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U.S. Specialized REITs Industry Analysis

UpdatedApr 05, 2026
DataAggregated Company Financials
Companies24
  • 7D3.4%
  • 3M8.5%
  • 1Y3.3%
  • YTD9.3%

SBA Communications is up 22%, leading the way for the Specialized REITs industry, which has gained 3.4%. Meanwhile, Fermi actually underperformed within the industry, shrinking 13% in the last week. This means that the industry has gained 3.3% over the past year. Looking forward, earnings are forecast to grow by 8.7% annually.

Industry Valuation and Performance

Has the U.S. Specialized REITs Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 05 Apr 2026US$434.6bUS$55.7bUS$13.2b29.1x33x7.8x
Tue, 03 Mar 2026US$458.1bUS$55.7bUS$13.7b31.4x33.5x8.2x
Thu, 29 Jan 2026US$421.1bUS$56.7bUS$14.0b28.3x30.2x7.4x
Sat, 27 Dec 2025US$400.5bUS$56.7bUS$14.0b27.6x28.7x7.1x
Mon, 24 Nov 2025US$408.2bUS$56.7bUS$14.0b28.3x29.3x7.2x
Wed, 22 Oct 2025US$449.9bUS$55.7bUS$13.0b29.5x34.7x8.1x
Fri, 19 Sep 2025US$428.6bUS$55.7bUS$13.0b29.9x33x7.7x
Sun, 17 Aug 2025US$429.1bUS$55.7bUS$13.0b29.1x33.1x7.7x
Tue, 15 Jul 2025US$438.7bUS$55.2bUS$12.4b28.6x35.4x8x
Thu, 12 Jun 2025US$456.9bUS$55.2bUS$12.4b29.2x36.9x8.3x
Sat, 10 May 2025US$444.2bUS$55.1bUS$12.3b27.9x36.2x8.1x
Mon, 07 Apr 2025US$417.7bUS$54.8bUS$12.8b27.6x32.7x7.6x
Wed, 05 Mar 2025US$494.1bUS$60.9bUS$14.1b28.7x35x8.1x
Fri, 31 Jan 2025US$465.3bUS$61.6bUS$13.2b25.4x35.4x7.6x
Sun, 29 Dec 2024US$471.2bUS$61.6bUS$13.2b24.4x35.8x7.7x
Tue, 26 Nov 2024US$508.7bUS$61.5bUS$13.1b29.2x38.9x8.3x
Thu, 24 Oct 2024US$507.8bUS$61.7bUS$14.4b30.1x35.3x8.2x
Sat, 21 Sep 2024US$523.2bUS$61.7bUS$14.3b30.1x36.5x8.5x
Mon, 19 Aug 2024US$488.8bUS$61.7bUS$14.3b27.1x34.1x7.9x
Wed, 17 Jul 2024US$474.4bUS$61.3bUS$13.5b26.8x35.2x7.7x
Fri, 14 Jun 2024US$450.6bUS$61.3bUS$13.5b25.6x33.5x7.4x
Sun, 12 May 2024US$440.0bUS$61.3bUS$13.5b25x32.7x7.2x
Tue, 09 Apr 2024US$448.9bUS$61.0bUS$12.7b25.5x35.3x7.4x
Thu, 07 Mar 2024US$472.2bUS$61.0bUS$12.7b24.9x37.2x7.7x
Sat, 03 Feb 2024US$466.7bUS$61.0bUS$11.8b28.6x39.6x7.7x
Mon, 01 Jan 2024US$487.9bUS$60.9bUS$11.5b32.2x42.3x8x
Wed, 29 Nov 2023US$449.7bUS$60.9bUS$11.5b30.9x39x7.4x
Fri, 27 Oct 2023US$400.7bUS$60.6bUS$13.6b26.1x29.5x6.6x
Sun, 24 Sep 2023US$414.8bUS$60.1bUS$13.7b26.9x30.3x6.9x
Tue, 22 Aug 2023US$429.3bUS$60.1bUS$13.7b27.7x31.4x7.1x
Thu, 20 Jul 2023US$451.5bUS$60.0bUS$14.6b24.5x31x7.5x
Sat, 17 Jun 2023US$440.7bUS$60.0bUS$14.6b23.5x30.3x7.3x
Mon, 15 May 2023US$440.1bUS$60.0bUS$14.6b23.6x30.2x7.3x
Wed, 12 Apr 2023US$457.3bUS$59.8bUS$15.3b28.2x30x7.6x
Price to Earnings Ratio

30x


Total Market Cap: US$457.3bTotal Earnings: US$15.3bTotal Revenue: US$59.8bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Specialized REITs Industry Price to Earnings3Y Average 34.2x202420252026
Current Industry PE
  • Investors are relatively neutral on the American Specialized REITs 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 34.2x.
  • The industry is trading close to its 3-year average PS ratio of 7.6x.
Past Earnings Growth
  • The earnings for companies in the Specialized REITs industry have declined 4.8% per year over the last three years,
  • Revenues have also declined 2.4% per year.
  • This means overall sales from these companies are declining and profits are subsequently falling as well.

Industry Trends

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

US Market3.46%
Real Estate2.85%
Specialized REITs3.35%
Self-Storage REITs4.67%
Data Center REITs3.34%
Timber REITs2.63%
Telecom Tower REITs2.48%
Industry PE
  • Investors are most optimistic about the Data Center REITs industry, which is trading close to its 3-year average PE ratio of 77.6x.
    • Analysts are expecting annual earnings growth of 7.5%, which is lower than the prior year's growth of 95.7% per year.
  • Investors are most pessimistic about the Telecom Tower REITs industry, which is trading below its 3-year average of 41.6x.
Forecasted Growth
  • Analysts are most optimistic on the Timber REITs industry, expecting annual earnings growth of 29% over the next 5 years.
  • This is better than its past earnings decline of 50% per year.
  • In contrast, the Self-Storage REITs industry is expected to see its earnings grow by 6.4% 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
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
CCI Crown CastleUS$84.787.9%
+US$2.7b		-16.0%PE33.5x
PSA Public StorageUS$280.355.4%
+US$2.5b		-1.5%PB10x
DLR Digital Realty TrustUS$181.693.6%
+US$2.2b		32.1%PB2.8x

Latest News

PW
US$0.79
Power REIT
7D
-2.3%
1Y
-22.7%
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.
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.
AMT
US$173.73
American Tower
7D
2.5%
1Y
-21.1%
VICI
US$27.66
VICI Properties
7D
3.9%
1Y
-9.6%
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.
IRM
US$103.30
Iron Mountain
7D
5.1%
1Y
33.8%