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U.S. Real Estate Sector Analysis

UpdatedApr 12, 2026
DataAggregated Company Financials
Companies276
  • 7D2.9%
  • 3M2.9%
  • 1Y11.0%
  • YTD4.3%

The Real Estate industry is up 2.9% in the last week, with Welltower up 2.6%. During this same period, the CoStar Group underperformed, falling 8.7%. In the last 12 months, the industry was up 11%. As for the next few years, earnings are expected to grow by 8.8% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 12 Apr 2026US$1.6tUS$334.7bUS$34.6b27.8x45.9x4.7x
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
Price to Earnings Ratio

35.9x


Total Market Cap: US$1.4tTotal Earnings: US$37.7bTotal Revenue: US$316.3bTotal 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 45.7x 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 2.8% per year over the last three years.
  • Meanwhile revenues have remained mostly flat.
  • This means that although sales have remained flat, 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 Market3.38%
Real Estate2.88%
Hotel and Resort REITs6.57%
Retail REITs4.05%
Specialized REITs3.50%
Office REITs3.45%
Industrial REITs2.95%
REITS2.79%
Health Care REITs2.34%
Residential REITs1.42%
Real Estate0.61%
Industry PE
  • Investors are most optimistic about the Health Care REITs industry which is trading above its 3-year average PE ratio of 333x.
    • Analysts are expecting annual earnings growth of 27.4%, 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 27% 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 16% 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$207.592.6%
+US$5.1b		45.5%PB3.5x
SPG Simon Property GroupUS$200.576.3%
+US$3.9b		35.3%PB12.6x
PLD PrologisUS$137.192.6%
+US$3.2b		42.6%PB2.4x
EQIX EquinixUS$1.03k3.0%
+US$2.9b		32.6%PB7.2x
AMT American TowerUS$179.293.2%
+US$2.6b		-15.9%PB22.9x

Latest News

CSGP
US$36.48
CoStar Group
7D
-8.7%
1Y
-52.9%

CoStar: A Compounding Machine In The Trash Can

Apr 11
EQIX
US$1,030.24
Equinix
7D
3.0%
1Y
32.6%

EQIX: Fair View Sees AI Connectivity Ambitions And Premium REIT Risks Shaping 2026

Equinix's analyst fair value estimate edges up to $1,044.61 from $1,036.41, as analysts weigh a series of higher Street price targets and supportive views on the company's data center positioning, along with modest tweaks to discount rate, revenue growth, profit margin, and future P/E assumptions. Analyst Commentary Street research around Equinix has been active, with a series of new initiations and price target adjustments feeding into the updated fair value estimate.
PSA
US$295.00
Public Storage
7D
5.2%
1Y
5.2%

PSA: Mixed 2026 Outlook As Low Cost Capital Meets National Storage Integration

Analysts kept the Public Storage fair value estimate steady at $313.25, while refining assumptions around slightly higher revenue growth, a modestly lower profit margin, and a similar forward P/E. This reflects mixed Street views, as some firms raised price targets by a few dollars and others trimmed them following recent Q4 results and the announced National Storage deal.
KRC
US$28.22
Kilroy Realty
7D
-0.8%
1Y
-5.2%
SBAC
US$223.75
SBA Communications
7D
9.7%
1Y
2.1%
AMT
US$179.29
American Tower
7D
3.2%
1Y
-15.9%
FRMI
US$4.87
Fermi
7D
-9.1%
1Y
n/a
WELL
US$207.59
Welltower
7D
2.6%
1Y
45.5%
PLD
US$137.19
Prologis
7D
2.6%
1Y
42.6%

PLD: Fair Outlook Sees Cycle Turn Meeting Premium Industrial REIT Expectations

Analysts have nudged Prologis' price targets higher into a roughly $130 to $153 range, reflecting a generally constructive view on industrial REIT fundamentals, including expectations for stable occupancy and steady cash same store net operating income. Analyst Commentary Recent Street research on Prologis points to a mix of optimism around industrial REIT fundamentals and valuation, balanced by some caution on how much upside is already reflected in the share price.
ZG
US$39.94
Zillow Group
7D
-1.7%
1Y
-33.7%
SPG
US$200.57
Simon Property Group
7D
6.3%
1Y
35.3%

SPG: Future Returns Will Reflect Strong Malls Buybacks And Leadership Transition

Simon Property Group's fair value estimate edges up to $206.30 from $206.15, reflecting analysts' higher price targets across the Street as they refresh models after Q4 retail REIT updates and factor in solid operating metrics along with modest adjustments to discount rates and future P/E assumptions. Analyst Commentary Recent research updates cluster on the positive side for Simon Property Group, with most firms lifting price targets following Q4 retail REIT reporting and model refreshes.
ARE
US$42.61
Alexandria Real Estate Equities
7D
-1.4%
1Y
-44.6%

Alexandria Real Estate: My Plan To Wait It Out Fell Apart

Apr 05
DLR
US$188.87
Digital Realty Trust
7D
4.0%
1Y
30.2%

DLR: AI Demand And European Expansion Will Support A Balanced Outlook

Analysts have nudged the price target for Digital Realty Trust slightly higher to $198.55 from $198.38, reflecting updated assumptions around revenue growth, profit margins and future P/E that are being supported by recent positive coverage initiations and target revisions across several research firms. Analyst Commentary Recent research updates on Digital Realty Trust present a mixed picture, with some firms highlighting growth opportunities in AI and interconnection, while others flag potential constraints around development pace, leasing and macro risks.
OPEN
US$4.32
Opendoor Technologies
7D
-8.9%
1Y
323.5%

OPEN: Margin Cohorts And Acquisition Ramp Will Support Future Earnings Turnaround

Narrative Update Analysts have raised their price targets on Opendoor Technologies by a few dollars per share, citing higher assumptions for future gross margins and contribution margins. They still expect the company to report losses relative to management's goal of achieving positive adjusted net income by year end.
LB
US$68.01
LandBridge
7D
-1.8%
1Y
3.5%

LB: Capital Returns And Higher Future P/E Will Support Long Term Outlook

Analysts now point to a higher LandBridge price target of about $80, up from $76, citing updated assumptions around fair value, discount rate, revenue growth, profit margin, and future P/E. What's in the News On February 25, 2026, the Board of Directors authorized a share repurchase plan allowing LandBridge Company LLC to buy back its own equity (Key Developments).
HBNB
US$6.52
Hotel101 Global Holdings
7D
-16.2%
1Y
-39.3%

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.