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New Zealand (NZX) REITS Industry Analysis

UpdatedMay 09, 2025
DataAggregated Company Financials
Companies3
  • 7D1.7%
  • 3M-3.6%
  • 1Y-6.2%
  • YTD-3.3%

In the last week, the REITS industry is up 1.7%, with Argosy Property up 4.0%. In contrast, the industry has lost 6.2% in the last 12 months. Looking forward, earnings are forecast to grow by 19% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 10 May 2025NZ$1.6bNZ$277.0mNZ$11.6m44.7x138.9x5.8x
Mon, 07 Apr 2025NZ$1.6bNZ$277.0mNZ$11.6m44.4x136.1x5.7x
Wed, 05 Mar 2025NZ$1.7bNZ$277.0mNZ$11.6m48.2x141.8x6x
Fri, 31 Jan 2025NZ$1.7bNZ$277.0mNZ$11.6m49.1x142.4x6x
Sun, 29 Dec 2024NZ$1.7bNZ$277.0mNZ$11.6m50.9x146.9x6.2x
Tue, 26 Nov 2024NZ$1.8bNZ$257.8m-NZ$64,379,000.00n/a-27.7x6.9x
Thu, 24 Oct 2024NZ$1.8bNZ$255.9m-NZ$116,696,000.00n/a-15.4x7x
Sat, 21 Sep 2024NZ$1.7bNZ$255.9m-NZ$116,696,000.00n/a-14.9x6.8x
Mon, 19 Aug 2024NZ$1.8bNZ$255.9m-NZ$116,696,000.00n/a-15.5x7.1x
Wed, 17 Jul 2024NZ$1.7bNZ$255.9m-NZ$116,696,000.00n/a-14.2x6.5x
Fri, 14 Jun 2024NZ$1.7bNZ$255.9m-NZ$116,696,000.00n/a-14.7x6.7x
Sun, 12 May 2024NZ$1.7bNZ$226.1m-NZ$243,538,000.00n/a-7x7.6x
Tue, 09 Apr 2024NZ$1.8bNZ$226.1m-NZ$243,538,000.00n/a-7.5x8x
Thu, 07 Mar 2024NZ$1.7bNZ$226.1m-NZ$243,538,000.00n/a-7.1x7.6x
Sat, 03 Feb 2024NZ$1.8bNZ$226.1m-NZ$243,538,000.00n/a-7.5x8.1x
Mon, 01 Jan 2024NZ$1.8bNZ$226.1m-NZ$243,538,000.00n/a-7.5x8.1x
Wed, 29 Nov 2023NZ$1.8bNZ$226.4m-NZ$210,629,000.00n/a-8.4x7.8x
Fri, 27 Oct 2023NZ$1.7bNZ$226.4m-NZ$210,629,000.00n/a-8x7.4x
Sun, 24 Sep 2023NZ$1.8bNZ$226.4m-NZ$210,629,000.00n/a-8.3x7.7x
Tue, 22 Aug 2023NZ$1.9bNZ$226.4m-NZ$210,629,000.00n/a-8.9x8.3x
Thu, 20 Jul 2023NZ$1.9bNZ$226.4m-NZ$210,629,000.00n/a-8.8x8.2x
Sat, 17 Jun 2023NZ$1.8bNZ$226.4m-NZ$210,629,000.00n/a-8.5x7.9x
Mon, 15 May 2023NZ$1.7bNZ$281.7mNZ$118.2m67.8x14.6x6.1x
Wed, 12 Apr 2023NZ$1.8bNZ$281.7mNZ$118.2m67.9x14.9x6.3x
Fri, 10 Mar 2023NZ$11.4bNZ$1.3bNZ$470.2m15.6x24.3x8.8x
Sun, 05 Feb 2023NZ$11.8bNZ$1.3bNZ$934.7m12.8x12.6x9.3x
Tue, 03 Jan 2023NZ$11.3bNZ$1.3bNZ$934.7m12.1x12.1x8.9x
Thu, 01 Dec 2022NZ$11.4bNZ$1.3bNZ$1.2b10.3x9.3x9x
Sat, 29 Oct 2022NZ$11.4bNZ$1.3bNZ$2.1b6.1x5.5x8.9x
Mon, 26 Sep 2022NZ$12.3bNZ$1.3bNZ$2.1b6.3x6x9.6x
Wed, 24 Aug 2022NZ$12.9bNZ$1.3bNZ$2.3b5.9x5.6x10.1x
Fri, 22 Jul 2022NZ$12.5bNZ$1.3bNZ$2.3b5.1x5.3x9.8x
Sun, 19 Jun 2022NZ$11.8bNZ$1.3bNZ$2.3b4.6x5x9.3x
Tue, 17 May 2022NZ$12.2bNZ$1.3bNZ$2.7b5x4.5x9.6x
Price to Earnings Ratio

4.5x


Total Market Cap: NZ$12.2bTotal Earnings: NZ$2.7bTotal Revenue: NZ$1.3bTotal Market Cap vs Earnings and Revenue0%0%0%
New Zealand REITS Industry Price to Earnings3Y Average 18.7x202320242025
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 84% per year over the last three years,
  • Revenues have also declined 40% 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 Market2.69%
Real Estate4.68%
REITS1.67%
Healthcare REITs8.57%
Office REITs8.26%
Industrial REITs4.86%
Retail REITs3.09%
Specialized REITs2.22%
Diversified REITs1.67%
Industry PE
  • Investors are most optimistic about the Diversified REITs industry which is trading above its 3-year average PE ratio of 18.7x.
    • Analysts are expecting annual earnings growth of 19.2% and investors are willing to pay a premium for that growth.
Forecasted Growth
  • Analysts are most optimistic on the Office REITs industry, expecting annual earnings growth of 65% over the next 5 years.
  • In contrast, the Specialized REITs industry is expected to see its earnings decline by 14% 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
ARG Argosy PropertyNZ$1.054.0%
+NZ$34.3m		-6.3%PB0.7x
SPG Stride Property GroupNZ$1.162.7%
+NZ$16.8m		-5.7%PB0.7x
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Latest News

ARG

NZ$1.05

Argosy Property

7D

4.0%

1Y

-6.3%

APL

NZ$0.19

Asset Plus

7D

-0.5%

1Y

-11.0%

SPG

NZ$1.16

Stride Property Group

7D

2.7%

1Y

-5.7%