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Canadian (TSX) REITS Industry Analysis
UpdatedJan 16, 2026
DataAggregated Company Financials
Companies5
- 7D-0.4%
- 3M-3.1%
- 1Y17.1%
- YTD4.2%
In the last week, REITS has been flat. The past year has been better, since the industry has gained 17% in that time. 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 |
|---|---|---|---|---|---|---|
| Fri, 16 Jan 2026 | CA$4.2b | CA$1.3b | -CA$379,898,722.00 | 9.4x | -11.1x | 3.1x |
| Sun, 14 Dec 2025 | CA$3.9b | CA$1.3b | -CA$379,898,722.00 | 8.6x | -10.3x | 2.9x |
| Tue, 11 Nov 2025 | CA$4.2b | CA$1.2b | -CA$56,640,720.00 | 8.2x | -74.1x | 3.6x |
| Thu, 09 Oct 2025 | CA$4.9b | CA$1.4b | -CA$110,680,261.00 | 9x | -44x | 3.5x |
| Sat, 06 Sep 2025 | CA$5.1b | CA$1.4b | -CA$110,680,261.00 | 8.8x | -46.1x | 3.7x |
| Mon, 04 Aug 2025 | CA$5.0b | CA$1.5b | -CA$194,880,672.00 | 7.9x | -25.5x | 3.2x |
| Wed, 02 Jul 2025 | CA$4.8b | CA$1.6b | -CA$195,408,672.00 | 7.7x | -24.4x | 3.1x |
| Fri, 30 May 2025 | CA$4.6b | CA$1.6b | -CA$195,408,672.00 | 7.9x | -23.4x | 2.9x |
| Sun, 27 Apr 2025 | CA$4.5b | CA$1.6b | -CA$160,113,792.00 | 7.7x | -27.9x | 2.9x |
| Tue, 25 Mar 2025 | CA$4.7b | CA$1.6b | -CA$189,655,274.00 | 7.8x | -24.9x | 2.9x |
| Thu, 20 Feb 2025 | CA$4.7b | CA$1.7b | -CA$257,037,479.00 | 11.1x | -18.4x | 2.8x |
| Sat, 18 Jan 2025 | CA$4.4b | CA$1.7b | -CA$391,634,479.00 | 11.1x | -11.3x | 2.7x |
| Mon, 16 Dec 2024 | CA$4.3b | CA$1.7b | -CA$391,634,479.00 | 11.3x | -11.1x | 2.6x |
| Wed, 13 Nov 2024 | CA$5.3b | CA$1.9b | -CA$333,296,474.00 | 10.3x | -15.8x | 2.7x |
| Fri, 11 Oct 2024 | CA$5.4b | CA$1.9b | -CA$474,273,724.00 | 9x | -11.3x | 2.9x |
| Sun, 08 Sep 2024 | CA$5.2b | CA$1.9b | -CA$474,273,724.00 | 8.8x | -10.9x | 2.7x |
| Tue, 06 Aug 2024 | CA$4.7b | CA$1.8b | -CA$338,765,846.00 | 7.9x | -13.8x | 2.6x |
| Thu, 04 Jul 2024 | CA$4.5b | CA$1.8b | -CA$341,683,846.00 | 7.9x | -13.1x | 2.5x |
| Sat, 01 Jun 2024 | CA$4.5b | CA$1.8b | -CA$341,683,846.00 | 8.1x | -13.3x | 2.5x |
| Mon, 29 Apr 2024 | CA$4.5b | CA$1.8b | -CA$243,799,117.00 | 7.6x | -18.6x | 2.5x |
| Wed, 27 Mar 2024 | CA$4.5b | CA$1.8b | -CA$236,724,569.00 | 7.5x | -19.1x | 2.5x |
| Fri, 23 Feb 2024 | CA$4.6b | CA$1.9b | -CA$282,200,636.00 | 9.9x | -16.5x | 2.5x |
| Sun, 21 Jan 2024 | CA$9.3b | CA$2.2b | CA$367.5m | 7.3x | 25.3x | 4.3x |
| Tue, 19 Dec 2023 | CA$9.1b | CA$2.2b | CA$367.5m | 6.9x | 24.9x | 4.2x |
| Thu, 16 Nov 2023 | CA$8.9b | CA$2.2b | CA$370.3m | 6.6x | 24.1x | 4.1x |
| Sat, 14 Oct 2023 | CA$9.0b | CA$2.0b | CA$250.7m | 6.4x | 35.8x | 4.4x |
| Mon, 11 Sep 2023 | CA$9.2b | CA$2.0b | CA$250.7m | 6.9x | 36.6x | 4.5x |
| Wed, 09 Aug 2023 | CA$9.6b | CA$2.0b | CA$429.7m | 5.8x | 22.3x | 4.8x |
| Fri, 07 Jul 2023 | CA$9.5b | CA$2.2b | CA$515.8m | 5.4x | 18.5x | 4.4x |
| Sun, 04 Jun 2023 | CA$9.6b | CA$2.2b | CA$515.8m | 5.4x | 18.7x | 4.5x |
| Tue, 02 May 2023 | CA$10.0b | CA$2.2b | CA$1.7b | 3.8x | 6x | 4.6x |
| Thu, 30 Mar 2023 | CA$10.3b | CA$2.2b | CA$1.7b | 4.1x | 6.1x | 4.7x |
| Sat, 25 Feb 2023 | CA$86.2b | CA$14.1b | CA$8.3b | 5.7x | 10.4x | 6.1x |
| Mon, 23 Jan 2023 | CA$85.5b | CA$14.4b | CA$11.1b | 5.4x | 7.7x | 5.9x |
Price to Earnings Ratio
7.7x
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 3.5x is higher than the industry's current PS ratio of 3.1x.
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 | 2.30% | |
| Real Estate | 1.86% | |
| REITS | -0.40% | |
| Office REITs | 3.99% | |
| Industrial REITs | 3.65% | |
| Healthcare REITs | 2.37% | |
| Retail REITs | 1.77% | |
| Residential REITs | 1.00% | |
| Specialized REITs | 0.98% | |
| Hotel and Resort REITs | 0.57% | |
| Diversified REITs | -0.40% | |
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$4.22 | 2.2% +CA$7.9m | 26.3% | PB0.7x | |
| NET.UN Canadian Net Real Estate Investment Trust | CA$6.16 | 6.4% +CA$7.6m | 20.3% | PB0.9x | |
| MRT.UN Morguard Real Estate Investment Trust | CA$6.37 | 1.1% +CA$4.7m | 15.2% | PB0.5x |