Emira Property Fund Limited (EMI) Fair Value & Analysis
Real Estate · ZA · Market cap 6.9B ZAC
Fair value as of: Jun 26, 2026
From 15 valuation models · updated 7 days ago
Fair value updated Jun 26, 2026 — revised from R23.54 to R22.19 (−5.7%) since Jun 24, 2026. Share price −11.4% over the past month.
Price vs Fair Value (12 months)
12‑month range R11.37 – R16.60 · fair‑value band R13.50 – R29.42 · the R13.79 price screens below the R22.19 fair value. As of Jun 26, 2026.
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Emira Property Fund Limited (EMI) currently trades at R13.79, while our model-based Fair Value estimate is R22.19 — implying the stock looks roughly 60.9% undervalued today. We read business quality at 56/100 (solid quality), in the Real Estate sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high) — always confirm before acting.
Over the trailing twelve months, Emira Property Fund Limited generated revenue of 1.5B ZAR at a net margin of 49.8%. It earns a return on equity of 7.4%. Net debt stands at 5.9B ZAR. The stock trades on a trailing P/E of 9.7. Fundamentals as of Jun 26, 2026
Key figures & financial health
More key figures
Figures from reported company fundamentals (EODHD) · as of Jun 26, 2026. TTM = trailing twelve months.
About the company
Emira Property Fund Limited is a Real Estate Investment Trust (REIT) domiciled in South Africa and, together with all its subsidiaries, owns a portfolio of property investments which are sectorally and geographically diversified. Emira continues to deliver returns throughout the cycles by way of this risk-mitigating diversification strategy. The Fund has direct property holdings as well as indirect property investments, through equity investments in property owning companies with specialist third-party co-investors. In South Africa, the Fund owns a direct portfolio of properties diversified across the retail, industrial, office and residential sectors, which it segregates between the Commercial Portfolio (the retail, industrial and office properties) and the Residential Portfolio (the residential properties) respectively. The Residential Portfolio includes the properties of Transcend Residential Property Fund (Pty) Ltd (Transcend), a specialist residential property company wholly …
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Emira Property Fund Limited reported revenue of R1.7B in FY2025 versus R1.5B in FY2021, a compound +3.5%/yr. Reported net income was R2.4B in FY2025, compounding +50.2%/yr from FY2021.
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|---|---|---|---|
| Goodman Group GMG | A$31.10 | A$10.84 | -65% |
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| W. P. Carey Inc WPC | $71.43 | $55.97 | -22% |
| Stockland STKAF | $2.90 | $2.58 | -11% |
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| FNCDY FNCDY | $17.03 | $20.86 | +22% |
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data — nothing guessed.
Educational research only · not financial advice · no buy/sell recommendation. Model-based estimates are not certainties; their reliability depends on data quality and assumptions.