ENBD REIT (CEIC) PLC (“ENBD REIT”),the Shari'a compliant real estate investment trust managed by Emirates NBD Asset Management Limited, announces its financial results for the third quarter ended 31 December 2024. ENBD REIT's Net Asset Value (“NAV”) stood at USD 216 million or USD 0.86 per share, compared to USD 202 million for the previous quarter and USD 191 million the previous year, a respective 6.9% Quarter-on-Quarter (Q-o-Q) and 13.1% Year-on-Year (Y-o-Y) increase. The financial performance continues to improve, driven by strategic leasing, prudent cost management and ecient operating processes. Notably, the office portfolio has shown strong momentum, benefiting from robust tenant demand. The reduction in financing cost has also supported performance this past quarter. The ongoing efforts to enhance asset performance and optimize the portfolio have driven a significant improvement in Funds From Operations (FFO), reinforcing its ability to sustain income growth. FFO surged 51% Y-o-Y to USD 8.4 million, supporting sustainable dividend payout expectation.
Metrics to compare | ENBDREIT | Sector Sector - Average of metrics from a broad group of related Real Estate sector companies | Relationship RelationshipENBDREITPeersSector | |
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P/E Ratio | 4.1x | −5.1x | 9.1x | |
PEG Ratio | 0.07 | −0.05 | 0.01 | |
Price/Book | 0.6x | 1.0x | 0.9x | |
Price / LTM Sales | 3.7x | 4.8x | 3.9x | |
Upside (Analyst Target) | - | 19.9% | 12.6% | |
Fair Value Upside | Unlock | −2.0% | 0.1% | Unlock |