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Canadian (TSX) REITS Industry Analysis
UpdatedJan 28, 2026
DataAggregated Company Financials
Companies5
- 7D0.9%
- 3M-2.0%
- 1Y14.7%
- YTD3.7%
Over the last 7 days, the REITS industry has remained flat, although notably Morguard Real Estate Investment Trust gained 9.0%. The past year has been better, since the industry has gained 16% in that time. Earnings are forecast to grow by 103% 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 |
|---|---|---|---|---|---|---|
| Wed, 28 Jan 2026 | CA$4.2b | CA$1.3b | -CA$379,898,722.00 | 9.1x | -11.1x | 3.1x |
| Fri, 26 Dec 2025 | CA$4.0b | CA$1.3b | -CA$379,898,722.00 | 8.6x | -10.5x | 3x |
| Sun, 23 Nov 2025 | CA$3.7b | CA$1.3b | -CA$379,898,722.00 | 8.3x | -9.8x | 2.8x |
| Tue, 21 Oct 2025 | CA$4.9b | CA$1.4b | -CA$110,680,261.00 | 8.9x | -44.5x | 3.6x |
| Thu, 18 Sep 2025 | CA$5.1b | CA$1.4b | -CA$110,680,261.00 | 8.7x | -46.3x | 3.7x |
| Sat, 16 Aug 2025 | CA$5.1b | CA$1.4b | -CA$118,247,644.00 | 8.5x | -43x | 3.7x |
| Mon, 14 Jul 2025 | CA$5.2b | CA$1.6b | -CA$195,408,672.00 | 7.8x | -26.5x | 3.3x |
| Wed, 11 Jun 2025 | CA$4.8b | CA$1.6b | -CA$195,408,672.00 | 7.8x | -24.4x | 3.1x |
| Fri, 09 May 2025 | CA$4.5b | CA$1.6b | -CA$134,548,792.00 | 7.7x | -33.3x | 2.9x |
| Sun, 06 Apr 2025 | CA$4.6b | CA$1.6b | -CA$190,710,792.00 | 7.3x | -23.9x | 2.8x |
| Tue, 04 Mar 2025 | CA$4.8b | CA$1.7b | -CA$239,924,479.00 | 7.7x | -19.8x | 2.8x |
| Thu, 30 Jan 2025 | CA$4.5b | CA$1.7b | -CA$391,634,479.00 | 11x | -11.6x | 2.7x |
| Sat, 28 Dec 2024 | CA$4.5b | CA$1.7b | -CA$391,634,479.00 | 10.9x | -11.5x | 2.7x |
| Mon, 25 Nov 2024 | CA$5.0b | CA$1.8b | -CA$391,286,479.00 | 12.9x | -12.8x | 2.8x |
| Wed, 23 Oct 2024 | CA$5.4b | CA$1.9b | -CA$474,273,724.00 | 9.4x | -11.5x | 2.9x |
| Fri, 20 Sep 2024 | CA$5.5b | CA$1.9b | -CA$474,273,724.00 | 9.3x | -11.6x | 2.9x |
| Sun, 18 Aug 2024 | CA$4.7b | CA$1.6b | -CA$461,867,459.00 | 8.6x | -10.3x | 2.9x |
| Tue, 16 Jul 2024 | CA$4.6b | CA$1.8b | -CA$341,683,846.00 | 8x | -13.5x | 2.6x |
| Thu, 13 Jun 2024 | CA$4.5b | CA$1.8b | -CA$341,683,846.00 | 8x | -13.2x | 2.5x |
| Sat, 11 May 2024 | CA$4.6b | CA$1.8b | -CA$277,230,117.00 | 8x | -16.5x | 2.5x |
| Mon, 08 Apr 2024 | CA$4.6b | CA$1.8b | -CA$236,724,569.00 | 7.7x | -19.4x | 2.5x |
| Wed, 06 Mar 2024 | CA$4.4b | CA$1.8b | -CA$241,365,636.00 | 9.3x | -18.4x | 2.4x |
| Fri, 02 Feb 2024 | CA$9.3b | CA$2.2b | CA$367.5m | 7.2x | 25.3x | 4.3x |
| Sun, 31 Dec 2023 | CA$9.2b | CA$2.2b | CA$367.5m | 6.9x | 25.1x | 4.2x |
| Tue, 28 Nov 2023 | CA$8.9b | CA$2.2b | CA$367.5m | 6.8x | 24.3x | 4.1x |
| Thu, 26 Oct 2023 | CA$8.8b | CA$2.0b | CA$250.7m | 6.3x | 35.1x | 4.3x |
| Sat, 23 Sep 2023 | CA$9.3b | CA$2.0b | CA$250.7m | 7.1x | 37.2x | 4.6x |
| Mon, 21 Aug 2023 | CA$9.5b | CA$2.1b | CA$251.7m | 7.5x | 37.8x | 4.5x |
| Wed, 19 Jul 2023 | CA$9.6b | CA$2.2b | CA$515.8m | 5.4x | 18.5x | 4.4x |
| Fri, 16 Jun 2023 | CA$9.6b | CA$2.2b | CA$515.8m | 5.4x | 18.6x | 4.4x |
| Sun, 14 May 2023 | CA$9.7b | CA$2.2b | CA$511.1m | 5.4x | 19x | 4.4x |
| Tue, 11 Apr 2023 | CA$10.3b | CA$2.2b | CA$1.7b | 3.9x | 6x | 4.7x |
| Thu, 09 Mar 2023 | CA$84.9b | CA$14.2b | CA$7.6b | 6.4x | 11.2x | 6x |
| Sat, 04 Feb 2023 | CA$87.4b | CA$14.3b | CA$10.8b | 5.4x | 8.1x | 6.1x |
Price to Earnings Ratio
8.1x
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 3.5x is higher than the industry's current PS ratio of 3.1x.
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 55% per year, which is driving profits down.
Industry Trends
Which industries have driven the changes within the Canadian Real Estate industry?
| CA Market | 1.72% | |
| Real Estate | -1.48% | |
| REITS | 0.95% | |
| Office REITs | 2.93% | |
| Healthcare REITs | 1.43% | |
| Diversified REITs | 0.95% | |
| Specialized REITs | 0.89% | |
| Industrial REITs | -0.50% | |
| Residential REITs | -0.86% | |
| Retail REITs | -1.09% | |
| Hotel and Resort REITs | -4.89% | |
Industry PE
- Investors are most optimistic about the Healthcare REITs industry which is trading above its 3-year average PE ratio.
- Analysts are expecting annual earnings growth of 37.7% and investors are willing to pay a premium for that growth.
Forecasted Growth
- Analysts are most optimistic on the Office REITs industry, expecting annual earnings growth of 106% 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 13% 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$6.68 | 3.7% +CA$15.9m | 18.9% | PB0.5x | |
| HR.UN H&R Real Estate Investment Trust | CA$10.67 | 0.6% +CA$15.9m | 13.3% | PB0.6x | |
| BTB.UN BTB Real Estate Investment Trust | CA$4.28 | 1.9% +CA$7.1m | 26.3% | PB0.8x |