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Turkish (BIST) REITS Industry Analysis

UpdatedDec 04, 2023
DataAggregated Company Financials
Companies23
  • 7D-1.9%
  • 3M7.1%
  • 1Y61.9%
  • YTD43.5%

Over the last 7 days, the REITS industry has dropped 1.9%, driven by pullbacks in Asce Gayrimenkul Yatirim Ortakligi and Torunlar Gayrimenkul Yatirim Ortakligi of 10% and 3.2%, respectively. On the other hand PERA Gayrimenkul Yatirim Ortakligi is actually up 9.9%. This takes the industry's 12 month performance to a gain of 62%. Looking forward, earnings are forecast to grow by 60% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 05 Dec 2023₺207.5b₺17.9b₺84.0b2.3x2.5x11.6x
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
Thu, 08 Jul 2021₺53.1b₺16.4b₺6.5b8.7x8.1x3.2x
Wed, 31 Mar 2021₺55.4b₺13.9b₺4.9b10.4x11.4x4x
Sat, 02 Jan 2021₺52.5b₺13.5b₺3.3b13.2x16.1x3.9x
Price to Earnings Ratio

16.1x


Total Market Cap: ₺52.5bTotal Earnings: ₺3.3bTotal Revenue: ₺13.5bTotal Market Cap vs Earnings and Revenue0%0%0%
Turkish REITS Industry Price to Earnings3Y Average 7.2x20222023
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 2.5x which is lower than its 3-year average PE of 7.2x.
  • The 3-year average PS ratio of 6.8x is lower than the industry's current PS ratio of 11.6x.
Past Earnings Growth
  • The earnings for companies in the REITs industry have grown 203% per year over the last three years.
  • Revenues for these companies have grown 13% 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 Market-1.39%
Real Estate-2.88%
REITS-1.92%
Industrial REITs14.92%
Specialized REITs0%
Healthcare REITs0%
Office REITs-0.30%
Residential REITs-0.35%
Diversified REITs-1.92%
Retail REITs-2.72%
Hotel and Resort REITs-4.75%
Industry PE
  • Investors are most optimistic about the Residential REITs industry even though it's trading below its 3-year average PE ratio of 5.0x.
    • Analysts are expecting annual earnings growth of 23.9%, which is lower than the prior year's growth of 184.1% per year.
  • Investors are most pessimistic about the Industrial REITs industry, which is trading below its 3-year average of 2.0x.
Forecasted Growth
  • Analysts are most optimistic on the Diversified REITs industry, expecting annual earnings growth of 60% over the next 5 years.
  • However this is lower than its past earnings growth rate of 247% per year.
  • In contrast, the Industrial REITs industry is expected to see its earnings decline by 15% 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
KRGYO Körfez Gayrimenkul Yatirim Ortakligi₺49.1214.0%
+₺398.6m
406.9%PB10.4x
PEGYO PERA Gayrimenkul Yatirim Ortakligi₺16.6613.3%
+₺278.0m
344.3%PB3.7x
TSGYO TSKB Gayrimenkul Yatirim Ortakligi₺6.756.1%
+₺253.5m
13.6%PB1.8x
YGYO Yesil Gayrimenkul Yatirim Ortakligi₺3.3132.4%
+₺190.4m
90.2%PB0.6x
PEKGY Peker Gayrimenkul Yatirim Ortakligi Anonim Sirketi₺31.900.8%
+₺174.2m
762.2%PB10.8x
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Latest News

DGGYO

₺33.20

Dogus Gayrimenkul Yatirim Ortakligi

7D

-9.4%

1Y

103.7%

PEKGY

₺31.90

Peker Gayrimenkul Yatirim Ortakligi Anonim Sirketi

7D

0.8%

1Y

762.2%

PEGYO

₺16.66

PERA Gayrimenkul Yatirim Ortakligi

7D

13.3%

1Y

344.3%

MSGYO

₺14.81

Mistral Gayrimenkul Yatirim Ortakligi

7D

6.6%

1Y

110.4%

AGYO

₺8.61

Atakule Gayrimenkul Yatirim Ortakligi

7D

4.5%

1Y

57.1%

YGYO

₺3.31

Yesil Gayrimenkul Yatirim Ortakligi

7D

32.4%

1Y

90.2%

AKSGY

₺11.17

Akis Gayrimenkul Yatirim Ortakligi

7D

-7.2%

1Y

53.6%

TSGYO

₺6.75

TSKB Gayrimenkul Yatirim Ortakligi

7D

6.1%

1Y

13.6%

ZRGYO

₺4.98

Ziraat Gayrimenkul Yatirim Ortakligi

7D

-2.5%

1Y

-5.1%

ISGYO

₺21.00

Is Gayrimenkul Yatirim Ortakligi

7D

-3.9%

1Y

126.5%