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U.S. Real Estate Sector Analysis

UpdatedMay 21, 2026
DataAggregated Company Financials
Companies276
  • 7D0.5%
  • 3M2.0%
  • 1Y11.0%
  • YTD8.3%

Over the last 7 days, the Real Estate industry has dropped 1.5%, driven by CBRE Group declining 6.8%. In contrast, American Tower has gained 5.8%. In the past year, the industry has gained 6.6%. As for the next few years, earnings are expected to grow by 7.9% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 21 May 2026US$1.6tUS$339.0bUS$39.0b29.7x41.7x4.8x
Sat, 18 Apr 2026US$1.6tUS$334.9bUS$35.0b28.6x46.5x4.9x
Mon, 16 Mar 2026US$1.6tUS$335.3bUS$35.4b27.8x44.1x4.6x
Wed, 11 Feb 2026US$1.6tUS$333.2bUS$34.3b30.4x46.2x4.8x
Fri, 09 Jan 2026US$1.5tUS$339.2bUS$32.2b29.4x46.8x4.4x
Sun, 07 Dec 2025US$1.5tUS$338.2bUS$32.8b28.8x46.8x4.5x
Tue, 04 Nov 2025US$1.5tUS$336.9bUS$31.9b27.4x47.6x4.5x
Thu, 02 Oct 2025US$1.5tUS$331.8bUS$30.9b28.6x49.8x4.6x
Sat, 30 Aug 2025US$1.5tUS$331.6bUS$30.9b30.1x49.9x4.6x
Mon, 28 Jul 2025US$1.5tUS$326.4bUS$30.1b30.3x50.8x4.7x
Wed, 25 Jun 2025US$1.5tUS$326.1bUS$29.7b29.8x50.8x4.6x
Fri, 23 May 2025US$1.5tUS$326.6bUS$29.8b27.4x49.2x4.5x
Sun, 20 Apr 2025US$1.5tUS$321.6bUS$28.7b29.9x50.8x4.5x
Tue, 18 Mar 2025US$1.5tUS$319.9bUS$28.9b32.1x52.3x4.7x
Thu, 13 Feb 2025US$1.6tUS$321.3bUS$27.9b32.5x56.6x4.9x
Sat, 11 Jan 2025US$1.5tUS$320.0bUS$27.4b29.9x54.8x4.7x
Mon, 09 Dec 2024US$1.6tUS$320.0bUS$27.4b34.4x59.5x5.1x
Wed, 06 Nov 2024US$1.6tUS$318.1bUS$27.3b34.6x58.9x5x
Fri, 04 Oct 2024US$1.6tUS$314.7bUS$26.6b33.5x61.4x5.2x
Sun, 01 Sep 2024US$1.6tUS$314.8bUS$27.1b34.3x58.9x5.1x
Tue, 30 Jul 2024US$1.5tUS$311.7bUS$25.9b32.8x58.3x4.8x
Thu, 27 Jun 2024US$1.4tUS$306.5bUS$27.7b30.4x49.9x4.5x
Sat, 25 May 2024US$1.4tUS$306.4bUS$27.6b30.6x49.4x4.5x
Mon, 22 Apr 2024US$1.3tUS$306.8bUS$28.0b29.2x46.9x4.3x
Wed, 20 Mar 2024US$1.4tUS$306.1bUS$28.2b28.9x49.7x4.6x
Fri, 16 Feb 2024US$1.4tUS$307.7bUS$27.2b30.8x50.3x4.4x
Sun, 14 Jan 2024US$1.5tUS$323.0bUS$26.6b31.3x56.1x4.6x
Tue, 12 Dec 2023US$1.4tUS$323.1bUS$26.5b29.7x54x4.4x
Thu, 09 Nov 2023US$1.3tUS$324.1bUS$27.3b27.2x47.9x4x
Sat, 07 Oct 2023US$1.3tUS$325.2bUS$31.5b26.3x40.7x3.9x
Mon, 04 Sep 2023US$1.4tUS$319.6bUS$27.6b29.2x49.3x4.3x
Wed, 02 Aug 2023US$1.4tUS$326.2bUS$34.1b27.4x42.5x4.4x
Fri, 30 Jun 2023US$1.4tUS$322.8bUS$34.0b24.2x42x4.4x
Sun, 28 May 2023US$1.3tUS$314.8bUS$35.5b23.2x36.5x4.1x
Price to Earnings Ratio

36.5x


Total Market Cap: US$1.3tTotal Earnings: US$35.5bTotal Revenue: US$314.8bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Real Estate Sector Price to Earnings3Y Average 50x202420252026
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 41.6x which is lower than its 3-year average PE of 50.0x.
  • 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 3.1% per year over the last three years.
  • Revenues for these companies have grown 2.5% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

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

US Market-0.32%
Real Estate0.50%
Hotel and Resort REITs3.92%
REITS2.46%
Retail REITs1.80%
Industrial REITs1.39%
Specialized REITs0.82%
Residential REITs0.76%
Office REITs0.44%
Health Care REITs-0.49%
Real Estate-3.52%
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 346x.
    • Analysts are expecting annual earnings growth of 24.3%, which is higher than its past year's earnings growth of 20.5% 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 0.6% per year.
  • In contrast, the Residential REITs industry is expected to see its earnings decline by 6.7% 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
AMT American TowerUS$184.025.8%
+US$4.7b		-13.9%PB24.3x
PLD PrologisUS$144.681.9%
+US$2.5b		38.2%PB2.5x
CCI Crown CastleUS$92.643.4%
+US$1.3b		-8.7%PE38.9x
SPG Simon Property GroupUS$204.101.8%
+US$1.1b		29.1%PB13.7x
CSGP CoStar GroupUS$34.016.4%
+US$833.0m		-54.0%PE555.5x

Latest News

EQIX
US$1,065.06
Equinix
7D
-1.1%
1Y
24.0%
LAMR
US$151.80
Lamar Advertising
7D
3.5%
1Y
32.1%
DLR
US$190.65
Digital Realty Trust
7D
-1.4%
1Y
14.0%
HST
US$22.30
Host Hotels & Resorts
7D
3.4%
1Y
51.1%
Narrative Update • May 19

HST: Strong Lodging Demand And 2026 Outlook Will Support Cautious Upside

Host Hotels & Resorts' fair value estimate edges up from $22.25 to $22.88 as analysts lift price targets across the sector, citing stronger Q1 lodging demand and RevPAR trends while still flagging macro and geopolitical risks. Analyst Commentary Street research on Host Hotels & Resorts has been active, with multiple firms adjusting price targets following recent earnings and broader lodging sector updates.
CBRE
US$131.12
CBRE Group
7D
-6.8%
1Y
8.5%
Narrative Update • May 19

CBRE: Future Returns Will Reflect Limited AI Disruption And Aggressive Share Repurchases

Analysts trimmed their fair value estimate for CBRE Group by about $3 to $178.33, reflecting a lower future P/E assumption of roughly 22.8x, even as they factor in slightly higher revenue growth and profit margin potential and point to recent research that plays down AI disruption risks to the commercial real estate services model. Analyst Commentary Recent research around CBRE Group centers on how AI, sentiment swings and changing return expectations are feeding into valuation work and risk assessments.
CCI
US$92.64
Crown Castle
7D
3.4%
1Y
-8.7%
O
US$62.24
Realty Income
7D
1.2%
1Y
12.7%
JLL
US$293.03
Jones Lang LaSalle
7D
-5.7%
1Y
36.0%
VTR
US$88.60
Ventas
7D
-1.9%
1Y
39.3%
ZG
US$36.92
Zillow Group
7D
-5.0%
1Y
-42.7%
AMT
US$184.02
American Tower
7D
5.8%
1Y
-13.9%
BEKE
US$18.07
KE Holdings
7D
-7.8%
1Y
-1.6%
Narrative Update • May 15

BEKE: Buybacks And Dividend Decision Will Drive Future Re Rating Potential

Analysts have raised their fair value estimate for KE Holdings to about $21 per share, citing updated assumptions for revenue growth, profit margins, and future P/E that are consistent with a series of recent Buy ratings and $23 price targets from major firms. Analyst Commentary Recent Street research around KE Holdings has concentrated around a cluster of Buy ratings and a series of US$23 price targets, which line up with the updated fair value estimate of about US$21 per share.
PLD
US$144.68
Prologis
7D
1.9%
1Y
38.2%
WELL
US$218.61
Welltower
7D
-0.7%
1Y
47.4%
SPG
US$204.10
Simon Property Group
7D
1.8%
1Y
29.1%
CSGP
US$34.01
CoStar Group
7D
6.4%
1Y
-54.0%
Narrative Update • May 13

CSGP: AI Deployment And Activist Discipline Will Support Residential Margin Recovery

CoStar Group's updated analyst price target framework now points to a lower fair value of $49.32 from $61.42, as analysts recalibrate expectations around revenue growth, profitability, and a more moderate future P/E after a broad wave of target cuts across the Street. Analyst Commentary Recent research has centered on how CoStar Group balances growth investments, particularly around Homes.com and multifamily, with profitability and valuation discipline.