Header cover image

Canadian (TSX) Real Estate Sector Analysis

UpdatedJul 17, 2025
DataAggregated Company Financials
Companies70
  • 7D0.5%
  • 3M8.4%
  • 1Y4.2%
  • YTD3.7%

Over the last 7 days, the Real Estate industry has remained flat, although notably Colliers International Group gained 3.3%. The past year has been better, since the industry has gained 4.2% in that time. Earnings are forecast to grow by 28% annually.

Sector Valuation and Performance

Has the Canadian Real Estate Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 17 Jul 2025CA$102.3bCA$32.8bCA$3.4b13.7x29.9x3.1x
Sat, 14 Jun 2025CA$101.0bCA$32.7bCA$3.4b12.5x29.5x3.1x
Mon, 12 May 2025CA$96.8bCA$33.2bCA$3.5b12.3x27.5x2.9x
Wed, 09 Apr 2025CA$91.6bCA$33.5bCA$4.6b10.3x19.9x2.7x
Fri, 07 Mar 2025CA$100.1bCA$33.8bCA$3.6b12.1x28x3x
Sun, 02 Feb 2025CA$99.1bCA$33.1bCA$901.7m13.5x110x3x
Tue, 31 Dec 2024CA$100.3bCA$32.9bCA$891.9m13.9x112.4x3x
Thu, 28 Nov 2024CA$99.2bCA$32.5bCA$825.9m14.9x120.1x3.1x
Sat, 26 Oct 2024CA$103.1bCA$32.3bCA$1.7b9.5x61.3x3.2x
Mon, 23 Sep 2024CA$105.1bCA$31.6bCA$1.6b9.5x64x3.3x
Wed, 21 Aug 2024CA$95.9bCA$31.3bCA$1.6b8.9x58.8x3.1x
Fri, 19 Jul 2024CA$95.3bCA$31.3bCA$1.8b9.4x53.1x3x
Sun, 16 Jun 2024CA$87.8bCA$31.3bCA$1.8b9.1x49.3x2.8x
Tue, 14 May 2024CA$90.3bCA$31.2bCA$1.7b9.5x52.2x2.9x
Thu, 11 Apr 2024CA$98.2bCA$31.9bCA$1.1b11.5x88.3x3.1x
Sat, 09 Mar 2024CA$98.6bCA$31.6bCA$1.3b10.2x76.9x3.1x
Mon, 05 Feb 2024CA$102.7bCA$31.6bCA$1.1b10.2x91.4x3.2x
Wed, 03 Jan 2024CA$101.1bCA$31.5bCA$1.7b9.3x59.8x3.2x
Fri, 01 Dec 2023CA$94.1bCA$31.7bCA$1.7b8.3x55.4x3x
Sun, 29 Oct 2023CA$87.5bCA$31.6bCA$3.2b9.2x27.3x2.8x
Tue, 26 Sep 2023CA$96.5bCA$30.9bCA$3.3b10.1x29.6x3.1x
Thu, 24 Aug 2023CA$99.3bCA$31.0bCA$3.3b9.7x30.5x3.2x
Sat, 22 Jul 2023CA$103.1bCA$31.3bCA$4.8b7.1x21.4x3.3x
Mon, 19 Jun 2023CA$105.2bCA$31.1bCA$4.3b6.9x24.5x3.4x
Wed, 17 May 2023CA$106.8bCA$31.5bCA$4.4b6.9x24.5x3.4x
Fri, 14 Apr 2023CA$110.2bCA$30.9bCA$8.3b6.4x13.3x3.6x
Sun, 12 Mar 2023CA$111.7bCA$31.4bCA$8.8b7x12.7x3.6x
Tue, 07 Feb 2023CA$116.4bCA$31.0bCA$13.5b6.1x8.6x3.8x
Thu, 05 Jan 2023CA$108.4bCA$31.2bCA$13.8b5.7x7.8x3.5x
Sat, 03 Dec 2022CA$108.8bCA$31.2bCA$13.8b5.6x7.9x3.5x
Mon, 31 Oct 2022CA$104.1bCA$30.9bCA$15.7b5x6.6x3.4x
Wed, 28 Sep 2022CA$99.0bCA$30.8bCA$15.9b4.7x6.2x3.2x
Fri, 26 Aug 2022CA$114.2bCA$30.0bCA$15.8b5.1x7.2x3.8x
Sun, 24 Jul 2022CA$112.4bCA$29.0bCA$16.0b5.7x7x3.9x
Price to Earnings Ratio

7x


Total Market Cap: CA$112.4bTotal Earnings: CA$16.0bTotal Revenue: CA$29.0bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Real Estate Sector Price to Earnings3Y Average 43.4x202320242025
Current Industry PE
  • Investors are pessimistic on the Canadian Real Estate 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 29.9x which is lower than its 3-year average PE of 43.4x.
  • The industry is trading close to its 3-year average PS ratio of 3.2x.
Past Earnings Growth
  • The earnings for companies in the Real Estate industry have declined 40% per year over the last three years.
  • Meanwhile revenues for these companies have grown 4.2% 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 Market0.65%
Real Estate0.47%
Office REITs2.37%
Retail REITs1.02%
Real Estate0.84%
Hotel and Resort REITs0.73%
Industrial REITs0.59%
Health Care REITs0.20%
Specialized REITs0.17%
Residential REITs-0.35%
REITS-3.00%
Industry PE
  • Investors are most optimistic about the Real Estate industry even though it's trading below its 3-year average PE ratio of 41.0x.
    • Analysts are expecting annual earnings growth of 8.4%, which is lower than the prior year's growth of 44.5% per year.
Forecasted Growth
  • Analysts are most optimistic on the Health Care REITs industry, expecting annual earnings growth of 136% over the next 5 years.
  • In contrast, the Industrial REITs industry is expected to see its earnings grow by 6.7% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
CIGI Colliers International GroupCA$186.553.3%
+CA$300.7m
4.9%PE47.7x
REI.UN RioCan Real Estate Investment TrustCA$17.972.5%
+CA$129.8m
1.0%PB0.7x
BEI.UN Boardwalk Real Estate Investment TrustCA$72.033.5%
+CA$117.8m
-4.2%PB0.7x
CAR.UN Canadian Apartment Properties Real Estate Investment TrustCA$45.051.2%
+CA$85.6m
-6.2%PB0.8x
FCR.UN First Capital Real Estate Investment TrustCA$18.542.0%
+CA$76.5m
15.8%PB1x

Latest News