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Thai (SET) Office REITs Industry Analysis
UpdatedJan 28, 2025
DataAggregated Company Financials
Companies14
- 7D0.08%
- 3M-3.1%
- 1Y-7.5%
- YTDn/a
Over the last 7 days, the Office REITs industry has remained flat, although notably Thailand Prime Property Freehold and Leasehold Real Estate Investment Trust gained 3.3%. Unfortunately though, the industry is down 5.5% over the past 12 months. As for the next few years, earnings are expected to grow by 41% 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 |
|---|---|---|---|---|---|---|
| Wed, 29 Jan 2025 | ฿35.3b | ฿8.0b | ฿2.5b | 10.2x | 14.1x | 4.4x |
| Fri, 27 Dec 2024 | ฿35.7b | ฿8.0b | ฿2.5b | 10.1x | 14.2x | 4.5x |
| Sun, 24 Nov 2024 | ฿35.0b | ฿8.1b | ฿2.6b | 10.2x | 13.3x | 4.3x |
| Tue, 22 Oct 2024 | ฿36.1b | ฿8.1b | ฿2.1b | 10.4x | 17x | 4.5x |
| Thu, 19 Sep 2024 | ฿34.1b | ฿7.9b | ฿2.0b | 10.6x | 16.7x | 4.3x |
| Sat, 17 Aug 2024 | ฿29.9b | ฿7.9b | ฿2.0b | 9.6x | 14.6x | 3.8x |
| Mon, 15 Jul 2024 | ฿29.5b | ฿7.9b | ฿1.9b | 15.3x | 15.4x | 3.7x |
| Wed, 12 Jun 2024 | ฿30.4b | ฿7.9b | ฿2.2b | 10x | 13.6x | 3.8x |
| Fri, 10 May 2024 | ฿31.7b | ฿7.9b | ฿2.4b | 10.1x | 13.1x | 4x |
| Sun, 07 Apr 2024 | ฿31.1b | ฿7.9b | ฿2.4b | 10.2x | 12.9x | 3.9x |
| Tue, 05 Mar 2024 | ฿32.8b | ฿7.9b | ฿2.4b | 10.3x | 13.6x | 4.1x |
| Thu, 01 Feb 2024 | ฿34.7b | ฿7.9b | ฿2.4b | 10.5x | 14.4x | 4.4x |
| Sat, 30 Dec 2023 | ฿33.9b | ฿7.9b | ฿2.4b | 10.3x | 14.1x | 4.3x |
| Mon, 27 Nov 2023 | ฿34.0b | ฿7.9b | ฿2.5b | 10.3x | 13.6x | 4.3x |
| Wed, 25 Oct 2023 | ฿33.4b | ฿7.8b | ฿3.2b | 10.1x | 10.6x | 4.3x |
| Fri, 22 Sep 2023 | ฿36.2b | ฿7.8b | ฿3.2b | 11.1x | 11.5x | 4.6x |
| Sun, 20 Aug 2023 | ฿40.7b | ฿7.8b | ฿3.2b | 11.5x | 12.9x | 5.2x |
| Tue, 18 Jul 2023 | ฿44.3b | ฿7.7b | ฿3.6b | 11.7x | 12.4x | 5.7x |
| Thu, 15 Jun 2023 | ฿47.1b | ฿7.7b | ฿3.6b | 11.9x | 13.2x | 6.1x |
| Sat, 13 May 2023 | ฿48.6b | ฿7.7b | ฿3.6b | 13.4x | 13.7x | 6.3x |
| Mon, 10 Apr 2023 | ฿48.7b | ฿7.7b | ฿3.6b | 13.3x | 13.5x | 6.3x |
| Wed, 08 Mar 2023 | ฿50.6b | ฿7.7b | ฿3.4b | 12.9x | 14.8x | 6.6x |
| Fri, 03 Feb 2023 | ฿51.9b | ฿7.6b | ฿3.5b | 13.2x | 14.8x | 6.8x |
| Sun, 01 Jan 2023 | ฿50.8b | ฿7.6b | ฿3.5b | 12.4x | 14.5x | 6.7x |
| Tue, 29 Nov 2022 | ฿50.1b | ฿7.6b | ฿3.5b | 12.3x | 14.3x | 6.6x |
| Thu, 27 Oct 2022 | ฿49.5b | ฿7.5b | ฿3.5b | 12.7x | 14x | 6.6x |
| Sat, 24 Sep 2022 | ฿50.5b | ฿7.5b | ฿3.5b | 12.8x | 14.2x | 6.7x |
| Mon, 22 Aug 2022 | ฿50.9b | ฿7.5b | ฿3.5b | 12.8x | 14.4x | 6.8x |
| Wed, 20 Jul 2022 | ฿50.0b | ฿7.5b | ฿3.3b | 12.5x | 15.1x | 6.7x |
| Fri, 17 Jun 2022 | ฿51.9b | ฿7.5b | ฿3.3b | 12.7x | 15.7x | 6.9x |
| Sun, 15 May 2022 | ฿52.6b | ฿7.5b | ฿3.5b | 11.6x | 15.2x | 7x |
| Tue, 12 Apr 2022 | ฿53.7b | ฿7.5b | ฿3.5b | 12x | 15.5x | 7.1x |
| Thu, 10 Mar 2022 | ฿54.1b | ฿7.5b | ฿3.5b | 12x | 15.6x | 7.2x |
| Sat, 05 Feb 2022 | ฿54.7b | ฿7.7b | ฿4.1b | 12.1x | 13.3x | 7.1x |
Price to Earnings Ratio
13.3x
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 14.2x.
- The 3-year average PS ratio of 5.5x is higher than the industry's current PS ratio of 4.4x.
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 | 0.052% | |
| Real Estate | 0.051% | |
| REITS | -0.63% | |
| Office REITs | 0.079% | |
| Retail REITs | 2.76% | |
| Industrial REITs | 0.78% | |
| Healthcare REITs | 0% | 0 |
| Residential REITs | -0.18% | |
| Specialized REITs | -0.21% | |
| Hotel and Resort REITs | -0.44% | |
| Diversified REITs | -0.63% | |
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 | ฿7.60 | 1.3% +฿54.8m | 7.8% | PB0.6x | |
| POPF Prime Office Leasehold Property Fund | ฿6.35 | 1.6% +฿48.2m | -2.3% | PB0.6x | |
| KPNREIT KPN Real Estate Investment Trust | ฿2.50 | 5.9% +฿25.2m | -30.6% | PB0.3x | |
| WHABT WHA Business Complex Freehold and Leasehold Real Estate Investment Trust | ฿7.25 | 0.7% +฿10.1m | -14.2% | PB0.3x | |
| B-WORK Bualuang Office Leasehold Real Estate Investment Trust | ฿4.76 | 0.4% +฿7.4m | 6.3% | PB0.5x |