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New Zealand (NZX) REITS Industry Analysis

UpdatedNov 14, 2025
DataAggregated Company Financials
Companies3
  • 7D-3.9%
  • 3M6.8%
  • 1Y7.6%
  • YTD13.8%

Over the last 7 days, the REITS industry has dropped 2.9%, driven by pullbacks from every company within the industry. Over the past 12 months, the industry was up 9.5%. Looking forward, earnings are forecast to grow by 6.3% annually.

Industry Valuation and Performance

Has the New Zealand REITS Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 16 Nov 2025NZ$1.9bNZ$301.1mNZ$141.8m22.6x13.6x6.4x
Tue, 14 Oct 2025NZ$2.0bNZ$301.1mNZ$141.8m23.5x14.2x6.7x
Thu, 11 Sep 2025NZ$1.8bNZ$301.1mNZ$141.8m20.8x13x6.1x
Sat, 09 Aug 2025NZ$1.7bNZ$301.1mNZ$141.8m19.8x12.3x5.8x
Mon, 07 Jul 2025NZ$1.7bNZ$301.1mNZ$141.8m18.9x11.8x5.6x
Wed, 04 Jun 2025NZ$1.6bNZ$301.1mNZ$141.8m17.9x11x5.2x
Fri, 02 May 2025NZ$1.6bNZ$277.0mNZ$11.6m44.7x136.5x5.7x
Sun, 30 Mar 2025NZ$1.6bNZ$277.0mNZ$11.6m44.8x133.2x5.6x
Tue, 25 Feb 2025NZ$1.6bNZ$277.0mNZ$11.6m48.1x138.7x5.8x
Thu, 23 Jan 2025NZ$1.7bNZ$277.0mNZ$11.6m49.6x142.5x6x
Sat, 21 Dec 2024NZ$1.7bNZ$277.0mNZ$11.6m49.7x142.5x6x
Mon, 18 Nov 2024NZ$1.8bNZ$255.9m-NZ$116,696,000.00n/a-15.1x6.9x
Wed, 16 Oct 2024NZ$1.8bNZ$255.9m-NZ$116,696,000.00n/a-15.4x7x
Fri, 13 Sep 2024NZ$1.8bNZ$255.9m-NZ$116,696,000.00n/a-15.8x7.2x
Sun, 11 Aug 2024NZ$1.7bNZ$255.9m-NZ$116,696,000.00n/a-14.7x6.7x
Tue, 09 Jul 2024NZ$1.6bNZ$255.9m-NZ$116,696,000.00n/a-13.7x6.3x
Thu, 06 Jun 2024NZ$1.7bNZ$279.6m-NZ$116,696,000.00n/a-14.4x6x
Sat, 04 May 2024NZ$1.7bNZ$226.1m-NZ$243,538,000.00n/a-7.1x7.7x
Mon, 01 Apr 2024NZ$1.8bNZ$226.1m-NZ$243,538,000.00n/a-7.3x7.9x
Wed, 28 Feb 2024NZ$1.8bNZ$226.1m-NZ$243,538,000.00n/a-7.3x7.8x
Fri, 26 Jan 2024NZ$1.8bNZ$226.1m-NZ$243,538,000.00n/a-7.5x8.1x
Sun, 24 Dec 2023NZ$1.8bNZ$226.1m-NZ$243,538,000.00n/a-7.4x8x
Tue, 21 Nov 2023NZ$1.8bNZ$226.4m-NZ$210,629,000.00n/a-8.3x7.7x
Thu, 19 Oct 2023NZ$1.8bNZ$226.4m-NZ$210,629,000.00n/a-8.5x7.9x
Sat, 16 Sep 2023NZ$1.7bNZ$226.4m-NZ$210,629,000.00n/a-8.2x7.6x
Mon, 14 Aug 2023NZ$1.9bNZ$226.4m-NZ$210,629,000.00n/a-9.1x8.5x
Wed, 12 Jul 2023NZ$1.9bNZ$226.4m-NZ$210,629,000.00n/a-9x8.3x
Fri, 09 Jun 2023NZ$1.7bNZ$229.8m-NZ$196,871,000.00130.5x-8.9x7.6x
Sun, 07 May 2023NZ$1.7bNZ$281.7mNZ$118.2m66.5x14.5x6.1x
Tue, 04 Apr 2023NZ$1.8bNZ$281.7mNZ$118.2m66.6x14.8x6.2x
Thu, 02 Mar 2023NZ$11.7bNZ$1.3bNZ$470.2m16x24.8x9x
Sat, 28 Jan 2023NZ$11.5bNZ$1.3bNZ$934.7m12.3x12.3x9.1x
Mon, 26 Dec 2022NZ$11.4bNZ$1.3bNZ$934.7m12.3x12.2x9x
Wed, 23 Nov 2022NZ$11.6bNZ$1.3bNZ$1.5b7.8x8x8.9x
Price to Earnings Ratio

8x


Total Market Cap: NZ$11.6bTotal Earnings: NZ$1.5bTotal Revenue: NZ$1.3bTotal Market Cap vs Earnings and Revenue0%0%0%
New Zealand REITS Industry Price to Earnings3Y Average 21.3x202320242025
Current Industry PE
    There are only 3 companies in the New Zealander REITs industry, so there is insufficient data to make an industry-wide assessment of both the PE and PS ratio.
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 39% 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 New Zealand Real Estate industry?

NZ Market-0.70%
Real Estate-3.23%
REITS-3.90%
Office REITs-0.81%
Industrial REITs-1.60%
Retail REITs-2.36%
Specialized REITs-3.15%
Diversified REITs-3.90%
Healthcare REITs-11.47%
Industry PE
  • Investors are most optimistic about the Office REITs industry which is trading above its 3-year average PE ratio.
    • Analysts are expecting annual earnings growth of 23.6% and investors are willing to pay a premium for that growth.
Forecasted Growth
  • Analysts are most optimistic on the Healthcare REITs industry, expecting annual earnings growth of 35% over the next 5 years.
  • In contrast, the Specialized REITs industry is expected to see its earnings decline by 8.4% 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
No data available

Latest News

SPG
NZ$1.38
Stride Property Group
7D
-5.5%
1Y
5.3%
ARG
NZ$1.23
Argosy Property
7D
-2.4%
1Y
10.8%

ARG: Fair Outlook Will Persist As Financial Metrics Remain Stable

Analysts have reaffirmed their price target for Argosy Property at $1.24 per share. They are maintaining their outlook because updated assumptions on discount rates and earnings expectations yielded minimal impact on valuation.
APL
NZ$0.21
Asset Plus
7D
-8.7%
1Y
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