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Canadian (TSX) Real Estate Sector Analysis

UpdatedJul 11, 2025
DataAggregated Company Financials
Companies70
  • 7D1.1%
  • 3M13.1%
  • 1Y7.3%
  • YTD3.4%

Over the last 7 days, the Real Estate industry has risen 1.1%, driven by gains from Colliers International Group of 1.8%. This takes the industry's 12 month performance to a gain of 7.3%. Looking forward, earnings are forecast to grow by 31% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 12 Jul 2025CA$101.4bCA$32.8bCA$3.4b13.4x29.6x3.1x
Mon, 09 Jun 2025CA$99.9bCA$32.8bCA$3.4b12.2x29.1x3x
Wed, 07 May 2025CA$96.3bCA$33.0bCA$4.1b11.2x23.5x2.9x
Fri, 04 Apr 2025CA$98.2bCA$33.3bCA$4.6b11.1x21.2x2.9x
Sun, 02 Mar 2025CA$98.9bCA$33.9bCA$3.4b12.2x29.1x2.9x
Tue, 28 Jan 2025CA$98.8bCA$32.9bCA$892.4m13.7x110.7x3x
Thu, 26 Dec 2024CA$100.5bCA$32.9bCA$891.9m13.7x112.6x3.1x
Sat, 23 Nov 2024CA$98.6bCA$32.5bCA$843.4m14.9x116.9x3x
Mon, 21 Oct 2024CA$103.7bCA$31.8bCA$1.6b9.4x63.1x3.3x
Wed, 18 Sep 2024CA$104.9bCA$31.6bCA$1.6b9.5x64.2x3.3x
Fri, 16 Aug 2024CA$94.7bCA$31.5bCA$1.7b8.8x57.3x3x
Sun, 14 Jul 2024CA$93.0bCA$31.2bCA$1.8b9.1x51.8x3x
Tue, 11 Jun 2024CA$88.4bCA$31.3bCA$1.8b9.1x49.7x2.8x
Thu, 09 May 2024CA$89.6bCA$31.2bCA$1.5b9.3x59.8x2.9x
Sat, 06 Apr 2024CA$95.7bCA$31.8bCA$1.1b11.2x85.5x3x
Mon, 04 Mar 2024CA$97.9bCA$31.7bCA$1.3b11.8x73.3x3.1x
Wed, 31 Jan 2024CA$103.9bCA$31.6bCA$1.6b9.9x63.4x3.3x
Fri, 29 Dec 2023CA$101.8bCA$31.4bCA$1.7b9x60.2x3.2x
Sun, 26 Nov 2023CA$94.2bCA$31.8bCA$1.7b8.7x55.3x3x
Tue, 24 Oct 2023CA$84.9bCA$30.0bCA$2.1b9.6x40.7x2.8x
Thu, 21 Sep 2023CA$100.4bCA$30.9bCA$3.3b9.9x30.8x3.2x
Sat, 19 Aug 2023CA$99.0bCA$31.1bCA$3.3b9.9x30.3x3.2x
Mon, 17 Jul 2023CA$102.7bCA$31.2bCA$4.3b7x23.9x3.3x
Wed, 14 Jun 2023CA$106.3bCA$31.3bCA$4.3b6.9x24.5x3.4x
Fri, 12 May 2023CA$107.6bCA$31.4bCA$5.9b7.1x18.4x3.4x
Sun, 09 Apr 2023CA$108.9bCA$31.1bCA$8.3b6.3x13.1x3.5x
Tue, 07 Mar 2023CA$116.1bCA$31.2bCA$9.6b6.8x12x3.7x
Thu, 02 Feb 2023CA$117.2bCA$30.9bCA$13.8b6.2x8.5x3.8x
Sat, 31 Dec 2022CA$105.9bCA$31.3bCA$13.8b5.7x7.7x3.4x
Mon, 28 Nov 2022CA$110.0bCA$31.1bCA$13.8b5.8x8x3.5x
Wed, 26 Oct 2022CA$103.3bCA$30.7bCA$15.9b4.9x6.5x3.4x
Fri, 23 Sep 2022CA$103.8bCA$30.5bCA$15.9b4.9x6.5x3.4x
Sun, 21 Aug 2022CA$115.6bCA$30.0bCA$15.8b5.1x7.3x3.8x
Tue, 19 Jul 2022CA$107.0bCA$29.0bCA$16.1b5.4x6.6x3.7x
Price to Earnings Ratio

6.6x


Total Market Cap: CA$107.0bTotal Earnings: CA$16.1bTotal Revenue: CA$29.0bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Real Estate Sector Price to Earnings3Y Average 43.2x202320242025
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 29.6x which is lower than its 3-year average PE of 43.2x.
  • 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 4.1% 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 Market0.40%
Real Estate1.10%
REITS9.68%
Office REITs3.72%
Industrial REITs2.18%
Real Estate1.25%
Specialized REITs1.24%
Health Care REITs0%0
Residential REITs-0.018%
Retail REITs-0.083%
Hotel and Resort REITs-0.54%
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 9.3%, 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 7.0% 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$183.801.8%
+CA$167.1m		9.2%PE47x
FSV FirstServiceCA$243.580.7%
+CA$71.8m		9.8%PE61.8x
MEQ Mainstreet EquityCA$189.332.6%
+CA$45.0m		12.4%PE7.2x
GRT.UN Granite Real Estate Investment TrustCA$71.560.8%
+CA$34.7m		n/aPB0.8x
AP.UN Allied Properties Real Estate Investment TrustCA$18.181.2%
+CA$29.4m		8.5%PB0.5x

Latest News

MEQ
CA$189.33
Mainstreet Equity
7D
2.6%
1Y
12.4%
AIF
CA$53.50
Altus Group
7D
1.0%
1Y
-1.6%

Calculating The Fair Value Of Altus Group Limited (TSE:AIF)

Jul 10
Calculating The Fair Value Of Altus Group Limited (TSE:AIF)
CIGI
CA$183.80
Colliers International Group
7D
1.8%
1Y
9.2%
FSV
CA$243.58
FirstService
7D
0.7%
1Y
9.8%
PMZ.UN
CA$15.23
Primaris Real Estate Investment Trust
7D
0.5%
1Y
12.2%
FCR.UN
CA$18.27
First Capital Real Estate Investment Trust
7D
-1.8%
1Y
17.0%
HR.UN
CA$12.18
H&R Real Estate Investment Trust
7D
-2.2%
1Y
30.8%
REI.UN
CA$17.75
RioCan Real Estate Investment Trust
7D
-1.5%
1Y
1.0%
MHC.UN
CA$25.74
Flagship Communities Real Estate Investment Trust
7D
4.6%
1Y
34.5%
DIR.UN
CA$11.76
Dream Industrial Real Estate Investment Trust
7D
-1.6%
1Y
-10.2%
GRT.UN
CA$71.56
Granite Real Estate Investment Trust
7D
0.8%
1Y
n/a
AP.UN
CA$18.18
Allied Properties Real Estate Investment Trust
7D
1.2%
1Y
8.5%
KMP.UN
CA$18.98
Killam Apartment REIT
7D
-3.0%
1Y
6.2%
DRM
CA$21.27
Dream Unlimited
7D
-4.7%
1Y
1.0%
CHP.UN
CA$14.74
Choice Properties Real Estate Investment Trust
7D
-1.9%
1Y
8.6%
CRR.UN
CA$14.74
Crombie Real Estate Investment Trust
7D
-2.0%
1Y
12.0%