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Spanish (IBEX) REITS Industry Analysis
UpdatedNov 21, 2024
DataAggregated Company Financials
Companies22
- 7D5.9%
- 3M-3.8%
- 1Y14.6%
- YTD5.6%
Over the last 7 days, the REITS industry has risen 5.9%, driven by gains from MERLIN Properties SOCIMI of 8.8%. This takes the industry's 12 month performance to a gain of 15%. As for the next few years, earnings are expected to grow by 34% 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 |
|---|---|---|---|---|---|---|
| Fri, 22 Nov 2024 | €8.5b | €708.0m | €51.1m | 40.1x | 165.8x | 12x |
| Sun, 20 Oct 2024 | €8.8b | €695.9m | €17.4m | 28.3x | 509x | 12.7x |
| Tue, 17 Sep 2024 | €9.3b | €695.7m | €17.1m | 27.9x | 544.9x | 13.4x |
| Thu, 15 Aug 2024 | €8.8b | €694.7m | €17.1m | 27x | 515.5x | 12.7x |
| Sat, 13 Jul 2024 | €7.9b | €721.5m | -€174,527,436.00 | 22.6x | -45.4x | 11x |
| Mon, 10 Jun 2024 | €8.0b | €726.8m | -€171,214,083.00 | 21.4x | -46.9x | 11x |
| Wed, 08 May 2024 | €7.9b | €719.8m | -€3,685,404.00 | 21x | -2153.7x | 11x |
| Fri, 05 Apr 2024 | €7.4b | €716.4m | -€7,622,014.00 | 31.1x | -975.9x | 10.4x |
| Sun, 03 Mar 2024 | €7.4b | €810.9m | -€166,647,055.00 | 40.1x | -44.3x | 9.1x |
| Tue, 30 Jan 2024 | €7.7b | €913.1m | -€149,906,314.00 | 27.3x | -51.1x | 8.4x |
| Thu, 28 Dec 2023 | €7.8b | €911.4m | -€148,590,941.00 | 30.7x | -52.4x | 8.5x |
| Sat, 25 Nov 2023 | €7.0b | €913.6m | -€134,599,941.00 | 30.7x | -52.4x | 7.7x |
| Mon, 23 Oct 2023 | €6.7b | €911.7m | -€119,196,004.00 | 30.7x | -56x | 7.3x |
| Wed, 20 Sep 2023 | €6.8b | €911.7m | -€119,196,004.00 | 30.7x | -57.3x | 7.5x |
| Fri, 18 Aug 2023 | €6.9b | €911.0m | -€91,572,004.00 | 32.3x | -74.9x | 7.5x |
| Sun, 16 Jul 2023 | €6.9b | €877.2m | €262.4m | 33.8x | 26.4x | 7.9x |
| Tue, 13 Jun 2023 | €6.9b | €876.3m | €308.5m | 32.8x | 22.3x | 7.9x |
| Thu, 11 May 2023 | €6.5b | €864.6m | €292.8m | 29.8x | 22.2x | 7.5x |
| Sat, 08 Apr 2023 | €6.7b | €837.9m | €298.7m | 23.4x | 22.5x | 8x |
| Mon, 06 Mar 2023 | €17.5b | €1.5b | €496.7m | 28.4x | 35.3x | 12.1x |
| Wed, 01 Feb 2023 | €17.5b | €1.5b | €1.9b | 25.6x | 9.1x | 11.5x |
| Fri, 30 Dec 2022 | €17.1b | €1.5b | €1.9b | 23.9x | 9x | 11.5x |
| Sun, 27 Nov 2022 | €17.2b | €1.6b | €1.9b | 22.1x | 8.8x | 10.9x |
| Tue, 25 Oct 2022 | €16.0b | €1.5b | €1.8b | 23.2x | 9x | 10.8x |
| Thu, 22 Sep 2022 | €16.8b | €1.5b | €1.8b | 20.7x | 9.4x | 11.3x |
| Sat, 20 Aug 2022 | €17.8b | €1.5b | €1.8b | 20.5x | 10x | 12x |
| Mon, 18 Jul 2022 | €17.8b | €1.4b | €1.4b | 23.7x | 12.7x | 12.3x |
| Wed, 15 Jun 2022 | €18.1b | €1.6b | €1.4b | 25.9x | 13.2x | 11.4x |
| Fri, 13 May 2022 | €19.0b | €1.6b | €1.3b | 27x | 14.5x | 12.1x |
| Sun, 10 Apr 2022 | €19.4b | €1.5b | €1.3b | 27x | 15.4x | 12.5x |
| Tue, 08 Mar 2022 | €18.0b | €1.5b | €1.3b | 31.2x | 14.4x | 11.9x |
| Thu, 03 Feb 2022 | €18.9b | €1.5b | €584.9m | 30.8x | 32.4x | 12.7x |
| Sat, 01 Jan 2022 | €18.9b | €1.5b | €582.3m | 27x | 32.4x | 12.8x |
| Mon, 29 Nov 2021 | €18.9b | €1.5b | €576.4m | 29.4x | 32.9x | 12.9x |
Price to Earnings Ratio
32.9x
Current Industry PE
- Investors are optimistic on the Spanish REITs industry, and appear confident in long term growth rates.
- The industry is trading at a PE ratio of 166x which is higher than its 3-year average PE of -22.3x.
- The 3-year average PS ratio of 10.5x is lower than the industry's current PS ratio of 12.0x.
Past Earnings Growth
- The earnings for companies in the REITs industry have declined 55% per year over the last three years,
- Revenues have also declined 22% 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 | 1.51% | |
| Real Estate | 2.67% | |
| REITS | 5.90% | |
| Diversified REITs | 5.90% | |
| Office REITs | 4.34% | |
| Hotel and Resort REITs | 1.74% | |
| Industrial REITs | 0% | |
| Specialized REITs | 0% | |
| Healthcare REITs | 0% | |
| Residential REITs | -0.088% | |
| Retail REITs | -0.095% | |
Industry PE
- Investors are most optimistic about the Diversified REITs industry which is trading above its 3-year average PE ratio.
- Analysts are expecting annual earnings growth of 33.7%, which is higher than its past year's earnings growth of 13.3% per year.
Forecasted Growth
- Analysts are most optimistic on the Hotel and Resort REITs industry, expecting annual earnings growth of 61% over the next 5 years.
- This is roughly in line with its past earnings growth rate.
- In contrast, the Residential REITs industry is expected to see its earnings grow by 9.7% 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 | €10.11 | 3.7% +€205.3m | 14.6% | PB0.8x | |
| YGOP Gop Properties Socimi | €15.70 | 3.3% +€3.1m | 3.3% | PB0.8x | |
| YHSP Hispanotels Inversiones Socimi | €6.80 | 2.3% +€1.7m | 20.4% | PB1.4x | |
| YVIT Vitruvio Real Estate SOCIMI | €14.30 | 0.7% +€918.8k | 6.7% | PB1.2x |