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Canadian (TSX) Office REITs Industry Analysis

UpdatedAug 25, 2025
DataAggregated Company Financials
Companies5
  • 7D2.2%
  • 3M18.0%
  • 1Y2.1%
  • YTDn/a

In the last week, the Office REITs industry is up 2.2%, with Allied Properties Real Estate Investment Trust up 2.3%. Overall in the last year, the industry is flat. Earnings are forecast to grow by 112% annually.

Industry Valuation and Performance

Has the Canadian Office REITs Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 25 Aug 2025CA$3.1bCA$904.8m-CA$798,665,611.0028.6x-3.9x3.4x
Wed, 23 Jul 2025CA$3.0bCA$940.5m-CA$660,526,611.0028.6x-4.5x3.2x
Fri, 20 Jun 2025CA$2.8bCA$940.5m-CA$660,526,611.0036.8x-4.3x3x
Sun, 18 May 2025CA$2.6bCA$941.0m-CA$660,529,770.0026.4x-4x2.8x
Tue, 15 Apr 2025CA$2.5bCA$948.2m-CA$537,515,454.0030.8x-4.6x2.6x
Thu, 13 Mar 2025CA$2.8bCA$1.1b-CA$947,250,454.0030.8x-3x2.5x
Sat, 08 Feb 2025CA$3.0bCA$1.1b-CA$970,573,454.0030.8x-3.1x2.6x
Mon, 06 Jan 2025CA$3.0bCA$1.1b-CA$1,212,261,454.0030.8x-2.5x2.7x
Wed, 04 Dec 2024CA$3.1bCA$1.1b-CA$1,212,261,454.0030.8x-2.5x2.7x
Fri, 01 Nov 2024CA$3.4bCA$1.1b-CA$1,004,009,412.0024.4x-3.4x3x
Sun, 29 Sep 2024CA$3.5bCA$1.1b-CA$935,578,412.0020.3x-3.7x3.1x
Tue, 27 Aug 2024CA$3.1bCA$1.1b-CA$935,578,412.0020.3x-3.3x2.7x
Thu, 25 Jul 2024CA$3.0bCA$1.1b-CA$820,658,696.0033.3x-3.7x2.8x
Sat, 22 Jun 2024CA$2.7bCA$1.1b-CA$820,658,696.0028.5x-3.3x2.5x
Mon, 20 May 2024CA$3.0bCA$1.1b-CA$820,649,958.0026.9x-3.6x2.7x
Wed, 17 Apr 2024CA$3.0bCA$1.1b-CA$811,528,728.00n/a-3.7x2.8x
Fri, 15 Mar 2024CA$2.9bCA$1.1b-CA$832,964,728.00n/a-3.5x2.7x
Sun, 11 Feb 2024CA$3.1bCA$1.1b-CA$905,307,728.00n/a-3.4x2.8x
Tue, 09 Jan 2024CA$3.5bCA$1.1b-CA$387,958,728.00n/a-9.1x3.3x
Thu, 07 Dec 2023CA$3.2bCA$1.1b-CA$387,958,728.00n/a-8.3x3x
Sat, 04 Nov 2023CA$3.2bCA$1.1b-CA$256,254,395.00n/a-12.4x2.9x
Mon, 02 Oct 2023CA$3.3bCA$1.1b-CA$232,577,395.00n/a-14.1x3x
Wed, 30 Aug 2023CA$4.0bCA$1.1b-CA$232,577,395.00n/a-17x3.6x
Fri, 28 Jul 2023CA$4.2bCA$1.1b-CA$1,035,067.0037.4x-4085.7x3.8x
Sun, 25 Jun 2023CA$3.8bCA$1.1b-CA$1,035,067.0031.7x-3694.3x3.4x
Tue, 23 May 2023CA$4.4bCA$1.1b-CA$1,019,529.0048.5x-4322.6x3.9x
Thu, 20 Apr 2023CA$4.6bCA$1.1bCA$195.6m14.3x23.4x4x
Sat, 18 Mar 2023CA$5.0bCA$1.1bCA$221.5m15x22.4x4.3x
Mon, 13 Feb 2023CA$5.9bCA$1.2bCA$472.3m4.3x12.5x5x
Wed, 11 Jan 2023CA$5.5bCA$1.3bCA$793.7m4.3x6.9x4.4x
Fri, 09 Dec 2022CA$5.3bCA$1.3bCA$793.7m4.2x6.7x4.2x
Sun, 06 Nov 2022CA$5.2bCA$1.3bCA$874.6m5.6x5.9x4.1x
Tue, 04 Oct 2022CA$5.5bCA$1.2bCA$935.3m5.6x5.8x4.4x
Thu, 01 Sep 2022CA$6.1bCA$1.2bCA$935.3m6.1x6.5x4.9x
Price to Earnings Ratio

6.5x


Total Market Cap: CA$6.1bTotal Earnings: CA$935.3mTotal Revenue: CA$1.2bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Office REITs Industry Price to Earnings3Y Average -299.5x202320242025
Current Industry PE
  • Investors are relatively neutral on the Canadian Office REITs industry at the moment, indicating that they anticipate long term growth rates to remain steady.
  • The industry is trading close to its 3-year average PS ratio of 3.3x.
Past Earnings Growth
  • Total earnings for the Office REITs industry have declined over the last three years, with the industry now making a loss overall.
  • Revenues have also declined 10% per year, which is driving profits down.

Industry Comparison

How does Canadian Office REITs compare with similar industries?

CA Market1.64%
Real Estate1.56%
REITS1.85%
Office REITs2.20%
Hotel and Resort REITs5.56%
Specialized REITs3.03%
Industrial REITs2.97%
Healthcare REITs2.89%
Diversified REITs1.85%
Retail REITs1.53%
Residential REITs0.93%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
AP.UN Allied Properties Real Estate Investment TrustCA$18.592.3%
+CA$58.7m		4.8%PB0.5x
D.UN Dream Office Real Estate Investment TrustCA$17.202.3%
+CA$6.2m		-10.9%PB0.3x
TNT.UN True North Commercial Real Estate Investment TrustCA$9.350.6%
+CA$838.8k		-5.4%PB0.3x
RPR.UN Ravelin Properties REITCA$0.402.6%
+CA$805.6k		14.3%PB0.7x

Latest News

D.UN
CA$17.20
Dream Office Real Estate Investment Trust
7D
2.3%
1Y
-10.9%
AP.UN
CA$18.59
Allied Properties Real Estate Investment Trust
7D
2.3%
1Y
4.8%
TNT.UN
CA$9.35
True North Commercial Real Estate Investment Trust
7D
0.6%
1Y
-5.4%
INO.UN
CA$0.85
Inovalis Real Estate Investment Trust
7D
-1.2%
1Y
-19.0%
RPR.UN
CA$0.40
Ravelin Properties REIT
7D
2.6%
1Y
14.3%