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Canadian (TSX) Real Estate Industry Analysis

UpdatedApr 03, 2026
DataAggregated Company Financials
Companies30
  • 7D3.6%
  • 3M-12.2%
  • 1Y-7.5%
  • YTD-12.1%

In the last week, the Real Estate industry is up 1.5%, with Colliers International Group up 9.6%. In the past year, the industry is down 13%. As for the next few years, earnings are expected to grow by 24% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 03 Apr 2026CA$25.5bCA$19.5bCA$927.4m8.1x27.5x1.3x
Sun, 01 Mar 2026CA$27.6bCA$19.2bCA$900.2m7.5x30.7x1.4x
Tue, 27 Jan 2026CA$29.2bCA$19.1bCA$1.1b8.4x26.3x1.5x
Thu, 25 Dec 2025CA$29.9bCA$19.1bCA$1.1b7.8x26.9x1.6x
Sat, 22 Nov 2025CA$28.7bCA$19.5bCA$1.1b7.6x26.5x1.5x
Mon, 20 Oct 2025CA$32.4bCA$19.0bCA$1.1b7.8x30.7x1.7x
Wed, 17 Sep 2025CA$34.4bCA$18.7bCA$1.0b8.8x32.9x1.8x
Fri, 15 Aug 2025CA$33.6bCA$18.8bCA$1.1b10.8x31.7x1.8x
Sun, 13 Jul 2025CA$29.8bCA$18.3bCA$1.1b8.9x27x1.6x
Tue, 10 Jun 2025CA$28.8bCA$18.3bCA$1.1b8.9x26.2x1.6x
Thu, 08 May 2025CA$28.0bCA$18.5bCA$1.1b8.3x24.9x1.5x
Sat, 05 Apr 2025CA$27.9bCA$18.6bCA$1.2b9x23.5x1.5x
Mon, 03 Mar 2025CA$30.4bCA$18.8bCA$1.1b10.5x28.3x1.6x
Wed, 29 Jan 2025CA$32.2bCA$18.1bCA$762.7m11.6x42.2x1.8x
Fri, 27 Dec 2024CA$31.5bCA$18.2bCA$761.9m10.3x41.4x1.7x
Sun, 24 Nov 2024CA$32.4bCA$17.7bCA$676.2m15x47.9x1.8x
Tue, 22 Oct 2024CA$32.7bCA$17.1bCA$705.5m9x46.3x1.9x
Thu, 19 Sep 2024CA$31.0bCA$16.8bCA$692.8m11.7x44.8x1.8x
Sat, 17 Aug 2024CA$29.6bCA$16.9bCA$678.5m8.6x43.6x1.8x
Mon, 15 Jul 2024CA$29.5bCA$16.7bCA$534.2m8.9x55.2x1.8x
Wed, 12 Jun 2024CA$27.4bCA$16.7bCA$520.2m9x52.7x1.6x
Fri, 10 May 2024CA$27.6bCA$16.6bCA$493.4m9.1x56x1.7x
Sun, 07 Apr 2024CA$33.2bCA$17.4bCA$444.0m16.5x74.9x1.9x
Tue, 05 Mar 2024CA$33.6bCA$17.3bCA$505.9m16.8x66.4x1.9x
Thu, 01 Feb 2024CA$32.8bCA$17.1bCA$228.0m13.5x143.9x1.9x
Sat, 30 Dec 2023CA$31.4bCA$16.9bCA$286.7m12.4x109.4x1.9x
Mon, 27 Nov 2023CA$29.2bCA$17.3bCA$308.0m10.5x95x1.7x
Wed, 25 Oct 2023CA$26.4bCA$17.2bCA$583.3m8.7x45.3x1.5x
Fri, 22 Sep 2023CA$28.9bCA$17.0bCA$576.7m8.8x50.1x1.7x
Sun, 20 Aug 2023CA$29.0bCA$17.0bCA$585.8m9.9x49.6x1.7x
Tue, 18 Jul 2023CA$30.3bCA$17.0bCA$1.3b7.5x22.9x1.8x
Thu, 15 Jun 2023CA$28.6bCA$17.1bCA$1.4b7.2x20.8x1.7x
Sat, 13 May 2023CA$27.9bCA$17.3bCA$1.4b7.2x20x1.6x
Mon, 10 Apr 2023CA$28.7bCA$16.9bCA$1.9b7.1x15.3x1.7x
Price to Earnings Ratio

15.3x


Total Market Cap: CA$28.7bTotal Earnings: CA$1.9bTotal Revenue: CA$16.9bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Real Estate Industry Price to Earnings3Y Average 44.9x202420252026
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 27.6x which is lower than its 3-year average PE of 44.9x.
  • The 3-year average PS ratio of 1.7x is higher than the industry's current PS ratio of 1.3x.
Past Earnings Growth
  • The earnings for companies in the Real Estate industry have declined 21% per year over the last three years.
  • Meanwhile revenues for these companies have grown 4.9% 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 industry?

CA Market3.76%
Real Estate3.12%
Real Estate3.64%
Real Estate Services4.52%
Real Estate Development0.94%
Real Estate Operating Companies0.89%
Diversified Real Estate0%0
Industry PE
  • Investors are most optimistic about the Real Estate Services industry even though it's trading below its 3-year average PE ratio of 72.9x.
    • Analysts are expecting annual earnings growth of 28.7%, which is higher than its past year's earnings growth of 7.9% per year.
  • Investors are most pessimistic about the Real Estate Operating Companies industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average.
Forecasted Growth
  • Analysts are most optimistic on the Real Estate Development industry, expecting annual earnings growth of 94% over the next 5 years.
  • This is better than its past earnings growth rate of 36% per year.
  • In contrast, the Real Estate Operating Companies industry is expected to see its earnings decline by 63% 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$149.899.6%
+CA$670.5m		-8.6%PE53.4x
FSV FirstServiceCA$194.431.7%
+CA$149.4m		-17.3%PE44.3x
SVI StorageVault CanadaCA$4.545.1%
+CA$81.9m		15.5%PS5x
AIF Altus GroupCA$47.711.6%
+CA$29.8m		-2.9%PS3.8x
MEQ Mainstreet EquityCA$177.551.8%
+CA$29.6m		-6.8%PE5.9x

Latest News

REAL
CA$5.62
Real Matters
7D
-0.7%
1Y
-1.4%
BRED
CA$0.20
Purebread Brands
7D
-4.7%
1Y
17.1%
ISC
CA$46.20
Information Services
7D
1.2%
1Y
75.9%

ISC: Future Registry Mandate And Labor Deal Will Shape Balanced Outlook

Analysts have raised their price target on the Information Services group to CA$49.60 from CA$44.20, citing updated assumptions around revenue growth, profit margins, discount rate and forward P/E that collectively support a higher estimated fair value. What's in the News The board and a special committee of independent directors are reviewing multiple options intended to maximize shareholder value.
CIGI
CA$149.89
Colliers International Group
7D
9.6%
1Y
-8.6%

CIGI: 2026 Guidance And New Leadership Will Support Premium Multiple

Narrative Update Overview Analysts have trimmed their average price targets on Colliers International Group by CA$10 to CA$20 across several firms after a slight Q4 earnings miss, while also highlighting underlying portfolio strength and characterizing recent AI risk concerns as overstated. Analyst Commentary Recent research on Colliers International Group reflects a mixed but generally constructive tone, with several firms lowering price targets after the Q4 earnings miss while still pointing to strengths in the business and valuation support.
FSV
CA$194.43
FirstService
7D
1.7%
1Y
-17.3%

FSV: Refreshed Discount Rate Assumptions Will Support Higher Future P/E

Analysts have adjusted their CA$ price targets on FirstService, with recent research, including a CA$6 increase cited at TD Securities, reflecting updated assumptions around discount rates, long term revenue growth, profit margins and future P/E expectations. Analyst Commentary Bullish Takeaways Bullish analysts view the higher CA$ price targets as consistent with refreshed assumptions on discount rates, suggesting that the risk profile used in their models supports a stronger valuation than before.
AIF
CA$47.71
Altus Group
7D
1.6%
1Y
-2.9%

AIF: Buybacks And Reset Expectations Will Steer Balanced Risk And Opportunity

Altus Group's updated analyst price target is now CA$55, reflecting a reset from prior targets clustered around CA$62 to CA$67 as analysts factor in revised expectations while largely maintaining existing ratings. Analyst Commentary Recent research updates on Altus Group have focused on resetting price targets while keeping existing ratings in place.
IVQ
CA$0.13
Invesque
7D
-3.7%
1Y
-23.5%
KDSX
CA$0.55
Kadestone Capital
7D
22.2%
1Y
n/a
SVI
CA$4.54
StorageVault Canada
7D
5.1%
1Y
15.5%
DRM
CA$18.59
Dream Unlimited
7D
2.1%
1Y
-2.7%
PKT
CA$0.60
Parkit Enterprise
7D
-3.2%
1Y
41.2%
BEK.B
CA$12.60
Becker Milk
7D
-3.7%
1Y
-1.6%
GRB
CA$0.40
Greenbriar Sustainable Living
7D
-2.4%
1Y
-23.1%
GDC
CA$3.40
Genesis Land Development
7D
-0.9%
1Y
7.9%
MEQ
CA$177.55
Mainstreet Equity
7D
1.8%
1Y
-6.8%
YEG
CA$0.17
Yorkton Equity Group
7D
-2.8%
1Y
-14.6%

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