Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

U.S. Office REITs Industry Analysis

UpdatedNov 11, 2025
DataAggregated Company Financials
Companies24
  • 7D0.4%
  • 3M-0.8%
  • 1Y-15.3%
  • YTDn/a

In the last week, the Office REITs industry is up 1.6%, with BXP up 3.9%. In the same time, Douglas Emmett was down 6.5%. However, the industry is down 14% over the past year. In the next few years, earnings are forecast to decline by 9.5% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 13 Nov 2025US$53.9bUS$16.4b-US$537,335,000.0035.6x-100.4x3.3x
Sat, 11 Oct 2025US$55.1bUS$16.2b-US$807,521,000.0035.3x-68.3x3.4x
Mon, 08 Sep 2025US$59.3bUS$16.2b-US$807,521,000.0038.6x-73.4x3.7x
Wed, 06 Aug 2025US$53.1bUS$16.3b-US$409,088,000.0034.6x-129.9x3.3x
Fri, 04 Jul 2025US$55.0bUS$16.3b-US$756,442,000.0049.6x-72.8x3.4x
Sun, 01 Jun 2025US$47.7bUS$16.3b-US$756,442,000.0045x-63.1x2.9x
Tue, 29 Apr 2025US$47.7bUS$15.6b-US$803,052,000.0065.5x-59.5x3.1x
Thu, 27 Mar 2025US$51.8bUS$15.7b-US$740,439,200.0069x-69.9x3.3x
Sat, 22 Feb 2025US$51.7bUS$15.2b-US$1,027,973,000.00109.8x-50.3x3.4x
Mon, 20 Jan 2025US$55.1bUS$15.7b-US$817,078,000.0028.1x-67.4x3.5x
Wed, 18 Dec 2024US$59.5bUS$15.7b-US$817,078,000.0030.7x-72.9x3.8x
Fri, 15 Nov 2024US$59.4bUS$15.7b-US$801,650,000.0042.6x-74.1x3.8x
Sun, 13 Oct 2024US$59.0bUS$15.8b-US$1,012,639,000.0074x-58.3x3.7x
Tue, 10 Sep 2024US$54.2bUS$15.8b-US$1,012,639,000.0070.1x-53.6x3.4x
Thu, 08 Aug 2024US$51.7bUS$15.8b-US$1,452,617,000.0063.7x-35.6x3.3x
Sat, 06 Jul 2024US$46.2bUS$15.8b-US$1,919,252,000.0047.6x-24.1x2.9x
Mon, 03 Jun 2024US$45.6bUS$15.6b-US$1,919,252,000.0048.5x-23.8x2.9x
Wed, 01 May 2024US$66.5bUS$18.5b-US$1,644,463,000.0051.1x-40.4x3.6x
Fri, 29 Mar 2024US$70.2bUS$18.5b-US$1,697,603,000.0053.9x-41.4x3.8x
Sun, 25 Feb 2024US$67.9bUS$18.2b-US$1,564,160,000.0039.3x-43.4x3.7x
Tue, 23 Jan 2024US$71.5bUS$17.8b-US$1,303,625,000.0040.7x-54.8x4x
Thu, 21 Dec 2023US$74.0bUS$17.8b-US$1,303,625,000.0041.1x-56.8x4.2x
Sat, 18 Nov 2023US$59.3bUS$17.8b-US$1,305,309,000.0034.3x-45.4x3.3x
Mon, 16 Oct 2023US$57.5bUS$18.1bUS$40.9m21.4x1407.5x3.2x
Wed, 13 Sep 2023US$66.6bUS$18.1bUS$40.9m25.2x1631.3x3.7x
Fri, 11 Aug 2023US$67.8bUS$18.1bUS$69.8m28.8x971.2x3.7x
Sun, 09 Jul 2023US$63.8bUS$18.0bUS$1.3b21x48.1x3.5x
Tue, 06 Jun 2023US$58.4bUS$18.0bUS$1.3b18.7x44x3.2x
Thu, 04 May 2023US$58.5bUS$18.1bUS$1.4b19.3x41.9x3.2x
Sat, 01 Apr 2023US$62.8bUS$18.1bUS$1.7b20.7x36.4x3.5x
Mon, 27 Feb 2023US$76.4bUS$18.0bUS$1.7b24.3x45.2x4.2x
Wed, 25 Jan 2023US$79.4bUS$17.8bUS$2.8b34.4x28.1x4.5x
Fri, 23 Dec 2022US$75.6bUS$17.8bUS$2.8b34x26.7x4.2x
Sun, 20 Nov 2022US$79.0bUS$17.8bUS$2.8b35.7x27.9x4.4x
Price to Earnings Ratio

27.9x


Total Market Cap: US$79.0bTotal Earnings: US$2.8bTotal Revenue: US$17.8bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Office REITs Industry Price to Earnings3Y Average 85.4x202320242025
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 3.6x.
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 2.8% per year, which is driving profits down.

Industry Comparison

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

US Market0.42%
Real Estate1.11%
REITS1.67%
Office REITs0.43%
Hotel and Resort REITs7.32%
Specialized REITs2.82%
Healthcare REITs2.11%
Diversified REITs1.67%
Retail REITs1.32%
Residential REITs0.41%
Industrial REITs-0.11%
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$71.653.3%
+US$366.0m		-9.7%PB2.3x
PKST Peakstone Realty TrustUS$14.428.6%
+US$41.9m		9.0%PB0.7x
CUZ Cousins PropertiesUS$26.120.9%
+US$40.3m		-15.5%PB0.9x
BDN Brandywine Realty TrustUS$3.475.8%
+US$33.0m		-33.5%PB0.7x
CDP COPT Defense PropertiesUS$29.071.0%
+US$31.6m		-6.5%PB2.2x

Latest News

KRC
US$42.25
Kilroy Realty
7D
-0.6%
1Y
5.8%

KRC: West Coast Office Recovery Will Face Leasing Challenges And Mixed Occupancy Trends

Kilroy Realty’s analyst price target has risen modestly from $42.00 to $42.73. This reflects analysts’ optimism around improving West Coast office demand and steady leasing progress, despite ongoing valuation concerns.
BXP
US$71.65
BXP
7D
3.3%
1Y
-9.7%

BXP: Future Demand In Gateway Office Markets Will Drive Performance Amid Asset Sales

The analyst price target for BXP has been modestly increased from $79.50 to $79.80. Analysts point to expectations for higher profit margins and continued demand for office properties in key gateway markets.
DEI
US$11.95
Douglas Emmett
7D
-2.3%
1Y
-33.9%
PKST
US$14.42
Peakstone Realty Trust
7D
8.6%
1Y
9.0%
HIW
US$29.03
Highwoods Properties
7D
0.9%
1Y
-9.8%
NLOP
US$29.88
Net Lease Office Properties
7D
1.4%
1Y
-4.9%
DEA
US$21.38
Easterly Government Properties
7D
-0.6%
1Y
-34.7%
HPP
US$2.15
Hudson Pacific Properties
7D
-10.8%
1Y
-48.9%
PSTL
US$15.59
Postal Realty Trust
7D
2.4%
1Y
8.5%
VNO
US$35.37
Vornado Realty Trust
7D
-0.5%
1Y
-15.9%
BDN
US$3.47
Brandywine Realty Trust
7D
5.8%
1Y
-33.5%
JBGS
US$17.98
JBG SMITH Properties
7D
-4.2%
1Y
14.8%
CDP
US$29.07
COPT Defense Properties
7D
1.0%
1Y
-6.5%
CUZ
US$26.12
Cousins Properties
7D
0.9%
1Y
-15.5%
ESRT
US$7.22
Empire State Realty Trust
7D
-1.0%
1Y
-31.9%
SLG
US$49.83
SL Green Realty
7D
-2.0%
1Y
-34.7%

Upcoming Manhattan Acquisition Will Drive Long-Term Gains Amid Market Uncertainty

Analysts have slightly reduced their price target for SL Green Realty, lowering it from approximately $63.28 to $62.05. This adjustment is based on updated forecasts for interest expenses and investment income, despite some positive operational trends.