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South African (JSE) Real Estate Sector Analysis

UpdatedFeb 24, 2024
DataAggregated Company Financials
Companies35
  • 7D2.4%
  • 3M14.1%
  • 1Y7.3%
  • YTD4.0%

The Real Estate industry is up 2.4% in the last week, with NEPI Rockcastle up 6.0%. This means that the industry has gained 7.3% over the past year. Looking forward, earnings are expected to remain mostly flat in the next few years.

Sector Valuation and Performance

Has the South African Real Estate Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 25 Feb 2024R340.2bR92.0bR37.2b7.6x9.1x3.7x
Tue, 23 Jan 2024R348.6bR98.1bR39.9b8.7x8.7x3.6x
Thu, 21 Dec 2023R340.0bR97.3bR39.3b8.6x8.7x3.5x
Sat, 18 Nov 2023R316.2bR96.6bR40.0b8.5x7.9x3.3x
Mon, 16 Oct 2023R309.1bR95.9bR46.4b7.8x6.7x3.2x
Wed, 13 Sep 2023R326.4bR95.3bR51.8b7.1x6.3x3.4x
Fri, 11 Aug 2023R340.2bR92.8bR47.0b7.7x7.2x3.7x
Sun, 09 Jul 2023R321.7bR92.8bR47.8b7.6x6.7x3.5x
Tue, 06 Jun 2023R327.6bR91.0bR47.2b8.2x6.9x3.6x
Thu, 04 May 2023R337.9bR88.4bR52.7b6.2x6.4x3.8x
Sat, 01 Apr 2023R318.9bR85.6bR41.0b5.9x7.8x3.7x
Mon, 27 Feb 2023R328.9bR84.0bR43.3b5.8x7.6x3.9x
Wed, 25 Jan 2023R333.8bR82.7bR39.6b6x8.4x4x
Fri, 23 Dec 2022R333.0bR82.2bR39.3b5.9x8.5x4x
Sun, 20 Nov 2022R331.5bR80.7bR39.4b6.3x8.4x4.1x
Tue, 18 Oct 2022R305.4bR80.2bR33.0b7.3x9.3x3.8x
Thu, 15 Sep 2022R321.7bR79.3bR28.4b7.2x11.3x4.1x
Sat, 13 Aug 2022R325.1bR75.0bR28.4b7.5x11.4x4.3x
Mon, 11 Jul 2022R308.8bR75.3bR28.6b7.1x10.8x4.1x
Wed, 08 Jun 2022R317.1bR72.9bR24.3b8.2x13.1x4.3x
Fri, 06 May 2022R321.5bR72.1bR22.6b8.2x14.2x4.5x
Sun, 03 Apr 2022R345.4bR74.0bR20.4b8.7x16.9x4.7x
Tue, 01 Mar 2022R335.9bR78.1bR19.7b8.3x17x4.3x
Thu, 27 Jan 2022R330.7bR76.8bR17.5b8.8x18.9x4.3x
Sat, 25 Dec 2021R342.2bR77.3bR17.6b9x19.4x4.4x
Mon, 22 Nov 2021R331.1bR76.8bR14.8b9.4x22.4x4.3x
Wed, 20 Oct 2021R325.3bR75.1b-R500,318,928.0010.1x-650.2x4.3x
Fri, 17 Sep 2021R324.3bR74.4b-R8,941,699,094.0014.7x-36.3x4.4x
Sun, 15 Aug 2021R318.0bR74.7b-R22,701,899,978.3315.2x-14x4.3x
Thu, 10 Jun 2021R305.8bR74.5b-R36,392,625,259.7215.1x-8.4x4.1x
Wed, 03 Mar 2021R282.0bR75.9b-R51,511,224,826.8812.7x-5.5x3.7x
Price to Earnings Ratio

-5.5x


Total Market Cap: R282.0bTotal Earnings: -R51,511,224,826.88Total Revenue: R75.9bTotal Market Cap vs Earnings and Revenue0%0%0%
South African Real Estate Sector Price to Earnings3Y Average -1.9x202220232024
Current Industry PE
  • Investors are pessimistic on the South African Real Estate 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 9.1x which is higher than its 3-year average PE of -1.9x.
  • The industry is trading close to its 3-year average PS ratio of 4.0x.
Past Earnings Growth
  • Total earnings for the Real Estate industry have gone up over the last three years, and the industry is now profitable. Revenues have grown 6.6% per year.
  • This means that more sales are being generated by the industry overall, and subsequently profits are increasing too.

Industry Trends

Which industries have driven the changes within the South African Real Estate sector?

ZA Market0.078%
Real Estate2.44%
Real Estate3.82%
REITS2.11%
Retail REITs0.58%
Specialized REITs0.57%
Office REITs0.35%
Residential REITs0%
Hotel and Resort REITs0%
Health Care REITs0%
Industrial REITs-1.19%
Industry PE
  • Investors are most optimistic about the Specialized REITs industry which is trading above its 3-year average PE ratio of 8.5x.
    • It looks like they are confident that earnings will grow faster in the future than they have historically.
Forecasted Growth
  • Despite it being negative, analysts are least pessimistic on the Real Estate industry since they expect its earnings to decline by only 0.2% per year over the next 5 years, which isn't as bad as the other industries.
  • This is a reversal from its past annual earnings growth rate of 23% per year.
  • In contrast, the Real Estate industry is expected to see its earnings growth to stay flat over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
NRP NEPI RockcastleR132.836.0%
+R8.1b
21.7%PE8.8x
GRT Growthpoint PropertiesR11.982.6%
+R1.0b
-12.1%PB0.6x
RDF Redefine PropertiesR4.123.0%
+R810.3m
9.9%PB0.5x
LTE Lighthouse PropertiesR7.763.1%
+R390.0m
14.1%PE18.3x
FTA FairvestR16.001.3%
+R298.5m
16.4%PB3.1x
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Latest News

HYP

R32.90

Hyprop Investments

7D

2.2%

1Y

-3.5%

NRP

R132.83

NEPI Rockcastle

7D

6.0%

1Y

21.7%

SAC

R2.46

SA Real Estate

7D

3.4%

1Y

12.8%

EQU

R13.23

Equites Property Fund

7D

-1.2%

1Y

-11.8%

FFA

R15.35

Fortress Real Estate Investments

7D

-0.6%

1Y

46.2%

ACS

R6.70

Acsion

7D

9.8%

1Y

-9.5%

VKE

R14.85

Vukile Property Fund

7D

-0.7%

1Y

13.4%

GRT

R11.98

Growthpoint Properties

7D

2.6%

1Y

-12.1%

RDF

R4.12

Redefine Properties

7D

3.0%

1Y

9.9%

FTA

R16.00

Fairvest

7D

1.3%

1Y

16.4%

SEA

R8.50

Spear Reit

7D

-0.7%

1Y

17.6%

APF

R0.56

Accelerate Property Fund

7D

-6.7%

1Y

-25.3%

DIB

R4.43

Dipula Income Fund

7D

-0.2%

1Y

6.2%

LTE

R7.76

Lighthouse Properties

7D

3.1%

1Y

14.1%

BTN

R7.95

Burstone Group

7D

-0.7%

1Y

-8.0%