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Canadian (TSX) REITS Industry Analysis
UpdatedFeb 20, 2026
DataAggregated Company Financials
Companies5
- 7D0.2%
- 3M5.0%
- 1Y6.0%
- YTD1.8%
The REITS is pretty flat in the last 7 days, but BTB Real Estate Investment Trust has stood out, gaining 3.4%. The past year has been better, since the industry has gained 6.0% in that time. As for the next few years, earnings are expected to grow by 120% 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 |
|---|---|---|---|---|---|---|
| Fri, 20 Feb 2026 | CA$4.1b | CA$1.3b | -CA$733,557,722.00 | 9.3x | -5.6x | 3x |
| Sun, 18 Jan 2026 | CA$4.2b | CA$1.3b | -CA$379,898,722.00 | 9.4x | -11.2x | 3.1x |
| Tue, 16 Dec 2025 | CA$3.9b | CA$1.3b | -CA$379,898,722.00 | 8.5x | -10.3x | 2.9x |
| Thu, 13 Nov 2025 | CA$4.2b | CA$1.2b | -CA$56,640,720.00 | 8.2x | -74x | 3.6x |
| Sat, 11 Oct 2025 | CA$4.8b | CA$1.4b | -CA$110,680,261.00 | 8.9x | -43.7x | 3.5x |
| Mon, 08 Sep 2025 | CA$5.2b | CA$1.4b | -CA$110,680,261.00 | 8.8x | -46.6x | 3.7x |
| Wed, 06 Aug 2025 | CA$5.0b | CA$1.5b | -CA$195,958,672.00 | 7.9x | -25.4x | 3.2x |
| Fri, 04 Jul 2025 | CA$4.8b | CA$1.6b | -CA$195,408,672.00 | 7.8x | -24.3x | 3.1x |
| Sun, 01 Jun 2025 | CA$4.5b | CA$1.6b | -CA$195,408,672.00 | 7.9x | -22.9x | 2.9x |
| Tue, 29 Apr 2025 | CA$4.5b | CA$1.6b | -CA$160,113,792.00 | 7.7x | -27.9x | 2.9x |
| Thu, 27 Mar 2025 | CA$4.8b | CA$1.6b | -CA$189,655,274.00 | 7.8x | -25.1x | 2.9x |
| Sat, 22 Feb 2025 | CA$4.8b | CA$1.7b | -CA$257,037,479.00 | 11.3x | -18.5x | 2.8x |
| Mon, 20 Jan 2025 | CA$4.4b | CA$1.7b | -CA$391,634,479.00 | 11.1x | -11.3x | 2.7x |
| Wed, 18 Dec 2024 | CA$4.6b | CA$1.7b | -CA$391,634,479.00 | 11.3x | -11.7x | 2.7x |
| Fri, 15 Nov 2024 | CA$5.1b | CA$1.8b | -CA$390,393,474.00 | 10.4x | -13.2x | 2.9x |
| Sun, 13 Oct 2024 | CA$5.4b | CA$1.9b | -CA$474,273,724.00 | 9.1x | -11.4x | 2.9x |
| Tue, 10 Sep 2024 | CA$5.2b | CA$1.9b | -CA$474,273,724.00 | 8.9x | -10.9x | 2.8x |
| Thu, 08 Aug 2024 | CA$4.7b | CA$1.8b | -CA$339,026,459.00 | 8.6x | -13.9x | 2.6x |
| Sat, 06 Jul 2024 | CA$4.5b | CA$1.8b | -CA$341,683,846.00 | 7.8x | -13.2x | 2.5x |
| Mon, 03 Jun 2024 | CA$4.6b | CA$1.8b | -CA$341,683,846.00 | 8.1x | -13.4x | 2.5x |
| Wed, 01 May 2024 | CA$4.5b | CA$1.8b | -CA$243,799,117.00 | 7.5x | -18.5x | 2.5x |
| Fri, 29 Mar 2024 | CA$4.6b | CA$1.8b | -CA$236,724,569.00 | 7.5x | -19.3x | 2.5x |
| Sun, 25 Feb 2024 | CA$4.6b | CA$1.9b | -CA$282,200,636.00 | 9.7x | -16.2x | 2.4x |
| Tue, 23 Jan 2024 | CA$9.4b | CA$2.2b | CA$367.5m | 7.4x | 25.5x | 4.3x |
| Thu, 21 Dec 2023 | CA$9.2b | CA$2.2b | CA$367.5m | 6.7x | 24.9x | 4.2x |
| Sat, 18 Nov 2023 | CA$8.9b | CA$2.2b | CA$370.3m | 6.7x | 24.1x | 4.1x |
| Mon, 16 Oct 2023 | CA$9.0b | CA$2.0b | CA$250.7m | 6.4x | 35.8x | 4.4x |
| Wed, 13 Sep 2023 | CA$9.4b | CA$2.0b | CA$250.7m | 7x | 37.6x | 4.6x |
| Fri, 11 Aug 2023 | CA$9.6b | CA$2.0b | CA$419.4m | 6.6x | 22.9x | 4.8x |
| Sun, 09 Jul 2023 | CA$9.5b | CA$2.2b | CA$515.8m | 5.4x | 18.4x | 4.4x |
| Tue, 06 Jun 2023 | CA$9.6b | CA$2.2b | CA$515.8m | 5.4x | 18.7x | 4.5x |
| Thu, 04 May 2023 | CA$9.8b | CA$2.2b | CA$1.7b | 3.7x | 5.9x | 4.5x |
| Sat, 01 Apr 2023 | CA$10.4b | CA$2.2b | CA$1.7b | 4.2x | 6.1x | 4.8x |
| Mon, 27 Feb 2023 | CA$86.2b | CA$14.1b | CA$8.1b | 5.8x | 10.6x | 6.1x |
Price to Earnings Ratio
10.6x
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 3.4x is higher than the industry's current PS ratio of 3.0x.
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 | 2.64% | |
| Real Estate | 1.57% | |
| REITS | 0.20% | |
| Specialized REITs | 4.96% | |
| Healthcare REITs | 4.92% | |
| Office REITs | 4.70% | |
| Retail REITs | 1.93% | |
| Industrial REITs | 1.06% | |
| Residential REITs | 0.76% | |
| Diversified REITs | 0.20% | |
| Hotel and Resort REITs | 0% | 0 |
Industry PE
- Investors are most optimistic about the Healthcare REITs industry which is trading above its 3-year average PE ratio.
- Analysts are expecting annual earnings growth of 39.0% and investors are willing to pay a premium for that growth.
Forecasted Growth
- Analysts are most optimistic on the Office REITs industry, expecting annual earnings growth of 131% over the next 5 years.
- This is better than its past earnings growth rate of 48% per year.
- In contrast, the Industrial REITs industry is expected to see its earnings grow by 18% 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 | |
|---|---|---|---|---|---|
| BTB.UN BTB Real Estate Investment Trust | CA$4.25 | 3.4% +CA$12.5m | 25.4% | PB0.8x | |
| FCD.UN Firm Capital Property Trust | CA$6.12 | 0.8% +CA$1.8m | -1.1% | PB0.7x | |
| NET.UN Canadian Net Real Estate Investment Trust | CA$6.06 | 0.3% +CA$412.0k | 13.7% | PB0.9x |