Narrative Update • Jun 06
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Australian (ASX) Office REITs Industry Analysis
UpdatedJun 12, 2026
DataAggregated Company Financials
Companies6
- 7D7.3%
- 3M-3.0%
- 1Y-14.4%
- YTDn/a
In the last week, the Office REITs industry is up 7.3%, with all of the companies up. In contrast, the industry has lost 14% in the last 12 months. As for the next few years, earnings are expected to grow by 6.3% per annum.
Industry Valuation and Performance
Has the Australian Office REITs Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Sat, 13 Jun 2026 | AU$9.4b | AU$2.2b | AU$797.1m | 11.3x | 11.7x | 4.3x |
| Mon, 11 May 2026 | AU$9.7b | AU$2.2b | AU$785.2m | 11.3x | 12.3x | 4.4x |
| Wed, 08 Apr 2026 | AU$9.4b | AU$2.2b | AU$785.2m | 10.9x | 12x | 4.3x |
| Fri, 06 Mar 2026 | AU$10.2b | AU$2.2b | AU$785.2m | 11.5x | 13x | 4.6x |
| Sun, 01 Feb 2026 | AU$10.6b | AU$2.0b | AU$1.3m | 53x | 8422.2x | 5.3x |
| Tue, 30 Dec 2025 | AU$11.4b | AU$2.0b | AU$1.3m | 56x | 9028.8x | 5.6x |
| Thu, 27 Nov 2025 | AU$11.4b | AU$2.0b | AU$1.3m | 57.1x | 9088.8x | 5.7x |
| Sat, 25 Oct 2025 | AU$11.9b | AU$2.0b | AU$1.3m | 60.3x | 9494.6x | 5.9x |
| Mon, 22 Sep 2025 | AU$11.7b | AU$2.0b | AU$1.3m | 57.6x | 9299.2x | 5.8x |
| Wed, 20 Aug 2025 | AU$11.7b | AU$1.4b | -AU$1,384,910,000.00 | 119.5x | -8.5x | 8.6x |
| Fri, 18 Jul 2025 | AU$10.9b | AU$1.4b | -AU$1,455,691,000.00 | 121.3x | -7.5x | 8x |
| Sun, 15 Jun 2025 | AU$11.0b | AU$1.4b | -AU$1,455,691,000.00 | 123.1x | -7.5x | 8.1x |
| Tue, 13 May 2025 | AU$11.6b | AU$1.4b | -AU$1,455,691,000.00 | 123.1x | -8x | 8.5x |
| Thu, 10 Apr 2025 | AU$10.7b | AU$1.4b | -AU$1,455,691,000.00 | 110.6x | -7.4x | 7.9x |
| Sat, 08 Mar 2025 | AU$11.3b | AU$1.4b | -AU$1,455,691,000.00 | 111.5x | -7.8x | 8.3x |
| Mon, 03 Feb 2025 | AU$11.3b | AU$1.0b | -AU$2,360,952,000.00 | 120.8x | -4.8x | 10.7x |
| Wed, 01 Jan 2025 | AU$10.5b | AU$1.0b | -AU$2,360,952,000.00 | 117.7x | -4.5x | 10x |
| Fri, 29 Nov 2024 | AU$11.2b | AU$1.0b | -AU$2,360,952,000.00 | 120.8x | -4.7x | 10.7x |
| Sun, 27 Oct 2024 | AU$11.4b | AU$1.0b | -AU$2,360,952,000.00 | 132.1x | -4.8x | 10.9x |
| Tue, 24 Sep 2024 | AU$12.1b | AU$1.1b | -AU$2,359,455,000.00 | 128x | -5.1x | 11.5x |
| Thu, 22 Aug 2024 | AU$10.9b | AU$1.1b | -AU$2,716,161,000.00 | 107.4x | -4x | 9.7x |
| Sat, 20 Jul 2024 | AU$10.9b | AU$1.1b | -AU$2,510,572,000.00 | 102.1x | -4.3x | 10.1x |
| Mon, 17 Jun 2024 | AU$10.6b | AU$1.1b | -AU$2,510,572,000.00 | 106.5x | -4.2x | 9.7x |
| Wed, 15 May 2024 | AU$11.1b | AU$1.1b | -AU$2,510,572,000.00 | 108.3x | -4.4x | 10.2x |
| Fri, 12 Apr 2024 | AU$12.0b | AU$1.1b | -AU$2,549,377,000.00 | 105.7x | -4.7x | 10.8x |
| Sun, 10 Mar 2024 | AU$12.1b | AU$1.6b | -AU$2,549,377,000.00 | 107.4x | -4.8x | 7.7x |
| Tue, 06 Feb 2024 | AU$11.9b | AU$1.7b | -AU$1,567,021,000.00 | 284.2x | -7.6x | 7x |
| Thu, 04 Jan 2024 | AU$11.9b | AU$1.7b | -AU$1,567,021,000.00 | 284.2x | -7.6x | 7x |
| Sat, 02 Dec 2023 | AU$11.2b | AU$1.7b | -AU$1,567,021,000.00 | 253.6x | -7.2x | 6.6x |
| Mon, 30 Oct 2023 | AU$10.2b | AU$1.7b | -AU$1,567,021,000.00 | 233.9x | -6.5x | 6x |
| Wed, 27 Sep 2023 | AU$11.3b | AU$1.7b | -AU$1,567,021,000.00 | 231.7x | -7.2x | 6.7x |
| Fri, 25 Aug 2023 | AU$12.4b | AU$1.8b | -AU$1,171,789,000.00 | 670.1x | -10.6x | 6.8x |
| Sun, 23 Jul 2023 | AU$12.1b | AU$2.1b | AU$909.4m | 20.3x | 13.3x | 5.7x |
| Tue, 20 Jun 2023 | AU$12.0b | AU$2.1b | AU$909.4m | 20.2x | 13.2x | 5.6x |
Price to Earnings Ratio
13.2x
Current Industry PE
- Investors are pessimistic on the Australian Office REITs industry, indicating that they anticipate long term growth rates will be lower than they have historically.
- The industry is trading at a PE ratio of 11.7x which is lower than its 3-year average PE of 1kx.
- The 3-year average PS ratio of 7.6x is higher than the industry's current PS ratio of 4.3x.
Past Earnings Growth
- The earnings for companies in the Office REITs industry have declined 4.3% per year over the last three years.
- Meanwhile revenues have remained mostly flat.
- This means that although sales have remained flat, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.
Industry Comparison
How does Australian Office REITs compare with similar industries?
| AU Market | -0.90% | |
| Real Estate | 3.27% | |
| REITS | 7.64% | |
| Office REITs | 7.26% | |
| Diversified REITs | 7.64% | |
| Residential REITs | 6.24% | |
| Specialized REITs | 5.90% | |
| Healthcare REITs | 5.22% | |
| Retail REITs | 4.94% | |
| Hotel and Resort REITs | 0% | 0 |
| Industrial REITs | -0.98% | |
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| DXS DEXUS | AU$5.91 | 7.8% +AU$459.9m | -15.7% | PB0.6x | |
| CMW Cromwell Property Group | AU$0.45 | 5.9% +AU$65.5m | 26.8% | PB0.8x | |
| COF Centuria Office REIT | AU$0.94 | 5.6% +AU$29.9m | -25.2% | PB0.5x | |
| ABG Abacus Group | AU$0.99 | 3.1% +AU$26.8m | -16.4% | PB0.6x | |
| GDI GDI Property Group | AU$0.63 | 1.6% +AU$5.4m | -9.4% | PB12.7x |