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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?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Thu, 17 Jul 2025 | CA$102.3b | CA$32.8b | CA$3.4b | 13.7x | 29.9x | 3.1x |
| Sat, 14 Jun 2025 | CA$101.0b | CA$32.7b | CA$3.4b | 12.5x | 29.5x | 3.1x |
| Mon, 12 May 2025 | CA$96.8b | CA$33.2b | CA$3.5b | 12.3x | 27.5x | 2.9x |
| Wed, 09 Apr 2025 | CA$91.6b | CA$33.5b | CA$4.6b | 10.3x | 19.9x | 2.7x |
| Fri, 07 Mar 2025 | CA$100.1b | CA$33.8b | CA$3.6b | 12.1x | 28x | 3x |
| Sun, 02 Feb 2025 | CA$99.1b | CA$33.1b | CA$901.7m | 13.5x | 110x | 3x |
| Tue, 31 Dec 2024 | CA$100.3b | CA$32.9b | CA$891.9m | 13.9x | 112.4x | 3x |
| Thu, 28 Nov 2024 | CA$99.2b | CA$32.5b | CA$825.9m | 14.9x | 120.1x | 3.1x |
| Sat, 26 Oct 2024 | CA$103.1b | CA$32.3b | CA$1.7b | 9.5x | 61.3x | 3.2x |
| Mon, 23 Sep 2024 | CA$105.1b | CA$31.6b | CA$1.6b | 9.5x | 64x | 3.3x |
| Wed, 21 Aug 2024 | CA$95.9b | CA$31.3b | CA$1.6b | 8.9x | 58.8x | 3.1x |
| Fri, 19 Jul 2024 | CA$95.3b | CA$31.3b | CA$1.8b | 9.4x | 53.1x | 3x |
| Sun, 16 Jun 2024 | CA$87.8b | CA$31.3b | CA$1.8b | 9.1x | 49.3x | 2.8x |
| Tue, 14 May 2024 | CA$90.3b | CA$31.2b | CA$1.7b | 9.5x | 52.2x | 2.9x |
| Thu, 11 Apr 2024 | CA$98.2b | CA$31.9b | CA$1.1b | 11.5x | 88.3x | 3.1x |
| Sat, 09 Mar 2024 | CA$98.6b | CA$31.6b | CA$1.3b | 10.2x | 76.9x | 3.1x |
| Mon, 05 Feb 2024 | CA$102.7b | CA$31.6b | CA$1.1b | 10.2x | 91.4x | 3.2x |
| Wed, 03 Jan 2024 | CA$101.1b | CA$31.5b | CA$1.7b | 9.3x | 59.8x | 3.2x |
| Fri, 01 Dec 2023 | CA$94.1b | CA$31.7b | CA$1.7b | 8.3x | 55.4x | 3x |
| Sun, 29 Oct 2023 | CA$87.5b | CA$31.6b | CA$3.2b | 9.2x | 27.3x | 2.8x |
| Tue, 26 Sep 2023 | CA$96.5b | CA$30.9b | CA$3.3b | 10.1x | 29.6x | 3.1x |
| Thu, 24 Aug 2023 | CA$99.3b | CA$31.0b | CA$3.3b | 9.7x | 30.5x | 3.2x |
| Sat, 22 Jul 2023 | CA$103.1b | CA$31.3b | CA$4.8b | 7.1x | 21.4x | 3.3x |
| Mon, 19 Jun 2023 | CA$105.2b | CA$31.1b | CA$4.3b | 6.9x | 24.5x | 3.4x |
| Wed, 17 May 2023 | CA$106.8b | CA$31.5b | CA$4.4b | 6.9x | 24.5x | 3.4x |
| Fri, 14 Apr 2023 | CA$110.2b | CA$30.9b | CA$8.3b | 6.4x | 13.3x | 3.6x |
| Sun, 12 Mar 2023 | CA$111.7b | CA$31.4b | CA$8.8b | 7x | 12.7x | 3.6x |
| Tue, 07 Feb 2023 | CA$116.4b | CA$31.0b | CA$13.5b | 6.1x | 8.6x | 3.8x |
| Thu, 05 Jan 2023 | CA$108.4b | CA$31.2b | CA$13.8b | 5.7x | 7.8x | 3.5x |
| Sat, 03 Dec 2022 | CA$108.8b | CA$31.2b | CA$13.8b | 5.6x | 7.9x | 3.5x |
| Mon, 31 Oct 2022 | CA$104.1b | CA$30.9b | CA$15.7b | 5x | 6.6x | 3.4x |
| Wed, 28 Sep 2022 | CA$99.0b | CA$30.8b | CA$15.9b | 4.7x | 6.2x | 3.2x |
| Fri, 26 Aug 2022 | CA$114.2b | CA$30.0b | CA$15.8b | 5.1x | 7.2x | 3.8x |
| Sun, 24 Jul 2022 | CA$112.4b | CA$29.0b | CA$16.0b | 5.7x | 7x | 3.9x |
Price to Earnings Ratio
7x
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 Market | 0.65% | |
| Real Estate | 0.47% | |
| Office REITs | 2.37% | |
| Retail REITs | 1.02% | |
| Real Estate | 0.84% | |
| Hotel and Resort REITs | 0.73% | |
| Industrial REITs | 0.59% | |
| Health Care REITs | 0.20% | |
| Specialized REITs | 0.17% | |
| 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?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| CIGI Colliers International Group | CA$186.55 | 3.3% +CA$300.7m | 4.9% | PE47.7x | |
| REI.UN RioCan Real Estate Investment Trust | CA$17.97 | 2.5% +CA$129.8m | 1.0% | PB0.7x | |
| BEI.UN Boardwalk Real Estate Investment Trust | CA$72.03 | 3.5% +CA$117.8m | -4.2% | PB0.7x | |
| CAR.UN Canadian Apartment Properties Real Estate Investment Trust | CA$45.05 | 1.2% +CA$85.6m | -6.2% | PB0.8x | |
| FCR.UN First Capital Real Estate Investment Trust | CA$18.54 | 2.0% +CA$76.5m | 15.8% | PB1x |