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Canadian (TSX) Office REITs Industry Analysis

UpdatedJul 15, 2025
DataAggregated Company Financials
Companies5
  • 7D3.6%
  • 3M18.9%
  • 1Y4.8%
  • YTDn/a

The Office REITs industry is up 3.6% in the last week, with Allied Properties Real Estate Investment Trust up 4.0%. In the same time, Pine Trail Real Estate Investment Trust was down 13%. This takes the industry's 12 month performance to a gain of 4.8%. 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?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 15 Jul 2025CA$3.0bCA$940.5m-CA$660,526,611.0028.6x-4.6x3.2x
Thu, 12 Jun 2025CA$2.8bCA$940.5m-CA$660,526,611.0024.5x-4.3x3x
Sat, 10 May 2025CA$2.5bCA$942.8m-CA$671,455,770.0030.8x-3.7x2.7x
Mon, 07 Apr 2025CA$2.6bCA$954.1m-CA$537,515,454.0030.8x-4.9x2.8x
Wed, 05 Mar 2025CA$2.9bCA$1.1b-CA$947,250,454.0030.8x-3.1x2.5x
Fri, 31 Jan 2025CA$3.0bCA$1.1b-CA$1,212,261,454.0030.8x-2.4x2.6x
Sun, 29 Dec 2024CA$3.0bCA$1.1b-CA$1,212,261,454.0035.9x-2.5x2.7x
Tue, 26 Nov 2024CA$3.0bCA$1.1b-CA$1,212,252,412.0024.4x-2.5x2.7x
Thu, 24 Oct 2024CA$3.5bCA$1.1b-CA$935,578,412.0024.4x-3.8x3.1x
Sat, 21 Sep 2024CA$3.4bCA$1.1b-CA$935,578,412.0028.5x-3.6x3x
Mon, 19 Aug 2024CA$2.9bCA$1.1b-CA$935,584,696.0023.8x-3.1x2.6x
Wed, 17 Jul 2024CA$2.9bCA$1.1b-CA$820,658,696.0023.8x-3.6x2.7x
Fri, 14 Jun 2024CA$2.8bCA$1.1b-CA$820,658,696.0033.3x-3.4x2.6x
Sun, 12 May 2024CA$2.9bCA$1.1b-CA$820,649,958.0026.9x-3.6x2.7x
Tue, 09 Apr 2024CA$3.1bCA$1.1b-CA$811,528,728.00n/a-3.8x2.8x
Thu, 07 Mar 2024CA$2.9bCA$1.1b-CA$832,964,728.00n/a-3.5x2.7x
Sat, 03 Feb 2024CA$3.2bCA$1.1b-CA$905,307,728.00n/a-3.5x2.9x
Mon, 01 Jan 2024CA$3.5bCA$1.1b-CA$387,958,728.00n/a-9x3.3x
Wed, 29 Nov 2023CA$3.0bCA$1.1b-CA$387,958,728.00n/a-7.8x2.8x
Fri, 27 Oct 2023CA$2.9bCA$1.1b-CA$302,896,395.00n/a-9.4x2.7x
Sun, 24 Sep 2023CA$3.5bCA$1.1b-CA$232,577,395.00n/a-15.2x3.2x
Tue, 22 Aug 2023CA$3.8bCA$1.1b-CA$232,544,067.00n/a-16.6x3.5x
Thu, 20 Jul 2023CA$4.2bCA$1.1b-CA$1,035,067.0036.4x-4087.8x3.8x
Sat, 17 Jun 2023CA$4.4bCA$1.1b-CA$1,035,067.0048.7x-4272.3x3.9x
Mon, 15 May 2023CA$4.4bCA$1.1b-CA$1,019,529.0049.1x-4354.1x3.9x
Wed, 12 Apr 2023CA$4.6bCA$1.1bCA$195.6m14.2x23.4x4x
Fri, 10 Mar 2023CA$5.6bCA$1.1bCA$262.3m10.4x21.4x4.9x
Sun, 05 Feb 2023CA$6.1bCA$1.2bCA$472.3m4.5x13x5.2x
Tue, 03 Jan 2023CA$5.1bCA$1.3bCA$793.7m4.1x6.4x4.1x
Thu, 01 Dec 2022CA$5.3bCA$1.3bCA$793.7m4.4x6.6x4.2x
Sat, 29 Oct 2022CA$5.4bCA$1.3bCA$872.7m6.1x6.2x4.3x
Mon, 26 Sep 2022CA$5.5bCA$1.2bCA$935.3m5.6x5.9x4.4x
Wed, 24 Aug 2022CA$6.2bCA$1.2bCA$935.3m6.1x6.7x5x
Fri, 22 Jul 2022CA$6.5bCA$1.2bCA$891.4m7x7.3x5.2x
Price to Earnings Ratio

7.3x


Total Market Cap: CA$6.5bTotal Earnings: CA$891.4mTotal Revenue: CA$1.2bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Office REITs Industry Price to Earnings3Y Average -299.1x202320242025
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 3.4x.
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 8.9% per year, which is driving profits down.

Industry Comparison

How does Canadian Office REITs compare with similar industries?

CA Market0.99%
Real Estate1.45%
REITS0.96%
Office REITs3.63%
Industrial REITs1.89%
Residential REITs1.88%
Diversified REITs0.96%
Retail REITs0.55%
Healthcare REITs0.20%
Specialized REITs0.087%
Hotel and Resort REITs-2.51%
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$18.314.0%
+CA$99.2m
7.2%PB0.5x
RPR.UN Ravelin Properties REITCA$0.4321.1%
+CA$6.0m
43.3%PB0.6x
D.UN Dream Office Real Estate Investment TrustCA$16.631.7%
+CA$4.6m
-10.0%PB0.3x
TNT.UN True North Commercial Real Estate Investment TrustCA$9.401.2%
+CA$1.5m
5.3%PB0.3x
INO.UN Inovalis Real Estate Investment TrustCA$0.922.2%
+CA$664.1k
-10.7%PB0.2x

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