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U.S. Office REITs Industry Analysis

UpdatedJul 25, 2025
DataAggregated Company Financials
Companies24
  • 7D0.6%
  • 3M9.5%
  • 1Y1.8%
  • YTDn/a

The Office REITs industry has been flat over the last week, but SL Green Realty has lost 3.2%. Furthermore, the industry has been flat for the past year as well. In the next few years, earnings are forecast to decline by 2.5% annually.

Industry Valuation and Performance

Has the U.S. Office REITs Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 25 Jul 2025US$56.2bUS$16.3b-US$894,885,000.0049x-62.8x3.4x
Sun, 22 Jun 2025US$56.6bUS$16.3b-US$756,442,000.0047.1x-74.8x3.5x
Tue, 20 May 2025US$52.7bUS$16.3b-US$756,442,000.0047.2x-69.7x3.2x
Thu, 17 Apr 2025US$46.8bUS$15.7b-US$740,439,200.0065.2x-63.2x3x
Sat, 15 Mar 2025US$48.3bUS$15.7b-US$783,117,200.0069.8x-61.7x3.1x
Mon, 10 Feb 2025US$55.0bUS$15.2b-US$860,062,000.0088.8x-64x3.6x
Wed, 08 Jan 2025US$54.9bUS$15.7b-US$817,078,000.0027.5x-67.2x3.5x
Fri, 06 Dec 2024US$60.6bUS$15.7b-US$817,078,000.0043.3x-74.2x3.9x
Sun, 03 Nov 2024US$58.7bUS$16.0b-US$638,731,000.0050.8x-92x3.7x
Tue, 01 Oct 2024US$58.5bUS$15.8b-US$1,012,639,000.0075.7x-57.8x3.7x
Thu, 29 Aug 2024US$55.3bUS$15.8b-US$1,012,639,000.0070x-54.6x3.5x
Sat, 27 Jul 2024US$50.8bUS$15.8b-US$1,512,603,000.0063.8x-33.6x3.2x
Mon, 24 Jun 2024US$45.7bUS$15.8b-US$1,919,252,000.0048.9x-23.8x2.9x
Wed, 22 May 2024US$68.0bUS$18.6b-US$1,732,377,000.0050.9x-39.3x3.7x
Fri, 19 Apr 2024US$64.7bUS$18.4b-US$1,663,428,000.0048.5x-38.9x3.5x
Sun, 17 Mar 2024US$68.2bUS$18.5b-US$1,715,022,000.0051.7x-39.7x3.7x
Tue, 13 Feb 2024US$68.5bUS$17.9b-US$1,908,775,000.0038.2x-35.9x3.8x
Thu, 11 Jan 2024US$73.1bUS$17.8b-US$1,303,625,000.0042.3x-56.1x4.1x
Sat, 09 Dec 2023US$69.3bUS$17.8b-US$1,303,625,000.0038.6x-53.2x3.9x
Mon, 06 Nov 2023US$60.5bUS$18.2b-US$1,198,149,000.0030.3x-50.5x3.3x
Wed, 04 Oct 2023US$59.7bUS$18.1bUS$40.9m20.6x1461.7x3.3x
Fri, 01 Sep 2023US$67.8bUS$18.1bUS$40.9m28.4x1658.6x3.8x
Sun, 30 Jul 2023US$68.1bUS$18.1bUS$797.8m24.8x85.4x3.8x
Tue, 27 Jun 2023US$60.9bUS$18.0bUS$1.3b19.3x45.9x3.4x
Thu, 25 May 2023US$56.9bUS$18.0bUS$1.3b19.1x42.8x3.2x
Sat, 22 Apr 2023US$60.0bUS$18.1bUS$1.7b19x36x3.3x
Mon, 20 Mar 2023US$43.4bUS$11.3bUS$1.8b18.8x24.2x3.8x
Wed, 15 Feb 2023US$83.5bUS$18.0bUS$2.2b24.2x38.4x4.6x
Fri, 13 Jan 2023US$80.2bUS$17.8bUS$2.8b35.5x28.4x4.5x
Sun, 11 Dec 2022US$76.8bUS$17.8bUS$2.8b34.5x27.2x4.3x
Tue, 08 Nov 2022US$78.3bUS$17.8bUS$2.8b36x27.6x4.4x
Thu, 06 Oct 2022US$76.4bUS$17.5bUS$2.8b26.6x27x4.4x
Sat, 03 Sep 2022US$84.9bUS$17.5bUS$2.8b30.9x30x4.9x
Mon, 01 Aug 2022US$96.2bUS$17.4bUS$2.6b34.2x36.7x5.5x
Price to Earnings Ratio

36.7x


Total Market Cap: US$96.2bTotal Earnings: US$2.6bTotal Revenue: US$17.4bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Office REITs Industry Price to Earnings3Y Average 95.8x202320242025
Current Industry PE
  • Investors are relatively neutral on the American Office REITs 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 PS ratio of 3.7x.
Past Earnings Growth
  • Total earnings for the Office REITs industry have declined over the last three years, with the industry now making a loss overall.
  • Revenues have also declined 2.1% per year, which is driving profits down.

Industry Comparison

How does U.S. Office REITs compare with similar industries?

US Market0.97%
Real Estate2.04%
REITS2.19%
Office REITs0.64%
Industrial REITs2.93%
Healthcare REITs2.49%
Diversified REITs2.19%
Retail REITs1.71%
Hotel and Resort REITs1.35%
Specialized REITs0.43%
Residential REITs0.065%
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
BXP BXPUS$70.742.5%
+US$270.7m
4.2%PB2.1x
VNO Vornado Realty TrustUS$39.553.2%
+US$234.2m
39.1%PB1.8x
JBGS JBG SMITH PropertiesUS$19.266.1%
+US$80.4m
17.2%PB0.9x
KRC Kilroy RealtyUS$37.241.4%
+US$61.5m
5.9%PB0.8x
CIO City Office REITUS$6.9023.7%
+US$53.3m
14.8%PB0.5x

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