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U.S. Real Estate Sector Analysis

UpdatedApr 05, 2026
DataAggregated Company Financials
Companies274
  • 7D2.8%
  • 3M1.5%
  • 1Y7.0%
  • YTD1.4%

Over the last 7 days, the Real Estate industry has risen 2.8%, and Welltower contributed the most with a gain of 3.4%. In the last 12 months, the industry was up 7.0%. Earnings are forecast to grow by 8.9% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 05 Apr 2026US$1.5tUS$334.6bUS$34.6b27.4x44.4x4.6x
Tue, 03 Mar 2026US$1.6tUS$335.5bUS$35.0b29.1x46.4x4.8x
Thu, 29 Jan 2026US$1.5tUS$333.3bUS$32.1b28.8x48x4.6x
Sat, 27 Dec 2025US$1.5tUS$339.2bUS$32.2b29x47.3x4.5x
Mon, 24 Nov 2025US$1.5tUS$338.1bUS$32.8b28.9x46.5x4.5x
Wed, 22 Oct 2025US$1.6tUS$332.0bUS$30.8b29.2x50.8x4.7x
Fri, 19 Sep 2025US$1.5tUS$331.8bUS$30.9b29.2x50x4.7x
Sun, 17 Aug 2025US$1.5tUS$331.2bUS$31.0b28.7x48.5x4.5x
Tue, 15 Jul 2025US$1.5tUS$325.8bUS$29.9b30.8x50.1x4.6x
Thu, 12 Jun 2025US$1.5tUS$326.3bUS$29.9b29.7x50.7x4.6x
Sat, 10 May 2025US$1.5tUS$325.3bUS$29.8b28.8x49.8x4.6x
Mon, 07 Apr 2025US$1.4tUS$321.4bUS$28.7b28.8x49.2x4.4x
Wed, 05 Mar 2025US$1.6tUS$325.3bUS$30.0b32x54.3x5x
Fri, 31 Jan 2025US$1.5tUS$320.2bUS$27.9b31.8x55x4.8x
Sun, 29 Dec 2024US$1.5tUS$320.0bUS$27.4b31.9x55.5x4.8x
Tue, 26 Nov 2024US$1.6tUS$320.0bUS$27.4b35.6x58.4x5x
Thu, 24 Oct 2024US$1.6tUS$314.8bUS$27.0b34.1x60x5.1x
Sat, 21 Sep 2024US$1.6tUS$315.6bUS$27.2b33.7x60.7x5.2x
Mon, 19 Aug 2024US$1.5tUS$314.6bUS$27.3b32.5x56.4x4.9x
Wed, 17 Jul 2024US$1.5tUS$305.7bUS$27.1b32.4x53.9x4.8x
Fri, 14 Jun 2024US$1.4tUS$306.6bUS$27.7b30.8x50.4x4.6x
Sun, 12 May 2024US$1.4tUS$308.2bUS$27.9b31x49.5x4.5x
Tue, 09 Apr 2024US$1.4tUS$306.7bUS$27.8b29.9x50.1x4.5x
Thu, 07 Mar 2024US$1.4tUS$305.5bUS$28.3b29.2x50x4.6x
Sat, 03 Feb 2024US$1.5tUS$323.7bUS$26.9b29.5x53.9x4.5x
Mon, 01 Jan 2024US$1.5tUS$323.1bUS$26.6b30.9x56.9x4.7x
Wed, 29 Nov 2023US$1.4tUS$323.0bUS$26.5b28.2x51.9x4.3x
Fri, 27 Oct 2023US$1.2tUS$325.4bUS$30.7b25x40.5x3.8x
Sun, 24 Sep 2023US$1.3tUS$325.2bUS$31.5b27x42x4.1x
Tue, 22 Aug 2023US$1.4tUS$323.2bUS$31.2b28.4x44x4.2x
Thu, 20 Jul 2023US$1.4tUS$326.3bUS$35.0b25.9x41.3x4.4x
Sat, 17 Jun 2023US$1.4tUS$314.0bUS$35.5b24.3x38.5x4.4x
Mon, 15 May 2023US$1.3tUS$314.4bUS$34.7b23.2x38.5x4.3x
Wed, 12 Apr 2023US$1.4tUS$315.8bUS$38.1b24.8x35.6x4.3x
Price to Earnings Ratio

35.6x


Total Market Cap: US$1.4tTotal Earnings: US$38.1bTotal Revenue: US$315.8bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Real Estate Sector Price to Earnings3Y Average 49.7x202420252026
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 44.4x which is lower than its 3-year average PE of 49.7x.
  • 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 3.1% 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 Market3.46%
Real Estate2.85%
Residential REITs3.36%
Specialized REITs3.35%
Industrial REITs3.32%
Retail REITs3.27%
REITS2.54%
Health Care REITs2.38%
Office REITs2.01%
Hotel and Resort REITs1.22%
Real Estate1.02%
Industry PE
  • Investors are most optimistic about the Health Care REITs industry which is trading above its 3-year average PE ratio of 328x.
    • Analysts are expecting annual earnings growth of 27.5%, which is higher than its past year's earnings growth of 12.9% per year.
Forecasted Growth
  • Analysts are most optimistic on the Real Estate industry, expecting annual earnings growth of 28% over the next 5 years.
  • This is better than its past earnings decline of 0.3% per year.
  • In contrast, the Office REITs industry is expected to see its earnings decline by 18% 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$202.333.4%
+US$4.6b		41.2%PB3.4x
PLD PrologisUS$133.773.8%
+US$4.5b		36.2%PB2.3x
SBAC SBA CommunicationsUS$204.0422.1%
+US$3.9b		-7.2%PE20.5x
EQIX EquinixUS$1.00k3.9%
+US$3.7b		30.6%PB6.9x
SPG Simon Property GroupUS$188.674.7%
+US$2.7b		29.2%PB11.9x

Latest News

ARE
US$43.23
Alexandria Real Estate Equities
7D
-6.1%
1Y
-46.8%

ARE: Governance Shift And Impairment Reset Will Shape Future Upside Potential

Analysts have trimmed their price target on Alexandria Real Estate Equities by about $1.36. This reflects updated views on fair value, profit margins and the appropriate discount rate for the shares.
MRP
US$27.63
Millrose Properties
7D
-2.3%
1Y
15.4%
EQIX
US$1,000.37
Equinix
7D
3.9%
1Y
30.6%
DLR
US$181.69
Digital Realty Trust
7D
3.6%
1Y
32.1%

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$4.74
Opendoor Technologies
7D
-1.3%
1Y
379.8%

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.
SPG
US$188.67
Simon Property Group
7D
4.7%
1Y
29.2%
FRMI
US$5.36
Fermi
7D
-13.3%
1Y
n/a
SBAC
US$204.04
SBA Communications
7D
22.1%
1Y
-7.2%

SBAC: Churn Reset And Steady Carrier Activity Will Support Post 2026 Cash Flows

Narrative Update The analyst price target for SBA Communications has edged down by about $1 to roughly $223, as analysts factor in slightly higher discount rates, modestly different revenue growth and margin expectations, and broadly mixed target revisions across recent research updates. Analyst Commentary Recent research on SBA Communications shows a mix of optimism about the tower portfolio and caution around customer churn, international exposure, and financing costs.
SVC
US$1.27
Service Properties Trust
7D
-28.7%
1Y
-34.5%
LB
US$69.23
LandBridge
7D
-3.9%
1Y
16.1%

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).
BEKE
US$14.81
KE Holdings
7D
-3.3%
1Y
-24.3%

BEKE: Softer Outlook And Downgrades Will Test Premium Multiple Going Forward

KE Holdings' latest analyst price target has been revised to $23 from $25, as analysts factor in softer revenue expectations and profit margins, along with a higher assumed P/E multiple for the stock. Analyst Commentary Recent Street research signals a more cautious tone around KE Holdings, with price targets trimmed and at least one downgrade highlighting rising concern around the balance between growth expectations, margins, and valuation.
PLD
US$133.77
Prologis
7D
3.8%
1Y
36.2%
WELL
US$202.33
Welltower
7D
3.4%
1Y
41.2%

WELL: Data Science Alliance And 2026 Earnings Outlook Will Support Future Upside

Analysts have raised their price target for Welltower from $228.10 to $229.30, reflecting updated assumptions related to discount rates, revenue growth, profit margins, and future P/E expectations. What's in the News Welltower and Public Storage announced a data science partnership that combines Welltower's capital allocation models with Public Storage's operational and pricing analytics to support more targeted real estate investments and operations (Key Developments).
DOC
US$16.52
Healthpeak Properties
7D
-0.4%
1Y
-10.4%

DOC: Earnings Guidance And Completed Buyback Will Shape Measured Future Return Potential

Analysts now hold their $16.00 price target on Healthpeak Properties while adjusting underlying assumptions slightly on discount rate, revenue growth, profit margin, and future P/E. This reflects fine tuning rather than a major shift in their view of the stock.
PSA
US$280.35
Public Storage
7D
5.4%
1Y
-1.5%
CCI
US$84.78
Crown Castle
7D
7.9%
1Y
-16.0%

CCI: Post 2026 Divestiture And Refocused Towers Will Ultimately Outweigh EchoStar Overhang

Analysts have trimmed their average price target for Crown Castle by a small amount to reflect slightly weaker organic growth expectations and modestly lower margin and revenue assumptions, even as some still highlight potential benefits from the planned small cell and fiber divestiture and a possible move toward low single digit revenue growth. Analyst Commentary Recent research on Crown Castle reflects a split view, with some focusing on the potential for a cleaner, tower-focused business after the planned small cell and fiber divestiture, and others concentrating on slower organic growth and trimmed leasing expectations.