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Thai (SET) REITS Industry Analysis
UpdatedMay 31, 2025
DataAggregated Company Financials
Companies5
- 7D-0.9%
- 3M-4.3%
- 1Y-4.4%
- YTD-8.2%
The REITS industry has stayed flat over the last week. As for the longer term, the industry has declined 4.5% 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 |
|---|---|---|---|---|---|---|
| Sat, 31 May 2025 | ฿6.5b | ฿1.5b | ฿694.7m | 7.5x | 9.4x | 4.5x |
| Mon, 28 Apr 2025 | ฿6.7b | ฿1.5b | ฿673.0m | 7.7x | 10x | 4.6x |
| Wed, 26 Mar 2025 | ฿7.0b | ฿1.5b | ฿673.0m | 7.9x | 10.4x | 4.8x |
| Fri, 21 Feb 2025 | ฿6.8b | ฿1.5b | ฿681.1m | 7.7x | 10x | 4.6x |
| Sun, 19 Jan 2025 | ฿6.1b | ฿1.5b | ฿681.1m | 7.8x | 9x | 4.1x |
| Tue, 17 Dec 2024 | ฿6.3b | ฿1.5b | ฿681.1m | 8x | 9.3x | 4.3x |
| Thu, 14 Nov 2024 | ฿6.6b | ฿1.5b | ฿475.1m | 8.7x | 13.8x | 4.5x |
| Sat, 12 Oct 2024 | ฿6.5b | ฿1.5b | ฿471.3m | 8.9x | 13.9x | 4.5x |
| Mon, 09 Sep 2024 | ฿6.1b | ฿1.5b | ฿471.3m | 8.9x | 13x | 4.2x |
| Wed, 07 Aug 2024 | ฿6.1b | ฿1.5b | ฿641.3m | 15.3x | 9.5x | 4.1x |
| Fri, 05 Jul 2024 | ฿5.8b | ฿1.5b | ฿641.3m | 15x | 9.1x | 4x |
| Sun, 02 Jun 2024 | ฿6.0b | ฿1.5b | ฿648.0m | 14.1x | 9.3x | 4.1x |
| Tue, 30 Apr 2024 | ฿5.9b | ฿1.5b | ฿158.1m | 17.8x | 37.5x | 4.1x |
| Thu, 28 Mar 2024 | ฿5.9b | ฿1.5b | ฿158.1m | 17.6x | 37.4x | 4.1x |
| Sat, 24 Feb 2024 | ฿6.1b | ฿1.4b | ฿217.6m | 9.7x | 27.9x | 4.2x |
| Mon, 22 Jan 2024 | ฿6.3b | ฿1.4b | ฿217.6m | 10.6x | 28.8x | 4.4x |
| Wed, 20 Dec 2023 | ฿6.3b | ฿1.4b | ฿217.6m | 9.4x | 28.9x | 4.4x |
| Fri, 17 Nov 2023 | ฿6.3b | ฿1.4b | ฿216.1m | 10.6x | 29.3x | 4.4x |
| Sun, 15 Oct 2023 | ฿6.5b | ฿1.4b | ฿320.0m | 8.3x | 20.2x | 4.5x |
| Tue, 12 Sep 2023 | ฿7.0b | ฿1.4b | ฿320.0m | 9.4x | 21.9x | 4.9x |
| Thu, 10 Aug 2023 | ฿7.9b | ฿1.4b | ฿430.3m | 9.4x | 18.3x | 5.5x |
| Sat, 08 Jul 2023 | ฿8.5b | ฿1.4b | ฿430.3m | 9.7x | 19.8x | 6x |
| Mon, 05 Jun 2023 | ฿9.1b | ฿1.4b | ฿430.3m | 11x | 21.1x | 6.3x |
| Wed, 03 May 2023 | ฿9.2b | ฿1.4b | ฿972.1m | 10.3x | 9.4x | 6.5x |
| Fri, 31 Mar 2023 | ฿9.4b | ฿1.4b | ฿972.1m | 10.2x | 9.7x | 6.7x |
| Sun, 26 Feb 2023 | ฿328.4b | ฿34.1b | ฿16.1b | 13.1x | 20.4x | 9.6x |
| Tue, 24 Jan 2023 | ฿339.8b | ฿33.5b | ฿17.5b | 13x | 19.4x | 10.1x |
| Thu, 22 Dec 2022 | ฿312.2b | ฿33.4b | ฿18.8b | 12.7x | 16.6x | 9.3x |
| Sat, 19 Nov 2022 | ฿305.3b | ฿32.2b | ฿17.4b | 12.8x | 17.6x | 9.5x |
| Mon, 17 Oct 2022 | ฿308.1b | ฿30.9b | ฿16.4b | 12.7x | 18.8x | 10x |
| Wed, 14 Sep 2022 | ฿311.7b | ฿30.8b | ฿16.2b | 13.4x | 19.2x | 10.1x |
| Fri, 12 Aug 2022 | ฿312.5b | ฿29.8b | ฿14.9b | 13.6x | 21x | 10.5x |
| Sun, 10 Jul 2022 | ฿306.8b | ฿29.3b | ฿13.8b | 13.9x | 22.3x | 10.5x |
| Tue, 07 Jun 2022 | ฿312.8b | ฿29.3b | ฿13.8b | 14.3x | 22.7x | 10.7x |
Price to Earnings Ratio
22.7x
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 18.2x.
- The 3-year average PS ratio of 6.1x 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 | -2.34% | |
| Real Estate | -1.13% | |
| REITS | -0.92% | |
| Residential REITs | 2.66% | |
| Specialized REITs | 1.42% | |
| Industrial REITs | 0.72% | |
| Office REITs | 0.41% | |
| Retail REITs | -0.69% | |
| Diversified REITs | -0.92% | |
| Hotel and Resort REITs | -1.00% | |
Industry PE
- Investors are most optimistic about the Residential REITs industry which is trading above its 3-year average PE ratio of 5.2x.
- 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 25% 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 10% 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 | |
|---|---|---|---|---|---|
| CPNCG CPN Commercial Growth Leasehold Property Fund | ฿5.90 | 0.9% +฿21.3m | 7.3% | PB0.6x |