Turkish (BIST) Real Estate Sector Analysis
UpdatedSep 24, 2023
DataAggregated Company Financials
Companies47
- 7D-0.7%
- 3M51.2%
- 1Y117.2%
- YTD24.4%
Over the last 7 days, the Real Estate industry has remained flat, although notably Torunlar Gayrimenkul Yatirim Ortakligi gained 13%. The past year has been better, since the industry has gained 117% in that time. As for the next few years, earnings are expected to grow by 19% 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 |
|---|---|---|---|---|---|---|
| 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 |
| Thu, 26 Aug 2021 | ₺64.2b | ₺16.4b | ₺6.7b | 15.1x | 9.6x | 3.9x |
| Fri, 02 Jul 2021 | ₺55.7b | ₺16.4b | ₺6.7b | 10.6x | 8.3x | 3.4x |
| Mon, 05 Apr 2021 | ₺58.4b | ₺13.9b | ₺4.9b | 15.1x | 11.8x | 4.2x |
| Thu, 07 Jan 2021 | ₺55.3b | ₺13.6b | ₺3.1b | 18.2x | 17.6x | 4.1x |
| Wed, 30 Sep 2020 | ₺43.1b | ₺12.5b | ₺3.0b | 11.3x | 14.5x | 3.5x |
Price to Earnings Ratio
14.5x
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 2.6x which is lower than its 3-year average PE of 8.9x.
- The 3-year average PS ratio of 6.6x is lower than the industry's current PS ratio of 8.1x.
Past Earnings Growth
- The earnings for companies in the Real Estate industry have grown 258% per year over the last three years.
- Revenues for these companies have grown 53% 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 | 2.86% | |
| Real Estate | -0.67% | |
| Real Estate | 5.43% | |
| Hotel and Resort REITs | 3.64% | |
| Office REITs | 2.69% | |
| Specialized REITs | 0% | |
| Health Care REITs | 0% | |
| Retail REITs | -1.61% | |
| REITS | -1.72% | |
| Industrial REITs | -3.76% | |
| Residential REITs | -4.59% | |
Industry PE
- Investors are most optimistic about the Real Estate industry even though it's trading below its 3-year average PE ratio of 24.5x.
- It looks like they are confident that earnings will grow faster in the future than they have historically.
- Investors are most pessimistic about the Industrial REITs industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 0.92x.
Forecasted Growth
- Analysts are most optimistic on the REITS industry, expecting annual earnings growth of 28% over the next 5 years.
- In contrast, the Industrial REITs industry is expected to see its earnings decline by 12% 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 | |
|---|---|---|---|---|---|
| TRGYO Torunlar Gayrimenkul Yatirim Ortakligi | ₺29.70 | 13.1% +₺3.4b | 246.6% | PB0.8x | |
| DAPGM DAP Gayrimenkul Gelistirme | ₺60.30 | 10.4% +₺2.2b | 195.7% | PE13x | |
| PSGYO Pasifik Gayrimenkul Yatirim Ortakligi | ₺5.94 | 16.5% +₺1.4b | 110.0% | PB1.9x | |
| MIPAZ Milpa Ticari ve Sinai Ürünler Pazarlama Sanayi ve Ticaret | ₺39.92 | 11.8% +₺877.8m | 526.7% | PE6.3x | |
| AKSGY Akis Gayrimenkul Yatirim Ortakligi | ₺12.49 | 8.0% +₺740.6m | 248.9% | PB1x |