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Canadian (TSX) REITS Industry Analysis
UpdatedAug 26, 2025
DataAggregated Company Financials
Companies6
- 7D1.2%
- 3M11.0%
- 1Y13.5%
- YTD18.8%
In the last week, the REITS industry is up 1.2%, with H&R Real Estate Investment Trust up 1.7%. In the last 12 months, the industry was up 14%. Looking forward, earnings are forecast to grow by 99% 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, 26 Aug 2025 | CA$5.1b | CA$1.4b | -CA$110,680,261.00 | 8.6x | -46.5x | 3.7x |
| Thu, 24 Jul 2025 | CA$5.1b | CA$1.6b | -CA$195,408,672.00 | 7.8x | -26x | 3.3x |
| Sat, 21 Jun 2025 | CA$4.8b | CA$1.6b | -CA$195,408,672.00 | 7.7x | -24.5x | 3.1x |
| Mon, 19 May 2025 | CA$4.6b | CA$1.5b | -CA$195,457,672.00 | 7.8x | -23.5x | 3x |
| Wed, 16 Apr 2025 | CA$4.5b | CA$1.6b | -CA$190,710,792.00 | 7.5x | -23.4x | 2.7x |
| Fri, 14 Mar 2025 | CA$4.7b | CA$1.6b | -CA$187,099,479.00 | 7.6x | -25x | 2.9x |
| Sun, 09 Feb 2025 | CA$4.6b | CA$1.7b | -CA$391,634,479.00 | 11x | -11.8x | 2.8x |
| Tue, 07 Jan 2025 | CA$4.5b | CA$1.7b | -CA$391,634,479.00 | 11.2x | -11.6x | 2.7x |
| Thu, 05 Dec 2024 | CA$4.7b | CA$1.7b | -CA$391,634,479.00 | 11.2x | -11.9x | 2.8x |
| Sat, 02 Nov 2024 | CA$5.2b | CA$1.9b | -CA$419,037,724.00 | 9.4x | -12.5x | 2.8x |
| Mon, 30 Sep 2024 | CA$5.5b | CA$1.9b | -CA$474,273,724.00 | 9.3x | -11.7x | 2.9x |
| Wed, 28 Aug 2024 | CA$5.0b | CA$1.6b | -CA$474,273,724.00 | 8.7x | -10.5x | 3x |
| Fri, 26 Jul 2024 | CA$4.7b | CA$1.8b | -CA$341,683,846.00 | 8.2x | -13.9x | 2.6x |
| Sun, 23 Jun 2024 | CA$4.4b | CA$1.8b | -CA$341,683,846.00 | 7.8x | -12.8x | 2.4x |
| Tue, 21 May 2024 | CA$4.7b | CA$1.8b | -CA$335,752,067.00 | 6.9x | -14x | 2.6x |
| Thu, 18 Apr 2024 | CA$4.5b | CA$1.8b | -CA$243,799,117.00 | 7.5x | -18.4x | 2.5x |
| Sat, 16 Mar 2024 | CA$4.4b | CA$1.8b | -CA$243,773,556.00 | 9.7x | -17.9x | 2.4x |
| Mon, 12 Feb 2024 | CA$4.8b | CA$1.9b | -CA$454,597,636.00 | 8.6x | -10.5x | 2.5x |
| Wed, 10 Jan 2024 | CA$9.3b | CA$2.2b | CA$367.5m | 7.2x | 25.3x | 4.3x |
| Fri, 08 Dec 2023 | CA$9.0b | CA$2.2b | CA$367.5m | 6.7x | 24.6x | 4.1x |
| Sun, 05 Nov 2023 | CA$9.1b | CA$2.0b | CA$224.6m | 6.7x | 40.5x | 4.5x |
| Tue, 03 Oct 2023 | CA$9.0b | CA$2.0b | CA$250.7m | 6.1x | 36x | 4.4x |
| Thu, 31 Aug 2023 | CA$9.6b | CA$2.0b | CA$250.7m | 7.4x | 38.2x | 4.7x |
| Sat, 29 Jul 2023 | CA$9.6b | CA$2.2b | CA$486.3m | 5.4x | 19.7x | 4.4x |
| Mon, 26 Jun 2023 | CA$9.4b | CA$2.2b | CA$515.8m | 5.4x | 18.1x | 4.3x |
| Wed, 24 May 2023 | CA$9.6b | CA$2.2b | CA$512.3m | 5.4x | 18.7x | 4.4x |
| Fri, 21 Apr 2023 | CA$10.2b | CA$2.2b | CA$1.7b | 3.8x | 5.9x | 4.7x |
| Sun, 19 Mar 2023 | CA$42.9b | CA$7.8b | CA$3.7b | 5.6x | 11.5x | 5.5x |
| Tue, 14 Feb 2023 | CA$85.8b | CA$14.2b | CA$10.3b | 5.7x | 8.3x | 6.1x |
| Thu, 12 Jan 2023 | CA$83.4b | CA$14.4b | CA$11.1b | 5.3x | 7.5x | 5.8x |
| Sat, 10 Dec 2022 | CA$80.3b | CA$14.4b | CA$11.1b | 5.3x | 7.2x | 5.6x |
| Mon, 07 Nov 2022 | CA$76.1b | CA$14.2b | CA$12.1b | 4.4x | 6.3x | 5.4x |
| Wed, 05 Oct 2022 | CA$76.2b | CA$14.3b | CA$13.2b | 4.5x | 5.8x | 5.3x |
| Fri, 02 Sep 2022 | CA$79.8b | 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 | 1.05% | |
| Real Estate | 0.99% | |
| REITS | 1.19% | |
| Healthcare REITs | 2.27% | |
| Hotel and Resort REITs | 1.73% | |
| Office REITs | 1.60% | |
| Specialized REITs | 1.47% | |
| Industrial REITs | 1.26% | |
| Diversified REITs | 1.19% | |
| Retail REITs | 0.68% | |
| Residential REITs | -0.078% | |
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 47.6%, 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$12.02 | 1.7% +CA$52.5m | 17.8% | PB0.7x | |
| NET.UN Canadian Net Real Estate Investment Trust | CA$5.60 | 1.6% +CA$1.9m | 0% | PB0.9x | |
| FCD.UN Firm Capital Property Trust | CA$6.09 | 0.8% +CA$1.8m | 10.1% | PB0.7x | |
| BTB.UN BTB Real Estate Investment Trust | CA$3.71 | 0.3% +CA$882.7k | 11.4% | PB0.7x | |
| MRT.UN Morguard Real Estate Investment Trust | CA$5.78 | 0.2% +CA$653.2k | 7.8% | PB0.4x |