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U.S. Real Estate Sector Analysis

UpdatedApr 02, 2026
DataAggregated Company Financials
Companies271
  • 7D0.7%
  • 3M0.8%
  • 1Y-2.4%
  • YTD0.3%

The Real Estate is pretty flat in the last 7 days, but Equinix has stood out, gaining 3.1%. In line with that, the industry has also been flat over the past 12 months. Earnings are forecast to grow by 9.0% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 02 Apr 2026US$1.5tUS$333.3bUS$34.5b26.8x43.7x4.5x
Sat, 28 Feb 2026US$1.6tUS$335.5bUS$35.0b29.1x46.4x4.8x
Mon, 26 Jan 2026US$1.5tUS$333.3bUS$32.5b29.1x47.4x4.6x
Wed, 24 Dec 2025US$1.5tUS$339.1bUS$32.2b28.8x47x4.5x
Fri, 21 Nov 2025US$1.5tUS$338.1bUS$32.7b28.5x46.1x4.5x
Sun, 19 Oct 2025US$1.5tUS$332.0bUS$30.7b29x50.3x4.7x
Tue, 16 Sep 2025US$1.6tUS$331.7bUS$30.9b29.2x50.6x4.7x
Thu, 14 Aug 2025US$1.5tUS$331.4bUS$30.8b28.5x48.4x4.5x
Sat, 12 Jul 2025US$1.5tUS$325.8bUS$29.9b30.1x49.7x4.6x
Mon, 09 Jun 2025US$1.5tUS$326.3bUS$29.9b29.8x50.3x4.6x
Wed, 07 May 2025US$1.5tUS$324.2bUS$29.7b29x50.5x4.6x
Fri, 04 Apr 2025US$1.5tUS$321.4bUS$28.7b30x53.4x4.8x
Sun, 02 Mar 2025US$1.6tUS$325.4bUS$30.1b32.5x53.9x5x
Tue, 28 Jan 2025US$1.6tUS$320.4bUS$28.2b32.5x55.1x4.8x
Thu, 26 Dec 2024US$1.5tUS$320.0bUS$27.4b32.1x56x4.8x
Sat, 23 Nov 2024US$1.6tUS$320.0bUS$27.4b34.8x59.4x5.1x
Mon, 21 Oct 2024US$1.7tUS$314.8bUS$27.0b34.3x61.2x5.2x
Wed, 18 Sep 2024US$1.7tUS$315.4bUS$27.2b33.3x60.8x5.2x
Fri, 16 Aug 2024US$1.5tUS$314.6bUS$27.6b32.2x55.8x4.9x
Sun, 14 Jul 2024US$1.5tUS$305.7bUS$27.1b32x53.6x4.8x
Tue, 11 Jun 2024US$1.4tUS$306.4bUS$27.7b30.3x49.8x4.5x
Thu, 09 May 2024US$1.4tUS$308.0bUS$28.6b29.3x47.9x4.4x
Sat, 06 Apr 2024US$1.4tUS$306.7bUS$27.8b30x49.8x4.5x
Mon, 04 Mar 2024US$1.4tUS$305.5bUS$28.3b29.2x50.2x4.6x
Wed, 31 Jan 2024US$1.5tUS$323.4bUS$26.6b30.9x55.2x4.6x
Fri, 29 Dec 2023US$1.5tUS$323.1bUS$26.5b30.9x57.5x4.7x
Sun, 26 Nov 2023US$1.4tUS$323.0bUS$26.5b28.5x51.8x4.2x
Tue, 24 Oct 2023US$1.2tUS$325.3bUS$31.0b25.4x39.9x3.8x
Thu, 21 Sep 2023US$1.4tUS$325.3bUS$31.5b28x43.8x4.2x
Sat, 19 Aug 2023US$1.4tUS$323.2bUS$31.2b28.7x43.9x4.2x
Mon, 17 Jul 2023US$1.4tUS$325.2bUS$34.4b25.6x42x4.4x
Wed, 14 Jun 2023US$1.4tUS$313.9bUS$35.6b24.2x38.2x4.3x
Fri, 12 May 2023US$1.3tUS$314.4bUS$34.9b23.3x38.4x4.3x
Sun, 09 Apr 2023US$1.3tUS$315.9bUS$38.1b24.7x35.4x4.3x
Price to Earnings Ratio

35.4x


Total Market Cap: US$1.3tTotal Earnings: US$38.1bTotal Revenue: US$315.9bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Real Estate Sector Price to Earnings3Y Average 49.7x202420252026
Current Industry PE
  • Investors are 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 43.7x which is lower than its 3-year average PE of 49.7x.
  • 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 declined 3.2% per year over the last three years.
  • Meanwhile revenues have remained mostly flat.
  • This means that although sales have remained flat, 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 Market-0.32%
Real Estate0.73%
Retail REITs2.36%
Specialized REITs1.82%
Industrial REITs1.27%
REITS1.21%
Residential REITs0.71%
Health Care REITs-0.14%
Office REITs-1.73%
Hotel and Resort REITs-2.04%
Real Estate-2.87%
Industry PE
  • Investors are most optimistic about the Health Care REITs industry which is trading above its 3-year average PE ratio of 327x.
    • Analysts are expecting annual earnings growth of 27.8%, which is higher than its past year's earnings growth of 12.9% per year.
Forecasted Growth
  • Analysts are most optimistic on the Health Care REITs industry, expecting annual earnings growth of 28% over the next 5 years.
  • This is better than its past earnings growth rate of 13% per year.
  • In contrast, the Office REITs industry is expected to see its earnings decline by 17% 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$995.983.1%
+US$3.0b		19.8%PB6.9x
PLD PrologisUS$133.332.3%
+US$2.8b		18.7%PB2.3x
SPG Simon Property GroupUS$188.093.6%
+US$2.1b		10.4%PB11.8x
AMT American TowerUS$171.022.2%
+US$1.7b		-21.5%PB21.8x
O Realty IncomeUS$61.883.0%
+US$1.7b		8.3%PB1.5x

Latest News

CSGP
US$39.63
CoStar Group
7D
-4.3%
1Y
-50.4%
BEKE
US$14.84
KE Holdings
7D
-5.6%
1Y
-27.4%

BEKE: Softer Outlook And Downgrades Will Test Premium Multiple Going Forward

KE Holdings' latest analyst price target has been revised to $23 from $25, as analysts factor in softer revenue expectations and profit margins, along with a higher assumed P/E multiple for the stock. Analyst Commentary Recent Street research signals a more cautious tone around KE Holdings, with price targets trimmed and at least one downgrade highlighting rising concern around the balance between growth expectations, margins, and valuation.
AMT
US$171.02
American Tower
7D
2.2%
1Y
-21.5%
FRMI
US$5.37
Fermi
7D
-19.4%
1Y
n/a

Large Scale AI Power Infrastructure Will Transform Long Term Cash Flows And Tenant Demand

Catalysts About Fermi Fermi develops large scale power and data infrastructure to support tenants focused on artificial intelligence and high intensity computing. What are the underlying business or industry changes driving this perspective?
PLD
US$133.33
Prologis
7D
2.3%
1Y
18.7%
WELL
US$198.86
Welltower
7D
1.1%
1Y
29.9%

WELL: Data Science Alliance And 2026 Earnings Outlook Will Support Future Upside

Analysts have raised their price target for Welltower from $228.10 to $229.30, reflecting updated assumptions related to discount rates, revenue growth, profit margins, and future P/E expectations. What's in the News Welltower and Public Storage announced a data science partnership that combines Welltower's capital allocation models with Public Storage's operational and pricing analytics to support more targeted real estate investments and operations (Key Developments).
PSA
US$276.24
Public Storage
7D
3.2%
1Y
-7.0%
ZG
US$40.47
Zillow Group
7D
-6.8%
1Y
-42.0%

ZG: AI And Listing Rule Easing Will Support Long Term Moat

Analysts trimmed their fair value estimate for Zillow Group by just under $1 to $73.83, reflecting slightly higher perceived risk and a modestly lower future P/E multiple, even as their assumptions for revenue growth and profit margins edged up. Analyst Commentary Recent Street research on Zillow Group reflects an active debate around the stock, with many analysts recalibrating price targets and ratings in light of legal, competitive, and technology questions.
EQIX
US$995.98
Equinix
7D
3.1%
1Y
19.8%

EQIX: Fair View Sees AI Infrastructure Demand And REIT Risks Shaping 2026

The analyst fair value estimate for Equinix has been adjusted modestly higher to $1,036.41. Analysts point to a series of upward price target revisions and positive commentary on the company’s position in enterprise data centers and digital infrastructure demand as key supports for the change.
O
US$61.88
Realty Income
7D
3.0%
1Y
8.3%
CCI
US$80.83
Crown Castle
7D
5.0%
1Y
-22.1%

CCI: Post 2026 Divestiture And Refocused Towers Will Ultimately Outweigh EchoStar Overhang

Analysts have trimmed their average price target for Crown Castle by a small amount to reflect slightly weaker organic growth expectations and modestly lower margin and revenue assumptions, even as some still highlight potential benefits from the planned small cell and fiber divestiture and a possible move toward low single digit revenue growth. Analyst Commentary Recent research on Crown Castle reflects a split view, with some focusing on the potential for a cleaner, tower-focused business after the planned small cell and fiber divestiture, and others concentrating on slower organic growth and trimmed leasing expectations.
COMP
US$7.18
Compass
7D
-9.3%
1Y
-20.0%

COMP: Anywhere Integration And Lower Rates Will Support Future Expansion Potential

Analysts have modestly lifted their blended price targets on Compass to reflect recent initiations, upgrades and post-earnings estimate updates, with moves such as Morgan Stanley's shift to $11 from $10, JPMorgan's adjustment to $14 from $15, Wells Fargo's increase to $13 from $8 and BTIG's raise to $15 from $12.50. Analyst Commentary Bullish analysts have been increasingly vocal on Compass, pointing to a mix of valuation support, integration milestones and a more constructive view on the operating backdrop.
ARE
US$43.29
Alexandria Real Estate Equities
7D
-8.4%
1Y
-53.1%
SPG
US$188.09
Simon Property Group
7D
3.6%
1Y
10.4%
OPEN
US$4.57
Opendoor Technologies
7D
-10.4%
1Y
352.5%

OPEN: Acquisition Reset And Margin Cohorts Will Drive Future Upside

Analysts have raised their price targets on Opendoor Technologies by about $3 to $4 per share, citing improving acquisition activity and higher assumed margins in future years. They still expect losses and view it as too early to confirm that the strategic reset is working.
LINE
US$32.78
Lineage
7D
-6.0%
1Y
-44.0%