Turkish (BIST) REITS Industry Analysis
- 7D8.8%
- 3M22.4%
- 1Y2.7%
- YTD1.5%
Over the last 7 days, the REITS industry has risen 3.5%, driven by gains from Ziraat Gayrimenkul Yatirim Ortakligi of 14%. Meanwhile, Nurol Gayrimenkul Yatirim Ortakligi actually underperformed within the industry, shrinking 14% in the last week. Despite this gain, the industry's performance has been flat over the past year.
Industry Valuation and Performance
Has the Turkish REITS Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE |
|---|---|---|---|---|
| Sat, 04 Dec 2021 | ₺71.2b | ₺16.3b | ₺8.3b | 11.9x |
| Mon, 01 Nov 2021 | ₺60.0b | ₺16.8b | ₺6.8b | 11.7x |
| Wed, 29 Sep 2021 | ₺54.1b | ₺16.4b | ₺6.5b | 14.5x |
| Fri, 27 Aug 2021 | ₺55.7b | ₺16.4b | ₺6.5b | 12.9x |
| Sat, 03 Jul 2021 | ₺53.1b | ₺16.4b | ₺6.5b | 8.7x |
| Tue, 06 Apr 2021 | ₺55.4b | ₺13.9b | ₺4.9b | 10.4x |
| Fri, 08 Jan 2021 | ₺52.5b | ₺13.5b | ₺3.3b | 13.2x |
| Thu, 01 Oct 2020 | ₺40.4b | ₺12.4b | ₺3.0b | 8x |
| Sun, 05 Jul 2020 | ₺35.0b | ₺10.3b | ₺3.7b | 11.4x |
| Wed, 08 Apr 2020 | ₺22.3b | ₺13.9b | ₺4.5b | 5.7x |
| Tue, 31 Dec 2019 | ₺27.1b | ₺13.9b | ₺4.5b | 6.6x |
| Fri, 04 Oct 2019 | ₺19.2b | ₺10.2b | ₺6.0b | 5.5x |
| Mon, 08 Jul 2019 | ₺16.0b | ₺9.4b | ₺4.5b | 5x |
| Sun, 31 Mar 2019 | ₺18.0b | ₺8.9b | ₺4.4b | 5.1x |
| Wed, 02 Jan 2019 | ₺17.6b | ₺10.1b | ₺5.3b | 4.8x |
4.8x
Current Industry PE: Investors are relatively neutral on the industry at the moment, considering it's trading close to its 3-year average PE ratio of 8.4x. It appears they believe that earnings will grow in-line with historical growth rates.
Past Earnings Growth: The earnings for companies in the REITs industry have grown 31% per year over the last three years, and revenues for these companies have grown 19% 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 REITS industry?
| Hotel and Resort REITs | 33.96% | |
| Industrial REITs | 10.51% | |
| Diversified REITs | 6.99% | |
| Retail REITs | 6.95% | |
| Office REITs | 6.86% | |
| Residential REITs | 6.04% | |
Industry PE: Investors are most optimistic about the Retail REITs industry which is trading above its 3-year average PE ratio of 12.0x. It looks like they are confident that earnings will grow faster in the future than they have historically. Meanwhile, investors are most pessimistic about the Industrial REITs industry. Although, investor sentiment seems to have improved given its trading above its 3-year average of 2.0x.
Forecasted Growth: Analysts are most optimistic on the Residential REITs industry, expecting annual earnings growth of 14% over the next 5 years. This is roughly in line with its past earnings growth rate. Meanwhile, the Diversified REITs industry is expected to see its earnings grow by 6.5% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | 7D | 1Y | Valuation | |
|---|---|---|---|---|
| AKFGY Akfen Gayrimenkul Yatirim Ortakligi | 35.8%+₺1.7b | 71.3% | PB3.1x | |
| ZRGYO Ziraat Gayrimenkul Yatirim Ortakligi | 12.9%+₺1.4b | n/a | PB1.7x | |
| SRVGY Servet Gayrimenkul Yatirim Ortakligi | 12.2%+₺587.7m | 75.5% | PB5.2x | |
| EKGYO Emlak Konut Gayrimenkul Yatirim Ortakligi | 6.8%+₺570.0m | 11.3% | PB0.6x | |
| TRGYO Torunlar Gayrimenkul Yatirim Ortakligi | 7.9%+₺298.2m | 8.5% | PB0.5x |