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South African (JSE) REITS Industry Analysis

UpdatedJun 23, 2026
DataAggregated Company Financials
Companies11
  • 7D1.6%
  • 3M5.9%
  • 1Y34.5%
  • YTD4.7%

The REITS industry is up 1.6% in the last week, with Redefine Properties up 3.8%. In the same time, Emira Property Fund was down 8.0%. This takes the industry's 12 month performance to a gain of 35%.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 23 Jun 2026R161.3bR39.3bR17.8b8.6x9.1x4.1x
Thu, 21 May 2026R155.2bR39.5bR16.4b7.5x9.5x3.9x
Sat, 18 Apr 2026R160.2bR39.3bR14.1b9.4x11.3x4.1x
Mon, 16 Mar 2026R147.9bR39.1bR14.2b9x10.4x3.8x
Wed, 11 Feb 2026R162.4bR39.2bR14.7b8.9x11.1x4.1x
Fri, 09 Jan 2026R156.2bR39.2bR14.7b8.7x10.7x4x
Sun, 07 Dec 2025R150.2bR39.5bR15.6b8.8x9.6x3.8x
Tue, 04 Nov 2025R153.7bR41.4bR15.8b9.7x9.8x3.7x
Thu, 02 Oct 2025R136.9bR41.3bR15.6b8.7x8.8x3.3x
Sat, 30 Aug 2025R137.0bR42.1bR13.3b8.6x10.3x3.3x
Mon, 28 Jul 2025R132.9bR42.1bR13.3b8x10x3.2x
Wed, 25 Jun 2025R127.7bR42.1bR13.3b7.9x9.6x3x
Fri, 23 May 2025R125.0bR42.1bR13.7b7.9x9.1x3x
Sun, 20 Apr 2025R119.0bR41.9bR13.1b7.1x9.1x2.8x
Tue, 18 Mar 2025R122.1bR41.6bR12.7b7.5x9.6x2.9x
Thu, 13 Feb 2025R120.3bR41.0bR10.5b7.6x11.4x2.9x
Sat, 11 Jan 2025R122.6bR41.0bR10.5b7.6x11.7x3x
Mon, 09 Dec 2024R127.1bR41.0bR10.5b7.8x12.1x3.1x
Wed, 06 Nov 2024R126.2bR40.5bR8.1b9.6x15.6x3.1x
Fri, 04 Oct 2024R128.8bR40.5bR8.0b9.1x16.1x3.2x
Sun, 01 Sep 2024R125.1bR39.5bR7.4b10.1x17x3.2x
Tue, 30 Jul 2024R112.7bR39.5bR7.4b10x15.3x2.9x
Thu, 27 Jun 2024R110.3bR39.5bR7.4b10.2x15x2.8x
Sat, 25 May 2024R102.9bR39.3bR7.6b6.3x13.5x2.6x
Mon, 22 Apr 2024R99.5bR38.8bR7.5b9.3x13.2x2.6x
Wed, 20 Mar 2024R106.5bR38.6bR7.0b9.3x15.3x2.8x
Fri, 16 Feb 2024R107.9bR38.0bR8.6b9.3x12.5x2.8x
Sun, 14 Jan 2024R133.4bR43.5bR9.8b9.3x13.6x3.1x
Tue, 12 Dec 2023R128.8bR43.5bR9.8b8.7x13.1x3x
Thu, 09 Nov 2023R125.3bR42.8bR17.1b8.7x7.3x2.9x
Sat, 07 Oct 2023R123.4bR42.3bR17.0b10.1x7.2x2.9x
Mon, 04 Sep 2023R130.7bR41.9bR20.8b8.9x6.3x3.1x
Wed, 02 Aug 2023R134.3bR41.9bR20.8b9x6.5x3.2x
Fri, 30 Jun 2023R124.6bR41.4bR20.8b8.7x6x3x
Price to Earnings Ratio

6x


Total Market Cap: R124.6bTotal Earnings: R20.8bTotal Revenue: R41.4bTotal Market Cap vs Earnings and Revenue0%0%0%
South African REITS Industry Price to Earnings3Y Average 11.2x202420252026
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 9.1x which is lower than its 3-year average PE of 11.2x.
  • The 3-year average PS ratio of 3.2x is lower than the industry's current PS ratio of 4.1x.
Past Earnings Growth
  • The earnings for companies in the REITs industry have declined 5.1% per year over the last three years.
  • Meanwhile revenues have remained mostly flat.
  • This means that although sales have remained flat, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.

Industry Trends

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

ZA Market-1.80%
Real Estate1.29%
REITS1.57%
Office REITs8.92%
Retail REITs2.04%
Industrial REITs1.63%
Diversified REITs1.57%
Residential REITs0%0
Specialized REITs0%0
Hotel and Resort REITs0%0
Industry PE
  • Investors are most optimistic about the Industrial REITs industry which is trading above its 3-year average PE ratio of 4.9x.
    • It looks like they are confident that earnings will grow faster in the future than they have historically.
  • Investors are most pessimistic about the Office REITs industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average.
Forecasted Growth
  • Despite it being negative, analysts are least pessimistic on the Retail REITs industry since they expect its earnings to decline by only 3.9% 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 28% per year.
  • In contrast, the Retail REITs industry is expected to see its earnings decline by 3.9% 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
RDF Redefine PropertiesR6.493.8%
+R1.7b		43.3%PB0.8x
GRT Growthpoint PropertiesR17.652.0%
+R1.2b		32.9%PB0.9x
SAC SA Real EstateR3.632.3%
+R218.9m		22.6%PB0.9x
SEA Spear ReitR13.491.4%
+R79.1m		32.3%PB1x
BTN Burstone GroupR9.801.0%
+R78.6m		21.0%PB0.8x

Latest News

SEA
R13.49
Spear Reit
7D
1.4%
1Y
32.3%
BTN
R9.80
Burstone Group
7D
1.0%
1Y
21.0%
SAC
R3.63
SA Real Estate
7D
2.3%
1Y
22.6%
EMI
R13.62
Emira Property Fund
7D
-8.0%
1Y
26.1%
OAS
R29.40
Oasis Crescent Property Fund
7D
1.4%
1Y
43.4%
OCT
R17.25
Octodec Investments
7D
-0.7%
1Y
68.6%
RDF
R6.49
Redefine Properties
7D
3.8%
1Y
43.3%
GRT
R17.65
Growthpoint Properties
7D
2.0%
1Y
32.9%
ATT
R17.47
Attacq
7D
-1.5%
1Y
24.0%