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New Zealand (NZX) REITS Industry Analysis

UpdatedMay 11, 2026
DataAggregated Company Financials
Companies3
  • 7D-0.7%
  • 3M-8.4%
  • 1Y0.3%
  • YTD-14.4%

In the last week, REITS has been flat. In line with that, the industry has also been flat over the past 12 months. As for the next few years, earnings are expected to grow by 1.4% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 11 May 2026NZ$1.6bNZ$312.0mNZ$193.3m10x8.5x5.3x
Wed, 08 Apr 2026NZ$1.6bNZ$312.0mNZ$193.3m9.9x8.5x5.3x
Fri, 06 Mar 2026NZ$1.7bNZ$312.0mNZ$193.3m10.5x8.9x5.5x
Sun, 01 Feb 2026NZ$1.8bNZ$312.0mNZ$193.3m11x9.3x5.8x
Tue, 30 Dec 2025NZ$1.9bNZ$312.0mNZ$193.3m11.8x9.9x6.1x
Thu, 27 Nov 2025NZ$2.0bNZ$300.8mNZ$193.3m12.2x10.2x6.6x
Sat, 25 Oct 2025NZ$2.0bNZ$301.1mNZ$141.8m23.1x14x6.6x
Mon, 22 Sep 2025NZ$1.9bNZ$301.1mNZ$141.8m21.4x13.2x6.2x
Wed, 20 Aug 2025NZ$1.8bNZ$301.1mNZ$141.8m20.2x12.5x5.9x
Fri, 18 Jul 2025NZ$1.7bNZ$301.1mNZ$141.8m19.8x12.2x5.7x
Sun, 15 Jun 2025NZ$1.6bNZ$301.1mNZ$141.8m18.3x11.3x5.3x
Tue, 13 May 2025NZ$1.6bNZ$277.0mNZ$11.6m44.9x139.9x5.9x
Thu, 10 Apr 2025NZ$1.5bNZ$277.0mNZ$11.6m44.4x131.8x5.5x
Sat, 08 Mar 2025NZ$1.6bNZ$277.0mNZ$11.6m47x137.4x5.8x
Mon, 03 Feb 2025NZ$1.7bNZ$277.0mNZ$11.6m49.3x142.5x6x
Wed, 01 Jan 2025NZ$1.7bNZ$277.0mNZ$11.6m50.8x142.3x6x
Fri, 29 Nov 2024NZ$1.8bNZ$257.4mNZ$11.6m53.8x150.3x6.8x
Sun, 27 Oct 2024NZ$1.8bNZ$255.9m-NZ$116,696,000.00n/a-15.4x7x
Tue, 24 Sep 2024NZ$1.7bNZ$255.9m-NZ$116,696,000.00n/a-14.9x6.8x
Thu, 22 Aug 2024NZ$1.9bNZ$255.9m-NZ$116,696,000.00n/a-15.9x7.3x
Sat, 20 Jul 2024NZ$1.7bNZ$255.9m-NZ$116,696,000.00n/a-14.3x6.5x
Mon, 17 Jun 2024NZ$1.7bNZ$255.9m-NZ$116,696,000.00n/a-14.7x6.7x
Wed, 15 May 2024NZ$1.7bNZ$226.1m-NZ$243,538,000.00n/a-6.8x7.4x
Fri, 12 Apr 2024NZ$1.8bNZ$226.1m-NZ$243,538,000.00n/a-7.4x8x
Sun, 10 Mar 2024NZ$1.8bNZ$226.1m-NZ$243,538,000.00n/a-7.2x7.8x
Tue, 06 Feb 2024NZ$1.8bNZ$226.1m-NZ$243,538,000.00n/a-7.5x8x
Thu, 04 Jan 2024NZ$1.8bNZ$226.1m-NZ$243,538,000.00n/a-7.6x8.2x
Sat, 02 Dec 2023NZ$1.7bNZ$226.1m-NZ$243,538,000.00n/a-7.1x7.7x
Mon, 30 Oct 2023NZ$1.7bNZ$226.4m-NZ$210,629,000.00n/a-8x7.5x
Wed, 27 Sep 2023NZ$1.7bNZ$226.4m-NZ$210,629,000.00n/a-8.2x7.7x
Fri, 25 Aug 2023NZ$1.9bNZ$226.4m-NZ$210,629,000.00n/a-9x8.3x
Sun, 23 Jul 2023NZ$1.9bNZ$226.4m-NZ$210,629,000.00n/a-8.9x8.3x
Tue, 20 Jun 2023NZ$1.8bNZ$226.4m-NZ$210,629,000.00n/a-8.5x7.9x
Thu, 18 May 2023NZ$1.7bNZ$281.7mNZ$118.2m70.4x14.5x6.1x
Price to Earnings Ratio

14.5x


Total Market Cap: NZ$1.7bTotal Earnings: NZ$118.2mTotal Revenue: NZ$281.7mTotal Market Cap vs Earnings and Revenue0%0%0%
New Zealand REITS Industry Price to Earnings3Y Average 20.5x202420252026
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 grown 18% per year over the last three years.
  • Revenues for these companies have grown 3.5% 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 New Zealand Real Estate industry?

NZ Market0.68%
Real Estate-0.61%
REITS-0.70%
Specialized REITs1.66%
Industrial REITs1.22%
Retail REITs-0.061%
Diversified REITs-0.70%
Healthcare REITs-2.11%
Office REITs-2.36%
Industry PE
  • Investors are most optimistic about the Office REITs industry which is trading above its 3-year average PE ratio of 32.1x.
    • Analysts are expecting annual earnings growth of 25.9% 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 51% over the next 5 years.
  • In contrast, the Diversified REITs industry is expected to see its earnings growth to stay flat 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

ARG
NZ$1.08
Argosy Property
7D
-1.4%
1Y
0.9%
Narrative Update • Apr 24

ARG: Slightly Higher Discount Rate Will Still Support Attractive Pricing

Analysts have kept their NZ$1.28 price target for Argosy Property broadly unchanged, with only very small adjustments to the discount rate and forward P/E assumptions reflected in the latest update. Valuation Changes Fair Value: The fair value of NZ$1.28 remains unchanged, indicating the latest inputs have not shifted the central valuation point.
APL
NZ$0.17
Asset Plus
7D
-0.6%
1Y
-7.4%