Fortress reports strong earnings growth, positive outlook for 2026

Fortress Real Estate Investments reported a 9.4% increase in distributable earnings for FY2025, reaching R1 956,2 million, up from R1 788,5 million in FY2024. This translated to 162,44 cents per share in distributable earnings, with the company also declaring a final dividend of 86,29 cents per share for 2H2025, in addition to the 1H2025 interim after-tax cash dividend of 76,15 cents per share.

Looking ahead to FY2026, Fortress forecasts distributable earnings growth of between 6.0% and 7.5%, with an anticipated range of R2 073 million to R2 103 million. The company highlights strong like-for-like NOI growth of 9.4% in its retail portfolio, significantly exceeding the 3.0% inflation rate, and notes that its direct valuations increased by 6.5% from FY2024 on a like-for-like basis.

Total revenue, including revenue from investments, surged by 37.2% to R6 015 606 in FY2025. The net asset value (NAV) increased to R30 430 774, while the NAV per share grew by 0.7% to R25,27. The loan-to-value (LTV) ratio stood at 39.1%.