Where can I find the quarterly financial reports on a property?
The quarterly financial reports are published in the EasyProperties platform under the ‘Property Documents’ section.
When do quarterly financial reports start on a property?
These reports will only be published the quarter after a property has been transferred.
What is a Fair Value adjustment?
The Fair value adjustment represents the difference in the purchase price of our properties and the independent valuation of the market value of these properties. (The valuations are available of the platform under the ‘Property Documents’ section.) We also capitalize the costs directly attributable to bringing the property into our ownership.
Example
The properties at 7 on Middle were originally purchased at R8 659 340 and then independently valued at R9 950 000. The difference between the purchase price and the valuation is R1 290 660. We reduce this by the costs directly attributable to bringing the investment property into our ownership, which accounts for the difference between R1, 290m and the R1.091m on the quarterly report.
What does EBITDA mean?
EBITDA stands for Earnings before Interest, Taxes, Depreciation and Amortisation. Basically the income based on the operations of the property asset.
Does a Fair Value Adjustment (FVA) form part of the calculation to determine a dividend payout?
No it doesn’t form part of the calculations for dividends, the FVA is removed when calculating dividends . This amount will only be realised when we sell the property and will be based on the final selling prices of the units.
What is EBITDA per share?
EBITDA divided by the number of shares that were issued. What is NAV per share? Net Asset value (assets less liabilities) divided by the number of shares that were issued.
For a more detailed explanation, watch our Education webinar on the Quarterly report here.