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Thai (SET) Office REITs Industry Analysis
UpdatedFeb 10, 2026
DataAggregated Company Financials
Companies14
- 7D2.1%
- 3M5.3%
- 1Y0.6%
- YTD2.0%
Over the last 7 days, the Office REITs industry has risen 2.1%, driven by gains from Millionaire Property Fund of 28%. In the same time, Siripinyo Real Estate Investment Trust was down 6.3%. Despite this gain, the industry's performance has been flat over the past year. Earnings are forecast to grow by 9.4% annually.
Industry Valuation and Performance
Has the Thai Office REITs Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Wed, 11 Feb 2026 | ฿34.2b | ฿6.3b | ฿1.6b | 10.2x | 21.1x | 5.4x |
| Fri, 09 Jan 2026 | ฿33.6b | ฿6.3b | ฿1.6b | 10.2x | 20.7x | 5.3x |
| Sun, 07 Dec 2025 | ฿32.4b | ฿6.3b | ฿2.0b | 13.8x | 16.3x | 5.1x |
| Tue, 04 Nov 2025 | ฿32.7b | ฿6.5b | ฿2.5b | 10.3x | 13.3x | 5x |
| Thu, 02 Oct 2025 | ฿32.6b | ฿6.5b | ฿2.5b | 10.3x | 13.2x | 5x |
| Sat, 30 Aug 2025 | ฿31.5b | ฿6.5b | ฿2.5b | 9.9x | 12.8x | 4.9x |
| Mon, 28 Jul 2025 | ฿31.6b | ฿6.6b | ฿2.3b | 14.2x | 13.9x | 4.8x |
| Wed, 25 Jun 2025 | ฿30.7b | ฿6.6b | ฿2.3b | 13.6x | 13.5x | 4.6x |
| Fri, 23 May 2025 | ฿32.4b | ฿6.6b | ฿2.3b | 14.5x | 14.2x | 4.9x |
| Sun, 20 Apr 2025 | ฿32.4b | ฿6.7b | ฿2.0b | 15.1x | 16x | 4.8x |
| Tue, 18 Mar 2025 | ฿32.7b | ฿6.7b | ฿2.0b | 15.4x | 16.2x | 4.9x |
| Thu, 13 Feb 2025 | ฿34.4b | ฿8.0b | ฿2.5b | 10x | 13.7x | 4.3x |
| Sat, 11 Jan 2025 | ฿35.5b | ฿8.0b | ฿2.5b | 10.1x | 14.2x | 4.5x |
| Mon, 09 Dec 2024 | ฿36.7b | ฿8.1b | ฿2.6b | 11.2x | 14.3x | 4.5x |
| Wed, 06 Nov 2024 | ฿36.0b | ฿8.1b | ฿2.1b | 10.3x | 17x | 4.4x |
| Fri, 04 Oct 2024 | ฿35.7b | ฿8.1b | ฿2.1b | 10.4x | 16.9x | 4.4x |
| Sun, 01 Sep 2024 | ฿30.1b | ฿7.9b | ฿2.0b | 9.6x | 14.7x | 3.8x |
| Tue, 30 Jul 2024 | ฿29.6b | ฿7.9b | ฿1.9b | 14.9x | 15.4x | 3.7x |
| Thu, 27 Jun 2024 | ฿29.5b | ฿7.9b | ฿1.9b | 15x | 15.4x | 3.7x |
| Sat, 25 May 2024 | ฿31.2b | ฿7.9b | ฿2.2b | 10.3x | 14x | 3.9x |
| Mon, 22 Apr 2024 | ฿30.9b | ฿7.9b | ฿2.4b | 9.9x | 12.8x | 3.9x |
| Wed, 20 Mar 2024 | ฿32.1b | ฿7.9b | ฿2.4b | 10x | 13.3x | 4x |
| Fri, 16 Feb 2024 | ฿33.8b | ฿7.9b | ฿2.4b | 10.6x | 14x | 4.3x |
| Sun, 14 Jan 2024 | ฿34.9b | ฿7.9b | ฿2.4b | 10.9x | 14.5x | 4.4x |
| Tue, 12 Dec 2023 | ฿33.2b | ฿7.9b | ฿2.4b | 10.2x | 13.8x | 4.2x |
| Thu, 09 Nov 2023 | ฿33.8b | ฿7.8b | ฿3.2b | 10.2x | 10.5x | 4.3x |
| Sat, 07 Oct 2023 | ฿34.6b | ฿7.8b | ฿3.2b | 10.4x | 11x | 4.4x |
| Mon, 04 Sep 2023 | ฿38.6b | ฿7.8b | ฿3.2b | 11.6x | 12.2x | 4.9x |
| Wed, 02 Aug 2023 | ฿43.4b | ฿7.7b | ฿3.6b | 11.6x | 12.1x | 5.6x |
| Fri, 30 Jun 2023 | ฿44.9b | ฿7.7b | ฿3.6b | 11.7x | 12.5x | 5.8x |
| Sun, 28 May 2023 | ฿47.8b | ฿7.7b | ฿3.6b | 12x | 13.4x | 6.2x |
| Tue, 25 Apr 2023 | ฿48.3b | ฿7.7b | ฿3.6b | 13.4x | 13.4x | 6.3x |
Price to Earnings Ratio
13.6x
Current Industry PE
- Investors are optimistic on the Thai Office REITs industry, and appear confident in long term growth rates.
- The industry is trading at a PE ratio of 21.1x which is higher than its 3-year average PE of 14.4x.
- The 3-year average PS ratio of 4.7x is lower than the industry's current PS ratio of 5.4x.
Past Earnings Growth
- The earnings for companies in the Office REITs industry have declined 23% per year over the last three years,
- Revenues have also declined 6.2% 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 Thai Real Estate industry?
| TH Market | 6.00% | |
| Real Estate | 3.76% | |
| Office REITs | 2.08% | |
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| MIPF Millionaire Property Fund | ฿10.20 | 11.5% +฿199.5m | 12.1% | PB0.9x | |
| CPTREIT C.P. Tower Leasehold Real Estate Investment Trust | ฿5.55 | 3.7% +฿193.4m | 11.4% | PB0.6x | |
| SSPF Sala @ Sathorn Property Fund | ฿3.68 | 15.0% +฿80.2m | 2.2% | PB0.3x | |
| POPF Prime Office Leasehold Property Fund | ฿6.95 | 1.5% +฿48.2m | 10.3% | PB0.7x | |
| B-WORK Bualuang Office Leasehold Real Estate Investment Trust | ฿5.25 | 1.9% +฿36.9m | 10.8% | PB0.6x |