The Market Lifts Winton Land Limited (NZSE:WIN) Shares 25% But It Can Do More
Oct 15
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New Zealand (NZX) Real Estate Sector Analysis
UpdatedDec 21, 2024
DataAggregated Company Financials
Companies12
- 7D-0.03%
- 3M-3.9%
- 1Y-7.0%
- YTD-8.5%
In the last week, Real Estate has been flat. As for the longer term, the industry has declined 7.0% in the last year. As for the next few years, earnings are expected to grow by 42% per annum.
Sector Valuation and Performance
Has the New Zealand Real Estate Sector valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Sat, 21 Dec 2024 | NZ$11.8b | NZ$1.6b | -NZ$391,846,000.00 | 36.2x | -30x | 7.2x |
| Mon, 18 Nov 2024 | NZ$12.3b | NZ$1.6b | -NZ$599,957,000.00 | 29.9x | -20.6x | 7.7x |
| Wed, 16 Oct 2024 | NZ$12.6b | NZ$1.6b | -NZ$878,950,000.00 | 20.4x | -14.4x | 8x |
| Fri, 13 Sep 2024 | NZ$12.5b | NZ$1.6b | -NZ$878,950,000.00 | 19.6x | -14.2x | 7.9x |
| Sun, 11 Aug 2024 | NZ$12.0b | NZ$1.6b | -NZ$1,030,300,000.00 | 14.5x | -11.7x | 7.6x |
| Tue, 09 Jul 2024 | NZ$11.4b | NZ$1.6b | -NZ$1,149,480,000.00 | 14x | -9.9x | 7.2x |
| Thu, 06 Jun 2024 | NZ$11.9b | NZ$1.6b | -NZ$924,280,000.00 | 15.2x | -12.9x | 7.5x |
| Sat, 04 May 2024 | NZ$12.3b | NZ$1.5b | -NZ$1,289,591,000.00 | 16x | -9.5x | 8x |
| Mon, 01 Apr 2024 | NZ$12.7b | NZ$1.5b | -NZ$1,289,591,000.00 | 16.9x | -9.9x | 8.3x |
| Wed, 28 Feb 2024 | NZ$12.1b | NZ$1.5b | -NZ$1,294,543,000.00 | 17.2x | -9.3x | 7.9x |
| Fri, 26 Jan 2024 | NZ$12.3b | NZ$1.5b | -NZ$1,253,498,000.00 | 14.8x | -9.8x | 8x |
| Sun, 24 Dec 2023 | NZ$12.4b | NZ$1.5b | -NZ$1,253,498,000.00 | 14.2x | -9.9x | 8.1x |
| Tue, 21 Nov 2023 | NZ$11.8b | NZ$1.5b | -NZ$1,130,820,000.00 | 14x | -10.4x | 7.7x |
| Thu, 19 Oct 2023 | NZ$11.9b | NZ$1.5b | -NZ$1,043,221,000.00 | 13.1x | -11.4x | 7.8x |
| Sat, 16 Sep 2023 | NZ$11.9b | NZ$1.5b | -NZ$1,043,221,000.00 | 12.9x | -11.4x | 7.8x |
| Mon, 14 Aug 2023 | NZ$12.9b | NZ$1.5b | -NZ$735,643,000.00 | 13.9x | -17.6x | 8.6x |
| Wed, 12 Jul 2023 | NZ$12.7b | NZ$1.5b | -NZ$514,260,000.00 | 11.8x | -24.8x | 8.3x |
| Fri, 09 Jun 2023 | NZ$12.3b | NZ$1.5b | -NZ$500,502,000.00 | 20.6x | -24.5x | 7.9x |
| Sun, 07 May 2023 | NZ$12.2b | NZ$1.6b | NZ$576.8m | 12.8x | 21.1x | 7.8x |
| Tue, 04 Apr 2023 | NZ$12.4b | NZ$1.6b | NZ$576.8m | 12.9x | 21.5x | 7.9x |
| Thu, 02 Mar 2023 | NZ$12.6b | NZ$1.6b | NZ$605.9m | 12.9x | 20.8x | 8x |
| Sat, 28 Jan 2023 | NZ$12.4b | NZ$1.5b | NZ$1.0b | 10.3x | 11.9x | 8.2x |
| Mon, 26 Dec 2022 | NZ$12.2b | NZ$1.5b | NZ$1.0b | 10.3x | 11.8x | 8.1x |
| Wed, 23 Nov 2022 | NZ$12.6b | NZ$1.5b | NZ$1.6b | 7.4x | 8.1x | 8.2x |
| Fri, 21 Oct 2022 | NZ$12.1b | NZ$1.5b | NZ$2.2b | 5.9x | 5.6x | 8x |
| Sun, 18 Sep 2022 | NZ$13.8b | NZ$1.5b | NZ$2.2b | 6.5x | 6.4x | 9x |
| Tue, 16 Aug 2022 | NZ$14.2b | NZ$1.5b | NZ$2.4b | 6.7x | 6x | 9.5x |
| Thu, 14 Jul 2022 | NZ$13.5b | NZ$1.5b | NZ$2.4b | 6.2x | 5.5x | 9x |
| Sat, 11 Jun 2022 | NZ$13.6b | NZ$1.5b | NZ$2.4b | 6x | 5.6x | 9.1x |
| Mon, 09 May 2022 | NZ$14.2b | NZ$1.5b | NZ$2.8b | 5.5x | 5.1x | 9.5x |
| Wed, 06 Apr 2022 | NZ$15.1b | NZ$1.5b | NZ$2.8b | 5.7x | 5.4x | 10.1x |
| Fri, 04 Mar 2022 | NZ$15.1b | NZ$1.5b | NZ$2.8b | 5.7x | 5.4x | 10.1x |
| Sun, 30 Jan 2022 | NZ$15.3b | NZ$1.3b | NZ$2.7b | 13.4x | 5.7x | 12.2x |
| Tue, 28 Dec 2021 | NZ$15.7b | NZ$1.3b | NZ$2.7b | 6.1x | 5.8x | 12.5x |
Price to Earnings Ratio
5.8x
Current Industry PE
- Investors are pessimistic on the New Zealander Real Estate industry, indicating that they anticipate long term growth rates will be lower than they have historically.
- The 3-year average PS ratio of 8.4x is higher than the industry's current PS ratio of 7.2x.
Past Earnings Growth
- Total earnings for the Real Estate industry have declined over the last three years, with the industry now making a loss overall.
- Meanwhile revenues 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 New Zealand Real Estate sector?
| NZ Market | 1.15% | |
| Real Estate | -0.028% | |
| Health Care REITs | 2.51% | |
| Retail REITs | 1.67% | |
| Real Estate | 1.30% | |
| Specialized REITs | 0.56% | |
| Residential REITs | 0% | |
| Hotel and Resort REITs | 0% | |
| Industrial REITs | -0.019% | |
| Office REITs | -1.61% | |
| REITS | -2.47% | |
Industry PE
- Investors are most optimistic about the REITS industry which is trading above its 3-year average PE ratio of 1.6x.
- Analysts are expecting annual earnings growth of 26.9% and investors are willing to pay a premium for that growth.
Forecasted Growth
- Analysts are most optimistic on the Health Care REITs industry, expecting annual earnings growth of 90% over the next 5 years.
- In contrast, the Specialized REITs industry is expected to see its earnings decline by 7.7% 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 | |
|---|---|---|---|---|---|
| VHP Vital Healthcare Property Trust | NZ$1.84 | 2.5% +NZ$30.4m | -15.2% | PB0.7x | |
| KPG Kiwi Property Group | NZ$0.93 | 1.6% +NZ$24.1m | 6.3% | PB0.8x | |
| PFI Property For Industry | NZ$2.18 | 1.4% +NZ$15.1m | -3.1% | PB0.8x | |
| IPL Investore Property | NZ$1.16 | 1.8% +NZ$7.5m | 1.8% | PB0.7x | |
| CDI CDL Investments New Zealand | NZ$0.81 | 3.2% +NZ$7.3m | 8.8% | PE21x |