Belgian (BEL20) Real Estate Sector Analysis
UpdatedOct 30, 2023
DataAggregated Company Financials
Companies35
- 7D-0.5%
- 3M-14.6%
- 1Y-18.0%
- YTD-20.3%
In the last week, the Real Estate industry is flat overall, with Shurgard Self Storage standing out by going down 3.1%. As for the longer term, the industry has declined 18% in the last year. Looking forward, earnings are forecast to grow by 40% annually.
Sector Valuation and Performance
Has the Belgian Real Estate Sector valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Mon, 30 Oct 2023 | €21.6b | €2.9b | €871.8m | 11.8x | 24.7x | 7.3x |
| Wed, 27 Sep 2023 | €22.4b | €2.9b | €1.1b | 10.7x | 20x | 7.7x |
| Fri, 25 Aug 2023 | €24.0b | €3.0b | €1.3b | 10.9x | 18x | 8x |
| Sun, 23 Jul 2023 | €24.7b | €2.9b | €2.1b | 9.6x | 11.9x | 8.4x |
| Tue, 20 Jun 2023 | €25.0b | €2.9b | €2.1b | 7.7x | 11.9x | 8.5x |
| Thu, 18 May 2023 | €25.7b | €2.9b | €2.2b | 7.7x | 11.5x | 8.8x |
| Sat, 15 Apr 2023 | €26.9b | €2.9b | €2.9b | 7.6x | 9.4x | 9.3x |
| Mon, 13 Mar 2023 | €25.7b | €2.9b | €2.9b | 7x | 8.8x | 8.8x |
| Wed, 08 Feb 2023 | €27.2b | €2.9b | €4.2b | 6.1x | 6.4x | 9.3x |
| Fri, 06 Jan 2023 | €25.7b | €2.9b | €4.7b | 5.8x | 5.4x | 9x |
| Sun, 04 Dec 2022 | €24.9b | €2.9b | €4.7b | 5.7x | 5.3x | 8.7x |
| Tue, 01 Nov 2022 | €24.4b | €2.8b | €4.6b | 5.8x | 5.3x | 8.6x |
| Thu, 29 Sep 2022 | €23.9b | €2.9b | €4.7b | 5.3x | 5.1x | 8.4x |
| Sat, 27 Aug 2022 | €30.3b | €3.0b | €4.7b | 6.5x | 6.5x | 10x |
| Mon, 25 Jul 2022 | €31.0b | €2.9b | €4.1b | 8.2x | 7.5x | 10.8x |
| Wed, 22 Jun 2022 | €30.3b | €2.9b | €4.1b | 8.1x | 7.4x | 10.5x |
| Fri, 20 May 2022 | €32.7b | €2.7b | €3.9b | 8.7x | 8.3x | 12x |
| Sun, 17 Apr 2022 | €37.6b | €2.8b | €3.6b | 11.1x | 10.4x | 13.6x |
| Tue, 15 Mar 2022 | €34.6b | €2.9b | €3.6b | 11x | 9.6x | 12x |
| Thu, 10 Feb 2022 | €33.5b | €2.6b | €2.9b | 12.2x | 11.7x | 12.9x |
| Sat, 08 Jan 2022 | €37.2b | €2.6b | €2.7b | 13.3x | 13.6x | 14.6x |
| Mon, 06 Dec 2021 | €36.0b | €2.5b | €2.7b | 13x | 13.3x | 14.2x |
| Wed, 03 Nov 2021 | €35.4b | €2.5b | €2.7b | 12.8x | 13.3x | 14x |
| Fri, 01 Oct 2021 | €32.6b | €2.5b | €2.4b | 12.5x | 13.5x | 13x |
| Sun, 29 Aug 2021 | €34.6b | €2.5b | €2.4b | 11.9x | 14.3x | 13.7x |
| Mon, 05 Jul 2021 | €30.4b | €2.5b | €2.4b | 11.8x | 12.6x | 12.1x |
| Thu, 08 Apr 2021 | €27.0b | €2.4b | €2.0b | 12.4x | 13.6x | 11.1x |
| Sun, 10 Jan 2021 | €26.0b | €2.4b | €1.6b | 15.7x | 16.2x | 10.9x |
Price to Earnings Ratio
13.8x
Current Industry PE
- Investors are optimistic on the Belgian Real Estate industry, and appear confident in long term growth rates.
- The industry is trading at a PE ratio of 24.7x which is higher than its 3-year average PE of 11.8x.
- The 3-year average PS ratio of 10.8x is higher than the industry's current PS ratio of 7.3x.
Past Earnings Growth
- The earnings for companies in the Real Estate industry have declined 21% per year over the last three years.
- Meanwhile revenues for these companies have grown 7.1% per year.
- This means that although more sales are being generated, 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 Belgian Real Estate sector?
| BE Market | -0.90% | |
| Real Estate | -0.50% | |
| Retail REITs | 2.71% | |
| Residential REITs | 1.08% | |
| Health Care REITs | 0.39% | |
| Industrial REITs | 0.071% | |
| Specialized REITs | 0% | |
| Hotel and Resort REITs | 0% | |
| Office REITs | 0% | |
| REITS | -1.77% | |
| Real Estate | -2.64% | |
Industry PE
- Investors are most optimistic about the Residential REITs industry which is trading above its 3-year average PE ratio of 15.4x.
- Analysts are expecting annual earnings growth of 36.7%, which is higher than its past year's earnings decline of 66.5% per year.
Forecasted Growth
- Analysts are most optimistic on the Industrial REITs industry, expecting annual earnings growth of 81% over the next 5 years.
- This is better than its past earnings decline of 84% per year.
- In contrast, the Retail REITs industry is expected to see its earnings decline by 20% 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 | |
|---|---|---|---|---|---|
| COFB Cofinimmo | €57.45 | 3.8% +€77.2m | -31.6% | PB0.6x | |
| WDP Warehouses De Pauw | €22.84 | 1.0% +€45.6m | -12.1% | PB1.1x | |
| AED Aedifica/SA | €48.98 | 0.9% +€17.7m | -36.6% | PB0.6x | |
| RET Retail Estates | €56.50 | 2.0% +€15.8m | -5.2% | PB0.7x | |
| ASCE Ascencio | €42.65 | 5.6% +€14.8m | -17.0% | PB0.6x |