Menivim Reit (MNRT) AI Stock Analysis

• Market Cap: ₪2.07B
• Dividend Yield: 5.49%
• Average Volume (3M): 1.65M
• Price to Earnings (P/E): 10.5
• Beta (1Y): 1.33
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: IL
• Employees: 16
• Sector: Real Estate
• Sector Strength: 53
• Industry: REIT - Diversified
• EPS (TTM): 4.20
• Shares Outstanding: 849,677,860
• 10 Day Avg. Volume: 3,570,249
• 30 Day Avg. Volume: 1,652,523
• PEG Ratio: -0.39
• Price to Book (P/B): 1.01
• Price to Sales (P/S): 7.36
• P/FCF Ratio: 9.30
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 82 Outperform
• Price Target: 292.00 ▲(21.72% Upside)

The score is driven primarily by strong financial performance (profitability and improving cash generation) and a constructive technical uptrend. Attractive valuation (low P/E and strong dividend yield) adds support, while the key risk tempering the score is rising leverage on the balance sheet.

Positive Factors

Cash generation

Improving operating and free cash flow that covers net income provides durable internal funding for distributions, maintenance capex, and selective acquisitions. Robust cash generation also creates a buffer for debt service and liquidity needs across market cycles.

Diversified income streams

A mix of long-term lease rental income, development/sales upside and third-party management fees reduces reliance on any single revenue source. This structural diversification supports steadier cash flows and resilience to sector-specific occupancy swings over medium term.

Improving profitability

Revenue growth with a meaningful net income rebound and higher ROE signals operational leverage and improved asset returns. Sustained higher profitability enhances retained earnings capacity to fund maintenance, redevelopment and shareholder distributions over the next several quarters.

Negative Factors

Rising leverage

Meaningful and increasing debt levels reduce financial flexibility and raise interest burden risk if rates climb or cash flow weakens. Higher leverage constrains ability to pursue opportunistic investments and increases vulnerability to downturns in property cash flows.

Earnings volatility

Historical swings in margins and episodic growth indicate earnings are sensitive to timing of disposals, leasing cycles and market conditions. That variability complicates forecasting, dividend planning and raises execution risk for sustained payout targets.

Lean operating team

A very small staff suggests reliance on external partners or concentrated management responsibilities. As the portfolio scales, limited in-house resources could strain asset management, due diligence and development oversight, increasing operational and execution risk.

Menivim Reit Business Overview & Revenue Model

Company Description

Menivim - The New Reit Ltd is headquartered in Tel Aviv, Israel.

How the Company Makes Money

Menivim REIT generates revenue through several key streams, primarily by leasing its properties to tenants and collecting rental income. This rental income forms the backbone of its revenue model, which is bolstered by long-term lease agreements that provide stable cash flow. Additionally, the company may engage in property sales and development projects, realizing capital gains when properties are sold at a profit. Menivim REIT also benefits from strategic partnerships with local and national real estate firms, which can enhance its market reach and operational efficiency. Furthermore, the trust may be involved in property management services for third parties, generating additional fee income that contributes to its overall earnings.

Menivim Reit Financial Statement Overview

Summary

Income statement and cash flow are strong (revenue up +2.68% TTM, net income rebounded, operating cash flow and free cash flow improved), supporting earnings quality. The main offset is balance-sheet risk from meaningful and rising leverage (debt-to-equity ~1.05 TTM; total debt up to ~1.87B), which reduces flexibility.

Income Statement

TTM (Trailing-Twelve-Months) revenue is up (+2.68%) and profitability is very strong, with high gross and net margins versus prior-year levels. Net income improved meaningfully versus 2024 (177.1M vs 123.0M), showing a solid earnings rebound. The main weakness is that growth has moderated versus the faster expansion seen in earlier years, and profitability has shown volatility historically (e.g., very weak net margin in 2020 followed by unusually high margins in 2021–2022).

Balance Sheet

Leverage is meaningful for a REIT: debt-to-equity is ~1.05 in TTM (Trailing-Twelve-Months), up from ~0.99 in 2024, indicating a slightly more leveraged capital structure. Equity and assets have grown over time, supporting scale, and return on equity improved to ~10.2% TTM from ~7.1% in 2024. Key risk is the rising debt load (total debt ~1.87B TTM vs ~1.71B in 2024), which reduces balance-sheet flexibility if operating conditions weaken.

Cash Flow

Cash generation is healthy and improving: operating cash flow rose to 202.2M TTM (Trailing-Twelve-Months) from 187.6M in 2024, and free cash flow also increased (growth +2.428). Cash flow more than covers net income (free cash flow equals net income), supporting earnings quality. A watch item is that cash-flow coverage of net income has fluctuated in prior years (notably weak in 2022), indicating some variability even though the current TTM level is solid (~1.44).

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	254.03M	237.11M	200.59M	166.73M	123.78M	112.00M
Gross Profit	232.73M	218.05M	182.86M	150.84M	112.36M	103.71M
EBITDA	194.65M	161.19M	174.95M	160.64M	173.66M	15.46M
Net Income	177.06M	123.00M	148.00M	143.98M	158.76M	2.28M
Balance Sheet
Total Assets	3.73B	3.49B	3.17B	2.87B	2.39B	2.00B
Cash, Cash Equivalents and Short-Term Investments	150.27M	135.03M	196.70M	172.05M	298.39M	155.79M
Total Debt	1.87B	1.71B	1.57B	1.33B	1.06B	771.28M
Total Liabilities	1.95B	1.76B	1.59B	1.35B	1.07B	785.49M
Stockholders Equity	1.78B	1.73B	1.58B	1.52B	1.32B	1.22B
Cash Flow
Free Cash Flow	202.17M	187.63M	162.43M	124.29M	93.91M	87.72M
Operating Cash Flow	202.17M	187.63M	162.43M	124.29M	93.91M	87.72M
Investing Cash Flow	-238.97M	-318.84M	-214.76M	-503.27M	-147.34M	-920.47M
Financing Cash Flow	-92.18M	69.55M	76.97M	252.64M	196.03M	680.20M

Menivim Reit Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 239.90
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IL:MNRT, the sentiment is Positive. The current price of 239.9 is below the 20-day moving average (MA) of 243.17, above the 50-day MA of 239.14, and above the 200-day MA of 215.97, indicating a bullish trend. The MACD of 0.88 indicates Negative momentum. The RSI at 61.52 is Neutral, neither overbought nor oversold. The STOCH value of 77.22 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IL:MNRT.

Menivim Reit Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
MNRT	82 Outperform	₪2.07B	10.48	―	5.49%	―	―
SLARL	81 Outperform	₪2.71B	8.54	―	4.84%	―	―
KSTN	70 Outperform	₪2.43B	4.07	―	4.46%	-8.03%	135.97%
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
ILDC	64 Neutral	₪1.50B	11.35	―	3.87%	-5.51%	35.48%
AZRT	51 Neutral	₪578.43M	-10.84	―	―	-12.91%	-44.25%