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Canadian (TSX) REITS Industry Analysis
UpdatedAug 28, 2025
DataAggregated Company Financials
Companies6
- 7D1.0%
- 3M10.1%
- 1Y12.2%
- YTD19.5%
In the last week, REITS has been flat. As for the the longer term, the industry is up 12% over the past 12 months. As for the next few years, earnings are expected to grow by 99% 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, 28 Aug 2025 | CA$5.1b | CA$1.4b | -CA$110,680,261.00 | 8.6x | -46.4x | 3.7x |
| Sat, 26 Jul 2025 | CA$5.1b | CA$1.6b | -CA$195,408,672.00 | 7.8x | -25.9x | 3.3x |
| Mon, 23 Jun 2025 | CA$4.8b | CA$1.6b | -CA$195,408,672.00 | 7.7x | -24.6x | 3.1x |
| Wed, 21 May 2025 | CA$4.6b | CA$1.6b | -CA$214,005,672.00 | 7.9x | -21.4x | 2.9x |
| Fri, 18 Apr 2025 | CA$4.5b | CA$1.6b | -CA$190,710,792.00 | 7.6x | -23.6x | 2.7x |
| Sun, 16 Mar 2025 | CA$4.7b | CA$1.6b | -CA$187,099,479.00 | 7.7x | -25.3x | 2.9x |
| Tue, 11 Feb 2025 | CA$4.6b | CA$1.7b | -CA$391,634,479.00 | 11.1x | -11.8x | 2.8x |
| Thu, 09 Jan 2025 | CA$4.5b | CA$1.7b | -CA$391,634,479.00 | 11.1x | -11.6x | 2.7x |
| Sat, 07 Dec 2024 | CA$4.7b | CA$1.7b | -CA$391,634,479.00 | 11.3x | -11.9x | 2.8x |
| Mon, 04 Nov 2024 | CA$5.2b | CA$1.9b | -CA$419,037,724.00 | 9.4x | -12.5x | 2.8x |
| Wed, 02 Oct 2024 | CA$5.5b | CA$1.9b | -CA$474,273,724.00 | 9.2x | -11.7x | 2.9x |
| Fri, 30 Aug 2024 | CA$5.0b | CA$1.6b | -CA$474,273,724.00 | 8.8x | -10.6x | 3.1x |
| Sun, 28 Jul 2024 | CA$4.8b | CA$1.8b | -CA$341,683,846.00 | 8.2x | -14x | 2.7x |
| Tue, 25 Jun 2024 | CA$4.4b | CA$1.8b | -CA$341,683,846.00 | 7.9x | -12.8x | 2.4x |
| Thu, 23 May 2024 | CA$4.7b | CA$1.8b | -CA$339,505,921.00 | 7.5x | -13.8x | 2.6x |
| Sat, 20 Apr 2024 | CA$4.5b | CA$1.8b | -CA$243,799,117.00 | 7.5x | -18.5x | 2.5x |
| Mon, 18 Mar 2024 | CA$4.4b | CA$1.8b | -CA$243,773,556.00 | 9.7x | -18x | 2.4x |
| Wed, 14 Feb 2024 | CA$4.7b | CA$1.9b | -CA$454,597,636.00 | 8.3x | -10.2x | 2.4x |
| Fri, 12 Jan 2024 | CA$9.3b | CA$2.2b | CA$367.5m | 7.2x | 25.3x | 4.3x |
| Sun, 10 Dec 2023 | CA$8.8b | CA$2.2b | CA$367.5m | 6.7x | 23.9x | 4x |
| Tue, 07 Nov 2023 | CA$9.1b | CA$2.0b | CA$224.6m | 6.7x | 40.5x | 4.5x |
| Thu, 05 Oct 2023 | CA$9.0b | CA$2.0b | CA$250.7m | 6x | 36x | 4.4x |
| Sat, 02 Sep 2023 | CA$9.5b | CA$2.0b | CA$250.7m | 7.3x | 38x | 4.7x |
| Mon, 31 Jul 2023 | CA$9.5b | CA$2.2b | CA$486.3m | 5.4x | 19.6x | 4.4x |
| Wed, 28 Jun 2023 | CA$9.5b | CA$2.2b | CA$515.8m | 5.4x | 18.4x | 4.4x |
| Fri, 26 May 2023 | CA$9.5b | CA$2.2b | CA$512.3m | 5.4x | 18.6x | 4.4x |
| Sun, 23 Apr 2023 | CA$10.1b | CA$2.2b | CA$1.7b | 3.8x | 5.9x | 4.7x |
| Tue, 21 Mar 2023 | CA$10.4b | CA$2.2b | CA$1.8b | 4.7x | 5.9x | 4.8x |
| Thu, 16 Feb 2023 | CA$86.5b | CA$14.0b | CA$9.5b | 5.8x | 9.1x | 6.2x |
| Sat, 14 Jan 2023 | CA$84.8b | CA$14.4b | CA$11.1b | 5.4x | 7.6x | 5.9x |
| Mon, 12 Dec 2022 | CA$80.3b | CA$14.4b | CA$11.1b | 5.3x | 7.2x | 5.6x |
| Wed, 09 Nov 2022 | CA$78.1b | CA$14.2b | CA$12.1b | 4.4x | 6.4x | 5.5x |
| Fri, 07 Oct 2022 | CA$73.7b | CA$14.3b | CA$13.2b | 4.5x | 5.6x | 5.2x |
| Sun, 04 Sep 2022 | CA$80.3b | CA$14.3b | CA$13.2b | 4.6x | 6.1x | 5.6x |
Price to Earnings Ratio
6.1x
Current Industry PE
- Investors are relatively neutral on the Canadian REITs industry at the moment, indicating that they anticipate long term growth rates to remain steady.
- The industry is trading close to its 3-year average PS ratio of 3.8x.
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 54% per year, which is driving profits down.
Industry Trends
Which industries have driven the changes within the Canadian Real Estate industry?
| CA Market | 1.88% | |
| Real Estate | 0.56% | |
| REITS | 0.99% | |
| Specialized REITs | 3.05% | |
| Healthcare REITs | 2.27% | |
| Hotel and Resort REITs | 1.73% | |
| Office REITs | 1.42% | |
| Diversified REITs | 0.99% | |
| Residential REITs | 0.48% | |
| Retail REITs | 0.25% | |
| Industrial REITs | -0.33% | |
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 46.5%, which is higher than its past year's earnings decline of 31.9% per year.
Forecasted Growth
- Analysts are most optimistic on the Office REITs industry, expecting annual earnings growth of 112% over the next 5 years.
- This is better than its past earnings growth rate of 16% per year.
- In contrast, the Industrial REITs industry is expected to see its earnings grow by 12% 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$12.10 | 1.1% +CA$34.1m | 15.6% | PB0.7x | |
| BTB.UN BTB Real Estate Investment Trust | CA$3.73 | 1.9% +CA$6.2m | 11.7% | PB0.7x | |
| AX.UN Artis Real Estate Investment Trust | CA$7.24 | 0.7% +CA$4.8m | 3.4% | PB0.5x | |
| MRT.UN Morguard Real Estate Investment Trust | CA$5.80 | 0.9% +CA$3.3m | 7.6% | PB0.4x |