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U.S. Real Estate Sector Analysis

UpdatedAug 27, 2025
DataAggregated Company Financials
Companies281
  • 7D1.2%
  • 3M3.7%
  • 1Y-3.1%
  • YTD3.1%

In the last week, the Real Estate industry is up 1.2%, with Welltower up 1.4%. In contrast, the industry has lost 3.1% in the last 12 months. 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
Wed, 27 Aug 2025US$1.5tUS$331.5bUS$30.9b29.4x49.7x4.6x
Fri, 25 Jul 2025US$1.5tUS$326.3bUS$29.4b30.8x52.2x4.7x
Sun, 22 Jun 2025US$1.5tUS$326.3bUS$29.9b29.9x49.9x4.6x
Tue, 20 May 2025US$1.5tUS$326.5bUS$29.8b28.6x50.9x4.6x
Thu, 17 Apr 2025US$1.4tUS$321.5bUS$28.7b29.7x50x4.5x
Sat, 15 Mar 2025US$1.5tUS$326.5bUS$30.0b31.4x50.9x4.7x
Mon, 10 Feb 2025US$1.6tUS$320.6bUS$28.1b31.7x55.9x4.9x
Wed, 08 Jan 2025US$1.5tUS$320.0bUS$27.4b30.9x55.2x4.7x
Fri, 06 Dec 2024US$1.6tUS$320.0bUS$27.4b34.5x59.7x5.1x
Sun, 03 Nov 2024US$1.6tUS$317.5bUS$26.9b33.7x59.1x5x
Tue, 01 Oct 2024US$1.6tUS$315.7bUS$27.2b34.3x60.6x5.2x
Thu, 29 Aug 2024US$1.6tUS$314.7bUS$27.1b34.2x58.8x5.1x
Sat, 27 Jul 2024US$1.5tUS$311.6bUS$26.7b32.7x55.5x4.8x
Mon, 24 Jun 2024US$1.4tUS$306.5bUS$27.7b30.4x50.2x4.5x
Wed, 22 May 2024US$1.4tUS$306.9bUS$27.9b30.3x50.5x4.6x
Fri, 19 Apr 2024US$1.3tUS$306.6bUS$28.0b29x46.7x4.3x
Sun, 17 Mar 2024US$1.4tUS$306.1bUS$28.2b29.2x49.7x4.6x
Tue, 13 Feb 2024US$1.4tUS$305.9bUS$26.1b30.3x52.9x4.5x
Thu, 11 Jan 2024US$1.5tUS$323.0bUS$26.6b30.9x56.2x4.6x
Sat, 09 Dec 2023US$1.4tUS$323.1bUS$26.5b29.7x53.9x4.4x
Mon, 06 Nov 2023US$1.3tUS$323.9bUS$28.1b28x47.4x4.1x
Wed, 04 Oct 2023US$1.3tUS$325.2bUS$31.5b25.9x41.1x4x
Fri, 01 Sep 2023US$1.4tUS$319.6bUS$27.6b29.6x49.2x4.3x
Sun, 30 Jul 2023US$1.4tUS$326.3bUS$34.3b27.4x41.6x4.4x
Tue, 27 Jun 2023US$1.4tUS$322.8bUS$34.0b23.5x41.1x4.3x
Thu, 25 May 2023US$1.3tUS$314.8bUS$35.5b22.9x36.2x4.1x
Sat, 22 Apr 2023US$1.3tUS$316.8bUS$36.9b24.4x36.4x4.2x
Mon, 20 Mar 2023US$174.9bUS$137.5bUS$2.1b14.9x82.2x1.3x
Wed, 15 Feb 2023US$1.5tUS$312.2bUS$42.6b24.4x34.2x4.7x
Fri, 13 Jan 2023US$1.4tUS$311.5bUS$45.1b24.8x31.6x4.6x
Sun, 11 Dec 2022US$1.4tUS$311.2bUS$45.1b24.7x30.4x4.4x
Tue, 08 Nov 2022US$1.3tUS$311.8bUS$43.6b24.7x30x4.2x
Thu, 06 Oct 2022US$1.3tUS$307.4bUS$41.4b24.6x31.3x4.2x
Sat, 03 Sep 2022US$1.4tUS$307.6bUS$41.4b26.6x34.8x4.7x
Price to Earnings Ratio

34.8x


Total Market Cap: US$1.4tTotal Earnings: US$41.4bTotal Revenue: US$307.6bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Real Estate Sector Price to Earnings3Y Average 47x202320242025
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 47.0x.
  • 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 9.3% 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 Market1.32%
Real Estate1.17%
Hotel and Resort REITs3.68%
Real Estate2.67%
Office REITs1.61%
Health Care REITs1.47%
REITS1.40%
Specialized REITs1.00%
Industrial REITs0.80%
Retail REITs0.72%
Residential REITs-0.0022%
Industry PE
  • Investors are most optimistic about the Health Care REITs industry which is trading above its 3-year average PE ratio of 285x.
    • Analysts are expecting annual earnings growth of 24.6%, 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 32% 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 13% 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$165.841.4%
+US$1.5b		37.9%PB3.1x
VICI VICI PropertiesUS$33.453.0%
+US$1.0b		0.9%PB1.3x
CBRE CBRE GroupUS$163.422.2%
+US$1.0b		41.7%PE43.9x
EQIX EquinixUS$781.791.1%
+US$815.2m		-4.4%PB5.4x
OPEN Opendoor TechnologiesUS$4.7029.8%
+US$787.5m		97.5%PS0.7x

Latest News

VTR
US$67.60
Ventas
7D
-0.5%
1Y
12.1%

Increasing Aging Demand Will Reshape Senior Housing And Medical Offices

Ventas’s consensus analyst price target saw a marginal increase to $77.28, with minimal changes in both future P/E and net profit margin, indicating little shift in the company’s underlying valuation metrics. What's in the News Ventas raised its 2025 earnings guidance, now expecting attributable net income per share of $0.47–$0.52, compared to the prior range of $0.43–$0.53.
CBRE
US$163.42
CBRE Group
7D
2.2%
1Y
41.7%

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.
BEKE
US$18.58
KE Holdings
7D
3.2%
1Y
27.9%

AI Integration And Market Expansion Will Transform Customer Experience And Operational Efficiency

Analysts have lowered their price target for KE Holdings to $23.21, citing persistent weakness in China’s property market, deteriorating industry trends, and a lack of supportive policy actions, which have led to reduced forecasts for home transaction volumes and revenue. Analyst Commentary Softer industry trends observed in both existing and new home sales since June, leading to reduced revenue and GTV estimates.
EQIX
US$781.79
Equinix
7D
1.1%
1Y
-4.4%
SUI
US$124.76
Sun Communities
7D
-1.7%
1Y
-6.1%
O
US$58.13
Realty Income
7D
-1.5%
1Y
-6.5%
ADC
US$72.13
Agree Realty
7D
-1.8%
1Y
-0.8%
WY
US$26.17
Weyerhaeuser
7D
-0.6%
1Y
-14.5%
CCI
US$101.39
Crown Castle
7D
-1.0%
1Y
-10.7%
SBAC
US$218.84
SBA Communications
7D
-0.6%
1Y
-4.2%
ZG
US$82.90
Zillow Group
7D
3.6%
1Y
49.5%

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.
SPG
US$176.83
Simon Property Group
7D
1.1%
1Y
5.2%
OPEN
US$4.70
Opendoor Technologies
7D
29.8%
1Y
97.5%

High Mortgage Rates Will Challenge Valuations While Tech Upsides Unfold

Despite a substantial decline in consensus revenue growth forecasts and a higher future P/E ratio indicating increased valuation risk, the consensus analyst price target for Opendoor Technologies has been modestly raised from $1.17 to $1.23. What's in the News Opendoor received a Nasdaq notice for non-compliance with minimum $1.00 bid price; has 180 days to regain compliance, with possible additional 180-day extension and may conduct a reverse stock split if needed.
ELS
US$59.10
Equity LifeStyle Properties
7D
-2.7%
1Y
-16.0%
WELL
US$165.84
Welltower
7D
1.4%
1Y
37.9%
VICI
US$33.45
VICI Properties
7D
3.0%
1Y
0.9%