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Canadian (TSX) REITS Industry Analysis

UpdatedFeb 28, 2024
DataAggregated Company Financials
Companies9
  • 7D-3.3%
  • 3M2.3%
  • 1Y-27.3%
  • YTD-6.6%

Over the last 7 days, the REITS industry has dropped 3.3%, driven by a pullback from H&R Real Estate Investment Trust of 4.2%. The industry has fallen 27% in the last year. Earnings are forecast to grow by 62% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 28 Feb 2024CA$4.5bCA$1.9b-CA$282,235,636.009.6x-15.8x2.4x
Fri, 26 Jan 2024CA$9.4bCA$2.2bCA$367.5m7.3x25.5x4.3x
Sun, 24 Dec 2023CA$9.2bCA$2.2bCA$367.5m6.8x25.1x4.2x
Tue, 21 Nov 2023CA$9.0bCA$2.2bCA$370.3m6.7x24.2x4.1x
Thu, 19 Oct 2023CA$9.0bCA$2.0bCA$250.7m6.4x35.9x4.4x
Sat, 16 Sep 2023CA$9.4bCA$2.0bCA$250.7m7.2x37.5x4.6x
Mon, 14 Aug 2023CA$9.5bCA$2.1bCA$247.6m6.7x38.5x4.5x
Wed, 12 Jul 2023CA$9.5bCA$2.2bCA$515.8m5.4x18.4x4.4x
Fri, 09 Jun 2023CA$9.6bCA$2.2bCA$515.8m5.4x18.6x4.5x
Sun, 07 May 2023CA$9.9bCA$2.2bCA$1.7b3.7x5.9x4.6x
Tue, 04 Apr 2023CA$10.4bCA$2.2bCA$1.7b4.1x6.1x4.8x
Thu, 02 Mar 2023CA$85.5bCA$14.1bCA$7.9b5.8x10.8x6.1x
Sat, 28 Jan 2023CA$86.9bCA$14.4bCA$11.1b5.4x7.8x6x
Mon, 26 Dec 2022CA$79.6bCA$14.4bCA$11.1b5.1x7.2x5.5x
Wed, 23 Nov 2022CA$81.0bCA$14.3bCA$11.1b5.2x7.3x5.6x
Fri, 21 Oct 2022CA$73.1bCA$14.3bCA$13.2b4.3x5.5x5.1x
Sun, 18 Sep 2022CA$80.2bCA$14.3bCA$13.2b4.5x6.1x5.6x
Tue, 16 Aug 2022CA$86.4bCA$14.2bCA$13.2b4.9x6.6x6.1x
Thu, 14 Jul 2022CA$80.4bCA$13.8bCA$14.6b4.8x5.5x5.8x
Sat, 11 Jun 2022CA$85.7bCA$13.7bCA$14.6b5.1x5.9x6.2x
Mon, 09 May 2022CA$88.7bCA$13.7bCA$13.0b6.4x6.8x6.5x
Wed, 06 Apr 2022CA$96.6bCA$13.5bCA$11.7b8.4x8.3x7.1x
Fri, 04 Mar 2022CA$98.1bCA$14.1bCA$11.0b8.4x8.9x6.9x
Sun, 30 Jan 2022CA$94.6bCA$13.8bCA$9.4b9x10x6.9x
Tue, 28 Dec 2021CA$97.2bCA$13.6bCA$9.2b8.9x10.5x7.1x
Thu, 25 Nov 2021CA$97.0bCA$13.6bCA$9.2b9.2x10.5x7.1x
Sat, 23 Oct 2021CA$99.3bCA$13.7bCA$8.0b10.5x12.4x7.2x
Mon, 20 Sep 2021CA$97.0bCA$13.8bCA$8.0b10.1x12.1x7.1x
Wed, 18 Aug 2021CA$85.3bCA$13.7bCA$8.0b9.3x10.6x6.2x
Wed, 02 Jun 2021CA$78.6bCA$13.5bCA$4.0b11x19.5x5.8x
Sat, 06 Mar 2021CA$70.0bCA$13.5bCA$3.2b11.1x21.9x5.2x
Price to Earnings Ratio

21.9x


Total Market Cap: CA$70.0bTotal Earnings: CA$3.2bTotal Revenue: CA$13.5bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian REITS Industry Price to Earnings3Y Average 13.5x202220232024
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 5.6x 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 48% per year, which is driving profits down.

Industry Trends

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

CA Market0.75%
Real Estate-1.29%
REITS-3.30%
Residential REITs-0.50%
Office REITs-1.28%
Hotel and Resort REITs-1.44%
Industrial REITs-1.62%
Retail REITs-1.91%
Specialized REITs-2.53%
Diversified REITs-3.30%
Healthcare REITs-6.94%
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 72.7%, which is lower than the prior year's growth of 117.4% per year.
Forecasted Growth
  • Analysts are most optimistic on the Healthcare REITs industry, expecting annual earnings growth of 119% over the next 5 years.
  • In contrast, the Industrial REITs industry is expected to see its earnings grow by 30% 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
BTB.UN BTB Real Estate Investment TrustCA$3.072.3%
+CA$6.1m
-20.1%PB0.6x
NNL.U Nova Net Lease REITUS$0.40370.6%
+US$2.3m
263.6%PB0.2x
MRT.UN Morguard Real Estate Investment TrustCA$5.350.8%
+CA$2.9m
-3.2%PB0.4x
NET.UN Canadian Net Real Estate Investment TrustCA$4.900.8%
+CA$821.1k
-22.2%PB0.8x
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Latest News

BTB.UN

CA$3.07

BTB Real Estate Investment Trust

7D

2.3%

1Y

-20.1%

MR.UN

CA$3.06

Melcor Real Estate Investment Trust

7D

-25.0%

1Y

-46.8%

MRT.UN

CA$5.35

Morguard Real Estate Investment Trust

7D

0.8%

1Y

-3.2%

NNL.U

US$0.40

Nova Net Lease REIT

7D

370.6%

1Y

263.6%

HR.UN

CA$9.09

H&R Real Estate Investment Trust

7D

-4.2%

1Y

-30.3%

AX.UN

CA$5.99

Artis Real Estate Investment Trust

7D

-2.0%

1Y

-31.5%

FCD.UN

CA$4.80

Firm Capital Property Trust

7D

-1.0%

1Y

-18.1%