Heriot REIT (JSE:HET) Dividend Payout Ratio: 0.71 (As of Dec. 2025) — 29% Below Median

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Heriot REIT Ltd JSE:HET

69 GF Score

Price R26.00

GF Value R23.54

Valuation Fairly Valued

13 Warning Signs

View Full Analysis

What is Heriot REIT Dividend Payout Ratio?

Heriot REIT JSE:HET 69 Dividend Payout Ratio is 0.71 as of Dec. 2025, which is 29% below its 10-year median of 1.00. GuruFocus rates JSE:HET with a GF Score™ of 69/100 and a GF Value™ of R23.54 (Fairly Valued). The stock has 13 warning signs investors should review. Among 717 REITs companies, Heriot REIT ranks better than 76.15% on this metric.

The Dividend Payout Ratio is the measure of dividends paid out to shareholders relative to the company's net income. It is calculated as the Dividends per Share divided by the Earnings per Share (Diluted) during the same time period. Heriot REIT's Dividend Payout Ratio for the months ended in Dec. 2025 was 0.71.

The historical rank and industry rank for Heriot REIT's Dividend Payout Ratio or its related term are showing as below:

JSE:HET' s Dividend Payout Ratio Range Over the Past 10 Years
Min: 0.38 Med: 1 Max: 2.23
Current: 0.7

During the past 8 years, the highest Dividend Payout Ratio of Heriot REIT was 2.23. The lowest was 0.38. And the median was 1.00.

JSE:HET's Dividend Payout Ratio is ranked better than
76.15% of 717 companies
in the REITs industry
Industry Median: 0.99 vs JSE:HET: 0.70

As of today (2026-07-21), the Dividend Yield % of Heriot REIT is 5.05%.

During the past 8 years, the highest Trailing Annual Dividend Yield of Heriot REIT was 9.02%. The lowest was 4.37%. And the median was 7.57%.

Heriot REIT's Dividends per Share for the months ended in Dec. 2025 was R0.65.

During the past 12 months, Heriot REIT's average Dividends Per Share Growth Rate was 14.20% per year. During the past 3 years, the average Dividends Per Share Growth Rate was 5.30% per year. During the past 5 years, the average Dividends Per Share Growth Rate was 6.50% per year.

During the past 8 years, the highest 3-Year average Dividends Per Share Growth Rate of Heriot REIT was 8.10% per year. The lowest was 5.10% per year. And the median was 5.70% per year.

The growth rate is calculated with least square regression.

For more information regarding to dividend, please check our Dividend Page.

* Please note that "special dividend" is not included in the calculation of dividend per share and related fields.

Heriot REIT (JSE:HET) Dividend Payout Ratio Explanation

In dividends investing, Dividend Payout Ratio and Dividend Growth Rate are the two most important variables for consideration. A lower payout ratio may indicate that the company has more room to increase its dividends.

Heriot REIT Dividend Payout Ratio Related Terms

Heriot REIT Dividend Payout Ratio Historical Data

* Premium members only.

The historical data trend for Heriot REIT's Dividend Payout Ratio 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.

Heriot REIT Dividend Payout Ratio Chart

Heriot REIT Annual Data

Trend

Jun18

Jun19

Jun20

Jun21

Jun22

Jun23

Jun24

Jun25

Dividend Payout Ratio

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0.76

0.38

1.15

1.03

0.84

Heriot REIT Semi-Annual Data
	Nov17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23	Jun24	Dec24	Jun25	Dec25
Dividend Payout Ratio	Get a 7-Day Free Trial												0.53	0.31	1.09	0.68	0.71

JSE:HET vs VICI, WPC: Dividend Payout Ratio Comparison

For the REIT - Diversified subindustry, Heriot REIT's Dividend Payout Ratio, along with its competitors' market caps and Dividend Payout Ratio 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.

Heriot REIT Dividend Payout Ratio vs REITs Industry

For the REITs industry and Real Estate sector, Heriot REIT's Dividend Payout Ratio distribution charts can be found below:

* The bar in red indicates where Heriot REIT's Dividend Payout Ratio falls into.

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69GF Score

Heriot REIT Ltd JSE:HET

Dividend Payout Ratio is just one metric. See GF Score™, valuation, warning signs, and more.

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Heriot REIT Dividend Payout Ratio Calculation

Heriot REIT's Dividend Payout Ratio for the fiscal year that ended in Jun. 2025 is calculated as

Dividend Payout Ratio	=	Dividends per Share (A: Jun. 2025 )	/	EPS without NRI (A: Jun. 2025 )
	=	1.136	/	1.355
	=	0.84

Heriot REIT's Dividend Payout Ratio for the quarter that ended in Dec. 2025 is calculated as

Dividend Payout Ratio	=	Dividends per Share (Q: Dec. 2025 )	/	EPS without NRI (Q: Dec. 2025 )
	=	0.651	/	0.916
	=	0.71

Frequently Asked Questions Learn more about Dividend Payout Ratio →

What does a Dividend Payout Ratio of 0.71 mean?

Heriot REIT (JSE:HET) has a Dividend Payout Ratio of 0.71 as of Dec. 2025. Dividend payout ratio is the percent of company earnings paid out as dividends. View historical data on Heriot REIT and its competitors. This is 29% below median its historical median of 1.00. Over the past decade, Heriot REIT's Dividend Payout Ratio has ranged from 0.38 to 2.23. According to the industry distribution chart, Heriot REIT ranks #171 out of 717 companies in the REITs industry, placing it in the top 23.8%.

Is Heriot REIT's Dividend Payout Ratio too high?

Heriot REIT's current Dividend Payout Ratio of 0.71 is 29% below median its 10-year median of 1.00. Over the past 10 years, this metric has ranged from a low of 0.38 to a high of 2.23. The REITs industry median Dividend Payout Ratio is 0.99. Heriot REIT's value of 0.71 is 28.3% below this industry median. Based on the distribution chart, Heriot REIT ranks #171 out of 717 companies in the REITs industry, which is in the top quartile — a strong position relative to peers. Overall, Heriot REIT has a GF Score™ of 69/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.

How does Heriot REIT's Dividend Payout Ratio compare to VICI and WPC?

According to the REITs industry distribution chart, Heriot REIT ranks #171 out of 717 companies for Dividend Payout Ratio. This places Heriot REIT in the top 24% of its industry — outperforming the majority of peers. The industry median Dividend Payout Ratio is 0.99. Heriot REIT's value of 0.71 is 28.3% below this benchmark. Historically, Heriot REIT's own Dividend Payout Ratio has ranged from 0.38 to 2.23 over the past decade. While the company's 10-year median is 1.00 vs. the industry median of 0.99, Heriot REIT has consistently been below 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 Dividend Payout Ratio for a REITs company?

The median Dividend Payout Ratio among REITs companies is 0.99, based on 717 companies in the industry. Companies in the top quartile (top 25%) have a Dividend Payout Ratio significantly above this median, while those in the bottom quartile fall well below. However, Dividend Payout Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Heriot REIT's current Dividend Payout Ratio of 0.71 is 28.3% below 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 Dividend Payout Ratio mean?

A high Dividend Payout Ratio can signal that a stock is expensive relative to its fundamentals. Dividend payout ratio is the percent of company earnings paid out as dividends. View historical data on Heriot REIT and its competitors. For the REITs industry, the median Dividend Payout Ratio is 0.99 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Heriot REIT's current Dividend Payout Ratio is 0.71, which is 29% below median its own 10-year median of 1.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Heriot REIT stock overvalued right now?

Based on GuruFocus' analysis, Heriot REIT (JSE:HET) is currently considered Fairly Valued. The stock's GF Value™ is R23.54, compared to a current price of R26.00 — trading 10.5% above its estimated fair value. The current Dividend Payout Ratio is 0.71, which is 29% below median its 10-year median of 1.00 and 28.3% below the REITs industry median of 0.99. Heriot REIT's overall GF Score™ is 69/100 with 13 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.

How is Dividend Payout Ratio calculated?

Dividend Payout Ratio is calculated from a company's financial statements. For Heriot REIT (JSE:HET), the current Dividend Payout Ratio is 0.71 as of Dec. 2025. 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 Heriot REIT (JSE:HET) Overvalued in 2026?

Based on GuruFocus' analysis, Heriot REIT stock appears to be overvalued. The current stock price of R26.00 is trading 10.5% above its estimated GF Value™ of R23.54. GuruFocus considers Heriot REIT to be Fairly Valued.

Key valuation signals for JSE:HET:

Dividend Payout Ratio: 0.71 (29% below median its 10-year median of 1.00)
GF Value™: R23.54 vs. price of R26.00 (10.5% above fair value)
GF Score™: 69/100 with 13 warning signs
Industry Position: 28.3% below the REITs median (#171 of 717)

No single metric tells the full story. See the JSE:HET stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Heriot REIT Business Description

Industry Real Estate REITs

Comparable Companies JSE:BTN JSE:SEA JSE:EMI JSE:SAC JSE:OCT JSE:ATT JSE:OAS JSE:NRL ASX:GMG VICI WPC BSP:HSRE11 ASX:CHC ASX:SGP XPAR:COV ASX:GPT LSE:LAND MEX:FUNO11 LSE:BLND ASX:MGR

Address 3 Melrose Boulevard, Suite 1, Ground Floor, Melrose Arch, Johannesburg, GT, ZAF, 2196

Website http://www.heriotreit.com

Heriot REIT Ltd is a South African real estate investment trust. The company's primary segments include retail, industrial, office, specialized, residential, and others. While the majority of the revenue is earned from the Retail segment. The primary objective of the company is to develop or acquire yield-enhancing assets within Southern Africa to create a stable and diverse portfolio for the purposes of generating capital growth and securing escalating net rental income streams. Geographically, the company operates in Gauteng, Western Cape, KwaZulu-Natal, North West, Mpumalanga, Limpopo, Free State, and Namibia.

69GF Score

Get the complete analysis for JSE:HET

Dividend Payout Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

R26.00

Price

R23.54

GF Value

View JSE:HET Analysis

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