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Canadian (TSX) REITS Industry Analysis
UpdatedDec 29, 2025
DataAggregated Company Financials
Companies5
- 7D-1.7%
- 3M-9.3%
- 1Y10.9%
- YTD11.0%
Over the last 7 days, the REITS industry has dropped 1.7%, driven by H&R Real Estate Investment Trust declining 1.3%. Over the past 12 months, the industry was up 11%. Looking forward, earnings are forecast to grow by 103% annually.
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 |
|---|---|---|---|---|---|---|
| Tue, 30 Dec 2025 | CA$4.0b | CA$1.3b | -CA$379,898,722.00 | 8.6x | -10.5x | 3x |
| Thu, 27 Nov 2025 | CA$4.0b | CA$1.3b | -CA$379,898,722.00 | 8.4x | -10.5x | 3x |
| Sat, 25 Oct 2025 | CA$5.0b | CA$1.4b | -CA$110,680,261.00 | 9.1x | -44.8x | 3.6x |
| Mon, 22 Sep 2025 | CA$5.1b | CA$1.4b | -CA$110,680,261.00 | 8.7x | -46.1x | 3.7x |
| Wed, 20 Aug 2025 | CA$5.0b | CA$1.4b | -CA$118,247,644.00 | 8.5x | -42.7x | 3.7x |
| Fri, 18 Jul 2025 | CA$5.1b | CA$1.6b | -CA$195,408,672.00 | 7.8x | -26.2x | 3.3x |
| Sun, 15 Jun 2025 | CA$4.8b | CA$1.6b | -CA$195,408,672.00 | 7.8x | -24.5x | 3.1x |
| Tue, 13 May 2025 | CA$4.5b | CA$1.5b | -CA$121,473,149.00 | 7.8x | -37.1x | 2.9x |
| Thu, 10 Apr 2025 | CA$4.3b | CA$1.6b | -CA$190,710,792.00 | 7.4x | -22.8x | 2.7x |
| Sat, 08 Mar 2025 | CA$4.8b | CA$1.7b | -CA$174,109,479.00 | 7.8x | -27.4x | 2.8x |
| Mon, 03 Feb 2025 | CA$4.5b | CA$1.7b | -CA$391,634,479.00 | 11x | -11.5x | 2.7x |
| Wed, 01 Jan 2025 | CA$4.5b | CA$1.7b | -CA$391,634,479.00 | 10.6x | -11.4x | 2.7x |
| Fri, 29 Nov 2024 | CA$5.0b | CA$1.8b | -CA$391,286,479.00 | 12.9x | -12.9x | 2.8x |
| Sun, 27 Oct 2024 | CA$5.4b | CA$1.9b | -CA$474,273,724.00 | 9.5x | -11.4x | 2.9x |
| Tue, 24 Sep 2024 | CA$5.5b | CA$1.9b | -CA$474,273,724.00 | 9.3x | -11.7x | 2.9x |
| Thu, 22 Aug 2024 | CA$4.8b | CA$1.6b | -CA$476,794,956.00 | 9x | -10x | 2.9x |
| Sat, 20 Jul 2024 | CA$4.7b | CA$1.8b | -CA$341,683,846.00 | 8.1x | -13.7x | 2.6x |
| Mon, 17 Jun 2024 | CA$4.5b | CA$1.8b | -CA$341,683,846.00 | 7.9x | -13.2x | 2.5x |
| Wed, 15 May 2024 | CA$4.6b | CA$1.8b | -CA$277,230,117.00 | 8.1x | -16.5x | 2.5x |
| Fri, 12 Apr 2024 | CA$4.6b | CA$1.8b | -CA$243,799,117.00 | 7.6x | -18.9x | 2.5x |
| Sun, 10 Mar 2024 | CA$4.5b | CA$1.8b | -CA$241,919,636.00 | 9.6x | -18.5x | 2.5x |
| Tue, 06 Feb 2024 | CA$4.7b | CA$1.9b | -CA$454,597,636.00 | 8.4x | -10.4x | 2.5x |
| Thu, 04 Jan 2024 | CA$9.2b | CA$2.2b | CA$367.5m | 6.9x | 25.2x | 4.2x |
| Sat, 02 Dec 2023 | CA$8.8b | CA$2.2b | CA$367.5m | 6.8x | 24.1x | 4.1x |
| Mon, 30 Oct 2023 | CA$8.8b | CA$2.0b | CA$269.3m | 6.2x | 32.6x | 4.3x |
| Wed, 27 Sep 2023 | CA$9.1b | CA$2.0b | CA$250.7m | 6.7x | 36.5x | 4.5x |
| Fri, 25 Aug 2023 | CA$9.5b | CA$2.0b | CA$250.7m | 7.3x | 37.9x | 4.7x |
| Sun, 23 Jul 2023 | CA$9.6b | CA$2.2b | CA$515.8m | 5.4x | 18.6x | 4.5x |
| Tue, 20 Jun 2023 | CA$9.6b | CA$2.2b | CA$515.8m | 5.4x | 18.5x | 4.4x |
| Thu, 18 May 2023 | CA$9.6b | CA$2.2b | CA$511.1m | 5.4x | 18.8x | 4.4x |
| Sat, 15 Apr 2023 | CA$10.2b | CA$2.2b | CA$1.7b | 3.9x | 6x | 4.7x |
| Mon, 13 Mar 2023 | CA$82.5b | CA$14.2b | CA$6.9b | 6.2x | 11.9x | 5.8x |
| Wed, 08 Feb 2023 | CA$85.8b | CA$14.3b | CA$10.8b | 5.3x | 8x | 6x |
| Fri, 06 Jan 2023 | CA$80.5b | CA$14.4b | CA$11.1b | 5.2x | 7.2x | 5.6x |
Price to Earnings Ratio
7.2x
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 3.6x 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 55% per year, which is driving profits down.
Industry Trends
Which industries have driven the changes within the Canadian Real Estate industry?
| CA Market | 0.90% | |
| Real Estate | -0.12% | |
| REITS | -1.71% | |
| Hotel and Resort REITs | 7.01% | |
| Office REITs | 1.70% | |
| Industrial REITs | -0.46% | |
| Residential REITs | -0.57% | |
| Specialized REITs | -0.63% | |
| Retail REITs | -0.73% | |
| Healthcare REITs | -0.97% | |
| Diversified REITs | -1.71% | |
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 37.7% 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 106% 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 13% 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$4.12 | 1.2% +CA$4.4m | 20.5% | PB0.7x | |
| FCD.UN Firm Capital Property Trust | CA$6.04 | 1.7% +CA$3.7m | 10.8% | PB0.7x | |
| NET.UN Canadian Net Real Estate Investment Trust | CA$5.67 | 0.5% +CA$617.9k | 11.4% | PB0.9x |