Why We Think Growthpoint Properties Limited's (JSE:GRT) CEO Compensation Is Not Excessive At All
Nov 19
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South African (JSE) REITS Industry Analysis
UpdatedNov 20, 2024
DataAggregated Company Financials
Companies12
- 7D1.5%
- 3M5.2%
- 1Y30.3%
- YTD19.3%
Over the last 7 days, the REITS industry has risen 1.5%, driven by gains from Growthpoint Properties of 1.5%. In the last 12 months, the industry was up 30%.
Industry Valuation and Performance
Has the South African REITS Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Thu, 21 Nov 2024 | R127.2b | R40.9b | R10.3b | 9.4x | 12.3x | 3.1x |
| Sat, 19 Oct 2024 | R127.8b | R40.5b | R8.1b | 9.6x | 15.8x | 3.2x |
| Mon, 16 Sep 2024 | R129.5b | R40.1b | R8.3b | 9.7x | 15.5x | 3.2x |
| Wed, 14 Aug 2024 | R117.1b | R39.5b | R7.4b | 10.2x | 15.9x | 3x |
| Fri, 12 Jul 2024 | R112.8b | R39.5b | R7.4b | 10.1x | 15.3x | 2.9x |
| Sun, 09 Jun 2024 | R103.8b | R39.2b | R7.4b | 9x | 14.1x | 2.6x |
| Tue, 07 May 2024 | R103.1b | R38.8b | R7.7b | 8.6x | 13.4x | 2.7x |
| Thu, 04 Apr 2024 | R103.3b | R38.8b | R7.5b | 9.3x | 13.7x | 2.7x |
| Sat, 02 Mar 2024 | R105.8b | R38.0b | R8.6b | 9.3x | 12.3x | 2.8x |
| Mon, 29 Jan 2024 | R136.2b | R43.5b | R9.8b | 10.1x | 13.8x | 3.1x |
| Wed, 27 Dec 2023 | R133.0b | R43.5b | R9.8b | 9.1x | 13.5x | 3.1x |
| Fri, 24 Nov 2023 | R124.3b | R43.2b | R10.9b | 8.7x | 11.4x | 2.9x |
| Sun, 22 Oct 2023 | R119.2b | R42.8b | R17.1b | 9.9x | 7x | 2.8x |
| Tue, 19 Sep 2023 | R126.9b | R42.1b | R17.0b | 9.1x | 7.5x | 3x |
| Thu, 17 Aug 2023 | R132.4b | R41.9b | R20.8b | 9.1x | 6.4x | 3.2x |
| Sat, 15 Jul 2023 | R128.1b | R41.9b | R20.8b | 8.9x | 6.2x | 3.1x |
| Mon, 12 Jun 2023 | R130.5b | R41.8b | R20.9b | 8.8x | 6.2x | 3.1x |
| Wed, 10 May 2023 | R132.4b | R40.5b | R23.7b | 7.5x | 5.6x | 3.3x |
| Fri, 07 Apr 2023 | R156.2b | R43.8b | R26.9b | 8.7x | 5.8x | 3.6x |
| Sun, 05 Mar 2023 | R230.8b | R65.1b | R29.8b | 6.1x | 7.7x | 3.5x |
| Tue, 31 Jan 2023 | R234.5b | R64.8b | R29.3b | 6x | 8x | 3.6x |
| Thu, 29 Dec 2022 | R241.8b | R64.8b | R29.2b | 6.2x | 8.3x | 3.7x |
| Sat, 26 Nov 2022 | R239.9b | R64.0b | R30.0b | 6.3x | 8x | 3.8x |
| Mon, 24 Oct 2022 | R229.7b | R63.4b | R23.3b | 7.8x | 9.9x | 3.6x |
| Wed, 21 Sep 2022 | R232.5b | R62.9b | R22.1b | 7.9x | 10.5x | 3.7x |
| Fri, 19 Aug 2022 | R245.7b | R61.0b | R21.2b | 7.6x | 11.6x | 4x |
| Sun, 17 Jul 2022 | R231.2b | R61.0b | R21.2b | 7x | 10.9x | 3.8x |
| Tue, 14 Jun 2022 | R229.4b | R59.5b | R20.0b | 7.2x | 11.5x | 3.9x |
| Thu, 12 May 2022 | R241.0b | R59.1b | R16.7b | 7.9x | 14.5x | 4.1x |
| Sat, 09 Apr 2022 | R252.5b | R58.1b | R15.7b | 8.2x | 16x | 4.3x |
| Mon, 07 Mar 2022 | R253.6b | R58.7b | R15.1b | 9.4x | 16.8x | 4.3x |
| Wed, 02 Feb 2022 | R249.8b | R60.0b | R14.3b | 9.4x | 17.5x | 4.2x |
| Fri, 31 Dec 2021 | R251.1b | R58.1b | R14.2b | 9.4x | 17.6x | 4.3x |
| Sun, 28 Nov 2021 | R226.7b | R57.6b | R12.3b | 9.4x | 18.4x | 3.9x |
Price to Earnings Ratio
18.4x
Current Industry PE
- Investors are relatively neutral on the South African REITs industry at the moment, indicating that they anticipate long term growth rates to remain steady.
- The industry is trading close to its 3-year average PE ratio of 11.7x.
- The industry is trading close to its 3-year average PS ratio of 3.4x.
Past Earnings Growth
- The earnings for companies in the REITs industry have declined 5.7% per year over the last three years,
- Revenues have also declined 11% per year.
- This means overall sales from these companies are declining and profits are subsequently falling as well.
Industry Trends
Which industries have driven the changes within the South African Real Estate industry?
| ZA Market | 0.33% | |
| Real Estate | 1.01% | |
| REITS | 1.54% | |
| Diversified REITs | 1.54% | |
| Industrial REITs | 1.29% | |
| Retail REITs | 1.00% | |
| Residential REITs | 0% | |
| Specialized REITs | 0% | |
| Hotel and Resort REITs | 0% | |
| Healthcare REITs | 0% | |
| Office REITs | -2.78% | |
Industry PE
- Investors are most optimistic about the Diversified REITs industry which is trading above its 3-year average PE ratio of 10.5x.
- It looks like they are confident that earnings will grow faster in the future than they have historically.
Forecasted GrowthThere is insufficient data on the sub-industries of this industry.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| GRT Growthpoint Properties | R13.11 | 2.4% +R1.0b | 27.2% | PB0.7x | |
| RDF Redefine Properties | R4.75 | 1.7% +R540.2m | 40.9% | PB0.6x | |
| ATT Attacq | R13.41 | 5.6% +R496.8m | 48.5% | PB0.7x | |
| SAC SA Real Estate | R2.92 | 7.0% +R472.0m | 41.1% | PB0.7x | |
| BTN Burstone Group | R10.07 | 6.0% +R456.7m | 31.1% | PB0.6x |