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Brazilian (BOVESPA) Real Estate Sector Analysis
UpdatedFeb 21, 2025
DataAggregated Company Financials
Companies66
- 7D1.1%
- 3M-9.3%
- 1Y-16.8%
- YTD1.8%
Over the last 7 days, the Real Estate industry has risen 1.1%, driven by gains from Kinea Renda Imobiliária Fundo de Investimento Imobiliário of 3.7%. Meanwhile, Fundo de Investimento Imobiliário - FII Ancar IC actually underperformed within the industry, shrinking 8.2% in the last week. In contrast, the industry has lost 17% in the last 12 months. As for the next few years, earnings are expected to grow by 4.2% per annum.
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 |
|---|---|---|---|---|---|---|
| Fri, 21 Feb 2025 | R$66.5b | R$18.5b | R$6.1b | 7.6x | 10.9x | 3.6x |
| Sun, 19 Jan 2025 | R$64.3b | R$18.1b | R$5.9b | 7.1x | 10.9x | 3.6x |
| Tue, 17 Dec 2024 | R$67.4b | R$18.4b | R$6.2b | 7.1x | 10.9x | 3.7x |
| Thu, 14 Nov 2024 | R$73.6b | R$18.4b | R$6.0b | 7.7x | 12.2x | 4x |
| Sat, 12 Oct 2024 | R$75.1b | R$18.1b | R$5.7b | 9.1x | 13.3x | 4.2x |
| Mon, 09 Sep 2024 | R$79.5b | R$17.5b | R$5.2b | 9.7x | 15.2x | 4.5x |
| Wed, 07 Aug 2024 | R$79.8b | R$16.5b | R$5.1b | 9.4x | 15.8x | 4.8x |
| Fri, 05 Jul 2024 | R$78.2b | R$16.5b | R$5.0b | 9.9x | 15.7x | 4.7x |
| Sun, 02 Jun 2024 | R$77.4b | R$16.8b | R$5.3b | 9.7x | 14.6x | 4.6x |
| Tue, 30 Apr 2024 | R$79.4b | R$17.5b | R$8.0b | 8.8x | 9.9x | 4.5x |
| Thu, 28 Mar 2024 | R$80.4b | R$16.5b | R$7.5b | 9.5x | 10.8x | 4.9x |
| Sat, 24 Feb 2024 | R$75.7b | R$14.5b | R$6.7b | 10.4x | 11.3x | 5.2x |
| Mon, 22 Jan 2024 | R$84.3b | R$15.8b | R$7.0b | 10.2x | 12x | 5.3x |
| Wed, 20 Dec 2023 | R$84.9b | R$29.0b | R$7.0b | 10.7x | 12.1x | 2.9x |
| Fri, 17 Nov 2023 | R$82.3b | R$29.5b | R$7.1b | 9.8x | 11.5x | 2.8x |
| Sun, 15 Oct 2023 | R$80.0b | R$15.7b | R$7.2b | 8.8x | 11.2x | 5.1x |
| Tue, 12 Sep 2023 | R$80.3b | R$15.6b | R$7.1b | 10.5x | 11.3x | 5.1x |
| Thu, 10 Aug 2023 | R$84.5b | R$14.7b | R$6.7b | 12.1x | 12.5x | 5.7x |
| Sat, 08 Jul 2023 | R$85.2b | R$14.5b | R$5.0b | 11.4x | 17x | 5.9x |
| Mon, 05 Jun 2023 | R$78.5b | R$15.0b | R$5.4b | 10.8x | 14.5x | 5.2x |
| Wed, 03 May 2023 | R$72.8b | R$14.5b | R$2.2b | 12x | 32.4x | 5x |
| Fri, 31 Mar 2023 | R$73.2b | R$13.6b | R$2.1b | 11.3x | 35x | 5.4x |
| Sun, 26 Feb 2023 | R$68.5b | R$16.4b | R$4.0b | 10.9x | 16.9x | 4.2x |
| Tue, 24 Jan 2023 | R$68.7b | R$16.4b | R$4.1b | 11.2x | 16.8x | 4.2x |
| Thu, 22 Dec 2022 | R$66.1b | R$15.0b | R$3.3b | 8.3x | 20.1x | 4.4x |
| Sat, 19 Nov 2022 | R$68.7b | R$14.9b | R$3.2b | 8.5x | 21.5x | 4.6x |
| Mon, 17 Oct 2022 | R$75.2b | R$14.5b | R$3.1b | 7.9x | 24.4x | 5.2x |
| Wed, 14 Sep 2022 | R$74.6b | R$14.5b | R$3.1b | 8x | 24.3x | 5.2x |
| Fri, 12 Aug 2022 | R$73.2b | R$14.4b | R$4.5b | 8.3x | 16.3x | 5.1x |
| Sun, 10 Jul 2022 | R$68.6b | R$14.2b | R$4.8b | 8.4x | 14.3x | 4.8x |
| Tue, 07 Jun 2022 | R$69.9b | R$14.8b | R$5.4b | 8.1x | 13x | 4.7x |
| Thu, 05 May 2022 | R$157.0b | R$14.5b | R$5.5b | 8.4x | 28.6x | 10.9x |
| Sat, 02 Apr 2022 | R$156.5b | R$14.2b | R$5.0b | 8.2x | 31.5x | 11x |
| Mon, 28 Feb 2022 | R$155.0b | R$12.7b | R$3.7b | 10.8x | 42.2x | 12.2x |
Price to Earnings Ratio
42.2x
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 10.9x which is lower than its 3-year average PE of 17.1x.
- The 3-year average PS ratio of 5.1x is higher than the industry's current PS ratio of 3.6x.
Past Earnings Growth
- The earnings for companies in the Real Estate industry have grown 19% 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 Brazilian Real Estate sector?
| BR Market | 1.41% | |
| Real Estate | 1.14% | |
| REITS | 3.20% | |
| Industrial REITs | 1.55% | |
| Office REITs | 1.29% | |
| Real Estate | 0.98% | |
| Specialized REITs | 0% | 0 |
| Residential REITs | 0% | 0 |
| Hotel and Resort REITs | 0% | 0 |
| Health Care REITs | -1.58% | |
| Retail REITs | -2.55% | |
Industry PE
- Investors are most optimistic about the Office REITs industry which is trading above its 3-year average PE ratio of 33.6x.
- 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 13.3x.
Forecasted Growth
- Analysts are most optimistic on the Real Estate industry, expecting annual earnings growth of 4.2% over the next 5 years.
- However this is lower than its past earnings growth rate of 32% per year.
- In contrast, the Real Estate industry is expected to see its earnings grow by 4.2% 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 | |
|---|---|---|---|---|---|
| KNRI11 Kinea Renda Imobiliária Fundo de Investimento Imobiliário | R$134.84 | 3.7% +R$136.5m | -18.6% | n/a | |
| MULT3 Multiplan Empreendimentos Imobiliários | R$22.48 | 0.9% +R$92.8m | -12.1% | PE8.2x | |
| IGTI3 Iguatemi | R$2.32 | 3.1% +R$84.5m | -20.3% | PE7.4x | |
| BTLG11 BTG Pactual Logística Fundo de Investimento Imobiliário | R$95.63 | 1.6% +R$65.7m | -7.0% | PB0.9x | |
| HGLG11 Cshg Logistica - Fundo De Investimento Imobiliario | R$149.68 | 1.3% +R$62.5m | -9.9% | PB0.9x |