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SICO Saudi REIT closes at all-time low
12/08/2024
Argaam Exclusive
AI Summary
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Units of SICO Saudi REIT Fund edged 1% lower today, Aug. 12, recording the highest closed since the debut on the Saudi Exchange (Tadawul) at SAR 4.14 apiece.
| Year High (SAR) | Year Low (SAR) |
| 5.57 | 4.03 |
| Highest Since Debut (SAR) | Lowest Since Debut (SAR) |
| 12.90 | 4.03 |
It hit an intraday low of SAR 4.03 per unit.
Unit performance
| Open | 4.14 |
| Low | 4.05 |
| High | 4.18 |
| Previous Close | 4.15 |
| Change (3M) | (21.43 %) |
| Change (6M) | (22.33 %) |
| Market Value | 232.97 |
| Avg. Volume (3M) | 42,944.28 |
| Avg. Turnover (3M) | 199,614.34 |
| Avg. Transaction (3M) | 170.54 |
| Change(12M) | (2.63 %) |
| YTD | 0.74 % |
Accordingly, the fund’s year-to-date (YTD) losses reached over 10%.
SICO Saudi REIT has not made any changes to its capital since listing in 2018.
The fund reported a rise in losses to SAR 102.1 million in H1 2024, up from SAR 48.2 million in H1 2023.
Adjustments to the capital (M Riyal) :
| Date | Type | Capital (M Riyal) | Change (%) |
| 2026 | Private Offering | - | - |
| 2022 | Private Offering Cancelled | - | - |
| 2017 | IPO | 572.40 | - |
Financial Performance :
Overview :
SICO Saudi REIT Fund was established in 2017 under the name "Al Masha'ar REIT Fund", as a Shariah-compliant closed-end real estate investment trust (REIT), with a capital of SAR 572.4 million, and was publicly listed on the Saudi Exchange in January 2018, with an initial real estate portfolio comprising 3 properties. SICO Capital serves as the fund manager.
The fund aims to invest at least 75% of its total assets in a variety of income-generating real estate properties within th...
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Financial Ratios :
| Financial Ratio | Current |
| Number of Units (Million) | 57.24 |
| Net Income/Unit ( Riyal) | (0.26 ) |
| Funds from operations/Unit ( Riyal) | 0.13 |
| Dividend Yield (%) (Last Year) | |
| Price/book | 1.04 |
| Asset Growth (%) | (5.80 ) |
| Revenue Growth (%) | 29.80 |
| Net Income Growth (%) | (20.46 ) |
| Par Value ( Riyal) | 10.00 |
Calendar :
-
26 June
General Assembly
- -
07 April
Ex-dividend Date
- -
19 August
Ex-dividend Date
-
Call Request
Comments Analysis: