Thai (SET) Office REITs Industry Analysis
UpdatedMay 30, 2024
DataAggregated Company Financials
Companies13
- 7D-1.5%
- 3M-6.2%
- 1Y-35.0%
- YTD-8.2%
Over the last 7 days, the Office REITs industry has dropped 1.5%, driven by a pullback from Golden Ventures Leasehold Real Estate Investment Trust of 4.4%. Overall the industry is down 35% in 12 months. Looking forward, earnings are expected to remain mostly flat in the next few years.
Industry Valuation and Performance
Has the Thai Office REITs Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Fri, 31 May 2024 | ฿30.9b | ฿7.9b | ฿2.2b | 10.3x | 13.9x | 3.9x |
| Sun, 28 Apr 2024 | ฿31.3b | ฿7.9b | ฿2.4b | 10.1x | 13x | 4x |
| Tue, 26 Mar 2024 | ฿31.4b | ฿7.9b | ฿2.4b | 9.9x | 13x | 4x |
| Thu, 22 Feb 2024 | ฿33.1b | ฿7.9b | ฿2.4b | 10.3x | 13.5x | 4.2x |
| Sat, 20 Jan 2024 | ฿34.8b | ฿7.9b | ฿2.4b | 11x | 14.4x | 4.4x |
| Mon, 18 Dec 2023 | ฿33.2b | ฿7.9b | ฿2.4b | 10.4x | 13.8x | 4.2x |
| Wed, 15 Nov 2023 | ฿33.7b | ฿7.9b | ฿3.1b | 10.2x | 11x | 4.3x |
| Fri, 13 Oct 2023 | ฿34.6b | ฿7.8b | ฿3.2b | 10.5x | 11x | 4.4x |
| Sun, 10 Sep 2023 | ฿38.1b | ฿7.8b | ฿3.2b | 11.5x | 12.1x | 4.9x |
| Tue, 08 Aug 2023 | ฿42.6b | ฿7.7b | ฿3.6b | 11.7x | 11.9x | 5.5x |
| Thu, 06 Jul 2023 | ฿44.8b | ฿7.7b | ฿3.6b | 11.8x | 12.5x | 5.8x |
| Sat, 03 Jun 2023 | ฿47.5b | ฿7.7b | ฿3.6b | 12x | 13.3x | 6.2x |
| Mon, 01 May 2023 | ฿48.4b | ฿7.7b | ฿3.6b | 13.4x | 13.4x | 6.3x |
| Wed, 29 Mar 2023 | ฿48.7b | ฿7.7b | ฿3.6b | 13.3x | 13.5x | 6.3x |
Price to Earnings Ratio
13.5x
Current Industry PE
- Investors are relatively neutral on the Thai Office 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 13.0x.
- The 3-year average PS ratio of 4.9x is higher than the industry's current PS ratio of 3.9x.
Past Earnings Growth
- The earnings for companies in the Office REITs industry have declined 15% 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 Thai Real Estate industry?
| TH Market | -1.49% | |
| Real Estate | -2.08% | |
| Office REITs | -1.51% | |
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| BOFFICE Bhiraj Office Leasehold Real Estate Investment Trust | ฿4.86 | 1.7% +฿59.0m | -35.6% | PB0.5x | |
| QHPF Quality Houses Leasehold Property Fund | ฿4.40 | 0.9% +฿31.9m | -38.5% | PB0.4x | |
| BKKCP Bangkok Commercial Property Fund | ฿9.30 | 1.1% +฿10.0m | -13.1% | PB0.7x | |
| SSPF Sala @ Sathorn Property Fund | ฿5.00 | 0.8% +฿6.7m | -28.6% | PB0.4x |