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South African (JSE) REITS Industry Analysis

UpdatedDec 06, 2023
DataAggregated Company Financials
Companies16
  • 7D5.8%
  • 3M4.6%
  • 1Y-2.5%
  • YTD-8.3%

Over the last 7 days, the REITS industry has risen 5.8%, driven by gains from every company within the industry. Overall in the last year, the industry is flat. Earnings are forecast to grow by 24% annually.

Industry Valuation and Performance

Has the South African REITS Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 06 Dec 2023R129.9bR43.5bR9.8b8.7x13.2x3x
Fri, 03 Nov 2023R125.3bR42.8bR17.2b8.7x7.3x2.9x
Sun, 01 Oct 2023R125.5bR42.3bR16.8b10x7.5x3x
Tue, 29 Aug 2023R132.5bR41.9bR20.8b9.1x6.4x3.2x
Thu, 27 Jul 2023R131.3bR41.9bR20.8b9x6.3x3.1x
Sat, 24 Jun 2023R126.0bR41.8bR20.9b9x6x3x
Mon, 22 May 2023R129.4bR42.2bR21.5b7.4x6x3.1x
Wed, 19 Apr 2023R136.9bR40.5bR23.6b7.8x5.8x3.4x
Fri, 17 Mar 2023R225.7bR65.3bR27.6b7.2x8.2x3.5x
Sun, 12 Feb 2023R233.8bR64.8bR29.4b6.1x7.9x3.6x
Tue, 10 Jan 2023R240.1bR64.8bR29.3b6.2x8.2x3.7x
Thu, 08 Dec 2022R233.0bR64.8bR29.1b6.4x8x3.6x
Sat, 05 Nov 2022R229.8bR62.8bR23.5b8.2x9.8x3.7x
Mon, 03 Oct 2022R218.6bR63.1bR23.3b7.6x9.4x3.5x
Wed, 31 Aug 2022R234.2bR62.4bR21.9b7.1x10.7x3.8x
Fri, 29 Jul 2022R240.3bR61.0bR21.3b7.4x11.3x3.9x
Sun, 26 Jun 2022R232.4bR60.9bR20.5b7.2x11.3x3.8x
Tue, 24 May 2022R237.0bR59.1bR16.8b7.9x14.1x4x
Thu, 21 Apr 2022R250.6bR58.2bR16.5b8.7x15.2x4.3x
Sat, 19 Mar 2022R253.5bR58.3bR20.0b9.6x12.7x4.3x
Mon, 14 Feb 2022R247.6bR60.0bR14.3b9.2x17.3x4.1x
Wed, 12 Jan 2022R249.5bR58.1bR14.2b9.4x17.6x4.3x
Fri, 10 Dec 2021R244.1bR58.1bR14.2b9.4x17.2x4.2x
Sun, 07 Nov 2021R233.6bR57.2b-R1,060,963,630.0010.1x-220.2x4.1x
Tue, 05 Oct 2021R229.0bR56.9b-R4,275,125,790.0013.9x-53.6x4x
Thu, 02 Sep 2021R235.5bR56.8b-R24,384,644,702.4714.4x-9.7x4.1x
Sat, 31 Jul 2021R221.4bR56.8b-R24,384,644,702.4713.8x-9.1x3.9x
Tue, 04 May 2021R222.8bR56.2b-R34,336,861,702.4713.5x-6.5x4x
Fri, 05 Feb 2021R183.8bR57.2b-R49,637,686,800.2113.2x-3.7x3.2x
Price to Earnings Ratio

-3.8x


Total Market Cap: R189.1bTotal Earnings: -R49,637,686,800.21Total Revenue: R57.2bTotal Market Cap vs Earnings and Revenue0%0%0%
South African REITS Industry Price to Earnings3Y Average 1.3x20222023
Current Industry PE
  • Investors are optimistic on the South African REITs industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 13.2x which is higher than its 3-year average PE of 1.3x.
  • The 3-year average PS ratio of 3.7x is higher than the industry's current PS ratio of 3.0x.
Past Earnings Growth
  • Total earnings for the REITs industry have gone up over the last three years and the industry is now profitable.
  • Revenues have declined 8.7% per year.
  • This means that less sales are being generated overall, but since the cost of doing business is lower, profits have been increasing.

Industry Trends

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

ZA Market-1.18%
Real Estate3.96%
REITS5.79%
Diversified REITs5.99%
Retail REITs3.35%
Industrial REITs2.09%
Residential REITs0%
Specialized REITs0%
Hotel and Resort REITs0%
Healthcare REITs0%
Office REITs-4.17%
Industry PE
  • Investors are most optimistic about the Residential REITs industry which is trading above its 3-year average PE ratio.
    • It looks like they are confident that earnings will grow faster in the future than they have historically.
Forecasted Growth
  • Analysts are most optimistic on the Diversified REITs industry, expecting annual earnings growth of 24% over the next 5 years.
  • This is better than its past earnings decline of 14% per year.
  • In contrast, the Diversified REITs industry is expected to see its earnings grow by 24% 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
GRT Growthpoint PropertiesR11.249.8%
+R3.4b
-19.2%PB0.5x
RDF Redefine PropertiesR3.668.9%
+R2.0b
-5.4%PB0.5x
FTA FairvestR15.003.6%
+R776.2m
10.9%PB2.9x
SAC SA Real EstateR2.2010.0%
+R498.6m
-2.2%PB0.5x
EMI Emira Property FundR9.0010.0%
+R395.2m
-10.0%PB0.5x
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Latest News

SEA

R7.70

Spear Reit

7D

4.1%

1Y

8.5%

FTA

R15.00

Fairvest

7D

3.6%

1Y

10.9%

BTN

R7.85

Burstone Group

7D

4.7%

1Y

-16.2%

EMI

R9.00

Emira Property Fund

7D

10.0%

1Y

-10.0%

SAC

R2.20

SA Real Estate

7D

10.0%

1Y

-2.2%

RDF

R3.66

Redefine Properties

7D

8.9%

1Y

-5.4%

GRT

R11.24

Growthpoint Properties

7D

9.8%

1Y

-19.2%

ATT

R8.89

Attacq

7D

2.8%

1Y

22.3%