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U.S. Real Estate Sector Analysis

UpdatedSep 05, 2025
DataAggregated Company Financials
Companies278
  • 7D-0.1%
  • 3M2.5%
  • 1Y-2.8%
  • YTD3.5%

Last week, the Real Estate industry hasn't moved much but Opendoor Technologies is up 40% in that time. Furthermore, the industry has been flat for the past year as well. Earnings are forecast to grow by 12% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 06 Sep 2025US$1.5tUS$331.5bUS$30.9b29.7x49.4x4.6x
Mon, 04 Aug 2025US$1.5tUS$330.4bUS$30.4b28.7x48.8x4.5x
Wed, 02 Jul 2025US$1.5tUS$326.1bUS$29.7b29.3x49.8x4.5x
Fri, 30 May 2025US$1.5tUS$326.5bUS$29.9b28.8x49.5x4.5x
Sun, 27 Apr 2025US$1.5tUS$322.8bUS$28.5b29.3x51.3x4.5x
Tue, 25 Mar 2025US$1.5tUS$321.5bUS$28.9b31.4x52x4.7x
Thu, 20 Feb 2025US$1.6tUS$323.0bUS$28.0b32.2x56.4x4.9x
Sat, 18 Jan 2025US$1.5tUS$320.1bUS$27.4b31.9x55.9x4.8x
Mon, 16 Dec 2024US$1.6tUS$320.0bUS$27.4b33.8x58.2x5x
Wed, 13 Nov 2024US$1.6tUS$319.3bUS$27.3b34.1x59.6x5.1x
Fri, 11 Oct 2024US$1.6tUS$314.7bUS$26.7b33x60.1x5.1x
Sun, 08 Sep 2024US$1.6tUS$314.8bUS$27.1b34.3x58.9x5.1x
Tue, 06 Aug 2024US$1.5tUS$313.0bUS$27.0b32.6x56.9x4.9x
Thu, 04 Jul 2024US$1.4tUS$305.7bUS$27.1b30.7x51.3x4.5x
Sat, 01 Jun 2024US$1.4tUS$306.4bUS$27.5b31.3x49.7x4.5x
Mon, 29 Apr 2024US$1.3tUS$307.1bUS$28.0b29.1x47.6x4.3x
Wed, 27 Mar 2024US$1.4tUS$306.1bUS$28.0b30.8x49.8x4.6x
Fri, 23 Feb 2024US$1.4tUS$305.7bUS$26.5b29.9x52.8x4.6x
Sun, 21 Jan 2024US$1.5tUS$323.3bUS$26.7b30.8x54.4x4.5x
Tue, 19 Dec 2023US$1.5tUS$323.1bUS$26.5b30.9x56.7x4.7x
Thu, 16 Nov 2023US$1.4tUS$322.9bUS$26.5b28.4x51.3x4.2x
Sat, 14 Oct 2023US$1.3tUS$325.2bUS$31.5b26.9x41.3x4x
Mon, 11 Sep 2023US$1.4tUS$323.9bUS$31.7b28.5x43.1x4.2x
Wed, 09 Aug 2023US$1.4tUS$323.1bUS$31.9b29.8x44.8x4.4x
Fri, 07 Jul 2023US$1.4tUS$325.0bUS$34.4b24.3x41x4.3x
Sun, 04 Jun 2023US$1.3tUS$314.8bUS$35.5b24.2x37.7x4.3x
Tue, 02 May 2023US$1.3tUS$316.3bUS$35.9b23.7x37.4x4.3x
Thu, 30 Mar 2023US$1.3tUS$315.6bUS$38.2b23.6x34.4x4.2x
Sat, 25 Feb 2023US$1.4tUS$307.5bUS$38.8b24.3x35.9x4.5x
Mon, 23 Jan 2023US$1.4tUS$311.3bUS$44.4b25x31.9x4.5x
Wed, 21 Dec 2022US$1.3tUS$311.1bUS$45.2b23.5x29.2x4.2x
Fri, 18 Nov 2022US$1.4tUS$310.9bUS$44.5b24.4x30.3x4.3x
Sun, 16 Oct 2022US$1.2tUS$307.4bUS$41.3b23.2x29.1x3.9x
Tue, 13 Sep 2022US$1.5tUS$307.5bUS$41.4b28.1x36.6x4.9x
Price to Earnings Ratio

36.6x


Total Market Cap: US$1.5tTotal Earnings: US$41.4bTotal Revenue: US$307.5bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Real Estate Sector Price to Earnings3Y Average 47.1x202320242025
Current Industry PE
  • Investors are relatively neutral on the American Real Estate industry at the moment, indicating that they anticipate long term growth rates to remain steady.
  • The industry is trading close to its 3-year average PE ratio of 47.1x.
  • The industry is trading close to its 3-year average PS ratio of 4.5x.
Past Earnings Growth
  • The earnings for companies in the Real Estate industry have declined 9.2% per year over the last three years.
  • Meanwhile revenues for these companies have grown 2.5% 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-0.008%
Real Estate-0.12%
Office REITs3.40%
Hotel and Resort REITs1.74%
Real Estate0.71%
Retail REITs0.57%
REITS0.49%
Health Care REITs0.36%
Industrial REITs-0.23%
Residential REITs-0.28%
Specialized REITs-1.60%
Industry PE
  • Investors are most optimistic about the Health Care REITs industry which is trading above its 3-year average PE ratio of 289x.
    • Analysts are expecting annual earnings growth of 24.4%, which is lower than the prior year's growth of 39.0% per year.
Forecasted Growth
  • Analysts are most optimistic on the Real Estate industry, expecting annual earnings growth of 38% over the next 5 years.
  • This is better than its past earnings growth rate of 14% per year.
  • In contrast, the Office REITs industry is expected to see its earnings decline by 14% 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
BEKE KE HoldingsUS$18.998.0%
+US$1.6b		30.0%PE41x
OPEN Opendoor TechnologiesUS$6.6549.4%
+US$1.6b		251.9%PS0.9x
ZG Zillow GroupUS$84.784.1%
+US$799.5m		64.5%PS8.6x
EXR Extra Space StorageUS$147.282.6%
+US$785.3m		-15.2%PB2.3x
BXP BXPUS$76.836.0%
+US$684.2m		3.0%PB2.3x

Latest News

EQIX
US$773.68
Equinix
7D
-1.6%
1Y
-5.4%
OPEN
US$6.65
Opendoor Technologies
7D
49.4%
1Y
251.9%
PSA
US$297.80
Public Storage
7D
1.1%
1Y
-13.8%

Digital Tools And Urban Densification Will Unlock Self Storage Value

Analysts have largely maintained their price target for Public Storage at $322.74, as cautious optimism about stabilized fundamentals, management’s positive outlook, and international expansion opportunities offset near-term concerns over weaker occupancy and move-in trends. Analyst Commentary Bearish analysts trimmed price targets to reflect Q2 results that showed stability in the storage market, but highlighted weaker occupancy and move-in rate trends—particularly with negative shifts in June and July.
WELL
US$167.82
Welltower
7D
-0.3%
1Y
34.7%

Private Fund Management And Acquisitions Will Improve Operational Efficiency

With analyst reasoning unavailable and both revenue growth and discount rate estimates unchanged, the consensus analyst price target for Welltower remained steady at $178.47. What's in the News Welltower repurchased 0 shares for $0 million from April 1, 2025 to June 30, 2025, completing 0% of the buyback announced earlier.
BEKE
US$18.99
KE Holdings
7D
8.0%
1Y
30.0%
AMH
US$34.85
American Homes 4 Rent
7D
-2.7%
1Y
-11.5%

Rising Expenses Will Undermine US Housing Market Stability

The consensus price target for American Homes 4 Rent was largely unchanged despite a notable decline in its projected future P/E ratio, with fair value dipping marginally from $40.55 to $40.45. What's in the News No shares were repurchased between April 1 and June 30, 2025; 11,653,421 shares (5.26%) have been bought back for $188.2 million under the ongoing buyback program.
EXR
US$147.28
Extra Space Storage
7D
2.6%
1Y
-15.2%

Urbanization Trends And Ancillary Income Will Unlock Future Value

Analysts lowered Extra Space Storage’s price target to $157.80, citing muted near-term growth prospects following weak Q2 results, reduced FFO estimates, and a lack of catalysts, despite a more favorable risk/reward and stabilized fundamentals. Analyst Commentary Bullish analysts note favorable risk/reward profile following year-to-date underperformance and see achievable 2025 outlooks with modest buy-side expectations into 2026.
CBRE
US$164.38
CBRE Group
7D
1.4%
1Y
44.8%

60% Resilience And M&A Will Forge Future Success

Analysts have raised CBRE Group’s price target to $168.36, citing strong Q2 sales, improved margin outlook, long-term earnings growth forecasts, and optimism around sector recovery and rate cuts. Analyst Commentary Bullish analysts cite Q2 sales beats and an improved margin outlook as justification for raising price targets.
AMT
US$198.32
American Tower
7D
-2.7%
1Y
-16.0%
VNO
US$41.29
Vornado Realty Trust
7D
8.6%
1Y
23.5%
DLR
US$163.24
Digital Realty Trust
7D
-2.6%
1Y
10.1%
CCI
US$96.15
Crown Castle
7D
-3.0%
1Y
-17.2%
INVH
US$30.25
Invitation Homes
7D
-3.3%
1Y
-15.9%

Invitation Homes: A Low-Hanging Fruit In The U.S. Housing Market

Aug 11
SBAC
US$197.74
SBA Communications
7D
-3.5%
1Y
-17.1%
ZG
US$84.78
Zillow Group
7D
4.1%
1Y
64.5%

Digital Transformation And AI Will Expand Real Estate Markets

Zillow Group’s fair value estimate has seen only a marginal increase, with key metrics such as net profit margin and future P/E remaining essentially flat, resulting in the consensus analyst price target rising slightly from $85.57 to $86.52. What's in the News Compass has filed an antitrust lawsuit against Zillow in the Southern District of New York, alleging that Zillow uses exclusionary policies and conspires with competitors to stifle innovation, maintain its market dominance, and block competitors like Compass from implementing new pre-marketing strategies.
BXP
US$76.83
BXP
7D
6.0%
1Y
3.0%