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Canadian (TSX) REITS Industry Analysis
UpdatedMar 30, 2026
DataAggregated Company Financials
Companies5
- 7D-0.1%
- 3M-3.3%
- 1Y2.0%
- YTD-3.7%
The REITS is pretty flat in the last 7 days, but Morguard Real Estate Investment Trust has stood out, gaining 4.7%. In line with that, the industry has also been flat over the past 12 months. Looking forward, earnings are forecast to grow by 116% 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, 31 Mar 2026 | CA$3.9b | CA$1.3b | -CA$743,365,441.00 | 8.9x | -5.2x | 2.9x |
| Thu, 26 Feb 2026 | CA$4.1b | CA$1.3b | -CA$733,557,722.00 | 9.2x | -5.6x | 3x |
| Sat, 24 Jan 2026 | CA$4.2b | CA$1.3b | -CA$379,898,722.00 | 9.2x | -11x | 3.1x |
| Mon, 22 Dec 2025 | CA$4.1b | CA$1.3b | -CA$379,898,722.00 | 8.5x | -10.7x | 3x |
| Wed, 19 Nov 2025 | CA$3.8b | CA$1.3b | -CA$369,786,720.00 | 8.3x | -10.4x | 2.8x |
| Fri, 17 Oct 2025 | CA$4.8b | CA$1.4b | -CA$110,680,261.00 | 9x | -43.8x | 3.5x |
| Sun, 14 Sep 2025 | CA$5.2b | CA$1.4b | -CA$110,680,261.00 | 8.6x | -46.7x | 3.7x |
| Tue, 12 Aug 2025 | CA$5.0b | CA$1.5b | -CA$218,183,644.00 | 8.3x | -22.8x | 3.3x |
| Thu, 10 Jul 2025 | CA$5.1b | CA$1.6b | -CA$195,408,672.00 | 7.8x | -26.3x | 3.3x |
| Sat, 07 Jun 2025 | CA$4.7b | CA$1.6b | -CA$195,408,672.00 | 7.7x | -24.1x | 3x |
| Mon, 05 May 2025 | CA$4.5b | CA$1.6b | -CA$135,003,792.00 | 7.7x | -33.4x | 2.9x |
| Wed, 02 Apr 2025 | CA$4.7b | CA$1.6b | -CA$189,655,274.00 | 7.8x | -24.9x | 2.9x |
| Fri, 28 Feb 2025 | CA$4.8b | CA$1.7b | -CA$239,924,479.00 | 7.8x | -20.1x | 2.9x |
| Sun, 26 Jan 2025 | CA$4.2b | CA$1.7b | -CA$391,634,479.00 | 10.9x | -10.8x | 2.5x |
| Tue, 24 Dec 2024 | CA$4.5b | CA$1.7b | -CA$391,634,479.00 | 11.1x | -11.4x | 2.7x |
| Thu, 21 Nov 2024 | CA$5.1b | CA$1.8b | -CA$388,395,613.00 | 11.3x | -13x | 2.9x |
| Sat, 19 Oct 2024 | CA$5.5b | CA$1.9b | -CA$474,273,724.00 | 9.4x | -11.6x | 2.9x |
| Mon, 16 Sep 2024 | CA$5.5b | CA$1.9b | -CA$474,273,724.00 | 9.2x | -11.7x | 2.9x |
| Wed, 14 Aug 2024 | CA$4.7b | CA$1.8b | -CA$242,052,459.00 | 8.7x | -19.5x | 2.6x |
| Fri, 12 Jul 2024 | CA$4.5b | CA$1.8b | -CA$341,683,846.00 | 8x | -13.1x | 2.5x |
| Sun, 09 Jun 2024 | CA$4.6b | CA$1.8b | -CA$341,683,846.00 | 8x | -13.4x | 2.5x |
| Tue, 07 May 2024 | CA$4.6b | CA$1.8b | -CA$259,777,117.00 | 7.7x | -17.6x | 2.5x |
| Thu, 04 Apr 2024 | CA$4.5b | CA$1.8b | -CA$236,724,569.00 | 7.7x | -19.2x | 2.5x |
| Sat, 02 Mar 2024 | CA$4.4b | CA$1.9b | -CA$282,235,636.00 | 9.5x | -15.5x | 2.3x |
| Mon, 29 Jan 2024 | CA$9.4b | CA$2.2b | CA$367.5m | 7.4x | 25.5x | 4.3x |
| Wed, 27 Dec 2023 | CA$9.2b | CA$2.2b | CA$367.5m | 6.8x | 25.1x | 4.2x |
| Fri, 24 Nov 2023 | CA$8.9b | CA$2.2b | CA$365.6m | 6.8x | 24.4x | 4.1x |
| Sun, 22 Oct 2023 | CA$8.9b | CA$2.0b | CA$250.7m | 6.3x | 35.4x | 4.4x |
| Tue, 19 Sep 2023 | CA$9.5b | CA$2.0b | CA$250.7m | 7.4x | 38x | 4.7x |
| Thu, 17 Aug 2023 | CA$9.5b | CA$2.1b | CA$247.6m | 6.5x | 38.3x | 4.5x |
| Sat, 15 Jul 2023 | CA$9.6b | CA$2.2b | CA$515.8m | 5.4x | 18.5x | 4.4x |
| Mon, 12 Jun 2023 | CA$9.6b | CA$2.2b | CA$515.8m | 5.4x | 18.5x | 4.4x |
| Wed, 10 May 2023 | CA$9.9b | CA$2.2b | CA$1.7b | 3.7x | 5.9x | 4.5x |
| Fri, 07 Apr 2023 | CA$10.3b | CA$2.2b | CA$1.7b | 4x | 6x | 4.7x |
Price to Earnings Ratio
6x
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 3.3x 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 15% 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 | 0.67% | |
| REITS | -0.096% | |
| Industrial REITs | 1.43% | |
| Healthcare REITs | 0.96% | |
| Retail REITs | 0.72% | |
| Residential REITs | 0.41% | |
| Diversified REITs | -0.096% | |
| Specialized REITs | -0.44% | |
| Office REITs | -0.57% | |
| Hotel and Resort REITs | -1.18% | |
Industry PE
- Investors are most optimistic about the Retail REITs industry even though it's trading below its 3-year average PE ratio of 21.0x.
- Analysts are expecting annual earnings growth of 47.4%, which is higher than its past year's earnings growth of 13.0% per year.
Forecasted Growth
- Analysts are most optimistic on the Office REITs industry, expecting annual earnings growth of 137% over the next 5 years.
- This is better than its past earnings growth rate of 48% per year.
- In contrast, the Industrial REITs industry is expected to see its earnings grow by 14% 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 | |
|---|---|---|---|---|---|
| MRT.UN Morguard Real Estate Investment Trust | CA$6.62 | 4.7% +CA$20.0m | 19.9% | PB0.5x | |
| NET.UN Canadian Net Real Estate Investment Trust | CA$6.12 | 0.8% +CA$1.0m | 15.0% | PB0.9x |