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Canadian (TSX) Residential REITs Industry Analysis

UpdatedDec 24, 2025
DataAggregated Company Financials
Companies12
  • 7D1.2%
  • 3M-8.2%
  • 1Y-6.0%
  • YTD-6.2%

The Residential REITs industry is up 2.0% in the last week, with Boardwalk Real Estate Investment Trust up 2.1%. However, the industry is down 5.2% over the past year. As for the next few years, earnings are expected to grow by 24% per annum.

Industry Valuation and Performance

Has the Canadian Residential REITs Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 24 Dec 2025CA$17.1bCA$3.4bCA$1.3b4.9x13.3x5x
Fri, 21 Nov 2025CA$17.5bCA$3.5bCA$1.2b5.6x14.5x5.1x
Sun, 19 Oct 2025CA$18.1bCA$3.5bCA$1.1b7.2x16.5x5.1x
Tue, 16 Sep 2025CA$19.4bCA$3.5bCA$1.1b7.4x17.7x5.5x
Thu, 14 Aug 2025CA$18.9bCA$3.4bCA$779.4m6.6x24.2x5.6x
Sat, 12 Jul 2025CA$19.4bCA$3.4bCA$1.0b5.7x18.7x5.7x
Mon, 09 Jun 2025CA$19.6bCA$3.4bCA$1.0b5.7x18.7x5.8x
Wed, 07 May 2025CA$18.7bCA$3.4bCA$1.6b5.4x11.9x5.5x
Fri, 04 Apr 2025CA$18.7bCA$3.4bCA$1.6b7.3x12.1x5.5x
Sun, 02 Mar 2025CA$17.9bCA$3.4bCA$1.2b5.9x15x5.3x
Tue, 28 Jan 2025CA$17.7bCA$3.4bCA$1.1b7.2x16x5.2x
Thu, 26 Dec 2024CA$19.1bCA$3.4bCA$1.1b7.4x17.2x5.7x
Sat, 23 Nov 2024CA$19.8bCA$3.4bCA$1.1b7.8x17.8x5.9x
Mon, 21 Oct 2024CA$21.8bCA$3.3bCA$904.2m5.9x24.1x6.6x
Wed, 18 Sep 2024CA$23.6bCA$3.3bCA$907.3m6.4x26.1x7.1x
Fri, 16 Aug 2024CA$21.1bCA$3.3bCA$905.4m5.7x23.3x6.4x
Sun, 14 Jul 2024CA$20.1bCA$3.3bCA$853.9m5.9x23.6x6.2x
Tue, 11 Jun 2024CA$19.1bCA$3.3bCA$851.9m5.7x22.5x5.9x
Thu, 09 May 2024CA$19.4bCA$3.3bCA$582.0m5.7x33.3x6x
Sat, 06 Apr 2024CA$19.3bCA$3.2bCA$267.2m5.4x72.4x6x
Mon, 04 Mar 2024CA$20.6bCA$3.2bCA$386.0m5.6x53.5x6.4x
Wed, 31 Jan 2024CA$20.2bCA$3.2bCA$76.3m5.2x264.9x6.4x
Fri, 29 Dec 2023CA$20.1bCA$3.1bCA$68.1m6.9x295.4x6.4x
Sun, 26 Nov 2023CA$18.3bCA$3.2bCA$60.3m5.9x303x5.8x
Tue, 24 Oct 2023CA$17.5bCA$3.1bCA$774.9m10x22.6x5.7x
Thu, 21 Sep 2023CA$19.8bCA$3.1bCA$777.1m11.5x25.5x6.4x
Sat, 19 Aug 2023CA$19.6bCA$3.1bCA$774.0m8.5x25.3x6.3x
Mon, 17 Jul 2023CA$20.3bCA$3.0bCA$1.1b3.9x18.3x6.8x
Wed, 14 Jun 2023CA$19.4bCA$3.0bCA$1.1b4.3x17.5x6.5x
Fri, 12 May 2023CA$19.8bCA$3.0bCA$1.3b4.5x15.6x6.6x
Sun, 09 Apr 2023CA$19.2bCA$3.0bCA$1.6b3.9x12.2x6.4x
Price to Earnings Ratio

12x


Total Market Cap: CA$19.0bTotal Earnings: CA$1.6bTotal Revenue: CA$3.0bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Residential REITs Industry Price to Earnings3Y Average 47.2x20242025
Current Industry PE
  • Investors are pessimistic on the Canadian Residential REITs industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 13.4x which is lower than its 3-year average PE of 47.2x.
  • The 3-year average PS ratio of 6.0x is higher than the industry's current PS ratio of 5.0x.
Past Earnings Growth
  • The earnings for companies in the Residential REITs industry have declined 6.7% per year over the last three years.
  • Meanwhile revenues for these companies have grown 4.5% per year.
  • This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.

Industry Trends

Which industries have driven the changes within the Canadian Real Estate industry?

CA Market2.23%
Real Estate0.91%
Residential REITs1.21%
Single-Family Residential REITs1.48%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
BEI.UN Boardwalk Real Estate Investment TrustCA$63.982.1%
+CA$65.7m		0.3%PB0.6x
CAR.UN Canadian Apartment Properties Real Estate Investment TrustCA$36.740.9%
+CA$48.2m		-13.6%PB0.6x
GO.U GO Residential Real Estate Investment TrustUS$11.403.4%
+US$12.4m		n/aPB0.4x
HOM.UN BSR Real Estate Investment TrustCA$17.213.0%
+CA$16.8m		-0.8%PB0.7x
MI.UN Minto Apartment Real Estate Investment TrustCA$13.462.4%
+CA$11.7m		1.7%PB0.5x

Latest News

MHC.UN
CA$19.72
Flagship Communities Real Estate Investment Trust
7D
-24.9%
1Y
-9.3%
BEI.UN
CA$63.98
Boardwalk Real Estate Investment Trust
7D
2.1%
1Y
0.3%
CAR.UN
CA$36.74
Canadian Apartment Properties Real Estate Investment Trust
7D
0.9%
1Y
-13.6%

CAR.UN: Revenue And Margin Improvements Will Face Tighter Upside Expectations

Analysts have trimmed their price target on Canadian Apartment Properties Real Estate Investment Trust to roughly C$41 from about C$45, reflecting lower fair value estimates even as they highlight improving revenue growth, stronger profit margins, and a more attractive future earnings multiple. Analyst Commentary Bearish analysts have recently adjusted their models to reflect a more cautious outlook on Canadian Apartment Properties Real Estate Investment Trust, trimming price targets despite acknowledging operational improvements.
MI.UN
CA$13.46
Minto Apartment Real Estate Investment Trust
7D
2.4%
1Y
1.7%
HOM.UN
CA$17.21
BSR Real Estate Investment Trust
7D
3.0%
1Y
-0.8%
KMP.UN
CA$16.28
Killam Apartment REIT
7D
-0.1%
1Y
-4.7%
MRG.UN
CA$17.29
Morguard North American Residential Real Estate Investment Trust
7D
0.6%
1Y
0.9%
GO.U
US$11.40
GO Residential Real Estate Investment Trust
7D
3.4%
1Y
n/a
ERE.UN
CA$1.13
European Residential Real Estate Investment Trust
7D
1.8%
1Y
-70.6%
FCA.UN
CA$4.24
Firm Capital Apartment Real Estate Investment Trust
7D
6.0%
1Y
-17.7%