Thai (SET) Office REITs Industry Analysis
UpdatedApr 12, 2024
DataAggregated Company Financials
Companies13
- 7D0.5%
- 3M-10.8%
- 1Y-35.9%
- YTDn/a
Over the last 7 days, the Office REITs industry has dropped 1.9%, driven by a pullback from Quality Houses Leasehold Property Fund of 11%. Overall the industry is down 36% in 12 months. As for the next few years, earnings are forecast to decline by 27% per annum.
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 |
|---|---|---|---|---|---|---|
| Fri, 12 Apr 2024 | ฿31.2b | ฿7.9b | ฿2.4b | 10.1x | 12.9x | 3.9x |
| Sun, 10 Mar 2024 | ฿32.2b | ฿7.9b | ฿2.4b | 10x | 13.4x | 4.1x |
| Tue, 06 Feb 2024 | ฿34.8b | ฿7.9b | ฿2.4b | 10.6x | 14.4x | 4.4x |
| Thu, 04 Jan 2024 | ฿33.8b | ฿7.9b | ฿2.4b | 10.6x | 14x | 4.3x |
| Sat, 02 Dec 2023 | ฿33.3b | ฿7.9b | ฿2.4b | 10.2x | 13.8x | 4.2x |
| Mon, 30 Oct 2023 | ฿33.4b | ฿7.8b | ฿3.2b | 9.9x | 10.6x | 4.3x |
| Wed, 27 Sep 2023 | ฿35.5b | ฿7.8b | ฿3.2b | 10.9x | 11.3x | 4.5x |
| Fri, 25 Aug 2023 | ฿40.1b | ฿7.8b | ฿3.2b | 11.8x | 12.7x | 5.1x |
| Sun, 23 Jul 2023 | ฿44.1b | ฿7.7b | ฿3.6b | 11.7x | 12.3x | 5.7x |
| Tue, 20 Jun 2023 | ฿46.7b | ฿7.7b | ฿3.6b | 11.9x | 13x | 6.1x |
| Thu, 18 May 2023 | ฿48.2b | ฿7.7b | ฿3.6b | 13.3x | 13.5x | 6.3x |
| Sat, 15 Apr 2023 | ฿48.6b | ฿7.7b | ฿3.6b | 13.4x | 13.5x | 6.3x |
| Mon, 13 Mar 2023 | ฿49.2b | ฿7.7b | ฿3.6b | 13.2x | 13.8x | 6.4x |
| Wed, 08 Feb 2023 | ฿52.5b | ฿7.6b | ฿3.5b | 13.2x | 15x | 6.9x |
| Fri, 06 Jan 2023 | ฿50.6b | ฿7.6b | ฿3.5b | 12.3x | 14.5x | 6.6x |
| Sun, 04 Dec 2022 | ฿50.1b | ฿7.6b | ฿3.5b | 12.2x | 14.3x | 6.6x |
| Tue, 01 Nov 2022 | ฿49.5b | ฿7.5b | ฿3.5b | 12.7x | 13.9x | 6.6x |
| Thu, 29 Sep 2022 | ฿50.2b | ฿7.5b | ฿3.5b | 12.7x | 14.2x | 6.7x |
| Sat, 27 Aug 2022 | ฿50.4b | ฿7.5b | ฿3.5b | 12.7x | 14.2x | 6.7x |
| Mon, 25 Jul 2022 | ฿50.1b | ฿7.5b | ฿3.3b | 12.4x | 15.1x | 6.7x |
| Wed, 22 Jun 2022 | ฿51.8b | ฿7.5b | ฿3.3b | 12.7x | 15.6x | 6.9x |
| Fri, 20 May 2022 | ฿52.5b | ฿7.5b | ฿3.3b | 12.7x | 15.9x | 7x |
| Sun, 17 Apr 2022 | ฿53.9b | ฿7.5b | ฿3.5b | 12x | 15.5x | 7.1x |
| Tue, 15 Mar 2022 | ฿54.2b | ฿7.5b | ฿3.5b | 12x | 15.6x | 7.2x |
| Thu, 10 Feb 2022 | ฿55.2b | ฿7.7b | ฿4.1b | 12.1x | 13.4x | 7.2x |
| Sat, 08 Jan 2022 | ฿55.5b | ฿7.7b | ฿4.1b | 12.3x | 13.5x | 7.2x |
| Mon, 06 Dec 2021 | ฿56.1b | ฿7.7b | ฿4.1b | 12.6x | 13.6x | 7.3x |
| Wed, 03 Nov 2021 | ฿56.1b | ฿7.9b | ฿4.6b | 56.1x | 12.2x | 7.1x |
| Fri, 01 Oct 2021 | ฿54.0b | ฿7.9b | ฿4.6b | 11.6x | 11.7x | 6.9x |
| Sun, 29 Aug 2021 | ฿54.3b | ฿7.9b | ฿4.6b | 11.2x | 11.8x | 6.9x |
| Mon, 05 Jul 2021 | ฿56.2b | ฿7.9b | ฿4.6b | 11.5x | 12.2x | 7.1x |
Price to Earnings Ratio
11.7x
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 13.5x.
- The 3-year average PS ratio of 6.3x is higher than the industry's current PS ratio of 3.9x.
Past Earnings Growth
- The earnings for companies in the Office REITs industry have declined 21% per year over the last three years.
- Meanwhile revenues have remained mostly flat.
- This means that although sales have remained flat, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.
Industry Comparison
How does Thai Office REITs compare with similar industries?
| TH Market | 1.63% | |
| Real Estate | 1.02% | |
| REITS | 1.27% | |
| Office REITs | 0.47% | |
| Diversified REITs | 1.27% | |
| Residential REITs | 0.66% | |
| Retail REITs | 0.27% | |
| Healthcare REITs | 0% | |
| Industrial REITs | -0.076% | |
| Hotel and Resort REITs | -0.58% | |
| Specialized REITs | -1.42% | |
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 | |
|---|---|---|---|---|---|
| POPF Prime Office Leasehold Property Fund | ฿6.45 | 1.6% +฿48.2m | -42.4% | PB0.6x | |
| QHPF Quality Houses Leasehold Property Fund | ฿4.08 | 1.5% +฿47.8m | -44.1% | PB0.4x | |
| WHABT WHA Business Complex Freehold and Leasehold Real Estate Investment Trust | ฿7.90 | 1.3% +฿20.2m | -11.7% | PB0.7x | |
| SPRIME S Prime Growth Leasehold Real Estate Investment Trust | ฿4.40 | 0.5% +฿8.9m | -36.2% | PB0.4x | |
| BKKCP Bangkok Commercial Property Fund | ฿9.00 | 0.6% +฿5.0m | n/a | PB0.7x |