchored power centres. The local portfolio performed well, surpassing most key targets. SA commercial vacancies are already low and tightened to 3.9% from 4.1%. The portfolio saw an increase in like-for-like valuation of 4.7%, reflecting enhanced metrics across all three sectors and improved business sentiment. Residential occupancy remained strong at 96.7% and, similarly, maintained like-for-like valuation levels. Both sets of metrics signal a property portfolio that is attractive, competitive, adaptable and designed for lasting performance.
Metrics to compare | EMIJ | Sector Sector - Average of metrics from a broad group of related Real Estate sector companies | Relationship RelationshipEMIJPeersSector | |
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P/E Ratio | 2.1x | 6.9x | 8.5x | |
PEG Ratio | 0.01 | 0.03 | 0.01 | |
Price/Book | 0.5x | 0.7x | 0.9x | |
Price / LTM Sales | 2.5x | 3.1x | 3.7x | |
Upside (Analyst Target) | 15.2% | 6.7% | 14.7% | |
Fair Value Upside | Unlock | 7.9% | 2.9% | Unlock |