SICO Saudi REIT sinks to all-time closing low

05/11/2023 Argaam Exclusive

Units of SICO Saudi REIT Fund shed 1% to close at an all-time low of SAR 4.46 on the Saudi Exchange (Tadawul) after around 108,400 units changed hands today, Nov. 5.

The fund is trading 1% lower, with nearly 90,000 units traded so far.

 

Accordingly, the fund lost around 30% in a year and 20% year-to-date.

Unit performance

Open 4.18
Low 4.15
High 4.18
Previous Close 4.18
Change (3M) (0.71 %)
Change (6M) (8.93 %)
Market Value 238.12
Avg. Volume (3M) 136,026.89
Avg. Turnover (3M) 566,848.83
Avg. Transaction (3M) 318.82
Change(12M) (6.28 %)
YTD (8.13 %)

The fund has not witnessed any change to its capital since debut.

Adjustments to the capital (M Riyal) :

Date Type Capital (M Riyal) Change (%)
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...


Financial Ratios :

Financial Ratio Current
Number of Units (Million) 57.24
Net Income/Unit ( Riyal) (1.85 )
Funds from operations/Unit ( Riyal) 0.06
Adjusted P/E (Last12) (X) Neg
Current Price/FFO (X) 75.96
Dividend Yield (%) (Last Year) 0.00
Price/book 0.94
Asset Growth (%) (19.57 )
Revenue Growth (%) (21.45 )
Net Income Growth (%) 31.01
Par Value ( Riyal) 10.00


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