Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

U.S. Real Estate Sector Analysis

UpdatedMar 10, 2026
DataAggregated Company Financials
Companies276
  • 7D-2.4%
  • 3M4.8%
  • 1Y2.0%
  • YTD5.2%

Over the last 7 days, the Real Estate industry has dropped 2.3%, driven by Prologis declining 5.3%. Meanwhile, CoStar Group actually outperformed within the industry, gaining 7.2% in the last week. As for the longer term, the industry's performance has been flat for the past year. Earnings are forecast to grow by 9.3% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 10 Mar 2026US$1.6tUS$335.6bUS$35.2b28.6x45.2x4.7x
Thu, 05 Feb 2026US$1.5tUS$332.3bUS$34.3b29.4x44.5x4.6x
Sat, 03 Jan 2026US$1.5tUS$339.2bUS$32.2b29x46.8x4.4x
Mon, 01 Dec 2025US$1.6tUS$338.2bUS$32.8b29.5x47.5x4.6x
Wed, 29 Oct 2025US$1.6tUS$334.4bUS$30.6b28.8x51.5x4.7x
Fri, 26 Sep 2025US$1.5tUS$331.7bUS$30.9b28.5x49.5x4.6x
Sun, 24 Aug 2025US$1.5tUS$331.3bUS$31.0b29.9x49.9x4.7x
Tue, 22 Jul 2025US$1.5tUS$326.0bUS$29.6b29.9x50.6x4.6x
Thu, 19 Jun 2025US$1.5tUS$326.3bUS$29.9b29.4x49.8x4.6x
Sat, 17 May 2025US$1.5tUS$326.5bUS$29.8b28.8x50.3x4.6x
Mon, 14 Apr 2025US$1.4tUS$321.4bUS$28.7b28.9x48.5x4.3x
Wed, 12 Mar 2025US$1.6tUS$326.5bUS$30.0b31.8x52.7x4.8x
Fri, 07 Feb 2025US$1.6tUS$320.5bUS$28.3b31.9x55.4x4.9x
Sun, 05 Jan 2025US$1.5tUS$320.0bUS$27.4b31.8x55.9x4.8x
Tue, 03 Dec 2024US$1.7tUS$320.0bUS$27.4b34.9x61x5.2x
Thu, 31 Oct 2024US$1.6tUS$316.3bUS$26.6b34.3x60.9x5.1x
Sat, 28 Sep 2024US$1.6tUS$315.7bUS$27.2b34x60.5x5.2x
Mon, 26 Aug 2024US$1.6tUS$314.6bUS$27.1b33.9x58x5x
Wed, 24 Jul 2024US$1.5tUS$305.2bUS$26.9b33.2x55.4x4.9x
Fri, 21 Jun 2024US$1.4tUS$306.5bUS$27.7b30.3x50.2x4.5x
Sun, 19 May 2024US$1.4tUS$306.9bUS$27.9b30.9x50.8x4.6x
Tue, 16 Apr 2024US$1.4tUS$306.7bUS$27.8b28.6x48.9x4.4x
Thu, 14 Mar 2024US$1.4tUS$305.7bUS$28.1b29.4x50.8x4.7x
Sat, 10 Feb 2024US$1.4tUS$306.0bUS$26.3b30x52.5x4.5x
Mon, 08 Jan 2024US$1.5tUS$323.0bUS$26.6b30.9x55.8x4.6x
Wed, 06 Dec 2023US$1.4tUS$323.0bUS$26.5b29.3x54.4x4.5x
Fri, 03 Nov 2023US$1.3tUS$325.9bUS$26.6b27.8x47.5x3.9x
Sun, 01 Oct 2023US$1.3tUS$325.2bUS$31.5b26.8x41.4x4x
Tue, 29 Aug 2023US$1.4tUS$323.2bUS$31.2b28.5x44.2x4.3x
Thu, 27 Jul 2023US$1.5tUS$326.3bUS$34.5b26.4x42.3x4.5x
Sat, 24 Jun 2023US$1.4tUS$322.9bUS$34.0b23x40.3x4.2x
Mon, 22 May 2023US$1.3tUS$314.9bUS$35.5b23.4x36.9x4.2x
Wed, 19 Apr 2023US$1.4tUS$316.3bUS$37.7b24.6x35.9x4.3x
Fri, 17 Mar 2023US$1.3tUS$315.4bUS$38.1b23.6x35.2x4.3x
Price to Earnings Ratio

35.2x


Total Market Cap: US$1.3tTotal Earnings: US$38.1bTotal Revenue: US$315.4bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Real Estate Sector Price to Earnings3Y Average 49.8x202420252026
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 45.2x which is lower than its 3-year average PE of 49.8x.
  • 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 2.6% per year 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, which has decreased profits.

Industry Trends

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

US Market-1.50%
Real Estate-2.45%
Health Care REITs-1.16%
Residential REITs-1.29%
REITS-1.89%
Specialized REITs-2.19%
Real Estate-2.22%
Office REITs-2.35%
Retail REITs-3.26%
Hotel and Resort REITs-3.44%
Industrial REITs-4.94%
Industry PE
  • Investors are most optimistic about the Health Care REITs industry which is trading above its 3-year average PE ratio of 317x.
    • Analysts are expecting annual earnings growth of 28.1%, which is higher than its past year's earnings growth of 12.9% per year.
Forecasted Growth
  • Analysts are most optimistic on the Real Estate industry, expecting annual earnings growth of 30% over the next 5 years.
  • This is better than its past earnings growth rate of 1.4% per year.
  • In contrast, the Office REITs industry is expected to see its earnings decline by 22% 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
CSGP CoStar GroupUS$48.427.2%
+US$1.4b		-39.4%PE2903.8x
ZG Zillow GroupUS$45.143.3%
+US$345.5m		-35.7%PE470.9x
DLR Digital Realty TrustUS$179.650.5%
+US$329.9m		23.4%PB2.8x
SLG SL Green RealtyUS$39.144.1%
+US$110.1m		-34.3%PB0.8x
OPEN Opendoor TechnologiesUS$5.082.2%
+US$105.4m		357.7%PS1.1x

Latest News

PLD
US$135.15
Prologis
7D
-5.3%
1Y
14.7%
CCI
US$89.73
Crown Castle
7D
0.2%
1Y
-8.9%
DLR
US$179.65
Digital Realty Trust
7D
0.5%
1Y
23.4%
AMT
US$186.64
American Tower
7D
-1.9%
1Y
-12.4%
CSGP
US$48.42
CoStar Group
7D
7.2%
1Y
-39.4%

CSGP: Activist Pressure And Buybacks Will Support Residential Investment Turnaround

Analysts have reduced their CoStar Group price target in aggregate, with our fair value estimate moving about $12.63 lower to $65.42 as they factor in softer bookings, slightly lower projected revenue growth and margin assumptions, and a more cautious view on medium term expansion, despite solid recent results and maintained long term guidance. Analyst Commentary Street research has turned more cautious on CoStar Group, with many firms lowering price targets while still acknowledging solid Q4 execution and reaffirmed long term guidance.
SPG
US$192.83
Simon Property Group
7D
-5.1%
1Y
16.7%

SPG: Future Returns Will Reflect Mall Strength And Mixed 2026 REIT Sentiment

Analysts have nudged their blended fair value estimate for Simon Property Group to about $205 from roughly $202, reflecting updated Q4 models that factor in slightly lower discount rates, modestly higher revenue growth assumptions, a revised profit margin outlook, and Street price target increases across several firms. Analyst Commentary Recent Street research on Simon Property Group has centered on refreshed models after Q4 reporting season, updated views on mall operating metrics, and shifting expectations for the broader retail REIT group.
EQIX
US$944.91
Equinix
7D
-2.2%
1Y
13.8%
O
US$64.94
Realty Income
7D
-3.9%
1Y
11.0%

Adjusted DDM stable growth lower end

Adjusted the lower end of DDM stable growth to be 2%.
CBRE
US$136.94
CBRE Group
7D
-5.5%
1Y
8.8%
OPEN
US$5.08
Opendoor Technologies
7D
2.2%
1Y
357.7%

OPEN: Reset Will Still Face Profitability Test Before Sentiment Improves

Analysts have raised their fair value estimate on Opendoor Technologies by $0.30, reflecting updated assumptions for revenue growth, profit margins, and future P/E after recent research highlighted improving acquisition trends and cautiously more constructive margin expectations, even as it remains early to judge the reset. Analyst Commentary Recent research has taken a cautious stance on Opendoor Technologies, with some firms highlighting that the current reset remains unproven in the reported numbers.
DEI
US$10.09
Douglas Emmett
7D
3.8%
1Y
-39.9%

Future Coastal Multifamily Projects Will Drive A Stronger Long Term Outlook

Catalysts About Douglas Emmett Douglas Emmett is a REIT focused on owning and operating office and multifamily properties in supply constrained, high income coastal submarkets, primarily on the Westside of Los Angeles and in Honolulu. What are the underlying business or industry changes driving this perspective?
NMRK
US$14.49
Newmark Group
7D
2.2%
1Y
15.6%

NMRK: AI Scare Trade Volatility Will Set Up Future Re-Rating Potential

Analysts have trimmed their price target on Newmark Group to $18 from $19, citing updated fair value estimates, slightly lower profit margin assumptions, and a more conservative future P/E multiple. They still view the shares as attractive despite recent volatility.
SLG
US$39.14
SL Green Realty
7D
4.1%
1Y
-34.3%
WELL
US$207.68
Welltower
7D
-1.2%
1Y
42.1%

WELL: Medium Term Guidance And Updated Assumptions Will Shape Fair Value

Analysts have lifted their price target for Welltower from about $145 to roughly $191, citing updated assumptions for fair value, discount rate, revenue growth, profit margin and future P/E, which together support a higher long term valuation framework. What's in the News Welltower issued earnings guidance for the year ending December 31, 2026, giving investors a frame of reference for its medium term outlook.
FRMI
US$7.98
Fermi
7D
-21.8%
1Y
n/a
ZG
US$45.14
Zillow Group
7D
3.3%
1Y
-35.7%

ZG: AI And Listing Rules Will Shape Future Upside Potential

Our updated fair value estimate for Zillow Group has been reduced by about $11 to $74.78 per share. This reflects a wave of recent target cuts from multiple firms as analysts factor in slightly softer revenue growth assumptions, a lower future P/E multiple, and ongoing questions around listings market structure and litigation, even as margin expectations in our model move modestly higher.