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Canadian (TSX) REITS Industry Analysis
UpdatedSep 13, 2025
DataAggregated Company Financials
Companies6
- 7D0.3%
- 3M8.0%
- 1Y4.0%
- YTD20.2%
In the last week, the REITS industry is up 1.4%, with Artis Real Estate Investment Trust up 2.3%. This takes the industry's 12 month performance to a gain of 5.1%. As for the next few years, earnings are expected to grow by 99% per annum.
Industry Valuation and Performance
Has the Canadian REITS Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Sat, 13 Sep 2025 | CA$5.2b | CA$1.4b | -CA$110,680,261.00 | 8.6x | -46.7x | 3.8x |
| Mon, 11 Aug 2025 | CA$5.0b | CA$1.5b | -CA$218,183,644.00 | 8.3x | -22.8x | 3.3x |
| Wed, 09 Jul 2025 | CA$5.2b | CA$1.6b | -CA$195,408,672.00 | 7.8x | -26.4x | 3.3x |
| Fri, 06 Jun 2025 | CA$4.7b | CA$1.6b | -CA$195,408,672.00 | 7.8x | -24.1x | 3x |
| Sun, 04 May 2025 | CA$4.5b | CA$1.6b | -CA$135,003,792.00 | 7.7x | -33.4x | 2.9x |
| Tue, 01 Apr 2025 | CA$4.7b | CA$1.6b | -CA$189,655,274.00 | 7.7x | -24.8x | 2.9x |
| Thu, 27 Feb 2025 | CA$4.8b | CA$1.7b | -CA$239,924,479.00 | 7.8x | -19.9x | 2.9x |
| Sat, 25 Jan 2025 | CA$4.4b | CA$1.7b | -CA$391,634,479.00 | 10.9x | -11.3x | 2.7x |
| Mon, 23 Dec 2024 | CA$4.5b | CA$1.7b | -CA$391,634,479.00 | 11.3x | -11.4x | 2.7x |
| Wed, 20 Nov 2024 | CA$5.1b | CA$1.8b | -CA$398,329,474.00 | 10.4x | -12.9x | 2.9x |
| Fri, 18 Oct 2024 | CA$5.5b | CA$1.9b | -CA$474,273,724.00 | 9.4x | -11.6x | 2.9x |
| Sun, 15 Sep 2024 | CA$5.5b | CA$1.9b | -CA$474,273,724.00 | 9.2x | -11.7x | 2.9x |
| Tue, 13 Aug 2024 | CA$4.7b | CA$1.8b | -CA$242,052,459.00 | 8.5x | -19.5x | 2.6x |
| Thu, 11 Jul 2024 | CA$4.5b | CA$1.8b | -CA$341,683,846.00 | 7.9x | -13.1x | 2.5x |
| Sat, 08 Jun 2024 | CA$4.6b | CA$1.8b | -CA$341,683,846.00 | 8x | -13.5x | 2.6x |
| Mon, 06 May 2024 | CA$4.5b | CA$1.8b | -CA$259,777,117.00 | 7.6x | -17.5x | 2.5x |
| Wed, 03 Apr 2024 | CA$4.6b | CA$1.8b | -CA$236,724,569.00 | 7.6x | -19.3x | 2.5x |
| Fri, 01 Mar 2024 | CA$4.4b | CA$1.9b | -CA$282,235,636.00 | 9.4x | -15.7x | 2.3x |
| Sun, 28 Jan 2024 | CA$9.4b | CA$2.2b | CA$367.5m | 7.4x | 25.5x | 4.3x |
| Tue, 26 Dec 2023 | CA$9.2b | CA$2.2b | CA$367.5m | 6.8x | 25.1x | 4.2x |
| Thu, 23 Nov 2023 | CA$9.0b | CA$2.2b | CA$362.1m | 6.8x | 24.8x | 4.1x |
| Sat, 21 Oct 2023 | CA$8.9b | CA$2.0b | CA$250.7m | 6.3x | 35.4x | 4.4x |
| Mon, 18 Sep 2023 | CA$9.6b | CA$2.0b | CA$250.7m | 7.3x | 38.1x | 4.7x |
| Wed, 16 Aug 2023 | CA$9.5b | CA$2.1b | CA$247.6m | 6.6x | 38.3x | 4.5x |
| Fri, 14 Jul 2023 | CA$9.6b | CA$2.2b | CA$515.8m | 5.4x | 18.5x | 4.4x |
| Sun, 11 Jun 2023 | CA$9.6b | CA$2.2b | CA$515.8m | 5.4x | 18.5x | 4.4x |
| Tue, 09 May 2023 | CA$9.9b | CA$2.2b | CA$1.7b | 3.7x | 5.9x | 4.5x |
| Thu, 06 Apr 2023 | CA$10.3b | CA$2.2b | CA$1.7b | 4x | 6x | 4.7x |
| Sat, 04 Mar 2023 | CA$85.9b | CA$14.1b | CA$7.8b | 6.4x | 11.1x | 6.1x |
| Mon, 30 Jan 2023 | CA$86.8b | CA$14.4b | CA$11.1b | 5.4x | 7.8x | 6x |
| Wed, 28 Dec 2022 | CA$79.6b | CA$14.4b | CA$11.1b | 5.1x | 7.2x | 5.5x |
| Fri, 25 Nov 2022 | CA$80.9b | CA$14.3b | CA$11.1b | 5.3x | 7.3x | 5.6x |
| Sun, 23 Oct 2022 | CA$73.9b | CA$14.3b | CA$13.2b | 4.4x | 5.6x | 5.2x |
| Tue, 20 Sep 2022 | CA$80.3b | CA$14.3b | CA$13.2b | 4.5x | 6.1x | 5.6x |
Price to Earnings Ratio
6.1x
Current Industry PE
- Investors are relatively neutral on the Canadian 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 3.8x.
Past Earnings Growth
- Total earnings for the REITs industry have declined over the last three years, with the industry now making a loss overall.
- Revenues have also declined 54% per year, which is driving profits down.
Industry Trends
Which industries have driven the changes within the Canadian Real Estate industry?
| CA Market | 0.91% | |
| Real Estate | 0.44% | |
| REITS | 0.33% | |
| Office REITs | 6.54% | |
| Healthcare REITs | 1.78% | |
| Retail REITs | 0.42% | |
| Industrial REITs | 0.39% | |
| Diversified REITs | 0.33% | |
| Hotel and Resort REITs | -0.97% | |
| Residential REITs | -1.21% | |
| Specialized REITs | -1.62% | |
Industry PE
- Investors are most optimistic about the Retail REITs industry which is trading above its 3-year average PE ratio of 19.6x.
- Analysts are expecting annual earnings growth of 26.6%, which is lower than the prior year's growth of 48.8% per year.
Forecasted Growth
- Analysts are most optimistic on the Office REITs industry, expecting annual earnings growth of 106% over the next 5 years.
- This is better than its past earnings decline of 25% per year.
- In contrast, the Industrial REITs industry is expected to see its earnings grow by 11% 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 | |
|---|---|---|---|---|---|
| AX.UN Artis Real Estate Investment Trust | CA$7.56 | 2.3% +CA$16.4m | -5.6% | PB0.6x | |
| HR.UN H&R Real Estate Investment Trust | CA$12.12 | 0.2% +CA$5.3m | 6.4% | PB0.7x | |
| MRT.UN Morguard Real Estate Investment Trust | CA$5.78 | 0.3% +CA$1.3m | 3.2% | PB0.4x | |
| FCD.UN Firm Capital Property Trust | CA$6.06 | 0.2% +CA$369.3k | 4.7% | PB0.7x |