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?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Wed, 06 Dec 2023 | R129.9b | R43.5b | R9.8b | 8.7x | 13.2x | 3x |
| Fri, 03 Nov 2023 | R125.3b | R42.8b | R17.2b | 8.7x | 7.3x | 2.9x |
| Sun, 01 Oct 2023 | R125.5b | R42.3b | R16.8b | 10x | 7.5x | 3x |
| Tue, 29 Aug 2023 | R132.5b | R41.9b | R20.8b | 9.1x | 6.4x | 3.2x |
| Thu, 27 Jul 2023 | R131.3b | R41.9b | R20.8b | 9x | 6.3x | 3.1x |
| Sat, 24 Jun 2023 | R126.0b | R41.8b | R20.9b | 9x | 6x | 3x |
| Mon, 22 May 2023 | R129.4b | R42.2b | R21.5b | 7.4x | 6x | 3.1x |
| Wed, 19 Apr 2023 | R136.9b | R40.5b | R23.6b | 7.8x | 5.8x | 3.4x |
| Fri, 17 Mar 2023 | R225.7b | R65.3b | R27.6b | 7.2x | 8.2x | 3.5x |
| Sun, 12 Feb 2023 | R233.8b | R64.8b | R29.4b | 6.1x | 7.9x | 3.6x |
| Tue, 10 Jan 2023 | R240.1b | R64.8b | R29.3b | 6.2x | 8.2x | 3.7x |
| Thu, 08 Dec 2022 | R233.0b | R64.8b | R29.1b | 6.4x | 8x | 3.6x |
| Sat, 05 Nov 2022 | R229.8b | R62.8b | R23.5b | 8.2x | 9.8x | 3.7x |
| Mon, 03 Oct 2022 | R218.6b | R63.1b | R23.3b | 7.6x | 9.4x | 3.5x |
| Wed, 31 Aug 2022 | R234.2b | R62.4b | R21.9b | 7.1x | 10.7x | 3.8x |
| Fri, 29 Jul 2022 | R240.3b | R61.0b | R21.3b | 7.4x | 11.3x | 3.9x |
| Sun, 26 Jun 2022 | R232.4b | R60.9b | R20.5b | 7.2x | 11.3x | 3.8x |
| Tue, 24 May 2022 | R237.0b | R59.1b | R16.8b | 7.9x | 14.1x | 4x |
| Thu, 21 Apr 2022 | R250.6b | R58.2b | R16.5b | 8.7x | 15.2x | 4.3x |
| Sat, 19 Mar 2022 | R253.5b | R58.3b | R20.0b | 9.6x | 12.7x | 4.3x |
| Mon, 14 Feb 2022 | R247.6b | R60.0b | R14.3b | 9.2x | 17.3x | 4.1x |
| Wed, 12 Jan 2022 | R249.5b | R58.1b | R14.2b | 9.4x | 17.6x | 4.3x |
| Fri, 10 Dec 2021 | R244.1b | R58.1b | R14.2b | 9.4x | 17.2x | 4.2x |
| Sun, 07 Nov 2021 | R233.6b | R57.2b | -R1,060,963,630.00 | 10.1x | -220.2x | 4.1x |
| Tue, 05 Oct 2021 | R229.0b | R56.9b | -R4,275,125,790.00 | 13.9x | -53.6x | 4x |
| Thu, 02 Sep 2021 | R235.5b | R56.8b | -R24,384,644,702.47 | 14.4x | -9.7x | 4.1x |
| Sat, 31 Jul 2021 | R221.4b | R56.8b | -R24,384,644,702.47 | 13.8x | -9.1x | 3.9x |
| Tue, 04 May 2021 | R222.8b | R56.2b | -R34,336,861,702.47 | 13.5x | -6.5x | 4x |
| Fri, 05 Feb 2021 | R183.8b | R57.2b | -R49,637,686,800.21 | 13.2x | -3.7x | 3.2x |
Price to Earnings Ratio
-3.8x
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 Estate | 3.96% | |
| REITS | 5.79% | |
| Diversified REITs | 5.99% | |
| Retail REITs | 3.35% | |
| Industrial REITs | 2.09% | |
| Residential REITs | 0% | |
| Specialized REITs | 0% | |
| Hotel and Resort REITs | 0% | |
| Healthcare REITs | 0% | |
| 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?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| GRT Growthpoint Properties | R11.24 | 9.8% +R3.4b | -19.2% | PB0.5x | |
| RDF Redefine Properties | R3.66 | 8.9% +R2.0b | -5.4% | PB0.5x | |
| FTA Fairvest | R15.00 | 3.6% +R776.2m | 10.9% | PB2.9x | |
| SAC SA Real Estate | R2.20 | 10.0% +R498.6m | -2.2% | PB0.5x | |
| EMI Emira Property Fund | R9.00 | 10.0% +R395.2m | -10.0% | PB0.5x |