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Thai (SET) Office REITs Industry Analysis
UpdatedApr 07, 2026
DataAggregated Company Financials
Companies14
- 7D1.0%
- 3M0.9%
- 1Y7.8%
- YTDn/a
Last week, the Office REITs industry hasn't moved much but Bualuang Office Leasehold Real Estate Investment Trust is up 3.7% in that time. As for the the longer term, the industry is up 3.7% 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 |
|---|---|---|---|---|---|---|
| Tue, 07 Apr 2026 | ฿34.2b | ฿7.4b | ฿2.2b | 10.4x | 15.2x | 4.6x |
| Thu, 05 Mar 2026 | ฿33.7b | ฿7.4b | ฿2.0b | 10.3x | 16.7x | 4.5x |
| Sat, 31 Jan 2026 | ฿33.3b | ฿6.3b | ฿1.6b | 10.1x | 20.5x | 5.3x |
| Mon, 29 Dec 2025 | ฿33.2b | ฿6.3b | ฿1.6b | 10.2x | 20.4x | 5.2x |
| Wed, 26 Nov 2025 | ฿32.3b | ฿6.3b | ฿2.3b | 10.3x | 13.8x | 5.1x |
| Fri, 24 Oct 2025 | ฿32.6b | ฿6.5b | ฿2.5b | 10.3x | 13.2x | 5x |
| Sun, 21 Sep 2025 | ฿32.8b | ฿6.5b | ฿2.5b | 10.3x | 13.3x | 5.1x |
| Tue, 19 Aug 2025 | ฿32.2b | ฿6.5b | ฿2.5b | 10.3x | 12.7x | 5x |
| Thu, 17 Jul 2025 | ฿31.5b | ฿6.6b | ฿2.3b | 14.2x | 13.8x | 4.8x |
| Sat, 14 Jun 2025 | ฿32.2b | ฿6.6b | ฿2.3b | 14.7x | 14.1x | 4.9x |
| Mon, 12 May 2025 | ฿32.5b | ฿6.7b | ฿2.0b | 14.7x | 16.1x | 4.8x |
| Wed, 09 Apr 2025 | ฿31.3b | ฿6.7b | ฿2.0b | 15x | 15.5x | 4.7x |
| Fri, 07 Mar 2025 | ฿32.6b | ฿6.7b | ฿2.0b | 15.5x | 16.1x | 4.8x |
| Sun, 02 Feb 2025 | ฿35.1b | ฿8.0b | ฿2.5b | 10.2x | 14x | 4.4x |
| Tue, 31 Dec 2024 | ฿36.1b | ฿8.0b | ฿2.5b | 10.1x | 14.4x | 4.5x |
| Thu, 28 Nov 2024 | ฿35.1b | ฿8.1b | ฿2.6b | 10.3x | 13.4x | 4.4x |
| Sat, 26 Oct 2024 | ฿35.7b | ฿8.1b | ฿2.1b | 10.3x | 16.9x | 4.4x |
| Mon, 23 Sep 2024 | ฿37.4b | ฿8.1b | ฿2.1b | 10.7x | 17.6x | 4.6x |
| Wed, 21 Aug 2024 | ฿30.1b | ฿7.9b | ฿2.0b | 9.7x | 14.7x | 3.8x |
| Fri, 19 Jul 2024 | ฿29.8b | ฿7.9b | ฿1.9b | 15.3x | 15.6x | 3.8x |
| Sun, 16 Jun 2024 | ฿30.0b | ฿7.9b | ฿1.9b | 15.2x | 15.7x | 3.8x |
| Tue, 14 May 2024 | ฿31.6b | ฿7.9b | ฿2.4b | 10.5x | 13.2x | 4x |
| Thu, 11 Apr 2024 | ฿31.2b | ฿7.9b | ฿2.4b | 10.1x | 12.9x | 3.9x |
| Sat, 09 Mar 2024 | ฿32.2b | ฿7.9b | ฿2.4b | 10x | 13.4x | 4.1x |
| Mon, 05 Feb 2024 | ฿35.0b | ฿7.9b | ฿2.4b | 10.7x | 14.5x | 4.4x |
| Wed, 03 Jan 2024 | ฿33.7b | ฿7.9b | ฿2.4b | 10.4x | 14x | 4.3x |
| Fri, 01 Dec 2023 | ฿33.5b | ฿7.9b | ฿2.4b | 10.3x | 13.9x | 4.2x |
| Sun, 29 Oct 2023 | ฿33.4b | ฿7.8b | ฿3.2b | 9.9x | 10.6x | 4.3x |
| Tue, 26 Sep 2023 | ฿35.7b | ฿7.8b | ฿3.2b | 10.9x | 11.3x | 4.6x |
| Thu, 24 Aug 2023 | ฿39.8b | ฿7.8b | ฿3.2b | 11.4x | 12.6x | 5.1x |
| Sat, 22 Jul 2023 | ฿44.1b | ฿7.7b | ฿3.6b | 11.7x | 12.3x | 5.7x |
| Mon, 19 Jun 2023 | ฿46.8b | ฿7.7b | ฿3.6b | 11.9x | 13.1x | 6.1x |
| Wed, 17 May 2023 | ฿48.2b | ฿7.7b | ฿3.6b | 13.4x | 13.6x | 6.3x |
| Fri, 14 Apr 2023 | ฿48.6b | ฿7.7b | ฿3.6b | 13.4x | 13.5x | 6.3x |
Price to Earnings Ratio
13.5x
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 14.5x.
- The industry is trading close to its 3-year average PS ratio of 4.7x.
Past Earnings Growth
- The earnings for companies in the Office REITs industry have declined 15% 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 | 0.51% | |
| Real Estate | 0.71% | |
| REITS | -0.15% | |
| Office REITs | 0.98% | |
| Specialized REITs | 2.83% | |
| Industrial REITs | 1.80% | |
| Retail REITs | 1.49% | |
| Hotel and Resort REITs | 1.25% | |
| Residential REITs | 1.16% | |
| Diversified REITs | -0.15% | |
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 | |
|---|---|---|---|---|---|
| CPTREIT C.P. Tower Leasehold Real Estate Investment Trust | ฿5.60 | 1.8% +฿96.7m | 26.7% | PB0.6x | |
| B-WORK Bualuang Office Leasehold Real Estate Investment Trust | ฿5.60 | 2.8% +฿55.3m | 26.1% | PB0.6x | |
| TPRIME Thailand Prime Property Freehold and Leasehold Real Estate Investment Trust | ฿7.50 | 1.4% +฿54.8m | 12.8% | PB0.6x | |
| POPF Prime Office Leasehold Property Fund | ฿6.95 | 1.5% +฿48.2m | 27.5% | PB0.7x | |
| GVREIT Golden Ventures Leasehold Real Estate Investment Trust | ฿6.45 | 0.8% +฿40.7m | -0.8% | PB0.6x |