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Thai (SET) Office REITs Industry Analysis
UpdatedJul 15, 2025
DataAggregated Company Financials
Companies14
- 7D1.0%
- 3M-2.2%
- 1Y-0.8%
- YTDn/a
Last week, the Office REITs industry hasn't moved much but Quality Houses Leasehold Property Fund is up 3.6% in that time. In line with that, the industry has also been flat over the past 12 months.
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, 16 Jul 2025 | ฿31.3b | ฿6.6b | ฿2.3b | 14.2x | 13.7x | 4.7x |
| Fri, 13 Jun 2025 | ฿32.0b | ฿6.6b | ฿2.3b | 14.2x | 14x | 4.8x |
| Sun, 11 May 2025 | ฿32.5b | ฿6.7b | ฿2.0b | 14.7x | 16.1x | 4.8x |
| Tue, 08 Apr 2025 | ฿32.6b | ฿6.7b | ฿2.0b | 15.1x | 16.1x | 4.8x |
| Thu, 06 Mar 2025 | ฿32.6b | ฿6.7b | ฿2.0b | 14.8x | 16.1x | 4.8x |
| Sat, 01 Feb 2025 | ฿35.1b | ฿8.0b | ฿2.5b | 10.2x | 14x | 4.4x |
| Mon, 30 Dec 2024 | ฿35.8b | ฿8.0b | ฿2.5b | 10x | 14.3x | 4.5x |
| Wed, 27 Nov 2024 | ฿35.3b | ฿8.1b | ฿2.6b | 10.4x | 13.4x | 4.4x |
| Fri, 25 Oct 2024 | ฿35.9b | ฿8.1b | ฿2.1b | 10.4x | 16.9x | 4.4x |
| Sun, 22 Sep 2024 | ฿37.4b | ฿8.1b | ฿2.1b | 10.7x | 17.6x | 4.6x |
| Tue, 20 Aug 2024 | ฿29.9b | ฿7.9b | ฿2.0b | 9.6x | 14.7x | 3.8x |
| Thu, 18 Jul 2024 | ฿29.8b | ฿7.9b | ฿1.9b | 15.5x | 15.6x | 3.8x |
| Sat, 15 Jun 2024 | ฿30.0b | ฿7.9b | ฿1.9b | 15.2x | 15.7x | 3.8x |
| Mon, 13 May 2024 | ฿31.5b | ฿7.9b | ฿2.4b | 10.5x | 13.2x | 4x |
| Wed, 10 Apr 2024 | ฿31.1b | ฿7.9b | ฿2.4b | 10.2x | 12.9x | 3.9x |
| Fri, 08 Mar 2024 | ฿32.5b | ฿7.9b | ฿2.4b | 10x | 13.5x | 4.1x |
| Sun, 04 Feb 2024 | ฿35.0b | ฿7.9b | ฿2.4b | 10.7x | 14.5x | 4.4x |
| Tue, 02 Jan 2024 | ฿33.9b | ฿7.9b | ฿2.4b | 10.3x | 14.1x | 4.3x |
| Thu, 30 Nov 2023 | ฿33.5b | ฿7.9b | ฿2.4b | 10.3x | 13.9x | 4.2x |
| Sat, 28 Oct 2023 | ฿33.3b | ฿7.8b | ฿3.2b | 9.9x | 10.6x | 4.3x |
| Mon, 25 Sep 2023 | ฿36.0b | ฿7.8b | ฿3.2b | 11x | 11.4x | 4.6x |
| Wed, 23 Aug 2023 | ฿40.3b | ฿7.8b | ฿3.2b | 11.3x | 12.8x | 5.1x |
| Fri, 21 Jul 2023 | ฿44.2b | ฿7.7b | ฿3.6b | 11.7x | 12.3x | 5.7x |
| Sun, 18 Jun 2023 | ฿46.8b | ฿7.7b | ฿3.6b | 11.9x | 13.1x | 6.1x |
| Tue, 16 May 2023 | ฿48.4b | ฿7.7b | ฿3.6b | 13.3x | 13.6x | 6.3x |
| Thu, 13 Apr 2023 | ฿48.6b | ฿7.7b | ฿3.6b | 13.4x | 13.5x | 6.3x |
| Sat, 11 Mar 2023 | ฿49.2b | ฿7.7b | ฿3.6b | 13x | 13.7x | 6.4x |
| Mon, 06 Feb 2023 | ฿52.0b | ฿7.6b | ฿3.5b | 13.2x | 14.9x | 6.8x |
| Wed, 04 Jan 2023 | ฿50.6b | ฿7.6b | ฿3.5b | 12.3x | 14.5x | 6.6x |
| Fri, 02 Dec 2022 | ฿50.1b | ฿7.6b | ฿3.5b | 12.2x | 14.3x | 6.6x |
| Sun, 30 Oct 2022 | ฿49.5b | ฿7.5b | ฿3.5b | 12.7x | 13.9x | 6.6x |
| Tue, 27 Sep 2022 | ฿50.3b | ฿7.5b | ฿3.5b | 12.8x | 14.2x | 6.7x |
| Thu, 25 Aug 2022 | ฿50.6b | ฿7.5b | ฿3.5b | 12.8x | 14.3x | 6.7x |
| Sat, 23 Jul 2022 | ฿50.1b | ฿7.5b | ฿3.3b | 12.4x | 15.1x | 6.7x |
Price to Earnings Ratio
15.1x
Current Industry PE
- Investors are relatively neutral on the Thai Office REITs industry at the moment, indicating that they anticipate long term growth rates to remain steady.
- The industry is trading close to its 3-year average PE ratio of 14.1x.
- The industry is trading close to its 3-year average PS ratio of 5.1x.
Past Earnings Growth
- The earnings for companies in the Office REITs industry have declined 12% per year over the last three years,
- Revenues have also declined 4.1% per year.
- This means overall sales from these companies are declining and profits are subsequently falling as well.
Industry Comparison
How does Thai Office REITs compare with similar industries?
| TH Market | 1.85% | |
| Real Estate | 1.50% | |
| REITS | 0.76% | |
| Office REITs | 0.96% | |
| Hotel and Resort REITs | 2.21% | |
| Diversified REITs | 0.76% | |
| Specialized REITs | 0.32% | |
| Residential REITs | 0.28% | |
| Retail REITs | -0.98% | |
| Industrial REITs | -1.57% | |
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 | |
|---|---|---|---|---|---|
| QHBREIT Quality Houses Leasehold Property Fund | ฿3.46 | 3.6% +฿95.6m | -20.6% | PB0.3x | |
| TPRIME Thailand Prime Property Freehold and Leasehold Real Estate Investment Trust | ฿6.55 | 2.3% +฿82.1m | 9.2% | PB0.6x | |
| POPF Prime Office Leasehold Property Fund | ฿5.70 | 1.8% +฿48.2m | 2.7% | PB0.6x | |
| BOFFICE Bhiraj Office Leasehold Real Estate Investment Trust | ฿4.76 | 0.8% +฿29.5m | 8.7% | PB0.5x | |
| CPTREIT C.P. Tower Leasehold Real Estate Investment Trust | ฿4.64 | 0.4% +฿19.3m | -10.8% | PB0.5x |