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U.S. Real Estate Sector Analysis

UpdatedApr 28, 2026
DataAggregated Company Financials
Companies283
  • 7D-2.1%
  • 3M4.3%
  • 1Y8.0%
  • YTD6.5%

Over the last 7 days, the Real Estate industry has dropped 2.1%, driven by Prologis declining 3.5%. In the past year, the industry has gained 8.0%. Earnings are forecast to grow by 8.7% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 28 Apr 2026US$1.6tUS$337.6bUS$35.1b27.8x46.4x4.8x
Thu, 26 Mar 2026US$1.5tUS$333.3bUS$35.1b27.3x42.9x4.5x
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
Price to Earnings Ratio

37.5x


Total Market Cap: US$1.3tTotal Earnings: US$35.5bTotal Revenue: US$316.9bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Real Estate Sector Price to Earnings3Y Average 49.9x202420252026
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 46.4x which is lower than its 3-year average PE of 49.9x.
  • 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 remained mostly flat over the last three years.
  • Meanwhile revenues for these companies have grown 2.1% 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 and as a result, profits have held steady.

Industry Trends

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

US Market0.72%
Real Estate-2.08%
Office REITs-0.074%
Health Care REITs-0.59%
Hotel and Resort REITs-1.57%
REITS-2.05%
Residential REITs-2.11%
Specialized REITs-2.16%
Retail REITs-2.34%
Industrial REITs-3.14%
Real Estate-3.31%
Industry PE
  • Investors are most optimistic about the Health Care REITs industry which is trading above its 3-year average PE ratio of 343x.
    • Analysts are expecting annual earnings growth of 28.3%, 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 15% 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
WELL WelltowerUS$210.000.3%
+US$387.5m		40.9%PB3.5x
OHI Omega Healthcare InvestorsUS$46.670.3%
+US$151.4m		22.8%PB2.7x
JOE St. JoeUS$71.323.4%
+US$133.5m		67.2%PE35.5x
PECO Phillips EdisonUS$40.182.2%
+US$107.1m		14.8%PB2.2x
FOR Forestar GroupUS$28.367.2%
+US$100.0m		45.2%PE8.6x

Latest News

DLR
US$196.34
Digital Realty Trust
7D
-3.7%
1Y
22.4%
PECO
US$40.18
Phillips Edison
7D
2.2%
1Y
14.8%
O
US$62.75
Realty Income
7D
-3.3%
1Y
9.6%

Realty Income: Improving Real Returns

Apr 27
OHI
US$46.67
Omega Healthcare Investors
7D
0.3%
1Y
22.8%
ILPT
US$7.58
Industrial Logistics Properties Trust
7D
19.6%
1Y
185.0%

Leasing Momentum And Hawaii Portfolio Strength Will Support A Stronger Long Term Outlook

Catalysts About Industrial Logistics Properties Trust Industrial Logistics Properties Trust owns and leases industrial and logistics real estate across the U.S., including a large footprint in Hawaii. What are the underlying business or industry changes driving this perspective?
CCI
US$83.44
Crown Castle
7D
-4.7%
1Y
-17.3%

Crown Castle: The 2026 Reset Paves The Way For A Re-Rating

Apr 26
AMT
US$175.30
American Tower
7D
-3.5%
1Y
-17.0%

American Tower (AMT): Scaling the 5G Dense Wave and AI Data Centers Toward a High-Conviction Value Recovery

American Tower (AMT) , one of the world’s largest global Real Estate Investment Trusts (REITs) and the preeminent landlord of the digital age, enters the weekend of Saturday, April 25, 2026 , in a state of calculated expansion. The company is set to release its Q1 2026 earnings report on Tuesday, April 28, 2026, before the market opens.
CBRE
US$146.22
CBRE Group
7D
-4.2%
1Y
20.5%
IIPR
US$55.76
Innovative Industrial Properties
7D
4.9%
1Y
3.7%
PLD
US$140.02
Prologis
7D
-3.5%
1Y
35.5%

PLD: Fair Outlook Weighs Cycle Turn Against Macro And Legal Uncertainties

Analysts have raised the Prologis fair value estimate to $148.25 from $141.90, reflecting a series of recent price target increases. These changes reference stable industrial REIT fundamentals, modest adjustments to growth and margin assumptions, and slightly higher future P/E expectations.
FOR
US$28.36
Forestar Group
7D
7.2%
1Y
45.2%
SPG
US$201.29
Simon Property Group
7D
-3.0%
1Y
27.0%

SPG: Future Returns Will Reflect Healthy Malls Buybacks And Leadership Change Risks

Analysts have nudged their blended price target for Simon Property Group higher to $208.55 from $206.30. This reflects recent research that points to updated retail REIT models after Q4 results, stronger mall operating metrics and a reassessment of valuation across the group.
IRM
US$112.75
Iron Mountain
7D
-6.5%
1Y
27.4%

IRM: Fine Tuning Discount Rate And P/E Will Shape Forward Compounding Potential

Analysts made a marginal adjustment to Iron Mountain's fair value estimate, trimming it by about $0.09 to reflect a slightly lower discount rate and a modestly revised future P/E assumption, following the recent $1 increase in the Street's price target to $127. Analyst Commentary Bullish analysts are treating the recent $1 lift in the Street price target to $127 as a modest but supportive signal for Iron Mountain, with the internal fair value adjustment of about $0.09 largely viewed as a technical clean up rather than a change in fundamental conviction.
JOE
US$71.32
St. Joe
7D
3.4%
1Y
67.2%
CURB
US$28.33
Curbline Properties
7D
2.5%
1Y
22.2%
WELL
US$210.00
Welltower
7D
0.3%
1Y
40.9%

WELL: Data Partnership And Higher Margins Will Support Future Upside Potential

Analysts now see Welltower's fair value at $260.00, compared with $251.51 previously. This reflects their updated views on growth, margins, discount rate and future P/E assumptions.