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Canadian (TSX) REITS Industry Analysis
UpdatedMar 18, 2026
DataAggregated Company Financials
Companies5
- 7D0.9%
- 3M-0.07%
- 1Y4.9%
- YTD0.5%
In the last week, REITS has been flat. As for the the longer term, the industry is up 4.9% over the past 12 months. As for the next few years, earnings are expected to grow by 116% per annum.
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 |
|---|---|---|---|---|---|---|
| Thu, 19 Mar 2026 | CA$4.0b | CA$1.3b | -CA$746,559,458.00 | 9.4x | -5.3x | 3x |
| Sat, 14 Feb 2026 | CA$4.1b | CA$1.3b | -CA$943,225,722.00 | 9.2x | -4.3x | 3.2x |
| Mon, 12 Jan 2026 | CA$4.2b | CA$1.3b | -CA$379,898,722.00 | 8.9x | -11.1x | 3.1x |
| Wed, 10 Dec 2025 | CA$3.8b | CA$1.3b | -CA$379,898,722.00 | 8.6x | -10.1x | 2.9x |
| Fri, 07 Nov 2025 | CA$4.2b | CA$1.2b | -CA$51,627,261.00 | 8.1x | -81.8x | 3.6x |
| Sun, 05 Oct 2025 | CA$4.9b | CA$1.4b | -CA$110,680,261.00 | 9.1x | -44.4x | 3.6x |
| Tue, 02 Sep 2025 | CA$5.2b | CA$1.4b | -CA$110,680,261.00 | 8.6x | -46.5x | 3.7x |
| Thu, 31 Jul 2025 | CA$5.1b | CA$1.6b | -CA$195,408,672.00 | 7.9x | -26.1x | 3.3x |
| Sat, 28 Jun 2025 | CA$4.8b | CA$1.6b | -CA$195,408,672.00 | 7.8x | -24.5x | 3.1x |
| Mon, 26 May 2025 | CA$4.5b | CA$1.6b | -CA$195,408,672.00 | 7.8x | -22.9x | 2.9x |
| Wed, 23 Apr 2025 | CA$4.5b | CA$1.6b | -CA$190,710,792.00 | 7.6x | -23.6x | 2.7x |
| Fri, 21 Mar 2025 | CA$4.8b | CA$1.6b | -CA$189,655,274.00 | 7.7x | -25.1x | 2.9x |
| Sun, 16 Feb 2025 | CA$4.7b | CA$1.7b | -CA$257,037,479.00 | 11.2x | -18.4x | 2.8x |
| Tue, 14 Jan 2025 | CA$4.5b | CA$1.7b | -CA$391,634,479.00 | 10.9x | -11.4x | 2.7x |
| Thu, 12 Dec 2024 | CA$4.6b | CA$1.7b | -CA$391,634,479.00 | 11.7x | -11.6x | 2.7x |
| Sat, 09 Nov 2024 | CA$5.4b | CA$1.9b | -CA$345,069,724.00 | 12.1x | -15.5x | 2.8x |
| Mon, 07 Oct 2024 | CA$5.5b | CA$1.9b | -CA$474,273,724.00 | 9.1x | -11.5x | 2.9x |
| Wed, 04 Sep 2024 | CA$5.1b | CA$1.9b | -CA$474,273,724.00 | 8.6x | -10.7x | 2.7x |
| Fri, 02 Aug 2024 | CA$4.7b | CA$1.8b | -CA$338,367,846.00 | 8x | -14x | 2.6x |
| Sun, 30 Jun 2024 | CA$4.5b | CA$1.8b | -CA$341,683,846.00 | 7.8x | -13x | 2.5x |
| Tue, 28 May 2024 | CA$4.6b | CA$1.8b | -CA$341,683,846.00 | 8.1x | -13.5x | 2.6x |
| Thu, 25 Apr 2024 | CA$4.6b | CA$1.8b | -CA$243,799,117.00 | 7.5x | -18.8x | 2.5x |
| Sat, 23 Mar 2024 | CA$4.5b | CA$1.8b | -CA$230,119,569.00 | 7.5x | -19.6x | 2.5x |
| Mon, 19 Feb 2024 | CA$4.7b | CA$1.9b | -CA$282,200,636.00 | 10x | -16.6x | 2.5x |
| Wed, 17 Jan 2024 | CA$9.4b | CA$2.2b | CA$367.5m | 7.5x | 25.6x | 4.3x |
| Fri, 15 Dec 2023 | CA$9.2b | CA$2.2b | CA$367.5m | 7x | 25.1x | 4.2x |
| Sun, 12 Nov 2023 | CA$8.9b | CA$2.2b | CA$211.3m | 6.5x | 41.9x | 4.1x |
| Tue, 10 Oct 2023 | CA$8.9b | CA$2.0b | CA$250.7m | 6.3x | 35.6x | 4.4x |
| Thu, 07 Sep 2023 | CA$9.5b | CA$2.0b | CA$250.7m | 7x | 37.8x | 4.6x |
| Sat, 05 Aug 2023 | CA$9.5b | CA$2.3b | CA$443.3m | 5.8x | 21.5x | 4.1x |
| Mon, 03 Jul 2023 | CA$9.5b | CA$2.2b | CA$515.8m | 5.4x | 18.5x | 4.4x |
| Wed, 31 May 2023 | CA$9.5b | CA$2.2b | CA$515.8m | 5.4x | 18.4x | 4.4x |
| Fri, 28 Apr 2023 | CA$10.1b | CA$2.2b | CA$1.7b | 3.8x | 5.9x | 4.6x |
| Sun, 26 Mar 2023 | CA$10.3b | CA$2.2b | CA$1.7b | 4.1x | 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 3.4x is higher than the industry's current PS ratio of 3.0x.
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 | -1.22% | |
| Real Estate | -0.079% | |
| REITS | 0.87% | |
| Office REITs | 4.44% | |
| Hotel and Resort REITs | 2.52% | |
| Retail REITs | 1.79% | |
| Industrial REITs | 1.50% | |
| Diversified REITs | 0.87% | |
| Specialized REITs | 0.43% | |
| Residential REITs | -1.47% | |
| Healthcare REITs | -2.83% | |
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 28.4%, which is higher than its past year's earnings decline of 32.7% 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 | |
|---|---|---|---|---|---|
| HR.UN H&R Real Estate Investment Trust | CA$10.24 | 0.9% +CA$23.8m | 1.1% | PB0.7x | |
| MRT.UN Morguard Real Estate Investment Trust | CA$6.68 | 2.3% +CA$10.0m | 20.4% | PB0.5x | |
| NET.UN Canadian Net Real Estate Investment Trust | CA$6.30 | 2.8% +CA$3.5m | 13.9% | PB1x | |
| BTB.UN BTB Real Estate Investment Trust | CA$3.84 | 0.8% +CA$2.6m | 13.3% | PB0.7x |