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Canadian (TSX) Real Estate Sector Analysis

UpdatedMar 18, 2024
DataAggregated Company Financials
Companies75
  • 7D-0.7%
  • 3M0.4%
  • 1Y-2.6%
  • YTD0.2%

The Real Estate industry has stayed flat over the last week. Furthermore, the industry has been flat for the past year as well. Looking forward, earnings are forecast to grow by 47% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 18 Mar 2024CA$96.7bCA$31.8bCA$1.1b10.9x86.3x3x
Wed, 14 Feb 2024CA$96.8bCA$31.6bCA$463.3m9.6x208.8x3.1x
Fri, 12 Jan 2024CA$101.2bCA$31.5bCA$1.7b9.9x59.8x3.2x
Sun, 10 Dec 2023CA$94.7bCA$31.7bCA$1.7b8.5x56.3x3x
Tue, 07 Nov 2023CA$94.7bCA$31.3bCA$2.9b9.6x32.6x3x
Thu, 05 Oct 2023CA$92.7bCA$31.2bCA$3.3b9.2x28.4x3x
Sat, 02 Sep 2023CA$101.1bCA$31.1bCA$3.3b9.2x31x3.3x
Mon, 31 Jul 2023CA$101.5bCA$31.3bCA$4.7b7x21.6x3.2x
Wed, 28 Jun 2023CA$97.8bCA$31.1bCA$4.3b7x22.8x3.1x
Fri, 26 May 2023CA$105.7bCA$31.6bCA$4.4b6.9x24.2x3.3x
Sun, 23 Apr 2023CA$111.1bCA$31.1bCA$8.4b6.1x13.3x3.6x
Tue, 21 Mar 2023CA$38.9bCA$19.2bCA$3.6b6.8x10.8x2x
Thu, 16 Feb 2023CA$117.6bCA$30.7bCA$12.1b6.1x9.7x3.8x
Sat, 14 Jan 2023CA$113.2bCA$31.1bCA$13.8b5.7x8.2x3.6x
Mon, 12 Dec 2022CA$107.3bCA$31.4bCA$13.8b5.6x7.8x3.4x
Wed, 09 Nov 2022CA$104.3bCA$30.8bCA$14.7b5.1x7.1x3.4x
Fri, 07 Oct 2022CA$101.1bCA$30.8bCA$15.9b5x6.4x3.3x
Sun, 04 Sep 2022CA$108.8bCA$30.2bCA$15.8b5.2x6.9x3.6x
Tue, 02 Aug 2022CA$115.3bCA$29.1bCA$15.8b5.4x7.3x4x
Thu, 30 Jun 2022CA$108.0bCA$28.9bCA$16.1b5.6x6.7x3.7x
Sat, 28 May 2022CA$120.0bCA$28.8bCA$16.1b6.1x7.5x4.2x
Mon, 25 Apr 2022CA$128.1bCA$28.0bCA$12.7b8.3x10.1x4.6x
Wed, 23 Mar 2022CA$136.7bCA$28.6bCA$12.6b8.9x10.8x4.8x
Fri, 18 Feb 2022CA$130.8bCA$28.1bCA$11.2b9.4x11.7x4.7x
Sun, 16 Jan 2022CA$132.2bCA$27.4bCA$10.0b9.3x13.3x4.8x
Tue, 14 Dec 2021CA$132.4bCA$27.4bCA$9.8b9.5x13.5x4.8x
Thu, 11 Nov 2021CA$138.3bCA$27.2bCA$9.6b11x14.4x5.1x
Sat, 09 Oct 2021CA$129.6bCA$26.5bCA$8.2b10.4x15.7x4.9x
Mon, 06 Sep 2021CA$121.1bCA$26.5bCA$8.2b10.8x14.7x4.6x
Wed, 04 Aug 2021CA$117.5bCA$26.4bCA$8.2b10.5x14.3x4.4x
Sat, 08 May 2021CA$105.1bCA$25.3bCA$4.3b11.4x24.2x4.1x
Price to Earnings Ratio

23.1x


Total Market Cap: CA$100.2bTotal Earnings: CA$4.3bTotal Revenue: CA$25.3bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Real Estate Sector Price to Earnings3Y Average 22.9x202220232024
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 86.3x which is higher than its 3-year average PE of 22.9x.
  • The 3-year average PS ratio of 3.8x is higher than the industry's current PS ratio of 3.0x.
Past Earnings Growth
  • The earnings for companies in the Real Estate industry have declined 36% per year over the last three years.
  • Meanwhile revenues for these companies have grown 7.9% 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 Market0.35%
Real Estate-0.70%
Health Care REITs8.04%
Real Estate0.90%
Hotel and Resort REITs-0.56%
Specialized REITs-1.34%
Residential REITs-1.41%
Office REITs-1.46%
REITS-1.50%
Retail REITs-1.75%
Industrial REITs-2.33%
Industry PE
  • Investors are most optimistic about the Residential REITs industry even though it's trading below its 3-year average PE ratio of 91.2x.
    • Analysts are expecting annual earnings growth of 80.8%, which is higher than its past year's earnings growth of 52.5% per year.
Forecasted Growth
  • Analysts are most optimistic on the Hotel and Resort REITs industry, expecting annual earnings growth of 123% over the next 5 years.
  • This is better than its past earnings decline of 10% per year.
  • In contrast, the Real Estate industry is expected to see its earnings grow by 24% 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
FSV FirstServiceCA$227.632.3%
+CA$226.2m
22.2%PE75.3x
CIGI Colliers International GroupCA$161.441.6%
+CA$125.7m
14.5%PE91x
NWH.UN NorthWest Healthcare Properties Real Estate Investment TrustCA$4.578.0%
+CA$85.4m
-48.2%PB0.6x
ISV Information ServicesCA$25.618.5%
+CA$35.6m
13.8%PE18.1x
WFC Wall FinancialCA$22.094.8%
+CA$32.4m
29.9%PE30.6x
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Latest News

FSV

CA$227.63

FirstService

7D

2.3%

1Y

22.2%

SRU.UN

CA$22.55

SmartCentres Real Estate Investment Trust

7D

-2.9%

1Y

-13.7%

SVI

CA$5.01

StorageVault Canada

7D

-3.5%

1Y

-15.8%

GRT.UN

CA$73.08

Granite Real Estate Investment Trust

7D

-3.0%

1Y

-12.7%

REI.UN

CA$17.80

RioCan Real Estate Investment Trust

7D

-1.9%

1Y

-11.9%

BEI.UN

CA$77.46

Boardwalk Real Estate Investment Trust

7D

0.5%

1Y

40.2%

KMP.UN

CA$18.80

Killam Apartment REIT

7D

-2.9%

1Y

9.7%

FCR.UN

CA$15.37

First Capital Real Estate Investment Trust

7D

-2.8%

1Y

-1.1%

WFC

CA$22.09

Wall Financial

7D

4.8%

1Y

29.9%