There's Reason For Concern Over Iguatemi S.A.'s (BVMF:IGTI3) Price
Apr 17
Brazilian (BOVESPA) Real Estate Sector Analysis
UpdatedApr 22, 2024
DataAggregated Company Financials
Companies63
- 7D-2.4%
- 3M-3.2%
- 1Y11.9%
- YTD-5.8%
Over the last 7 days, the Real Estate industry has dropped 2.4%, driven by a pullback from Allos of 2.7%. In the past year, the industry has gained 12%. Earnings are forecast to be flat in the coming years.
Sector Valuation and Performance
Has the Brazilian Real Estate Sector valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Tue, 23 Apr 2024 | R$79.3b | R$17.4b | R$7.9b | 9.5x | 10x | 4.5x |
| Thu, 21 Mar 2024 | R$80.9b | R$15.9b | R$7.1b | 9.8x | 11.4x | 5.1x |
| Sat, 17 Feb 2024 | R$74.7b | R$14.3b | R$6.6b | 10x | 11.4x | 5.2x |
| Mon, 15 Jan 2024 | R$85.6b | R$15.8b | R$7.0b | 10.3x | 12.2x | 5.4x |
| Wed, 13 Dec 2023 | R$83.0b | R$29.0b | R$7.0b | 9.7x | 11.8x | 2.9x |
| Fri, 10 Nov 2023 | R$80.7b | R$28.9b | R$7.2b | 9.3x | 11.3x | 2.8x |
| Sun, 08 Oct 2023 | R$78.0b | R$15.7b | R$7.2b | 8.7x | 10.9x | 5x |
| Tue, 05 Sep 2023 | R$80.0b | R$15.6b | R$7.1b | 10.2x | 11.3x | 5.1x |
| Thu, 03 Aug 2023 | R$84.4b | R$14.8b | R$5.3b | 12x | 15.9x | 5.7x |
| Sat, 01 Jul 2023 | R$83.8b | R$14.5b | R$5.0b | 11.6x | 16.9x | 5.8x |
| Mon, 29 May 2023 | R$78.0b | R$15.0b | R$5.4b | 10.6x | 14.4x | 5.2x |
| Wed, 26 Apr 2023 | R$72.0b | R$14.5b | R$2.3b | 12x | 31.1x | 5x |
| Fri, 24 Mar 2023 | R$54.5b | R$13.5b | R$1.8b | 9.6x | 31x | 4x |
| Sun, 19 Feb 2023 | R$69.1b | R$16.4b | R$4.0b | 10.8x | 17.1x | 4.2x |
| Tue, 17 Jan 2023 | R$68.1b | R$16.4b | R$4.1b | 11.1x | 16.7x | 4.2x |
| Thu, 15 Dec 2022 | R$64.6b | R$15.0b | R$3.3b | 8.4x | 19.6x | 4.3x |
| Sat, 12 Nov 2022 | R$71.3b | R$14.7b | R$3.2b | 7.1x | 22.2x | 4.9x |
| Mon, 10 Oct 2022 | R$76.6b | R$14.5b | R$3.1b | 8.6x | 24.9x | 5.3x |
| Wed, 07 Sep 2022 | R$73.5b | R$14.5b | R$3.1b | 8.1x | 23.9x | 5.1x |
| Fri, 05 Aug 2022 | R$71.7b | R$14.3b | R$4.9b | 8.7x | 14.7x | 5x |
| Sun, 03 Jul 2022 | R$67.1b | R$14.2b | R$4.8b | 7.9x | 14x | 4.7x |
| Tue, 31 May 2022 | R$71.3b | R$14.8b | R$5.4b | 8.3x | 13.2x | 4.8x |
| Thu, 28 Apr 2022 | R$155.2b | R$14.3b | R$5.3b | 8.3x | 29.1x | 10.9x |
| Sat, 26 Mar 2022 | R$158.2b | R$14.9b | R$5.2b | 8.5x | 30.6x | 10.6x |
| Mon, 21 Feb 2022 | R$157.5b | R$12.7b | R$3.7b | 10.8x | 42.7x | 12.4x |
| Wed, 19 Jan 2022 | R$151.3b | R$12.4b | R$3.7b | 11.7x | 41.1x | 12.2x |
| Fri, 17 Dec 2021 | R$148.2b | R$12.5b | R$4.2b | 12.2x | 35.4x | 11.8x |
| Sun, 14 Nov 2021 | R$77.6b | R$12.2b | R$4.2b | 11.6x | 18.7x | 6.3x |
| Tue, 12 Oct 2021 | R$78.7b | R$12.0b | R$4.7b | 12.1x | 16.8x | 6.6x |
| Thu, 09 Sep 2021 | R$77.8b | R$13.0b | R$6.0b | 9.7x | 12.9x | 6x |
| Sat, 07 Aug 2021 | R$67.9b | R$11.4b | R$3.9b | 14.2x | 17.4x | 6x |
| Fri, 30 Apr 2021 | R$64.9b | R$10.2b | R$2.6b | 21.6x | 25.4x | 6.4x |
Price to Earnings Ratio
25.4x
Current Industry PE
- Investors are pessimistic on the Brazilian Real Estate 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 10.0x which is lower than its 3-year average PE of 20.2x.
- The 3-year average PS ratio of 6.1x is higher than the industry's current PS ratio of 4.5x.
Past Earnings Growth
- The earnings for companies in the Real Estate industry have grown 46% per year over the last three years.
- Revenues for these companies have grown 20% 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 Brazilian Real Estate sector?
| BR Market | -0.97% | |
| Real Estate | -2.44% | |
| Residential REITs | 0% | |
| Hotel and Resort REITs | 0% | |
| REITS | -0.38% | |
| Health Care REITs | -0.50% | |
| Office REITs | -0.61% | |
| Specialized REITs | -1.14% | |
| Retail REITs | -1.75% | |
| Real Estate | -3.02% | |
| Industrial REITs | -3.19% | |
Industry PE
- Investors are most optimistic about the REITS industry even though it's trading below its 3-year average PE ratio of 49.2x.
- It looks like they are confident that earnings will grow faster in the future than they have historically.
- Investors are most pessimistic about the Real Estate industry, which is trading below its 3-year average of 15.4x.
Forecasted Growth
- Despite it being negative, analysts are least pessimistic on the Real Estate industry since they expect its earnings to decline by only 0.5% per year over the next 5 years, which isn't as bad as the other industries.
- This is a reversal from its past annual earnings growth rate of 96% per year.
- In contrast, the Real Estate industry is expected to see its earnings growth to stay flat 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 | |
|---|---|---|---|---|---|
| JFEN3 João Fortes Engenharia | R$1.62 | -2.4% R$364.2m | -32.2% | PS4.8x | |
| LAND3 Terra Santa Propriedades Agrícolas | R$15.25 | 5.1% +R$71.2m | -47.0% | PE41.7x | |
| JHSF3 JHSF Participações | R$4.20 | 2.2% +R$61.0m | 13.5% | PE62.8x | |
| BRCR11 Fundo de Investimento Imobiliário - FII BTG Pactual Office Fund | R$55.99 | 2.6% +R$38.4m | 1.7% | PB0.6x | |
| LPSB3 LPS Brasil - Consultoria de Imóveis | R$2.20 | 10.0% +R$27.5m | 28.7% | PE12.9x |
