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Australian (ASX) Office REITs Industry Analysis

UpdatedJul 28, 2026
DataAggregated Company Financials
Companies6
  • 7D-0.7%
  • 3M-4.5%
  • 1Y-16.1%
  • YTDn/a

Over the last 7 days, the Office REITs industry has dropped 1.8%, driven by a pullback from DEXUS of 2.1%. The industry has fallen 16% in the last year. Looking forward, earnings are forecast to grow by 8.4% annually.

Industry Valuation and Performance

Has the Australian Office REITs Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 28 Jul 2026AU$9.2bAU$2.2bAU$797.1m11x11.5x4.2x
Thu, 25 Jun 2026AU$9.2bAU$2.2bAU$797.1m11.4x11.6x4.2x
Sat, 23 May 2026AU$9.6bAU$2.2bAU$785.2m11.3x12.2x4.4x
Mon, 20 Apr 2026AU$9.6bAU$2.2bAU$785.2m11.1x12.3x4.4x
Wed, 18 Mar 2026AU$9.7bAU$2.2bAU$785.2m11.7x12.4x4.4x
Fri, 13 Feb 2026AU$10.2bAU$2.0bAU$84.0m43.7x121x5x
Sun, 11 Jan 2026AU$11.0bAU$2.0bAU$1.3m54.8x8764.7x5.5x
Tue, 09 Dec 2025AU$11.3bAU$2.0bAU$1.3m55.9x8970.7x5.6x
Thu, 06 Nov 2025AU$11.3bAU$2.0bAU$1.3m56.2x8991.6x5.6x
Sat, 04 Oct 2025AU$11.6bAU$2.0bAU$1.3m57.1x9196.5x5.7x
Mon, 01 Sep 2025AU$11.8bAU$2.0bAU$1.3m59.2x9368.2x5.8x
Wed, 30 Jul 2025AU$11.0bAU$1.4b-AU$1,455,691,000.00119.5x-7.6x8.1x
Fri, 27 Jun 2025AU$10.7bAU$1.4b-AU$1,455,691,000.00121.3x-7.3x7.9x
Sun, 25 May 2025AU$11.0bAU$1.4b-AU$1,455,691,000.00124x-7.6x8.1x
Tue, 22 Apr 2025AU$11.1bAU$1.4b-AU$1,455,691,000.00112.4x-7.6x8.2x
Thu, 20 Mar 2025AU$11.1bAU$1.4b-AU$1,455,691,000.00112.4x-7.6x8.1x
Sat, 15 Feb 2025AU$12.0bAU$1.0b-AU$2,282,768,000.00126.9x-5.3x11.5x
Mon, 13 Jan 2025AU$10.6bAU$1.0b-AU$2,360,952,000.00115.7x-4.5x10.1x
Wed, 11 Dec 2024AU$10.6bAU$1.0b-AU$2,360,952,000.00118.7x-4.5x10.1x
Fri, 08 Nov 2024AU$11.0bAU$1.0b-AU$2,360,952,000.00124.9x-4.6x10.4x
Sun, 06 Oct 2024AU$12.2bAU$1.0b-AU$2,360,952,000.00135.1x-5.2x11.6x
Tue, 03 Sep 2024AU$11.4bAU$1.1b-AU$2,359,455,000.00141.3x-4.8x10.8x
Thu, 01 Aug 2024AU$11.1bAU$1.1b-AU$2,510,572,000.00106.5x-4.4x10.2x
Sat, 29 Jun 2024AU$10.4bAU$1.1b-AU$2,510,572,000.0098.6x-4.1x9.6x
Mon, 27 May 2024AU$11.1bAU$1.1b-AU$2,510,572,000.00106.5x-4.4x10.2x
Wed, 24 Apr 2024AU$11.6bAU$1.1b-AU$2,549,377,000.00106.5x-4.5x10.4x
Fri, 22 Mar 2024AU$12.3bAU$1.6b-AU$2,549,377,000.00105.7x-4.8x7.7x
Sun, 18 Feb 2024AU$12.2bAU$1.6b-AU$2,303,217,000.00282x-5.3x7.6x
Tue, 16 Jan 2024AU$12.0bAU$1.7b-AU$1,567,021,000.00282x-7.7x7.1x
Thu, 14 Dec 2023AU$11.9bAU$1.7b-AU$1,567,021,000.00262.3x-7.6x7x
Sat, 11 Nov 2023AU$11.1bAU$1.7b-AU$1,567,021,000.00240.4x-7.1x6.5x
Mon, 09 Oct 2023AU$11.4bAU$1.7b-AU$1,567,021,000.00227.3x-7.3x6.7x
Wed, 06 Sep 2023AU$12.3bAU$1.7b-AU$1,567,021,000.00279.8x-7.9x7.3x
Fri, 04 Aug 2023AU$13.2bAU$2.5bAU$1.1b20x11.8x5.4x
Price to Earnings Ratio

11.8x


Total Market Cap: AU$13.2bTotal Earnings: AU$1.1bTotal Revenue: AU$2.5bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Office REITs Industry Price to Earnings3Y Average 1317.6x202420252026
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 11.3x 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 4.1x.
Past Earnings Growth
  • Both revenue and earnings for companies in the Office REITs industry have remained mostly flat over the last three years.
  • This means that sales and the cost of doing business have remained relatively consistent over this period and subsequently, so have profits.

Industry Comparison

How does Australian Office REITs compare with similar industries?

AU Market0.96%
Real Estate-0.063%
REITS0.18%
Office REITs-0.71%
Industrial REITs1.14%
Diversified REITs0.18%
Residential REITs0.034%
Hotel and Resort REITs0%0
Healthcare REITs0%0
Retail REITs-1.22%
Specialized REITs-1.37%
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?

CompanyLast Price7D1YValuation
GDI GDI Property GroupAU$0.631.6%
+AU$5.4m		-6.7%PB12.7x
LED LDR Capital Property FundAU$0.501.0%
+AU$2.0m		-23.1%PB0.8x

Latest News

DXS
AU$5.73
DEXUS
7D
-0.9%
1Y
-17.6%
Narrative Update • Jul 22

DXS: Legal Overhang And Capital Recycling Will Shape A Measured Outlook

Analysts have lowered their A$ price target on DEXUS, citing updated assumptions that include a higher discount rate, a smaller projected decline in revenue growth, a wider profit margin, and a lower future P/E multiple. What’s in the News for DEXUS Dexus is involved in ongoing legal proceedings related to the APAC matter, with the Supreme Court of NSW Court of Appeal setting a three day hearing for the REST Appeal and the Dexus Bloc Appeal on 20 October 2026, and multiple parties including APAC, Future Fund, IFM and TCorp filing Notices of Contention.
GDI
AU$0.63
GDI Property Group
7D
1.6%
1Y
-6.7%
COF
AU$0.89
Centuria Office REIT
7D
-1.1%
1Y
-28.9%
Narrative Update • Jul 10

COF: Higher Discount Rate Will Pressure Future Earnings Multiple

Analysts have reduced their fair value estimate for Centuria Office REIT from A$1.10 to A$0.80, citing updated assumptions around revenue decline, higher discount rates and a reshaped profit margin outlook that feeds into a higher future P/E multiple. What’s in the News for Centuria Office REIT No recent news items for Centuria Office REIT are available from the specified primary sources at this time.
LED
AU$0.50
LDR Capital Property Fund
7D
1.0%
1Y
-23.1%
ABG
AU$0.92
Abacus Group
7D
-1.6%
1Y
-21.1%