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Canadian (TSX) Office REITs Industry Analysis
UpdatedNov 14, 2025
DataAggregated Company Financials
Companies6
- 7D-5.0%
- 3M-18.9%
- 1Y-22.6%
- YTD-17.5%
Over the last 7 days, the Office REITs industry has dropped 5.0%, driven by a pullback from Allied Properties Real Estate Investment Trust of 6.9%. The industry has fallen 23% in the last year. Looking forward, earnings are forecast to grow by 108% annually.
Industry Valuation and Performance
Has the Canadian Office REITs Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Mon, 17 Nov 2025 | CA$3.1b | CA$1.1b | -CA$870,658,386.00 | 48.9x | -3.6x | 2.8x |
| Wed, 15 Oct 2025 | CA$3.1b | CA$904.5m | -CA$798,709,000.00 | n/a | -3.9x | 3.5x |
| Fri, 12 Sep 2025 | CA$3.3b | CA$904.8m | -CA$798,676,386.00 | 38x | -4.2x | 3.7x |
| Sun, 10 Aug 2025 | CA$2.9b | CA$907.4m | -CA$794,286,611.00 | 28.6x | -3.6x | 3.2x |
| Tue, 08 Jul 2025 | CA$3.0b | CA$940.5m | -CA$660,526,611.00 | 32.7x | -4.5x | 3.2x |
| Thu, 05 Jun 2025 | CA$2.7b | CA$941.0m | -CA$660,526,611.00 | 24.5x | -4x | 2.8x |
| Sat, 03 May 2025 | CA$2.6b | CA$954.7m | -CA$626,412,454.00 | 35.9x | -4.1x | 2.7x |
| Mon, 31 Mar 2025 | CA$2.8b | CA$940.5m | -CA$547,092,454.00 | 30.8x | -5.2x | 3x |
| Wed, 26 Feb 2025 | CA$2.9b | CA$1.1b | -CA$947,250,454.00 | 30.8x | -3.1x | 2.6x |
| Fri, 24 Jan 2025 | CA$2.9b | CA$1.1b | -CA$1,212,261,454.00 | 30.8x | -2.4x | 2.6x |
| Sun, 22 Dec 2024 | CA$3.0b | CA$1.1b | -CA$1,212,261,454.00 | 30.8x | -2.5x | 2.7x |
| Tue, 19 Nov 2024 | CA$3.2b | CA$1.1b | -CA$1,212,252,412.00 | 24.4x | -2.6x | 2.8x |
| Thu, 17 Oct 2024 | CA$3.5b | CA$1.1b | -CA$935,578,412.00 | 24.4x | -3.8x | 3.2x |
| Sat, 14 Sep 2024 | CA$3.2b | CA$1.1b | -CA$935,578,412.00 | 24.4x | -3.4x | 2.8x |
| Mon, 12 Aug 2024 | CA$2.9b | CA$1.1b | -CA$935,584,696.00 | 23.8x | -3.1x | 2.6x |
| Wed, 10 Jul 2024 | CA$2.8b | CA$1.1b | -CA$820,658,696.00 | 23.8x | -3.4x | 2.6x |
| Fri, 07 Jun 2024 | CA$3.0b | CA$1.1b | -CA$820,658,696.00 | 33.3x | -3.6x | 2.8x |
| Sun, 05 May 2024 | CA$3.0b | CA$1.1b | -CA$814,079,958.00 | 30.8x | -3.7x | 2.7x |
| Tue, 02 Apr 2024 | CA$3.0b | CA$1.1b | -CA$811,528,728.00 | n/a | -3.7x | 2.8x |
| Thu, 29 Feb 2024 | CA$3.0b | CA$1.1b | -CA$832,964,728.00 | n/a | -3.6x | 2.8x |
| Sat, 27 Jan 2024 | CA$3.6b | CA$1.1b | -CA$387,958,728.00 | n/a | -9.2x | 3.3x |
| Mon, 25 Dec 2023 | CA$3.4b | CA$1.1b | -CA$387,958,728.00 | n/a | -8.9x | 3.2x |
| Wed, 22 Nov 2023 | CA$3.0b | CA$1.1b | -CA$387,943,395.00 | n/a | -7.7x | 2.8x |
| Fri, 20 Oct 2023 | CA$3.0b | CA$1.1b | -CA$232,577,395.00 | n/a | -13x | 2.8x |
| Sun, 17 Sep 2023 | CA$3.8b | CA$1.1b | -CA$232,577,395.00 | n/a | -16.5x | 3.5x |
| Tue, 15 Aug 2023 | CA$3.9b | CA$1.1b | -CA$232,544,067.00 | n/a | -16.8x | 3.6x |
| Thu, 13 Jul 2023 | CA$4.0b | CA$1.1b | -CA$1,035,067.00 | 34.2x | -3894.3x | 3.6x |
| Sat, 10 Jun 2023 | CA$4.4b | CA$1.1b | -CA$1,035,067.00 | 48.8x | -4284.2x | 3.9x |
| Mon, 08 May 2023 | CA$4.4b | CA$1.1b | CA$7.4m | 48.3x | 600.1x | 3.9x |
| Wed, 05 Apr 2023 | CA$4.7b | CA$1.1b | CA$195.6m | 14.4x | 24x | 4.1x |
Price to Earnings Ratio
24x
Current Industry PE
- Investors are relatively neutral on the Canadian Office REITs industry at the moment, indicating that they anticipate long term growth rates to remain steady.
- The industry is trading close to its 3-year average PS ratio of 3.1x.
Past Earnings Growth
- Total earnings for the Office REITs industry have declined over the last three years, with the industry now making a loss overall.
- Meanwhile revenues have remained mostly flat.
- This means that although sales have remained flat, 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 industry?
| CA Market | 1.62% | |
| Real Estate | -0.036% | |
| Office REITs | -5.00% | |
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| D.UN Dream Office Real Estate Investment Trust | CA$17.61 | 0.7% +CA$2.0m | -10.2% | PB0.3x | |
| TNT.UN True North Commercial Real Estate Investment Trust | CA$9.16 | 1.2% +CA$1.5m | -19.8% | PB0.3x | |
| INO.UN Inovalis Real Estate Investment Trust | CA$0.80 | 5.3% +CA$1.3m | -1.2% | PB0.1x |