May 29 2026 13:20
JOHANNESBURG, SOUTH AFRICA
JSE-listed Emira Property Fund has sold down its US holdings and invested in Octodec Investments, as was reported in its latest set of financial results.
During the reproting period, the group’s US holdings decreased from $673.6m to $381.5m. Emira, which also has exposure to the SA and Polish markets on Thursday said its distribution growth was healthy and that its dividend per share (DPS) had climbed about 4% for the 2026 financial year to end-March, which was short of a number of its peers.
The fund delivered 3.7% growth in distributable income per share to 129.53 cents and DPS growth of 4.1% to 129.01c.
This was just above SA’s inflation rate, which averaged 3.2% in 2025 and had climbed to 4% in April in the wake of the Middle East Conflict and a surge in global fuel prices.
CEO James Day said the performance was ‘robust’ and ‘pleasing’.
Distributable income was FY2026 is R648.1m compared with R642.2m for the prior year. Its distribution and DPS were affected by asset disposals in the US and SA, resulting in the group having cash in hand of around R1.6bn at year-end.
Emira’s share price fell 2.47% to R14.60. Day isaid the group’s financial performance was strong, considering headwinds the group faced in the markets that it operates in, which included the stronger rand that affected its income from the US and Poland. Day said disposals also affected the financial performance, but other financial metrics like the group’s LTV and net asset value had improved.
“Emira has entered our 2027 financial year well positioned, despite elevated geopolitical risks that have renewed upward inflationary and interest rate pressures. Our diversified portfolio supports resilient returns across market cycles, our capital recycling strategy continues to unlock value, and our balance sheet is well managed and well capitalised,” said Day.
The group is forecasting around 4c per share distributable earnings growth for the 2027.
Emira’s market capitalisation is R7.3bn
alistair@propertyflash.co.za
