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Norwegian (OSEAX) Real Estate Sector Analysis

UpdatedMay 11, 2026
DataAggregated Company Financials
Companies8
  • 7D-3.0%
  • 3M-12.9%
  • 1Y-1.6%
  • YTD-10.0%

Over the last 7 days, the Real Estate industry has dropped 3.0%, driven by a pullback from Public Property Invest of 4.1%. In contrast, BEWI Invest has gained 9.7%. Over the last year, the industry has been flat overall. Earnings are forecast to grow by 19% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 12 May 2026NOK 72.0bNOK 21.6bNOK 5.0b9.4x14.5x3.3x
Thu, 09 Apr 2026NOK 65.9bNOK 11.3bNOK 5.7b9x11.6x5.8x
Sat, 07 Mar 2026NOK 76.0bNOK 10.7bNOK 5.6b8.9x13.6x7.1x
Mon, 02 Feb 2026NOK 103.0bNOK 14.5bNOK 6.2b16.7x16.7x7.1x
Wed, 31 Dec 2025NOK 102.3bNOK 14.5bNOK 6.2b16x16.6x7.1x
Fri, 28 Nov 2025NOK 99.1bNOK 14.1bNOK 6.0b17.3x16.4x7x
Sun, 26 Oct 2025NOK 87.8bNOK 13.6bNOK 5.7b15.2x15.4x6.5x
Tue, 23 Sep 2025NOK 88.2bNOK 13.6bNOK 5.6b17.5x15.8x6.5x
Thu, 21 Aug 2025NOK 93.3bNOK 14.0bNOK 5.6b18.1x16.6x6.6x
Sat, 19 Jul 2025NOK 94.9bNOK 14.6bNOK 6.5b18.3x14.5x6.5x
Mon, 16 Jun 2025NOK 87.2bNOK 14.5bNOK 5.8b18.4x15x6x
Wed, 14 May 2025NOK 84.3bNOK 15.0bNOK 5.5b18.8x15.4x5.6x
Fri, 11 Apr 2025NOK 80.4bNOK 15.0bNOK 4.2b15.8x19x5.4x
Sun, 09 Mar 2025NOK 81.2bNOK 15.2bNOK 3.4b16.2x24x5.3x
Tue, 04 Feb 2025NOK 77.7bNOK 15.0b-NOK 3,863,855,427.9613.6x-20.1x5.2x
Thu, 02 Jan 2025NOK 76.2bNOK 15.0b-NOK 3,863,873,742.0614.1x-19.7x5.1x
Sat, 30 Nov 2024NOK 76.3bNOK 15.2b-NOK 3,569,675,985.1516.3x-21.4x5x
Mon, 28 Oct 2024NOK 79.7bNOK 15.3b-NOK 4,856,710,890.2935.1x-16.4x5.2x
Wed, 25 Sep 2024NOK 81.0bNOK 15.4b-NOK 6,960,173,573.2737.5x-11.6x5.3x
Fri, 23 Aug 2024NOK 79.9bNOK 14.9b-NOK 6,948,097,371.6830.6x-11.5x5.4x
Sun, 21 Jul 2024NOK 78.8bNOK 15.5b-NOK 6,956,077,050.5425.1x-11.3x5.1x
Tue, 18 Jun 2024NOK 75.8bNOK 15.4b-NOK 8,141,377,148.8514.6x-9.3x4.9x
Thu, 16 May 2024NOK 76.1bNOK 15.1b-NOK 8,609,025,249.8736.4x-8.8x5.1x
Sat, 13 Apr 2024NOK 71.8bNOK 14.5b-NOK 7,034,531,214.2229.7x-10.2x5x
Mon, 11 Mar 2024NOK 70.3bNOK 14.5b-NOK 7,039,929,781.4931.3x-10x4.9x
Wed, 07 Feb 2024NOK 69.9bNOK 14.8b-NOK 3,203,997,269.3715.8x-21.8x4.7x
Fri, 05 Jan 2024NOK 67.7bNOK 14.8b-NOK 3,203,950,963.0016x-21.1x4.6x
Sun, 03 Dec 2023NOK 60.8bNOK 15.0b-NOK 3,176,490,516.0013.9x-19.1x4.1x
Tue, 31 Oct 2023NOK 55.4bNOK 15.8b-NOK 2,172,986,653.0010.3x-25.5x3.5x
Thu, 28 Sep 2023NOK 58.5bNOK 15.8b-NOK 3,047,057,560.0012.3x-19.2x3.7x
Sat, 26 Aug 2023NOK 61.1bNOK 16.8b-NOK 3,024,354,085.0012.3x-20.2x3.6x
Mon, 24 Jul 2023NOK 60.9bNOK 16.2b-NOK 1,690,470,885.0010.5x-36x3.8x
Wed, 21 Jun 2023NOK 61.3bNOK 16.1b-NOK 690,154,453.0011.1x-88.8x3.8x
Fri, 19 May 2023NOK 64.1bNOK 16.5bNOK 1.2b9.5x51.2x3.9x
Price to Earnings Ratio

51.2x


Total Market Cap: NOK 64.1bTotal Earnings: NOK 1.2bTotal Revenue: NOK 16.5bTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Real Estate Sector Price to Earnings3Y Average -6x202420252026
Current Industry PE
  • Investors are pessimistic on the Norwegian 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 higher than its 3-year average PE of -6.0x.
  • The 3-year average PS ratio of 5.3x is higher than the industry's current PS ratio of 3.3x.
Past Earnings Growth
  • The earnings for companies in the Real Estate industry have grown 52% per year over the last three years.
  • Revenues for these companies have grown 9.6% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

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

NO Market-2.98%
Real Estate-3.01%
Real Estate-3.01%
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 growth of 19.2%, which is lower than the prior year's growth of 61.8% per year.
  • Investors are most pessimistic about the Real Estate industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average.
Forecasted Growth
  • Analysts are most optimistic on the Real Estate industry, expecting annual earnings growth of 19% over the next 5 years.
  • However this is lower than its past earnings growth rate of 62% per year.
  • In contrast, the Real Estate industry is expected to see its earnings grow by 19% 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
BINT BEWI InvestNOK 27.109.7%
+NOK 247.7m		-35.2%PS0.3x
ENTRA EntraNOK 105.201.0%
+NOK 182.1m		-14.7%PE16.9x
BALT Baltic Sea PropertiesNOK 49.806.9%
+NOK 27.7m		1.6%PE9.4x
ROM RomRealNOK 2.904.3%
+NOK 4.8m		20.9%PE6.8x

Latest News

PUBLI
NOK 18.02
Public Property Invest
7D
-4.1%
1Y
-5.6%
BALT
NOK 49.80
Baltic Sea Properties
7D
6.9%
1Y
1.6%
ENTRA
NOK 105.20
Entra
7D
1.0%
1Y
-14.7%
Narrative Update • Apr 30

ENTRA: Nordea Downgrade And Leasing Pipeline Will Shape A Balanced Outlook

Analysts have nudged their price target on Entra slightly lower to NOK112.00 from NOK112.67, reflecting updated views on modestly higher projected revenue growth, a slightly stronger profit margin, and a small adjustment to expected future P/E levels following recent Street research, including a downgrade from Nordea. Analyst Commentary Recent research has prompted a modest cut to the price target, even as projections now reflect slightly stronger revenue growth and profit margins.
BINT
NOK 27.10
BEWI Invest
7D
9.7%
1Y
-35.2%
SBO
NOK 32.15
Selvaag Bolig
7D
-4.5%
1Y
-10.3%
ROM
NOK 2.90
RomReal
7D
4.3%
1Y
20.9%