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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?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Sat, 21 Sep 2024 | ₺550.3b | ₺80.4b | ₺104.0b | 5.5x | 5.3x | 6.8x |
| Mon, 19 Aug 2024 | ₺516.9b | ₺85.5b | ₺106.4b | 5.4x | 4.9x | 6x |
| Wed, 17 Jul 2024 | ₺556.0b | ₺85.1b | ₺110.4b | 5.9x | 5x | 6.5x |
| Fri, 14 Jun 2024 | ₺485.8b | ₺87.1b | ₺108.1b | 5.6x | 4.5x | 5.6x |
| Sun, 12 May 2024 | ₺510.4b | ₺78.5b | ₺109.8b | 5x | 4.6x | 6.5x |
| Tue, 09 Apr 2024 | ₺440.0b | ₺54.9b | ₺135.5b | 4.5x | 3.2x | 8x |
| Thu, 07 Mar 2024 | ₺461.4b | ₺51.5b | ₺132.1b | 3.7x | 3.5x | 9x |
| Sat, 03 Feb 2024 | ₺441.8b | ₺50.0b | ₺144.1b | 3.5x | 3.1x | 8.8x |
| Mon, 01 Jan 2024 | ₺15.2t | ₺49.9b | ₺143.8b | 3.1x | 105.8x | 304.7x |
| Wed, 29 Nov 2023 | ₺384.3b | ₺47.5b | ₺135.2b | 2.9x | 2.8x | 8.1x |
| Fri, 27 Oct 2023 | ₺361.6b | ₺44.5b | ₺137.6b | 2.7x | 2.6x | 8.1x |
| Sun, 24 Sep 2023 | ₺360.0b | ₺44.4b | ₺136.3b | 2.5x | 2.6x | 8.1x |
| Tue, 22 Aug 2023 | ₺325.0b | ₺44.0b | ₺128.7b | 2.1x | 2.5x | 7.4x |
| Thu, 20 Jul 2023 | ₺267.8b | ₺38.2b | ₺120.9b | 2x | 2.2x | 7x |
| Sat, 17 Jun 2023 | ₺211.3b | ₺37.7b | ₺120.8b | 1.8x | 1.7x | 5.6x |
| Mon, 15 May 2023 | ₺171.4b | ₺33.1b | ₺118.7b | 1.4x | 1.4x | 5.2x |
| Wed, 12 Apr 2023 | ₺195.9b | ₺31.9b | ₺117.5b | 1.6x | 1.7x | 6.1x |
| Fri, 10 Mar 2023 | ₺403.4b | ₺28.6b | ₺97.8b | 2.2x | 4.1x | 14.1x |
| Sun, 05 Feb 2023 | ₺206.7b | ₺27.1b | ₺53.5b | 4.9x | 3.9x | 7.6x |
| Tue, 03 Jan 2023 | ₺262.3b | ₺26.2b | ₺42.6b | 7.5x | 6.2x | 10x |
| Thu, 01 Dec 2022 | ₺218.4b | ₺26.2b | ₺42.6b | 6.8x | 5.1x | 8.3x |
| Sat, 29 Oct 2022 | ₺172.1b | ₺23.9b | ₺35.9b | 6.7x | 4.8x | 7.2x |
| Mon, 26 Sep 2022 | ₺147.2b | ₺23.8b | ₺35.9b | 5.7x | 4.1x | 6.2x |
| Wed, 24 Aug 2022 | ₺151.9b | ₺23.4b | ₺35.4b | 6.8x | 4.3x | 6.5x |
| Fri, 22 Jul 2022 | ₺148.6b | ₺20.2b | ₺25.9b | 8x | 5.7x | 7.3x |
| Sun, 19 Jun 2022 | ₺133.7b | ₺20.3b | ₺25.7b | 7.2x | 5.2x | 6.6x |
| Tue, 17 May 2022 | ₺131.4b | ₺20.2b | ₺25.7b | 6.7x | 5.1x | 6.5x |
| Thu, 14 Apr 2022 | ₺122.6b | ₺17.3b | ₺24.9b | 7.4x | 4.9x | 7.1x |
| Sat, 12 Mar 2022 | ₺97.7b | ₺17.8b | ₺19.1b | 5.9x | 5.1x | 5.5x |
| Mon, 07 Feb 2022 | ₺93.3b | ₺16.5b | ₺11.9b | 12.2x | 7.8x | 5.6x |
| Wed, 05 Jan 2022 | ₺88.9b | ₺16.4b | ₺8.4b | 13.3x | 10.6x | 5.4x |
| Fri, 03 Dec 2021 | ₺83.3b | ₺16.4b | ₺8.4b | 13.4x | 9.9x | 5.1x |
| Sun, 31 Oct 2021 | ₺70.3b | ₺16.5b | ₺6.8b | 15.3x | 10.4x | 4.3x |
| Tue, 28 Sep 2021 | ₺64.0b | ₺16.4b | ₺6.7b | 14.7x | 9.5x | 3.9x |
Price to Earnings Ratio
9.5x
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 Market | 3.74% | |
| Real Estate | 6.95% | |
| Hotel and Resort REITs | 12.85% | |
| Industrial REITs | 12.58% | |
| Office REITs | 11.84% | |
| REITS | 7.53% | |
| Residential REITs | 5.70% | |
| Retail REITs | 5.52% | |
| Real Estate | 2.45% | |
| Specialized REITs | 0% | |
| Health Care REITs | 0% | |
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?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| ZRGYO Ziraat Gayrimenkul Yatirim Ortakligi | ₺8.90 | 18.0% +₺6.4b | 71.2% | PB0.9x | |
| RYGYO Reysas Gayrimenkul Yatirim Ortakligi | ₺12.79 | 13.9% +₺3.1b | 108.5% | PB0.7x | |
| TRGYO Torunlar Gayrimenkul Yatirim Ortakligi | ₺52.95 | 6.0% +₺3.0b | 78.3% | PB0.6x | |
| SRVGY Servet Gayrimenkul Yatirim Ortakligi | ₺365.00 | 16.3% +₺2.7b | 39.3% | PB1.1x | |
| EKGYO Emlak Konut Gayrimenkul Yatirim Ortakligi | ₺11.79 | 5.7% +₺2.4b | 46.8% | PB0.6x |