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Thai (SET) Office REITs Industry Analysis
UpdatedFeb 18, 2026
DataAggregated Company Financials
Companies14
- 7D0.9%
- 3M5.4%
- 1Y3.2%
- YTDn/a
The Office REITs industry is up 1.3% in the last week, with Thailand Prime Property Freehold and Leasehold Real Estate Investment Trust up 5.8%. During this same period, the Millionaire Property Fund underperformed, falling 17%. Overall in the last year, the industry is flat. Looking forward, 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, 18 Feb 2026 | ฿34.7b | ฿6.4b | ฿1.6b | 9.6x | 21.4x | 5.4x |
| Fri, 16 Jan 2026 | ฿33.4b | ฿6.3b | ฿1.6b | 10.3x | 20.5x | 5.3x |
| Sun, 14 Dec 2025 | ฿32.5b | ฿6.3b | ฿1.6b | 10.2x | 20x | 5.1x |
| Tue, 11 Nov 2025 | ฿32.7b | ฿6.5b | ฿2.5b | 10.5x | 13.3x | 5.1x |
| Thu, 09 Oct 2025 | ฿32.9b | ฿6.5b | ฿2.5b | 10.3x | 13.3x | 5.1x |
| Sat, 06 Sep 2025 | ฿31.8b | ฿6.5b | ฿2.5b | 10x | 12.9x | 4.9x |
| Mon, 04 Aug 2025 | ฿31.6b | ฿6.6b | ฿2.3b | 13.3x | 13.9x | 4.8x |
| Wed, 02 Jul 2025 | ฿31.1b | ฿6.6b | ฿2.3b | 14.2x | 13.7x | 4.7x |
| Fri, 30 May 2025 | ฿32.3b | ฿6.6b | ฿2.3b | 14.7x | 14.2x | 4.9x |
| Sun, 27 Apr 2025 | ฿32.7b | ฿6.7b | ฿2.0b | 14.8x | 16.2x | 4.9x |
| Tue, 25 Mar 2025 | ฿33.4b | ฿6.7b | ฿2.0b | 15.4x | 16.5x | 5x |
| Thu, 20 Feb 2025 | ฿33.8b | ฿6.8b | ฿2.0b | 12x | 16.5x | 4.9x |
| Sat, 18 Jan 2025 | ฿35.3b | ฿8.0b | ฿2.5b | 10.1x | 14x | 4.4x |
| Mon, 16 Dec 2024 | ฿35.8b | ฿8.0b | ฿2.5b | 10.1x | 14.3x | 4.5x |
| Wed, 13 Nov 2024 | ฿35.6b | ฿8.1b | ฿2.1b | 10.2x | 16.9x | 4.4x |
| Fri, 11 Oct 2024 | ฿35.7b | ฿8.1b | ฿2.1b | 10.3x | 16.9x | 4.4x |
| Sun, 08 Sep 2024 | ฿30.9b | ฿7.9b | ฿2.0b | 9.6x | 15.2x | 3.9x |
| Tue, 06 Aug 2024 | ฿29.9b | ฿7.9b | ฿1.9b | 14.8x | 15.6x | 3.8x |
| Thu, 04 Jul 2024 | ฿29.4b | ฿7.9b | ฿1.9b | 15x | 15.3x | 3.7x |
| Sat, 01 Jun 2024 | ฿30.7b | ฿7.9b | ฿2.2b | 10.3x | 13.8x | 3.9x |
| Mon, 29 Apr 2024 | ฿31.3b | ฿7.9b | ฿2.4b | 10.1x | 13x | 4x |
| Wed, 27 Mar 2024 | ฿31.4b | ฿7.9b | ฿2.4b | 9.9x | 13x | 4x |
| Fri, 23 Feb 2024 | ฿33.2b | ฿7.9b | ฿2.4b | 10.3x | 13.6x | 4.2x |
| Sun, 21 Jan 2024 | ฿34.8b | ฿7.9b | ฿2.4b | 11x | 14.4x | 4.4x |
| Tue, 19 Dec 2023 | ฿32.8b | ฿7.9b | ฿2.4b | 10.1x | 13.6x | 4.1x |
| Thu, 16 Nov 2023 | ฿33.9b | ฿7.9b | ฿3.1b | 10.4x | 11x | 4.3x |
| Sat, 14 Oct 2023 | ฿34.6b | ฿7.8b | ฿3.2b | 10.5x | 11x | 4.4x |
| Mon, 11 Sep 2023 | ฿38.1b | ฿7.8b | ฿3.2b | 11.5x | 12.1x | 4.9x |
| Wed, 09 Aug 2023 | ฿42.5b | ฿7.7b | ฿3.5b | 12x | 12x | 5.5x |
| Fri, 07 Jul 2023 | ฿44.6b | ฿7.7b | ฿3.6b | 11.8x | 12.5x | 5.8x |
| Sun, 04 Jun 2023 | ฿47.5b | ฿7.7b | ฿3.6b | 12x | 13.3x | 6.2x |
| Tue, 02 May 2023 | ฿48.4b | ฿7.7b | ฿3.6b | 13.4x | 13.4x | 6.3x |
| Thu, 30 Mar 2023 | ฿48.8b | ฿7.7b | ฿3.6b | 13.4x | 13.5x | 6.3x |
| Sat, 25 Feb 2023 | ฿50.9b | ฿7.7b | ฿3.4b | 12.9x | 14.9x | 6.6x |
Price to Earnings Ratio
14.9x
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 21.2x which is higher than its 3-year average PE of 14.4x.
- The 3-year average PS ratio of 4.8x 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 6.1% 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 | 3.54% | |
| Real Estate | 2.68% | |
| REITS | 0.28% | |
| Office REITs | 0.94% | |
| Specialized REITs | 3.93% | |
| Hotel and Resort REITs | 2.10% | |
| Retail REITs | 1.70% | |
| Diversified REITs | 0.28% | |
| Residential REITs | 0.22% | |
| Industrial REITs | -0.053% | |
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 | |
|---|---|---|---|---|---|
| TPRIME Thailand Prime Property Freehold and Leasehold Real Estate Investment Trust | ฿7.15 | 4.4% +฿164.3m | 0.7% | PB0.6x | |
| BOFFICE Bhiraj Office Leasehold Real Estate Investment Trust | ฿5.40 | 3.8% +฿147.6m | 11.1% | PB0.6x | |
| CPTREIT C.P. Tower Leasehold Real Estate Investment Trust | ฿5.70 | 2.7% +฿145.1m | 26.1% | PB0.6x | |
| B-WORK Bualuang Office Leasehold Real Estate Investment Trust | ฿5.35 | 1.9% +฿36.9m | 14.8% | PB0.6x | |
| SSTRT Sub Sri Thai Real Estate Investment Trust | ฿4.64 | 3.6% +฿30.6m | -2.9% | PB0.6x |