NREIT profit jumps 328.17% to N6.05 billion, declares N1.72/unit distribution

Nigeria Real Estate Investment Trust (NREIT) witnessed a staggering 328.17% surge in pre-tax profit to N6.05 billion in the first six months of 2026, marking a significant rise from N1.41 billion in H1 2025. The financial report, published on the Nigerian Exchange (NGX) on September 4, 2026, revealed that post-tax profit also jumped by 328.17% to N6.05 billion, up from N1.41 billion in the same period last year.

NREIT announced a distribution of N1.72 per unit to unitholders, payable on September 8, 2026, after deducting applicable withholding tax. The earnings growth was fueled by a substantial increase in total income, soaring to N7.97 billion from N1.74 billion in H1 2025. However, operating expenses escalated by 481.87% YoY, reaching N1.92 billion from N329.81 million.

Consequently, operating expenses constituted 24.1% of total income in H1 2026, up from 18.9% in the previous year. Despite the higher cost base, NREIT managed to generate a pre-tax profit of N6.05 billion, representing 75.9% of total income, a notable improvement from 81.1% in H1 2025. Additionally, NREIT encountered an FX loss of N140.20 million, compared to a N22.25 million loss in H1 2025, resulting in total comprehensive income of N5.91 billion, up from N1.39 billion in the prior period.

On the balance sheet, investment property remained stable at N187.43 billion between December 2025 and June 2026. Nevertheless, other receivables surged to N16.31 billion from N5.75 billion, while cash and cash equivalents increased to N12.09 billion from N3.83 billion. This led to a slight decrease in net asset value per unit to N114.58 from N115.16 at the end of December 2025.

NREIT's stock closed at N113.00 per share on September 4, 2026, up from its opening price of N103.00 for the year, reflecting a year-to-date return of 9.71%. NREIT was listed on December 31, 2025, and is currently the 48th most valuable stock on the NGX with a market capitalization of N187 billion.