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U.S. Real Estate Sector Analysis

UpdatedAug 03, 2026
DataAggregated Company Financials
Companies267
  • 7D-1.7%
  • 3M4.5%
  • 1Y12.0%
  • YTD11.9%

Over the last 7 days, the Real Estate industry has dropped 2.0%, driven by a pullback from Welltower of 7.0%. Over the past 12 months, the industry was up 12%. As for the next few years, earnings are expected to grow by 9.5% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 03 Aug 2026US$1.7tUS$342.4bUS$39.3b29.5x43.3x5x
Wed, 01 Jul 2026US$1.7tUS$337.8bUS$38.7b30.6x43.7x5x
Fri, 29 May 2026US$1.7tUS$338.8bUS$38.9b29.9x42.5x4.9x
Sun, 26 Apr 2026US$1.6tUS$337.1bUS$35.1b27.7x46.4x4.8x
Tue, 24 Mar 2026US$1.5tUS$334.0bUS$35.2b27.3x42.7x4.5x
Thu, 19 Feb 2026US$1.6tUS$334.8bUS$34.7b29.5x46.7x4.8x
Sat, 17 Jan 2026US$1.6tUS$333.2bUS$32.5b29.9x47.9x4.7x
Mon, 15 Dec 2025US$1.5tUS$338.2bUS$32.8b29.2x46.4x4.5x
Wed, 12 Nov 2025US$1.5tUS$338.1bUS$32.7b29.8x47.1x4.5x
Fri, 10 Oct 2025US$1.5tUS$331.8bUS$31.0b28x49.3x4.6x
Sun, 07 Sep 2025US$1.5tUS$331.6bUS$30.9b29.8x49.8x4.6x
Tue, 05 Aug 2025US$1.5tUS$330.5bUS$30.4b28.9x48.8x4.5x
Thu, 03 Jul 2025US$1.5tUS$325.8bUS$29.9b29.9x49.9x4.6x
Sat, 31 May 2025US$1.5tUS$326.3bUS$29.9b28.9x49.9x4.6x
Mon, 28 Apr 2025US$1.5tUS$322.8bUS$28.5b29.3x51.3x4.5x
Wed, 26 Mar 2025US$1.5tUS$321.5bUS$29.0b30x52.9x4.8x
Fri, 21 Feb 2025US$1.6tUS$324.5bUS$27.7b31.8x57.3x4.9x
Sun, 19 Jan 2025US$1.5tUS$320.1bUS$27.4b31.9x56x4.8x
Tue, 17 Dec 2024US$1.6tUS$320.0bUS$27.4b33.5x58.2x5x
Thu, 14 Nov 2024US$1.6tUS$320.0bUS$27.3b34.6x59x5x
Sat, 12 Oct 2024US$1.6tUS$314.7bUS$26.7b33.3x59.7x5.1x
Mon, 09 Sep 2024US$1.6tUS$314.8bUS$27.1b34.3x58.9x5.1x
Wed, 07 Aug 2024US$1.5tUS$313.4bUS$27.0b33.1x55.2x4.8x
Fri, 05 Jul 2024US$1.4tUS$305.7bUS$27.1b30.7x51.3x4.5x
Sun, 02 Jun 2024US$1.4tUS$306.4bUS$27.5b31x50.7x4.5x
Tue, 30 Apr 2024US$1.3tUS$307.1bUS$28.0b29.7x47.6x4.3x
Thu, 28 Mar 2024US$1.4tUS$306.1bUS$28.0b30.9x50.7x4.6x
Sat, 24 Feb 2024US$1.4tUS$306.1bUS$26.8b29.2x52.2x4.6x
Mon, 22 Jan 2024US$1.5tUS$323.3bUS$26.7b30.8x55x4.5x
Wed, 20 Dec 2023US$1.5tUS$323.1bUS$26.5b30.9x56.8x4.7x
Fri, 17 Nov 2023US$1.4tUS$322.9bUS$26.5b28.3x51.3x4.2x
Sun, 15 Oct 2023US$1.3tUS$325.2bUS$31.5b26.9x41.3x4x
Tue, 12 Sep 2023US$1.4tUS$324.0bUS$31.7b28.4x44x4.3x
Thu, 10 Aug 2023US$1.4tUS$321.9bUS$31.7b30x45.1x4.4x
Price to Earnings Ratio

45.1x


Total Market Cap: US$1.4tTotal Earnings: US$31.7bTotal Revenue: US$321.9bTotal 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 43.3x 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 7.5% per year over the last three years.
  • Revenues for these companies have grown 2.1% 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 Market0.85%
Real Estate-1.75%
Real Estate3.16%
Hotel and Resort REITs0.76%
Residential REITs-0.80%
Specialized REITs-0.80%
Office REITs-1.17%
Industrial REITs-1.73%
Retail REITs-2.03%
REITS-3.62%
Health Care REITs-5.66%
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 349x.
    • Analysts are expecting annual earnings growth of 22.7%, which is lower than the prior year's growth of 37.3% per year.
Forecasted Growth
  • Analysts are most optimistic on the Real Estate industry, expecting annual earnings growth of 26% over the next 5 years.
  • This is better than its past earnings decline of 11% per year.
  • In contrast, the Residential REITs industry is expected to see its earnings decline by 6.2% 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
PSA Public StorageUS$324.170.5%
+US$3.9b		16.2%PB12.5x
AMT American TowerUS$173.364.0%
+US$3.1b		-18.3%PB21.7x
CBRE CBRE GroupUS$146.815.3%
+US$1.7b		-4.6%PE32.7x
JLL Jones Lang LaSalleUS$355.039.1%
+US$1.2b		33.8%PE16.3x
BEKE KE HoldingsUS$16.956.7%
+US$1.2b		-6.9%PE38.6x

Latest News

PSA
US$324.17
Public Storage
7D
0.5%
1Y
16.2%
VTR
US$93.51
Ventas
7D
-7.0%
1Y
38.5%
Narrative Update • Aug 01

VTR: Index Additions And Earnings Outlook Will Support Steady 2026 Position

Analysts have lifted their implied fair value estimate for Ventas from about $96.80 to roughly $99.05, reflecting updated assumptions that combine slightly stronger revenue growth expectations with a lower profit margin outlook and a higher future P/E multiple. What’s in the News for Ventas Ventas revised its full year 2026 attributable net income per share guidance to a range of $0.58 to $0.63, with a midpoint of $0.61.
JLL
US$355.03
Jones Lang LaSalle
7D
9.1%
1Y
33.8%
Narrative Update • Jul 31

JLL: Sector Recovery And AI Resilience Will Drive Future Upside Potential

The analyst fair value estimate for Jones Lang LaSalle has moved from $447 to $500. The higher target is linked to expectations for sustained double digit growth in commercial real estate services, a modestly lower discount rate, and slightly higher assumptions for revenue growth, profit margins, and future P/E, while some firms continue to question AI related concerns and recent conviction list changes.
CBRE
US$146.81
CBRE Group
7D
5.3%
1Y
-4.6%
Narrative Update • Jul 31

CBRE: AI Fears Will Be Tempered By Data Centers And Leasing Strength

Analysts have lifted the CBRE Group fair value estimate from $144.94 to $151.87, reflecting updated assumptions for higher revenue growth, a slightly lower discount rate, and a more conservative future P/E multiple. Analyst Commentary Recent Street research on CBRE Group points to a mix of optimism and caution, with several firms adjusting price targets and refining views on how risks such as AI disruption and investor sentiment could influence the stock's valuation.
WELL
US$234.44
Welltower
7D
-7.0%
1Y
41.0%
DLR
US$188.52
Digital Realty Trust
7D
-5.3%
1Y
9.5%
FRMI
US$5.69
Fermi
7D
-23.1%
1Y
n/a
Narrative Update • Jul 30

FRMI: First Project Matador Lease And Turbine Milestone Will Drive Repricing

Fermi's analyst price target has shifted lower, with new estimates around $17 that reflect updated assumptions on the timing of tenant signings, higher expected capex for turnkey requirements, and analysts' continued view of the stock as a high-risk, high-reward, pre-revenue story. Analyst Commentary Recent Street research on Fermi shows a mix of optimism about potential tenant signings and caution around execution risk, valuation resets, and the timing of cash flows for this pre revenue story.
EQIX
US$1,019.28
Equinix
7D
-6.0%
1Y
32.1%
AMT
US$173.36
American Tower
7D
4.0%
1Y
-18.3%
ZG
US$34.69
Zillow Group
7D
13.1%
1Y
-55.0%
SBAC
US$180.98
SBA Communications
7D
4.3%
1Y
-20.8%
Narrative Update • Jul 23

SBAC: Post 2026 Upside Will Depend On Tower Leasing Recovery

Analysts have trimmed their fair value estimate for SBA Communications to $229.85 from $235.10 as a higher discount rate and a slightly lower projected profit margin offset expectations for steady tower earnings and long term benefits from mobile data growth and carrier densification. Analyst Commentary Recent Street research on SBA Communications shows a mix of optimism about long term growth drivers and caution around nearer term execution and capital structure risks.
PLD
US$144.61
Prologis
7D
-2.0%
1Y
37.8%
BEKE
US$16.95
KE Holdings
7D
6.7%
1Y
-6.9%
O
US$63.87
Realty Income
7D
-2.6%
1Y
12.9%
Seeking Alpha • Jul 20

Realty Income: The Best REIT To Buy Now, Here's Why

Summary Realty Income is the best REIT to buy now given its portfolio structure and risk-adjusted return potential. O's portfolio boasts exceptional diversification, resilient occupancy, and a weighted average lease term of 8.7 years, supporting cash flow predictability. International expansion, especially in Europe and data centers, significantly expands O’s TAM and provides access to differentiated growth and financing opportunities. O trades at 15x forward P/FFO with a ~5% yield, offering double-digit upside potential. Read the full article on Seeking Alpha
IRM
US$122.32
Iron Mountain
7D
-4.7%
1Y
29.9%
WY
US$25.03
Weyerhaeuser
7D
4.6%
1Y
-0.2%
Narrative Update • Jul 09

WY: Higher Margins And Buybacks Will Support A Rerating

Analysts have raised their price target on Weyerhaeuser from $26.00 to $27.00, citing updated assumptions around revenue growth, profit margins, and a lower future P/E multiple in their valuation work. What’s in the News for Weyerhaeuser From January 1, 2026 to March 31, 2026, Weyerhaeuser repurchased 409,043 shares for US$10 million, representing 0.06% of the company, under its existing buyback program.