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U.S. Real Estate Sector Analysis

UpdatedFeb 20, 2026
DataAggregated Company Financials
Companies276
  • 7D1.0%
  • 3M4.7%
  • 1Y1.5%
  • YTD6.1%

The Real Estate is pretty flat in the last 7 days, but CBRE Group has stood out, gaining 9.5%. In line with that, the industry has also been flat over the past 12 months. Looking forward, earnings are forecast to grow by 9.3% annually.

Sector Valuation and Performance

Has the U.S. Real Estate Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 20 Feb 2026US$1.6tUS$335.8bUS$35.0b29.2x45.9x4.8x
Sun, 18 Jan 2026US$1.6tUS$333.2bUS$32.5b29.9x48.4x4.7x
Tue, 16 Dec 2025US$1.5tUS$338.2bUS$32.8b29.1x46.4x4.5x
Thu, 13 Nov 2025US$1.6tUS$338.1bUS$32.6b29.5x47.5x4.6x
Sat, 11 Oct 2025US$1.5tUS$331.8bUS$31.0b27.7x49x4.6x
Mon, 08 Sep 2025US$1.6tUS$331.6bUS$30.9b29.8x50.3x4.7x
Wed, 06 Aug 2025US$1.5tUS$330.5bUS$31.3b28.9x47.9x4.5x
Fri, 04 Jul 2025US$1.5tUS$325.8bUS$30.1b29.9x49.8x4.6x
Sun, 01 Jun 2025US$1.5tUS$326.3bUS$29.9b28.9x48.7x4.5x
Tue, 29 Apr 2025US$1.5tUS$322.8bUS$28.5b29.4x51.3x4.5x
Thu, 27 Mar 2025US$1.5tUS$321.5bUS$29.0b30.1x52.3x4.7x
Sat, 22 Feb 2025US$1.6tUS$324.6bUS$27.3b31.6x57.8x4.9x
Mon, 20 Jan 2025US$1.5tUS$320.0bUS$27.4b32x56x4.8x
Wed, 18 Dec 2024US$1.6tUS$320.0bUS$27.4b33.4x58x5x
Fri, 15 Nov 2024US$1.6tUS$319.7bUS$27.2b34.2x59.4x5.1x
Sun, 13 Oct 2024US$1.6tUS$314.7bUS$26.7b33.3x60.4x5.1x
Tue, 10 Sep 2024US$1.6tUS$315.4bUS$27.1b33.9x59.4x5.1x
Thu, 08 Aug 2024US$1.5tUS$314.1bUS$27.7b31.9x54.9x4.8x
Sat, 06 Jul 2024US$1.4tUS$305.7bUS$27.1b30.8x51.3x4.5x
Mon, 03 Jun 2024US$1.4tUS$306.4bUS$27.5b31x50.7x4.5x
Wed, 01 May 2024US$1.3tUS$307.3bUS$28.1b29.8x47.2x4.3x
Fri, 29 Mar 2024US$1.4tUS$306.8bUS$28.0b31.1x50.8x4.6x
Sun, 25 Feb 2024US$1.4tUS$306.2bUS$26.8b29.2x52.2x4.6x
Tue, 23 Jan 2024US$1.5tUS$323.2bUS$26.7b30.9x55.2x4.6x
Thu, 21 Dec 2023US$1.5tUS$323.1bUS$26.5b30.9x56.8x4.7x
Sat, 18 Nov 2023US$1.4tUS$323.0bUS$26.5b28.4x51.3x4.2x
Mon, 16 Oct 2023US$1.3tUS$325.2bUS$31.5b26.9x41.3x4x
Wed, 13 Sep 2023US$1.4tUS$324.0bUS$31.7b28.4x44x4.3x
Fri, 11 Aug 2023US$1.4tUS$322.8bUS$31.6b29.8x45x4.4x
Sun, 09 Jul 2023US$1.4tUS$325.1bUS$34.4b24.5x40.9x4.3x
Tue, 06 Jun 2023US$1.3tUS$314.7bUS$35.5b23.9x37.7x4.3x
Thu, 04 May 2023US$1.3tUS$317.2bUS$35.7b23.1x37x4.2x
Sat, 01 Apr 2023US$1.4tUS$315.7bUS$38.2b24.3x35.5x4.3x
Mon, 27 Feb 2023US$1.4tUS$307.9bUS$38.6b24.3x36.1x4.5x
Price to Earnings Ratio

36.1x


Total Market Cap: US$1.4tTotal Earnings: US$38.6bTotal Revenue: US$307.9bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Real Estate Sector Price to Earnings3Y Average 49.7x202420252026
Current Industry PE
  • Investors are relatively neutral on the American Real Estate 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 49.7x.
  • The industry is trading close to its 3-year average PS ratio of 4.5x.
Past Earnings Growth
  • The earnings for companies in the Real Estate industry have declined 3.5% per year over the last three years.
  • Meanwhile revenues for these companies have grown 2.8% 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 sector?

US Market0.64%
Real Estate1.01%
Real Estate5.41%
Office REITs3.25%
Retail REITs2.18%
Industrial REITs2.17%
Hotel and Resort REITs1.72%
Health Care REITs0.57%
Residential REITs0.038%
Specialized REITs-0.98%
REITS-1.01%
Industry PE
  • Investors are most optimistic about the Office REITs industry which is trading above its 3-year average PE ratio of 82.3x.
    • Analysts are expecting annual earnings decline of 21.8%, which is lower than the prior year's growth of 20.9% per year.
Forecasted Growth
  • Analysts are most optimistic on the Real Estate industry, expecting annual earnings growth of 29% over the next 5 years.
  • This is better than its past earnings growth rate of 3.7% per year.
  • In contrast, the Office REITs industry is expected to see its earnings decline by 22% 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
CBRE CBRE GroupUS$149.199.5%
+US$3.8b		5.3%PE37.5x
SPG Simon Property GroupUS$199.724.3%
+US$2.7b		7.0%PB12.6x
PLD PrologisUS$139.042.0%
+US$2.6b		15.0%PB2.4x
CSGP CoStar GroupUS$49.079.0%
+US$1.7b		-37.4%PE1024.5x
JLL Jones Lang LaSalleUS$313.6912.0%
+US$1.6b		15.2%PE18.7x

Latest News

JLL
US$313.69
Jones Lang LaSalle
7D
12.0%
1Y
15.2%
INVH
US$25.68
Invitation Homes
7D
-4.3%
1Y
-20.3%
WPC
US$71.80
W. P. Carey
7D
-1.8%
1Y
17.3%
CCI
US$86.47
Crown Castle
7D
-1.5%
1Y
-5.2%
PSA
US$298.50
Public Storage
7D
2.1%
1Y
-1.8%
O
US$65.50
Realty Income
7D
1.1%
1Y
15.9%
DLR
US$176.90
Digital Realty Trust
7D
-1.9%
1Y
2.8%
WY
US$25.55
Weyerhaeuser
7D
-5.5%
1Y
-14.7%
CSGP
US$49.07
CoStar Group
7D
9.0%
1Y
-37.4%
BEKE
US$17.12
KE Holdings
7D
-3.4%
1Y
-15.3%

BEKE: Margin Discipline And Higher Future P/E Will Drive Upside Potential

Analysts have modestly lifted their fair value estimate for KE Holdings to about $20.93, citing updated assumptions around discount rates, profit margins, revenue growth and future P/E multiples, even as some firms, including one recent downgrade, reassess the stock's risk and return profile. Analyst Commentary Analyst sentiment around KE Holdings is mixed, with the recent downgrade at Goldman Sachs highlighting areas of concern even as some models support a fair value estimate near US$20.93 based on updated assumptions.
PLD
US$139.04
Prologis
7D
2.0%
1Y
15.0%
EQIX
US$918.03
Equinix
7D
-4.2%
1Y
-2.4%
CBRE
US$149.19
CBRE Group
7D
9.5%
1Y
5.3%
VICI
US$29.87
VICI Properties
7D
2.8%
1Y
-2.9%

VICI: Future Upside Will Depend On Caesars Regional Lease Stability

Analysts have trimmed their average price target on VICI Properties slightly, reflecting updated assumptions for fair value at about $35.13 and a marginally higher discount rate. Recent downgrades citing limited gaming investment opportunities and concerns around the Caesars regional lease help explain the more cautious stance.
SPG
US$199.72
Simon Property Group
7D
4.3%
1Y
7.0%
AMT
US$184.79
American Tower
7D
-1.8%
1Y
-3.9%