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U.S. Real Estate Sector Analysis

UpdatedJul 26, 2026
DataAggregated Company Financials
Companies266
  • 7D0.8%
  • 3M7.1%
  • 1Y11.4%
  • YTD14.0%

Last week, the Real Estate industry hasn't moved much but Digital Realty Trust is up 14% in that time. The past year has been better, since the industry has gained 11% in that time. As for the next few years, earnings are expected to grow by 9.6% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 27 Jul 2026US$1.7tUS$336.4bUS$37.9b30.2x45.6x5.1x
Wed, 24 Jun 2026US$1.6tUS$337.8bUS$38.7b29.7x42.4x4.9x
Fri, 22 May 2026US$1.6tUS$339.0bUS$39.0b29.6x42.2x4.9x
Sun, 19 Apr 2026US$1.7tUS$334.9bUS$35.0b28.6x47.3x4.9x
Tue, 17 Mar 2026US$1.6tUS$335.3bUS$35.4b27.8x44.1x4.6x
Thu, 12 Feb 2026US$1.6tUS$334.4bUS$34.4b30.4x46.6x4.8x
Sat, 10 Jan 2026US$1.5tUS$333.2bUS$32.5b29.1x46.9x4.6x
Mon, 08 Dec 2025US$1.5tUS$338.2bUS$32.8b28.8x46.8x4.5x
Wed, 05 Nov 2025US$1.5tUS$337.6bUS$32.1b27.3x47.3x4.5x
Fri, 03 Oct 2025US$1.6tUS$331.8bUS$31.0b28.6x50.4x4.7x
Sun, 31 Aug 2025US$1.5tUS$331.6bUS$30.9b30.1x50.1x4.7x
Tue, 29 Jul 2025US$1.5tUS$326.3bUS$30.1b30.1x50.8x4.7x
Thu, 26 Jun 2025US$1.5tUS$326.1bUS$29.7b29.5x50.5x4.6x
Sat, 24 May 2025US$1.5tUS$326.6bUS$29.8b27.4x49x4.5x
Mon, 21 Apr 2025US$1.5tUS$321.6bUS$28.6b29.9x50.8x4.5x
Wed, 19 Mar 2025US$1.5tUS$321.5bUS$28.9b31.9x53.2x4.8x
Fri, 14 Feb 2025US$1.6tUS$322.7bUS$27.9b33x56.1x4.9x
Sun, 12 Jan 2025US$1.5tUS$320.0bUS$27.4b29.9x53.5x4.6x
Tue, 10 Dec 2024US$1.6tUS$320.0bUS$27.4b34.7x59.5x5.1x
Thu, 07 Nov 2024US$1.6tUS$318.0bUS$27.4b34.4x59.2x5.1x
Sat, 05 Oct 2024US$1.6tUS$314.6bUS$26.6b33.2x61.1x5.2x
Mon, 02 Sep 2024US$1.6tUS$314.8bUS$27.1b34.3x58.9x5.1x
Wed, 31 Jul 2024US$1.5tUS$311.9bUS$26.1b33x58.1x4.9x
Fri, 28 Jun 2024US$1.4tUS$306.5bUS$27.7b30.7x49.8x4.5x
Sun, 26 May 2024US$1.4tUS$306.4bUS$27.6b30.6x49.5x4.5x
Tue, 23 Apr 2024US$1.3tUS$306.8bUS$28.0b29.2x46.9x4.3x
Thu, 21 Mar 2024US$1.4tUS$306.1bUS$28.2b29.3x49.7x4.6x
Sat, 17 Feb 2024US$1.4tUS$306.4bUS$27.8b30x50.3x4.6x
Mon, 15 Jan 2024US$1.5tUS$323.0bUS$26.6b31.3x56.1x4.6x
Wed, 13 Dec 2023US$1.4tUS$323.1bUS$26.5b29.5x54x4.4x
Fri, 10 Nov 2023US$1.3tUS$323.9bUS$27.1b26.8x48.3x4x
Sun, 08 Oct 2023US$1.3tUS$325.2bUS$31.5b26.3x40.7x3.9x
Tue, 05 Sep 2023US$1.4tUS$319.6bUS$27.6b29.2x49.3x4.3x
Thu, 03 Aug 2023US$1.4tUS$325.5bUS$34.1b27.4x42.2x4.4x
Price to Earnings Ratio

42.2x


Total Market Cap: US$1.4tTotal Earnings: US$34.1bTotal Revenue: US$325.5bTotal 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 45.6x which is lower than its 3-year average PE of 50.2x.
  • The 3-year average PS ratio of 4.6x is lower than the industry's current PS ratio of 5.1x.
Past Earnings Growth
  • The earnings for companies in the Real Estate industry have grown 3.5% 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 Market-1.05%
Real Estate0.76%
Specialized REITs3.25%
Health Care REITs3.18%
Hotel and Resort REITs2.27%
Retail REITs-0.16%
Office REITs-0.20%
Residential REITs-0.61%
REITS-0.95%
Industrial REITs-1.89%
Real Estate-4.69%
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 24.2%, 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 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 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
DLR Digital Realty TrustUS$199.0814.5%
+US$9.3b		11.9%PB2.8x
EQIX EquinixUS$1.08k6.3%
+US$6.3b		35.3%PB7.5x
WELL WelltowerUS$252.073.6%
+US$6.2b		56.0%PB4.1x
VTR VentasUS$100.534.6%
+US$2.2b		51.3%PB3.7x
IRM Iron MountainUS$128.313.6%
+US$1.3b		29.2%PE140.2x

Latest News

PSA
US$322.48
Public Storage
7D
1.4%
1Y
12.1%
FRMI
US$7.40
Fermi
7D
22.3%
1Y
n/a
DLR
US$199.08
Digital Realty Trust
7D
14.5%
1Y
11.9%
LINE
US$41.42
Lineage
7D
-7.1%
1Y
-5.0%
Narrative Update • Jul 24

LINE: Index Inclusion And Margin Expectations Will Shape Future Risk Profile

Analysts have lifted their Lineage price target slightly to about $44.26 from $43.00, reflecting updated assumptions around fair value, discount rate and future P/E, while keeping other core inputs broadly consistent. What’s in the News for Lineage Lineage, Inc.
CCI
US$74.90
Crown Castle
7D
-5.4%
1Y
-32.8%
Narrative Update • Jul 23

CCI: Tower Refocus And Buybacks Will Support Future Share Price

Analysts have trimmed their fair value estimate for Crown Castle to about $96 per share from roughly $99, reflecting lower Street price targets in the $85 to $95 range as they balance mixed quarterly results with expectations for a slower near term growth profile and potential improvement in the longer term. Analyst Commentary Street research on Crown Castle highlights a split view, with some focusing on the potential for improved fundamentals over time and others pointing to current headwinds that weigh on valuation and growth expectations.
CSGP
US$27.66
CoStar Group
7D
-7.1%
1Y
-70.2%
SBAC
US$173.57
SBA Communications
7D
-6.5%
1Y
-25.8%
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$147.63
Prologis
7D
-1.4%
1Y
33.9%
SBRA
US$22.36
Sabra Health Care REIT
7D
11.2%
1Y
22.7%
WELL
US$252.07
Welltower
7D
3.6%
1Y
56.0%
Narrative Update • Jul 22

WELL: Premium Pricing And Dividend Growth Will Support Future Upside Potential

Analysts have adjusted their price target for Welltower to $280.00, reflecting updated assumptions around the discount rate, revenue growth, profit margins, and future P/E expectations. What’s in the News for Welltower Recent coverage highlights that Welltower, as a large senior housing REIT, has reported strong NOI and NFFO growth alongside Q1 2026 results.
BEKE
US$15.89
KE Holdings
7D
-8.7%
1Y
-18.6%
COMP
US$11.07
Compass
7D
-7.8%
1Y
53.3%
IRM
US$128.31
Iron Mountain
7D
3.6%
1Y
29.2%
EQIX
US$1,084.24
Equinix
7D
6.3%
1Y
35.3%
VTR
US$100.53
Ventas
7D
4.6%
1Y
51.3%
Seeking Alpha • Jul 12

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
AMT
US$166.67
American Tower
7D
-2.0%
1Y
-27.5%