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Canadian (TSX) Real Estate Sector Analysis

UpdatedFeb 26, 2024
DataAggregated Company Financials
Companies75
  • 7D-0.6%
  • 3M9.3%
  • 1Y-7.3%
  • YTD2.0%

Last week, the Real Estate industry hasn't moved much but Boardwalk Real Estate Investment Trust is up 4.1% in that time. As for the longer term, the industry has declined 7.3% in the last year. Looking forward, earnings are forecast to grow by 43% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 26 Feb 2024CA$98.6bCA$31.6bCA$1.2b10.4x83.3x3.1x
Wed, 24 Jan 2024CA$103.4bCA$31.6bCA$1.6b10.4x63.4x3.3x
Fri, 22 Dec 2023CA$99.7bCA$31.4bCA$1.7b9.5x59.3x3.2x
Sun, 19 Nov 2023CA$93.4bCA$31.9bCA$1.9b7.9x50.3x2.9x
Tue, 17 Oct 2023CA$93.3bCA$31.1bCA$3.3b9.6x28.6x3x
Thu, 14 Sep 2023CA$100.0bCA$31.0bCA$3.3b9.1x30.7x3.2x
Sat, 12 Aug 2023CA$102.1bCA$31.5bCA$3.3b8.6x31x3.2x
Mon, 10 Jul 2023CA$100.2bCA$31.2bCA$4.3b6.9x23.3x3.2x
Wed, 07 Jun 2023CA$107.3bCA$31.4bCA$4.3b6.9x24.7x3.4x
Fri, 05 May 2023CA$107.2bCA$31.3bCA$7.2b7.1x14.9x3.4x
Sun, 02 Apr 2023CA$110.1bCA$31.0bCA$8.3b6.4x13.3x3.5x
Tue, 28 Feb 2023CA$116.4bCA$31.1bCA$10.2b6.7x11.5x3.7x
Thu, 26 Jan 2023CA$115.3bCA$31.1bCA$13.8b6.1x8.4x3.7x
Sat, 24 Dec 2022CA$105.9bCA$31.4bCA$13.8b5.7x7.7x3.4x
Mon, 21 Nov 2022CA$107.3bCA$31.0bCA$13.7b5.6x7.8x3.5x
Wed, 19 Oct 2022CA$101.8bCA$30.9bCA$15.9b4.9x6.4x3.3x
Fri, 16 Sep 2022CA$109.1bCA$30.2bCA$15.8b5.2x6.9x3.6x
Sun, 14 Aug 2022CA$118.1bCA$29.8bCA$15.8b5.6x7.5x4x
Tue, 12 Jul 2022CA$109.3bCA$29.0bCA$16.1b5.5x6.8x3.8x
Thu, 09 Jun 2022CA$118.5bCA$28.7bCA$16.1b6.1x7.4x4.1x
Sat, 07 May 2022CA$119.5bCA$28.7bCA$14.3b7.2x8.4x4.2x
Mon, 04 Apr 2022CA$134.6bCA$28.5bCA$12.6b8.6x10.7x4.7x
Wed, 02 Mar 2022CA$129.9bCA$28.5bCA$11.9b8.7x10.9x4.6x
Fri, 28 Jan 2022CA$127.9bCA$27.5bCA$10.0b9.1x12.8x4.6x
Sun, 26 Dec 2021CA$135.2bCA$27.4bCA$9.8b9.6x13.8x4.9x
Tue, 23 Nov 2021CA$134.2bCA$27.3bCA$9.8b10.4x13.7x4.9x
Thu, 21 Oct 2021CA$135.1bCA$26.4bCA$8.2b11x16.4x5.1x
Sat, 18 Sep 2021CA$131.2bCA$26.8bCA$8.2b10.7x15.9x4.9x
Mon, 16 Aug 2021CA$119.5bCA$26.4bCA$8.2b10.1x14.5x4.5x
Mon, 31 May 2021CA$107.6bCA$25.4bCA$4.3b11.2x24.8x4.2x
Thu, 04 Mar 2021CA$96.8bCA$25.1bCA$3.4b12.3x28.4x3.9x
Price to Earnings Ratio

28.4x


Total Market Cap: CA$96.8bTotal Earnings: CA$3.4bTotal Revenue: CA$25.1bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Real Estate Sector Price to Earnings3Y Average 22x202220232024
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 83.3x which is higher than its 3-year average PE of 22.0x.
  • The 3-year average PS ratio of 3.9x 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 30% per year over the last three years.
  • Meanwhile revenues for these companies have grown 8.0% 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 Market0.96%
Real Estate-0.64%
Residential REITs0.88%
Retail REITs0.10%
Industrial REITs-0.57%
Office REITs-0.73%
Specialized REITs-1.04%
Real Estate-1.77%
Health Care REITs-2.27%
REITS-2.85%
Hotel and Resort REITs-6.92%
Industry PE
  • Investors are most optimistic about the Residential REITs industry even though it's trading below its 3-year average PE ratio of 92.7x.
    • Analysts are expecting annual earnings growth of 69.5%, which is higher than its past year's earnings growth of 48.9% per year.
Forecasted Growth
  • Analysts are most optimistic on the Health Care REITs industry, expecting annual earnings growth of 119% over the next 5 years.
  • In contrast, the Real Estate industry is expected to see its earnings grow by 19% 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
BEI.UN Boardwalk Real Estate Investment TrustCA$76.144.1%
+CA$148.7m
29.5%PB0.9x
AIF Altus GroupCA$50.035.6%
+CA$123.2m
-17.6%PE222.5x
IIP.UN InterRent Real Estate Investment TrustCA$14.403.6%
+CA$72.4m
-1.8%PB0.8x
CHP.UN Choice Properties Real Estate Investment TrustCA$13.731.5%
+CA$65.6m
-7.5%PB1x
TCN Tricon ResidentialCA$15.050.9%
+CA$41.2m
35.2%PE15.9x
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AIF

CA$50.03

Altus Group

7D

5.6%

1Y

-17.6%

FSV

CA$222.47

FirstService

7D

-0.2%

1Y

18.8%

KMP.UN

CA$19.94

Killam Apartment REIT

7D

1.6%

1Y

8.4%

PMZ.UN

CA$13.72

Primaris Real Estate Investment Trust

7D

-1.4%

1Y

-9.4%

CIGI

CA$161.34

Colliers International Group

7D

-7.2%

1Y

1.9%

HR.UN

CA$9.30

H&R Real Estate Investment Trust

7D

-3.1%

1Y

-29.4%

IIP.UN

CA$14.40

InterRent Real Estate Investment Trust

7D

3.6%

1Y

-1.8%

WFC

CA$22.00

Wall Financial

7D

-11.6%

1Y

39.7%

TCN

CA$15.05

Tricon Residential

7D

0.9%

1Y

35.2%

REAL

CA$6.28

Real Matters

7D

-9.4%

1Y

10.4%