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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?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Tue, 15 Jul 2025 | CA$3.0b | CA$940.5m | -CA$660,526,611.00 | 28.6x | -4.6x | 3.2x |
| Thu, 12 Jun 2025 | CA$2.8b | CA$940.5m | -CA$660,526,611.00 | 24.5x | -4.3x | 3x |
| Sat, 10 May 2025 | CA$2.5b | CA$942.8m | -CA$671,455,770.00 | 30.8x | -3.7x | 2.7x |
| Mon, 07 Apr 2025 | CA$2.6b | CA$954.1m | -CA$537,515,454.00 | 30.8x | -4.9x | 2.8x |
| Wed, 05 Mar 2025 | CA$2.9b | CA$1.1b | -CA$947,250,454.00 | 30.8x | -3.1x | 2.5x |
| Fri, 31 Jan 2025 | CA$3.0b | CA$1.1b | -CA$1,212,261,454.00 | 30.8x | -2.4x | 2.6x |
| Sun, 29 Dec 2024 | CA$3.0b | CA$1.1b | -CA$1,212,261,454.00 | 35.9x | -2.5x | 2.7x |
| Tue, 26 Nov 2024 | CA$3.0b | CA$1.1b | -CA$1,212,252,412.00 | 24.4x | -2.5x | 2.7x |
| Thu, 24 Oct 2024 | CA$3.5b | CA$1.1b | -CA$935,578,412.00 | 24.4x | -3.8x | 3.1x |
| Sat, 21 Sep 2024 | CA$3.4b | CA$1.1b | -CA$935,578,412.00 | 28.5x | -3.6x | 3x |
| Mon, 19 Aug 2024 | CA$2.9b | CA$1.1b | -CA$935,584,696.00 | 23.8x | -3.1x | 2.6x |
| Wed, 17 Jul 2024 | CA$2.9b | CA$1.1b | -CA$820,658,696.00 | 23.8x | -3.6x | 2.7x |
| Fri, 14 Jun 2024 | CA$2.8b | CA$1.1b | -CA$820,658,696.00 | 33.3x | -3.4x | 2.6x |
| Sun, 12 May 2024 | CA$2.9b | CA$1.1b | -CA$820,649,958.00 | 26.9x | -3.6x | 2.7x |
| Tue, 09 Apr 2024 | CA$3.1b | CA$1.1b | -CA$811,528,728.00 | n/a | -3.8x | 2.8x |
| Thu, 07 Mar 2024 | CA$2.9b | CA$1.1b | -CA$832,964,728.00 | n/a | -3.5x | 2.7x |
| Sat, 03 Feb 2024 | CA$3.2b | CA$1.1b | -CA$905,307,728.00 | n/a | -3.5x | 2.9x |
| Mon, 01 Jan 2024 | CA$3.5b | CA$1.1b | -CA$387,958,728.00 | n/a | -9x | 3.3x |
| Wed, 29 Nov 2023 | CA$3.0b | CA$1.1b | -CA$387,958,728.00 | n/a | -7.8x | 2.8x |
| Fri, 27 Oct 2023 | CA$2.9b | CA$1.1b | -CA$302,896,395.00 | n/a | -9.4x | 2.7x |
| Sun, 24 Sep 2023 | CA$3.5b | CA$1.1b | -CA$232,577,395.00 | n/a | -15.2x | 3.2x |
| Tue, 22 Aug 2023 | CA$3.8b | CA$1.1b | -CA$232,544,067.00 | n/a | -16.6x | 3.5x |
| Thu, 20 Jul 2023 | CA$4.2b | CA$1.1b | -CA$1,035,067.00 | 36.4x | -4087.8x | 3.8x |
| Sat, 17 Jun 2023 | CA$4.4b | CA$1.1b | -CA$1,035,067.00 | 48.7x | -4272.3x | 3.9x |
| Mon, 15 May 2023 | CA$4.4b | CA$1.1b | -CA$1,019,529.00 | 49.1x | -4354.1x | 3.9x |
| Wed, 12 Apr 2023 | CA$4.6b | CA$1.1b | CA$195.6m | 14.2x | 23.4x | 4x |
| Fri, 10 Mar 2023 | CA$5.6b | CA$1.1b | CA$262.3m | 10.4x | 21.4x | 4.9x |
| Sun, 05 Feb 2023 | CA$6.1b | CA$1.2b | CA$472.3m | 4.5x | 13x | 5.2x |
| Tue, 03 Jan 2023 | CA$5.1b | CA$1.3b | CA$793.7m | 4.1x | 6.4x | 4.1x |
| Thu, 01 Dec 2022 | CA$5.3b | CA$1.3b | CA$793.7m | 4.4x | 6.6x | 4.2x |
| Sat, 29 Oct 2022 | CA$5.4b | CA$1.3b | CA$872.7m | 6.1x | 6.2x | 4.3x |
| Mon, 26 Sep 2022 | CA$5.5b | CA$1.2b | CA$935.3m | 5.6x | 5.9x | 4.4x |
| Wed, 24 Aug 2022 | CA$6.2b | CA$1.2b | CA$935.3m | 6.1x | 6.7x | 5x |
| Fri, 22 Jul 2022 | CA$6.5b | CA$1.2b | CA$891.4m | 7x | 7.3x | 5.2x |
Price to Earnings Ratio
7.3x
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 Market | 0.99% | |
| Real Estate | 1.45% | |
| REITS | 0.96% | |
| Office REITs | 3.63% | |
| Industrial REITs | 1.89% | |
| Residential REITs | 1.88% | |
| Diversified REITs | 0.96% | |
| Retail REITs | 0.55% | |
| Healthcare REITs | 0.20% | |
| Specialized REITs | 0.087% | |
| 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?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| AP.UN Allied Properties Real Estate Investment Trust | CA$18.31 | 4.0% +CA$99.2m | 7.2% | PB0.5x | |
| RPR.UN Ravelin Properties REIT | CA$0.43 | 21.1% +CA$6.0m | 43.3% | PB0.6x | |
| D.UN Dream Office Real Estate Investment Trust | CA$16.63 | 1.7% +CA$4.6m | -10.0% | PB0.3x | |
| TNT.UN True North Commercial Real Estate Investment Trust | CA$9.40 | 1.2% +CA$1.5m | 5.3% | PB0.3x | |
| INO.UN Inovalis Real Estate Investment Trust | CA$0.92 | 2.2% +CA$664.1k | -10.7% | PB0.2x |