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U.S. Real Estate Sector Analysis

UpdatedFeb 27, 2026
DataAggregated Company Financials
Companies275
  • 7D1.4%
  • 3M4.2%
  • 1Y2.2%
  • YTD7.7%

Over the last 7 days, the Real Estate industry has risen 1.4%, driven by gains in Prologis and Equinix of 2.6% and 3.3%, respectively. In the same time, CoStar Group was down 8.3%. Despite this gain, the industry's performance has been flat over the past year. Looking forward, earnings are forecast to grow by 9.4% annually.

Sector Valuation and Performance

Has the U.S. Real Estate Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 27 Feb 2026US$1.6tUS$335.2bUS$34.8b29.9x46.4x4.8x
Sun, 25 Jan 2026US$1.5tUS$333.3bUS$32.5b29.1x47.4x4.6x
Tue, 23 Dec 2025US$1.5tUS$337.5bUS$32.9b28.9x45.7x4.4x
Thu, 20 Nov 2025US$1.5tUS$338.1bUS$32.7b28.3x46.4x4.5x
Sat, 18 Oct 2025US$1.5tUS$332.0bUS$30.7b29x50x4.6x
Mon, 15 Sep 2025US$1.6tUS$331.7bUS$30.9b29.4x50.6x4.7x
Wed, 13 Aug 2025US$1.5tUS$331.2bUS$30.8b28x48x4.5x
Fri, 11 Jul 2025US$1.5tUS$325.8bUS$29.9b30.1x49.7x4.6x
Sun, 08 Jun 2025US$1.5tUS$326.3bUS$29.9b29.8x50.3x4.6x
Tue, 06 May 2025US$1.5tUS$324.1bUS$29.4b29.1x51.1x4.6x
Thu, 03 Apr 2025US$1.5tUS$321.5bUS$28.7b30.9x53.1x4.7x
Sat, 01 Mar 2025US$1.6tUS$325.4bUS$30.1b32.5x53.5x4.9x
Mon, 27 Jan 2025US$1.5tUS$320.4bUS$28.2b31.6x53.6x4.7x
Wed, 25 Dec 2024US$1.5tUS$320.0bUS$27.4b32.1x56x4.8x
Fri, 22 Nov 2024US$1.6tUS$319.4bUS$27.4b34.6x59.1x5.1x
Sun, 20 Oct 2024US$1.7tUS$314.8bUS$27.0b34.3x61.2x5.2x
Tue, 17 Sep 2024US$1.6tUS$315.4bUS$27.2b33.8x60.6x5.2x
Thu, 15 Aug 2024US$1.5tUS$314.7bUS$27.7b31x55.4x4.9x
Sat, 13 Jul 2024US$1.4tUS$305.7bUS$27.1b32x53.2x4.7x
Mon, 10 Jun 2024US$1.4tUS$306.4bUS$27.7b30.3x49.8x4.5x
Wed, 08 May 2024US$1.4tUS$307.9bUS$28.7b29.4x47.6x4.4x
Fri, 05 Apr 2024US$1.4tUS$306.7bUS$27.8b30.1x50.1x4.5x
Sun, 03 Mar 2024US$1.4tUS$305.5bUS$28.3b29.2x50.2x4.6x
Tue, 30 Jan 2024US$1.5tUS$323.3bUS$26.8b30.9x54.6x4.5x
Thu, 28 Dec 2023US$1.5tUS$323.1bUS$26.5b31.3x57.5x4.7x
Sat, 25 Nov 2023US$1.4tUS$323.0bUS$26.5b28.5x51.8x4.2x
Mon, 23 Oct 2023US$1.2tUS$325.3bUS$31.0b25.9x40.2x3.8x
Wed, 20 Sep 2023US$1.4tUS$325.3bUS$31.5b28x43.7x4.2x
Fri, 18 Aug 2023US$1.4tUS$323.2bUS$31.3b28.7x44.1x4.3x
Sun, 16 Jul 2023US$1.4tUS$325.2bUS$34.4b25.6x42x4.4x
Tue, 13 Jun 2023US$1.4tUS$314.7bUS$35.5b24.2x38.1x4.3x
Thu, 11 May 2023US$1.4tUS$314.4bUS$34.8b23.5x38.8x4.3x
Sat, 08 Apr 2023US$1.3tUS$315.8bUS$38.0b25.1x35.5x4.3x
Mon, 06 Mar 2023US$1.4tUS$315.1bUS$38.1b25.1x37.1x4.5x
Price to Earnings Ratio

37.1x


Total Market Cap: US$1.4tTotal Earnings: US$38.1bTotal Revenue: US$315.1bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Real Estate Sector Price to Earnings3Y Average 49.7x202420252026
Current Industry PE
  • Investors are pessimistic on the American Real Estate 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 46.4x which is lower than its 3-year average PE of 49.7x.
  • The industry is trading close to its 3-year average PS ratio of 4.6x.
Past Earnings Growth
  • The earnings for companies in the Real Estate industry have declined 3.0% per year over the last three years.
  • Meanwhile revenues for these companies have grown 2.1% 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 U.S. Real Estate sector?

US Market0.58%
Real Estate1.44%
Industrial REITs2.76%
REITS2.57%
Retail REITs2.37%
Hotel and Resort REITs1.78%
Residential REITs1.66%
Specialized REITs1.36%
Health Care REITs1.04%
Office REITs0.11%
Real Estate-0.95%
Industry PE
  • Investors are most optimistic about the Health Care REITs industry which is trading above its 3-year average PE ratio of 312x.
    • Analysts are expecting annual earnings growth of 28.4%, which is higher than its past year's earnings growth of 19.5% per year.
Forecasted Growth
  • Analysts are most optimistic on the Real Estate industry, expecting annual earnings growth of 32% over the next 5 years.
  • This is better than its past earnings growth rate of 1.4% per year.
  • In contrast, the Office REITs industry is expected to see its earnings decline by 22% 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
PLD PrologisUS$142.662.6%
+US$3.4b		16.2%PB2.5x
EQIX EquinixUS$948.023.3%
+US$2.9b		4.1%PB6.6x
O Realty IncomeUS$66.601.7%
+US$1.8b		17.7%PB1.6x
PSA Public StorageUS$303.951.8%
+US$956.5m		-0.6%PB10.9x
SPG Simon Property GroupUS$202.601.4%
+US$936.6m		11.0%PB12.8x

Latest News

SBAC
US$192.17
SBA Communications
7D
-3.1%
1Y
-11.9%
COMP
US$10.00
Compass
7D
-4.1%
1Y
11.0%
SPG
US$202.60
Simon Property Group
7D
1.4%
1Y
11.0%
FRMI
US$10.85
Fermi
7D
13.5%
1Y
n/a
OUT
US$28.52
OUTFRONT Media
7D
12.8%
1Y
55.8%

OUT: Formula E And ANA Alliances Will Shape Future Real World Media Returns

Analysts have raised their price target on OUTFRONT Media to about $26.17 from $25, reflecting updated assumptions around fair value, discount rate, revenue growth, profit margin, and future P/E. What's in the News OUTFRONT Media has been named the Official OOH Advertising Partner of the 2026 ABB FIA Formula E Miami E Prix and Associate Partner of Change.
CSGP
US$45.00
CoStar Group
7D
-8.3%
1Y
-39.5%
SUI
US$135.78
Sun Communities
7D
5.0%
1Y
1.9%
O
US$66.60
Realty Income
7D
1.7%
1Y
17.7%
PSA
US$303.95
Public Storage
7D
1.8%
1Y
-0.6%

PSA: Low-Cost Capital And CEO Transition Will Shape Mixed 2026 Storage Outlook

Narrative Update on Public Storage The updated analyst price target framework for Public Storage reflects a small fair value adjustment of about $1. Analysts balance a slightly higher revenue growth outlook with modestly lower profit margin and future P/E assumptions, while highlighting the company's low cost of capital, acquisition capacity and cycle tested development capabilities.
AMT
US$185.01
American Tower
7D
0.1%
1Y
-9.3%
PLD
US$142.66
Prologis
7D
2.6%
1Y
16.2%

PLD: Fair Outlook Balances 2026 Earnings Guidance With Premium Industrial REIT Multiples

The analyst fair value estimate for Prologis has shifted modestly higher to $140.75 from $139.40. This reflects updated Street research where multiple firms raised price targets, while a few downgrades highlighted more mixed views on valuation and growth assumptions.
AMH
US$30.35
American Homes 4 Rent
7D
-1.7%
1Y
-16.7%

AMH: Regulatory Headwinds Will Ultimately Highlight Underlying Single Family Rental Value

Narrative update: Analyst target and rationale The updated fair value estimate for American Homes 4 Rent has edged to $36.64. This reflects analysts' lower price targets in the $32 to $37 range as they factor in higher discount rates, slightly softer margin expectations, and regulatory uncertainty around institutional ownership of single family rentals.
HHH
US$72.57
Howard Hughes Holdings
7D
-11.8%
1Y
-6.3%

HHH: Higher Margin Outlook And Reduced Future P/E Will Support Long-Term Compounding

Analysts have adjusted their price target for Howard Hughes Holdings to $96.33, reflecting updated views on discount rates, revenue trends and profit margins, while assuming a future P/E of 23.52x. Valuation Changes Fair Value: Model fair value remains unchanged at $96.33 per share.
EQIX
US$948.02
Equinix
7D
3.3%
1Y
4.1%
WY
US$24.52
Weyerhaeuser
7D
-4.0%
1Y
-18.4%
BEKE
US$16.63
KE Holdings
7D
-2.9%
1Y
-27.4%

BEKE: Margin Discipline And Higher Future P/E Will Drive Upside Potential

Analysts have modestly lifted their fair value estimate for KE Holdings to about $20.93, citing updated assumptions around discount rates, profit margins, revenue growth and future P/E multiples, even as some firms, including one recent downgrade, reassess the stock's risk and return profile. Analyst Commentary Analyst sentiment around KE Holdings is mixed, with the recent downgrade at Goldman Sachs highlighting areas of concern even as some models support a fair value estimate near US$20.93 based on updated assumptions.