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South African (JSE) REITS Industry Analysis

UpdatedJul 04, 2026
DataAggregated Company Financials
Companies11
  • 7D-0.3%
  • 3M7.0%
  • 1Y30.1%
  • YTD4.2%

Last week, the REITS industry hasn't moved much but Heriot REIT is up 13% in that time. The past year has been better, since the industry has gained 30% in that time.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 05 Jul 2026R160.4bR39.3bR17.8b8.6x9x4.1x
Tue, 02 Jun 2026R153.9bR39.2bR15.7b8.6x9.8x3.9x
Thu, 30 Apr 2026R152.6bR39.3bR14.1b9.4x10.8x3.9x
Sat, 28 Mar 2026R148.7bR39.3bR14.1b9.1x10.5x3.8x
Mon, 23 Feb 2026R165.1bR39.2bR14.7b9x11.3x4.2x
Wed, 21 Jan 2026R156.9bR39.2bR14.7b8.7x10.7x4x
Fri, 19 Dec 2025R150.3bR39.2bR14.7b8.8x10.3x3.8x
Sun, 16 Nov 2025R147.6bR39.4bR14.5b9.8x10.2x3.7x
Tue, 14 Oct 2025R144.6bR41.3bR15.6b9x9.3x3.5x
Thu, 11 Sep 2025R137.0bR42.1bR13.3b8.5x10.3x3.2x
Sat, 09 Aug 2025R135.0bR42.1bR13.3b8.3x10.2x3.2x
Mon, 07 Jul 2025R130.8bR42.1bR13.3b7.9x9.8x3.1x
Wed, 04 Jun 2025R130.8bR41.7bR13.2b7.9x9.9x3.1x
Fri, 02 May 2025R124.9bR41.9bR12.9b8.9x9.6x3x
Sun, 30 Mar 2025R120.2bR41.9bR13.1b7.1x9.2x2.9x
Tue, 25 Feb 2025R122.2bR41.0bR10.5b7.6x11.6x3x
Thu, 23 Jan 2025R120.3bR41.0bR10.5b7.6x11.4x2.9x
Sat, 21 Dec 2024R124.8bR41.0bR10.5b7.7x11.9x3x
Mon, 18 Nov 2024R126.8bR40.9bR11.7b8.2x10.9x3.1x
Wed, 16 Oct 2024R131.6bR40.5bR8.1b9.6x16.3x3.2x
Fri, 13 Sep 2024R128.1bR39.8bR8.3b9.6x15.3x3.2x
Sun, 11 Aug 2024R117.5bR39.5bR7.4b10.3x16x3x
Tue, 09 Jul 2024R112.5bR39.5bR7.4b10.5x15.3x2.9x
Thu, 06 Jun 2024R104.2bR39.2bR7.4b9.4x14.2x2.7x
Sat, 04 May 2024R103.9bR38.8bR7.7b8.7x13.5x2.7x
Mon, 01 Apr 2024R104.7bR38.8bR7.5b9.3x13.9x2.7x
Wed, 28 Feb 2024R106.4bR38.0bR8.6b9.3x12.3x2.8x
Fri, 26 Jan 2024R135.2bR43.5bR9.8b10.1x13.7x3.1x
Sun, 24 Dec 2023R133.0bR43.5bR9.8b9.1x13.5x3.1x
Tue, 21 Nov 2023R125.8bR43.2bR10.9b8.7x11.6x2.9x
Thu, 19 Oct 2023R121.4bR42.8bR17.1b10x7.1x2.8x
Sat, 16 Sep 2023R127.1bR42.1bR17.0b9.1x7.5x3x
Mon, 14 Aug 2023R135.0bR41.9bR20.8b9x6.5x3.2x
Wed, 12 Jul 2023R127.6bR41.9bR20.8b8.8x6.1x3x
Price to Earnings Ratio

6.1x


Total Market Cap: R127.6bTotal Earnings: R20.8bTotal Revenue: R41.9bTotal 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 9.0x 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,
  • Revenues have also declined 2.1% 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 Market1.26%
Real Estate-0.60%
REITS-0.26%
Residential REITs0%0
Specialized REITs0%0
Hotel and Resort REITs0%0
Diversified REITs-0.26%
Industrial REITs-1.40%
Retail REITs-2.17%
Office REITs-2.61%
Industry PE
  • Investors are most optimistic about the Industrial REITs industry which is trading above its 3-year average PE ratio of 5.1x.
    • 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
HET Heriot REITR26.0013.0%
+R957.8m		62.5%PB1.1x
BTN Burstone GroupR9.531.6%
+R118.0m		16.8%PB0.8x
ATT AttacqR17.510.6%
+R70.0m		22.1%PB0.8x
SAC SA Real EstateR3.690.5%
+R54.7m		19.8%PB0.9x
OCT Octodec InvestmentsR17.150.4%
+R18.6m		66.7%PB0.7x

Latest News

SEA
R12.98
Spear Reit
7D
-2.3%
1Y
26.6%
HET
R26.00
Heriot REIT
7D
13.0%
1Y
62.5%
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Does Heriot REIT (JSE:HET) Deserve A Spot On Your Watchlist?

The excitement of investing in a company that can reverse its fortunes is a big draw for some speculators, so even...
BTN
R9.53
Burstone Group
7D
1.6%
1Y
16.8%
SAC
R3.69
SA Real Estate
7D
0.5%
1Y
19.8%
EMI
R13.10
Emira Property Fund
7D
-3.5%
1Y
19.1%
OCT
R17.15
Octodec Investments
7D
0.4%
1Y
66.7%
RDF
R6.42
Redefine Properties
7D
-0.9%
1Y
37.2%
GRT
R17.41
Growthpoint Properties
7D
-1.5%
1Y
26.3%
ATT
R17.51
Attacq
7D
0.6%
1Y
22.1%