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U.S. Residential REITs Industry Analysis

UpdatedMay 29, 2026
DataAggregated Company Financials
Companies13
  • 7D0.7%
  • 3M3.0%
  • 1Y-9.4%
  • YTDn/a

The Residential REITs industry has stayed flat over the last week. Unfortunately though, the industry is down 9.4% over the past 12 months. Looking forward, earnings are forecast to decline by 12% per year.

Latest News

AVB
US$184.83
AvalonBay Communities
7D
0.4%
1Y
-10.3%
EQR
US$66.26
Equity Residential
7D
0.8%
1Y
-5.3%
Seeking Alpha • May 26

Equity Residential / AvalonBay Merger Is Not A Game Changer

Summary Equity Residential (EQR) and AvalonBay Communities (AVB) announced a merger of equals, creating the largest public apartment REIT by units. The deal offers minimal premium, neutral FFO impact, and targets $125M in synergies, though actual savings are likely far lower. Both companies focus on high-end, legacy coastal markets with strong balance sheets and similar philosophies, limiting transformative potential. I maintain a 'hold' rating for both EQR and AVB, as the merger is unlikely to drive significant outperformance or upside. Read the full article on Seeking Alpha
CSR
US$67.69
Centerspace
7D
0.4%
1Y
7.4%
Seeking Alpha • May 23

Centerspace: Attractive Valuation After A Weak Start To 2026

Summary Centerspace shares have lagged U.S. REIT peers in early 2026, pressured by weak Q1 2026 results and broad-based weakness in multifamily valuations as a result of higher rates. CSR is undergoing a strategic review, with a potential outcome to be communicated alongside Q2 2026 results. CSR offers a 7% market-implied capitalization rate and a staggered debt maturity with below-market rates, making it an interesting acquisition target. Even if CSR remains a standalone company, the low Core FFO multiple points to an attractive entry point in light of an overall modest company leverage. No material outcome of the strategic review, further declines in occupancy and net operating income, as well as sizable 2028 maturities are key risks in the investment case. Read the full article on Seeking Alpha
CPT
US$108.02
Camden Property Trust
7D
1.7%
1Y
-7.6%
Seeking Alpha • May 23

Camden Property Trust: An Investment-Grade Apartment REIT Betting On Sunbelt Growth

Summary Camden Property Trust is rated a hold, driven by Sunbelt exposure, robust migration trends, and proven top-line growth. CPT maintains high occupancy rates (~95%), ongoing portfolio expansion, and a history of revenue growth, despite recent Q1 earnings misses and some downgrades. Balance sheet strength is underscored by investment-grade ratings, modest leverage, geographic diversification, and positive operating cash flow growth. Dividend coverage appears solid, and CPT trades at a valuation that may offer long-term upside despite near-term NOI softness and mixed peer performance. Chart technicals have not yet confirmed a bullish trend but more of a neutral or speculative pattern. Read the full article on Seeking Alpha
MAA
US$130.82
Mid-America Apartment Communities
7D
0.6%
1Y
-16.0%
ESS
US$276.44
Essex Property Trust
7D
1.0%
1Y
-2.0%
IRT
US$16.44
Independence Realty Trust
7D
-2.1%
1Y
-10.8%
Narrative Update • May 21

IRT: Dividend Increase And Buyback Activity Will Support Upside Potential

Analysts now place Independence Realty Trust's price target near $19.07, compared with about $18.96 previously. This reflects updated views on fair value, discount rate, revenue growth, profit margin and future P/E assumptions.
NXRT
US$29.62
NexPoint Residential Trust
7D
0.4%
1Y
-13.5%
Seeking Alpha • May 18

NexPoint Residential Trust: Cheap On Paper But Headwinds Exist

Summary NexPoint Residential Trust pays a well-covered dividend of 7.5%, with a consistent track record of increasing its dividends. NXRT is trading at a significant discount to NAV estimates. However, leverage remains high and rising interest expense is a drag on earnings. Read the full article on Seeking Alpha
UDR
US$37.88
UDR
7D
1.0%
1Y
-8.3%
ELME
US$2.01
Elme Communities
7D
-0.5%
1Y
-87.4%
Narrative Update • Feb 26

ELME: Liquidation Distributions Will Deliver Attractive Cash Returns Despite Lower Sale Proceeds

Analysts have modestly revised their price view on Elme Communities, keeping the fair value estimate around $18.00 while adjusting underlying assumptions such as the discount rate, profit margin, and future P/E to reflect updated expectations for risk and earnings quality. What's in the News Elme Communities updated its estimate for total liquidating distributions to a range of US$17.02 to US$17.47 per common share, including the initial US$14.67 per share distribution paid in January 2026.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 29 May 2026US$118.1bUS$15.4bUS$3.7b29.8x31.5x7.7x
Sun, 26 Apr 2026US$112.1bUS$15.6bUS$3.9b27.8x28.4x7.2x
Tue, 24 Mar 2026US$106.9bUS$15.6bUS$3.9b26.9x27.1x6.9x
Thu, 19 Feb 2026US$116.7bUS$15.6bUS$3.8b29.3x30.4x7.5x
Sat, 17 Jan 2026US$117.0bUS$15.6bUS$3.9b29.1x29.9x7.5x
Mon, 15 Dec 2025US$116.3bUS$15.6bUS$3.9b28x29.7x7.4x
Wed, 12 Nov 2025US$114.7bUS$15.6bUS$3.9b27.9x29.3x7.3x
Fri, 10 Oct 2025US$119.4bUS$15.4bUS$3.7b27.8x32.7x7.7x
Sun, 07 Sep 2025US$125.2bUS$15.4bUS$3.7b30x34.3x8.1x
Tue, 05 Aug 2025US$120.7bUS$15.4bUS$3.6b28.9x33.4x7.8x
Thu, 03 Jul 2025US$129.6bUS$15.3bUS$3.4b31.1x37.8x8.5x
Sat, 31 May 2025US$132.5bUS$15.3bUS$3.4b32.6x38.7x8.6x
Mon, 28 Apr 2025US$132.3bUS$15.2bUS$3.5b55.8x37.9x8.7x
Wed, 26 Mar 2025US$139.8bUS$15.2bUS$3.5b57.9x40x9.2x
Fri, 21 Feb 2025US$137.3bUS$15.2bUS$3.4b32.3x40.8x9x
Sun, 19 Jan 2025US$133.9bUS$15.0bUS$3.2b33.1x42x8.9x
Tue, 17 Dec 2024US$141.5bUS$15.0bUS$3.2b35x44.3x9.4x
Thu, 14 Nov 2024US$142.4bUS$15.0bUS$3.2b35.9x44.6x9.5x
Sat, 12 Oct 2024US$137.0bUS$14.9bUS$3.0b35x45.3x9.2x
Mon, 09 Sep 2024US$140.8bUS$14.9bUS$3.0b36.3x46.5x9.4x
Wed, 07 Aug 2024US$130.1bUS$14.9bUS$3.1b34.5x42x8.7x
Fri, 05 Jul 2024US$126.8bUS$14.8bUS$3.6b29.4x35.7x8.6x
Sun, 02 Jun 2024US$127.7bUS$15.6bUS$4.2b28.1x30.5x8.2x
Tue, 30 Apr 2024US$125.4bUS$15.5bUS$4.0b27.7x31.2x8.1x
Thu, 28 Mar 2024US$121.2bUS$15.5bUS$3.9b27.8x31.2x7.8x
Sat, 24 Feb 2024US$116.2bUS$15.4bUS$3.9b26.8x29.9x7.5x
Mon, 22 Jan 2024US$132.9bUS$17.2bUS$4.0b28.7x33.3x7.7x
Wed, 20 Dec 2023US$134.8bUS$17.2bUS$4.0b30x33.7x7.8x
Fri, 17 Nov 2023US$121.2bUS$17.2bUS$4.0b26.1x30.3x7x
Sun, 15 Oct 2023US$128.5bUS$17.1bUS$3.9b26.9x33.2x7.5x
Tue, 12 Sep 2023US$133.8bUS$17.1bUS$3.9b28.6x34.6x7.8x
Thu, 10 Aug 2023US$139.9bUS$17.1bUS$3.9b29.4x36.2x8.2x
Sat, 08 Jul 2023US$142.8bUS$16.8bUS$4.3b27.3x33.3x8.5x
Mon, 05 Jun 2023US$138.6bUS$16.8bUS$4.3b26.4x32.3x8.3x
Price to Earnings Ratio

32.3x


Total Market Cap: US$138.6bTotal Earnings: US$4.3bTotal Revenue: US$16.8bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Residential REITs Industry Price to Earnings3Y Average 35.2x202420252026
Current Industry PE
  • Investors are pessimistic on the American Residential 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 31.5x which is lower than its 3-year average PE of 35.2x.
  • The industry is trading close to its 3-year average PS ratio of 8.2x.
Past Earnings Growth
  • The earnings for companies in the Residential REITs industry have declined 4.4% per year over the last three years,
  • Revenues have also declined 2.9% per year.
  • This means overall sales from these companies are declining and profits are subsequently falling as well.

Industry Comparison

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

US Market1.83%
Real Estate-0.048%
REITS-0.40%
Residential REITs0.70%
Hotel and Resort REITs3.69%
Office REITs2.47%
Industrial REITs1.22%
Retail REITs0.34%
Diversified REITs-0.40%
Specialized REITs-0.43%
Healthcare REITs-1.92%
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
CPT Camden Property TrustUS$108.021.7%
+US$189.7m		-7.6%PB2.7x
EQR Equity ResidentialUS$66.260.8%
+US$187.4m		-5.3%PB2.3x
ESS Essex Property TrustUS$276.441.0%
+US$169.7m		-2.0%PB3.3x
UDR UDRUS$37.881.0%
+US$120.2m		-8.3%PB3.8x
AVB AvalonBay CommunitiesUS$184.830.4%
+US$102.0m		-10.3%PB2.3x