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Canadian (TSX) Real Estate Sector Analysis
UpdatedDec 21, 2024
DataAggregated Company Financials
Companies73
- 7D-2.4%
- 3M-9.7%
- 1Y3.0%
- YTD2.4%
Over the last 7 days, the Real Estate industry has dropped 4.5%, driven by Colliers International Group declining 6.0%. Over the last year, the industry has been flat overall. Looking forward, earnings are forecast to grow by 32% annually.
Sector Valuation and Performance
Has the Canadian Real Estate Sector valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Sat, 21 Dec 2024 | CA$99.3b | CA$32.9b | CA$891.7m | 13.6x | 111.3x | 3x |
| Mon, 18 Nov 2024 | CA$98.6b | CA$32.6b | CA$841.1m | 14.8x | 117.2x | 3x |
| Wed, 16 Oct 2024 | CA$103.6b | CA$31.8b | CA$1.6b | 9.2x | 63x | 3.3x |
| Fri, 13 Sep 2024 | CA$102.4b | CA$31.6b | CA$1.6b | 9.1x | 62.4x | 3.2x |
| Sun, 11 Aug 2024 | CA$94.4b | CA$31.5b | CA$1.7b | 8.7x | 55.4x | 3x |
| Tue, 09 Jul 2024 | CA$88.7b | CA$31.2b | CA$1.8b | 9x | 49.3x | 2.8x |
| Thu, 06 Jun 2024 | CA$88.5b | CA$31.3b | CA$1.8b | 9.3x | 50.2x | 2.8x |
| Sat, 04 May 2024 | CA$88.7b | CA$31.0b | CA$1.1b | 11.6x | 82.2x | 2.9x |
| Mon, 01 Apr 2024 | CA$98.9b | CA$31.8b | CA$1.1b | 11.2x | 88.2x | 3.1x |
| Wed, 28 Feb 2024 | CA$98.0b | CA$31.7b | CA$1.2b | 10.5x | 84.1x | 3.1x |
| Fri, 26 Jan 2024 | CA$102.9b | CA$31.6b | CA$1.6b | 10.4x | 63.1x | 3.3x |
| Sun, 24 Dec 2023 | CA$101.1b | CA$31.4b | CA$1.7b | 9.6x | 60.1x | 3.2x |
| Tue, 21 Nov 2023 | CA$93.7b | CA$31.9b | CA$1.9b | 7.9x | 49.9x | 2.9x |
| Thu, 19 Oct 2023 | CA$91.9b | CA$31.2b | CA$3.3b | 9.6x | 28.2x | 2.9x |
| Sat, 16 Sep 2023 | CA$100.0b | CA$31.0b | CA$3.3b | 10x | 30.7x | 3.2x |
| Mon, 14 Aug 2023 | CA$102.1b | CA$31.7b | CA$3.3b | 8.6x | 31x | 3.2x |
| Wed, 12 Jul 2023 | CA$100.7b | CA$31.2b | CA$4.3b | 6.9x | 23.4x | 3.2x |
| Fri, 09 Jun 2023 | CA$107.2b | CA$31.3b | CA$4.3b | 7x | 24.7x | 3.4x |
| Sun, 07 May 2023 | CA$107.7b | CA$31.1b | CA$7.1b | 7.2x | 15.1x | 3.5x |
| Tue, 04 Apr 2023 | CA$109.6b | CA$31.0b | CA$8.3b | 6.4x | 13.3x | 3.5x |
| Thu, 02 Mar 2023 | CA$115.4b | CA$31.2b | CA$9.9b | 6.8x | 11.6x | 3.7x |
| Sat, 28 Jan 2023 | CA$116.2b | CA$31.0b | CA$13.8b | 5.9x | 8.4x | 3.8x |
| Mon, 26 Dec 2022 | CA$106.0b | CA$31.4b | CA$13.8b | 5.7x | 7.7x | 3.4x |
| Wed, 23 Nov 2022 | CA$108.6b | CA$31.1b | CA$13.7b | 5.5x | 7.9x | 3.5x |
| Fri, 21 Oct 2022 | CA$99.9b | CA$30.8b | CA$15.9b | 4.9x | 6.3x | 3.2x |
| Sun, 18 Sep 2022 | CA$108.4b | CA$30.3b | CA$15.8b | 5.2x | 6.9x | 3.6x |
| Tue, 16 Aug 2022 | CA$118.1b | CA$29.9b | CA$15.8b | 5.5x | 7.5x | 3.9x |
| Thu, 14 Jul 2022 | CA$109.0b | CA$29.0b | CA$16.1b | 5.4x | 6.8x | 3.8x |
| Sat, 11 Jun 2022 | CA$113.7b | CA$28.9b | CA$16.1b | 5.8x | 7.1x | 3.9x |
| Mon, 09 May 2022 | CA$118.5b | CA$28.7b | CA$14.2b | 7.2x | 8.3x | 4.1x |
| Wed, 06 Apr 2022 | CA$130.5b | CA$27.8b | CA$12.7b | 8.5x | 10.3x | 4.7x |
| Fri, 04 Mar 2022 | CA$131.4b | CA$28.5b | CA$12.0b | 8.9x | 11x | 4.6x |
| Sun, 30 Jan 2022 | CA$129.3b | CA$27.5b | CA$10.0b | 9.2x | 13x | 4.7x |
| Tue, 28 Dec 2021 | CA$135.2b | CA$27.4b | CA$9.8b | 9.6x | 13.8x | 4.9x |
Price to Earnings Ratio
13.8x
Current Industry PE
- Investors are optimistic on the Canadian Real Estate industry, and appear confident in long term growth rates.
- The industry is trading at a PE ratio of 113x which is higher than its 3-year average PE of 36.1x.
- The 3-year average PS ratio of 3.5x is higher than the industry's current PS ratio of 3.1x.
Past Earnings Growth
- The earnings for companies in the Real Estate industry have declined 55% per year over the last three years.
- Meanwhile revenues for these companies have grown 6.3% 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 Canadian Real Estate sector?
| CA Market | -2.58% | |
| Real Estate | -2.36% | |
| Hotel and Resort REITs | 2.75% | |
| Specialized REITs | -0.36% | |
| Retail REITs | -1.42% | |
| Industrial REITs | -1.77% | |
| Office REITs | -2.35% | |
| REITS | -2.55% | |
| Real Estate | -2.95% | |
| Residential REITs | -3.17% | |
| Health Care REITs | -3.22% | |
Industry PE
- Investors are most optimistic about the Retail REITs industry which is trading above its 3-year average PE ratio of 19.2x.
- Analysts are expecting annual earnings growth of 26.9%, which is higher than its past year's earnings growth of 15.9% per year.
Forecasted Growth
- Analysts are most optimistic on the Hotel and Resort REITs industry, expecting annual earnings growth of 135% over the next 5 years.
- In contrast, the Residential REITs industry is expected to see its earnings grow by 16% 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 | |
|---|---|---|---|---|---|
| TCN Tricon Residential | CA$15.46 | 2.5% +CA$109.6m | 44.4% | PE29.1x | |
| REI.UN RioCan Real Estate Investment Trust | CA$18.45 | 0.7% +CA$39.1m | 0.4% | PB0.7x | |
| HMT Halmont Properties | CA$0.85 | 13.3% +CA$12.4m | n/a | PE5.7x | |
| ERE.UN European Residential Real Estate Investment Trust | CA$3.77 | 3.0% +CA$10.2m | 47.8% | PB0.6x | |
| MPC Madison Pacific Properties | CA$5.31 | 2.9% +CA$8.9m | -13.2% | PS7x |