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Canadian (TSX) REITS Industry Analysis
UpdatedMar 16, 2026
DataAggregated Company Financials
Companies5
- 7D-1.8%
- 3M-1.5%
- 1Y1.6%
- YTD-2.0%
Over the last 7 days, the REITS industry has dropped 1.8%, driven by H&R Real Estate Investment Trust declining 2.1%. Over the last year, the industry has been flat overall. 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 |
|---|---|---|---|---|---|---|
| Tue, 17 Mar 2026 | CA$3.9b | CA$1.3b | -CA$746,559,458.00 | 9.4x | -5.3x | 2.9x |
| Thu, 12 Feb 2026 | CA$4.2b | CA$1.3b | -CA$379,898,722.00 | 9.3x | -11.1x | 3.1x |
| Sat, 10 Jan 2026 | CA$4.2b | CA$1.3b | -CA$379,898,722.00 | 8.9x | -11x | 3.1x |
| Mon, 08 Dec 2025 | CA$3.9b | CA$1.3b | -CA$379,898,722.00 | 8.4x | -10.2x | 2.9x |
| Wed, 05 Nov 2025 | CA$4.8b | CA$1.4b | -CA$117,556,261.00 | 7.9x | -40.6x | 3.5x |
| Fri, 03 Oct 2025 | CA$4.9b | CA$1.4b | -CA$110,680,261.00 | 8.9x | -44x | 3.5x |
| Sun, 31 Aug 2025 | CA$5.2b | CA$1.4b | -CA$110,680,261.00 | 8.6x | -46.5x | 3.7x |
| Tue, 29 Jul 2025 | CA$5.1b | CA$1.6b | -CA$195,408,672.00 | 7.8x | -26x | 3.3x |
| Thu, 26 Jun 2025 | CA$4.8b | CA$1.6b | -CA$195,408,672.00 | 7.7x | -24.6x | 3.1x |
| Sat, 24 May 2025 | CA$4.5b | CA$1.6b | -CA$195,408,672.00 | 7.8x | -22.9x | 2.9x |
| Mon, 21 Apr 2025 | CA$4.6b | CA$1.6b | -CA$190,710,792.00 | 7.6x | -24.2x | 2.8x |
| Wed, 19 Mar 2025 | CA$4.8b | CA$1.6b | -CA$187,099,479.00 | 7.7x | -25.6x | 2.9x |
| Fri, 14 Feb 2025 | CA$4.6b | CA$1.6b | -CA$257,037,479.00 | 11.2x | -17.9x | 2.9x |
| Sun, 12 Jan 2025 | CA$4.5b | CA$1.7b | -CA$391,634,479.00 | 10.9x | -11.4x | 2.7x |
| Tue, 10 Dec 2024 | CA$4.6b | CA$1.7b | -CA$391,634,479.00 | 11.3x | -11.7x | 2.7x |
| Thu, 07 Nov 2024 | CA$5.3b | CA$1.9b | -CA$480,656,724.00 | 12x | -11x | 2.8x |
| Sat, 05 Oct 2024 | CA$5.4b | CA$1.9b | -CA$474,273,724.00 | 9.1x | -11.5x | 2.9x |
| Mon, 02 Sep 2024 | CA$5.1b | CA$1.9b | -CA$474,273,724.00 | 8.6x | -10.7x | 2.7x |
| Wed, 31 Jul 2024 | CA$4.8b | CA$1.8b | -CA$341,683,846.00 | 8.2x | -14x | 2.6x |
| Fri, 28 Jun 2024 | CA$4.4b | CA$1.8b | -CA$341,683,846.00 | 7.9x | -12.9x | 2.4x |
| Sun, 26 May 2024 | CA$4.6b | CA$1.8b | -CA$341,683,846.00 | 8.1x | -13.5x | 2.6x |
| Tue, 23 Apr 2024 | CA$4.6b | CA$1.8b | -CA$243,799,117.00 | 7.6x | -18.7x | 2.5x |
| Thu, 21 Mar 2024 | CA$4.5b | CA$1.8b | -CA$230,119,569.00 | 7.4x | -19.4x | 2.4x |
| Sat, 17 Feb 2024 | CA$4.7b | CA$1.9b | -CA$282,200,636.00 | 10x | -16.7x | 2.5x |
| Mon, 15 Jan 2024 | CA$9.3b | CA$2.2b | CA$367.5m | 7.3x | 25.4x | 4.3x |
| Wed, 13 Dec 2023 | CA$8.9b | CA$2.2b | CA$367.5m | 6.6x | 24.2x | 4.1x |
| Fri, 10 Nov 2023 | CA$8.9b | CA$2.2b | CA$218.8m | 6.5x | 40.7x | 4.1x |
| Sun, 08 Oct 2023 | CA$8.9b | CA$2.0b | CA$250.7m | 6.3x | 35.6x | 4.4x |
| Tue, 05 Sep 2023 | CA$9.5b | CA$2.0b | CA$250.7m | 7.3x | 38x | 4.7x |
| Thu, 03 Aug 2023 | CA$9.5b | CA$2.2b | CA$475.4m | 5.4x | 20x | 4.4x |
| Sat, 01 Jul 2023 | CA$9.5b | CA$2.2b | CA$515.8m | 5.4x | 18.5x | 4.4x |
| Mon, 29 May 2023 | CA$9.5b | CA$2.2b | CA$515.8m | 5.4x | 18.5x | 4.4x |
| Wed, 26 Apr 2023 | CA$10.1b | CA$2.2b | CA$1.7b | 3.8x | 5.9x | 4.6x |
| Fri, 24 Mar 2023 | CA$10.2b | CA$2.2b | CA$1.8b | 4.6x | 5.8x | 4.7x |
Price to Earnings Ratio
5.8x
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 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 | -1.85% | |
| Real Estate | -1.86% | |
| REITS | -1.81% | |
| Office REITs | 2.39% | |
| Industrial REITs | 0.25% | |
| Retail REITs | -0.084% | |
| Hotel and Resort REITs | -0.61% | |
| Specialized REITs | -1.46% | |
| Diversified REITs | -1.81% | |
| Residential REITs | -2.53% | |
| Healthcare REITs | -5.57% | |
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 28.5%, 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 135% 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$6.60 | 0.6% +CA$2.7m | 19.1% | PB0.5x | |
| BTB.UN BTB Real Estate Investment Trust | CA$3.81 | 0.8% +CA$2.6m | 12.4% | PB0.7x | |
| NET.UN Canadian Net Real Estate Investment Trust | CA$6.15 | 0.2% +CA$309.0k | 14.5% | PB0.9x |