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Turkish (BIST) REITS Industry Analysis

UpdatedJul 23, 2024
DataAggregated Company Financials
Companies25
  • 7D1.8%
  • 3M10.0%
  • 1Y50.2%
  • YTD23.6%

In the last week, the REITS industry is up 1.4%, with Servet Gayrimenkul Yatirim Ortakligi up 17%. This means that the industry has gained 50% over the past year. As for the next few years, earnings are expected to grow by 46% per annum.

Industry Valuation and Performance

Has the Turkish REITS Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 23 Jul 2024₺259.7b₺33.9b₺53.9b5.2x4.8x7.7x
Thu, 20 Jun 2024₺239.6b₺30.1b₺53.1b4.5x4.5x8x
Sat, 18 May 2024₺246.2b₺25.5b₺49.6b4.7x5x9.7x
Mon, 15 Apr 2024₺237.0b₺22.4b₺74.6b4.2x3.2x10.6x
Wed, 13 Mar 2024₺244.7b₺21.6b₺79.5b3.7x3.1x11.3x
Fri, 09 Feb 2024₺252.4b₺20.3b₺91.2b3x2.8x12.4x
Sun, 07 Jan 2024₺195.3b₺17.3b₺85.2b2.3x2.3x11.3x
Tue, 05 Dec 2023₺207.7b₺17.2b₺84.5b2.2x2.5x12.1x
Thu, 02 Nov 2023₺200.1b₺16.0b₺88.2b2x2.3x12.5x
Sat, 30 Sep 2023₺213.8b₺16.3b₺88.4b2.3x2.4x13.1x
Mon, 28 Aug 2023₺179.6b₺16.1b₺87.6b2.1x2x11.1x
Wed, 26 Jul 2023₺148.4b₺16.2b₺76.0b1.9x2x9.1x
Fri, 23 Jun 2023₺111.1b₺16.2b₺76.0b1.6x1.5x6.9x
Sun, 21 May 2023₺94.6b₺16.2b₺75.9b1.3x1.2x5.8x
Tue, 18 Apr 2023₺106.6b₺16.8b₺75.5b1.5x1.4x6.3x
Thu, 16 Mar 2023₺186.1b₺29.2b₺111.6b1.7x1.7x6.4x
Sat, 11 Feb 2023₺157.3b₺24.6b₺59.4b2.8x2.6x6.4x
Mon, 09 Jan 2023₺213.0b₺25.8b₺40.7b6.9x5.2x8.2x
Wed, 07 Dec 2022₺202.0b₺25.8b₺40.7b5.9x5x7.8x
Fri, 04 Nov 2022₺154.8b₺23.1b₺37.1b5.3x4.2x6.7x
Sun, 02 Oct 2022₺123.1b₺23.6b₺35.3b4.2x3.5x5.2x
Tue, 30 Aug 2022₺136.0b₺23.4b₺34.9b5x3.9x5.8x
Thu, 28 Jul 2022₺141.6b₺20.1b₺25.4b6.7x5.6x7x
Sat, 25 Jun 2022₺105.1b₺20.1b₺25.2b6.9x4.2x5.2x
Mon, 23 May 2022₺99.7b₺20.1b₺25.2b5.9x4x5x
Wed, 20 Apr 2022₺98.4b₺17.2b₺24.4b8x4x5.7x
Fri, 18 Mar 2022₺82.0b₺17.2b₺24.4b6.3x3.4x4.8x
Sun, 13 Feb 2022₺81.4b₺16.6b₺13.9b8.1x5.8x4.9x
Tue, 11 Jan 2022₺80.8b₺16.3b₺8.3b12.5x9.8x4.9x
Thu, 09 Dec 2021₺75.9b₺16.3b₺8.3b12.4x9.2x4.6x
Sat, 06 Nov 2021₺61.6b₺16.8b₺7.3b9.5x8.5x3.7x
Mon, 04 Oct 2021₺54.6b₺16.4b₺6.5b13.8x8.4x3.3x
Wed, 01 Sep 2021₺56.3b₺16.4b₺6.5b13.1x8.6x3.4x
Price to Earnings Ratio

8.5x


Total Market Cap: ₺55.2bTotal Earnings: ₺6.5bTotal Revenue: ₺16.4bTotal Market Cap vs Earnings and Revenue0%0%0%
Turkish REITS Industry Price to Earnings3Y Average 5.7x202220232024
Current Industry PE
  • Investors are pessimistic on the Turkish REITs 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 4.8x which is lower than its 3-year average PE of 5.7x.
  • The 3-year average PS ratio of 10.5x is higher than the industry's current PS ratio of 7.6x.
Past Earnings Growth
  • The earnings for companies in the REITs industry have grown 102% per year over the last three years.
  • Revenues for these companies have grown 27% 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 industry?

TR Market0.83%
Real Estate3.93%
REITS1.78%
Residential REITs7.23%
Industrial REITs5.10%
Office REITs3.20%
Hotel and Resort REITs2.80%
Retail REITs2.38%
Diversified REITs1.78%
Specialized REITs0%
Healthcare REITs0%
Industry PE
  • Investors are most optimistic about the Residential REITs industry which is trading above its 3-year average PE ratio of 5.3x.
    • Analysts are expecting annual earnings growth of 87.2%, which is higher than its past year's earnings decline of 81.5% per year.
  • Investors are most pessimistic about the Industrial REITs industry, which is trading below its 3-year average of 1.7x.
Forecasted Growth
  • Analysts are most optimistic on the Residential REITs industry, expecting annual earnings growth of 87% over the next 5 years.
  • This is better than its past earnings decline of 81% per year.
  • In contrast, the Diversified REITs industry is expected to see its earnings grow by 46% 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
SRVGY Servet Gayrimenkul Yatirim Ortakligi₺374.0017.3%
+₺2.9b
43.0%PB1.1x
AKSGY Akis Gayrimenkul Yatirim Ortakligi₺21.608.5%
+₺1.4b
191.5%PB0.7x
OZKGY Ozak Gayrimenkul Yatirim Ortakligi₺11.853.6%
+₺597.2m
38.2%PB0.4x
PSGYO Pasifik Gayrimenkul Yatirim Ortakligi₺2.106.0%
+₺568.0m
10.9%PB0.7x
ALGYO Alarko Gayrimenkul Yatirim Ortakligi₺53.407.2%
+₺495.5m
61.7%PB0.6x
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Latest News

SRVGY

₺374.00

Servet Gayrimenkul Yatirim Ortakligi

7D

17.3%

1Y

43.0%

AKSGY

₺21.60

Akis Gayrimenkul Yatirim Ortakligi

7D

8.5%

1Y

191.5%

PEKGY

₺6.39

Peker Gayrimenkul Yatirim Ortakligi Anonim Sirketi

7D

-8.6%

1Y

-51.0%

ZRGYO

₺7.39

Ziraat Gayrimenkul Yatirim Ortakligi

7D

-1.1%

1Y

49.6%

BEGYO

₺4.04

Bati Ege Gayrimenkul Yatirim Ortakligi

7D

12.2%

1Y

n/a

NUGYO

₺9.61

Nurol Gayrimenkul Yatirim Ortakligi

7D

6.3%

1Y

31.3%

KGYO

₺30.16

Koray Gayrimenkul Yatirim Ortakligi

7D

-1.8%

1Y

-44.3%

OZKGY

₺11.85

Ozak Gayrimenkul Yatirim Ortakligi

7D

3.6%

1Y

38.2%

ALGYO

₺53.40

Alarko Gayrimenkul Yatirim Ortakligi

7D

7.2%

1Y

61.7%