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U.S. REITS Industry Analysis

UpdatedMar 21, 2026
DataAggregated Company Financials
Companies20
  • 7D-3.5%
  • 3M2.7%
  • 1Y1.6%
  • YTD2.2%

Over the last 7 days, the REITS industry has dropped 3.5%, driven by W. P. Carey declining 5.5%. As for the longer term, the industry's performance has been flat for the past year. Earnings are forecast to grow by 12% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 21 Mar 2026US$39.4bUS$6.9b-US$85,923,385.0029.5x-458.7x5.7x
Mon, 16 Feb 2026US$42.7bUS$7.6b-US$142,922,402.0030.7x-299.1x5.6x
Wed, 14 Jan 2026US$33.7bUS$7.5b-US$252,955,402.0031.3x-133.4x4.5x
Fri, 12 Dec 2025US$33.6bUS$6.0bUS$422.0m32.8x79.6x5.6x
Sun, 09 Nov 2025US$33.5bUS$6.0bUS$436.3m28.9x76.9x5.6x
Tue, 07 Oct 2025US$34.3bUS$6.1bUS$423.7m31.7x81.1x5.7x
Thu, 04 Sep 2025US$34.2bUS$6.1bUS$468.9m30.1x73x5.6x
Sat, 02 Aug 2025US$33.2bUS$6.4bUS$483.7m23.6x68.6x5.2x
Mon, 30 Jun 2025US$33.1bUS$6.3bUS$598.5m27.5x55.3x5.3x
Wed, 28 May 2025US$32.9bUS$6.3bUS$598.1m25.6x55x5.2x
Fri, 25 Apr 2025US$34.9bUS$7.1bUS$754.4m25.2x46.3x4.9x
Sun, 23 Mar 2025US$35.4bUS$7.0bUS$871.7m28.2x40.6x5.1x
Tue, 18 Feb 2025US$35.4bUS$7.0bUS$779.1m27.9x45.4x5.1x
Thu, 16 Jan 2025US$34.2bUS$7.0bUS$878.8m25.7x38.9x4.9x
Sat, 14 Dec 2024US$36.8bUS$7.0bUS$878.8m29.1x41.9x5.3x
Mon, 11 Nov 2024US$37.5bUS$7.1bUS$764.7m29.4x49x5.3x
Wed, 09 Oct 2024US$37.9bUS$7.0bUS$630.8m25.6x60x5.4x
Fri, 06 Sep 2024US$37.8bUS$6.8bUS$565.4m29.4x66.8x5.5x
Sun, 04 Aug 2024US$36.0bUS$6.8bUS$643.8m27x55.8x5.3x
Tue, 02 Jul 2024US$33.5bUS$6.8bUS$676.6m24.8x49.5x4.9x
Thu, 30 May 2024US$33.1bUS$6.9bUS$664.0m23.3x49.8x4.8x
Sat, 27 Apr 2024US$32.4bUS$6.7bUS$827.0m22.9x39.2x4.8x
Mon, 25 Mar 2024US$32.9bUS$6.5bUS$903.8m25.4x36.5x5.1x
Wed, 21 Feb 2024US$32.9bUS$6.3bUS$988.2m26.5x33.3x5.2x
Fri, 19 Jan 2024US$85.1bUS$21.2bUS$876.1m24.6x97.2x4x
Sun, 17 Dec 2023US$85.8bUS$21.3bUS$878.5m28.2x97.6x4x
Tue, 14 Nov 2023US$80.2bUS$21.3bUS$873.6m24.6x91.9x3.8x
Thu, 12 Oct 2023US$80.4bUS$21.1bUS$1.0b21.7x78.7x3.8x
Sat, 09 Sep 2023US$82.9bUS$21.1bUS$1.0b23.4x81.1x3.9x
Mon, 07 Aug 2023US$84.0bUS$21.1bUS$1.2b21.3x72.7x4x
Wed, 05 Jul 2023US$148.7bUS$20.9bUS$1.2b22.4x126.4x7.1x
Fri, 02 Jun 2023US$81.6bUS$12.2bUS$2.6b19.6x31.1x6.7x
Sun, 30 Apr 2023US$83.4bUS$12.3bUS$2.6b20.6x31.6x6.8x
Tue, 28 Mar 2023US$85.5bUS$12.2bUS$2.7b25.7x32.1x7x
Price to Earnings Ratio

32.1x


Total Market Cap: US$85.5bTotal Earnings: US$2.7bTotal Revenue: US$12.2bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. REITS Industry Price to Earnings3Y Average 3.3x202420252026
Current Industry PE
  • Investors are optimistic on the American REITs industry, and appear confident in long term growth rates.
  • The 3-year average PS ratio of 5.1x is lower than the industry's current PS ratio of 5.7x.
Past Earnings Growth
  • Total earnings for the REITs industry have declined over the last three years, with the industry now making a loss overall.
  • Revenues have also declined 17% per year, which is driving profits down.

Industry Trends

Which industries have driven the changes within the U.S. Real Estate industry?

US Market-1.86%
Real Estate-3.76%
REITS-3.53%
Hotel and Resort REITs0.28%
Office REITs-1.74%
Industrial REITs-2.82%
Retail REITs-3.04%
Diversified REITs-3.53%
Residential REITs-3.77%
Specialized REITs-5.11%
Healthcare REITs-5.35%
Industry PE
  • Investors are most optimistic about the Healthcare REITs industry which is trading above its 3-year average PE ratio of 345x.
    • Analysts are expecting annual earnings growth of 27.7%, which is higher than its past year's earnings growth of 12.9% per year.
Forecasted Growth
  • Analysts are most optimistic on the Healthcare REITs industry, expecting annual earnings growth of 28% over the next 5 years.
  • This is better than its past earnings growth rate of 13% per year.
  • In contrast, the Office REITs industry is expected to see its earnings decline by 17% 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
AHRT AH REALTY TRUSTUS$5.714.4%
+US$19.2m		-25.7%PB1x
MKZR MacKenzie Realty CapitalUS$3.965.3%
+US$393.3k		-75.9%PB0.2x

Latest News

BNL
US$18.64
Broadstone Net Lease
7D
-3.5%
1Y
10.6%

BNL: Updated Return Assumptions And Development Pipeline Will Shape Balanced Outlook

Analysts have lifted their price target on Broadstone Net Lease from $19 to $20, reflecting updated assumptions around fair value, discount rate, revenue growth, profit margin, and future P/E that are broadly consistent with recent Street research. Analyst Commentary Analysts interpret the move to a US$20 price target as a fine tuning of expectations rather than a major reset, with views split between cautious optimism and a focus on execution risks.
EPRT
US$31.71
Essential Properties Realty Trust
7D
-3.7%
1Y
-0.06%

EPRT: Low Cost Capital And Forward Equity Will Support Future Acquisition Pipeline

Essential Properties Realty Trust's updated analyst price target has moved by $0.60 to $37.00 per share, with analysts pointing to factors such as low cost of capital, wide investment spreads, available growth capital and a diversified tenant base as key reasons for their refreshed views. Analyst Commentary Recent research updates show a cluster of higher price targets for Essential Properties Realty Trust, generally centered around the mid to high $30s, with one target at $40.
GOOD
US$11.70
Gladstone Commercial
7D
-2.9%
1Y
-20.6%
WPC
US$67.55
W. P. Carey
7D
-5.5%
1Y
9.9%
GNL
US$9.22
Global Net Lease
7D
-1.8%
1Y
17.8%

GNL: Balance Sheet Progress And Dispositions Will Guide Future Risk Reward Balance

Narrative Update on Global Net Lease Analysts have lifted their price target on Global Net Lease to $10 from $9, citing quicker than expected balance sheet strengthening, lower leverage into 2025, and the use of asset sales to scale the business and repurchase shares. Analyst Commentary Recent research has highlighted both supportive and cautious views around Global Net Lease, with the current price target reset to US$10 helping frame how analysts see the balance between risk and reward.
AAT
US$18.33
American Assets Trust
7D
-2.4%
1Y
-9.5%

AAT: Peak Occupancy And Sector Reset Will Likely Cap Near Term Upside

Narrative Update on American Assets Trust Analysts trimmed their price target on American Assets Trust by $2 to $19, citing a sector-wide reset in expectations for shopping center REITs, as occupancy levels are viewed as close to all-time highs and fundamentals are seen as peaking. Analyst Commentary Recent research on American Assets Trust has centered on valuation reset and sector positioning, rather than company specific execution issues.
AHRT
US$5.71
AH REALTY TRUST
7D
4.4%
1Y
-25.7%
MKZR
US$3.96
MacKenzie Realty Capital
7D
5.3%
1Y
-75.9%
NXDT
US$4.00
NexPoint Diversified Real Estate Trust
7D
-10.3%
1Y
0.3%
CTO
US$18.34
CTO Realty Growth
7D
-2.0%
1Y
-2.9%