One of the country’s listed real estate investment trusts, SFS Real Estate Investment Trust, reported that its Net Asset Value (“NAV”) per share has reduced to N312.17 in the first nine months of 2026, representing a 3.40 percent reduction from 2025’s N323.11.
The Net Asset Value (NAV) per share for a Real Estate Investment Trust (REIT) measures the true market value of the company’s underlying real estate and other assets, minus all debts and liabilities, divided by the total number of shares outstanding.
“SFS REIT saw its net income increase by 37.29 percent to N347.18 million in September 2026 from N252.87 million as at September 2025.
Earnings per share (EPS) increased to N17.36 in September 2026, which represents a 37.30 percent increase from 2025’s N12.64.
The company’s total income rose by 49.69 percent to N467.30 million, supported by strong rental collections across a portfolio concentrated in prime urban locations.
Of course, the value of properties in Lagos have been rising and the easing policy recently adopted by central bank which is expected to reduce interest rates will add strength to the earnings of real estate firms.
Nigeria’s inflation rate fell more than expected in September as headline inflation slowed to 14.63 percent from 15.39 percent in August, according to a recent data by the National Bureau of Statistics (NBS). That is 6.35 percentage points below the 20.98% recorded a year earlier.
The yield on Nigeria 10 year bond yield held steady at 16.43 percent on October 14, 2026. Over the past month, the yield has fallen by 0.32 points, though it remains 0.85 points higher than a year ago, according to over-the-counter interbank yield quotes for this government bond maturity.
The Apex Bank has cut its benchmark interest rate (Monetary Policy Rate or MPR) by 350 basis points, lowering it from 26.5 percent to 23 percent.
SFS REIT investment property fell by 6.20 percent to N5.17 billion in the period under review from N5.51 billion the previous year.
A consistent dividend payment reinforces the trust’s positioning as a high-yield instrument in a yield-constrained environment.
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