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Canadian (TSX) REITS Industry Analysis
UpdatedJul 22, 2025
DataAggregated Company Financials
Companies6
- 7D-1.9%
- 3M16.4%
- 1Y19.3%
- YTD18.4%
Over the last 7 days, the REITS industry has dropped 1.9%, driven by a pullback from H&R Real Estate Investment Trust of 2.9%. In the past year, the industry has gained 19%. Earnings are forecast to grow by 116% 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, 22 Jul 2025 | CA$5.1b | CA$1.6b | -CA$195,408,672.00 | 7.8x | -26.2x | 3.3x |
| Thu, 19 Jun 2025 | CA$4.8b | CA$1.6b | -CA$195,408,672.00 | 7.8x | -24.5x | 3.1x |
| Sat, 17 May 2025 | CA$4.6b | CA$1.5b | -CA$195,457,672.00 | 7.8x | -23.3x | 3x |
| Mon, 14 Apr 2025 | CA$4.3b | CA$1.6b | -CA$190,710,792.00 | 7.2x | -22.7x | 2.6x |
| Wed, 12 Mar 2025 | CA$4.7b | CA$1.7b | -CA$174,109,479.00 | 7.6x | -27x | 2.7x |
| Fri, 07 Feb 2025 | CA$4.6b | CA$1.7b | -CA$391,634,479.00 | 11.1x | -11.8x | 2.8x |
| Sun, 05 Jan 2025 | CA$4.5b | CA$1.7b | -CA$391,634,479.00 | 11x | -11.6x | 2.7x |
| Tue, 03 Dec 2024 | CA$4.7b | CA$1.7b | -CA$391,634,479.00 | 11.3x | -12.1x | 2.8x |
| Thu, 31 Oct 2024 | CA$5.4b | CA$1.9b | -CA$474,273,724.00 | 9.4x | -11.3x | 2.9x |
| Sat, 28 Sep 2024 | CA$5.6b | CA$1.9b | -CA$474,273,724.00 | 9.3x | -11.8x | 3x |
| Mon, 26 Aug 2024 | CA$4.7b | CA$1.6b | -CA$474,273,724.00 | 8.9x | -9.8x | 2.9x |
| Wed, 24 Jul 2024 | CA$4.7b | CA$1.8b | -CA$341,683,846.00 | 8.2x | -13.8x | 2.6x |
| Fri, 21 Jun 2024 | CA$4.4b | CA$1.8b | -CA$341,683,846.00 | 7.9x | -13x | 2.5x |
| Sun, 19 May 2024 | CA$4.7b | CA$1.8b | -CA$335,752,067.00 | 6.9x | -14x | 2.6x |
| Tue, 16 Apr 2024 | CA$4.5b | CA$1.8b | -CA$243,799,117.00 | 7.4x | -18.6x | 2.5x |
| Thu, 14 Mar 2024 | CA$4.4b | CA$1.8b | -CA$243,773,556.00 | 9.8x | -18.1x | 2.4x |
| Sat, 10 Feb 2024 | CA$4.8b | CA$1.9b | -CA$454,597,636.00 | 8.6x | -10.5x | 2.5x |
| Mon, 08 Jan 2024 | CA$9.3b | CA$2.2b | CA$367.5m | 7.1x | 25.4x | 4.3x |
| Wed, 06 Dec 2023 | CA$9.0b | CA$2.2b | CA$367.5m | 6.9x | 24.5x | 4.1x |
| Fri, 03 Nov 2023 | CA$8.9b | CA$2.0b | CA$269.3m | 6.6x | 32.9x | 4.3x |
| Sun, 01 Oct 2023 | CA$9.0b | CA$2.0b | CA$250.7m | 6.2x | 36x | 4.4x |
| Tue, 29 Aug 2023 | CA$9.5b | CA$2.0b | CA$250.7m | 7.3x | 38x | 4.7x |
| Thu, 27 Jul 2023 | CA$9.6b | CA$2.2b | CA$515.8m | 5.4x | 18.7x | 4.5x |
| Sat, 24 Jun 2023 | CA$9.4b | CA$2.2b | CA$515.8m | 5.4x | 18.2x | 4.3x |
| Mon, 22 May 2023 | CA$9.6b | CA$2.2b | CA$512.3m | 5.4x | 18.7x | 4.4x |
| Wed, 19 Apr 2023 | CA$10.3b | CA$2.2b | CA$1.7b | 3.9x | 6x | 4.7x |
| Fri, 17 Mar 2023 | CA$81.6b | CA$14.2b | CA$6.8b | 6.1x | 12x | 5.7x |
| Sun, 12 Feb 2023 | CA$85.5b | CA$13.4b | CA$10.3b | 5.7x | 8.3x | 6.4x |
| Tue, 10 Jan 2023 | CA$81.1b | CA$14.4b | CA$11.1b | 5.2x | 7.3x | 5.6x |
| Thu, 08 Dec 2022 | CA$80.5b | CA$14.4b | CA$11.1b | 5.2x | 7.2x | 5.6x |
| Sat, 05 Nov 2022 | CA$75.6b | CA$14.4b | CA$12.4b | 4.2x | 6.1x | 5.3x |
| Mon, 03 Oct 2022 | CA$73.8b | CA$14.3b | CA$13.2b | 4.4x | 5.6x | 5.2x |
| Wed, 31 Aug 2022 | CA$81.7b | CA$14.3b | CA$13.2b | 4.7x | 6.2x | 5.7x |
| Fri, 29 Jul 2022 | CA$82.6b | CA$13.9b | CA$14.7b | 4.9x | 5.6x | 6x |
Price to Earnings Ratio
5.6x
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 3.9x is higher than the industry's current PS ratio of 3.3x.
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 52% per year, which is driving profits down.
Industry Trends
Which industries have driven the changes within the Canadian Real Estate industry?
| CA Market | 0.024% | |
| Real Estate | -0.24% | |
| REITS | -1.93% | |
| Hotel and Resort REITs | 3.41% | |
| Retail REITs | -0.31% | |
| Residential REITs | -0.69% | |
| Industrial REITs | -0.74% | |
| Specialized REITs | -1.31% | |
| Diversified REITs | -1.93% | |
| Office REITs | -2.07% | |
| Healthcare REITs | -2.58% | |
Industry PE
- Investors are most optimistic about the Retail REITs industry which is trading above its 3-year average PE ratio of 18.7x.
- Analysts are expecting annual earnings growth of 28.2%, which is higher than its past year's earnings growth of 13.9% per year.
Forecasted Growth
- Analysts are most optimistic on the Healthcare REITs industry, expecting annual earnings growth of 136% over the next 5 years.
- In contrast, the Industrial REITs industry is expected to see its earnings grow by 6.7% 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$3.70 | 0.8% +CA$2.6m | 12.8% | PB0.7x | |
| AX.UN Artis Real Estate Investment Trust | CA$7.67 | 0.1% +CA$971.5k | 14.0% | PB0.5x |