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Spanish (IBEX) REITS Industry Analysis
UpdatedMay 20, 2025
DataAggregated Company Financials
Companies25
- 7D2.6%
- 3M-1.9%
- 1Y-0.8%
- YTD2.9%
In the last week, the REITS industry is up 2.6%, with MERLIN Properties SOCIMI up 3.9%. The industry has been flat over the past 12 months despite the gain this week. As for the next few years, earnings are expected to grow by 27% per annum.
Industry Valuation and Performance
Has the Spanish REITS Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Tue, 20 May 2025 | €8.9b | €1.2b | €606.3m | 16.1x | 14.7x | 7.3x |
| Thu, 17 Apr 2025 | €8.3b | €734.5m | €219.0m | 32.9x | 37.9x | 11.3x |
| Sat, 15 Mar 2025 | €8.4b | €733.5m | €210.0m | 36.1x | 39.9x | 11.4x |
| Mon, 10 Feb 2025 | €9.1b | €715.5m | €56.9m | 39.7x | 159x | 12.7x |
| Wed, 08 Jan 2025 | €8.6b | €707.2m | €54.2m | 40.4x | 158.9x | 12.2x |
| Fri, 06 Dec 2024 | €8.6b | €705.8m | €54.2m | 40.5x | 158.1x | 12.1x |
| Sun, 03 Nov 2024 | €8.5b | €697.3m | €21.5m | 28.9x | 393x | 12.1x |
| Tue, 01 Oct 2024 | €9.1b | €695.7m | €17.1m | 27.9x | 531x | 13x |
| Thu, 29 Aug 2024 | €8.9b | €694.7m | €17.1m | 27.8x | 522.6x | 12.8x |
| Sat, 27 Jul 2024 | €7.8b | €696.5m | €5.8m | 27x | 1352.4x | 11.2x |
| Mon, 24 Jun 2024 | €7.9b | €721.2m | -€171,103,523.00 | 21.4x | -45.9x | 10.9x |
| Wed, 22 May 2024 | €7.9b | €719.8m | -€3,685,404.00 | 21.1x | -2131.9x | 10.9x |
| Fri, 19 Apr 2024 | €7.7b | €716.4m | -€7,622,014.00 | 30.7x | -1008x | 10.7x |
| Sun, 17 Mar 2024 | €7.2b | €715.5m | -€8,672,055.00 | 40.3x | -825.6x | 10x |
| Tue, 13 Feb 2024 | €7.6b | €810.9m | -€166,647,055.00 | 40.1x | -45.5x | 9.3x |
| Thu, 11 Jan 2024 | €7.6b | €912.0m | -€147,482,663.00 | 21.5x | -51.6x | 8.3x |
| Sat, 09 Dec 2023 | €7.5b | €914.8m | -€132,872,941.00 | 30.7x | -56.7x | 8.2x |
| Mon, 06 Nov 2023 | €7.0b | €911.6m | -€119,247,941.00 | 30.7x | -59x | 7.7x |
| Wed, 04 Oct 2023 | €6.8b | €911.7m | -€119,196,004.00 | 30.7x | -57x | 7.4x |
| Fri, 01 Sep 2023 | €7.0b | €911.0m | -€91,572,004.00 | 32.3x | -76x | 7.6x |
| Sun, 30 Jul 2023 | €7.1b | €911.0m | -€91,572,004.00 | 32.3x | -77x | 7.7x |
| Tue, 27 Jun 2023 | €6.7b | €876.1m | €309.1m | 33.8x | 21.6x | 7.6x |
| Thu, 25 May 2023 | €6.6b | €876.9m | €309.6m | 29.9x | 21.4x | 7.6x |
| Sat, 22 Apr 2023 | €6.7b | €856.1m | €305.1m | 20x | 22.1x | 7.9x |
| Mon, 20 Mar 2023 | €6.8b | €837.9m | €298.7m | 23.6x | 22.7x | 8.1x |
| Wed, 15 Feb 2023 | €17.7b | €1.5b | €1.9b | 26x | 9.2x | 11.7x |
| Fri, 13 Jan 2023 | €17.5b | €1.5b | €1.9b | 24.9x | 9.1x | 11.5x |
| Sun, 11 Dec 2022 | €17.2b | €1.6b | €1.9b | 23.7x | 8.8x | 10.9x |
| Tue, 08 Nov 2022 | €16.7b | €1.6b | €1.9b | 23.6x | 8.9x | 10.7x |
| Thu, 06 Oct 2022 | €16.0b | €1.5b | €1.8b | 23.2x | 9x | 10.8x |
| Sat, 03 Sep 2022 | €17.4b | €1.5b | €1.8b | 20.5x | 9.7x | 11.7x |
| Mon, 01 Aug 2022 | €18.3b | €1.5b | €1.7b | 20.5x | 10.5x | 12.4x |
| Wed, 29 Jun 2022 | €18.3b | €1.6b | €1.4b | 23.6x | 12.9x | 11.6x |
| Fri, 27 May 2022 | €19.0b | €1.6b | €1.3b | 23.9x | 14.4x | 12x |
Price to Earnings Ratio
14.4x
Current Industry PE
- Investors are pessimistic on the Spanish REITs 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 14.7x which is higher than its 3-year average PE of -9.3x.
- The 3-year average PS ratio of 10.4x is higher than the industry's current PS ratio of 7.3x.
Past Earnings Growth
- The earnings for companies in the REITs industry have declined 23% per year over the last three years,
- Revenues have also declined 8.4% 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 Spanish Real Estate industry?
| ES Market | 2.99% | |
| Real Estate | 2.04% | |
| REITS | 2.63% | |
| Office REITs | 2.77% | |
| Diversified REITs | 2.63% | |
| Retail REITs | 0.023% | |
| Industrial REITs | 0% | 0 |
| Residential REITs | 0% | 0 |
| Hotel and Resort REITs | -0.22% | |
| Healthcare REITs | -3.08% | |
Industry PE
- Investors are most optimistic about the Residential REITs industry which is trading above its 3-year average PE ratio of 21.4x.
- It looks like they are confident that earnings will grow faster in the future than they have historically.
- Investors are most pessimistic about the Hotel and Resort REITs industry, which is trading below its 3-year average of 28.5x.
Forecasted Growth
- Analysts are most optimistic on the Hotel and Resort REITs industry, expecting annual earnings growth of 28% over the next 5 years.
- In contrast, the Office REITs industry is expected to see its earnings grow by 9.9% 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 | |
|---|---|---|---|---|---|
| MRL MERLIN Properties SOCIMI | €10.66 | 4.3% +€247.5m | 1.0% | PB0.8x | |
| YIBI Ibi Lion Socimi | €1.10 | 1.9% +€1.4m | 3.8% | n/a | |
| YTRM Torimbia Socimi | €23.20 | 0.9% +€1.0m | -10.8% | n/a | |
| YAP67 Ap67 Socimi | €5.60 | 1.8% +€722.5k | 18.6% | PB0.02x | |
| YTRA Trajano Iberia Socimi | €2.56 | 1.6% +€566.4k | -39.0% | PB0.5x |