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Turkish (BIST) Real Estate Sector Analysis

UpdatedSep 20, 2024
DataAggregated Company Financials
Companies54
  • 7D7.0%
  • 3M4.2%
  • 1Y24.6%
  • YTD31.0%

Over the last 7 days, the Real Estate industry has risen 7.0%, driven by gains from Ziraat Gayrimenkul Yatirim Ortakligi of 18%. Meanwhile, Pera Yatirim Holding Anonim Sirketi actually underperformed within the industry, shrinking 36% in the last week. This means that the industry has gained 25% over the past year. As for the next few years, earnings are expected to grow by 59% per annum.

Sector Valuation and Performance

Has the Turkish Real Estate Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 21 Sep 2024₺550.3b₺80.4b₺104.0b5.5x5.3x6.8x
Mon, 19 Aug 2024₺516.9b₺85.5b₺106.4b5.4x4.9x6x
Wed, 17 Jul 2024₺556.0b₺85.1b₺110.4b5.9x5x6.5x
Fri, 14 Jun 2024₺485.8b₺87.1b₺108.1b5.6x4.5x5.6x
Sun, 12 May 2024₺510.4b₺78.5b₺109.8b5x4.6x6.5x
Tue, 09 Apr 2024₺440.0b₺54.9b₺135.5b4.5x3.2x8x
Thu, 07 Mar 2024₺461.4b₺51.5b₺132.1b3.7x3.5x9x
Sat, 03 Feb 2024₺441.8b₺50.0b₺144.1b3.5x3.1x8.8x
Mon, 01 Jan 2024₺15.2t₺49.9b₺143.8b3.1x105.8x304.7x
Wed, 29 Nov 2023₺384.3b₺47.5b₺135.2b2.9x2.8x8.1x
Fri, 27 Oct 2023₺361.6b₺44.5b₺137.6b2.7x2.6x8.1x
Sun, 24 Sep 2023₺360.0b₺44.4b₺136.3b2.5x2.6x8.1x
Tue, 22 Aug 2023₺325.0b₺44.0b₺128.7b2.1x2.5x7.4x
Thu, 20 Jul 2023₺267.8b₺38.2b₺120.9b2x2.2x7x
Sat, 17 Jun 2023₺211.3b₺37.7b₺120.8b1.8x1.7x5.6x
Mon, 15 May 2023₺171.4b₺33.1b₺118.7b1.4x1.4x5.2x
Wed, 12 Apr 2023₺195.9b₺31.9b₺117.5b1.6x1.7x6.1x
Fri, 10 Mar 2023₺403.4b₺28.6b₺97.8b2.2x4.1x14.1x
Sun, 05 Feb 2023₺206.7b₺27.1b₺53.5b4.9x3.9x7.6x
Tue, 03 Jan 2023₺262.3b₺26.2b₺42.6b7.5x6.2x10x
Thu, 01 Dec 2022₺218.4b₺26.2b₺42.6b6.8x5.1x8.3x
Sat, 29 Oct 2022₺172.1b₺23.9b₺35.9b6.7x4.8x7.2x
Mon, 26 Sep 2022₺147.2b₺23.8b₺35.9b5.7x4.1x6.2x
Wed, 24 Aug 2022₺151.9b₺23.4b₺35.4b6.8x4.3x6.5x
Fri, 22 Jul 2022₺148.6b₺20.2b₺25.9b8x5.7x7.3x
Sun, 19 Jun 2022₺133.7b₺20.3b₺25.7b7.2x5.2x6.6x
Tue, 17 May 2022₺131.4b₺20.2b₺25.7b6.7x5.1x6.5x
Thu, 14 Apr 2022₺122.6b₺17.3b₺24.9b7.4x4.9x7.1x
Sat, 12 Mar 2022₺97.7b₺17.8b₺19.1b5.9x5.1x5.5x
Mon, 07 Feb 2022₺93.3b₺16.5b₺11.9b12.2x7.8x5.6x
Wed, 05 Jan 2022₺88.9b₺16.4b₺8.4b13.3x10.6x5.4x
Fri, 03 Dec 2021₺83.3b₺16.4b₺8.4b13.4x9.9x5.1x
Sun, 31 Oct 2021₺70.3b₺16.5b₺6.8b15.3x10.4x4.3x
Tue, 28 Sep 2021₺64.0b₺16.4b₺6.7b14.7x9.5x3.9x
Price to Earnings Ratio

9.5x


Total Market Cap: ₺64.0bTotal Earnings: ₺6.7bTotal Revenue: ₺16.4bTotal Market Cap vs Earnings and Revenue0%0%0%
Turkish Real Estate Sector Price to Earnings3Y Average 5.9x202220232024
Current Industry PE
  • Investors are pessimistic on the Turkish Real Estate industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 5.3x which is lower than its 3-year average PE of 5.9x.
  • The 3-year average PS ratio of 8.7x is higher than the industry's current PS ratio of 6.8x.
Past Earnings Growth
  • The earnings for companies in the Real Estate industry have grown 149% per year over the last three years.
  • Revenues for these companies have grown 70% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

Which industries have driven the changes within the Turkish Real Estate sector?

TR Market3.74%
Real Estate6.95%
Hotel and Resort REITs12.85%
Industrial REITs12.58%
Office REITs11.84%
REITS7.53%
Residential REITs5.70%
Retail REITs5.52%
Real Estate2.45%
Specialized REITs0%
Health Care REITs0%
Industry PE
  • Investors are most optimistic about the Residential REITs industry which is trading above its 3-year average PE ratio of 14.2x.
    • Analysts are expecting annual earnings growth of 95.9%, which is higher than its past year's earnings decline of 81.5% per year.
Forecasted Growth
  • Analysts are most optimistic on the Residential REITs industry, expecting annual earnings growth of 96% over the next 5 years.
  • This is better than its past earnings decline of 81% per year.
  • In contrast, the REITS industry is expected to see its earnings grow by 27% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
ZRGYO Ziraat Gayrimenkul Yatirim Ortakligi₺8.9018.0%
+₺6.4b
71.2%PB0.9x
RYGYO Reysas Gayrimenkul Yatirim Ortakligi₺12.7913.9%
+₺3.1b
108.5%PB0.7x
TRGYO Torunlar Gayrimenkul Yatirim Ortakligi₺52.956.0%
+₺3.0b
78.3%PB0.6x
SRVGY Servet Gayrimenkul Yatirim Ortakligi₺365.0016.3%
+₺2.7b
39.3%PB1.1x
EKGYO Emlak Konut Gayrimenkul Yatirim Ortakligi₺11.795.7%
+₺2.4b
46.8%PB0.6x
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Latest News

SRVGY

₺365.00

Servet Gayrimenkul Yatirim Ortakligi

7D

16.3%

1Y

39.3%

DAPGM

₺6.10

DAP Gayrimenkul Gelistirme

7D

16.2%

1Y

-35.2%

ZRGYO

₺8.90

Ziraat Gayrimenkul Yatirim Ortakligi

7D

18.0%

1Y

71.2%

PEHOL

₺2.96

Pera Yatirim Holding Anonim Sirketi

7D

-35.8%

1Y

165.3%

RYGYO

₺12.79

Reysas Gayrimenkul Yatirim Ortakligi

7D

13.9%

1Y

108.5%

TDGYO

₺9.50

Trend Gayrimenkul Yatirim Ortakligi

7D

-16.3%

1Y

-16.3%

LYDHO

₺126.00

Lydia Holding

7D

-3.5%

1Y

215.6%

ALGYO

₺21.32

Alarko Gayrimenkul Yatirim Ortakligi

7D

-1.6%

1Y

-2.9%

TRGYO

₺52.95

Torunlar Gayrimenkul Yatirim Ortakligi

7D

6.0%

1Y

78.3%

BEGYO

₺3.28

Bati Ege Gayrimenkul Yatirim Ortakligi

7D

-0.9%

1Y

n/a