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Canadian (TSX) REITS Industry Analysis
UpdatedMay 13, 2025
DataAggregated Company Financials
Companies7
- 7D1.6%
- 3M2.0%
- 1Y9.6%
- YTD4.9%
The REITS industry is up 1.6% in the last week, with H&R Real Estate Investment Trust up 1.7%. In the last 12 months, the industry was up 9.6%. Earnings are forecast to grow by 98% annually.
Industry Valuation and Performance
Has the Canadian REITS Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Tue, 13 May 2025 | CA$4.5b | CA$1.5b | -CA$121,473,149.00 | 7.8x | -37.1x | 2.9x |
| Thu, 10 Apr 2025 | CA$4.3b | CA$1.6b | -CA$190,710,792.00 | 7.4x | -22.8x | 2.7x |
| Sat, 08 Mar 2025 | CA$4.8b | CA$1.7b | -CA$174,109,479.00 | 7.8x | -27.4x | 2.8x |
| Mon, 03 Feb 2025 | CA$4.5b | CA$1.7b | -CA$391,634,479.00 | 11x | -11.5x | 2.7x |
| Wed, 01 Jan 2025 | CA$4.5b | CA$1.7b | -CA$391,634,479.00 | 10.6x | -11.4x | 2.7x |
| Fri, 29 Nov 2024 | CA$5.0b | CA$1.8b | -CA$391,286,479.00 | 12.9x | -12.9x | 2.8x |
| Sun, 27 Oct 2024 | CA$5.4b | CA$1.9b | -CA$474,273,724.00 | 9.5x | -11.4x | 2.9x |
| Tue, 24 Sep 2024 | CA$5.5b | CA$1.9b | -CA$474,273,724.00 | 9.3x | -11.7x | 2.9x |
| Thu, 22 Aug 2024 | CA$4.8b | CA$1.6b | -CA$476,794,956.00 | 9x | -10x | 2.9x |
| Sat, 20 Jul 2024 | CA$4.7b | CA$1.8b | -CA$341,683,846.00 | 8.1x | -13.7x | 2.6x |
| Mon, 17 Jun 2024 | CA$4.5b | CA$1.8b | -CA$341,683,846.00 | 7.9x | -13.2x | 2.5x |
| Wed, 15 May 2024 | CA$4.6b | CA$1.8b | -CA$277,230,117.00 | 8.1x | -16.5x | 2.5x |
| Fri, 12 Apr 2024 | CA$4.6b | CA$1.8b | -CA$243,799,117.00 | 7.6x | -18.9x | 2.5x |
| Sun, 10 Mar 2024 | CA$4.5b | CA$1.8b | -CA$241,919,636.00 | 9.6x | -18.5x | 2.5x |
| Tue, 06 Feb 2024 | CA$4.7b | CA$1.9b | -CA$454,597,636.00 | 8.4x | -10.4x | 2.5x |
| Thu, 04 Jan 2024 | CA$9.2b | CA$2.2b | CA$367.5m | 6.9x | 25.2x | 4.2x |
| Sat, 02 Dec 2023 | CA$8.8b | CA$2.2b | CA$367.5m | 6.8x | 24.1x | 4.1x |
| Mon, 30 Oct 2023 | CA$8.8b | CA$2.0b | CA$269.3m | 6.2x | 32.6x | 4.3x |
| Wed, 27 Sep 2023 | CA$9.1b | CA$2.0b | CA$250.7m | 6.7x | 36.5x | 4.5x |
| Fri, 25 Aug 2023 | CA$9.5b | CA$2.0b | CA$250.7m | 7.3x | 37.9x | 4.7x |
| Sun, 23 Jul 2023 | CA$9.6b | CA$2.2b | CA$515.8m | 5.4x | 18.6x | 4.5x |
| Tue, 20 Jun 2023 | CA$9.6b | CA$2.2b | CA$515.8m | 5.4x | 18.5x | 4.4x |
| Thu, 18 May 2023 | CA$9.6b | CA$2.2b | CA$511.1m | 5.4x | 18.8x | 4.4x |
| Sat, 15 Apr 2023 | CA$10.2b | CA$2.2b | CA$1.7b | 3.9x | 6x | 4.7x |
| Mon, 13 Mar 2023 | CA$82.5b | CA$14.2b | CA$6.9b | 6.2x | 11.9x | 5.8x |
| Wed, 08 Feb 2023 | CA$85.8b | CA$14.3b | CA$10.8b | 5.3x | 8x | 6x |
| Fri, 06 Jan 2023 | CA$80.5b | CA$14.4b | CA$11.1b | 5.2x | 7.2x | 5.6x |
| Sun, 04 Dec 2022 | CA$80.8b | CA$14.4b | CA$11.1b | 5.3x | 7.3x | 5.6x |
| Tue, 01 Nov 2022 | CA$75.8b | CA$14.3b | CA$13.1b | 4.4x | 5.8x | 5.3x |
| Thu, 29 Sep 2022 | CA$73.5b | CA$14.3b | CA$13.2b | 4.4x | 5.6x | 5.1x |
| Sat, 27 Aug 2022 | CA$82.6b | CA$14.2b | CA$13.2b | 4.7x | 6.3x | 5.8x |
| Mon, 25 Jul 2022 | CA$83.0b | CA$13.8b | CA$14.5b | 5.1x | 5.7x | 6x |
| Wed, 22 Jun 2022 | CA$81.2b | CA$13.7b | CA$14.6b | 4.9x | 5.6x | 5.9x |
| Fri, 20 May 2022 | CA$88.9b | CA$13.7b | CA$14.6b | 6.4x | 6.1x | 6.5x |
Price to Earnings Ratio
6.1x
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 2.9x.
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 52% per year, which is driving profits down.
Industry Trends
Which industries have driven the changes within the Canadian Real Estate industry?
| CA Market | 2.28% | |
| Real Estate | 1.99% | |
| REITS | 1.59% | |
| Office REITs | 3.87% | |
| Industrial REITs | 3.17% | |
| Specialized REITs | 2.94% | |
| Retail REITs | 1.98% | |
| Healthcare REITs | 1.87% | |
| Diversified REITs | 1.59% | |
| Residential REITs | -1.23% | |
| Hotel and Resort REITs | -6.86% | |
Industry PE
- Investors are most optimistic about the Residential REITs industry which is trading above its 3-year average PE ratio.
- Analysts are expecting annual earnings growth of 47.3%, which is higher than its past year's earnings decline of 33.8% per year.
Forecasted Growth
- Analysts are most optimistic on the Healthcare REITs industry, expecting annual earnings growth of 118% over the next 5 years.
- In contrast, the Industrial REITs industry is expected to see its earnings grow by 9.3% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| HR.UN H&R Real Estate Investment Trust | CA$9.97 | 1.7% +CA$44.6m | 8.6% | PB0.5x | |
| MRT.UN Morguard Real Estate Investment Trust | CA$5.69 | 3.1% +CA$12.0m | 6.4% | PB0.4x | |
| BTB.UN BTB Real Estate Investment Trust | CA$3.46 | 3.0% +CA$8.8m | 7.1% | PB0.6x | |
| AX.UN Artis Real Estate Investment Trust | CA$7.30 | 0.3% +CA$2.0m | 12.3% | PB0.5x | |
| NET.UN Canadian Net Real Estate Investment Trust | CA$5.44 | 1.7% +CA$1.9m | 8.8% | PB0.9x |