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U.S. Residential REITs Industry Analysis

UpdatedJan 13, 2026
DataAggregated Company Financials
Companies20
  • 7D-1.4%
  • 3M-2.8%
  • 1Y-11.4%
  • YTD-2.5%

Over the last 7 days, the Residential REITs industry has dropped 1.2%, driven by a pullback from Elme Communities of 84%. Overall the industry is down 10% in 12 months. As for the next few years, earnings are forecast to decline by 7.2% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 13 Jan 2026US$175.4bUS$25.2bUS$5.0b28.5x35.3x6.9x
Thu, 11 Dec 2025US$172.7bUS$25.2bUS$5.0b28x34.8x6.8x
Sat, 08 Nov 2025US$172.8bUS$25.2bUS$5.0b29.3x34.2x6.8x
Mon, 06 Oct 2025US$182.9bUS$25.0bUS$4.9b32.3x37.3x7.3x
Wed, 03 Sep 2025US$191.1bUS$25.0bUS$4.9b31.4x39x7.7x
Fri, 01 Aug 2025US$188.7bUS$24.8bUS$5.0b33.4x37.9x7.6x
Sun, 29 Jun 2025US$189.1bUS$24.7bUS$4.8b37.8x39.6x7.6x
Tue, 27 May 2025US$193.9bUS$24.7bUS$4.8b38.7x40.6x7.8x
Thu, 24 Apr 2025US$199.3bUS$24.5bUS$4.8b45.9x41.6x8.1x
Sat, 22 Mar 2025US$206.9bUS$24.5bUS$4.8b45.8x43.1x8.4x
Mon, 17 Feb 2025US$202.5bUS$24.5bUS$4.8b37.1x42.6x8.3x
Wed, 15 Jan 2025US$198.3bUS$24.3bUS$4.6b34.5x43.3x8.2x
Fri, 13 Dec 2024US$208.8bUS$24.3bUS$4.6b36.7x45.6x8.6x
Sun, 10 Nov 2024US$212.1bUS$24.3bUS$4.6b37.7x46.3x8.7x
Tue, 08 Oct 2024US$208.7bUS$24.1bUS$4.3b35.7x48.9x8.7x
Thu, 05 Sep 2024US$216.3bUS$24.1bUS$4.3b37.9x50.7x9x
Sat, 03 Aug 2024US$202.8bUS$24.1bUS$4.3b36.7x46.8x8.4x
Mon, 01 Jul 2024US$196.4bUS$23.9bUS$4.6b30.8x42.9x8.2x
Wed, 29 May 2024US$193.0bUS$24.7bUS$5.2b28.2x37x7.8x
Fri, 26 Apr 2024US$189.3bUS$24.5bUS$5.0b28.5x37.9x7.7x
Sun, 24 Mar 2024US$187.7bUS$24.5bUS$4.9b28x38.6x7.7x
Tue, 20 Feb 2024US$182.9bUS$24.4bUS$5.3b27.4x34.7x7.5x
Thu, 18 Jan 2024US$186.0bUS$24.3bUS$5.5b33.6x34x7.7x
Sat, 16 Dec 2023US$190.6bUS$24.3bUS$5.5b34.2x34.8x7.8x
Mon, 13 Nov 2023US$171.0bUS$24.3bUS$5.5b30.5x31.2x7x
Wed, 11 Oct 2023US$177.9bUS$24.1bUS$5.3b31.3x33.8x7.4x
Fri, 08 Sep 2023US$188.9bUS$24.1bUS$5.3b33.2x35.9x7.9x
Sun, 06 Aug 2023US$195.3bUS$24.1bUS$5.5b29.8x35.5x8.1x
Tue, 04 Jul 2023US$198.9bUS$23.7bUS$5.6b29.5x35.7x8.4x
Thu, 01 Jun 2023US$186.5bUS$23.7bUS$5.6b27.8x33.5x7.9x
Sat, 29 Apr 2023US$192.8bUS$23.5bUS$5.9b28.1x32.9x8.2x
Price to Earnings Ratio

31.9x


Total Market Cap: US$185.7bTotal Earnings: US$5.8bTotal Revenue: US$23.0bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Residential REITs Industry Price to Earnings3Y Average 39x202420252026
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 35.3x which is lower than its 3-year average PE of 39.0x.
  • The 3-year average PS ratio of 7.9x is higher than the industry's current PS ratio of 6.9x.
Past Earnings Growth
  • The earnings for companies in the Residential REITs industry have declined 5.2% per year over the last three years.
  • Meanwhile revenues for these companies have grown 3.1% 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 industry?

US Market0.88%
Real Estate0.89%
Residential REITs-1.44%
Single-Family Residential REITs-0.044%
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
SUI Sun CommunitiesUS$124.092.4%
+US$364.8m		1.5%PB2.2x
ELS Equity LifeStyle PropertiesUS$60.942.8%
+US$317.9m		-6.3%PB6.7x
NXRT NexPoint Residential TrustUS$30.674.0%
+US$30.2m		-19.7%PB2.4x
UDR UDRUS$36.200.2%
+US$26.4m		-11.7%PB3.7x
VRE Veris ResidentialUS$14.721.0%
+US$14.0m		-6.9%PB1.2x

Latest News

CPT
US$107.38
Camden Property Trust
7D
-1.6%
1Y
-3.8%
ELME
US$2.87
Elme Communities
7D
-83.6%
1Y
-80.2%

ELME: Liquidation Plan And $14.67 Distribution Will Drive Future Cash Returns

Analysts have maintained their fair value estimate for Elme Communities at $18.00. They cite a higher discount rate of 10.73%, slightly stronger profit margin assumptions at 17.23%, and a very high forward P/E of about 252x as key factors behind the unchanged price target.
ESS
US$250.09
Essex Property Trust
7D
-1.2%
1Y
-11.6%

ESS: Coastal Apartment Turnaround And REIT Upswing Will Support Long-Term Cash Flows

Narrative Update The analyst price target for Essex Property Trust has edged slightly lower to about $280. This reflects modest adjustments to fair value inputs and ongoing analyst concerns about moderated funds from operations growth and regional headwinds in Los Angeles.
AVB
US$178.39
AvalonBay Communities
7D
-1.0%
1Y
-17.3%

AVB: Share Repurchases And 2026 REIT Turnaround Expectations Will Support Returns

Analysts have trimmed their price targets on AvalonBay Communities by a few dollars, with recent cuts to about $190 to $197 reflecting softer leasing trends and higher operating expenses, even as they continue to highlight the potential for REITs to benefit from improving macro conditions into 2026. Analyst Commentary Recent research updates on AvalonBay Communities point to a mixed setup, with modestly lower price targets clustered around the low to high $190s and a consistent message of Neutral or similar ratings.
EQR
US$60.26
Equity Residential
7D
-1.1%
1Y
-12.9%

EQR: Coastal Apartment Turnaround And Buybacks Will Support Future Upside

Our updated analyst price target for Equity Residential edges up from about US$70.28 to US$70.33, as analysts weigh mixed research views that highlight softening coastal fundamentals alongside expectations for a potential turnaround in REITs and relatively stable assumptions around growth, margins, and future P/E. Analyst Commentary Recent research on Equity Residential points to a split view, with some analysts focusing on potential upside in a broader REIT recovery, while others highlight pressure in core coastal markets and trim expectations accordingly.
MAA
US$134.23
Mid-America Apartment Communities
7D
-2.3%
1Y
-10.6%

MAA: Sunbelt Supply Moderation And Dividend Reliability Will Shape 2026 Prospects

Analysts have made a small upward adjustment to fair value for Mid-America Apartment Communities to about $147.76, reflecting mixed price target moves that balance softer near term fundamentals with expected moderation in Sunbelt supply and potential macro catalysts into 2026. Analyst Commentary Recent research updates on Mid-America Apartment Communities reflect a mix of optimism around 2026 fundamentals and caution around near term execution and fund flows, with price targets clustered around the mid to high US$130s to US$160 range.
UDR
US$36.20
UDR
7D
0.2%
1Y
-11.7%

UDR: Softer Apartment Fundamentals Will Test Recovery As Portfolios Support Stability

Analysts have trimmed their price target on UDR by about US$0.18 to roughly US$40.25. They cite recent target cuts from several firms and more cautious earnings assumptions as apartment fundamentals soften and capital flows favor other sectors.
NXRT
US$30.67
NexPoint Residential Trust
7D
4.0%
1Y
-19.7%

NXRT: Dividend Growth And Buybacks Will Support Balanced Return Outlook

Analysts have modestly adjusted their price target on NexPoint Residential Trust, citing slight refinements to discount rate, profit margin, and forward P/E assumptions. Taken together, these changes suggest a broadly unchanged fair value of about $33.67 per share.
AMH
US$31.01
American Homes 4 Rent
7D
-1.6%
1Y
-12.5%

AMH: Healthy REIT Conditions Will Support Shares Despite Softer Rental Demand

Analysts have trimmed their price target on American Homes 4 Rent by about $0.35 to roughly $37.55, citing slightly more conservative assumptions around discount rates, growth, and future P/E. This comes even as sector research points to generally healthy REIT fundamentals and a cautious view on single family rental demand and occupancy trends.
INVH
US$26.64
Invitation Homes
7D
-3.0%
1Y
-13.9%

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.
CLPR
US$3.64
Clipper Realty
7D
1.1%
1Y
-7.4%
BRT
US$14.79
BRT Apartments
7D
1.6%
1Y
-13.1%
SUI
US$124.09
Sun Communities
7D
2.4%
1Y
1.5%
VRE
US$14.72
Veris Residential
7D
1.0%
1Y
-6.9%
CSR
US$65.84
Centerspace
7D
0.8%
1Y
8.3%
ELS
US$60.94
Equity LifeStyle Properties
7D
2.8%
1Y
-6.3%