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General information

Sector: Financials

The company is not available at Interactive Brokers

Delta Property Fund Limited (JSE:DLT) is the dominant sovereign listed property fund in South Africa. The Fund is represented in all 9 of South Africa’s provinces with assets spread across office, retail and industrial sectors.

Delta is a level 2 B-BBEE contributor and the fact that it is black managed means Delta qualifies for long-term government leases in terms of the National Department of Public Works incubator programme. This translates into Delta being able to offer investors secured income through access to quality assets with low vacancies and strong anchor tenants.

At listing in November 2012, Delta had a total of 20 well established mainly AAA to B grade high-quality office buildings located across the country. Now with more than 100 properties in the Fund, Delta intends to continue focusing on strengthening the quality of its property portfolio, through acquisitions as well as refurbishments and upgrades to enhance their position as the preferred landlord for government and SARS.



  • Good financial results growth rate 89.2% (average between last period year over year growth for revenue and Net Income), there is acceleration compared to average historical growth rates (0.1%)
  • Dividend yield for the last twelve months 0.0%
  • Share price is 77.8% higher than minimum and 78.4% lower than maximum for the last 3 years
  • The company is undervalued by P/E LTM multiple compared to target level (-0.3x vs
    )

Key Financials

Share price, ZAR:  (0.0%)0.1600
Share price, USD: 0.008596
Common stocks: 714 250 000

Dividend Yield:  0.0%
P/E LTM: -0.3x
Last revenue growth (y/y):  -21.5%
Last growth of Net Income (y/y):  +200.0%
Historical revenue growth:  -10.6%
Historical growth of Net Income:  +28.6%
Target P/E (hist percentile):
P/E mutiple calculation
Market Cap ($m): 6
Net Profit ($m): -21
P/E LTM: -0.3x
Price to Book: 0.04x

Revenue and Net Income

Semi-Annual values ($m)

Change (y/y)

Share price and dividends (Download history)

Share price

Payment ZAR per share

Multiple and potential

P / E

Potential dynamics

More information for subscribed users:
detailed calculation of
Potential and Created Value,
website traffic data

Releases

2022-08-11
Change to the function of director
2022-08-05
Disposal of Fort Drury, Katleho, Cna building and WB Centre properties
2022-07-28
Update regarding the disposal of 3 Simba and 5 Simba properties
2022-07-04
Disposal of 3 Simba, 5 Simba and Cape Road properties and cancellation of sale of Fort Drury and Sediba properties
2022-06-30
Availability of Delta’s integrated annual report, no change statement and details of annual general meeting
2022-05-24
Audited condensed consolidated results for the year ended 28 February 2022
2022-05-23
Change in auditors
2022-05-19
Annual results release date and webcast presentation
2022-03-31
Appointment of company secretary
2022-02-28
Voluntary pre-close operational update
2022-02-18
Dealing in securities by an associate of director
2022-02-11
Resignation of company secretary
2021-11-10
Change to the board of directors
2021-11-08
Reviewed condensed consolidated interim results for the six months ended 31 August 2021
2021-11-08
Proposed disposal of Fort Drury and Sediba properties
2021-10-29
Interim results release date and webcast presentation
2021-10-26
Proposed disposal of Delta House property
2021-10-15
Annual B-BBEE compliance report
2021-09-23
Appointment of company secretary
2021-08-26
Results of Annual General Meeting

SENS Announcements

2024-04-11
Appointment of an Independent Non – Executive Director
2024-02-23
Change to the board of directors
2024-02-19
Voluntary announcement: Response to the public censure and fine imposed by the JSE Limited
2024-02-16
Censure imposed by the JSE on Delta Property Fund Limited
2024-01-17
Dealing in securities by an associate of directors
2023-12-06
Director appointment to risk and compliance committee
2023-11-30
Dealing in securities by an associate of directors
2023-11-29
Proposed disposal of Smartxchange
2023-11-28
Unaudited condensed consolidated interim results for the period ended 31 August 2023
2023-11-23
Proposed disposal of Cape Road
2023-11-16
Change to date of release of interim financial results for the period ended 31 August 2023 (“Interim Results”)
2023-10-17
Change to the board of directors
2023-10-06
Supplementary announcement: Disposal of property
2023-10-05
Appointment of permanent Chief Executive Officer (“CEO”)
2023-09-29
Proposed disposal of Sediba, Fountain & VLU building towers and update on successful transfer of Nedbank building
2023-09-07
Voluntary operational update
2023-09-01
Results of annual general meeting
2023-08-30
Internalisation of the asset management function
2023-08-15
Appointment of company secretary
2023-07-28
Capital Towers Disposal and DFMT Four Property Disposal update
2023-07-27
Change to the board of directors
2023-07-12
Appointment of executive director and chief financial officer
2023-06-30
Availability of Delta’s integrated annual report and notice of annual general meeting
2023-06-29
Changes to board committees
2023-06-13
Resignation of company secretary
2023-06-13
Short-form announcement: Audited condensed consolidated results for the year ended 28 February 2023
2023-05-31
Delay in release of results for the year ended 28 February 2023
2023-05-30
Proposed disposal of 5 Walnut road and extension for DMFT disposal circular
2023-05-29
Change to the board of directors
2023-05-26
Annual financial results and webcast presentation release dates
2023-05-24
Trading statement
2023-05-22
Change to the board of directors
2023-05-03
Resignation of CFO and a change to the board of directors
2023-04-13
Disposals of properties
2023-03-31
Results of general meeting – Capital Towers Disposal
2023-03-01
Distribution of circular and notice of general meeting
2023-02-23
Cancellation of proposed disposal of Cape Road Property
2023-02-13
Disclosure of beneficial interest in securities
2023-01-17
Cancellation of proposed disposal of Beaconsfield property
2022-12-23
Dealing in securities by a director
2022-12-15
Changes to the board committees
2022-12-15
Appointment of company secretary
2022-12-13
Proposed disposal of Beaconsfield and extension to posting of circular
2022-12-09
Adjustments to the cash flow statement for the interim period ended 31 August 2022
2022-12-02
Change to the board of directors
2022-12-01
Proposed disposal of Capital Towers
2022-12-01
Annual B-BBEE compliance report
2022-11-15
Dealing in securities by a director
2022-11-15
Proposed disposal of Standard Bank Greyville
2022-11-07
Unaudited condensed consolidated interim results for the period ended 31 August 2022
2022-11-04
Interim results webcast presentation release date
2022-10-19
Proposed disposal of Enterprise Park property
2022-08-31
Voluntary pre-close operational update
2022-08-30
Results of annual general meeting
2022-08-18
Changes to the board and board committees
2022-08-11
Change to the function of director
2022-08-05
Disposal of Fort Drury, Katleho, Cna building and WB Centre properties
2022-07-28
Update regarding the disposal of 3 Simba and 5 Simba properties
2022-07-04
Disposal of 3 Simba, 5 Simba and Cape Road properties and cancellation of sale of Fort Drury and Sediba properties
2022-06-30
Availability of Delta’s integrated annual report, no change statement and details of annual general meeting
2022-05-24
Audited condensed consolidated results for the year ended 28 February 2022
2022-05-23
Change in auditors
2022-05-19
Annual results release date and webcast presentation