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U.S. Real Estate Sector Analysis

UpdatedJul 12, 2026
DataAggregated Company Financials
Companies270
  • 7D-1.1%
  • 3M5.1%
  • 1Y9.7%
  • YTD10.0%

Over the last 7 days, the Real Estate industry has dropped 1.1%, driven by a pullback from Welltower of 1.9%. Over the past 12 months, the industry was up 9.7%. Earnings are forecast to grow by 8.2% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 12 Jul 2026US$1.7tUS$337.4bUS$38.7b30.3x43.2x5x
Tue, 09 Jun 2026US$1.6tUS$338.8bUS$38.9b29.5x42.3x4.9x
Thu, 07 May 2026US$1.6tUS$340.2bUS$38.2b28.6x42.6x4.8x
Sat, 04 Apr 2026US$1.5tUS$334.6bUS$34.6b27.4x44.4x4.6x
Mon, 02 Mar 2026US$1.6tUS$335.5bUS$35.0b29.1x46.4x4.8x
Wed, 28 Jan 2026US$1.5tUS$333.2bUS$31.5b29x48.8x4.6x
Fri, 26 Dec 2025US$1.5tUS$339.1bUS$32.2b29x47.3x4.5x
Sun, 23 Nov 2025US$1.5tUS$338.1bUS$32.8b29x45.4x4.4x
Tue, 21 Oct 2025US$1.6tUS$332.0bUS$30.8b29x50.8x4.7x
Thu, 18 Sep 2025US$1.5tUS$331.7bUS$30.9b29x50.1x4.7x
Sat, 16 Aug 2025US$1.5tUS$331.3bUS$31.0b28.7x48.3x4.5x
Mon, 14 Jul 2025US$1.5tUS$325.8bUS$29.9b30.2x50.1x4.6x
Wed, 11 Jun 2025US$1.5tUS$326.3bUS$29.9b30.1x50.2x4.6x
Fri, 09 May 2025US$1.5tUS$324.9bUS$29.7b29x50.1x4.6x
Sun, 06 Apr 2025US$1.4tUS$321.4bUS$28.7b28.8x49.2x4.4x
Tue, 04 Mar 2025US$1.6tUS$325.3bUS$29.9b31.9x54.3x5x
Thu, 30 Jan 2025US$1.6tUS$320.2bUS$27.9b31.5x55.8x4.9x
Sat, 28 Dec 2024US$1.5tUS$320.0bUS$27.4b31.9x56.1x4.8x
Mon, 25 Nov 2024US$1.6tUS$320.0bUS$27.4b34.8x59.9x5.1x
Wed, 23 Oct 2024US$1.6tUS$314.8bUS$27.2b34.1x59.6x5.1x
Fri, 20 Sep 2024US$1.6tUS$315.6bUS$27.2b34.1x60.7x5.2x
Sun, 18 Aug 2024US$1.5tUS$314.6bUS$27.3b32.5x56.4x4.9x
Tue, 16 Jul 2024US$1.5tUS$305.7bUS$27.1b32.1x53.6x4.8x
Thu, 13 Jun 2024US$1.4tUS$306.6bUS$27.7b30.3x49.8x4.5x
Sat, 11 May 2024US$1.4tUS$308.2bUS$27.9b31x49.7x4.5x
Mon, 08 Apr 2024US$1.4tUS$306.7bUS$27.8b30x50.1x4.5x
Wed, 06 Mar 2024US$1.4tUS$305.5bUS$28.3b29.1x50.7x4.7x
Fri, 02 Feb 2024US$1.5tUS$323.6bUS$26.9b30x54.6x4.5x
Sun, 31 Dec 2023US$1.5tUS$323.1bUS$26.6b30.9x57x4.7x
Tue, 28 Nov 2023US$1.4tUS$323.0bUS$26.5b28.3x51.8x4.2x
Thu, 26 Oct 2023US$1.2tUS$325.2bUS$30.7b25.2x40.1x3.8x
Sat, 23 Sep 2023US$1.3tUS$325.2bUS$31.5b27x42x4.1x
Mon, 21 Aug 2023US$1.4tUS$323.2bUS$31.2b28.7x44x4.2x
Wed, 19 Jul 2023US$1.4tUS$325.1bUS$34.4b26.1x41.6x4.4x
Price to Earnings Ratio

41.6x


Total Market Cap: US$1.4tTotal Earnings: US$34.4bTotal Revenue: US$325.1bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Real Estate Sector Price to Earnings3Y Average 50.2x202420252026
Current Industry PE
  • Investors are pessimistic on the American Real Estate 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 43.2x which is lower than its 3-year average PE of 50.2x.
  • The industry is trading close to its 3-year average PS ratio of 4.6x.
Past Earnings Growth
  • The earnings for companies in the Real Estate industry have grown 4.0% per year over the last three years, while revenues have remained mostly flat.
  • This means that companies overall are more efficiently conducting business since profits are increasing while sales have been flat.

Industry Trends

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

US Market0.81%
Real Estate-1.08%
Industrial REITs0.69%
Specialized REITs0.50%
REITS0.35%
Hotel and Resort REITs-1.36%
Retail REITs-1.71%
Real Estate-2.13%
Health Care REITs-2.16%
Residential REITs-2.73%
Office REITs-4.03%
Industry PE
  • Investors are most optimistic about the Health Care REITs industry even though it's trading below its 3-year average PE ratio of 348x.
    • Analysts are expecting annual earnings growth of 23.8%, which is lower than the prior year's growth of 30.0% per year.
Forecasted Growth
  • Analysts are most optimistic on the Real Estate industry, expecting annual earnings growth of 27% over the next 5 years.
  • This is better than its past earnings decline of 3.8% per year.
  • In contrast, the Residential REITs industry is expected to see its earnings decline by 7.8% 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
EQIX EquinixUS$1.05k4.9%
+US$4.9b		38.9%PB7.3x
DLR Digital Realty TrustUS$180.414.1%
+US$2.6b		7.1%PB2.9x
PLD PrologisUS$140.871.0%
+US$1.3b		29.0%PB2.5x
CCI Crown CastleUS$79.664.0%
+US$1.3b		-22.5%PE33.5x
IRM Iron MountainUS$121.513.7%
+US$1.3b		24.0%PE132.8x

Latest News

VTR
US$90.66
Ventas
7D
-2.0%
1Y
40.0%
Seeking Alpha • 8h

Ventas: Ahead Of Q2 Results, Lots To Like About This Senior-Care REIT

Summary Ventas is positioned as both a dividend and growth REIT, benefiting from macro tailwinds in senior housing demand. VTR’s investment-grade balance sheet, geographic diversity, and expanding portfolio underpin its resilience and modest growth outlook. Despite a rich 23x forward earnings multiple, upside forecasts are only 7%–10%, warranting a more neutral valuation stance. Dividend coverage is strong at 1.7x AFFO/share, with a 57% payout ratio and a focus on growth and safety over yield. Read the full article on Seeking Alpha
DLR
US$180.41
Digital Realty Trust
7D
4.1%
1Y
7.1%
FRMI
US$6.59
Fermi
7D
-18.2%
1Y
n/a
PSA
US$320.56
Public Storage
7D
-2.8%
1Y
10.9%
VICI
US$26.01
VICI Properties
7D
-4.3%
1Y
-22.2%
Seeking Alpha • Jul 10

VICI Properties: Rich And Secure Incomes To Weather Macro And Caesars/MGM Uncertainty

Summary The heightened US-Iran volatility brings forth renewed inflation and Fed rate hike fears, with it triggering downward pressure on many REIT stocks, VICI included. Caesars/MGM account for 70% of VICI's rent, with the potential buyouts triggering near-term lease uncertainties, worsened by the reduced visibility into the two tenants' future financial health. Readers may want to closely monitor VICI's upcoming FQ2'26 earnings call, since it remains to be seen how the REIT may eventually be impacted. Las Vegas Strip recovery, CPI-linked escalators, and a healthy balance sheet underpin the REIT's secure dividend investment thesis through the AFFO payout ratio of 74%. VICI remains a Strong Buy here, with the overly done market pessimism triggering an attractive entry point for contrarian investors seeking rich dividends/capital appreciation prospects. Read the full article on Seeking Alpha
ARE
US$47.88
Alexandria Real Estate Equities
7D
-8.9%
1Y
-39.8%
Narrative Update • Jul 08

ARE: Softer Margins And Widening Revenue Contraction Will Pressure Overvalued Shares

Analysts have trimmed their fair value estimate and implied price target for Alexandria Real Estate Equities from $50.00 to $42.00, reflecting slightly lower assumptions for revenue growth, profit margins, and future P/E multiples, along with a modest adjustment to the discount rate. What's in the News for Alexandria Real Estate Equities Alexandria Real Estate Equities, Inc.
WELL
US$231.59
Welltower
7D
-1.9%
1Y
49.3%
Narrative Update • Jul 07

WELL: Senior Housing Momentum And 2026 Dividend Outlook Will Support Balanced View

Analysts have adjusted their price target for Welltower to about $238.73 per share from $233.50, citing updated assumptions around fair value, discount rate, revenue growth, profit margins, and future P/E expectations. What’s in the News for Welltower Analysts are watching for Welltower’s Q2 2026 earnings, with expectations for a double digit profit increase and continued focus on senior housing performance, according to recent earnings previews.
IRM
US$121.51
Iron Mountain
7D
3.7%
1Y
24.0%
Seeking Alpha • Jul 07

Iron Mountain: A REIT Growth Idea, Thanks To Data Centers And More

Summary Iron Mountain gets a buy rating for my initial coverage, driven by both a compelling growth case and the dividend story as well. Both the top and bottom lines have seen growth catalysts lately. Positive and growing operating cash flow tempers the risk of high levels of leverage and owning a massive real estate portfolio. The risk of challenges for further data center growth was discussed, including power/cooling needs and activist intervention. Read the full article on Seeking Alpha
CCI
US$79.66
Crown Castle
7D
4.0%
1Y
-22.5%
Seeking Alpha • Jul 06

Crown Castle: A Pure-Play Tower Bargain After The Fiber Exit

Summary Crown Castle Inc. offers a compelling long-term value and income opportunity amid a transitional 2026, trading near 52-week lows with a 5.55% yield. CCI’s pure-play U.S. tower focus, cost reductions, and capital redeployment position it for organic growth and enhanced operating efficiency post-fiber divestiture. Forward P/FFO of 19.3 is below historical norms, with analysts projecting 8%–13% annual FFO/share growth over the next three years. SpaceX and DISH risks remain, but CCI’s durable core business and essential infrastructure underpin a 'Buy' rating for patient dividend investors. Read the full article on Seeking Alpha
BEKE
US$15.57
KE Holdings
7D
3.2%
1Y
-15.7%
Narrative Update • Jul 03

BEKE: Share Repurchases And Q1 Profit Beat Will Drive Re Rating Potential

Analysts have lifted the implied fair value for KE Holdings from about $21.0 to $22.8, reflecting higher price targets in the $23 to $26 range after they updated models and earnings expectations following the Q1 profit beat. Analyst Commentary Recent research on KE Holdings has been largely supportive, with several bullish analysts revising their models after the Q1 profit beat and setting higher price targets in the low to mid US$20s.
EQIX
US$1,051.21
Equinix
7D
4.9%
1Y
38.9%
SPG
US$218.77
Simon Property Group
7D
-3.2%
1Y
35.3%
PLD
US$140.87
Prologis
7D
1.0%
1Y
29.0%
AMT
US$168.59
American Tower
7D
1.5%
1Y
-23.1%
EXR
US$143.96
Extra Space Storage
7D
-3.6%
1Y
-4.2%
SBAC
US$190.03
SBA Communications
7D
3.0%
1Y
-16.9%