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U.S. Real Estate Sector Analysis

UpdatedJan 11, 2026
DataAggregated Company Financials
Companies287
  • 7D1.2%
  • 3M0.7%
  • 1Y4.8%
  • YTD1.3%

Over the last 7 days, the Real Estate industry has risen 1.2%, driven by gains in Equinix and Public Storage of 4.7% and 7.6%, respectively. Meanwhile, CoStar Group actually underperformed within the industry, shrinking 11% in the last week. In the last 12 months, the industry was up 4.8%. Earnings are forecast to grow by 11% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 11 Jan 2026US$1.5tUS$333.2bUS$32.5b29.1x46.9x4.6x
Tue, 09 Dec 2025US$1.5tUS$338.2bUS$32.8b28.8x46.7x4.5x
Thu, 06 Nov 2025US$1.5tUS$337.6bUS$32.1b27.2x47.3x4.5x
Sat, 04 Oct 2025US$1.6tUS$331.8bUS$31.0b28.6x50.1x4.7x
Mon, 01 Sep 2025US$1.5tUS$331.6bUS$30.9b30.1x50.1x4.7x
Wed, 30 Jul 2025US$1.5tUS$328.5bUS$29.8b30.4x50.5x4.6x
Fri, 27 Jun 2025US$1.5tUS$326.1bUS$29.7b29.7x49.6x4.5x
Sun, 25 May 2025US$1.5tUS$326.6bUS$29.8b27.4x49x4.5x
Tue, 22 Apr 2025US$1.5tUS$321.6bUS$28.6b29.3x50.8x4.5x
Thu, 20 Mar 2025US$1.5tUS$321.6bUS$29.0b31.9x52.7x4.7x
Sat, 15 Feb 2025US$1.6tUS$323.1bUS$28.0b32.4x56.6x4.9x
Mon, 13 Jan 2025US$1.5tUS$319.9bUS$27.4b29.8x53.5x4.6x
Wed, 11 Dec 2024US$1.6tUS$320.1bUS$27.4b33.9x59.6x5.1x
Fri, 08 Nov 2024US$1.6tUS$319.1bUS$27.3b34.5x58.8x5x
Sun, 06 Oct 2024US$1.6tUS$314.7bUS$26.7b33.5x60.7x5.1x
Tue, 03 Sep 2024US$1.6tUS$314.7bUS$27.1b34.3x59x5.1x
Thu, 01 Aug 2024US$1.5tUS$312.2bUS$26.6b32.6x57.2x4.9x
Sat, 29 Jun 2024US$1.4tUS$306.5bUS$27.7b30.9x50.2x4.5x
Mon, 27 May 2024US$1.4tUS$306.4bUS$27.6b30.6x49.5x4.5x
Wed, 24 Apr 2024US$1.3tUS$306.7bUS$28.1b29.7x47.6x4.4x
Fri, 22 Mar 2024US$1.4tUS$306.1bUS$28.2b29.9x50x4.6x
Sun, 18 Feb 2024US$1.4tUS$306.4bUS$27.8b30x50.3x4.6x
Tue, 16 Jan 2024US$1.5tUS$323.0bUS$26.6b31.3x56.1x4.6x
Thu, 14 Dec 2023US$1.4tUS$323.0bUS$26.5b30.5x54x4.4x
Sat, 11 Nov 2023US$1.3tUS$323.9bUS$26.5b27.8x48.7x4x
Mon, 09 Oct 2023US$1.3tUS$325.2bUS$31.5b26.3x40.7x3.9x
Wed, 06 Sep 2023US$1.4tUS$324.0bUS$31.7b29.1x44x4.3x
Fri, 04 Aug 2023US$1.4tUS$326.1bUS$33.3b28.5x43x4.4x
Sun, 02 Jul 2023US$1.4tUS$322.8bUS$34.0b24.2x42.1x4.4x
Tue, 30 May 2023US$1.3tUS$314.8bUS$35.5b23.2x36.5x4.1x
Thu, 27 Apr 2023US$1.3tUS$312.9bUS$37.2b23.5x35.3x4.2x
Sat, 25 Mar 2023US$173.0bUS$137.5bUS$2.2b14.1x77.6x1.3x
Mon, 20 Feb 2023US$1.4tUS$306.7bUS$41.4b25x34.9x4.7x
Wed, 18 Jan 2023US$1.4tUS$311.4bUS$45.0b25x31.6x4.6x
Price to Earnings Ratio

31.6x


Total Market Cap: US$1.4tTotal Earnings: US$45.0bTotal Revenue: US$311.4bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Real Estate Sector Price to Earnings3Y Average 49.1x202420252026
Current Industry PE
  • Investors are relatively neutral on the American Real Estate 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 PE ratio of 49.1x.
  • The industry is trading close to its 3-year average PS ratio of 4.5x.
Past Earnings Growth
  • The earnings for companies in the Real Estate industry have declined 10% per year over the last three years.
  • Meanwhile revenues for these companies have grown 2.3% 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 Market1.88%
Real Estate1.22%
Specialized REITs2.77%
Real Estate2.61%
Office REITs2.27%
Hotel and Resort REITs2.17%
REITS1.47%
Industrial REITs1.02%
Retail REITs0.88%
Health Care REITs0.061%
Residential REITs-1.91%
Industry PE
  • Investors are most optimistic about the Health Care REITs industry which is trading above its 3-year average PE ratio of 327x.
    • Analysts are expecting annual earnings growth of 28.4%, which is lower than the prior year's growth of 33.0% per year.
Forecasted Growth
  • Analysts are most optimistic on the Real Estate industry, expecting annual earnings growth of 30% over the next 5 years.
  • This is better than its past earnings growth rate of 16% per year.
  • In contrast, the Office REITs industry is expected to see its earnings decline by 14% 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
EQIX EquinixUS$800.354.7%
+US$3.6b		-11.1%PB5.6x
PSA Public StorageUS$278.157.6%
+US$3.5b		-3.8%PB9.8x
IRM Iron MountainUS$89.197.1%
+US$1.8b		-11.8%PE165.5x
EXR Extra Space StorageUS$139.206.3%
+US$1.7b		-5.2%PB2.2x
CBRE CBRE GroupUS$165.463.3%
+US$1.5b		33.8%PE39.5x

Latest News

COMP
US$12.84
Compass
7D
22.3%
1Y
140.0%
CSGP
US$58.49
CoStar Group
7D
-11.0%
1Y
-16.3%

CSGP: New Buyback And Reduced Rival Pressure Will Drive Future Upside

Analysts have trimmed their price targets on CoStar Group, reducing fair value estimates from about $91.94 to $84.82 as they factor in lower long term guidance, a slightly higher discount rate, slower projected revenue growth, and a lower future P/E multiple, partly offset by a modestly higher expected profit margin and the new $1.5b buyback plan. Analyst Commentary Recent research paints a mixed picture for CoStar Group, with analysts splitting between confidence in the long term and concern about execution risk and valuation after the updated 2026 and medium term outlook.
ELME
US$2.95
Elme Communities
7D
-83.2%
1Y
-79.4%
CBRE
US$165.46
CBRE Group
7D
3.3%
1Y
33.8%
IRM
US$89.19
Iron Mountain
7D
7.1%
1Y
-11.8%

IRM: Short Seller Accounting Allegations Will Drive Bearish Repricing Ahead

Analysts have lifted their Iron Mountain price target to US$123 from US$122, citing updated company modeling and confidence that recent short-seller concerns are already well understood and unlikely to alter the long term growth narrative. Analyst Commentary Recent research comments around Iron Mountain have centered on how much weight to place on the short report and what it means for long term execution and growth risks.
SBAC
US$181.20
SBA Communications
7D
-5.9%
1Y
-6.0%
DLR
US$158.55
Digital Realty Trust
7D
2.3%
1Y
-8.5%
EXR
US$139.20
Extra Space Storage
7D
6.3%
1Y
-5.2%
INVH
US$26.50
Invitation Homes
7D
-4.4%
1Y
-12.5%

INVH: Softer Near Term Rent Trends Will Set Up Stronger 2026 Demand

Analysts have trimmed their fair value estimate for Invitation Homes slightly to about $34.48, in line with recent Street price target cuts of US$3 at Oppenheimer and US$1 at Evercore ISI, as they factor in a more conservative near term outlook for rent, occupancy, and blended rate growth. Analyst Commentary Recent research updates point to a more cautious stance in the near term, even as analysts maintain generally constructive views on Invitation Homes over a longer horizon.
WY
US$25.73
Weyerhaeuser
7D
8.1%
1Y
-5.7%

WY: Biocarbon Venture And Buybacks Will Support Future Upside Potential

Analysts have nudged their price target for Weyerhaeuser slightly higher to approximately $29.82, reflecting marginally increased discount rate and future earnings multiple assumptions while maintaining broadly unchanged growth and margin expectations. What's in the News Entered a memorandum of understanding with Aymium and formed the TerraForge Biocarbon Solutions joint venture to produce and sell up to 1.5 million tons of sustainable biocarbon annually as a replacement for coal in metals production, leveraging Weyerhaeuser timberlands and Aymium technology (Key Developments).
VTR
US$74.90
Ventas
7D
-3.1%
1Y
30.5%
EQR
US$60.44
Equity Residential
7D
-2.6%
1Y
-9.8%
CCI
US$83.67
Crown Castle
7D
-5.7%
1Y
-0.8%

CCI: Tower-Only Pivot And Cost Cuts Will Drive Future Cash Flow

Analysts have modestly reduced their price target on Crown Castle by about $1 to roughly $113 per share, reflecting slightly lower fair value estimates along with expectations for higher discount rates, weaker revenue growth, and softer profit margins, even as they highlight operational improvements and the strategic benefits of a tower only focus. Analyst Commentary Street research points to a more balanced view on Crown Castle, with recent target cuts reflecting legal and macro risks while operational progress and the tower only pivot underpin a more constructive stance on the shares.
PSA
US$278.15
Public Storage
7D
7.6%
1Y
-3.8%

PSA Multiple Expansion Will Be Driven By Stronger Net Operating Income Trends

Analysts have trimmed their average price target for Public Storage to about $319 from roughly $326, citing slightly lower revenue growth assumptions, offset by modestly higher profit margins and improving net operating income trends that still support potential multiple expansion. Analyst Commentary Street research updates reflect a nuanced backdrop for Public Storage, with modestly revised price targets balancing improving fundamentals against macro and housing related headwinds.
AMT
US$168.51
American Tower
7D
-3.6%
1Y
-2.9%
EQIX
US$800.35
Equinix
7D
4.7%
1Y
-11.1%