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Turkish (BIST) REITS Industry Analysis
UpdatedMay 31, 2025
DataAggregated Company Financials
Companies26
- 7D-3.5%
- 3M6.6%
- 1Y40.9%
- YTD12.5%
Over the last 7 days, the REITS industry has dropped 3.5%, driven by Bati Ege Gayrimenkul Yatirim Ortakligi declining 31%. On the other hand Pera Yatirim Holding Anonim Sirketi is actually up 5.9%. This takes the industry's 12 month performance to a gain of 41%.
Industry Valuation and Performance
Has the Turkish REITS Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Sat, 31 May 2025 | ₺347.4b | ₺46.1b | ₺21.8b | 14.6x | 15.9x | 7.5x |
| Mon, 28 Apr 2025 | ₺362.9b | ₺53.2b | ₺31.9b | 12.1x | 11.4x | 6.8x |
| Wed, 26 Mar 2025 | ₺326.0b | ₺54.7b | ₺28.8b | 11.8x | 11.3x | 6x |
| Fri, 21 Feb 2025 | ₺313.2b | ₺34.8b | ₺47.8b | 5.4x | 6.5x | 9x |
| Sun, 19 Jan 2025 | ₺305.3b | ₺33.5b | ₺48.8b | 4.8x | 6.3x | 9.1x |
| Tue, 17 Dec 2024 | ₺280.4b | ₺31.5b | ₺45.7b | 5.4x | 6.1x | 8.9x |
| Thu, 14 Nov 2024 | ₺261.2b | ₺34.0b | ₺50.0b | 4.3x | 5.2x | 7.7x |
| Sat, 12 Oct 2024 | ₺240.6b | ₺33.4b | ₺41.4b | 4.3x | 5.8x | 7.2x |
| Mon, 09 Sep 2024 | ₺239.8b | ₺32.1b | ₺51.5b | 4.7x | 4.7x | 7.5x |
| Wed, 07 Aug 2024 | ₺236.4b | ₺33.9b | ₺53.9b | 4.3x | 4.4x | 7x |
| Fri, 05 Jul 2024 | ₺251.2b | ₺33.8b | ₺54.5b | 4.5x | 4.6x | 7.4x |
| Sun, 02 Jun 2024 | ₺243.5b | ₺27.6b | ₺49.4b | 5.4x | 4.9x | 8.8x |
| Tue, 30 Apr 2024 | ₺238.2b | ₺21.9b | ₺67.1b | 4.3x | 3.6x | 10.9x |
| Thu, 28 Mar 2024 | ₺215.7b | ₺22.4b | ₺76.3b | 3.6x | 2.8x | 9.6x |
| Sat, 24 Feb 2024 | ₺261.0b | ₺20.3b | ₺91.2b | 3.1x | 2.9x | 12.8x |
| Mon, 22 Jan 2024 | ₺235.4b | ₺20.3b | ₺91.2b | 2.7x | 2.6x | 11.6x |
| Wed, 20 Dec 2023 | ₺196.5b | ₺17.3b | ₺85.2b | 2.3x | 2.3x | 11.4x |
| Fri, 17 Nov 2023 | ₺207.3b | ₺17.0b | ₺83.9b | 2.1x | 2.5x | 12.2x |
| Sun, 15 Oct 2023 | ₺207.0b | ₺16.3b | ₺88.4b | 2.2x | 2.3x | 12.7x |
| Tue, 12 Sep 2023 | ₺200.7b | ₺16.3b | ₺88.4b | 2.3x | 2.3x | 12.3x |
| Thu, 10 Aug 2023 | ₺160.8b | ₺15.9b | ₺82.0b | 2x | 2x | 10.1x |
| Sat, 08 Jul 2023 | ₺130.3b | ₺16.2b | ₺76.0b | 1.8x | 1.7x | 8x |
| Mon, 05 Jun 2023 | ₺111.0b | ₺16.2b | ₺76.0b | 1.6x | 1.5x | 6.8x |
| Wed, 03 May 2023 | ₺92.4b | ₺16.5b | ₺75.3b | 1.4x | 1.2x | 5.6x |
| Fri, 31 Mar 2023 | ₺111.6b | ₺16.8b | ₺75.5b | 1.5x | 1.5x | 6.6x |
| Sun, 26 Feb 2023 | ₺196.5b | ₺26.6b | ₺82.9b | 2.8x | 2.4x | 7.4x |
| Tue, 24 Jan 2023 | ₺205.4b | ₺25.8b | ₺40.7b | 8x | 5.1x | 7.9x |
| Thu, 22 Dec 2022 | ₺222.6b | ₺25.8b | ₺40.7b | 7.1x | 5.5x | 8.6x |
| Sat, 19 Nov 2022 | ₺165.3b | ₺25.8b | ₺40.7b | 5.6x | 4.1x | 6.4x |
| Mon, 17 Oct 2022 | ₺136.1b | ₺23.6b | ₺35.3b | 4.7x | 3.9x | 5.8x |
| Wed, 14 Sep 2022 | ₺161.9b | ₺23.4b | ₺34.9b | 5.8x | 4.6x | 6.9x |
| Fri, 12 Aug 2022 | ₺129.7b | ₺21.3b | ₺27.3b | 7.4x | 4.8x | 6.1x |
| Sun, 10 Jul 2022 | ₺128.5b | ₺20.1b | ₺25.4b | 6.7x | 5.1x | 6.4x |
| Tue, 07 Jun 2022 | ₺105.7b | ₺20.1b | ₺25.2b | 6.6x | 4.2x | 5.2x |
Price to Earnings Ratio
4.2x
Current Industry PE
- Investors are optimistic on the Turkish REITs industry, and appear confident in long term growth rates.
- The industry is trading at a PE ratio of 15.9x which is higher than its 3-year average PE of 5.0x.
- The 3-year average PS ratio of 11.1x is higher than the industry's current PS ratio of 7.5x.
Past Earnings Growth
- The earnings for companies in the REITs industry have declined 4.7% per year over the last three years.
- Meanwhile revenues for these companies have grown 32% per year.
- This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.
Industry Trends
Which industries have driven the changes within the Turkish Real Estate industry?
| TR Market | -3.69% | |
| Real Estate | -3.41% | |
| REITS | -3.46% | |
| Residential REITs | -0.97% | |
| Retail REITs | -1.14% | |
| Diversified REITs | -3.46% | |
| Office REITs | -3.67% | |
| Hotel and Resort REITs | -6.16% | |
| Industrial REITs | -6.34% | |
Industry PE
- Investors are most optimistic about the Diversified REITs industry which is trading above its 3-year average PE ratio of 5.1x.
- 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, which is trading close to its 3-year average of 1.7x.
Forecasted Growth
- Analysts are most optimistic on the Retail REITs industry, expecting annual earnings growth of 11% over the next 5 years.
- This is better than its past earnings decline of 49% per year.
- In contrast, the Retail REITs industry is expected to see its earnings grow by 11% 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 | |
|---|---|---|---|---|---|
| PEHOL Pera Yatirim Holding Anonim Sirketi | ₺15.49 | 5.9% +₺858.2m | 333.7% | PB5.4x | |
| YGYO Yesil Gayrimenkul Yatirim Ortakligi | ₺6.18 | 23.6% +₺310.6m | -39.4% | PB0.1x | |
| NUGYO Nurol Gayrimenkul Yatirim Ortakligi | ₺7.24 | 2.1% +₺50.3m | -6.8% | PB0.4x | |
| OZGYO Ozderici Gayrimenkul Yatirim Ortakligi | ₺5.27 | 1.0% +₺11.3m | -4.0% | PB0.2x | |
| AVGYO Avrasya Gayrimenkul Yatirim Ortakligi Anonim Sirketi | ₺8.56 | 1.1% +₺10.0m | 1.9% | PB0.6x |