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U.S. Real Estate Sector Analysis

UpdatedFeb 11, 2026
DataAggregated Company Financials
Companies277
  • 7D4.9%
  • 3M3.8%
  • 1Y2.3%
  • YTD6.1%

In the last week, the Real Estate industry is up 4.9%, with Welltower leading the way, up 7.1%. Meanwhile, Zillow Group actually underperformed within the industry, shrinking 7.3% in the last week. Overall in the last year, the industry is flat. Looking forward, earnings are forecast to grow by 9.6% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 11 Feb 2026US$1.6tUS$333.2bUS$34.3b30.4x46.2x4.8x
Fri, 09 Jan 2026US$1.5tUS$339.2bUS$32.2b29.4x46.8x4.4x
Sun, 07 Dec 2025US$1.5tUS$338.2bUS$32.8b28.8x46.8x4.5x
Tue, 04 Nov 2025US$1.5tUS$336.9bUS$31.9b27.4x47.6x4.5x
Thu, 02 Oct 2025US$1.5tUS$331.8bUS$30.9b28.6x49.8x4.6x
Sat, 30 Aug 2025US$1.5tUS$331.6bUS$30.9b30.1x49.9x4.6x
Mon, 28 Jul 2025US$1.5tUS$326.4bUS$30.1b30.3x50.8x4.7x
Wed, 25 Jun 2025US$1.5tUS$326.1bUS$29.7b29.8x50.8x4.6x
Fri, 23 May 2025US$1.5tUS$326.6bUS$29.8b27.4x49.2x4.5x
Sun, 20 Apr 2025US$1.5tUS$321.6bUS$28.7b29.9x50.8x4.5x
Tue, 18 Mar 2025US$1.5tUS$319.9bUS$28.9b32.1x52.3x4.7x
Thu, 13 Feb 2025US$1.6tUS$321.3bUS$27.9b32.5x56.6x4.9x
Sat, 11 Jan 2025US$1.5tUS$320.0bUS$27.4b29.9x54.8x4.7x
Mon, 09 Dec 2024US$1.6tUS$320.0bUS$27.4b34.4x59.5x5.1x
Wed, 06 Nov 2024US$1.6tUS$318.1bUS$27.3b34.6x58.9x5x
Fri, 04 Oct 2024US$1.6tUS$314.7bUS$26.6b33.5x61.4x5.2x
Sun, 01 Sep 2024US$1.6tUS$314.8bUS$27.1b34.3x58.9x5.1x
Tue, 30 Jul 2024US$1.5tUS$311.7bUS$25.9b32.8x58.3x4.8x
Thu, 27 Jun 2024US$1.4tUS$306.5bUS$27.7b30.4x49.9x4.5x
Sat, 25 May 2024US$1.4tUS$306.4bUS$27.6b30.6x49.4x4.5x
Mon, 22 Apr 2024US$1.3tUS$306.8bUS$28.0b29.2x46.9x4.3x
Wed, 20 Mar 2024US$1.4tUS$306.1bUS$28.2b28.9x49.7x4.6x
Fri, 16 Feb 2024US$1.4tUS$307.7bUS$27.2b30.8x50.3x4.4x
Sun, 14 Jan 2024US$1.5tUS$323.0bUS$26.6b31.3x56.1x4.6x
Tue, 12 Dec 2023US$1.4tUS$323.1bUS$26.5b29.7x54x4.4x
Thu, 09 Nov 2023US$1.3tUS$324.1bUS$27.3b27.2x47.9x4x
Sat, 07 Oct 2023US$1.3tUS$325.2bUS$31.5b26.3x40.7x3.9x
Mon, 04 Sep 2023US$1.4tUS$319.6bUS$27.6b29.2x49.3x4.3x
Wed, 02 Aug 2023US$1.4tUS$326.2bUS$34.1b27.4x42.5x4.4x
Fri, 30 Jun 2023US$1.4tUS$322.8bUS$34.0b24.2x42x4.4x
Sun, 28 May 2023US$1.3tUS$314.8bUS$35.5b23.2x36.5x4.1x
Tue, 25 Apr 2023US$1.3tUS$316.8bUS$37.0b24.3x36.2x4.2x
Thu, 23 Mar 2023US$172.7bUS$137.5bUS$2.1b14.4x81.2x1.3x
Sat, 18 Feb 2023US$1.4tUS$306.7bUS$41.4b24.9x34.9x4.7x
Price to Earnings Ratio

34.9x


Total Market Cap: US$1.4tTotal Earnings: US$41.4bTotal Revenue: US$306.7bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Real Estate Sector Price to Earnings3Y Average 49.6x202420252026
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 46.2x which is lower than its 3-year average PE of 49.6x.
  • 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 6.1% per year over the last three years.
  • Meanwhile revenues for these companies have grown 2.8% 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 Market0.99%
Real Estate4.90%
REITS22.22%
Hotel and Resort REITs6.56%
Health Care REITs6.51%
Industrial REITs5.65%
Specialized REITs4.41%
Retail REITs4.13%
Residential REITs4.04%
Office REITs2.47%
Real Estate1.78%
Industry PE
  • Investors are most optimistic about the Office REITs industry which is trading above its 3-year average PE ratio of 77.6x.
    • Analysts are expecting annual earnings decline of 24.7%, which is lower than the prior year's growth of 10.0% 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 3.3% per year.
  • In contrast, the Office REITs industry is expected to see its earnings decline by 25% 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$200.847.1%
+US$9.2b		40.1%PB3.6x
PLD PrologisUS$140.486.5%
+US$8.0b		15.4%PB2.5x
EQIX EquinixUS$856.746.8%
+US$5.4b		-9.2%PB5.9x
VTR VentasUS$83.908.0%
+US$3.4b		40.8%PB3.2x
IRM Iron MountainUS$99.3112.1%
+US$3.2b		-6.5%PE184.3x

Latest News

WELL
US$200.84
Welltower
7D
7.1%
1Y
40.1%
KRC
US$33.25
Kilroy Realty
7D
-3.0%
1Y
-7.2%
CSGP
US$50.85
CoStar Group
7D
-1.7%
1Y
-33.1%
ALX
US$233.77
Alexander's
7D
-6.7%
1Y
18.3%
VTR
US$83.90
Ventas
7D
8.0%
1Y
40.8%

VTR: Steady Fair Value And 2026 Guidance Will Support P/E Upside

Analysts have lifted their price target on Ventas from $85.65 to $87.75, citing updated assumptions that combine slightly lower revenue growth with higher expected profit margins, a reduced discount rate, and a lower future P/E multiple. What's in the News Board of Directors declared a quarterly dividend of $0.52 per share, which the company describes as an 8% increase.
PLD
US$140.48
Prologis
7D
6.5%
1Y
15.4%

PLD: Fair Outlook Weighs 2026 Earnings With Premium Industrial REIT Multiples

Analysts have raised their fair value estimate for Prologis to $139.40 from $138.25, reflecting a combination of higher price targets across several firms and updated assumptions that include slightly lower revenue growth, a modestly higher discount rate, and a somewhat stronger profit margin and future P/E profile. Analyst Commentary Recent research on Prologis shows a mix of optimism and caution, with many firms adjusting price targets and a few changing ratings.
O
US$63.90
Realty Income
7D
4.0%
1Y
17.5%

O: Dividend Income And Logistics Expansion Will Shape A Balanced Forward Outlook

Analysts have nudged their fair value estimate for Realty Income to $64.31 from $63.77, supported by recent upgrades and higher price targets that reflect steady assumptions for revenue growth, profit margins, and future P/E expectations. Analyst Commentary Bullish and cautious voices are both active around Realty Income, and together they help frame how the new fair value estimate lines up with current expectations on execution, growth, and valuation.
OPEN
US$4.69
Opendoor Technologies
7D
-6.2%
1Y
219.0%

The Market Doesn't Like What It Sees From Opendoor Technologies Inc.'s (NASDAQ:OPEN) Revenues Yet As Shares Tumble 33%

Feb 08
The Market Doesn't Like What It Sees From Opendoor Technologies Inc.'s (NASDAQ:OPEN) Revenues Yet As Shares Tumble 33%
REXR
US$38.23
Rexford Industrial Realty
7D
-5.7%
1Y
-7.3%
DLR
US$172.53
Digital Realty Trust
7D
4.9%
1Y
4.1%
IRM
US$99.31
Iron Mountain
7D
12.1%
1Y
-6.5%

IRM: Short Seller Accounting Concerns Will Eventually Pressure Premium Multiple

Analysts have lifted their Iron Mountain price target by $3 to $126, citing updated REIT group assumptions, modest adjustments to growth and margin forecasts, and continued support from recent research defending the stock following the short report. Analyst Commentary Recent research on Iron Mountain has centered on price target fine tuning and reactions to the short report, giving you a window into how the sell side is thinking about both risk and reward.
HPP
US$7.39
Hudson Pacific Properties
7D
-10.1%
1Y
-65.6%

HPP: Studio Leasing And Reverse Split Will Shape Cautious Yet Balanced Outlook

Narrative Update The analyst price target for Hudson Pacific Properties has shifted from $12.00 to $8.00, as analysts factor in lower revenue growth, a slightly slimmer profit margin, and reduced future P/E expectations following a series of target cuts and a downgrade across major banks. Analyst Commentary Recent Street research on Hudson Pacific Properties points to a more cautious tone, with several bearish analysts cutting price targets and one formal downgrade.
AMT
US$178.51
American Tower
7D
3.1%
1Y
-7.7%
HBNB
US$7.44
Hotel101 Global Holdings
7D
-9.4%
1Y
-29.9%

Hotel101 Global: A Scalable Hospitality Platform Built to Compound

Exceptional investments are often hiding behind familiar labels. Hotel101 Global Holdings may appear, at first glance, to be just another hotel company.
ZG
US$54.42
Zillow Group
7D
-7.3%
1Y
-35.1%

ZG: Listing Structure Risks Will Shape Future Upside Potential

Analysts have made a modest trim to their average price target on Zillow Group, with small adjustments to fair value, discount rate, growth and margin inputs, alongside a higher assumed future P/E reflecting fresh views on competition, regulatory risk and listing market structure. Analyst Commentary Street research on Zillow Group over the past few months has centered on how changing listing structures, legal overhangs and competition could affect the company’s ability to grow into its current valuation.
EQIX
US$856.74
Equinix
7D
6.8%
1Y
-9.2%