Narrative Update • May 14
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French (CAC) REITS Industry Analysis
UpdatedMay 22, 2026
DataAggregated Company Financials
Companies16
- 7D0.1%
- 3M-6.8%
- 1Y1.8%
- YTD-2.9%
In the last week, REITS has been flat. In line with that, the industry has also been flat over the past 12 months. As for the next few years, earnings are expected to grow by 15% per annum.
Industry Valuation and Performance
Has the French REITS Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Fri, 22 May 2026 | €9.2b | €2.8b | €681.9m | 13.3x | 13.4x | 3.2x |
| Sun, 19 Apr 2026 | €9.9b | €2.9b | €683.7m | 13.5x | 14.4x | 3.4x |
| Tue, 17 Mar 2026 | €9.2b | €2.8b | €682.7m | 10.5x | 13.5x | 3.3x |
| Thu, 12 Feb 2026 | €9.3b | €2.9b | €307.2m | 10.4x | 30.3x | 3.2x |
| Sat, 10 Jan 2026 | €9.2b | €2.9b | €307.2m | 10.2x | 30x | 3.2x |
| Mon, 08 Dec 2025 | €9.2b | €2.9b | €292.9m | 10.3x | 31.3x | 3.2x |
| Wed, 05 Nov 2025 | €9.2b | €2.9b | €291.3m | 10.3x | 31.6x | 3.2x |
| Fri, 03 Oct 2025 | €9.5b | €2.9b | €291.3m | 10.3x | 32.5x | 3.3x |
| Sun, 31 Aug 2025 | €9.3b | €2.9b | €291.3m | 10.2x | 32x | 3.2x |
| Tue, 29 Jul 2025 | €9.3b | €2.9b | €280.8m | 13.8x | 33.1x | 3.2x |
| Thu, 26 Jun 2025 | €9.0b | €2.9b | -€135,079,017.00 | 13.3x | -66.8x | 3.1x |
| Sat, 24 May 2025 | €8.8b | €2.9b | -€135,079,017.00 | 13.3x | -65.2x | 3x |
| Mon, 21 Apr 2025 | €8.7b | €2.9b | -€151,990,017.00 | 13.1x | -57.4x | 3x |
| Wed, 19 Mar 2025 | €8.7b | €2.8b | -€212,387,017.00 | 32.7x | -41.1x | 3.1x |
| Fri, 14 Feb 2025 | €9.0b | €3.0b | -€1,713,864,361.00 | 14.8x | -5.2x | 3x |
| Sun, 12 Jan 2025 | €8.4b | €3.0b | -€1,713,864,361.00 | 15x | -4.9x | 2.8x |
| Tue, 10 Dec 2024 | €8.7b | €3.0b | -€1,713,864,361.00 | 14.3x | -5.1x | 2.9x |
| Thu, 07 Nov 2024 | €8.9b | €3.0b | -€1,713,864,361.00 | 15.1x | -5.2x | 3x |
| Sat, 05 Oct 2024 | €9.7b | €3.0b | -€1,719,313,361.00 | 10.3x | -5.6x | 3.3x |
| Mon, 02 Sep 2024 | €8.6b | €3.0b | -€1,707,325,361.00 | 9.9x | -5x | 2.9x |
| Wed, 31 Jul 2024 | €8.3b | €3.0b | -€1,708,756,361.00 | 10.4x | -4.8x | 2.8x |
| Fri, 28 Jun 2024 | €8.2b | €2.9b | -€2,729,644,812.00 | 14.1x | -3x | 2.8x |
| Sun, 26 May 2024 | €8.7b | €2.9b | -€2,729,644,812.00 | 13.9x | -3.2x | 3x |
| Tue, 23 Apr 2024 | €7.7b | €2.9b | -€2,728,751,812.00 | 13.9x | -2.8x | 2.6x |
| Thu, 21 Mar 2024 | €7.6b | €2.8b | -€2,714,317,812.00 | 12x | -2.8x | 2.7x |
| Sat, 17 Feb 2024 | €8.0b | €3.0b | -€1,936,956,812.00 | 10.8x | -4.1x | 2.7x |
| Mon, 15 Jan 2024 | €8.7b | €3.0b | -€1,382,848,812.00 | 10.9x | -6.3x | 2.8x |
| Wed, 13 Dec 2023 | €3.9b | €2.2b | -€500,672,812.00 | 9.6x | -7.8x | 1.8x |
| Fri, 10 Nov 2023 | €4.0b | €2.1b | -€485,470,000.00 | 9.1x | -8.2x | 1.9x |
| Sun, 08 Oct 2023 | €3.8b | €2.1b | -€462,513,000.00 | 7.8x | -8.3x | 1.8x |
| Tue, 05 Sep 2023 | €4.2b | €2.1b | -€462,519,000.00 | 8.4x | -9.1x | 2x |
| Thu, 03 Aug 2023 | €4.4b | €2.1b | -€325,876,000.00 | 7.8x | -13.5x | 2.1x |
| Sat, 01 Jul 2023 | €4.5b | €2.1b | €282.5m | 7.7x | 16x | 2.1x |
| Mon, 29 May 2023 | €4.5b | €2.1b | €282.5m | 8.3x | 16x | 2.1x |
Price to Earnings Ratio
16x
Current Industry PE
- Investors are pessimistic on the French 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 higher than its 3-year average PE of -2.6x.
- The 3-year average PS ratio of 2.8x is lower than the industry's current PS ratio of 3.2x.
Past Earnings Growth
- The earnings for companies in the REITs industry have grown 34% per year over the last three years.
- Revenues for these companies have grown 10% per year.
- This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.
Industry Trends
Which industries have driven the changes within the French Real Estate industry?
| FR Market | 0.23% | |
| Real Estate | -0.75% | |
| REITS | 0.13% | |
| Office REITs | 1.00% | |
| Residential REITs | 0.42% | |
| Diversified REITs | 0.13% | |
| Specialized REITs | 0% | 0 |
| Hotel and Resort REITs | 0% | 0 |
| Healthcare REITs | 0% | 0 |
| Industrial REITs | -0.70% | |
| Retail REITs | -1.55% | |
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 37.2%, which is lower than the prior year's growth of 94.8% per year.
- Investors are most pessimistic about the Industrial REITs industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average.
Forecasted Growth
- Analysts are most optimistic on the Residential REITs industry, expecting annual earnings growth of 37% over the next 5 years.
- However this is lower than its past earnings growth rate of 95% per year.
- In contrast, the Industrial REITs industry is expected to see its earnings decline by 11% 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 | |
|---|---|---|---|---|---|
| ICAD Icade | €20.60 | 2.3% +€34.9m | -10.4% | PB0.4x | |
| BLEE Bleecker Société Anonyme | €134.00 | 3.1% +€4.5m | 7.2% | PB0.6x | |
| CBSM Société Centrale des Bois et des Scieries de la Manche | €9.75 | 1.0% +€1.3m | 10.8% | PB0.5x | |
| IMDA Immobiliere Dassault | €50.00 | 0.2% +€753.7k | -6.0% | PB0.6x |
