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U.S. Real Estate Sector Analysis

UpdatedMay 23, 2026
DataAggregated Company Financials
Companies276
  • 7D2.8%
  • 3M1.6%
  • 1Y11.6%
  • YTD8.5%

The Real Estate industry is up 2.8% in the last week, with American Tower up 7.7%. Meanwhile, KE Holdings actually underperformed within the industry, shrinking 9.7% in the last week. This means that the industry has gained 12% over the past year. Looking forward, earnings are forecast to grow by 7.8% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 23 May 2026US$1.6tUS$339.0bUS$39.0b29.5x42.2x4.9x
Mon, 20 Apr 2026US$1.7tUS$334.9bUS$35.0b28.6x47.3x4.9x
Wed, 18 Mar 2026US$1.6tUS$334.0bUS$35.3b28.1x44.5x4.7x
Fri, 13 Feb 2026US$1.6tUS$333.8bUS$34.4b30.2x46.4x4.8x
Sun, 11 Jan 2026US$1.5tUS$333.2bUS$32.5b29.1x46.9x4.6x
Tue, 09 Dec 2025US$1.5tUS$338.2bUS$32.8b28.8x46.7x4.5x
Thu, 06 Nov 2025US$1.5tUS$337.6bUS$32.1b27.2x47.3x4.5x
Sat, 04 Oct 2025US$1.6tUS$331.8bUS$31.0b28.6x50.1x4.7x
Mon, 01 Sep 2025US$1.5tUS$331.6bUS$30.9b30.1x50.1x4.7x
Wed, 30 Jul 2025US$1.5tUS$328.5bUS$29.8b30.4x50.5x4.6x
Fri, 27 Jun 2025US$1.5tUS$326.1bUS$29.7b29.7x49.6x4.5x
Sun, 25 May 2025US$1.5tUS$326.6bUS$29.8b27.4x49x4.5x
Tue, 22 Apr 2025US$1.5tUS$321.6bUS$28.6b29.3x50.8x4.5x
Thu, 20 Mar 2025US$1.5tUS$321.6bUS$29.0b31.9x52.7x4.7x
Sat, 15 Feb 2025US$1.6tUS$323.1bUS$28.0b32.4x56.6x4.9x
Mon, 13 Jan 2025US$1.5tUS$319.9bUS$27.4b29.8x53.5x4.6x
Wed, 11 Dec 2024US$1.6tUS$320.1bUS$27.4b33.9x59.6x5.1x
Fri, 08 Nov 2024US$1.6tUS$319.1bUS$27.3b34.5x58.8x5x
Sun, 06 Oct 2024US$1.6tUS$314.7bUS$26.7b33.5x60.7x5.1x
Tue, 03 Sep 2024US$1.6tUS$314.7bUS$27.1b34.3x59x5.1x
Thu, 01 Aug 2024US$1.5tUS$312.2bUS$26.6b32.6x57.2x4.9x
Sat, 29 Jun 2024US$1.4tUS$306.5bUS$27.7b30.9x50.2x4.5x
Mon, 27 May 2024US$1.4tUS$306.4bUS$27.6b30.6x49.5x4.5x
Wed, 24 Apr 2024US$1.3tUS$306.7bUS$28.1b29.7x47.6x4.4x
Fri, 22 Mar 2024US$1.4tUS$306.1bUS$28.2b29.9x50x4.6x
Sun, 18 Feb 2024US$1.4tUS$306.4bUS$27.8b30x50.3x4.6x
Tue, 16 Jan 2024US$1.5tUS$323.0bUS$26.6b31.3x56.1x4.6x
Thu, 14 Dec 2023US$1.4tUS$323.0bUS$26.5b30.5x54x4.4x
Sat, 11 Nov 2023US$1.3tUS$323.9bUS$26.5b27.8x48.7x4x
Mon, 09 Oct 2023US$1.3tUS$325.2bUS$31.5b26.3x40.7x3.9x
Wed, 06 Sep 2023US$1.4tUS$324.0bUS$31.7b29.1x44x4.3x
Fri, 04 Aug 2023US$1.4tUS$326.1bUS$33.3b28.5x43x4.4x
Sun, 02 Jul 2023US$1.4tUS$322.8bUS$34.0b24.2x42.1x4.4x
Tue, 30 May 2023US$1.3tUS$314.8bUS$35.5b23.2x36.5x4.1x
Price to Earnings Ratio

36.5x


Total Market Cap: US$1.3tTotal Earnings: US$35.5bTotal Revenue: US$314.8bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Real Estate Sector Price to Earnings3Y Average 50x202420252026
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 42.2x which is lower than its 3-year average PE of 50.0x.
  • 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 grown 3.1% per year over the last three years.
  • Revenues for these companies have grown 2.5% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

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

US Market1.01%
Real Estate2.80%
Hotel and Resort REITs5.39%
Residential REITs4.02%
Specialized REITs3.74%
Industrial REITs3.70%
REITS2.78%
Retail REITs2.67%
Office REITs2.18%
Health Care REITs1.27%
Real Estate-0.18%
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 346x.
    • Analysts are expecting annual earnings growth of 24.0%, which is higher than its past year's earnings growth of 20.5% per year.
Forecasted Growth
  • Analysts are most optimistic on the Real Estate industry, expecting annual earnings growth of 27% over the next 5 years.
  • This is better than its past earnings decline of 0.6% per year.
  • In contrast, the Residential REITs industry is expected to see its earnings decline by 7.0% 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
AMT American TowerUS$183.857.7%
+US$6.2b		-13.2%PB24.3x
PLD PrologisUS$145.903.8%
+US$5.0b		40.2%PB2.5x
PSA Public StorageUS$305.254.4%
+US$2.2b		2.9%PB11x
CCI Crown CastleUS$91.465.5%
+US$2.1b		-8.7%PE38.4x
EQIX EquinixUS$1.08k1.9%
+US$2.0b		25.1%PB7.4x

Latest News

CHCI
US$14.86
Comstock Holding Companies
7D
-8.8%
1Y
64.0%
KRC
US$33.97
Kilroy Realty
7D
-1.1%
1Y
8.6%
FRMI
US$5.98
Fermi
7D
-8.1%
1Y
n/a
EXR
US$143.30
Extra Space Storage
7D
4.7%
1Y
-1.7%
CCI
US$91.46
Crown Castle
7D
5.5%
1Y
-8.7%
PLD
US$145.90
Prologis
7D
3.8%
1Y
40.2%
ZG
US$36.88
Zillow Group
7D
-3.1%
1Y
-43.5%
Narrative Update • May 21

ZG: AI And Listing Rule Changes Will Support Long Term Moat

Analysts have trimmed their price targets on Zillow Group, with the updated fair value estimate moving from about $73.48 to $64.78 as they factor in slightly softer revenue growth assumptions, a lower future P/E of about 30x versus 44x, a modestly lower discount rate, and incremental competitive and AI related risks highlighted in recent research. Analyst Commentary Recent Street research on Zillow Group clusters around two themes: how competitive and AI related risks might affect execution, and whether the current valuation already reflects those pressures.
EQIX
US$1,079.79
Equinix
7D
1.9%
1Y
25.1%
PSA
US$305.25
Public Storage
7D
4.4%
1Y
2.9%
AMT
US$183.85
American Tower
7D
7.7%
1Y
-13.2%
BEKE
US$16.40
KE Holdings
7D
-9.7%
1Y
-11.0%
Narrative Update • May 15

BEKE: Buybacks And Dividend Decision Will Drive Future Re Rating Potential

Analysts have raised their fair value estimate for KE Holdings to about $21 per share, citing updated assumptions for revenue growth, profit margins, and future P/E that are consistent with a series of recent Buy ratings and $23 price targets from major firms. Analyst Commentary Recent Street research around KE Holdings has concentrated around a cluster of Buy ratings and a series of US$23 price targets, which line up with the updated fair value estimate of about US$21 per share.
WELL
US$216.17
Welltower
7D
1.1%
1Y
44.9%
DEI
US$11.46
Douglas Emmett
7D
-1.9%
1Y
-18.1%
SPG
US$204.41
Simon Property Group
7D
2.2%
1Y
30.4%
SILA
US$30.21
Sila Realty Trust
7D
-1.1%
1Y
23.8%
MRNO
US$0.35
Murano Global Investments
7D
-38.4%
1Y
-96.5%