Analysis Article • Aug 29
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German (DAX) Real Estate Sector Analysis
UpdatedAug 30, 2026
DataAggregated Company Financials
Companies57
- 7D-0.4%
- 3M-5.7%
- 1Y-21.0%
- YTD-11.2%
The Real Estate industry has stayed flat over the last week. As for the longer term, the industry has declined 21% in the last year. In the next few years, earnings are forecast to decline by 1.1% annually.
Sector Valuation and Performance
Has the German Real Estate Sector valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Sun, 30 Aug 2026 | €54.1b | €16.7b | €8.1b | 9.1x | 6.7x | 3.2x |
| Tue, 28 Jul 2026 | €55.6b | €16.7b | €7.3b | 9.2x | 7.6x | 3.3x |
| Thu, 25 Jun 2026 | €55.2b | €16.8b | €7.2b | 9.7x | 7.7x | 3.3x |
| Sat, 23 May 2026 | €56.7b | €17.1b | €7.2b | 11.4x | 7.8x | 3.3x |
| Mon, 20 Apr 2026 | €61.3b | €18.0b | €7.7b | 12.2x | 8x | 3.4x |
| Wed, 18 Mar 2026 | €61.4b | €18.8b | €4.2b | 10.6x | 14.8x | 3.3x |
| Fri, 13 Feb 2026 | €64.0b | €18.8b | €4.1b | 10.7x | 15.6x | 3.4x |
| Sun, 11 Jan 2026 | €63.1b | €18.8b | €4.1b | 11.3x | 15.4x | 3.4x |
| Tue, 09 Dec 2025 | €64.9b | €19.0b | €4.1b | 11.2x | 15.9x | 3.4x |
| Thu, 06 Nov 2025 | €66.8b | €19.4b | €3.0b | 15.2x | 22.2x | 3.4x |
| Sat, 04 Oct 2025 | €69.8b | €19.4b | €3.0b | 15.4x | 23.3x | 3.6x |
| Mon, 01 Sep 2025 | €71.5b | €19.4b | €3.0b | 14.7x | 23.8x | 3.7x |
| Wed, 30 Jul 2025 | €70.1b | €19.2b | €148.5m | 21.1x | 472.3x | 3.7x |
| Fri, 27 Jun 2025 | €68.2b | €19.2b | -€81,990,140.02 | 17.7x | -831.3x | 3.5x |
| Sun, 25 May 2025 | €67.5b | €19.6b | -€248,474,995.07 | 23.2x | -271.7x | 3.5x |
| Tue, 22 Apr 2025 | €64.9b | €18.9b | -€619,768,446.23 | 21.2x | -104.7x | 3.4x |
| Thu, 20 Mar 2025 | €60.6b | €18.9b | -€3,642,740,864.15 | 14.3x | -16.6x | 3.2x |
| Sat, 15 Feb 2025 | €67.2b | €17.9b | -€7,469,376,516.70 | 23.5x | -9x | 3.8x |
| Mon, 13 Jan 2025 | €65.3b | €17.7b | -€7,471,416,453.11 | 19.1x | -8.7x | 3.7x |
| Wed, 11 Dec 2024 | €70.1b | €17.8b | -€7,659,906,883.54 | 19.3x | -9.2x | 3.9x |
| Fri, 08 Nov 2024 | €69.1b | €17.3b | -€8,512,599,620.09 | 18.2x | -8.1x | 4x |
| Sun, 06 Oct 2024 | €77.0b | €17.1b | -€7,789,538,821.70 | 12.7x | -9.9x | 4.5x |
| Tue, 03 Sep 2024 | €73.0b | €17.1b | -€8,037,771,883.18 | 21.8x | -9.1x | 4.3x |
| Thu, 01 Aug 2024 | €67.3b | €17.4b | -€12,456,189,237.70 | 24x | -5.4x | 3.9x |
| Sat, 29 Jun 2024 | €65.8b | €17.5b | -€12,664,905,258.67 | 26.7x | -5.2x | 3.8x |
| Mon, 27 May 2024 | €65.3b | €17.1b | -€12,757,997,659.00 | 25x | -5.1x | 3.8x |
| Wed, 24 Apr 2024 | €64.5b | €17.6b | -€16,937,843,986.00 | 29x | -3.8x | 3.7x |
| Fri, 22 Mar 2024 | €66.2b | €17.7b | -€16,717,179,517.00 | 29.8x | -4x | 3.7x |
| Sun, 18 Feb 2024 | €66.9b | €18.2b | -€16,713,208,499.00 | 32.1x | -4x | 3.7x |
| Tue, 16 Jan 2024 | €76.3b | €19.0b | -€18,166,375,683.00 | 34.7x | -4.2x | 4x |
| Thu, 14 Dec 2023 | €74.8b | €19.5b | -€17,414,828,977.00 | 17.4x | -4.3x | 3.8x |
| Sat, 11 Nov 2023 | €70.6b | €19.7b | -€16,872,442,506.00 | 13.1x | -4.2x | 3.6x |
| Mon, 09 Oct 2023 | €69.9b | €19.8b | -€16,798,235,339.00 | 13.6x | -4.2x | 3.5x |
| Wed, 06 Sep 2023 | €70.9b | €19.8b | -€16,880,934,122.00 | 14.5x | -4.2x | 3.6x |
Price to Earnings Ratio
-4.2x
Current Industry PE
- Investors are pessimistic on the German 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 6.7x which is higher than its 3-year average PE of -14.6x.
- The 3-year average PS ratio of 3.6x is higher than the industry's current PS ratio of 3.2x.
Past Earnings Growth
- Total earnings for the Real Estate industry have gone up over the last three years and the industry is now profitable.
- Revenues have declined 5.6% per year.
- This means that less sales are being generated overall, but since the cost of doing business is lower, profits have been increasing.
Industry Trends
Which industries have driven the changes within the German Real Estate sector?
| DE Market | 1.69% | |
| Real Estate | -0.43% | |
| REITS | 5.93% | |
| Retail REITs | 1.31% | |
| Office REITs | 0% | 0 |
| Real Estate | -0.46% | |
Industry PE
- Investors are most optimistic about the Real Estate industry which is trading above its 3-year average PE ratio.
- Analysts are expecting annual earnings decline of 2.1%, which is lower than the prior year's growth of 41.0% per year.
Forecasted Growth
- Analysts are most optimistic on the Retail REITs industry, expecting annual earnings growth of 74% over the next 5 years.
- In contrast, the Real Estate industry is expected to see its earnings decline by 2.1% 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 | |
|---|---|---|---|---|---|
| AT1 Aroundtown | €1.98 | -3.7% €179.2m | -41.7% | PE5.5x | |
| TEG TAG Immobilien | €13.12 | 1.7% +€41.9m | -14.2% | PE45.5x | |
| GYC Grand City Properties | €9.37 | 2.2% +€35.2m | -15.0% | PE4.2x | |
| DWNI Deutsche Wohnen | €18.00 | 0.2% +€15.9m | -19.5% | PE4.7x | |
| LEG LEG Immobilien | €50.20 | 0.3% +€11.3m | -29.8% | PE2.9x |
