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Heriot REITJSE:HET 69 PB Ratio is 1.12 as of Jul. 21, 2026, which is 18% above its 10-year median of 0.95. 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 928 REITs companies, Heriot REIT ranks worse than 73.6% on this metric.
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. As of today (2026-07-21), Heriot REIT's share price is R26.00. Heriot REIT's Book Value per Share for the quarter that ended in Dec. 2025 was R23.25. Hence, Heriot REIT's PB Ratio of today is 1.12.
Warning Sign:
Heriot REIT Ltd stock PB Ratio (=1.12) is close to 10-year high of 1.24.
The historical rank and industry rank for Heriot REIT's PB Ratio or its related term are showing as below:
JSE:HET'
s PB Ratio Range Over the Past 10 Years
Min: 0.72 Med: 0.95 Max: 1.24
Current: 1.12
During the past 8 years, Heriot REIT's highest PB Ratio was 1.24. The lowest was 0.72. And the median was 0.95.
JSE:HET's PB Ratio is ranked worse than 73.6% of 928
companies
in the REITs industry
Industry Median: 0.86
vs JSE:HET: 1.12
During the past 12 months, Heriot REIT's average Book Value Per Share Growth Rate was 21.30% per year.
During the past 3 years, the average Book Value Per Share Growth Rate was 17.70% per year.
During the past 5 years, the average Book Value Per Share Growth Rate was 14.40% per year.
During the past 8 years, the highest 3-Year average Book Value Per Share Growth Rate of Heriot REIT was 17.70% per year. The lowest was -0.50% per year. And the median was 11.80% per year.
The PB Ratio works the best for the businesses that earn most of their profit from their assets, e.g. banks and insurance companies.
Be Aware
Some businesses have very light assets, such as software companies or insurance agencies. The PB Ratio does not work well for these companies. Some companies even have negative equity, so the PB Ratio cannot be applied to them.
Heriot REIT PB Ratio Related Terms
Heriot REIT PB Ratio Historical Data
* Premium members only.
The historical data trend for Heriot REIT's PB 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.
For the REIT - Diversified subindustry, Heriot REIT's PB Ratio, along with its competitors' market caps and PB 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 PB Ratio vs REITs Industry
For the REITs industry and Real Estate sector, Heriot REIT's PB Ratio distribution charts can be found below:
* The bar in red indicates where Heriot REIT's PB Ratio falls into.
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. It is a ratio widely used to value stocks.
Heriot REIT's PB Ratio for today is calculated as follows:
* 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.
It can also be calculated from the numbers for the whole company:
A closely related ratio is called Price-to-Tangible-Book. The difference between Price-to-Tangible-Book and PB Ratio is that book value other than intangibles are used in the calculation.
Heriot REIT (JSE:HET) has a PB Ratio of 1.12 as of Jul. 21, 2026. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Heriot REIT and its competitors. This is 18% above median its historical median of 0.95. Over the past decade, Heriot REIT's PB Ratio has ranged from 0.72 to 1.24. According to the industry distribution chart, Heriot REIT ranks #683 out of 928 companies in the REITs industry, placing it in the top 73.6%.
Is Heriot REIT's PB Ratio too high?
Heriot REIT's current PB Ratio of 1.12 is 18% above median its 10-year median of 0.95. Over the past 10 years, this metric has ranged from a low of 0.72 to a high of 1.24. The REITs industry median PB Ratio is 0.86. Heriot REIT's value of 1.12 is 30.2% above this industry median. Based on the distribution chart, Heriot REIT ranks #683 out of 928 companies in the REITs industry, which is below the industry midpoint. 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 PB Ratio compare to VICI and WPC?
According to the REITs industry distribution chart, Heriot REIT ranks #683 out of 928 companies for PB Ratio. This places Heriot REIT in the lower half of its industry. The industry median PB Ratio is 0.86. Heriot REIT's value of 1.12 is 30.2% above this benchmark. Historically, Heriot REIT's own PB Ratio has ranged from 0.72 to 1.24 over the past decade. While the company's 10-year median is 0.95 vs. the industry median of 0.86, Heriot 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 PB Ratio for a REITs company?
The median PB Ratio among REITs companies is 0.86, based on 928 companies in the industry. Companies in the top quartile (top 25%) have a PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Heriot REIT's current PB Ratio of 1.12 is 30.2% 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 PB Ratio mean?
A high PB Ratio can signal that a stock is expensive relative to its fundamentals. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Heriot REIT and its competitors. For the REITs industry, the median PB Ratio is 0.86 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Heriot REIT's current PB Ratio is 1.12, which is 18% above median its own 10-year median of 0.95. 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 PB Ratio is 1.12, which is 18% above median its 10-year median of 0.95 and 30.2% above the REITs industry median of 0.86. 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 PB Ratio calculated?
PB Ratio is calculated from a company's financial statements. For Heriot REIT (JSE:HET), the current PB Ratio is 1.12 as of Jul. 21, 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 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:
PB Ratio: 1.12 (18% above median its 10-year median of 0.95)
GF Value™: R23.54 vs. price of R26.00 (10.5% above fair value)
Industry Position: 30.2% above the REITs median (#683 of 928)
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 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
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