Which companies are Shinhan Alpha REIT's closest peers?

The cockpit's peer set: Gladstone Commercial (GOOD), Automotive Properties Real Estate Investment Trust (APR-UN.TO), China Southern SF Express Closed Infrastructure REIT (180305.SZ), TPG RE Finance Trust (TRTX), Testa Residencial Socimi (YTST.MC), ESR Kendall Square REIT (365550.KS), Sunlight Real Estate Investment Trust (0435.HK), Adamas Trust (ADAM).

Is Shinhan Alpha REIT expensive compared with its peers?

On forward p/e it trades at 24.0× against a peer median of 15.9×, 5th most expensive of 15 in its peer set.

How has Shinhan Alpha REIT stock performed?

Over six months to 6 Nov 2026 the shares returned -7.8% against -15.9% for the median peer; over one year +1.4%.

← CockpitCompetitor Analysis › 293940.KS Shinhan Alpha REIT Co., Ltd.Open in the cockpit ↗

Shinhan Alpha REIT Co., Ltd.293940.KSCompetitor analysis, valuation and peers

South Korea · KRW·Real Estate›Real Estate Investment Trusts

Momentum leader 85

Competitor Analysis ▸ Charts Open in the cockpit

Mkt cap

$497M

US dollars, full cap

Free float

93%

of shares outstanding

$/day

$578,222

20-day average traded

Fwd P/E

24.0×

forward earnings

ROIC−WACC

n/a

WACC 5.0%

Hurdle

n/a

no reverse DCF

Close · KRW₩5,580

1D-0.9%

1W-2.5%

1M+0.9%

3M+6.5%

6M-7.8%

YTD-0.2%

1Y+1.4%

ATR %2.2%

52w lowhigh11.0% off high

What Shinhan Alpha REIT does

No business profile yet.

Shinhan Alpha REIT at a glance

Size Shinhan Alpha REIT (293940.KS) is a South Korea Real Estate company (Real Estate Investment Trusts) with a market value of $497M, the 334th largest of 495 South Korea companies the cockpit tracks. Shares closed at ₩5,580 on 6 Nov 2026.

Performance Over six months the shares fell 7.8%, against -15.9% for the median peer and -24.5% for the South Korea market (cap-weighted) — 7th highest of 21 in its peer set.

Growth Revenue grew 45.0% over the last twelve months (peer median +6.5%); the operating margin is 62.6% (peer median 42.4%).

Valuation It trades at 24.0× forward earnings against a peer median of 15.9× (5th most expensive of 15).

Relative performance

Six months, rebased to 100: Shinhan Alpha REIT against the median of its 20 peers (local-currency closes).

Shinhan Alpha REIT financials

Reported figures in KRW; fiscal year ends 2026-03-31. TTM = trailing twelve months.
	TTM	FY2025	FY2024	FY2023	FY2022
Revenue	₩220B	₩168B	₩127B	₩101B	₩101B
Revenue growth	—	+32%	+25%	0%	—
Gross profit	n/a	₩125B	₩91.8B	₩68.4B	₩69.4B
EBITDA	n/a	₩125B	₩92.8B	₩69.8B	₩70.0B
Net income	₩22.1B	₩18.3B	₩12.9B	₩75.9B	₩14.3B
Free cash flow	n/a	₩46.8B	₩32.8B	₩27.2B	₩33.1B
Capital expenditure	n/a	₩0	₩0	₩0	₩0
Total debt	n/a	₩1.39T	₩1.25T	₩1.34T	₩1.37T

Quarterly statements and history in the cockpit →

Shinhan Alpha REIT competitor charts

The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.

Performance: 6-month against 1-month return

Up and to the right = strong over both horizons. Shinhan Alpha REIT is the large dot.

Fundamentals: revenue growth against valuation

Further right = faster growth; higher = more expensive. The dashed lines are the peer medians. Shinhan Alpha REIT is the large dot.

Shinhan Alpha REIT competitors and peer comparison

How Shinhan Alpha REIT compares with its peers

Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.

Shinhan Alpha REIT against its 20 peers (data as of 6 Nov 2026)
Measure	293940.KS	Peer median	Rank in peer set
1-month return	+0.9%	-2.0%	9th highest of 21
6-month return	-7.8%	-15.9%	7th highest of 21
Distance from 52-week high	-11.0%	-26.2%	5th highest of 21
Revenue growth (TTM)	+45.0%	+6.5%	2nd highest of 20
Operating margin	62.6%	42.4%	5th highest of 21
Forward P/E	24.0×	15.9×	5th most expensive of 15

Peer table

Peer set: Industry: the same industry and sector in any market, nearest in size
Company	Market	Market cap	6M return	Revenue growth	Op. margin	Forward P/E	Req g	Delivered g
Shinhan Alpha REIT 293940.KS	South Korea	$497M	-8%	+45%	63%	24.0×	n/a	n/a
Gladstone Commercial GOOD	United States	$497M	-21%	+11%	39%	64.4×	n/a	n/a
Automotive Properties Real Estate Investment Trust APR-UN.TO	Canada	$499M	+11%	+18%	78%	12.5×	n/a	n/a
China Southern SF Express Closed Infrastructure REIT 180305.SZ	China	$490M	-12%	n/a	10%	n/a	n/a	n/a
TPG RE Finance Trust TRTX	United States	$512M	-21%	+6%	73%	6.2×	n/a	n/a
Testa Residencial Socimi YTST.MC	Spain	$482M	+13%	-2%	59%	n/a	n/a	n/a
ESR Kendall Square REIT 365550.KS	South Korea	$513M	-37%	+11%	49%	25.7×	n/a	n/a
Sunlight Real Estate Investment Trust 0435.HK	Hong Kong	$481M	-10%	-5%	65%	n/a	n/a	n/a
Adamas Trust ADAM	United States	$514M	-36%	+35%	58%	5.6×	n/a	n/a
Hudson Pacific Properties HPP	United States	$471M	-22%	+3%	-1%	n/a	n/a	n/a
Dexus Industria REIT DXI.AX	Australia	$525M	+3%	-12%	75%	14.9×	n/a	n/a
NewRiver REIT NRR.L	United Kingdom	$470M	+6%	+45%	39%	10.1×	n/a	n/a
Franklin BSP Realty Trust FBRT	United States	$469M	-32%	-1%	49%	7.3×	n/a	n/a
Rural Funds RFF.AX	Australia	$532M	-1%	+7%	44%	16.9×	n/a	n/a
Hankyu Hanshin REIT 8977.T	Japan	$533M	-19%	-38%	34%	18.4×	n/a	n/a
MIRARTH Real Estate Investment 3492.T	Japan	$461M	-18%	+35%	50%	28.7×	n/a	n/a
One Liberty Properties OLP	United States	$461M	-10%	+11%	34%	54.1×	n/a	n/a
CRE Logistics REIT 3487.T	Japan	$460M	-23%	+23%	41%	17.0×	n/a	n/a
Abacus ABG.AX	Australia	$539M	-13%	-5%	-16%	11.4×	n/a	n/a
Allied Properties Real Estate Investment Trust AP-UN.TO	Canada	$539M	-61%	-5%	36%	n/a	n/a	n/a
China Merchants CMET Closed Infrastructure Real Estate Investment Trust Registered Unit 180203.SZ	China	$541M	0%	+451%	28%	n/a	n/a	n/a

Questions

Which companies are Shinhan Alpha REIT's closest peers?: The cockpit's peer set: Gladstone Commercial (GOOD), Automotive Properties Real Estate Investment Trust (APR-UN.TO), China Southern SF Express Closed Infrastructure REIT (180305.SZ), TPG RE Finance Trust (TRTX), Testa Residencial Socimi (YTST.MC), ESR Kendall Square REIT (365550.KS), Sunlight Real Estate Investment Trust (0435.HK), Adamas Trust (ADAM).
Is Shinhan Alpha REIT expensive compared with its peers?: On forward p/e it trades at 24.0× against a peer median of 15.9×, 5th most expensive of 15 in its peer set.
How has Shinhan Alpha REIT stock performed?: Over six months to 6 Nov 2026 the shares returned -7.8% against -15.9% for the median peer; over one year +1.4%.