There's No Escaping Ari Real Estate (Arena) Investment Ltd's (TLV:ARIN) Muted Earnings Despite A 27% Share Price Rise
Nov 20
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Israeli (TA) Real Estate Sector Analysis
UpdatedNov 20, 2025
DataAggregated Company Financials
Companies79
- 7D-3.0%
- 3M7.3%
- 1Y25.3%
- YTD17.4%
Over the last 7 days, the Real Estate industry has dropped 3.0%, driven by Azrieli Group declining 3.3%. On the other hand Ari Real Estate (Arena) Investment is actually up 8.0%. In the past year, the industry has gained 25%. Earnings are forecast to grow by 37% annually.
Sector Valuation and Performance
Has the Israeli Real Estate Sector valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Thu, 20 Nov 2025 | ₪249.8b | ₪47.8b | ₪17.5b | 13.8x | 14.3x | 5.2x |
| Sat, 18 Oct 2025 | ₪255.7b | ₪47.9b | ₪17.6b | 13.7x | 14.5x | 5.3x |
| Mon, 15 Sep 2025 | ₪231.9b | ₪47.4b | ₪17.2b | 13.1x | 13.5x | 4.9x |
| Wed, 13 Aug 2025 | ₪221.6b | ₪46.6b | ₪15.6b | 12.9x | 14.2x | 4.8x |
| Fri, 11 Jul 2025 | ₪238.8b | ₪45.5b | ₪15.0b | 14.3x | 15.9x | 5.2x |
| Sun, 08 Jun 2025 | ₪193.8b | ₪45.4b | ₪15.0b | 12x | 13x | 4.3x |
| Tue, 06 May 2025 | ₪190.7b | ₪44.2b | ₪14.1b | 12.6x | 13.5x | 4.3x |
| Thu, 03 Apr 2025 | ₪186.8b | ₪43.9b | ₪13.7b | 12.4x | 13.6x | 4.3x |
| Sat, 01 Mar 2025 | ₪201.9b | ₪42.9b | ₪10.0b | 15x | 20.1x | 4.7x |
| Mon, 27 Jan 2025 | ₪210.2b | ₪43.0b | ₪9.8b | 16.2x | 21.4x | 4.9x |
| Wed, 25 Dec 2024 | ₪205.1b | ₪42.9b | ₪9.6b | 16.6x | 21.3x | 4.8x |
| Fri, 22 Nov 2024 | ₪192.0b | ₪41.0b | ₪8.4b | 14.6x | 22.8x | 4.7x |
| Sun, 20 Oct 2024 | ₪175.0b | ₪39.9b | ₪6.9b | 12.8x | 25.2x | 4.4x |
| Tue, 17 Sep 2024 | ₪165.5b | ₪39.9b | ₪6.9b | 12.3x | 23.9x | 4.1x |
| Thu, 15 Aug 2024 | ₪163.0b | ₪38.8b | ₪5.7b | 12.5x | 28.8x | 4.2x |
| Sat, 13 Jul 2024 | ₪167.0b | ₪38.7b | ₪5.8b | 12.9x | 28.6x | 4.3x |
| Mon, 10 Jun 2024 | ₪150.8b | ₪39.0b | ₪5.8b | 11.2x | 25.8x | 3.9x |
| Wed, 08 May 2024 | ₪164.5b | ₪38.7b | ₪4.6b | 11.8x | 35.8x | 4.2x |
| Fri, 05 Apr 2024 | ₪163.2b | ₪38.9b | ₪3.3b | 11.9x | 49.1x | 4.2x |
| Sun, 03 Mar 2024 | ₪168.4b | ₪37.1b | ₪3.3b | 9.9x | 51.8x | 4.5x |
| Tue, 30 Jan 2024 | ₪163.8b | ₪37.4b | ₪3.7b | 9.5x | 44.8x | 4.4x |
| Thu, 28 Dec 2023 | ₪162.4b | ₪37.6b | ₪4.1b | 9.3x | 39.6x | 4.3x |
| Sat, 25 Nov 2023 | ₪147.5b | ₪37.8b | ₪5.0b | 8.8x | 29.6x | 3.9x |
| Mon, 23 Oct 2023 | ₪125.5b | ₪37.9b | ₪6.4b | 7.6x | 19.7x | 3.3x |
| Wed, 20 Sep 2023 | ₪146.1b | ₪37.9b | ₪6.5b | 8.4x | 22.6x | 3.9x |
| Fri, 18 Aug 2023 | ₪147.1b | ₪38.4b | ₪8.6b | 8.1x | 17.1x | 3.8x |
| Sun, 16 Jul 2023 | ₪154.1b | ₪38.3b | ₪11.0b | 7.2x | 14.1x | 4x |
| Tue, 13 Jun 2023 | ₪151.5b | ₪38.9b | ₪12.4b | 7.4x | 12.2x | 3.9x |
| Thu, 11 May 2023 | ₪148.9b | ₪38.1b | ₪14.6b | 6.9x | 10.2x | 3.9x |
| Sat, 08 Apr 2023 | ₪141.4b | ₪37.5b | ₪15.2b | 6.3x | 9.3x | 3.8x |
| Mon, 06 Mar 2023 | ₪140.2b | ₪38.2b | ₪24.3b | 5.6x | 5.8x | 3.7x |
| Wed, 01 Feb 2023 | ₪156.8b | ₪37.9b | ₪24.9b | 5.5x | 6.3x | 4.1x |
| Fri, 30 Dec 2022 | ₪157.3b | ₪37.9b | ₪24.8b | 5.3x | 6.3x | 4.2x |
| Sun, 27 Nov 2022 | ₪169.7b | ₪37.0b | ₪26.2b | 6x | 6.5x | 4.6x |
Price to Earnings Ratio
6.5x
Current Industry PE
- Investors are pessimistic on the Israeli 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 14.5x which is lower than its 3-year average PE of 21.1x.
- The 3-year average PS ratio of 4.3x is lower than the industry's current PS ratio of 5.3x.
Past Earnings Growth
- The earnings for companies in the Real Estate industry have declined 13% per year over the last three years.
- Meanwhile revenues for these companies have grown 9.0% 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 Israeli Real Estate sector?
| IL Market | -1.08% | |
| Real Estate | -2.96% | |
| REITS | -2.25% | |
| Real Estate | -2.99% | |
| Residential REITs | -3.20% | |
Industry PE
- Investors are most optimistic about the Residential REITs industry which is trading above its 3-year average PE ratio of 14.7x.
- It looks like they are confident that earnings will grow faster in the future than they have historically.
- Investors are most pessimistic about the REITS industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 8.7x.
Forecasted Growth
- Analysts are most optimistic on the Real Estate industry, expecting annual earnings growth of 37% over the next 5 years.
- This is roughly in line with its past earnings growth rate.
- In contrast, the Real Estate industry is expected to see its earnings grow by 37% 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 | |
|---|---|---|---|---|---|
| NSTR Norstar Holdings | ₪9.51 | 11.3% +₪60.1m | -32.9% | PS0.2x | |
| ARIN Ari Real Estate (Arena) Investment | ₪3.74 | 4.5% +₪51.5m | 87.7% | PE11.6x | |
| IES I.E.S Holdings | ₪336.00 | 0.9% +₪17.1m | 44.1% | PE10.4x | |
| YAAZ Yaaz Entrepreneurship and Urban Renewal | ₪10.13 | 8.6% +₪17.0m | n/a | n/a | |
| AVIV Mordechai Aviv Taasiot Beniyah (1973) | ₪21.35 | 0.5% +₪1.5m | 11.5% | PE12.9x |
