Spear REIT (JSE:SEA) ROE % Adjusted to Book Value: 21.04% (As of Feb. 2026)

Spear REIT JSE:SEA +0.45% 63 ROE % Adjusted to Book Value is 21.04% as of Feb. 2026. 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.

Spear REIT's ROE % for the quarter that ended in Feb. 2026 was 21.25%. Spear REIT's PB Ratio for the quarter that ended in Feb. 2026 was 1.01. Spear REIT's ROE % Adjusted to Book Value for the quarter that ended in Feb. 2026 was 21.04%.

Spear REIT ROE % Adjusted to Book Value Related Terms

Spear REIT ROE % Adjusted to Book Value Historical Data

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The historical data trend for Spear REIT's ROE % Adjusted to Book Value 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 ROE % Adjusted to Book Value Chart

Spear REIT Annual Data

Trend

Feb17

Feb18

Feb19

Feb20

Feb21

Feb22

Feb23

Feb24

Feb25

Feb26

ROE % Adjusted to Book Value

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8.76

10.86

18.06

18.83

17.06

Spear REIT Semi-Annual Data
	Feb17	Aug17	Feb18	Aug18	Feb19	Aug19	Feb20	Aug20	Feb21	Aug21	Feb22	Aug22	Feb23	Aug23	Feb24	Aug24	Feb25	Aug25	Feb26
ROE % Adjusted to Book Value	Get a 7-Day Free Trial														24.58	9.44	28.95	14.06	21.04

JSE:SEA vs VICI, WPC: ROE % Adjusted to Book Value Comparison

For the REIT - Diversified subindustry, Spear REIT's ROE % Adjusted to Book Value, along with its competitors' market caps and ROE % Adjusted to Book Value 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 ROE % Adjusted to Book Value vs REITs Industry

For the REITs industry and Real Estate sector, Spear REIT's ROE % Adjusted to Book Value distribution charts can be found below:

* The bar in red indicates where Spear REIT's ROE % Adjusted to Book Value falls into.

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63GF Score

Spear REIT Ltd JSE:SEA

ROE % Adjusted to Book Value is just one metric. See GF Score™, valuation, warning signs, and more.

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Spear REIT ROE % Adjusted to Book Value Calculation

Spear REIT's ROE % Adjusted to Book Value for the fiscal year that ended in Feb. 2026 is calculated as

ROE % Adjusted to Book Value	=	ROE %	/	PB Ratio
	=	17.23%	/	1.01
	=	17.06%

Spear REIT's ROE % Adjusted to Book Value for the quarter that ended in Feb. 2026 is calculated as

ROE % Adjusted to Book Value	=	ROE %	/	PB Ratio
	=	21.25%	/	1.01
	=	21.04%

Frequently Asked Questions Learn more about ROE % Adjusted to Book Value →

What does a ROE % Adjusted to Book Value of 21.04% mean?

Spear REIT (JSE:SEA) has a ROE % Adjusted to Book Value of 21.04% as of Feb. 2026. Return on equity adjusted to book is the ratio of return on equity to price-book ratio. View historical data on Spear REIT and its competitors.

Is Spear REIT's ROE % Adjusted to Book Value too high?

Spear REIT's current ROE % Adjusted to Book Value is 21.04%. 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 ROE % Adjusted to Book Value compare to VICI and WPC?

Spear REIT's ROE % Adjusted to Book Value of 21.04% can be compared against companies in the REITs industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.

What is a good ROE % Adjusted to Book Value for a REITs company?

A good ROE % Adjusted to Book Value depends on the REITs industry context. However, ROE % Adjusted to Book Value should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.

What does a high ROE % Adjusted to Book Value mean?

A high ROE % Adjusted to Book Value can signal that a stock is expensive relative to its fundamentals. Return on equity adjusted to book is the ratio of return on equity to price-book ratio. View historical data on Spear REIT and its competitors. Spear REIT's current ROE % Adjusted to Book Value is 21.04%. 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 ROE % Adjusted to Book Value is 21.04%. 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 ROE % Adjusted to Book Value calculated?

ROE % Adjusted to Book Value is calculated from a company's financial statements. For Spear REIT (JSE:SEA), the current ROE % Adjusted to Book Value is 21.04% 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:

ROE % Adjusted to Book Value: 21.04%
GF Value™: R7.00 vs. price of R13.26 (89.4% above fair value)
GF Score™: 63/100 with 11 warning signs

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 Estate REITs

Comparable Companies JSE:EMI JSE:HET JSE:BTN JSE:OCT JSE:SAC JSE:OAS JSE:ATT 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 2 Long Street, PO Box 50, 16th Floor, Observatory, 7935, Cape Town, ZAF, 8001

Website https://www.spearprop.co.za

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

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ROE % Adjusted to Book Value is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

R13.26

Price

R7.00

GF Value

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