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German (DAX) Real Estate Sector Analysis

UpdatedDec 03, 2022
DataAggregated Company Financials
Companies71
  • 7D-1.2%
  • 3M-10.9%
  • 1Y-43.0%
  • YTD-40.6%

The Real Estate industry is down 1.2% over the last week with Vonovia the worst performer, down 1.2%. On the other hand TLG Immobilien is actually up 5.3%. The industry has fallen 43% in the last year. As for the next few years, earnings are forecast to decline by 8.6% per annum.

Sector Valuation and Performance

Has the German Real Estate Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 03 Dec 2022€72.3b€26.0b€6.7b11.8x10.8x2.8x
Mon, 31 Oct 2022€70.6b€25.1b€7.5b11x9.4x2.8x
Wed, 28 Sep 2022€65.9b€25.1b€7.5b11.3x8.8x2.6x
Fri, 26 Aug 2022€79.5b€24.7b€8.2b12.3x9.6x3.2x
Sun, 24 Jul 2022€84.4b€22.8b€8.6b12.5x9.9x3.7x
Tue, 21 Jun 2022€83.9b€22.8b€8.5b12.3x9.8x3.7x
Thu, 19 May 2022€91.5b€23.0b€9.0b11.9x10.2x4x
Sat, 16 Apr 2022€100.6b€18.5b€11.1b13.9x9x5.4x
Mon, 14 Mar 2022€112.8b€18.6b€14.2b13.6x8x6.1x
Wed, 09 Feb 2022€115.9b€18.6b€14.3b14x8.1x6.2x
Fri, 07 Jan 2022€116.0b€18.2b€13.9b13.5x8.4x6.4x
Sun, 05 Dec 2021€110.2b€18.3b€14.0b14.3x7.9x6x
Tue, 02 Nov 2021€111.2b€18.2b€11.8b15x9.4x6.1x
Thu, 30 Sep 2021€114.5b€18.1b€11.8b14.5x9.7x6.3x
Sat, 28 Aug 2021€121.9b€18.3b€12.0b13.9x10.1x6.7x
Sun, 04 Jul 2021€116.0b€18.3b€12.0b13.6x9.6x6.3x
Wed, 07 Apr 2021€108.2b€18.2b€10.0b13.3x10.8x5.9x
Sat, 09 Jan 2021€115.3b€18.3b€9.6b15.4x12x6.3x
Fri, 02 Oct 2020€108.0b€17.5b€9.9b12.6x11x6.2x
Mon, 06 Jul 2020€102.8b€17.3b€9.8b12x10.5x5.9x
Thu, 09 Apr 2020€89.9b€16.6b€9.9b9.7x9.1x5.4x
Wed, 01 Jan 2020€103.3b€16.1b€10.1b10.6x10.3x6.4x
Price to Earnings Ratio

9.7x


Total Market Cap: €101.1bTotal Earnings: €10.4bTotal Revenue: €15.3bTotal Market Cap vs Earnings and Revenue0%0%0%
German Real Estate Sector Price to Earnings3Y Average 10x202020212022
Current Industry PE
  • Investors are relatively neutral on the German Real Estate industry at the moment, indicating that they anticipate long term growth rates to remain steady.
  • The industry is trading close to its 3-year average PE ratio of 10.0x.
  • The 3-year average PS ratio of 5.5x is higher than the industry's current PS ratio of 2.8x.
Past Earnings Growth
  • The earnings for companies in the Real Estate industry have declined 14% per year over the last three years.
  • Meanwhile revenues for these companies have grown 19% per year.
  • This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.

Industry Trends

Which industries have driven the changes within the German Real Estate sector?

DE Market0.54%
Real Estate-1.16%
Real Estate-1.06%
REITS-3.63%
Industry PE
  • Investors are most optimistic about the Real Estate industry, which is trading close to its 3-year average PE ratio of 10.0x.
    • Analysts are expecting annual earnings decline of 9.0%, which is worse than the prior year's decline of 0.08%.
  • Investors are most pessimistic about the REITS industry, which is trading below its 3-year average of 11.1x.
Forecasted Growth
  • Despite it being negative, analysts are least pessimistic on the REITS industry since they expect its earnings to decline by only 1.3% 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 0.8% per year.
  • In contrast, the Real Estate industry is expected to see its earnings decline by 9.0% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
TLG TLG Immobilien€20.005.3%
+€113.1m
n/aPB0.7x
9HF Henri Broen Holding B.V€13.302.3%
+€75.0m
n/an/a
ADL ADLER Real Estate€6.6811.0%
+€72.2m
-12.1%PB0.5x
PAT PATRIZIA€9.893.9%
+€32.4m
-51.2%PB0.7x
SPB Sedlmayr Grund und Immobilien€2.36k0.9%
+€14.7m
-23.4%PB6.2x
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Latest News

PAT

€9.89

PATRIZIA

7D

3.9%

1Y

-51.2%

LEG

€62.52

LEG Immobilien

7D

-2.0%

1Y

-48.9%

DWNI

€20.85

Deutsche Wohnen

7D

-2.6%

1Y

-47.9%

DIC

€7.83

DIC Asset

7D

1.2%

1Y

-45.7%

AT1

€2.43

Aroundtown

7D

-5.3%

1Y

-54.0%

AAA

€2.70

A.A.A. Allgemeine Anlageverwaltung

7D

10.7%

1Y

45.9%

VNA

€24.01

Vonovia

7D

-1.2%

1Y

-52.0%

DEQ

€21.94

Deutsche EuroShop

7D

-3.9%

1Y

56.7%

DMRE

€2.38

DEMIRE Deutsche Mittelstand Real Estate

7D

3.9%

1Y

-46.6%

GYC

€9.81

Grand City Properties

7D

-3.9%

1Y

-52.4%

TLG

€20.00

TLG Immobilien

7D

5.3%

1Y

n/a

AOX

€7.37

alstria office REIT-AG

7D

-5.8%

1Y

-62.2%

GIB

€88.00

GSW Immobilien

7D

-3.8%

1Y

-23.5%

ADL

€6.68

ADLER Real Estate

7D

11.0%

1Y

-12.1%