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Canadian (TSX) REITS Industry Analysis

UpdatedMay 02, 2025
DataAggregated Company Financials
Companies7
  • 7D1.6%
  • 3M3.1%
  • 1Y9.8%
  • YTD3.8%

The REITS industry is up 1.6% in the last week, with H&R Real Estate Investment Trust up 2.9%. This means that the industry has gained 9.8% over the past year. Looking forward, earnings are forecast to grow by 93% annually.

Industry Valuation and Performance

Has the Canadian REITS Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 02 May 2025CA$4.5bCA$1.6b-CA$160,113,792.007.7x-27.9x2.8x
Sun, 30 Mar 2025CA$4.7bCA$1.6b-CA$189,655,274.007.8x-24.8x2.9x
Tue, 25 Feb 2025CA$4.8bCA$1.7b-CA$257,037,479.0011.3x-18.5x2.8x
Thu, 23 Jan 2025CA$4.4bCA$1.7b-CA$391,634,479.0011x-11.3x2.7x
Sat, 21 Dec 2024CA$4.4bCA$1.7b-CA$391,634,479.0011.3x-11.3x2.6x
Mon, 18 Nov 2024CA$5.1bCA$1.8b-CA$398,329,474.0010.4x-12.8x2.9x
Wed, 16 Oct 2024CA$5.5bCA$1.9b-CA$474,273,724.009.2x-11.5x2.9x
Fri, 13 Sep 2024CA$5.3bCA$1.9b-CA$474,273,724.009.1x-11.3x2.8x
Sun, 11 Aug 2024CA$4.7bCA$1.8b-CA$242,052,459.008.5x-19.5x2.6x
Tue, 09 Jul 2024CA$4.5bCA$1.8b-CA$341,683,846.007.9x-13.1x2.5x
Thu, 06 Jun 2024CA$4.6bCA$1.8b-CA$341,683,846.008.2x-13.4x2.5x
Sat, 04 May 2024CA$4.5bCA$1.8b-CA$259,777,117.007.6x-17.4x2.5x
Mon, 01 Apr 2024CA$4.6bCA$1.8b-CA$236,724,569.007.5x-19.5x2.5x
Wed, 28 Feb 2024CA$4.5bCA$1.9b-CA$282,235,636.009.6x-15.8x2.4x
Fri, 26 Jan 2024CA$9.4bCA$2.2bCA$367.5m7.3x25.5x4.3x
Sun, 24 Dec 2023CA$9.2bCA$2.2bCA$367.5m6.8x25.1x4.2x
Tue, 21 Nov 2023CA$9.0bCA$2.2bCA$370.3m6.7x24.2x4.1x
Thu, 19 Oct 2023CA$9.0bCA$2.0bCA$250.7m6.4x35.9x4.4x
Sat, 16 Sep 2023CA$9.4bCA$2.0bCA$250.7m7.2x37.5x4.6x
Mon, 14 Aug 2023CA$9.5bCA$2.1bCA$247.6m6.7x38.5x4.5x
Wed, 12 Jul 2023CA$9.5bCA$2.2bCA$515.8m5.4x18.4x4.4x
Fri, 09 Jun 2023CA$9.6bCA$2.2bCA$515.8m5.4x18.6x4.5x
Sun, 07 May 2023CA$9.9bCA$2.2bCA$1.7b3.7x5.9x4.6x
Tue, 04 Apr 2023CA$10.4bCA$2.2bCA$1.7b4.1x6.1x4.8x
Thu, 02 Mar 2023CA$85.5bCA$14.1bCA$7.9b5.8x10.8x6.1x
Sat, 28 Jan 2023CA$86.9bCA$14.4bCA$11.1b5.4x7.8x6x
Mon, 26 Dec 2022CA$79.6bCA$14.4bCA$11.1b5.1x7.2x5.5x
Wed, 23 Nov 2022CA$81.0bCA$14.3bCA$11.1b5.2x7.3x5.6x
Fri, 21 Oct 2022CA$73.1bCA$14.3bCA$13.2b4.3x5.5x5.1x
Sun, 18 Sep 2022CA$80.2bCA$14.3bCA$13.2b4.5x6.1x5.6x
Tue, 16 Aug 2022CA$86.4bCA$14.2bCA$13.2b4.9x6.6x6.1x
Thu, 14 Jul 2022CA$80.4bCA$13.8bCA$14.6b4.8x5.5x5.8x
Sat, 11 Jun 2022CA$85.7bCA$13.7bCA$14.6b5.1x5.9x6.2x
Mon, 09 May 2022CA$88.7bCA$13.7bCA$13.0b6.4x6.8x6.5x
Price to Earnings Ratio

6.8x


Total Market Cap: CA$88.7bTotal Earnings: CA$13.0bTotal Revenue: CA$13.7bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian REITS Industry Price to Earnings3Y Average 2.7x202320242025
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 4.1x is higher than the industry's current PS ratio of 2.8x.
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 51% per year, which is driving profits down.

Industry Trends

Which industries have driven the changes within the Canadian Real Estate industry?

CA Market0.39%
Real Estate1.70%
REITS1.57%
Residential REITs4.19%
Specialized REITs2.16%
Diversified REITs1.57%
Retail REITs0.85%
Healthcare REITs0.41%
Industrial REITs0.044%
Hotel and Resort REITs-1.76%
Office REITs-2.12%
Industry PE
  • Investors are most optimistic about the Retail REITs industry, which is trading close to its 3-year average PE ratio of 18.0x.
    • Analysts are expecting annual earnings growth of 12.7%, which is lower than the prior year's growth of 42.1% per year.
Forecasted Growth
  • Analysts are most optimistic on the Office REITs industry, expecting annual earnings growth of 122% over the next 5 years.
  • In contrast, the Industrial REITs industry is expected to see its earnings grow by 2.8% per year over the next few years.

Top Stock Gainers and Losers

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

CompanyLast Price7D1YValuation
HR.UN H&R Real Estate Investment TrustCA$9.932.9%
+CA$73.5m		10.0%PB0.5x
AX.UN Artis Real Estate Investment TrustCA$7.271.0%
+CA$6.9m		12.7%PB0.5x
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Latest News

NET.UN

CA$5.19

Canadian Net Real Estate Investment Trust

7D

-1.0%

1Y

5.3%

MRT.UN

CA$5.47

Morguard Real Estate Investment Trust

7D

-2.5%

1Y

0.4%

Here's Why We Think Morguard Real Estate Investment Trust's (TSE:MRT.UN) CEO Compensation Looks Fair

May 01
Here's Why We Think Morguard Real Estate Investment Trust's (TSE:MRT.UN) CEO Compensation Looks Fair

AX.UN

CA$7.27

Artis Real Estate Investment Trust

7D

1.0%

1Y

12.7%

HR.UN

CA$9.93

H&R Real Estate Investment Trust

7D

2.9%

1Y

10.0%

BTB.UN

CA$3.37

BTB Real Estate Investment Trust

7D

-0.3%

1Y

7.0%

FCD.UN

CA$6.00

Firm Capital Property Trust

7D

-1.8%

1Y

20.2%