South African (JSE) REITS Industry Analysis
UpdatedMay 04, 2024
DataAggregated Company Financials
Companies12
- 7D2.6%
- 3M-4.6%
- 1Y-1.0%
- YTD-0.4%
The REITS industry is up 2.6% in the last week, with Redefine Properties up 5.7%. Overall in the last year, the industry is flat.
Industry Valuation and Performance
Has the South African REITS Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Sat, 04 May 2024 | R103.9b | R38.8b | R7.7b | 8.7x | 13.5x | 2.7x |
| Mon, 01 Apr 2024 | R104.7b | R38.8b | R7.5b | 9.3x | 13.9x | 2.7x |
| Wed, 28 Feb 2024 | R106.4b | R38.0b | R8.6b | 9.3x | 12.3x | 2.8x |
| Fri, 26 Jan 2024 | R135.2b | R43.5b | R9.8b | 10.1x | 13.7x | 3.1x |
| Sun, 24 Dec 2023 | R133.0b | R43.5b | R9.8b | 9.1x | 13.5x | 3.1x |
| Tue, 21 Nov 2023 | R125.8b | R43.2b | R10.9b | 8.7x | 11.6x | 2.9x |
| Thu, 19 Oct 2023 | R121.4b | R42.8b | R17.1b | 10x | 7.1x | 2.8x |
| Sat, 16 Sep 2023 | R127.1b | R42.1b | R17.0b | 9.1x | 7.5x | 3x |
| Mon, 14 Aug 2023 | R135.0b | R41.9b | R20.8b | 9x | 6.5x | 3.2x |
| Wed, 12 Jul 2023 | R127.6b | R41.9b | R20.8b | 8.8x | 6.1x | 3x |
| Fri, 09 Jun 2023 | R131.2b | R41.8b | R20.9b | 8.8x | 6.3x | 3.1x |
| Sun, 07 May 2023 | R135.5b | R40.5b | R23.7b | 7.7x | 5.7x | 3.3x |
| Tue, 04 Apr 2023 | R154.2b | R43.7b | R26.9b | 8.6x | 5.7x | 3.5x |
| Thu, 02 Mar 2023 | R230.7b | R65.0b | R29.7b | 6x | 7.8x | 3.6x |
| Sat, 28 Jan 2023 | R235.0b | R64.8b | R29.3b | 6x | 8x | 3.6x |
| Mon, 26 Dec 2022 | R241.1b | R64.8b | R29.2b | 6.2x | 8.3x | 3.7x |
| Wed, 23 Nov 2022 | R241.0b | R63.9b | R29.6b | 7.4x | 8.1x | 3.8x |
| Fri, 21 Oct 2022 | R232.3b | R63.4b | R23.3b | 7.8x | 10x | 3.7x |
| Sun, 18 Sep 2022 | R235.7b | R62.9b | R22.3b | 7.2x | 10.6x | 3.7x |
| Tue, 16 Aug 2022 | R246.4b | R61.0b | R21.2b | 7.7x | 11.6x | 4x |
| Thu, 14 Jul 2022 | R229.9b | R60.9b | R21.2b | 7x | 10.8x | 3.8x |
| Sat, 11 Jun 2022 | R233.6b | R56.1b | R19.5b | 7.4x | 12x | 4.2x |
| Mon, 09 May 2022 | R241.3b | R58.4b | R16.9b | 8x | 14.3x | 4.1x |
| Wed, 06 Apr 2022 | R255.1b | R58.1b | R15.8b | 8.2x | 16.2x | 4.4x |
| Fri, 04 Mar 2022 | R257.8b | R58.7b | R14.9b | 9.4x | 17.3x | 4.4x |
| Sun, 30 Jan 2022 | R247.0b | R60.1b | R14.3b | 9.4x | 17.2x | 4.1x |
| Tue, 28 Dec 2021 | R245.4b | R58.1b | R14.2b | 9.4x | 17.3x | 4.2x |
| Thu, 25 Nov 2021 | R235.0b | R57.5b | R11.9b | 9.4x | 19.8x | 4.1x |
| Sat, 23 Oct 2021 | R227.6b | R57.1b | -R2,961,417,546.00 | 9.9x | -76.8x | 4x |
| Mon, 20 Sep 2021 | R231.9b | R57.0b | -R6,330,542,453.00 | 16.8x | -36.6x | 4.1x |
| Wed, 18 Aug 2021 | R230.1b | R56.8b | -R24,384,644,702.47 | 15.1x | -9.4x | 4.1x |
| Wed, 02 Jun 2021 | R217.8b | R56.2b | -R34,336,861,702.47 | 13.8x | -6.3x | 3.9x |
Price to Earnings Ratio
-6.3x
Current Industry PE
- Investors are optimistic on the South African REITs industry, and appear confident in long term growth rates.
- The industry is trading at a PE ratio of 13.5x which is higher than its 3-year average PE of 3.8x.
- The 3-year average PS ratio of 3.6x is higher than the industry's current PS ratio of 2.7x.
Past Earnings Growth
- Total earnings for the REITs industry have gone up over the last three years and the industry is now profitable.
- Revenues have declined 12% per year.
- This means that less sales are being generated overall, but since the cost of doing business is lower, profits have been increasing.
Industry Trends
Which industries have driven the changes within the South African Real Estate industry?
| ZA Market | 1.90% | |
| Real Estate | 1.32% | |
| REITS | 2.59% | |
| Hotel and Resort REITs | 20.00% | |
| Retail REITs | 2.90% | |
| Diversified REITs | 2.59% | |
| Industrial REITs | 1.35% | |
| Residential REITs | 0% | |
| Specialized REITs | 0% | |
| Healthcare REITs | 0% | |
| Office REITs | -5.61% | |
Industry PE
- Investors are most optimistic about the Diversified REITs industry which is trading above its 3-year average PE ratio of 5.9x.
- It looks like they are confident that earnings will grow faster in the future than they have historically.
Forecasted GrowthThere is insufficient data on the sub-industries of this industry.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| RDF Redefine Properties | R4.07 | 5.7% +R1.5b | 6.8% | PB0.5x | |
| GRT Growthpoint Properties | R10.99 | 3.2% +R1.2b | -11.7% | PB0.5x | |
| SAC SA Real Estate | R2.60 | 2.8% +R174.2m | 39.8% | PB0.6x | |
| OCT Octodec Investments | R9.86 | 2.7% +R69.2m | 0.1% | PB0.4x | |
| SEA Spear Reit | R7.77 | 0.8% +R13.4m | 7.9% | PB0.7x |