Spear REIT (JSE:SEA) Dividend Payout Ratio: 0.31 (As of Feb. 2026) — 66% Below Median


JSE:SEA Spear REIT Ltd JSE:SEA
63 GF Score
Price R13.26
GF Value R7.00
Valuation Significantly Overvalued
! 11 Warning Signs
View Full Analysis

What is Spear REIT Dividend Payout Ratio?

Spear REIT JSE:SEA +0.45% 63 Dividend Payout Ratio is 0.31 as of Feb. 2026, which is 66% below its 10-year median of 0.92. GuruFocus rates JSE:SEA with a GF Score™ of 63/100 and a GF Value™ of R7.00 (Significantly Overvalued). The stock has 11 warning signs investors should review. Among 714 REITs companies, Spear REIT ranks better than 88.52% 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. Spear REIT's Dividend Payout Ratio for the months ended in Feb. 2026 was 0.31.

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

JSE:SEA' s Dividend Payout Ratio Range Over the Past 10 Years
Min: 0.41   Med: 0.92   Max: 1
Current: 0.47

During the past 10 years, the highest Dividend Payout Ratio of Spear REIT was 1.00. The lowest was 0.41. And the median was 0.92.

JSE:SEA's Dividend Payout Ratio is ranked better than
88.52% of 714 companies
in the REITs industry
Industry Median: 0.99 vs JSE:SEA: 0.47

As of today (2026-07-01), the Dividend Yield % of Spear REIT is 6.53%.

During the past 10 years, the highest Trailing Annual Dividend Yield of Spear REIT was 18.08%. The lowest was 5.76%. And the median was 8.50%.

Spear REIT's Dividends per Share for the months ended in Feb. 2026 was R0.42.

During the past 12 months, Spear REIT's average Dividends Per Share Growth Rate was 4.00% per year. During the past 3 years, the average Dividends Per Share Growth Rate was 4.80% per year. During the past 5 years, the average Dividends Per Share Growth Rate was 3.60% per year.

During the past 10 years, the highest 3-Year average Dividends Per Share Growth Rate of Spear REIT was 8.70% per year. The lowest was -9.20% per year. And the median was 2.55% 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.

Spear REIT (JSE:SEA) 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.

Spear REIT Dividend Payout Ratio Related Terms

Spear REIT Dividend Payout Ratio Historical Data

* Premium members only.

The historical data trend for Spear 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.

Spear REIT Dividend Payout Ratio Chart

Spear REIT Annual Data
Trend Feb17 Feb18 Feb19 Feb20 Feb21 Feb22 Feb23 Feb24 Feb25 Feb26
Dividend Payout Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.81 0.92 0.95 0.95 0.41

Spear REIT Semi-Annual Data
Feb17 Aug17 Feb18 Aug18 Feb19 Aug19 Feb20 Aug20 Feb21 Aug21 Feb22 Aug22 Feb23 Aug23 Feb24 Aug24 Feb25 Aug25 Feb26
Dividend Payout Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.92 1.07 0.84 0.98 0.31

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

For the REIT - Diversified subindustry, Spear 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.

Spear REIT Dividend Payout Ratio vs REITs Industry

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

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


JSE:SEA
63GF Score
Spear REIT Ltd JSE:SEA
Dividend Payout Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Spear REIT Dividend Payout Ratio Calculation

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.

Spear REIT's Dividend Payout Ratio for the fiscal year that ended in Feb. 2026 is calculated as

Dividend Payout Ratio=Dividends per Share (A: Feb. 2026 )/ EPS without NRI (A: Feb. 2026 )
=0.833/ 2.059
=0.40

Spear REIT's Dividend Payout Ratio for the quarter that ended in Feb. 2026 is calculated as

Dividend Payout Ratio=Dividends per Share (Q: Feb. 2026 )/ EPS without NRI (Q: Feb. 2026 )
=0.416/ 1.338
=0.31

* 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.

Frequently Asked Questions Learn more about Dividend Payout Ratio →
What does a Dividend Payout Ratio of 0.31 mean?
Spear REIT (JSE:SEA) has a Dividend Payout Ratio of 0.31 as of Feb. 2026. Dividend payout ratio is the percent of company earnings paid out as dividends. View historical data on Spear REIT and its competitors. This is 66% below median its historical median of 0.92. Over the past decade, Spear REIT's Dividend Payout Ratio has ranged from 0.41 to 1.00. According to the industry distribution chart, Spear REIT ranks #82 out of 714 companies in the REITs industry, placing it in the top 11.5%.
Is Spear REIT's Dividend Payout Ratio too high?
Spear REIT's current Dividend Payout Ratio of 0.31 is 66% below median its 10-year median of 0.92. Over the past 10 years, this metric has ranged from a low of 0.41 to a high of 1.00. The REITs industry median Dividend Payout Ratio is 0.99. Spear REIT's value of 0.31 is 68.7% below this industry median. Based on the distribution chart, Spear REIT ranks #82 out of 714 companies in the REITs industry, which is in the top quartile — a strong position relative to peers. Overall, Spear REIT has a GF Score™ of 63/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Spear REIT's Dividend Payout Ratio compare to VICI and WPC?
According to the REITs industry distribution chart, Spear REIT ranks #82 out of 714 companies for Dividend Payout Ratio. This places Spear REIT in the top 12% of its industry — outperforming the majority of peers. The industry median Dividend Payout Ratio is 0.99. Spear REIT's value of 0.31 is 68.7% below this benchmark. Historically, Spear REIT's own Dividend Payout Ratio has ranged from 0.41 to 1.00 over the past decade. While the company's 10-year median is 0.92 vs. the industry median of 0.99, Spear 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 714 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. Spear REIT's current Dividend Payout Ratio of 0.31 is 68.7% 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 Spear 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. Spear REIT's current Dividend Payout Ratio is 0.31, which is 66% below median its own 10-year median of 0.92. 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 R7.00, compared to a current price of R13.26 — trading 89.4% above its estimated fair value. The current Dividend Payout Ratio is 0.31, which is 66% below median its 10-year median of 0.92 and 68.7% below the REITs industry median of 0.99. Spear REIT's overall GF Score™ is 63/100 with 11 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 Spear REIT (JSE:SEA), the current Dividend Payout Ratio is 0.31 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 R13.26 is trading 89.4% above its estimated GF Value™ of R7.00. GuruFocus considers Spear REIT to be Significantly Overvalued.

Key valuation signals for JSE:SEA:

  • Dividend Payout Ratio: 0.31 (66% below median its 10-year median of 0.92)
  • GF Value™: R7.00 vs. price of R13.26 (89.4% above fair value)
  • GF Score™: 63/100 with 11 warning signs
  • Industry Position: 68.7% below the REITs median (#82 of 714)

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 Business Description

Industry Real EstateREITs
Address 2 Long Street, PO Box 50, 16th Floor, Observatory, 7935, Cape Town, ZAF, 8001
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.
63GF Score

Get the complete analysis for JSE:SEA

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

R13.26
Price
R7.00
GF Value