Residential real-estate investmen trust (REIT)
Abo Megurim enters 2026 with a larger portfolio and a real NOI base, but to justify its expansion pace it now has to show that AFFO and cash are growing faster than debt, dilution and valuation gains.
Abo Megurim’s 2025 earnings quality rests on a stronger NOI base, but net profit is still heavily shaped by revaluation gains and AFFO looks more forgiving mainly because management treats indexed debt principal differently from the ISA FFO framework.
Abo Megurim enters 2026 with an active transaction pipeline, but its immediate value test is financing: refinancing Rehovot, closing Bnei Brak, absorbing the January equity move, and managing the dividend in the same time window.
