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Brazilian (BOVESPA) REITS Industry Analysis
UpdatedApr 16, 2025
DataAggregated Company Financials
Companies19
- 7D2.4%
- 3M2.9%
- 1Y-14.4%
- YTD0.8%
Over the last 7 days, the REITS industry has risen 2.4%, driven by gains from Kinea Renda Imobiliária Fundo de Investimento Imobiliário of 3.7%. During this same period, the Multigestao Renda Comercial Fundo De Investimento Imobiliario - FII underperformed, falling 5.1%. In contrast, the industry has lost 14% in the last 12 months.
Industry Valuation and Performance
Has the Brazilian REITS Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Wed, 16 Apr 2025 | R$8.5b | R$307.8m | R$200.3m | 15.9x | 42.2x | 27.5x |
| Fri, 14 Mar 2025 | R$7.4b | R$307.8m | R$200.3m | 15.4x | 36.8x | 23.9x |
| Sun, 09 Feb 2025 | R$7.9b | R$291.1m | R$198.1m | 4.3x | 40.1x | 27.3x |
| Tue, 07 Jan 2025 | R$8.4b | R$291.1m | R$198.1m | 4.9x | 42.2x | 28.7x |
| Thu, 05 Dec 2024 | R$8.2b | R$633.0m | R$492.2m | 8.5x | 16.6x | 12.9x |
| Sat, 02 Nov 2024 | R$8.7b | R$526.8m | R$393.7m | 13.2x | 22.1x | 16.5x |
| Mon, 30 Sep 2024 | R$8.9b | R$526.8m | R$393.7m | 13.4x | 22.5x | 16.8x |
| Wed, 28 Aug 2024 | R$9.4b | R$526.8m | R$393.7m | 14.7x | 24x | 17.9x |
| Fri, 26 Jul 2024 | R$9.4b | R$526.8m | R$393.7m | 14.9x | 23.9x | 17.9x |
| Sun, 23 Jun 2024 | R$8.6b | R$526.8m | R$393.7m | 12.6x | 21.7x | 16.3x |
| Tue, 21 May 2024 | R$8.5b | R$526.8m | R$393.7m | 13.1x | 21.7x | 16.2x |
| Thu, 18 Apr 2024 | R$8.6b | R$473.4m | R$339.8m | 23.2x | 25.4x | 18.2x |
| Sat, 16 Mar 2024 | R$8.7b | R$492.3m | R$402.2m | 13.9x | 21.6x | 17.6x |
| Mon, 12 Feb 2024 | R$8.6b | R$492.3m | R$402.2m | 13.9x | 21.3x | 17.4x |
| Wed, 10 Jan 2024 | R$7.7b | R$492.3m | R$402.2m | 14.1x | 19.3x | 15.7x |
| Fri, 08 Dec 2023 | R$7.4b | R$492.3m | R$402.2m | 13.5x | 18.5x | 15.1x |
| Sun, 05 Nov 2023 | R$7.6b | R$492.3m | R$402.2m | 13.3x | 18.8x | 15.4x |
| Tue, 03 Oct 2023 | R$7.9b | R$498.2m | R$402.2m | 13.9x | 19.6x | 15.8x |
| Thu, 31 Aug 2023 | R$7.5b | R$420.0m | R$365.7m | 14.8x | 20.4x | 17.7x |
| Sat, 29 Jul 2023 | R$7.7b | R$420.0m | R$365.7m | 15.3x | 20.9x | 18.2x |
| Mon, 26 Jun 2023 | R$9.0b | R$478.0m | R$374.3m | 14.8x | 24x | 18.8x |
| Wed, 24 May 2023 | R$8.7b | R$478.0m | R$374.3m | 14.1x | 23.2x | 18.1x |
| Fri, 21 Apr 2023 | R$8.2b | R$478.0m | R$374.3m | 12.7x | 22x | 17.2x |
| Sun, 19 Mar 2023 | R$22.5b | R$1.7b | R$1.1b | 12.3x | 20.9x | 13.6x |
| Tue, 14 Feb 2023 | R$24.6b | R$1.7b | R$1.1b | 12.3x | 22.8x | 14.5x |
| Thu, 12 Jan 2023 | R$25.4b | R$1.7b | R$1.1b | 12.4x | 23.6x | 15x |
| Sat, 10 Dec 2022 | R$24.1b | R$312.4m | R$276.9m | 9.5x | 87.1x | 77.2x |
| Mon, 07 Nov 2022 | R$25.7b | R$312.4m | R$276.9m | 10.5x | 92.9x | 82.4x |
| Wed, 05 Oct 2022 | R$24.2b | R$312.4m | R$276.9m | 10.7x | 87.5x | 77.5x |
| Fri, 02 Sep 2022 | R$24.1b | R$312.4m | R$276.9m | 10.8x | 86.9x | 77x |
| Sun, 31 Jul 2022 | R$22.2b | R$312.4m | R$276.9m | 9.4x | 80x | 70.9x |
| Tue, 28 Jun 2022 | R$20.1b | R$1.0b | R$868.3m | 8x | 23.2x | 19.7x |
| Thu, 26 May 2022 | R$20.2b | R$1.0b | R$868.3m | 7.9x | 23.3x | 19.8x |
| Sat, 23 Apr 2022 | R$103.7b | R$1.0b | R$868.3m | 8.3x | 119.4x | 101.3x |
Price to Earnings Ratio
119.4x
Current Industry PE
- Investors are optimistic on the Brazilian REITs industry, and appear confident in long term growth rates.
- The industry is trading at a PE ratio of 42.2x which is higher than its 3-year average PE of 36.7x.
- The industry is trading close to its 3-year average PS ratio of 29.8x.
Past Earnings Growth
- The earnings for companies in the REITs industry have declined 39% per year over the last three years,
- Revenues have also declined 33% per year.
- This means overall sales from these companies are declining and profits are subsequently falling as well.
Industry Trends
Which industries have driven the changes within the Brazilian Real Estate industry?
| BR Market | 0.92% | |
| Real Estate | 2.12% | |
| REITS | 2.35% | |
| Retail REITs | 10.77% | |
| Diversified REITs | 2.35% | |
| Industrial REITs | 2.12% | |
| Healthcare REITs | 1.22% | |
| Residential REITs | 0% | 0 |
| Specialized REITs | 0% | 0 |
| Office REITs | -0.31% | |
Industry PE
- Investors are most optimistic about the Office REITs industry which is trading above its 3-year average PE ratio of 32.1x.
- It looks like they are confident that earnings will grow faster in the future than they have historically.
- Investors are most pessimistic about the Industrial REITs industry, which is trading below its 3-year average of 842x.
Forecasted GrowthThere is insufficient data on the sub-industries of this industry.
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$137.99 | 3.7% +R$140.5m | -15.4% | n/a | |
| NVHO11 Fundo De Investimento Imobiliario Novo Horizonte | R$11.67 | 6.1% +R$27.8m | 5.2% | n/a | |
| MFII11 Mérito Desenvolvimento Imobiliário I FII - Fundo de Investimento Imobiliário | R$85.31 | 3.8% +R$16.3m | -18.1% | PB0.9x | |
| JSRE11 JS Real Estate multigestão - FII fund | R$59.53 | 0.6% +R$6.9m | -17.8% | PB0.5x | |
| PORD11 Polo Fundo de Investimento Imobiliário - Recebíveis Imobiliários II - FII | R$7.97 | 2.3% +R$6.7m | -15.1% | n/a |