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Turkish (BIST) REITS Industry Analysis
UpdatedMar 05, 2026
DataAggregated Company Financials
Companies27
- 7D-3.1%
- 3M3.0%
- 1Y37.0%
- YTD0.8%
Over the last 7 days, the REITS industry has dropped 3.1%, driven by Peker Gayrimenkul Yatirim Ortakligi Anonim Sirketi declining 7.7%. Meanwhile, Ahes Gayrimenkul Yatirim Ortakligi Anonim Sirketi actually outperformed within the industry, gaining 16% in the last week. In the past year, the industry has gained 37%.
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 |
|---|---|---|---|---|---|---|
| Thu, 05 Mar 2026 | ₺435.4b | ₺47.6b | ₺26.7b | 20.5x | 16.3x | 9.1x |
| Sat, 31 Jan 2026 | ₺457.0b | ₺48.1b | ₺22.2b | 22.2x | 20.5x | 9.5x |
| Mon, 29 Dec 2025 | ₺430.0b | ₺46.9b | ₺21.8b | 17.9x | 19.7x | 9.2x |
| Wed, 26 Nov 2025 | ₺448.2b | ₺47.6b | ₺24.8b | 19.1x | 18x | 9.4x |
| Fri, 24 Oct 2025 | ₺443.3b | ₺45.9b | ₺27.4b | 13.6x | 16.2x | 9.7x |
| Sun, 21 Sep 2025 | ₺436.2b | ₺45.9b | ₺27.4b | 13.4x | 15.9x | 9.5x |
| Tue, 19 Aug 2025 | ₺428.1b | ₺607.4b | ₺2.0t | 13.8x | 0.2x | 0.7x |
| Thu, 17 Jul 2025 | ₺372.7b | ₺46.1b | ₺21.7b | 19x | 17.1x | 8.1x |
| Sat, 14 Jun 2025 | ₺347.9b | ₺46.1b | ₺21.7b | 17.3x | 16x | 7.5x |
| Mon, 12 May 2025 | ₺361.5b | ₺53.5b | ₺30.6b | 14.7x | 11.8x | 6.8x |
| Wed, 09 Apr 2025 | ₺347.2b | ₺53.2b | ₺31.9b | 11.7x | 10.9x | 6.5x |
| Fri, 07 Mar 2025 | ₺333.3b | ₺44.3b | ₺34.7b | 10.5x | 9.6x | 7.5x |
| Sun, 02 Feb 2025 | ₺308.9b | ₺33.5b | ₺48.8b | 4.8x | 6.3x | 9.2x |
| Tue, 31 Dec 2024 | ₺306.4b | ₺33.5b | ₺48.8b | 5x | 6.3x | 9.1x |
| Thu, 28 Nov 2024 | ₺289.3b | ₺33.5b | ₺49.1b | 4.1x | 5.9x | 8.6x |
| Sat, 26 Oct 2024 | ₺246.7b | ₺33.9b | ₺39.9b | 4.7x | 6.2x | 7.3x |
| Mon, 23 Sep 2024 | ₺259.2b | ₺32.3b | ₺52.2b | 4.2x | 5x | 8x |
| Wed, 21 Aug 2024 | ₺234.4b | ₺34.1b | ₺51.3b | 3.9x | 4.6x | 6.9x |
| Fri, 19 Jul 2024 | ₺254.1b | ₺33.9b | ₺53.9b | 4.6x | 4.7x | 7.5x |
| Sun, 16 Jun 2024 | ₺239.6b | ₺30.1b | ₺53.2b | 4.5x | 4.5x | 8x |
| Tue, 14 May 2024 | ₺237.0b | ₺24.9b | ₺49.6b | 4.6x | 4.8x | 9.5x |
| Thu, 11 Apr 2024 | ₺237.0b | ₺22.4b | ₺74.6b | 4.2x | 3.2x | 10.6x |
| Sat, 09 Mar 2024 | ₺252.8b | ₺21.6b | ₺80.8b | 3.7x | 3.1x | 11.7x |
| Mon, 05 Feb 2024 | ₺246.7b | ₺20.3b | ₺91.2b | 2.8x | 2.7x | 12.1x |
| Wed, 03 Jan 2024 | ₺193.9b | ₺17.3b | ₺85.2b | 2.3x | 2.3x | 11.2x |
| Fri, 01 Dec 2023 | ₺209.7b | ₺17.9b | ₺84.0b | 2.3x | 2.5x | 11.7x |
| Sun, 29 Oct 2023 | ₺202.0b | ₺16.0b | ₺88.2b | 2.1x | 2.3x | 12.6x |
| Tue, 26 Sep 2023 | ₺203.7b | ₺16.3b | ₺88.4b | 2.3x | 2.3x | 12.5x |
| Thu, 24 Aug 2023 | ₺185.9b | ₺16.1b | ₺87.6b | 2x | 2.1x | 11.5x |
| Sat, 22 Jul 2023 | ₺150.4b | ₺16.2b | ₺76.0b | 1.9x | 2x | 9.3x |
| Mon, 19 Jun 2023 | ₺112.3b | ₺16.2b | ₺76.0b | 1.6x | 1.5x | 6.9x |
| Wed, 17 May 2023 | ₺94.6b | ₺16.2b | ₺75.9b | 1.3x | 1.2x | 5.8x |
| Fri, 14 Apr 2023 | ₺110.8b | ₺16.8b | ₺75.5b | 1.6x | 1.5x | 6.6x |
| Sun, 12 Mar 2023 | ₺200.2b | ₺28.2b | ₺95.6b | 2.1x | 2.1x | 7.1x |
Price to Earnings Ratio
2.1x
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 8.2x.
- The 3-year average PS ratio of 11.3x is higher than the industry's current PS ratio of 9.1x.
Past Earnings Growth
- The earnings for companies in the REITs industry have declined 35% per year over the last three years.
- Meanwhile revenues for these companies have grown 19% 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 | -5.46% | |
| Real Estate | -3.40% | |
| REITS | -3.05% | |
| Specialized REITs | 0% | 0 |
| Retail REITs | -1.60% | |
| Industrial REITs | -2.42% | |
| Diversified REITs | -3.05% | |
| Hotel and Resort REITs | -4.87% | |
| Office REITs | -5.72% | |
| Residential REITs | -8.90% | |
Industry PE
- Investors are most optimistic about the Retail REITs industry which is trading above its 3-year average PE ratio of 16.1x.
- 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, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 1.7x.
Forecasted Growth
- Analysts are most optimistic on the Residential REITs industry, expecting annual earnings growth of 5.7% over the next 5 years.
- In contrast, the Residential REITs industry is expected to see its earnings grow by 5.7% 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 | |
|---|---|---|---|---|---|
| AHSGY Ahes Gayrimenkul Yatirim Ortakligi Anonim Sirketi | ₺22.30 | 15.5% +₺2.2b | 282.3% | PB2.3x | |
| KGYO Koray Gayrimenkul Yatirim Ortakligi | ₺7.78 | 8.7% +₺620.0m | 187.9% | PB4.3x | |
| FZLGY Fuzul Gayrimenkul Yatirim Ortakligi Anonim Sirketi | ₺12.90 | 3.0% +₺462.5m | 70.4% | PB3.5x | |
| ALGYO Alarko Gayrimenkul Yatirim Ortakligi | ₺4.89 | 2.3% +₺217.3m | 82.0% | PB0.6x | |
| KLGYO Kiler Gayrimenkul Yatirim Ortakligi | ₺6.27 | 2.3% +₺195.3m | 36.0% | PB0.4x |