Thai (SET) REITS Industry Analysis
UpdatedApr 05, 2024
DataAggregated Company Financials
Companies4
- 7D-1.6%
- 3M-10.3%
- 1Y-37.5%
- YTD-7.2%
Over the last 7 days, the REITS industry has dropped 1.9%, driven by a pullback from CPN Commercial Growth Leasehold Property Fund of 2.6%. The industry has fallen 37% in the last year.
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 |
|---|---|---|---|---|---|---|
| Fri, 05 Apr 2024 | ฿5.8b | ฿1.5b | ฿158.1m | 16.7x | 36.9x | 4x |
| Sun, 03 Mar 2024 | ฿6.2b | ฿1.5b | ฿158.1m | 18.1x | 39.1x | 4.2x |
| Tue, 30 Jan 2024 | ฿6.3b | ฿1.4b | ฿217.6m | 10x | 28.7x | 4.3x |
| Thu, 28 Dec 2023 | ฿6.2b | ฿1.4b | ฿217.6m | 10.1x | 28.7x | 4.3x |
| Sat, 25 Nov 2023 | ฿6.2b | ฿1.4b | ฿217.6m | 10.6x | 28.3x | 4.3x |
| Mon, 23 Oct 2023 | ฿6.3b | ฿1.4b | ฿320.0m | 8.1x | 19.7x | 4.4x |
| Wed, 20 Sep 2023 | ฿6.9b | ฿1.4b | ฿320.0m | 9.2x | 21.5x | 4.8x |
| Fri, 18 Aug 2023 | ฿7.0b | ฿1.4b | ฿320.0m | 10x | 22x | 4.9x |
| Sun, 16 Jul 2023 | ฿8.5b | ฿1.4b | ฿430.3m | 9.6x | 19.7x | 5.9x |
| Tue, 13 Jun 2023 | ฿9.3b | ฿1.4b | ฿430.3m | 10.9x | 21.5x | 6.5x |
| Thu, 11 May 2023 | ฿9.3b | ฿1.4b | ฿972.1m | 10.2x | 9.6x | 6.6x |
| Sat, 08 Apr 2023 | ฿9.3b | ฿1.4b | ฿972.1m | 10.2x | 9.5x | 6.6x |
| Mon, 06 Mar 2023 | ฿317.4b | ฿34.2b | ฿16.2b | 13.2x | 19.6x | 9.3x |
| Wed, 01 Feb 2023 | ฿338.6b | ฿33.5b | ฿17.5b | 13.1x | 19.4x | 10.1x |
| Fri, 30 Dec 2022 | ฿317.5b | ฿33.4b | ฿18.8b | 13x | 16.9x | 9.5x |
| Sun, 27 Nov 2022 | ฿307.2b | ฿33.1b | ฿18.6b | 12.4x | 16.5x | 9.3x |
| Tue, 25 Oct 2022 | ฿307.4b | ฿30.9b | ฿16.4b | 12.7x | 18.8x | 9.9x |
| Thu, 22 Sep 2022 | ฿308.3b | ฿30.8b | ฿16.2b | 13.2x | 19x | 10x |
| Sat, 20 Aug 2022 | ฿310.3b | ฿30.8b | ฿16.1b | 13.5x | 19.3x | 10.1x |
| Mon, 18 Jul 2022 | ฿302.2b | ฿29.4b | ฿13.8b | 13.6x | 21.9x | 10.3x |
| Wed, 15 Jun 2022 | ฿310.1b | ฿29.3b | ฿13.8b | 14.1x | 22.5x | 10.6x |
| Fri, 13 May 2022 | ฿316.4b | ฿29.1b | ฿13.7b | 14.3x | 23.2x | 10.9x |
| Sun, 10 Apr 2022 | ฿323.5b | ฿29.0b | ฿13.8b | 14.5x | 23.4x | 11.2x |
| Tue, 08 Mar 2022 | ฿323.2b | ฿29.0b | ฿13.8b | 14.4x | 23.4x | 11.2x |
| Thu, 03 Feb 2022 | ฿312.1b | ฿29.0b | ฿12.9b | 14.2x | 24.2x | 10.8x |
| Sat, 01 Jan 2022 | ฿334.8b | ฿29.0b | ฿12.8b | 14.5x | 26.1x | 11.5x |
| Mon, 29 Nov 2021 | ฿355.3b | ฿29.6b | ฿12.8b | 15x | 27.8x | 12x |
| Wed, 27 Oct 2021 | ฿354.9b | ฿30.8b | ฿13.4b | 15.1x | 26.5x | 11.5x |
| Fri, 24 Sep 2021 | ฿346.5b | ฿30.9b | ฿13.5b | 15.2x | 25.6x | 11.2x |
| Sun, 22 Aug 2021 | ฿347.6b | ฿30.9b | ฿13.5b | 15.6x | 25.7x | 11.3x |
| Fri, 09 Jul 2021 | ฿355.3b | ฿30.9b | ฿13.5b | 14.2x | 26.3x | 11.5x |
Price to Earnings Ratio
26.7x
Current Industry PE
- Investors are optimistic on the Thai REITs industry, and appear confident in long term growth rates.
- The industry is trading at a PE ratio of 37.2x which is higher than its 3-year average PE of 22.7x.
- The 3-year average PS ratio of 8.7x is higher than the industry's current PS ratio of 4.0x.
Past Earnings Growth
- The earnings for companies in the REITs industry have declined 77% per year over the last three years,
- Revenues have also declined 64% 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 | 0.16% | |
| Real Estate | -0.45% | |
| REITS | -1.65% | |
| Retail REITs | 1.61% | |
| Specialized REITs | 1.43% | |
| Industrial REITs | 0.022% | |
| Healthcare REITs | 0% | |
| Hotel and Resort REITs | -0.15% | |
| Diversified REITs | -1.65% | |
| Office REITs | -1.92% | |
| Residential REITs | -2.07% | |
Industry PE
- Investors are most optimistic about the Diversified REITs industry which is trading above its 3-year average PE ratio.
- It looks like they are confident that earnings will grow faster in the future than they have historically.
- Investors are most pessimistic about the Retail REITs industry, which is trading below its 3-year average of 29.1x.
Forecasted Growth
- Analysts are most optimistic on the Specialized REITs industry, expecting annual earnings growth of 19% over the next 5 years.
- This is better than its past earnings decline of 11% per year.
- In contrast, the Office REITs industry is expected to see its earnings decline by 27% 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 | ฿6.55 | 0.8% +฿15.1m | -25.1% | PB0.6x | |
| TNPF Trinity Freehold and Leasehold Property Fund | ฿1.76 | 5.4% +฿13.2m | 0% | PB0.3x |