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U.K. (FTSE) REITS Industry Analysis

UpdatedApr 20, 2026
DataAggregated Company Financials
Companies14
  • 7D6.4%
  • 3M0.1%
  • 1Y8.5%
  • YTD2.1%

In the last week, the REITS industry is up 6.4%, with Land Securities Group up 5.5%. In the last 12 months, the industry was up 8.5%. As for the next few years, earnings are expected to grow by 9.8% per annum.

Industry Valuation and Performance

Has the U.K. REITS Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 21 Apr 2026UK£14.5bUK£2.3bUK£1.3b9x11x6.4x
Thu, 19 Mar 2026UK£12.1bUK£2.0bUK£1.1b9.4x10.6x6.1x
Sat, 14 Feb 2026UK£13.1bUK£2.0bUK£1.1b10.2x11.8x6.7x
Mon, 12 Jan 2026UK£13.1bUK£2.0bUK£1.1b9.5x11.7x6.6x
Wed, 10 Dec 2025UK£12.3bUK£2.0bUK£1.1b9.1x11.2x6.3x
Fri, 07 Nov 2025UK£12.8bUK£1.9bUK£1.1b10x11.2x6.8x
Sun, 05 Oct 2025UK£9.5bUK£1.6bUK£824.1m10.9x11.5x5.8x
Tue, 02 Sep 2025UK£8.9bUK£1.7bUK£810.9m9.9x10.9x5.3x
Thu, 31 Jul 2025UK£9.3bUK£1.7bUK£795.6m10.7x11.7x5.6x
Sat, 28 Jun 2025UK£14.8bUK£2.1bUK£1.1b11.7x12.9x7.2x
Mon, 26 May 2025UK£13.9bUK£2.1bUK£1.1b11.7x12.8x6.8x
Wed, 23 Apr 2025UK£13.5bUK£1.9bUK£471.8m22.2x28.7x7.3x
Fri, 21 Mar 2025UK£13.0bUK£1.9bUK£463.8m21.7x28x7x
Sun, 16 Feb 2025UK£13.5bUK£1.9bUK£461.0m22.1x29.2x7.3x
Tue, 14 Jan 2025UK£12.3bUK£1.9bUK£466.7m21x26.3x6.6x
Thu, 12 Dec 2024UK£13.3bUK£1.9bUK£458.4m23.5x28.9x7.2x
Sat, 09 Nov 2024UK£14.5bUK£2.0b-UK£309,997,421.4328.3x-46.7x7.3x
Mon, 07 Oct 2024UK£15.2bUK£2.0b-UK£319,674,617.3429.4x-47.6x7.7x
Wed, 04 Sep 2024UK£14.9bUK£2.0b-UK£280,707,690.0027.7x-53.2x7.5x
Fri, 02 Aug 2024UK£14.9bUK£2.0b-UK£280,720,942.5528.1x-53.1x7.5x
Sun, 30 Jun 2024UK£14.4bUK£2.0b-UK£274,908,660.5026.4x-52.6x7.2x
Tue, 28 May 2024UK£14.8bUK£2.0b-UK£766,598,016.1214.3x-19.3x7.6x
Thu, 25 Apr 2024UK£14.7bUK£2.0b-UK£2,341,653,185.7819.8x-6.3x7.4x
Sat, 23 Mar 2024UK£15.1bUK£2.0b-UK£2,706,565,281.5620.2x-5.6x7.5x
Mon, 19 Feb 2024UK£12.6bUK£2.1b-UK£2,898,314,022.2020.1x-4.3x5.9x
Wed, 17 Jan 2024UK£16.4bUK£2.4b-UK£2,672,217,361.0011.4x-6.1x6.8x
Fri, 15 Dec 2023UK£16.7bUK£2.4b-UK£2,655,620,607.0011.4x-6.3x7x
Sun, 12 Nov 2023UK£15.2bUK£2.2b-UK£2,598,572,105.0011.5x-5.8x7x
Tue, 10 Oct 2023UK£14.9bUK£2.2b-UK£2,587,551,952.0012.1x-5.8x6.8x
Thu, 07 Sep 2023UK£15.1bUK£2.2b-UK£1,758,715,765.007.5x-8.6x6.9x
Sat, 05 Aug 2023UK£18.3bUK£2.3b-UK£1,965,765,922.007.5x-9.3x8.1x
Mon, 03 Jul 2023UK£17.3bUK£2.3b-UK£1,991,692,923.006.1x-8.7x7.6x
Wed, 31 May 2023UK£18.4bUK£2.2b-UK£1,346,222,503.006.4x-13.6x8.4x
Fri, 28 Apr 2023UK£19.3bUK£2.2bUK£1.5b6.5x13x8.8x
Price to Earnings Ratio

13x


Total Market Cap: UK£19.3bTotal Earnings: UK£1.5bTotal Revenue: UK£2.2bTotal Market Cap vs Earnings and Revenue0%0%0%
U.K. REITS Industry Price to Earnings3Y Average -1.4x202420252026
Current Industry PE
  • Investors are pessimistic on the British 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 11.0x which is higher than its 3-year average PE of -1.4x.
  • The industry is trading close to its 3-year average PS ratio of 7.0x.
Past Earnings Growth
  • The earnings for companies in the REITs industry have declined 3.9% per year over the last three years.
  • Meanwhile revenues have remained mostly flat.
  • This means that although sales have remained flat, 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 U.K. Real Estate industry?

GB Market1.21%
Real Estate5.36%
REITS6.42%
Retail REITs7.23%
Diversified REITs6.42%
Industrial REITs5.92%
Office REITs4.42%
Residential REITs3.89%
Healthcare REITs3.79%
Specialized REITs0%0
Industry PE
  • Investors are most optimistic about the Office REITs industry even though it's trading below its 3-year average PE ratio of 149x.
    • Analysts are expecting annual earnings growth of 22.3%, which is lower than the prior year's growth of 39.0% per year.
  • Investors are most pessimistic about the Retail REITs industry, which is trading below its 3-year average of 50.1x.
Forecasted Growth
  • Analysts are most optimistic on the Office REITs industry, expecting annual earnings growth of 22% over the next 5 years.
  • However this is lower than its past earnings growth rate of 39% per year.
  • In contrast, the Retail REITs industry is expected to see its earnings grow by 4.3% per year over the next few years.

Top Stock Gainers and Losers

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

CompanyLast Price7D1YValuation
LAND Land Securities GroupUK£6.155.5%
+UK£238.1m		6.6%PB0.7x
BLND British LandUK£3.965.0%
+UK£188.0m		3.2%PB0.7x
SHC Shaftesbury CapitalUK£1.403.6%
+UK£87.4m		8.0%PB0.6x
SRE Sirius Real EstateUK£1.024.2%
+UK£64.8m		13.5%PB1.1x
SREI Schroder Real Estate Investment TrustUK£0.512.8%
+UK£6.8m		0.4%PB0.8x

Latest News

BLND
UK£3.96
British Land
7D
5.0%
1Y
3.2%
CREI
UK£0.87
Custodian Property Income REIT
7D
-0.9%
1Y
12.3%
PCTN
UK£0.80
Picton Property Income
7D
1.6%
1Y
10.8%
RLE
UK£0.31
Real Estate Investors
7D
1.6%
1Y
6.2%
SHC
UK£1.40
Shaftesbury Capital
7D
3.6%
1Y
8.0%
LAND
UK£6.15
Land Securities Group
7D
5.5%
1Y
6.6%

LAND: Future Income Will Rely On Prime London Leasing Execution

Analysts have trimmed their average price target for Land Securities by around £0.03, citing slightly softer fair value estimates, a small adjustment to the discount rate, and modestly weaker revenue and margin assumptions, even as forward P/E expectations edge a little higher. Analyst Commentary Recent research around Land Securities Group has been mixed, with several firms trimming price targets while others adjust ratings and stance.
SRE
UK£1.02
Sirius Real Estate
7D
4.2%
1Y
13.5%

SRE: Defence-Focused Acquisitions And Fresh Equity Funding Will Support Future Income

Analysts have lifted their Sirius Real Estate price target slightly to about £1.27, citing updated assumptions that include a lower discount rate and a modestly reduced future P/E multiple, along with small tweaks to revenue growth and margin expectations. Analyst Commentary Bullish Takeaways Bullish analysts see the recent price target uplift as a sign that updated assumptions on discount rates and P/E leave room for the share price to move closer to their fundamental view of fair value.
TOWN
UK£1.14
Town Centre Securities
7D
-2.1%
1Y
-14.9%
SERE
UK£0.62
Schroder European Real Estate Investment Trust
7D
1.5%
1Y
-5.8%
SREI
UK£0.51
Schroder Real Estate Investment Trust
7D
2.8%
1Y
0.4%
API
UK£0.017
abrdn Property Income Trust
7D
-12.6%
1Y
-70.6%