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South African (JSE) REITS Industry Analysis

UpdatedNov 27, 2022
DataAggregated Company Financials
Companies33
  • 7D0.1%
  • 3M1.3%
  • 1Y1.0%
  • YTD-8.0%

Last week, the REITS industry hasn't moved much but Fortress REIT is up 3.9% in that time. Furthermore, the industry has been flat for the past year as well. As for the next few years, earnings are forecast to decline by 22% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 27 Nov 2022R239.9bR63.9bR30.0b6.3x8x3.8x
Tue, 25 Oct 2022R229.7bR63.4bR23.3b7.8x9.9x3.6x
Thu, 22 Sep 2022R230.2bR62.9bR22.1b7.7x10.4x3.7x
Sat, 20 Aug 2022R243.0bR62.4bR21.7b7.5x11.2x3.9x
Mon, 18 Jul 2022R231.2bR61.0bR21.2b7x10.9x3.8x
Wed, 15 Jun 2022R229.3bR59.5bR20.0b7.2x11.5x3.9x
Fri, 13 May 2022R241.0bR59.1bR16.7b7.9x14.5x4.1x
Sun, 10 Apr 2022R252.5bR58.1bR15.7b8.2x16x4.3x
Tue, 08 Mar 2022R244.4bR58.7bR15.1b9.4x16.2x4.2x
Thu, 03 Feb 2022R249.0bR60.0bR14.3b9.3x17.4x4.1x
Sat, 01 Jan 2022R251.4bR58.1bR14.2b9.4x17.7x4.3x
Mon, 29 Nov 2021R226.7bR57.6bR12.4b9.4x18.3x3.9x
Wed, 27 Oct 2021R228.3bR57.1b-R2,958,261,474.0010x-77.2x4x
Fri, 24 Sep 2021R234.2bR56.8b-R6,003,270,956.0013.8x-39x4.1x
Sun, 22 Aug 2021R230.0bR56.8b-R24,384,644,702.4714x-9.4x4x
Fri, 09 Jul 2021R223.3bR56.8b-R24,384,644,702.4713.8x-9.2x3.9x
Thu, 01 Apr 2021R202.2bR56.2b-R34,336,861,702.4713.5x-5.9x3.6x
Sun, 03 Jan 2021R189.1bR57.2b-R49,637,686,800.2113.1x-3.8x3.3x
Wed, 07 Oct 2020R161.3bR59.8b-R51,879,630,620.0613x-3.1x2.7x
Tue, 30 Jun 2020R182.0bR62.1b-R41,122,016,030.0213.6x-4.4x2.9x
Fri, 03 Apr 2020R156.9bR64.2b-R14,372,187,922.3714x-10.9x2.4x
Mon, 06 Jan 2020R300.3bR64.7bR12.6b11.8x23.9x4.6x
Price to Earnings Ratio

21.5x


Total Market Cap: R308.1bTotal Earnings: R14.3bTotal Revenue: R64.5bTotal Market Cap vs Earnings and Revenue0%0%0%
South African REITS Industry Price to Earnings3Y Average -0.02x202020212022
Current Industry PE
  • Investors are pessimistic on the South African 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 8.0x which is higher than its 3-year average PE of -0.022x.
  • The industry is trading close to its 3-year average PS ratio of 3.6x.
Past Earnings Growth
  • The earnings for companies in the REITs industry have grown 28% per year over the last three years, while revenues have remained mostly flat.
  • This means that companies overall are more efficiently conducting business since profits are increasing while sales have been flat.

Industry Trends

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

ZA Market0.94%
Real Estate0.88%
REITS0.10%
Residential REITs5.84%
Industrial REITs1.52%
Specialized REITs1.17%
Retail REITs0.37%
Hotel and Resort REITs0%
Healthcare REITs0%
Diversified REITs-0.19%
Office REITs-7.24%
Industry PE
  • Investors are most optimistic about the Industrial REITs industry even though it's trading below its 3-year average PE ratio of 29.4x.
    • 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 Diversified REITs industry since they expect its earnings to decline by only 22% 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 107% per year.
  • In contrast, the Diversified REITs industry is expected to see its earnings decline by 22% 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
FFA Fortress REITR10.833.9%
+R889.9m		-11.1%PB0.9x
GRT Growthpoint PropertiesR14.091.8%
+R851.9m		14.6%PB0.7x
ATT AttacqR7.788.1%
+R409.0m		18.4%PB0.4x
VKE Vukile Property FundR14.662.4%
+R333.3m		22.2%PB0.8x
CVW Castleview Property FundR6.10n/a
R250.4m		22.0%PB1x
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Latest News

RDF

R4.06

Redefine Properties

7D

-5.1%

1Y

-15.4%

VKE

R14.66

Vukile Property Fund

7D

2.4%

1Y

22.2%

SAC

R2.21

SA Real Estate

7D

-1.8%

1Y

1.4%

IPF

R9.55

Investec Property Fund

7D

-4.5%

1Y

-12.1%

GRT

R14.09

Growthpoint Properties

7D

1.8%

1Y

14.6%

ILU

R3.00

Indluplace Properties

7D

13.2%

1Y

-10.4%

DIB

R4.15

Dipula Income Fund

7D

-2.8%

1Y

-5.0%

ATT

R7.78

Attacq

7D

8.1%

1Y

18.4%

MLI

R27.20

Industrials REIT

7D

-2.5%

1Y

-29.3%

L2D

R4.55

Liberty Two Degrees

7D

-2.2%

1Y

4.1%

EQU

R16.68

Equites Property Fund

7D

1.5%

1Y

-19.2%

HYP

R34.80

Hyprop Investments

7D

-0.4%

1Y

10.8%

FFA

R10.83

Fortress REIT

7D

3.9%

1Y

-11.1%

TEX

R2.65

Texton Property Fund

7D

-10.2%

1Y

-24.3%

RES

R54.12

Resilient REIT

7D

0.7%

1Y

0.5%

CVW

R6.10

Castleview Property Fund

7D

n/a

1Y

22.0%