Growthpoint Properties (GRT.JO)

Real Estate · JSE · South Africa

R17.39+0.52% today

Fundamentals

Market capR58.78B

P/E ratio11.5

Dividend yield7.72%

Revenue growth (YoY)-2.2%

Profit margin38.5%

Return on equity6.7%

52-week rangeR13.84 to R18.92

Next earnings2026-09-09

Valuation and ratings

DCF fair valueR19.76

Upside to fair value+13.6%

Analyst target (mean)R17.32

Analyst rangeR16.76 to R18.00

Analysts covering4

Consensus viewnone

Moat score69/100

Overall rating63/100, Buy

Growthpoint Properties trades at R17.39, close to the R19.76 our discounted cash flow model puts on the business. On this measure the market and the model broadly agree, so the interesting question is which of them is wrong.

Our moat model scores it 69 out of 100, which is a moat, but not a deep one. A moat is a structural reason competitors cannot take the profits away, and it matters more to a long holding period than any single quarter's numbers do.

It changes hands at 11.5 times earnings. Be careful reading that in isolation: for a cyclical business a low P/E arrives at the top of the cycle, when profits are peaking and about to fall, which is exactly when the shares look cheapest and are not.

About Growthpoint Properties

Growthpoint Properties Limited is an international property company that provides space to thrive incorporating innovative and sustainable property solutions. Growthpoint is the largest South African (SA) primary JSE-listed REIT with a quality portfolio of 492 properties across three major business units: Directly held SA portfolio, Offshore investments, Third-party fund management business Growthpoint Investment Partners (GIP). Growthpoint Properties Limited was incorporated on 12th October 1987 in South Africa.

Industry: REIT - DiversifiedHQ: South Africa

GRT.JO passes 4 of our 30 screens today

Each screen prints the exact criteria it used, and the circumstances in which it is wrong.

Dividend powerhouses

Yields above 3%, filtered for the one thing yield screens never check: whether the company can actually afford it.

Low volatility defensives

Companies that move less than the market and pay you to wait. The holdings that let you sleep, and let you hold everything else.

South Africa and the JSE

A commodity and currency market wearing an equity market's clothes. The index can rise on a good day in Beijing.

Dividend aristocrats

Companies with long, unbroken records of raising their dividend. The record is the point: it is evidence, not a promise.

Common questions

Is Growthpoint Properties (GRT.JO) undervalued?

Against our discounted cash flow estimate of R19.76, GRT.JO at R17.39 is 14% below fair value. That is one model's answer, not a recommendation, and most of a DCF's output sits in a terminal value nobody can forecast.

What is GRT.JO's P/E ratio?

GRT.JO trades at 11.5 times earnings. A low P/E is not automatically cheap: on a cyclical company it is usually a warning that earnings are at a peak.

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Data from company filings, exchange quotes and SEC EDGAR 13F disclosures. Quotes are delayed. Metrics we do not have are left out rather than estimated. Educational information, not financial advice.