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Turkish (BIST) REITS Industry Analysis
UpdatedJun 05, 2026
DataAggregated Company Financials
Companies28
- 7D1.9%
- 3M7.0%
- 1Y36.0%
- YTD8.8%
Over the last 7 days, the REITS industry has risen 1.6%, driven by gains from Torunlar Gayrimenkul Yatirim Ortakligi of 5.4%. In the last 12 months, the industry was up 36%. As for the next few years, earnings are expected to grow by 40% per annum.
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 |
|---|---|---|---|---|---|---|
| Fri, 05 Jun 2026 | ₺497.6b | ₺58.9b | ₺30.4b | 11x | 16.4x | 8.5x |
| Sun, 03 May 2026 | ₺535.8b | ₺54.9b | ₺24.4b | 12.6x | 21.9x | 9.8x |
| Tue, 31 Mar 2026 | ₺483.1b | ₺53.9b | ₺24.9b | 10.8x | 19.4x | 9x |
| Thu, 26 Feb 2026 | ₺450.2b | ₺48.5b | ₺24.1b | 20.5x | 18.6x | 9.3x |
| Sat, 24 Jan 2026 | ₺460.4b | ₺48.1b | ₺22.2b | 22.9x | 20.7x | 9.6x |
| Mon, 22 Dec 2025 | ₺425.7b | ₺46.6b | ₺22.1b | 20x | 19.3x | 9.1x |
| Wed, 19 Nov 2025 | ₺464.5b | ₺49.6b | ₺26.3b | 17.8x | 17.7x | 9.4x |
| Fri, 17 Oct 2025 | ₺456.7b | ₺45.9b | ₺27.4b | 13.7x | 16.6x | 10x |
| Sun, 14 Sep 2025 | ₺420.5b | ₺46.0b | ₺26.5b | 12.7x | 15.8x | 9.1x |
| Tue, 12 Aug 2025 | ₺415.4b | ₺45.3b | ₺19.5b | 15.1x | 21.3x | 9.2x |
| Thu, 10 Jul 2025 | ₺372.6b | ₺46.1b | ₺21.7b | 15.9x | 17.1x | 8.1x |
| Sat, 07 Jun 2025 | ₺348.7b | ₺46.1b | ₺21.7b | 15.7x | 16x | 7.6x |
| Mon, 05 May 2025 | ₺359.9b | ₺53.5b | ₺31.1b | 11.8x | 11.6x | 6.7x |
| Wed, 02 Apr 2025 | ₺339.4b | ₺53.2b | ₺31.9b | 12x | 10.6x | 6.4x |
| Fri, 28 Feb 2025 | ₺322.6b | ₺36.4b | ₺47.4b | 5.2x | 6.8x | 8.9x |
| Sun, 26 Jan 2025 | ₺312.5b | ₺33.5b | ₺48.8b | 4.7x | 6.4x | 9.3x |
| Tue, 24 Dec 2024 | ₺295.4b | ₺33.5b | ₺48.8b | 4.7x | 6.1x | 8.8x |
| Thu, 21 Nov 2024 | ₺276.7b | ₺33.4b | ₺49.1b | 4.1x | 5.6x | 8.3x |
| Sat, 19 Oct 2024 | ₺239.7b | ₺33.4b | ₺41.4b | 4.3x | 5.8x | 7.2x |
| Mon, 16 Sep 2024 | ₺240.4b | ₺32.1b | ₺51.4b | 4.7x | 4.7x | 7.5x |
| Wed, 14 Aug 2024 | ₺226.4b | ₺33.9b | ₺53.9b | 4x | 4.2x | 6.7x |
| Fri, 12 Jul 2024 | ₺252.2b | ₺33.9b | ₺53.9b | 4.9x | 4.7x | 7.4x |
| Sun, 09 Jun 2024 | ₺235.6b | ₺27.6b | ₺53.6b | 4.7x | 4.4x | 8.5x |
| Tue, 07 May 2024 | ₺241.7b | ₺23.6b | ₺59.9b | 4.3x | 4x | 10.3x |
| Thu, 04 Apr 2024 | ₺214.8b | ₺22.4b | ₺74.6b | 3.7x | 2.9x | 9.6x |
| Sat, 02 Mar 2024 | ₺254.9b | ₺21.6b | ₺80.8b | 3.5x | 3.2x | 11.8x |
| Mon, 29 Jan 2024 | ₺242.4b | ₺20.3b | ₺91.2b | 2.7x | 2.7x | 11.9x |
| Wed, 27 Dec 2023 | ₺180.2b | ₺17.3b | ₺85.2b | 2.2x | 2.1x | 10.4x |
| Fri, 24 Nov 2023 | ₺210.0b | ₺17.9b | ₺84.0b | 2.1x | 2.5x | 11.7x |
| Sun, 22 Oct 2023 | ₺193.8b | ₺16.3b | ₺88.4b | 2.1x | 2.2x | 11.9x |
| Tue, 19 Sep 2023 | ₺191.8b | ₺16.3b | ₺88.4b | 2.1x | 2.2x | 11.8x |
| Thu, 17 Aug 2023 | ₺163.6b | ₺15.8b | ₺81.5b | 1.9x | 2x | 10.4x |
| Sat, 15 Jul 2023 | ₺137.4b | ₺16.2b | ₺76.0b | 1.8x | 1.8x | 8.5x |
| Mon, 12 Jun 2023 | ₺115.6b | ₺16.2b | ₺76.0b | 1.6x | 1.5x | 7.1x |
Price to Earnings Ratio
1.5x
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 16.3x which is higher than its 3-year average PE of 9.7x.
- The 3-year average PS ratio of 11.5x is higher than the industry's current PS ratio of 8.4x.
Past Earnings Growth
- The earnings for companies in the REITs industry have declined 26% per year over the last three years.
- Meanwhile revenues for these companies have grown 54% 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 | 1.39% | |
| Real Estate | 1.10% | |
| REITS | 1.94% | |
| Residential REITs | 4.62% | |
| Office REITs | 3.67% | |
| Industrial REITs | 1.97% | |
| Diversified REITs | 1.94% | |
| Specialized REITs | 0% | 0 |
| Hotel and Resort REITs | -1.35% | |
| Retail REITs | -7.66% | |
Industry PE
- Investors are most optimistic about the Residential REITs industry which is trading above its 3-year average PE ratio of 13.1x.
- Analysts are expecting annual earnings growth of 84.0%, which is higher than its past year's earnings decline of 81.0% per year.
- Investors are most pessimistic about the Office REITs industry, which is trading below its 3-year average of 5.6x.
Forecasted Growth
- Analysts are most optimistic on the Residential REITs industry, expecting annual earnings growth of 84% 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 40% 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 | ₺95.05 | 5.8% +₺5.2b | 55.8% | PB0.7x | |
| ZRGYO Ziraat Gayrimenkul Yatirim Ortakligi | ₺16.95 | 3.4% +₺2.6b | -29.4% | PB0.9x | |
| OZKGY Ozak Gayrimenkul Yatirim Ortakligi | ₺13.71 | 11.3% +₺2.0b | 31.4% | PB0.3x | |
| FZLGY Fuzul Gayrimenkul Yatirim Ortakligi Anonim Sirketi | ₺15.00 | 8.7% +₺1.5b | 68.4% | PB4.2x | |
| PSGYO Pasifik Gayrimenkul Yatirim Ortakligi | ₺3.32 | 5.1% +₺851.8m | 84.4% | PB0.4x |