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Canadian (TSX) REITS Industry Analysis
UpdatedMay 05, 2025
DataAggregated Company Financials
Companies7
- 7D1.3%
- 3M3.3%
- 1Y9.2%
- YTD4.4%
In the last week, the REITS industry is up 1.3%, with H&R Real Estate Investment Trust up 0.2%. In the last 12 months, the industry was up 9.2%. Earnings are forecast to grow by 93% 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, 06 May 2025 | CA$4.5b | CA$1.6b | -CA$135,003,792.00 | 7.7x | -33.4x | 2.9x |
| Thu, 03 Apr 2025 | CA$4.8b | CA$1.6b | -CA$190,710,792.00 | 7.8x | -25x | 2.9x |
| Sat, 01 Mar 2025 | CA$4.8b | CA$1.7b | -CA$239,924,479.00 | 7.8x | -19.9x | 2.8x |
| Mon, 27 Jan 2025 | CA$4.2b | CA$1.7b | -CA$391,634,479.00 | 10.9x | -10.8x | 2.5x |
| Wed, 25 Dec 2024 | CA$4.5b | CA$1.7b | -CA$391,634,479.00 | 11.1x | -11.4x | 2.7x |
| Fri, 22 Nov 2024 | CA$5.0b | CA$1.8b | -CA$388,395,613.00 | 11.1x | -12.9x | 2.8x |
| Sun, 20 Oct 2024 | CA$5.5b | CA$1.9b | -CA$474,273,724.00 | 9.4x | -11.6x | 2.9x |
| Tue, 17 Sep 2024 | CA$5.5b | CA$1.9b | -CA$474,273,724.00 | 9.3x | -11.7x | 2.9x |
| Thu, 15 Aug 2024 | CA$4.7b | CA$1.7b | -CA$248,596,459.00 | 8.6x | -19x | 2.7x |
| Sat, 13 Jul 2024 | CA$4.6b | CA$1.8b | -CA$341,683,846.00 | 8x | -13.4x | 2.5x |
| Mon, 10 Jun 2024 | CA$4.6b | CA$1.8b | -CA$341,683,846.00 | 8x | -13.4x | 2.5x |
| Wed, 08 May 2024 | CA$4.5b | CA$1.8b | -CA$261,426,117.00 | 7.9x | -17.3x | 2.5x |
| Fri, 05 Apr 2024 | CA$4.5b | CA$1.8b | -CA$236,724,569.00 | 7.6x | -19.1x | 2.5x |
| Sun, 03 Mar 2024 | CA$4.4b | CA$1.9b | -CA$228,340,636.00 | 9.5x | -19.4x | 2.4x |
| Tue, 30 Jan 2024 | CA$9.4b | CA$2.2b | CA$367.5m | 7.4x | 25.5x | 4.3x |
| Thu, 28 Dec 2023 | CA$9.2b | CA$2.2b | CA$367.5m | 6.9x | 25.2x | 4.2x |
| Sat, 25 Nov 2023 | CA$8.9b | CA$2.2b | CA$367.5m | 6.8x | 24.3x | 4.1x |
| Mon, 23 Oct 2023 | CA$8.9b | CA$2.0b | CA$250.7m | 6.3x | 35.4x | 4.4x |
| Wed, 20 Sep 2023 | CA$9.4b | CA$2.0b | CA$250.7m | 7.2x | 37.6x | 4.6x |
| Fri, 18 Aug 2023 | CA$9.5b | CA$2.1b | CA$251.7m | 7.5x | 37.7x | 4.5x |
| Sun, 16 Jul 2023 | CA$9.6b | CA$2.2b | CA$515.8m | 5.4x | 18.5x | 4.4x |
| Tue, 13 Jun 2023 | CA$9.6b | CA$2.2b | CA$515.8m | 5.4x | 18.5x | 4.4x |
| Thu, 11 May 2023 | CA$9.9b | CA$2.2b | CA$1.7b | 3.7x | 5.9x | 4.5x |
| Sat, 08 Apr 2023 | CA$10.3b | CA$2.2b | CA$1.7b | 4x | 6x | 4.7x |
| Mon, 06 Mar 2023 | CA$86.0b | CA$14.1b | CA$7.8b | 6.4x | 11.1x | 6.1x |
| Wed, 01 Feb 2023 | CA$86.6b | CA$14.4b | CA$11.1b | 5.4x | 7.8x | 6x |
| Fri, 30 Dec 2022 | CA$79.1b | CA$14.4b | CA$11.1b | 5.1x | 7.1x | 5.5x |
| Sun, 27 Nov 2022 | CA$82.2b | CA$14.4b | CA$11.1b | 5.3x | 7.4x | 5.7x |
| Tue, 25 Oct 2022 | CA$73.9b | CA$14.3b | CA$13.2b | 4.4x | 5.6x | 5.2x |
| Thu, 22 Sep 2022 | CA$78.1b | CA$14.3b | CA$13.2b | 4.4x | 5.9x | 5.5x |
| Sat, 20 Aug 2022 | CA$84.9b | CA$14.2b | CA$13.2b | 4.8x | 6.4x | 6x |
| Mon, 18 Jul 2022 | CA$78.8b | CA$13.8b | CA$14.6b | 4.7x | 5.4x | 5.7x |
| Wed, 15 Jun 2022 | CA$81.5b | CA$13.7b | CA$14.6b | 5x | 5.6x | 5.9x |
| Fri, 13 May 2022 | CA$85.1b | CA$13.8b | CA$13.2b | 6.4x | 6.5x | 6.2x |
Price to Earnings Ratio
6.5x
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 4.1x 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 52% per year, which is driving profits down.
Industry Trends
Which industries have driven the changes within the Canadian Real Estate industry?
| CA Market | 1.15% | |
| Real Estate | 2.20% | |
| REITS | 1.26% | |
| Residential REITs | 4.68% | |
| Specialized REITs | 3.27% | |
| Retail REITs | 1.59% | |
| Diversified REITs | 1.26% | |
| Industrial REITs | 0.34% | |
| Healthcare REITs | 0.20% | |
| Office REITs | -1.92% | |
| Hotel and Resort REITs | -5.15% | |
Industry PE
- Investors are most optimistic about the Retail REITs industry, which is trading close to its 3-year average PE ratio of 18.1x.
- Analysts are expecting annual earnings growth of 13.0%, which is lower than the prior year's growth of 42.1% per year.
Forecasted Growth
- Analysts are most optimistic on the Healthcare REITs industry, expecting annual earnings growth of 118% over the next 5 years.
- In contrast, the Industrial REITs industry is expected to see its earnings grow by 2.8% 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$9.80 | 0.2% +CA$5.3m | 6.2% | PB0.5x | |
| NET.UN Canadian Net Real Estate Investment Trust | CA$5.35 | 3.1% +CA$3.3m | 7.9% | PB0.9x | |
| AX.UN Artis Real Estate Investment Trust | CA$7.28 | 0.4% +CA$3.0m | 13.4% | PB0.5x | |
| FCD.UN Firm Capital Property Trust | CA$6.03 | 0.8% +CA$1.8m | 21.6% | PB0.7x |