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Thai (SET) Office REITs Industry Analysis
UpdatedAug 30, 2025
DataAggregated Company Financials
Companies14
- 7D-1.8%
- 3M-3.2%
- 1Y-2.2%
- YTDn/a
Over the last 7 days, the Office REITs industry has remained flat, although notably Millionaire Property Fund gained 11%. As for the longer term, the industry has declined 4.1% in the last year.
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 |
|---|---|---|---|---|---|---|
| Sat, 30 Aug 2025 | ฿31.5b | ฿6.5b | ฿2.5b | 9.9x | 12.8x | 4.9x |
| Mon, 28 Jul 2025 | ฿31.6b | ฿6.6b | ฿2.3b | 14.2x | 13.9x | 4.8x |
| Wed, 25 Jun 2025 | ฿30.7b | ฿6.6b | ฿2.3b | 13.6x | 13.5x | 4.6x |
| Fri, 23 May 2025 | ฿32.4b | ฿6.6b | ฿2.3b | 14.5x | 14.2x | 4.9x |
| Sun, 20 Apr 2025 | ฿32.4b | ฿6.7b | ฿2.0b | 15.1x | 16x | 4.8x |
| Tue, 18 Mar 2025 | ฿32.7b | ฿6.7b | ฿2.0b | 15.4x | 16.2x | 4.9x |
| Thu, 13 Feb 2025 | ฿34.4b | ฿8.0b | ฿2.5b | 10x | 13.7x | 4.3x |
| Sat, 11 Jan 2025 | ฿35.5b | ฿8.0b | ฿2.5b | 10.1x | 14.2x | 4.5x |
| Mon, 09 Dec 2024 | ฿36.7b | ฿8.1b | ฿2.6b | 11.2x | 14.3x | 4.5x |
| Wed, 06 Nov 2024 | ฿36.0b | ฿8.1b | ฿2.1b | 10.3x | 17x | 4.4x |
| Fri, 04 Oct 2024 | ฿35.7b | ฿8.1b | ฿2.1b | 10.4x | 16.9x | 4.4x |
| Sun, 01 Sep 2024 | ฿30.1b | ฿7.9b | ฿2.0b | 9.6x | 14.7x | 3.8x |
| Tue, 30 Jul 2024 | ฿29.6b | ฿7.9b | ฿1.9b | 14.9x | 15.4x | 3.7x |
| Thu, 27 Jun 2024 | ฿29.5b | ฿7.9b | ฿1.9b | 15x | 15.4x | 3.7x |
| Sat, 25 May 2024 | ฿31.2b | ฿7.9b | ฿2.2b | 10.3x | 14x | 3.9x |
| Mon, 22 Apr 2024 | ฿30.9b | ฿7.9b | ฿2.4b | 9.9x | 12.8x | 3.9x |
| Wed, 20 Mar 2024 | ฿32.1b | ฿7.9b | ฿2.4b | 10x | 13.3x | 4x |
| Fri, 16 Feb 2024 | ฿33.8b | ฿7.9b | ฿2.4b | 10.6x | 14x | 4.3x |
| Sun, 14 Jan 2024 | ฿34.9b | ฿7.9b | ฿2.4b | 10.9x | 14.5x | 4.4x |
| Tue, 12 Dec 2023 | ฿33.2b | ฿7.9b | ฿2.4b | 10.2x | 13.8x | 4.2x |
| Thu, 09 Nov 2023 | ฿33.8b | ฿7.8b | ฿3.2b | 10.2x | 10.5x | 4.3x |
| Sat, 07 Oct 2023 | ฿34.6b | ฿7.8b | ฿3.2b | 10.4x | 11x | 4.4x |
| Mon, 04 Sep 2023 | ฿38.6b | ฿7.8b | ฿3.2b | 11.6x | 12.2x | 4.9x |
| Wed, 02 Aug 2023 | ฿43.4b | ฿7.7b | ฿3.6b | 11.6x | 12.1x | 5.6x |
| Fri, 30 Jun 2023 | ฿44.9b | ฿7.7b | ฿3.6b | 11.7x | 12.5x | 5.8x |
| Sun, 28 May 2023 | ฿47.8b | ฿7.7b | ฿3.6b | 12x | 13.4x | 6.2x |
| Tue, 25 Apr 2023 | ฿48.3b | ฿7.7b | ฿3.6b | 13.4x | 13.4x | 6.3x |
| Thu, 23 Mar 2023 | ฿48.5b | ฿7.7b | ฿3.6b | 13.4x | 13.5x | 6.3x |
| Sat, 18 Feb 2023 | ฿51.7b | ฿7.6b | ฿3.5b | 13x | 14.8x | 6.8x |
| Mon, 16 Jan 2023 | ฿50.4b | ฿7.6b | ฿3.5b | 12.3x | 14.4x | 6.6x |
| Wed, 14 Dec 2022 | ฿49.9b | ฿7.6b | ฿3.5b | 12.2x | 14.3x | 6.5x |
| Fri, 11 Nov 2022 | ฿50.0b | ฿7.5b | ฿3.5b | 12.8x | 14.4x | 6.7x |
| Sun, 09 Oct 2022 | ฿49.9b | ฿7.5b | ฿3.5b | 12.7x | 14.1x | 6.7x |
| Tue, 06 Sep 2022 | ฿50.7b | ฿7.5b | ฿3.5b | 12.8x | 14.3x | 6.8x |
Price to Earnings Ratio
14.3x
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 14.1x.
- The industry is trading close to its 3-year average PS ratio of 5.0x.
Past Earnings Growth
- The earnings for companies in the Office REITs industry have declined 11% per year over the last three years,
- Revenues have also declined 4.7% 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 | -1.35% | |
| Real Estate | -2.12% | |
| REITS | -1.45% | |
| Office REITs | -1.81% | |
| Residential REITs | 0.51% | |
| Specialized REITs | -0.51% | |
| Industrial REITs | -0.55% | |
| Hotel and Resort REITs | -0.87% | |
| Diversified REITs | -1.45% | |
| Retail REITs | -1.94% | |
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 | ฿6.45 | 1.6% +฿54.8m | 5.7% | PB0.5x | |
| POPF Prime Office Leasehold Property Fund | ฿5.90 | 1.7% +฿48.2m | 3.5% | PB0.6x | |
| BOFFICE Bhiraj Office Leasehold Real Estate Investment Trust | ฿4.90 | 0.8% +฿29.5m | 11.9% | PB0.5x | |
| KPNREIT KPN Real Estate Investment Trust | ฿2.20 | 2.8% +฿10.8m | -16.0% | PB0.2x | |
| SSTRT Sub Sri Thai Real Estate Investment Trust | ฿4.34 | 0.9% +฿7.6m | -6.9% | PB0.5x |