Turkish (BIST) REITS Industry Analysis
UpdatedMay 29, 2024
DataAggregated Company Financials
Companies25
- 7D-1.3%
- 3M-3.4%
- 1Y94.4%
- YTD15.1%
Over the last 7 days, the REITS industry has dropped 1.3%, driven by declines in Servet Gayrimenkul Yatirim Ortakligi and Ziraat Gayrimenkul Yatirim Ortakligi of 14% and 5.9%, respectively. In the past year, the industry has gained 94%. As for the next few years, earnings are expected to grow by 53% per annum.
Industry Valuation and Performance
Has the Turkish REITS Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Wed, 29 May 2024 | ₺242.0b | ₺25.9b | ₺50.0b | 5.3x | 4.8x | 9.4x |
| Fri, 26 Apr 2024 | ₺236.0b | ₺21.6b | ₺73.7b | 4x | 3.2x | 10.9x |
| Sun, 24 Mar 2024 | ₺227.8b | ₺22.4b | ₺76.3b | 3.8x | 3x | 10.2x |
| Tue, 20 Feb 2024 | ₺249.6b | ₺20.3b | ₺91.2b | 2.8x | 2.7x | 12.3x |
| Thu, 18 Jan 2024 | ₺233.5b | ₺20.3b | ₺91.2b | 2.8x | 2.6x | 11.5x |
| Sat, 16 Dec 2023 | ₺198.6b | ₺17.2b | ₺84.5b | 2.2x | 2.3x | 11.5x |
| Mon, 13 Nov 2023 | ₺210.8b | ₺16.7b | ₺83.6b | 2x | 2.5x | 12.6x |
| Wed, 11 Oct 2023 | ₺219.8b | ₺16.3b | ₺88.4b | 2.3x | 2.5x | 13.5x |
| Fri, 08 Sep 2023 | ₺201.7b | ₺16.3b | ₺88.4b | 2.2x | 2.3x | 12.4x |
| Sun, 06 Aug 2023 | ₺159.0b | ₺15.9b | ₺82.0b | 2x | 1.9x | 10x |
| Tue, 04 Jul 2023 | ₺122.7b | ₺16.2b | ₺76.0b | 1.8x | 1.6x | 7.6x |
| Thu, 01 Jun 2023 | ₺108.1b | ₺16.2b | ₺76.0b | 1.4x | 1.4x | 6.7x |
| Sat, 29 Apr 2023 | ₺95.7b | ₺16.8b | ₺75.5b | 1.4x | 1.3x | 5.7x |
| Mon, 27 Mar 2023 | ₺111.4b | ₺16.8b | ₺75.5b | 1.6x | 1.5x | 6.6x |
| Wed, 22 Feb 2023 | ₺197.3b | ₺26.2b | ₺71.9b | 3.2x | 2.7x | 7.5x |
| Fri, 20 Jan 2023 | ₺205.1b | ₺25.8b | ₺40.7b | 7.7x | 5x | 7.9x |
| Sun, 18 Dec 2022 | ₺215.2b | ₺25.8b | ₺40.7b | 6.4x | 5.3x | 8.3x |
| Tue, 15 Nov 2022 | ₺166.8b | ₺25.1b | ₺41.0b | 5.4x | 4.1x | 6.7x |
| Thu, 13 Oct 2022 | ₺132.8b | ₺23.6b | ₺35.3b | 4.7x | 3.8x | 5.6x |
| Sat, 10 Sep 2022 | ₺159.1b | ₺23.4b | ₺34.8b | 5.9x | 4.6x | 6.8x |
| Mon, 08 Aug 2022 | ₺133.6b | ₺21.2b | ₺27.1b | 7.2x | 4.9x | 6.3x |
| Wed, 06 Jul 2022 | ₺124.1b | ₺20.1b | ₺25.4b | 6.6x | 4.9x | 6.2x |
| Fri, 03 Jun 2022 | ₺102.6b | ₺20.1b | ₺25.2b | 6.2x | 4.1x | 5.1x |
| Sun, 01 May 2022 | ₺98.6b | ₺17.2b | ₺24.4b | 7.6x | 4x | 5.7x |
| Tue, 29 Mar 2022 | ₺89.4b | ₺17.2b | ₺24.4b | 6.2x | 3.7x | 5.2x |
| Thu, 24 Feb 2022 | ₺79.1b | ₺16.2b | ₺14.1b | 7.7x | 5.6x | 4.9x |
| Sat, 22 Jan 2022 | ₺79.0b | ₺16.3b | ₺8.3b | 13x | 9.6x | 4.8x |
| Mon, 20 Dec 2021 | ₺77.5b | ₺16.3b | ₺8.3b | 11.6x | 9.4x | 4.7x |
| Wed, 17 Nov 2021 | ₺62.8b | ₺16.3b | ₺8.2b | 9.7x | 7.7x | 3.8x |
| Fri, 15 Oct 2021 | ₺55.9b | ₺16.4b | ₺6.5b | 15.1x | 8.6x | 3.4x |
| Sun, 12 Sep 2021 | ₺57.3b | ₺16.4b | ₺6.5b | 15.4x | 8.8x | 3.5x |
| Tue, 10 Aug 2021 | ₺55.2b | ₺16.4b | ₺6.5b | 13.6x | 8.5x | 3.4x |
Price to Earnings Ratio
10.8x
Current Industry PE
- Investors are pessimistic on the Turkish 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 4.8x which is lower than its 3-year average PE of 6.0x.
- The industry is trading close to its 3-year average PS ratio of 10.2x.
Past Earnings Growth
- The earnings for companies in the REITs industry have grown 112% per year over the last three years.
- Revenues for these companies have grown 22% per year.
- This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.
Industry Trends
Which industries have driven the changes within the Turkish Real Estate industry?
| TR Market | -3.98% | |
| Real Estate | -1.99% | |
| REITS | -1.25% | |
| Industrial REITs | 1.97% | |
| Residential REITs | 0.22% | |
| Specialized REITs | 0% | |
| Healthcare REITs | 0% | |
| Hotel and Resort REITs | -0.46% | |
| Diversified REITs | -1.25% | |
| Office REITs | -3.85% | |
| Retail REITs | -3.87% | |
Industry PE
- Investors are most optimistic about the Hotel and Resort REITs industry which is trading above its 3-year average PE ratio of 7.7x.
- 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 Residential REITs industry, expecting annual earnings growth of 94% over the next 5 years.
- This is better than its past earnings decline of 36% per year.
- In contrast, the Diversified REITs industry is expected to see its earnings grow by 53% 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 | |
|---|---|---|---|---|---|
| PSGYO Pasifik Gayrimenkul Yatirim Ortakligi | ₺6.09 | 6.5% +₺606.8m | 41.2% | PB0.8x | |
| TSGYO TSKB Gayrimenkul Yatirim Ortakligi | ₺12.30 | 4.4% +₺338.0m | 173.9% | PB2.4x | |
| FZLGY Fuzul Gayrimenkul Yatirim Ortakligi Anonim Sirketi | ₺13.95 | 7.2% +₺298.9m | n/a | PB2.5x | |
| YGYO Yesil Gayrimenkul Yatirim Ortakligi | ₺9.94 | 5.2% +₺115.2m | 428.7% | PB0.2x | |
| PEGYO PERA Gayrimenkul Yatirim Ortakligi | ₺22.62 | 3.6% +₺111.2m | 224.5% | PB5x |