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U.S. Specialized REITs Industry Analysis

UpdatedMay 15, 2026
DataAggregated Company Financials
Companies25
  • 7D-1.4%
  • 3M0.5%
  • 1Y1.5%
  • YTD14.6%

Over the last 7 days, the Specialized REITs industry has dropped 1.4%, driven by a pullback from American Tower of 5.2%. Meanwhile, Fermi actually outperformed within the industry, gaining 44% in the last week. Over the last year, the industry has been flat overall. As for the next few years, earnings are expected to grow by 7.8% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 15 May 2026US$464.4bUS$56.8bUS$14.1b29.3x32.9x8.2x
Sun, 12 Apr 2026US$453.4bUS$55.7bUS$13.2b30x34.4x8.1x
Tue, 10 Mar 2026US$448.8bUS$55.7bUS$13.7b31.7x32.8x8.1x
Thu, 05 Feb 2026US$413.6bUS$55.4bUS$13.9b28.1x29.8x7.5x
Sat, 03 Jan 2026US$400.8bUS$56.7bUS$14.0b27.3x28.7x7.1x
Mon, 01 Dec 2025US$413.8bUS$56.7bUS$14.0b28.7x29.7x7.3x
Wed, 29 Oct 2025US$448.4bUS$56.0bUS$13.2b26.6x34.1x8x
Fri, 26 Sep 2025US$423.9bUS$55.7bUS$13.0b28.9x32.7x7.6x
Sun, 24 Aug 2025US$439.7bUS$55.7bUS$13.0b30.2x33.9x7.9x
Tue, 22 Jul 2025US$445.3bUS$55.2bUS$12.4b28.2x35.9x8.1x
Thu, 19 Jun 2025US$448.7bUS$55.2bUS$12.4b28.7x36.2x8.1x
Sat, 17 May 2025US$444.9bUS$55.2bUS$12.4b29.1x35.9x8.1x
Mon, 14 Apr 2025US$416.1bUS$54.8bUS$12.8b27x32.6x7.6x
Wed, 12 Mar 2025US$485.5bUS$61.5bUS$14.1b28.9x34.4x7.9x
Fri, 07 Feb 2025US$475.4bUS$61.7bUS$13.2b25.3x36x7.7x
Sun, 05 Jan 2025US$476.0bUS$61.6bUS$13.2b24.6x36.2x7.7x
Tue, 03 Dec 2024US$528.2bUS$61.5bUS$13.1b28.9x40.4x8.6x
Thu, 31 Oct 2024US$509.0bUS$61.3bUS$13.1b28.4x39x8.3x
Sat, 28 Sep 2024US$522.7bUS$61.7bUS$14.3b29.7x36.5x8.5x
Mon, 26 Aug 2024US$502.2bUS$61.7bUS$14.3b28.7x35x8.1x
Wed, 24 Jul 2024US$476.4bUS$61.0bUS$13.3b26.8x35.9x7.8x
Fri, 21 Jun 2024US$449.1bUS$61.3bUS$13.5b26x33.3x7.3x
Sun, 19 May 2024US$456.9bUS$61.3bUS$13.5b26.1x33.9x7.5x
Tue, 16 Apr 2024US$433.1bUS$61.0bUS$12.7b23.7x34.1x7.1x
Thu, 14 Mar 2024US$475.3bUS$61.0bUS$12.7b25.4x37.4x7.8x
Sat, 10 Feb 2024US$457.6bUS$59.9bUS$11.4b28.6x40.1x7.6x
Mon, 08 Jan 2024US$479.4bUS$60.9bUS$11.5b31.8x41.6x7.9x
Wed, 06 Dec 2023US$470.0bUS$60.9bUS$11.5b30.9x40.7x7.7x
Fri, 03 Nov 2023US$407.5bUS$60.7bUS$11.6b27.1x35.1x6.7x
Sun, 01 Oct 2023US$410.2bUS$60.1bUS$13.7b26.4x30x6.8x
Tue, 29 Aug 2023US$435.1bUS$60.1bUS$13.7b28.1x31.8x7.2x
Thu, 27 Jul 2023US$450.7bUS$60.2bUS$14.6b24x30.9x7.5x
Sat, 24 Jun 2023US$425.6bUS$60.0bUS$14.6b22.4x29.2x7.1x
Mon, 22 May 2023US$426.6bUS$60.0bUS$14.6b23.1x29.3x7.1x
Price to Earnings Ratio

29.3x


Total Market Cap: US$426.6bTotal Earnings: US$14.6bTotal Revenue: US$60.0bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Specialized REITs Industry Price to Earnings3Y Average 34.3x202420252026
Current Industry PE
  • Investors are relatively neutral on the American Specialized 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 PE ratio of 34.3x.
  • The industry is trading close to its 3-year average PS ratio of 7.7x.
Past Earnings Growth
  • Both revenue and earnings for companies in the Specialized 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 Market1.15%
Real Estate-0.99%
Specialized REITs-1.40%
Data Center REITs0.97%
Timber REITs-1.33%
Self-Storage REITs-1.69%
Telecom Tower REITs-5.16%
Industry PE
  • Investors are most optimistic about the Data Center REITs industry which is trading above its 3-year average PE ratio of 77.4x.
    • Analysts are expecting annual earnings growth of 7.7%, which is lower than the prior year's growth of 148.0% per year.
  • Investors are most pessimistic about the Telecom Tower REITs industry, which is trading below its 3-year average of 41.0x.
Forecasted Growth
  • Analysts are most optimistic on the Timber REITs industry, expecting annual earnings growth of 27% over the next 5 years.
  • This is better than its past earnings decline of 36% per year.
  • In contrast, the Self-Storage REITs industry is expected to see its earnings grow by 5.3% 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
FRMI FermiUS$6.5124.4%
+US$803.0m		n/aPB3.8x
LAND Gladstone LandUS$9.44-3.2%
US$592.1k		-3.4%PB0.6x

Latest News

PSA
US$292.47
Public Storage
7D
-6.0%
1Y
-5.4%
DLR
US$188.51
Digital Realty Trust
7D
-3.5%
1Y
10.9%
AMT
US$170.63
American Tower
7D
-3.3%
1Y
-20.0%
FRMI
US$6.51
Fermi
7D
24.4%
1Y
n/a
Seeking Alpha • 11h

Fermi: Still Problems To Sort Out

Summary Fermi remains a hold, as revenue generation and tenant signings are still unproven, despite progress on Project Matador. FRMI increased debt substantially to fund its energy-focused data center campus, avoiding shareholder dilution but raising financial risk. Leadership instability, with the CEO ousted and no replacement yet, clouds near-term prospects for securing lucrative triple-net leases. While macro tailwinds exist and long-term capacity has grown to 17 GW, dividends and meaningful cash flow are likely years away. Read the full article on Seeking Alpha
EQIX
US$1,059.36
Equinix
7D
-1.2%
1Y
20.9%
Narrative Update • May 14

EQIX: Fair View Sees AI Interconnection Demand Tested By Elevated REIT Premium

Equinix's updated fair value estimate has moved from $1,110.59 to $1,197.11 as analysts factor in higher assumed revenue growth, slightly stronger profit margins, and a modestly different discount rate, alongside a revised future P/E framework following a wave of price target increases across the Street. Analyst Commentary The recent reset in Equinix's fair value estimate comes alongside a dense stretch of Street research, with many firms revisiting their models and price targets in light of updated company guidance and sector positioning.
LAMR
US$145.46
Lamar Advertising
7D
-7.9%
1Y
21.3%
SBAC
US$199.62
SBA Communications
7D
-8.5%
1Y
-14.4%
LAND
US$9.44
Gladstone Land
7D
-3.2%
1Y
-3.4%
Narrative Update • May 11

LAND: Steady Crop Pricing And Cautious Acquisitions Will Support Future Cash Flows

Narrative Update: Gladstone Land Analysts now cluster around a roughly $11.75 average price target for Gladstone Land. This reflects a mix of upward and downward revisions after recent earnings and updated views on steady produce demand, acquisition caution given higher capital costs, and operational risks tied to input costs, water rules, and crop price uncertainty.
CCI
US$86.66
Crown Castle
7D
-4.3%
1Y
-15.3%
EXR
US$136.90
Extra Space Storage
7D
-4.5%
1Y
-9.8%