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U.S. Residential REITs Industry Analysis

UpdatedApr 28, 2026
DataAggregated Company Financials
Companies20
  • 7D-2.1%
  • 3M-1.7%
  • 1Y-13.2%
  • YTD-3.1%

Over the last 7 days, the Residential REITs industry has dropped 1.9%, driven by a pullback from Equity LifeStyle Properties of 4.9%. However, the industry is down 13% over the past year. In the next few years, earnings are forecast to decline by 7.4% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 28 Apr 2026US$171.6bUS$24.3bUS$5.3b27.8x32.5x7.1x
Thu, 26 Mar 2026US$164.7bUS$24.3bUS$5.3b26.7x31.2x6.8x
Sat, 21 Feb 2026US$176.9bUS$25.3bUS$4.9b29.4x36.1x7x
Mon, 19 Jan 2026US$179.8bUS$25.2bUS$5.0b29.1x36.2x7.1x
Wed, 17 Dec 2025US$176.3bUS$25.2bUS$5.0b28.2x35.5x7x
Fri, 14 Nov 2025US$176.5bUS$25.2bUS$5.0b29.6x35.5x7x
Sun, 12 Oct 2025US$178.7bUS$25.0bUS$4.9b31.5x36.5x7.2x
Tue, 09 Sep 2025US$190.6bUS$25.0bUS$4.9b32.4x38.9x7.6x
Thu, 07 Aug 2025US$185.9bUS$25.0bUS$4.9b32.3x38.3x7.4x
Sat, 05 Jul 2025US$195.7bUS$24.7bUS$4.8b37.5x41x7.9x
Mon, 02 Jun 2025US$200.1bUS$24.7bUS$4.8b39.3x41.9x8.1x
Wed, 30 Apr 2025US$200.4bUS$24.5bUS$4.8b40.3x42.1x8.2x
Fri, 28 Mar 2025US$208.9bUS$24.5bUS$4.8b46.2x43.5x8.5x
Sun, 23 Feb 2025US$204.0bUS$24.5bUS$4.8b37x42.9x8.3x
Tue, 21 Jan 2025US$199.3bUS$24.3bUS$4.6b34.9x43.5x8.2x
Thu, 19 Dec 2024US$207.5bUS$24.3bUS$4.6b35.1x45.3x8.5x
Sat, 16 Nov 2024US$210.5bUS$24.3bUS$4.6b37.2x46x8.7x
Mon, 14 Oct 2024US$206.4bUS$24.1bUS$4.3b35.7x48.4x8.6x
Wed, 11 Sep 2024US$214.8bUS$24.1bUS$4.3b39.3x50.4x8.9x
Fri, 09 Aug 2024US$202.3bUS$24.1bUS$4.3b36.2x47.3x8.4x
Sun, 07 Jul 2024US$194.3bUS$23.9bUS$4.6b30.3x42.4x8.1x
Tue, 04 Jun 2024US$192.7bUS$24.7bUS$5.2b28.6x36.9x7.8x
Thu, 02 May 2024US$188.2bUS$24.7bUS$5.1b27.9x36.6x7.6x
Sat, 30 Mar 2024US$190.0bUS$24.5bUS$4.9b28.4x39.1x7.8x
Mon, 26 Feb 2024US$182.3bUS$24.4bUS$4.9b26.9x37.6x7.5x
Wed, 24 Jan 2024US$188.5bUS$24.3bUS$5.5b33.3x34.4x7.8x
Fri, 22 Dec 2023US$188.2bUS$24.3bUS$5.5b34x34.4x7.7x
Sun, 19 Nov 2023US$175.3bUS$24.3bUS$5.5b31x32x7.2x
Tue, 17 Oct 2023US$178.2bUS$24.1bUS$5.3b31.6x33.9x7.4x
Thu, 14 Sep 2023US$186.8bUS$24.1bUS$5.3b32.8x35.5x7.8x
Sat, 12 Aug 2023US$195.3bUS$24.1bUS$5.3b33.8x37.2x8.1x
Mon, 10 Jul 2023US$197.9bUS$23.7bUS$5.6b29.5x35.5x8.4x
Wed, 07 Jun 2023US$193.9bUS$23.7bUS$5.6b29.6x34.8x8.2x
Fri, 05 May 2023US$189.7bUS$23.6bUS$5.5b27.3x34.2x8x
Price to Earnings Ratio

34.2x


Total Market Cap: US$189.7bTotal Earnings: US$5.5bTotal Revenue: US$23.6bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Residential REITs Industry Price to Earnings3Y Average 38.7x202420252026
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 32.5x which is lower than its 3-year average PE of 38.7x.
  • The industry is trading close to its 3-year average PS ratio of 7.8x.
Past Earnings Growth
  • Both revenue and earnings for companies in the Residential REITs industry have remained mostly flat over the last three years.
  • This means that sales and the cost of doing business have remained relatively consistent over this period and subsequently, so have profits.

Industry Trends

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

US Market0.72%
Real Estate-2.08%
Residential REITs-2.11%
Single-Family Residential REITs-2.43%
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
VRE Veris ResidentialUS$18.920.1%
+US$9.1m		22.4%PB1.6x
ELME Elme CommunitiesUS$2.160.5%
+US$888.6k		-86.2%PB0.2x
CLPR Clipper RealtyUS$3.361.2%
+US$645.9k		-7.2%PS0.4x

Latest News

EQR
US$62.32
Equity Residential
7D
-1.8%
1Y
-10.1%

EQR: Coastal Portfolio And Buybacks Will Support Future Dividend And EPS Execution

Analysts have made a modest adjustment to their outlook on Equity Residential, trimming the blended price target by a small amount to around $70. This change reflects refreshed models that incorporate updated earnings guidance, sector wide estimate changes, and revised assumptions around growth, profitability, and future P/E levels.
AVB
US$174.28
AvalonBay Communities
7D
-1.2%
1Y
-16.1%

AVB: 2026 Buybacks And Dividend Increases Will Support Leasing Recovery Potential

Narrative Update on AvalonBay Communities The analyst price target for AvalonBay Communities has shifted modestly lower, with the updated fair value moving from about $194.35 to $193.55 as analysts adjust models for near term earnings, sector wide residential REIT estimate changes, and softer occupancy commentary across U.S. multifamily markets. Analyst Commentary Recent research around AvalonBay Communities highlights a mix of caution on near term fundamentals and continued support for the longer term apartment REIT thesis.
VRE
US$18.92
Veris Residential
7D
0.1%
1Y
22.4%

VRE: Future Returns Will Reflect Take Private Deal And Bylaw Litigation Risks

Analysts have raised their price target on Veris Residential from $19.00 to $19.75, citing updated assumptions for revenue growth, profit margins, the discount rate, and the future P/E, which they view as better reflecting the company’s current risk and return profile. What's in the News Veris Residential agreed to be taken private in an all cash transaction valued at US$3.4b including debt by a consortium led by Affinius Capital and Vista Hill Partners.
MAA
US$125.39
Mid-America Apartment Communities
7D
-3.2%
1Y
-21.8%

MAA: Slowing New Supply And 2026 Earnings Guidance Will Support Upside

Analysts have trimmed the price target on Mid-America Apartment Communities by about $1 to $142. The change reflects updated expectations for slightly softer revenue growth, profit margins and a modestly higher future P/E, along with sector wide pressures such as weaker national job growth, elevated new apartment supply and generally lower multifamily occupancy levels.
ELS
US$62.77
Equity LifeStyle Properties
7D
-4.9%
1Y
-1.7%

ELS: Defensive Cash Flows And 2026 Dividend Increase Will Support Upside Potential

Analysts have nudged the fair value estimate for Equity LifeStyle Properties higher by about $0.61 to $70.47, reflecting recent price target increases and generally supportive research commentary on the business model and earnings visibility. Analyst Commentary Recent Street research on Equity LifeStyle Properties has been active, with several firms revisiting ratings and price targets around the same time.
CLPR
US$3.36
Clipper Realty
7D
1.2%
1Y
-7.2%
AMH
US$30.30
American Homes 4 Rent
7D
-2.6%
1Y
-18.6%

AMH: Future Lease Rate Recovery Will Ultimately Showcase Build To Rent Strength

Analysts trimmed the fair value estimate for American Homes 4 Rent by $0.10 to $34.38 after incorporating recent cuts to Street price targets along with slightly softer margin and earnings assumptions into updated models. Analyst Commentary Recent Street research on American Homes 4 Rent centers on moderately lower price targets and refreshed models following Q4 results, updated guidance and sector level estimate changes.
CPT
US$101.60
Camden Property Trust
7D
-3.0%
1Y
-11.0%

CPT: 2026 Buybacks And Leasing Trends Will Shape Balanced Risk Reward

The updated analyst price target for Camden Property Trust has been reduced by about $1 to reflect modestly softer assumptions for fair value, revenue growth, and profit margins, as analysts incorporate refreshed Q4 and FY26 models along with more cautious sector estimates across U.S. multifamily REITs. Analyst Commentary Recent Street research on Camden Property Trust clusters around modest downward revisions to price targets, with most firms maintaining neutral ratings as they refresh models for Q4 results, FY26 assumptions, and broader multifamily sector conditions. Bullish Takeaways Bullish analysts are still willing to raise price targets in some cases.
UDR
US$34.54
UDR
7D
-3.5%
1Y
-17.0%

UDR: Coastal Turnaround Will Depend On Slowing Supply And Ongoing Buybacks

UDR's updated fair value estimate edges down slightly to $40.52 from $40.81 as analysts recalibrate their price targets to reflect mixed revisions around funding costs, modest revenue expectations, and updated sector views on multifamily REIT demand and earnings growth. Analyst Commentary Recent Street research on UDR points to a mixed but informative set of views, with price targets moving in both directions as analysts reassess funding costs, demand trends in multifamily housing, and the pace of earnings growth.
SUI
US$127.64
Sun Communities
7D
-2.0%
1Y
3.6%
ELME
US$2.16
Elme Communities
7D
0.5%
1Y
-86.2%

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.