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Canadian (TSX) Real Estate Sector Analysis
UpdatedJan 20, 2025
DataAggregated Company Financials
Companies73
- 7D0.6%
- 3M-9.7%
- 1Y-0.3%
- YTD-1.5%
The Real Estate is pretty flat in the last 7 days, but FirstService has stood out, gaining 4.7%. Furthermore, the industry has been flat for the past year as well. Earnings are forecast to grow by 30% 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 |
|---|---|---|---|---|---|---|
| Mon, 20 Jan 2025 | CA$98.1b | CA$33.0b | CA$892.7m | 13.6x | 109.8x | 3x |
| Wed, 18 Dec 2024 | CA$102.4b | CA$32.8b | CA$891.6m | 13.7x | 114.9x | 3.1x |
| Fri, 15 Nov 2024 | CA$99.0b | CA$32.7b | CA$940.2m | 14.8x | 105.3x | 3x |
| Sun, 13 Oct 2024 | CA$102.2b | CA$31.8b | CA$1.6b | 9.1x | 62.2x | 3.2x |
| Tue, 10 Sep 2024 | CA$100.6b | CA$31.6b | CA$1.6b | 9x | 61.3x | 3.2x |
| Thu, 08 Aug 2024 | CA$94.7b | CA$31.4b | CA$1.7b | 8.6x | 56x | 3x |
| Sat, 06 Jul 2024 | CA$89.3b | CA$31.2b | CA$1.8b | 9.1x | 49.6x | 2.9x |
| Mon, 03 Jun 2024 | CA$88.1b | CA$31.2b | CA$1.8b | 9.4x | 49.9x | 2.8x |
| Wed, 01 May 2024 | CA$92.4b | CA$32.2b | CA$952.3m | 11.8x | 97x | 2.9x |
| Fri, 29 Mar 2024 | CA$99.0b | CA$31.8b | CA$1.1b | 11.2x | 88.8x | 3.1x |
| Sun, 25 Feb 2024 | CA$98.7b | CA$31.6b | CA$1.2b | 10.5x | 83.1x | 3.1x |
| Tue, 23 Jan 2024 | CA$103.3b | CA$31.6b | CA$1.6b | 10.4x | 63.4x | 3.3x |
| Thu, 21 Dec 2023 | CA$100.8b | CA$31.5b | CA$1.7b | 9.5x | 59.9x | 3.2x |
| Sat, 18 Nov 2023 | CA$93.5b | CA$31.9b | CA$1.8b | 9x | 50.6x | 2.9x |
| Mon, 16 Oct 2023 | CA$92.6b | CA$31.1b | CA$3.3b | 9.5x | 28.4x | 3x |
| Wed, 13 Sep 2023 | CA$100.4b | CA$31.0b | CA$3.3b | 9.2x | 30.8x | 3.2x |
| Fri, 11 Aug 2023 | CA$101.6b | CA$31.5b | CA$4.0b | 8.5x | 25.5x | 3.2x |
| Sun, 09 Jul 2023 | CA$100.2b | CA$31.2b | CA$4.3b | 6.9x | 23.3x | 3.2x |
| Tue, 06 Jun 2023 | CA$107.1b | CA$31.4b | CA$4.3b | 6.9x | 24.6x | 3.4x |
| Thu, 04 May 2023 | CA$107.9b | CA$31.3b | CA$7.2b | 7.1x | 14.9x | 3.4x |
| Sat, 01 Apr 2023 | CA$110.1b | CA$31.1b | CA$8.5b | 6.4x | 13x | 3.5x |
| Mon, 27 Feb 2023 | CA$116.2b | CA$31.1b | CA$10.2b | 6.7x | 11.4x | 3.7x |
| Wed, 25 Jan 2023 | CA$115.4b | CA$31.1b | CA$13.8b | 6.1x | 8.4x | 3.7x |
| Fri, 23 Dec 2022 | CA$105.4b | CA$31.4b | CA$13.8b | 5.7x | 7.6x | 3.4x |
| Sun, 20 Nov 2022 | CA$107.3b | CA$31.0b | CA$13.7b | 5.6x | 7.8x | 3.5x |
| Tue, 18 Oct 2022 | CA$98.9b | CA$30.9b | CA$15.9b | 4.8x | 6.2x | 3.2x |
| Thu, 15 Sep 2022 | CA$109.2b | CA$30.2b | CA$15.8b | 5.2x | 6.9x | 3.6x |
| Sat, 13 Aug 2022 | CA$118.1b | CA$29.9b | CA$15.8b | 5.7x | 7.5x | 3.9x |
| Mon, 11 Jul 2022 | CA$109.9b | CA$29.0b | CA$16.1b | 5.6x | 6.8x | 3.8x |
| Wed, 08 Jun 2022 | CA$118.5b | CA$28.7b | CA$16.1b | 6.1x | 7.4x | 4.1x |
| Fri, 06 May 2022 | CA$120.0b | CA$28.6b | CA$14.0b | 7.4x | 8.5x | 4.2x |
| Sun, 03 Apr 2022 | CA$134.6b | CA$28.5b | CA$12.6b | 8.6x | 10.7x | 4.7x |
| Tue, 01 Mar 2022 | CA$130.5b | CA$28.5b | CA$11.9b | 8.7x | 11x | 4.6x |
| Thu, 27 Jan 2022 | CA$128.3b | CA$27.4b | CA$10.0b | 9.4x | 12.9x | 4.7x |
Price to Earnings Ratio
12.9x
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 110x which is higher than its 3-year average PE of 38.8x.
- The 3-year average PS ratio of 3.4x 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 55% per year over the last three years.
- Meanwhile revenues for these companies have grown 6.4% 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 | 1.22% | |
| Real Estate | 0.64% | |
| Real Estate | 4.00% | |
| Office REITs | 1.18% | |
| Specialized REITs | 0.57% | |
| Industrial REITs | -0.059% | |
| Retail REITs | -0.81% | |
| REITS | -0.91% | |
| Health Care REITs | -1.32% | |
| Hotel and Resort REITs | -1.50% | |
| Residential REITs | -1.73% | |
Industry PE
- Investors are most optimistic about the Retail REITs industry which is trading above its 3-year average PE ratio of 20.4x.
- Analysts are expecting annual earnings growth of 27.0%, 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 3.5% 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 | |
|---|---|---|---|---|---|
| FSV FirstService | CA$263.64 | 4.7% +CA$532.7m | 19.8% | PE76.3x | |
| CIGI Colliers International Group | CA$199.25 | 5.5% +CA$528.6m | 27.7% | PE45.2x | |
| AIF Altus Group | CA$55.85 | 3.6% +CA$89.6m | 26.8% | PE218.6x | |
| MEQ Mainstreet Equity | CA$200.00 | 3.9% +CA$69.7m | 36.1% | PE9.3x | |
| AP.UN Allied Properties Real Estate Investment Trust | CA$17.01 | 1.7% +CA$40.5m | -15.0% | PB0.4x |