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Canadian (TSX) Office REITs Industry Analysis
UpdatedDec 09, 2025
DataAggregated Company Financials
Companies6
- 7D-1.5%
- 3M-27.3%
- 1Y-23.7%
- YTDn/a
Over the last 7 days, the Office REITs industry has risen 1.3%, driven by gains from Artis Real Estate Investment Trust of 7.0%. In the past year, the industry is down 22%. Looking forward, earnings are forecast to grow by 106% annually.
Industry Valuation and Performance
Has the Canadian Office REITs Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Tue, 09 Dec 2025 | CA$3.0b | CA$1.1b | -CA$882,904,738.00 | 27.7x | -3.4x | 2.7x |
| Thu, 06 Nov 2025 | CA$2.5b | CA$905.7m | -CA$817,888,386.00 | 43.5x | -3x | 2.7x |
| Sat, 04 Oct 2025 | CA$3.5b | CA$904.8m | -CA$798,676,386.00 | 38x | -4.4x | 3.9x |
| Mon, 01 Sep 2025 | CA$3.1b | CA$904.8m | -CA$798,676,386.00 | 38x | -3.9x | 3.4x |
| Wed, 30 Jul 2025 | CA$3.0b | CA$940.5m | -CA$660,526,611.00 | 28.6x | -4.5x | 3.2x |
| Fri, 27 Jun 2025 | CA$2.8b | CA$940.5m | -CA$660,526,611.00 | 32.7x | -4.3x | 3x |
| Sun, 25 May 2025 | CA$2.5b | CA$941.0m | -CA$660,529,770.00 | 26.4x | -3.8x | 2.7x |
| Tue, 22 Apr 2025 | CA$2.6b | CA$948.2m | -CA$537,515,454.00 | 30.8x | -4.9x | 2.8x |
| Thu, 20 Mar 2025 | CA$2.9b | CA$1.1b | -CA$956,473,454.00 | 30.8x | -3x | 2.5x |
| Sat, 15 Feb 2025 | CA$2.9b | CA$1.1b | -CA$970,573,454.00 | 30.8x | -3x | 2.6x |
| Mon, 13 Jan 2025 | CA$2.9b | CA$1.1b | -CA$1,212,261,454.00 | 30.8x | -2.4x | 2.6x |
| Wed, 11 Dec 2024 | CA$3.1b | CA$1.1b | -CA$1,212,261,454.00 | 30.8x | -2.6x | 2.8x |
| Fri, 08 Nov 2024 | CA$3.2b | CA$1.1b | -CA$1,004,009,412.00 | 28.5x | -3.2x | 2.8x |
| Sun, 06 Oct 2024 | CA$3.5b | CA$1.1b | -CA$935,578,412.00 | 24.4x | -3.7x | 3.1x |
| Tue, 03 Sep 2024 | CA$3.0b | CA$1.1b | -CA$935,578,412.00 | 20.3x | -3.2x | 2.7x |
| Thu, 01 Aug 2024 | CA$2.9b | CA$1.1b | -CA$801,444,696.00 | 28.5x | -3.6x | 2.6x |
| Sat, 29 Jun 2024 | CA$2.7b | CA$1.1b | -CA$820,658,696.00 | 38x | -3.3x | 2.5x |
| Mon, 27 May 2024 | CA$2.9b | CA$1.1b | -CA$820,649,958.00 | 26.9x | -3.6x | 2.7x |
| Wed, 24 Apr 2024 | CA$3.0b | CA$1.1b | -CA$811,528,728.00 | n/a | -3.7x | 2.8x |
| Fri, 22 Mar 2024 | CA$3.0b | CA$1.1b | -CA$816,996,728.00 | n/a | -3.6x | 2.7x |
| Sun, 18 Feb 2024 | CA$3.1b | CA$1.1b | -CA$832,964,728.00 | n/a | -3.7x | 2.8x |
| Tue, 16 Jan 2024 | CA$3.7b | CA$1.1b | -CA$387,958,728.00 | n/a | -9.5x | 3.4x |
| Thu, 14 Dec 2023 | CA$3.1b | CA$1.1b | -CA$387,958,728.00 | n/a | -8.1x | 2.9x |
| Sat, 11 Nov 2023 | CA$2.9b | CA$1.1b | -CA$270,742,395.00 | n/a | -10.7x | 2.7x |
| Mon, 09 Oct 2023 | CA$3.2b | CA$1.1b | -CA$232,577,395.00 | n/a | -13.6x | 2.9x |
| Wed, 06 Sep 2023 | CA$3.9b | CA$1.1b | -CA$232,577,395.00 | n/a | -16.7x | 3.6x |
| Fri, 04 Aug 2023 | CA$4.0b | CA$1.1b | -CA$117,990,067.00 | 30.5x | -34x | 3.5x |
| Sun, 02 Jul 2023 | CA$4.0b | CA$1.1b | -CA$1,035,067.00 | 33.1x | -3892.3x | 3.6x |
| Tue, 30 May 2023 | CA$4.4b | CA$1.1b | -CA$1,035,067.00 | 48.8x | -4281.3x | 3.9x |
| Thu, 27 Apr 2023 | CA$4.6b | CA$1.1b | CA$195.6m | 13.9x | 23.6x | 4x |
| Sat, 25 Mar 2023 | CA$1.4b | CA$598.3m | CA$63.6m | 15x | 22.1x | 2.3x |
| Mon, 20 Feb 2023 | CA$6.1b | CA$1.2b | CA$472.3m | 4.5x | 12.8x | 5.2x |
| Wed, 18 Jan 2023 | CA$5.8b | CA$1.3b | CA$793.7m | 4.5x | 7.3x | 4.6x |
| Fri, 16 Dec 2022 | CA$5.2b | CA$1.3b | CA$793.7m | 4.2x | 6.6x | 4.2x |
Price to Earnings Ratio
6.6x
Current Industry PE
- Investors are pessimistic on the Canadian Office REITs industry, indicating that they anticipate long term growth rates will be lower than they have historically.
- The 3-year average PS ratio of 3.2x is higher than the industry's current PS ratio of 2.7x.
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 4.2% per year, which is driving profits down.
Industry Comparison
How does Canadian Office REITs compare with similar industries?
| CA Market | -0.18% | |
| Real Estate | -1.70% | |
| REITS | -2.60% | |
| Office REITs | -1.48% | |
| Hotel and Resort REITs | 7.66% | |
| Specialized REITs | 0.28% | |
| Industrial REITs | -1.62% | |
| Retail REITs | -1.66% | |
| Healthcare REITs | -2.06% | |
| Residential REITs | -2.15% | |
| Diversified REITs | -2.60% | |
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?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| AX.UN Artis Real Estate Investment Trust | CA$7.06 | 7.0% +CA$44.1m | -5.4% | PB0.5x | |
| D.UN Dream Office Real Estate Investment Trust | CA$17.21 | 0.2% +CA$491.1k | -8.9% | PB0.3x |