Belgian (BEL20) REITS Industry Analysis
UpdatedNov 27, 2022
DataAggregated Company Financials
Companies17
- 7D-1.1%
- 3M-15.7%
- 1Y-31.3%
- YTD-32.0%
Over the last 7 days, the REITS industry has dropped 1.1%, driven by pullbacks in Aedifica and Warehouses De Pauw of 2.1% and 1.1%, respectively. The industry has fallen 31% in the last year. As for the next few years, earnings are forecast to decline by 19% per annum.
Industry Valuation and Performance
Has the Belgian REITS Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Sun, 27 Nov 2022 | €17.9b | €1.9b | €3.3b | 6.1x | 5.5x | 9.5x |
| Tue, 25 Oct 2022 | €17.1b | €1.9b | €3.1b | 6.4x | 5.5x | 9.1x |
| Thu, 22 Sep 2022 | €19.2b | €1.9b | €3.2b | 6.6x | 5.9x | 10.2x |
| Sat, 20 Aug 2022 | €21.9b | €1.9b | €3.1b | 7.5x | 7x | 11.7x |
| Mon, 18 Jul 2022 | €20.4b | €1.8b | €2.8b | 8.6x | 7.4x | 11.5x |
| Wed, 15 Jun 2022 | €20.8b | €1.8b | €2.8b | 9.3x | 7.5x | 11.7x |
| Fri, 13 May 2022 | €22.6b | €1.8b | €2.6b | 10.7x | 8.7x | 12.8x |
| Sun, 10 Apr 2022 | €25.3b | €1.7b | €2.4b | 12.2x | 10.7x | 15.2x |
| Tue, 08 Mar 2022 | €21.7b | €1.6b | €2.3b | 11.8x | 9.3x | 13.2x |
| Thu, 03 Feb 2022 | €23.9b | €1.6b | €2.1b | 11.3x | 11.5x | 14.6x |
| Sat, 01 Jan 2022 | €25.5b | €1.6b | €1.9b | 11.6x | 13.1x | 16x |
| Mon, 29 Nov 2021 | €25.2b | €1.6b | €1.9b | 11x | 13x | 15.8x |
| Wed, 27 Oct 2021 | €24.8b | €1.6b | €1.8b | 11.7x | 13.5x | 15.8x |
| Fri, 24 Sep 2021 | €24.1b | €1.6b | €1.6b | 11.9x | 14.8x | 15.4x |
| Sun, 22 Aug 2021 | €24.5b | €1.6b | €1.6b | 12.3x | 15x | 15.6x |
| Fri, 09 Jul 2021 | €21.7b | €1.6b | €1.6b | 12x | 13.3x | 13.8x |
| Thu, 01 Apr 2021 | €19.1b | €1.5b | €1.2b | 12x | 15.8x | 12.7x |
| Sun, 03 Jan 2021 | €18.8b | €1.5b | €857.9m | 18.6x | 21.9x | 12.5x |
| Wed, 07 Oct 2020 | €19.2b | €1.4b | €1.0b | 15.1x | 18.3x | 13.3x |
| Tue, 30 Jun 2020 | €17.7b | €1.4b | €1.0b | 15.7x | 17.4x | 12.3x |
| Fri, 03 Apr 2020 | €16.9b | €1.5b | €1.2b | 18x | 14.1x | 11.7x |
| Mon, 06 Jan 2020 | €18.8b | €1.4b | €1.3b | 16.5x | 13.9x | 13.3x |
Price to Earnings Ratio
17.5x
Current Industry PE
- Investors are pessimistic on the Belgian 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 5.5x which is lower than its 3-year average PE of 13.9x.
- The 3-year average PS ratio of 13.1x is higher than the industry's current PS ratio of 9.5x.
Past Earnings Growth
- The earnings for companies in the REITs industry have grown 43% per year over the last three years.
- Revenues for these companies have grown 13% per year.
- This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.
Industry Trends
Which industries have driven the changes within the Belgian Real Estate industry?
| BE Market | 1.51% | |
| Real Estate | -1.01% | |
| REITS | -1.13% | |
| Retail REITs | 1.31% | |
| Office REITs | 0.32% | |
| Specialized REITs | 0% | |
| Hotel and Resort REITs | 0% | |
| Industrial REITs | -1.21% | |
| Healthcare REITs | -1.32% | |
| Residential REITs | -2.14% | |
| Diversified REITs | -5.96% | |
Industry PE
- Investors are most optimistic about the Office REITs industry, which is trading close to its 3-year average PE ratio of 10.7x.
- Analysts are expecting annual earnings growth of 7.2%, which is lower than the prior year's growth of 60.8% per year.
- Investors are most pessimistic about the Residential REITs industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average.
Forecasted Growth
- Analysts are most optimistic on the Office REITs industry, expecting annual earnings growth of 7.2% over the next 5 years.
- However this is lower than its past earnings growth rate of 61% per year.
- In contrast, the Industrial REITs industry is expected to see its earnings decline by 34% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| RET Retail Estates | €62.70 | 1.8% +€68.4m | -10.7% | PB0.9x | |
| ASC Ascencio | €52.00 | 2.8% +€9.2m | 3.4% | PB0.8x | |
| BEFB Befimmo | €47.15 | 0.3% +€4.1m | 44.9% | PB0.7x | |
| WEHB Wereldhave Belgium | €50.40 | 0.8% +€3.5m | 4.9% | PB0.6x |