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Spear REITJSE:SEA -0.95%67 Equity-to-Asset is 0.71 as of Feb. 2026, which is 18% above its 10-year median of 0.60. GuruFocus rates JSE:SEA with a GF Score™ of 67/100 and a GF Value™ of R6.52 (Significantly Overvalued). The stock has 11 warning signs investors should review. Among 921 REITs companies, Spear REIT ranks better than 67.54% on this metric.
Equity to Asset ratio is calculated as total stockholders equity divided by total asset. Spear REIT's Total Stockholders Equity for the quarter that ended in Feb. 2026 was R5,376.5 Mil. Spear REIT's Total Assets for the quarter that ended in Feb. 2026 was R7,584.1 Mil.
Therefore, Spear REIT's Equity to Asset Ratio for the quarter that ended in Feb. 2026 was 0.71.
The historical rank and industry rank for Spear REIT's Equity-to-Asset or its related term are showing as below:
JSE:SEA'
s Equity-to-Asset Range Over the Past 10 Years
Min: 0.52 Med: 0.6 Max: 0.71
Current: 0.71
During the past 10 years, the highest Equity to Asset Ratio of Spear REIT was 0.71. The lowest was 0.52. And the median was 0.60.
JSE:SEA's Equity-to-Asset is ranked better than 67.54% of 921
companies
in the REITs industry
Industry Median: 0.59
vs JSE:SEA: 0.71
Equity to Asset ratio can vary greatly across different industries, as they have different capital structure. A company with smaller Equity to Asset ratio (more leveraged) may have higher ROE % because of the leverage.
For banks, the required minimum Equity to Asset ratio by regulation is 5%. Some stronger banks may have Equity to Asset Ratio of more than 10%.
Spear REIT Equity-to-Asset Related Terms
Spear REIT Equity-to-Asset Historical Data
* Premium members only.
The historical data trend for Spear REIT's Equity-to-Asset can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the REIT - Diversified subindustry, Spear REIT's Equity-to-Asset, along with its competitors' market caps and Equity-to-Asset data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Spear REIT Equity-to-Asset vs REITs Industry
For the REITs industry and Real Estate sector, Spear REIT's Equity-to-Asset distribution charts can be found below:
* The bar in red indicates where Spear REIT's Equity-to-Asset falls into.
Equity to Asset ratio measures the ratios of the portion of the asset owned by shareholders out of the total asset. It indicates the leverage of the company, and the amount of debt the company uses in its operation.
Equity to Asset ratio is calculated by dividing total stockholders equity by total asset.
Spear REIT's Equity to Asset Ratio for the fiscal year that ended in Feb. 2026 is calculated as
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Spear REIT (JSE:SEA) has a Equity-to-Asset of 0.71 as of Feb. 2026. Equity-to-asset ratio equals total company equity divided by total assets. It measures financial leverage. View historical data on Spear REIT and its competitors. This is 18% above median its historical median of 0.60. Over the past decade, Spear REIT's Equity-to-Asset has ranged from 0.52 to 0.71. According to the industry distribution chart, Spear REIT ranks #299 out of 921 companies in the REITs industry, placing it in the top 32.5%.
Is Spear REIT's Equity-to-Asset too high?
Spear REIT's current Equity-to-Asset of 0.71 is 18% above median its 10-year median of 0.60. Over the past 10 years, this metric has ranged from a low of 0.52 to a high of 0.71. The REITs industry median Equity-to-Asset is 0.59. Spear REIT's value of 0.71 is 20.3% above this industry median. Based on the distribution chart, Spear REIT ranks #299 out of 921 companies in the REITs industry, which is above the industry midpoint. Overall, Spear REIT has a GF Score™ of 67/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Spear REIT's Equity-to-Asset compare to VICI and WPC?
According to the REITs industry distribution chart, Spear REIT ranks #299 out of 921 companies for Equity-to-Asset. This puts Spear REIT in the upper half of its industry. The industry median Equity-to-Asset is 0.59. Spear REIT's value of 0.71 is 20.3% above this benchmark. Historically, Spear REIT's own Equity-to-Asset has ranged from 0.52 to 0.71 over the past decade. While the company's 10-year median is 0.60 vs. the industry median of 0.59, Spear REIT has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Equity-to-Asset for a REITs company?
The median Equity-to-Asset among REITs companies is 0.59, based on 921 companies in the industry. Companies in the top quartile (top 25%) have a Equity-to-Asset significantly above this median, while those in the bottom quartile fall well below. However, Equity-to-Asset should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Spear REIT's current Equity-to-Asset of 0.71 is 20.3% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Equity-to-Asset mean?
A high Equity-to-Asset can signal that a stock is expensive relative to its fundamentals. Equity-to-asset ratio equals total company equity divided by total assets. It measures financial leverage. View historical data on Spear REIT and its competitors. For the REITs industry, the median Equity-to-Asset is 0.59 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Spear REIT's current Equity-to-Asset is 0.71, which is 18% above median its own 10-year median of 0.60. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Spear REIT stock overvalued right now?
Based on GuruFocus' analysis, Spear REIT (JSE:SEA) is currently considered Significantly Overvalued. The stock's GF Value™ is R6.52, compared to a current price of R12.48 — trading 91.4% above its estimated fair value. The current Equity-to-Asset is 0.71, which is 18% above median its 10-year median of 0.60 and 20.3% above the REITs industry median of 0.59. Spear REIT's overall GF Score™ is 67/100 with 11 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Equity-to-Asset calculated?
Equity-to-Asset is calculated from a company's financial statements. For Spear REIT (JSE:SEA), the current Equity-to-Asset is 0.71 as of Feb. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Spear REIT (JSE:SEA) Overvalued in 2026?
Based on GuruFocus' analysis, Spear REIT stock appears to be overvalued.
The current stock price of R12.48 is trading 91.4% above its estimated GF Value™ of R6.52.
GuruFocus considers Spear REIT to be Significantly Overvalued.
Key valuation signals for JSE:SEA:
Equity-to-Asset: 0.71 (18% above median its 10-year median of 0.60)
GF Value™: R6.52 vs. price of R12.48 (91.4% above fair value)
Industry Position: 20.3% above the REITs median (#299 of 921)
No single metric tells the full story. See the JSE:SEA stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Spear REIT Ltd is a real estate investment trust. The company has five segments Industrial, Commercial, Retail, Development, and Non-property. The company generates majority of revenue from Industrial segment. The industrial portfolio comprises a diverse range of multi-let industrial properties, warehouses, logistics parks, and urban logistics facilities. The company has presence in Cape.
67GF Score
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