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Thai (SET) REITS Industry Analysis
UpdatedJul 19, 2025
DataAggregated Company Financials
Companies5
- 7D1.7%
- 3M-3.5%
- 1Y-0.3%
- YTD-7.5%
Over the last 7 days, the REITS industry has risen 1.7%, driven by gains from every company within the industry. The industry has been flat over the past 12 months despite the gain this week.
Industry Valuation and Performance
Has the Thai REITS Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Sat, 19 Jul 2025 | ฿6.6b | ฿1.5b | ฿694.7m | 7.6x | 9.5x | 4.5x |
| Mon, 16 Jun 2025 | ฿6.5b | ฿1.5b | ฿694.7m | 7.4x | 9.3x | 4.4x |
| Wed, 14 May 2025 | ฿6.8b | ฿1.5b | ฿673.0m | 7.8x | 10.2x | 4.6x |
| Fri, 11 Apr 2025 | ฿6.8b | ฿1.5b | ฿673.0m | 7.7x | 10.1x | 4.6x |
| Sun, 09 Mar 2025 | ฿6.9b | ฿1.5b | ฿673.0m | 8x | 10.3x | 4.7x |
| Tue, 04 Feb 2025 | ฿7.0b | ฿1.5b | ฿681.1m | 7.9x | 10.2x | 4.7x |
| Thu, 02 Jan 2025 | ฿6.3b | ฿1.5b | ฿681.1m | 7.9x | 9.2x | 4.2x |
| Sat, 30 Nov 2024 | ฿6.4b | ฿1.5b | ฿681.1m | 8x | 9.4x | 4.3x |
| Mon, 28 Oct 2024 | ฿6.5b | ฿1.5b | ฿471.3m | 8.8x | 13.7x | 4.5x |
| Wed, 25 Sep 2024 | ฿6.7b | ฿1.5b | ฿471.3m | 9.1x | 14.2x | 4.6x |
| Fri, 23 Aug 2024 | ฿6.0b | ฿1.5b | ฿471.3m | 9.1x | 12.7x | 4.1x |
| Sun, 21 Jul 2024 | ฿5.8b | ฿1.5b | ฿641.3m | 14.9x | 9.1x | 4x |
| Tue, 18 Jun 2024 | ฿5.9b | ฿1.5b | ฿641.3m | 15.3x | 9.3x | 4.1x |
| Thu, 16 May 2024 | ฿6.2b | ฿1.5b | ฿162.7m | 19.3x | 38.1x | 4.2x |
| Sat, 13 Apr 2024 | ฿5.9b | ฿1.5b | ฿158.1m | 16.7x | 37.4x | 4.1x |
| Mon, 11 Mar 2024 | ฿6.2b | ฿1.5b | ฿158.1m | 18x | 39.3x | 4.3x |
| Wed, 07 Feb 2024 | ฿6.4b | ฿1.4b | ฿217.6m | 10.1x | 29.4x | 4.4x |
| Fri, 05 Jan 2024 | ฿6.4b | ฿1.4b | ฿217.6m | 10.4x | 29.5x | 4.5x |
| Sun, 03 Dec 2023 | ฿6.2b | ฿1.4b | ฿217.6m | 10.5x | 28.7x | 4.3x |
| Tue, 31 Oct 2023 | ฿6.2b | ฿1.4b | ฿320.0m | 8.7x | 19.4x | 4.3x |
| Thu, 28 Sep 2023 | ฿6.6b | ฿1.4b | ฿320.0m | 8.9x | 20.7x | 4.6x |
| Sat, 26 Aug 2023 | ฿7.2b | ฿1.4b | ฿320.0m | 9.7x | 22.6x | 5x |
| Mon, 24 Jul 2023 | ฿8.4b | ฿1.4b | ฿430.3m | 9.7x | 19.6x | 5.9x |
| Wed, 21 Jun 2023 | ฿9.1b | ฿1.4b | ฿430.3m | 10.7x | 21.1x | 6.4x |
| Fri, 19 May 2023 | ฿9.2b | ฿1.4b | ฿972.1m | 10x | 9.4x | 6.5x |
| Sun, 16 Apr 2023 | ฿9.3b | ฿1.4b | ฿972.1m | 10.2x | 9.5x | 6.6x |
| Tue, 14 Mar 2023 | ฿303.4b | ฿35.3b | ฿17.5b | 12.9x | 17.4x | 8.6x |
| Thu, 09 Feb 2023 | ฿336.0b | ฿33.5b | ฿17.5b | 13.1x | 19.2x | 10x |
| Sat, 07 Jan 2023 | ฿318.6b | ฿33.4b | ฿18.8b | 13x | 16.9x | 9.5x |
| Mon, 05 Dec 2022 | ฿308.2b | ฿33.1b | ฿18.6b | 12.5x | 16.6x | 9.3x |
| Wed, 02 Nov 2022 | ฿307.9b | ฿30.9b | ฿16.4b | 12.8x | 18.8x | 10x |
| Fri, 30 Sep 2022 | ฿302.1b | ฿30.8b | ฿16.2b | 13x | 18.6x | 9.8x |
| Sun, 28 Aug 2022 | ฿314.2b | ฿30.8b | ฿16.2b | 13.4x | 19.4x | 10.2x |
| Tue, 26 Jul 2022 | ฿303.9b | ฿29.4b | ฿13.8b | 13.6x | 22x | 10.3x |
Price to Earnings Ratio
22x
Current Industry PE
- Investors are pessimistic on the Thai REITs industry, indicating that they anticipate long term growth rates will be lower than they have historically.
- The industry is trading at a PE ratio of 9.5x which is lower than its 3-year average PE of 17.6x.
- The 3-year average PS ratio of 5.8x is higher than the industry's current PS ratio of 4.5x.
Past Earnings Growth
- The earnings for companies in the REITs industry have declined 63% per year over the last three years,
- Revenues have also declined 63% 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 | 7.66% | |
| Real Estate | 3.76% | |
| REITS | 1.69% | |
| Retail REITs | 6.10% | |
| Industrial REITs | 3.63% | |
| Hotel and Resort REITs | 1.86% | |
| Diversified REITs | 1.69% | |
| Specialized REITs | 1.29% | |
| Residential REITs | 1.06% | |
| Office REITs | 0.72% | |
Industry PE
- Investors are most optimistic about the Residential REITs industry which is trading above its 3-year average PE ratio of 5.4x.
- It looks like they are confident that earnings will grow faster in the future than they have historically.
- Investors are most pessimistic about the Hotel and Resort REITs industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average.
Forecasted Growth
- Analysts are most optimistic on the Retail REITs industry, expecting annual earnings growth of 17% over the next 5 years.
- This is better than its past earnings growth rate of 12% per year.
- In contrast, the Hotel and Resort REITs industry is expected to see its earnings decline by 9.8% 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 | |
|---|---|---|---|---|---|
| KTBSTMR KTBST Mixed Freehold and Leasehold Real Estate Investment Trust | ฿5.70 | 2.7% +฿45.2m | -10.9% | PB0.6x | |
| SRIPANWA Sri panwa Hospitality Real Estate Investment Trust | ฿4.96 | 2.9% +฿39.1m | 2.1% | PB0.4x | |
| ISSARA Issara Real Estate Investment Trust | ฿7.75 | 3.3% +฿25.0m | n/a | n/a |