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U.S. Real Estate Sector Analysis

UpdatedFeb 13, 2026
DataAggregated Company Financials
Companies277
  • 7D2.0%
  • 3M3.3%
  • 1Y0.6%
  • YTD4.6%

Equinix is up 19%, leading the way for the Real Estate industry, which has gained 2.6%. Meanwhile, CBRE Group actually underperformed within the industry, shrinking 18% in the last week. Despite this gain, the industry's performance has been flat over the past year. Earnings are forecast to grow by 9.4% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
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
Thu, 27 Apr 2023US$1.3tUS$312.9bUS$37.2b23.5x35.3x4.2x
Sat, 25 Mar 2023US$173.0bUS$137.5bUS$2.2b14.1x77.6x1.3x
Mon, 20 Feb 2023US$1.4tUS$306.7bUS$41.4b25x34.9x4.7x
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 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 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 5.9% per year over the last three years.
  • Meanwhile revenues for these companies have grown 2.9% 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 Market0.52%
Real Estate1.96%
REITS16.32%
Specialized REITs7.68%
Health Care REITs6.19%
Hotel and Resort REITs2.44%
Residential REITs1.82%
Retail REITs-0.081%
Industrial REITs-0.52%
Office REITs-7.46%
Real Estate-11.86%
Industry PE
  • Investors are most optimistic about the Office REITs industry which is trading above its 3-year average PE ratio of 78.8x.
    • Analysts are expecting annual earnings decline of 24.7%, which is lower than the prior year's growth of 21.1% 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
EQIX EquinixUS$957.8718.6%
+US$14.8b		3.8%PB6.6x
WELL WelltowerUS$208.148.9%
+US$13.8b		37.4%PB3.4x
AMT American TowerUS$188.199.7%
+US$7.8b		-0.9%PB22.3x
DLR Digital Realty TrustUS$180.319.5%
+US$5.4b		9.4%PB2.8x
IRM Iron MountainUS$106.0019.2%
+US$5.0b		11.3%PE196.7x

Latest News

CSGP
US$45.03
CoStar Group
7D
-11.7%
1Y
-38.8%

CoStar Group, Inc.'s (NASDAQ:CSGP) Share Price Is Still Matching Investor Opinion Despite 27% Slump

Feb 13
CoStar Group, Inc.'s (NASDAQ:CSGP) Share Price Is Still Matching Investor Opinion Despite 27% Slump
JLL
US$280.16
Jones Lang LaSalle
7D
-16.4%
1Y
0.3%
CBRE
US$136.28
CBRE Group
7D
-18.0%
1Y
-4.8%
IRM
US$106.00
Iron Mountain
7D
19.2%
1Y
11.3%
EQIX
US$957.87
Equinix
7D
18.6%
1Y
3.8%
DLR
US$180.31
Digital Realty Trust
7D
9.5%
1Y
9.4%
WELL
US$208.14
Welltower
7D
8.9%
1Y
37.4%
ZG
US$43.70
Zillow Group
7D
-18.7%
1Y
-42.0%

ZG: Listing Structure Rules And Legal Outcomes Will Shape Future Upside

Analysts have trimmed their average price targets on Zillow Group by a few dollars per share, reflecting updated views on discount rates, long term growth assumptions, and P/E multiples after a series of target cuts and one upgrade across major firms. Analyst Commentary Recent research on Zillow Group has centered on how ongoing litigation, changes in the real estate listings market, and competitive pressures could affect the company’s execution and valuation, with price targets adjusted accordingly.
CCI
US$87.81
Crown Castle
7D
12.0%
1Y
-2.3%

CCI: Tower Asset Strength Will Outweigh EchoStar Dish And Legal Overhang

The analyst price target for Crown Castle has been reduced by about $8 to $99. Analysts cite more conservative assumptions regarding revenue trends, profit margins, and future P/E multiples following a series of recent target cuts across the Street.
SPG
US$191.43
Simon Property Group
7D
-3.0%
1Y
2.8%
COMP
US$10.32
Compass
7D
-14.3%
1Y
36.1%

COMP: Anywhere Deal Execution Will Test Recently Raised Fair Value Assumptions

The analyst price target for Compass has been raised by US$2.16 per share, as analysts factor in updated fair value, revenue growth, profit margin, and future P/E assumptions alongside recent research highlighting the Anywhere Real Estate deal and renewed coverage across major firms. Analyst Commentary Recent research on Compass reflects a mix of optimism around the Anywhere Real Estate transaction and a more cautious stance on how much of that potential is already reflected in the share price.
VTR
US$85.20
Ventas
7D
6.7%
1Y
31.2%

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.
ARE
US$50.40
Alexandria Real Estate Equities
7D
-8.6%
1Y
-47.4%

ARE: Large Impairments And Dividend Cut Will Pressure Future Share Performance

Analysts have reduced their price target on Alexandria Real Estate Equities from US$71.00 to US$50.00, citing updated views on revenue contraction, higher discount rates and a lower future P/E multiple, partially offset by expectations for a higher profit margin. What's in the News Reported real estate impairments of approximately US$1.72b for the fourth quarter of 2025, compared with about US$186.56m a year earlier, highlighting a very large write down of property values.
SBAC
US$199.29
SBA Communications
7D
10.4%
1Y
-4.2%

SBAC: EchoStar Resolution Will Support Future Cash Flow Visibility

Narrative Update on SBA Communications Analysts have trimmed their price targets on SBA Communications by a mid teens dollar amount, reflecting slightly more conservative revenue growth and discount rate assumptions, and citing sector wide caution around leasing trends and the EchoStar related overhang. Analyst Commentary Recent research on SBA Communications clusters around a few key themes, with price targets adjusted lower and a tighter focus on leasing trends and the EchoStar and Dish situation.
BEKE
US$17.73
KE Holdings
7D
-3.7%
1Y
-13.0%

BEKE: Future Execution Risks Will Weigh On Premium Multiple

Analysts have trimmed their price targets on KE Holdings to about US$15.29 from roughly US$19.03, reflecting updated assumptions for slower revenue growth, slightly lower profit margins, a higher discount rate, and a reduced future P/E multiple. Analyst Commentary Bearish analysts have been resetting expectations on KE Holdings, with recent commentary pointing to a more cautious stance on both execution and valuation.
AMT
US$188.19
American Tower
7D
9.7%
1Y
-0.9%