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Canadian (TSX) REITS Industry Analysis

UpdatedMar 18, 2024
DataAggregated Company Financials
Companies9
  • 7D-1.5%
  • 3M-6.6%
  • 1Y-24.8%
  • YTD-8.8%

Over the last 7 days, the REITS industry has dropped 1.5%, driven by H&R Real Estate Investment Trust declining 3.1%. However, the industry is down 25% over the past year. As for the next few years, earnings are expected to grow by 62% per annum.

Industry Valuation and Performance

Has the Canadian REITS Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 18 Mar 2024CA$4.4bCA$1.8b-CA$243,773,556.009.7x-18x2.4x
Wed, 14 Feb 2024CA$4.7bCA$1.9b-CA$454,597,636.008.3x-10.2x2.4x
Fri, 12 Jan 2024CA$9.3bCA$2.2bCA$367.5m7.2x25.3x4.3x
Sun, 10 Dec 2023CA$8.8bCA$2.2bCA$367.5m6.7x23.9x4x
Tue, 07 Nov 2023CA$9.1bCA$2.0bCA$224.6m6.7x40.5x4.5x
Thu, 05 Oct 2023CA$9.0bCA$2.0bCA$250.7m6x36x4.4x
Sat, 02 Sep 2023CA$9.5bCA$2.0bCA$250.7m7.3x38x4.7x
Mon, 31 Jul 2023CA$9.5bCA$2.2bCA$486.3m5.4x19.6x4.4x
Wed, 28 Jun 2023CA$9.5bCA$2.2bCA$515.8m5.4x18.4x4.4x
Fri, 26 May 2023CA$9.5bCA$2.2bCA$512.3m5.4x18.6x4.4x
Sun, 23 Apr 2023CA$10.1bCA$2.2bCA$1.7b3.8x5.9x4.7x
Tue, 21 Mar 2023CA$10.4bCA$2.2bCA$1.8b4.7x5.9x4.8x
Thu, 16 Feb 2023CA$86.5bCA$14.0bCA$9.5b5.8x9.1x6.2x
Sat, 14 Jan 2023CA$84.8bCA$14.4bCA$11.1b5.4x7.6x5.9x
Mon, 12 Dec 2022CA$80.3bCA$14.4bCA$11.1b5.3x7.2x5.6x
Wed, 09 Nov 2022CA$78.1bCA$14.2bCA$12.1b4.4x6.4x5.5x
Fri, 07 Oct 2022CA$73.7bCA$14.3bCA$13.2b4.5x5.6x5.2x
Sun, 04 Sep 2022CA$80.3bCA$14.3bCA$13.2b4.6x6.1x5.6x
Tue, 02 Aug 2022CA$85.1bCA$13.9bCA$14.5b4.8x5.9x6.1x
Thu, 30 Jun 2022CA$80.6bCA$13.8bCA$14.6b4.7x5.5x5.9x
Sat, 28 May 2022CA$90.0bCA$13.7bCA$14.6b5.5x6.2x6.6x
Mon, 25 Apr 2022CA$96.0bCA$13.5bCA$11.7b8.3x8.2x7.1x
Wed, 23 Mar 2022CA$102.0bCA$14.2bCA$11.6b8.4x8.8x7.2x
Fri, 18 Feb 2022CA$96.5bCA$13.7bCA$10.6b8.9x9.1x7x
Sun, 16 Jan 2022CA$96.4bCA$13.8bCA$9.4b9x10.2x7x
Tue, 14 Dec 2021CA$94.7bCA$13.6bCA$9.3b8.8x10.2x7x
Thu, 11 Nov 2021CA$101.3bCA$13.9bCA$9.3b9.5x10.9x7.3x
Sat, 09 Oct 2021CA$95.5bCA$13.7bCA$8.0b9.9x11.9x7x
Mon, 06 Sep 2021CA$87.1bCA$13.7bCA$8.0b9.6x10.9x6.3x
Wed, 04 Aug 2021CA$84.5bCA$13.7bCA$8.0b9.2x10.5x6.2x
Sat, 08 May 2021CA$76.3bCA$13.5bCA$4.0b10.5x18.9x5.7x
Price to Earnings Ratio

18.1x


Total Market Cap: CA$73.2bTotal Earnings: CA$4.0bTotal Revenue: CA$13.5bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian REITS Industry Price to Earnings3Y Average 13x202220232024
Current Industry PE
  • Investors are pessimistic on the Canadian REITs industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The 3-year average PS ratio of 5.5x is higher than the industry's current PS ratio of 2.4x.
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 49% per year, which is driving profits down.

Industry Trends

Which industries have driven the changes within the Canadian Real Estate industry?

CA Market0.35%
Real Estate-0.70%
REITS-1.50%
Healthcare REITs8.04%
Hotel and Resort REITs-0.56%
Specialized REITs-1.34%
Office REITs-1.46%
Residential REITs-1.47%
Diversified REITs-1.50%
Retail REITs-1.75%
Industrial REITs-2.33%
Industry PE
  • Investors are most optimistic about the Residential REITs industry which is trading above its 3-year average PE ratio.
    • Analysts are expecting annual earnings growth of 85.6%, which is higher than its past year's earnings growth of 53.1% per year.
Forecasted Growth
  • Analysts are most optimistic on the Hotel and Resort REITs industry, expecting annual earnings growth of 123% over the next 5 years.
  • This is better than its past earnings decline of 10% per year.
  • In contrast, the Industrial REITs industry is expected to see its earnings grow by 34% 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
AX.UN Artis Real Estate Investment TrustCA$6.142.3%
+CA$15.1m
-22.0%PB0.4x
PRV.UN Pro Real Estate Investment TrustCA$5.330.8%
+CA$2.4m
-8.7%PB0.6x
MR.UN Melcor Real Estate Investment TrustCA$2.614.4%
+CA$1.4m
-51.7%PB0.2x
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MRT.UN

CA$5.33

Morguard Real Estate Investment Trust

7D

-0.4%

1Y

0.4%

FCD.UN

CA$4.69

Firm Capital Property Trust

7D

-0.6%

1Y

-17.9%

AX.UN

CA$6.14

Artis Real Estate Investment Trust

7D

2.3%

1Y

-22.0%

NET.UN

CA$4.80

Canadian Net Real Estate Investment Trust

7D

-1.0%

1Y

-17.9%

MR.UN

CA$2.61

Melcor Real Estate Investment Trust

7D

4.4%

1Y

-51.7%

NNL.U

US$0.30

Nova Net Lease REIT

7D

-38.8%

1Y

172.7%