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The Screen · Real Estate · REIT - Diversified
Musharaka REIT Fund
4335.SR · SAU · USD · Market cap $332M
Musharaka REIT Fund is headquartered in Al Khobar, Saudi Arabia , and invests in real estate assets primarily in the major Saudi cities, with a mandate to invest up to 25% of the fund outside Saudi borders.
FAIL · Does not pass the screen
3.18 USD
Screen close, 2026-09-21 · not a live quote Last reviewed 15 days ago
Screened 2026-09-21 · the tape above runs as of 09:09 UTC · two dates, stated on purpose · verdict and workings shown in full · never trimmed
PRICE · FAIR-VALUE RANGE1M3M6MYTD1Y3Y5Y
What this means: price 3.18 against the desk's fair-value range, over the last year.
Positioning no disclosures inside 60 days, left as found
Options no verdict drawn today, left as found
Ethical does not pass the values gate
Price3.18 USD
Our investment reviews on this name
2026-10-02Read Distribution3.18+0.0% to today
2026-09-18Read Accumulation3.77-15.6% to today
2026-08-19Read Distribution3.77-15.6% to today ✓
2026-07-02Read Markdown3.99-20.3% to today ✓
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
Musharaka REIT Fund holds its Distribution at $3.18. The statistical read favours the sellers, held for 2 days.
As held on the ledger · 2026-09-21
Phase
Distribution · caution
Quantitative state
The statistical read favours the sellers, held for 2 days
Price at the screen
$3.18
Valuation
N/A trailing · N/A forward price to earnings
Values screen
FAIL
Beta
0.11
The Workings
Five Screens, Shown in Full
Does not pass. Debt ratio
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
54.49%
Below 33%
Interest-bearing debt is 54.5% of its assets, above the one-third ceiling the screen allows.
Fail
Interest-bearing cash
0.00%
Below 33%
Cash held in interest-bearing accounts and securities is 0.0% of assets, under the one-third limit.
Pass
Receivables
5.78%
Below 49%
Money owed to the company is 5.8% of assets, under the 49% limit.
Pass
Revenue purity
13.68%
Below 5%
13.7% of revenue comes from non-compliant sources, over the 5% line.
Fail
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Falls Short, in Plain English
Musharaka REIT Fund's business is in a permissible area, but its interest-bearing debt is about 54% of the company, well over the ~33% line, so it does not pass on the financial screens.
Read as at 2026-10-04. It updates when the underlying figures move, and past reads are kept below.
The risks · The things to watch: it's a small-cap, so the share price can swing harder than the market; its business and earnings are exposed to Saudi Arabia and to currency swings.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
4335.SR trades on SAU (the company is based in Saudi Arabia). As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The framework has shifted from accumulation to distribution since the last review. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 15.6% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is momentum reading oversold. Over the past year the shares are down 2%. Our forward projection puts the odds of a 10% gain over the next month near 3%.
2026-09-18Accumulation · changed$3.77+0.0%Entry 7
The framework has shifted from distribution to accumulation since the last review. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is momentum reading oversold. Over the past year the shares are down 2%. Our forward projection puts the odds of a 10% gain over the next month near 3%.
2026-08-19Distribution · changed$3.77+0.0%Entry 6
The framework has shifted from markdown to distribution since the last review. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is momentum reading oversold. Over the past year the shares are down 2%. Our forward projection puts the odds of a 10% gain over the next month near 3%.
2026-07-19Markdown$3.77-5.5%Entry 5
The framework reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 5.5% since our last review. Ethical screening: PASS with ethical screening pending. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is momentum reading oversold. Over the past year the shares are down 2%. Our forward projection puts the odds of a 10% gain over the next month near 3%.
2026-07-18Markdown$3.99+0.0%Entry 4
The framework reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: PASS with ethical screening pending. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is momentum reading oversold. Over the past year the shares are down 2%. Our forward projection puts the odds of a 10% gain over the next month near 3%.
2026-07-15Markdown$3.99+0.0%Entry 3
The framework reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: PASS with ethical screening pending. The risk-adjusted return profile shows negative risk-adjusted returns.
2026-07-03Markdown$3.99+0.0%Entry 2
The framework reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: PASS with ethical screening pending. The risk-adjusted return profile shows negative risk-adjusted returns.
2026-07-02Markdown$3.99Entry 1
The framework reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Ethical screening: PASS with ethical screening pending. The risk-adjusted return profile shows negative risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.