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U.S. Real Estate Sector Analysis

UpdatedFeb 21, 2026
DataAggregated Company Financials
Companies276
  • 7D0.3%
  • 3M5.3%
  • 1Y3.1%
  • YTD6.7%

In the last week, the Real Estate industry is up 1.0%, with Prologis leading the way, up 1.8%. In the last 12 months, the industry was up 3.1%. Earnings are forecast to grow by 9.4% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 21 Feb 2026US$1.6tUS$335.2bUS$33.8b30.2x47.4x4.8x
Mon, 19 Jan 2026US$1.6tUS$333.2bUS$32.5b29.9x48.4x4.7x
Wed, 17 Dec 2025US$1.5tUS$338.2bUS$32.8b28.8x46.5x4.5x
Fri, 14 Nov 2025US$1.5tUS$338.7bUS$32.7b28.6x47.1x4.5x
Sun, 12 Oct 2025US$1.5tUS$331.8bUS$31.0b27.7x48.4x4.5x
Tue, 09 Sep 2025US$1.6tUS$331.6bUS$30.9b29.7x50.3x4.7x
Thu, 07 Aug 2025US$1.5tUS$331.7bUS$31.0b28.8x48.6x4.5x
Sat, 05 Jul 2025US$1.5tUS$325.8bUS$29.9b29.9x50.2x4.6x
Mon, 02 Jun 2025US$1.5tUS$326.3bUS$29.9b28.9x50x4.6x
Wed, 30 Apr 2025US$1.5tUS$323.7bUS$28.2b29.1x52.3x4.6x
Fri, 28 Mar 2025US$1.5tUS$321.5bUS$29.0b29.9x52.6x4.7x
Sun, 23 Feb 2025US$1.6tUS$324.6bUS$27.3b31.6x57.8x4.9x
Tue, 21 Jan 2025US$1.5tUS$319.9bUS$27.4b31.9x56x4.8x
Thu, 19 Dec 2024US$1.6tUS$320.0bUS$27.4b31.7x57.7x4.9x
Sat, 16 Nov 2024US$1.6tUS$314.9bUS$27.3b34.2x57.6x5x
Mon, 14 Oct 2024US$1.6tUS$314.7bUS$26.7b33.3x60.4x5.1x
Wed, 11 Sep 2024US$1.6tUS$315.4bUS$27.1b33.9x59.4x5.1x
Fri, 09 Aug 2024US$1.5tUS$314.6bUS$27.7b32x54.5x4.8x
Sun, 07 Jul 2024US$1.4tUS$305.7bUS$27.1b30.8x51.4x4.5x
Tue, 04 Jun 2024US$1.4tUS$306.4bUS$27.5b31.1x50.7x4.5x
Thu, 02 May 2024US$1.3tUS$307.9bUS$28.6b29.7x46.4x4.3x
Sat, 30 Mar 2024US$1.4tUS$306.8bUS$27.9b31.1x51.3x4.7x
Mon, 26 Feb 2024US$1.4tUS$305.3bUS$27.4b29.1x51x4.6x
Wed, 24 Jan 2024US$1.5tUS$323.3bUS$26.7b30.9x55.2x4.6x
Fri, 22 Dec 2023US$1.5tUS$323.1bUS$26.5b31x56.2x4.6x
Sun, 19 Nov 2023US$1.4tUS$323.0bUS$26.5b28.4x51.3x4.2x
Tue, 17 Oct 2023US$1.3tUS$325.2bUS$31.5b26.5x41.6x4x
Thu, 14 Sep 2023US$1.4tUS$324.0bUS$31.7b28.3x43.5x4.3x
Sat, 12 Aug 2023US$1.4tUS$322.8bUS$31.5b29.9x45.2x4.4x
Mon, 10 Jul 2023US$1.4tUS$325.1bUS$34.4b24.5x40.9x4.3x
Wed, 07 Jun 2023US$1.3tUS$314.7bUS$35.5b24.5x37.8x4.3x
Fri, 05 May 2023US$1.3tUS$316.9bUS$35.5b23.3x37.5x4.2x
Sun, 02 Apr 2023US$1.4tUS$316.0bUS$38.4b24.3x35.4x4.3x
Tue, 28 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 4.3% per year over the last three years.
  • Meanwhile revenues for these companies have grown 2.9% 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 Market0.99%
Real Estate0.25%
Real Estate3.29%
Hotel and Resort REITs1.98%
Industrial REITs1.97%
Retail REITs1.59%
Health Care REITs-0.41%
Office REITs-0.42%
Specialized REITs-1.02%
REITS-1.26%
Residential REITs-1.53%
Industry PE
  • Investors are most optimistic about the Office REITs industry which is trading above its 3-year average PE ratio of 82.7x.
    • Analysts are expecting annual earnings decline of 21.3%, 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 32% over the next 5 years.
  • This is better than its past earnings growth rate of 1.4% per year.
  • In contrast, the Office REITs industry is expected to see its earnings decline by 21% 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
PLD PrologisUS$141.511.8%
+US$2.4b		17.0%PB2.5x
CSGP CoStar GroupUS$49.8710.8%
+US$2.1b		-35.1%PE1041.2x
SPG Simon Property GroupUS$201.702.5%
+US$1.6b		9.7%PB12.7x
CBRE CBRE GroupUS$147.013.3%
+US$1.4b		8.3%PE36.9x
EXR Extra Space StorageUS$152.754.4%
+US$1.2b		-2.1%PB2.4x

Latest News

PSA
US$305.00
Public Storage
7D
1.5%
1Y
0.3%
DLR
US$175.68
Digital Realty Trust
7D
-2.9%
1Y
6.2%
INVH
US$25.30
Invitation Homes
7D
-6.3%
1Y
-20.7%
SPG
US$201.70
Simon Property Group
7D
2.5%
1Y
9.7%
EQIX
US$928.11
Equinix
7D
-2.9%
1Y
0.9%
WY
US$25.28
Weyerhaeuser
7D
-5.5%
1Y
-14.9%
JLL
US$314.00
Jones Lang LaSalle
7D
8.6%
1Y
19.8%

JLL: Fair Value View Balances AI Scare Trade Risks And Execution Uncertainty

The analyst price target for Jones Lang LaSalle has been raised by $11.65 to $291.07, with analysts citing updated assumptions on fair value, discount rate, profit margin, and future P/E in the context of recent target increases from multiple research firms. Analyst Commentary Recent research highlights a mixed backdrop for Jones Lang LaSalle, with some firms lifting price targets while also flagging sector specific risks and valuation questions.
EXR
US$152.75
Extra Space Storage
7D
4.4%
1Y
-2.1%
CBRE
US$147.01
CBRE Group
7D
3.3%
1Y
8.3%

CBRE: Future Returns Will Reflect Resilient Exposure To Apartments And Single Family Rentals

The analyst price target for CBRE Group has been trimmed to about $182 from roughly $185, as analysts factor in slightly lower revenue growth and profit margin assumptions, along with a modestly lower future P/E. They are also weighing mixed recent research that includes both target cuts tied to broader commercial real estate concerns and incremental target increases from other firms.
CCI
US$88.01
Crown Castle
7D
-2.6%
1Y
-4.5%
CSGP
US$49.87
CoStar Group
7D
10.8%
1Y
-35.1%
WELL
US$208.19
Welltower
7D
-1.2%
1Y
40.1%

WELL: 2026 Earnings Outlook And Higher Fair Value Will Shape Future Income

Analysts now set their price target for Welltower at $218.80, up from $207.38. This reflects updated views on revenue growth, profit margins and future P/E assumptions.
AMH
US$29.52
American Homes 4 Rent
7D
-6.6%
1Y
-16.0%
PLD
US$141.51
Prologis
7D
1.8%
1Y
17.0%
VICI
US$30.09
VICI Properties
7D
2.7%
1Y
-3.8%

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.
AMT
US$187.31
American Tower
7D
-2.5%
1Y
-2.2%