Canadian (TSX) Office REITs Industry Analysis
UpdatedOct 30, 2023
DataAggregated Company Financials
Companies6
- 7D-4.9%
- 3M-31.4%
- 1Y-48.9%
- YTD-46.6%
Over the last 7 days, the Office REITs industry has dropped 4.9%, driven by a pullback from True North Commercial Real Estate Investment Trust of 19%. Overall the industry is down 49% in 12 months. Earnings are forecast to grow by 73% annually.
Industry Valuation and Performance
Has the Canadian Office REITs Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Mon, 30 Oct 2023 | CA$2.8b | CA$1.1b | -CA$302,896,395.00 | n/a | -9.3x | 2.6x |
| Wed, 27 Sep 2023 | CA$3.3b | CA$1.1b | -CA$232,577,395.00 | n/a | -14.3x | 3x |
| Fri, 25 Aug 2023 | CA$3.8b | CA$1.1b | -CA$232,544,067.00 | n/a | -16.5x | 3.5x |
| Sun, 23 Jul 2023 | CA$4.2b | CA$1.1b | -CA$1,035,067.00 | 36.4x | -4055.9x | 3.7x |
| Tue, 20 Jun 2023 | CA$4.4b | CA$1.1b | -CA$1,035,067.00 | 48.5x | -4252.8x | 3.9x |
| Thu, 18 May 2023 | CA$4.4b | CA$1.1b | -CA$1,019,529.00 | 48.6x | -4337.8x | 3.9x |
| Sat, 15 Apr 2023 | CA$4.5b | CA$1.1b | CA$195.6m | 14.2x | 23.1x | 3.9x |
| Mon, 13 Mar 2023 | CA$5.5b | CA$1.1b | CA$262.3m | 10.1x | 20.8x | 4.8x |
| Wed, 08 Feb 2023 | CA$6.0b | CA$1.2b | CA$472.3m | 4.4x | 12.7x | 5.1x |
| Fri, 06 Jan 2023 | CA$5.2b | CA$1.3b | CA$793.7m | 4.2x | 6.6x | 4.2x |
| Sun, 04 Dec 2022 | CA$5.2b | CA$1.3b | CA$793.7m | 4.3x | 6.6x | 4.2x |
| Tue, 01 Nov 2022 | CA$5.3b | CA$1.3b | CA$872.7m | 6x | 6.1x | 4.2x |
| Thu, 29 Sep 2022 | CA$5.4b | CA$1.2b | CA$935.3m | 5.5x | 5.8x | 4.3x |
| Sat, 27 Aug 2022 | CA$6.2b | CA$1.2b | CA$935.3m | 6.2x | 6.7x | 5x |
| Mon, 25 Jul 2022 | CA$6.6b | CA$1.2b | CA$891.4m | 7.1x | 7.4x | 5.3x |
| Wed, 22 Jun 2022 | CA$6.7b | CA$1.2b | CA$891.4m | 7.3x | 7.5x | 5.4x |
| Fri, 20 May 2022 | CA$7.5b | CA$1.2b | CA$891.4m | 8.2x | 8.4x | 6x |
| Sun, 17 Apr 2022 | CA$8.5b | CA$1.2b | CA$726.5m | 11.3x | 11.7x | 7.1x |
| Tue, 15 Mar 2022 | CA$8.8b | CA$1.2b | CA$732.8m | 11x | 12x | 7.3x |
| Thu, 10 Feb 2022 | CA$8.1b | CA$1.2b | CA$703.8m | 10.9x | 11.6x | 6.8x |
| Sat, 08 Jan 2022 | CA$8.4b | CA$1.2b | CA$627.7m | 12.4x | 13.4x | 7x |
| Mon, 06 Dec 2021 | CA$7.8b | CA$1.2b | CA$627.7m | 11.9x | 12.5x | 6.6x |
| Wed, 03 Nov 2021 | CA$8.1b | CA$1.2b | CA$548.7m | 17.3x | 14.8x | 6.8x |
| Fri, 01 Oct 2021 | CA$7.8b | CA$1.2b | CA$510.5m | 17.5x | 15.2x | 6.6x |
| Sun, 29 Aug 2021 | CA$8.1b | CA$1.2b | CA$510.5m | 18.2x | 15.8x | 6.8x |
| Mon, 05 Jul 2021 | CA$8.2b | CA$1.2b | CA$510.5m | 18.3x | 16.1x | 7x |
| Thu, 08 Apr 2021 | CA$7.5b | CA$1.2b | CA$516.4m | 16x | 14.4x | 6.4x |
| Sun, 10 Jan 2021 | CA$6.9b | CA$1.2b | CA$749.7m | 13.8x | 9.2x | 6x |
Price to Earnings Ratio
5.9x
Current Industry PE
- Investors are pessimistic on the Canadian Office REITs industry, indicating that they anticipate long term growth rates will be lower than they have historically.
- The 3-year average PS ratio of 5.5x is higher than the industry's current PS ratio of 2.6x.
Past Earnings Growth
- Total earnings for the Office REITs industry have declined over the last three years, with the industry now making a loss overall.
- Revenues have also declined 3.6% per year, which is driving profits down.
Industry Comparison
How does Canadian Office REITs compare with similar industries?
| CA Market | -1.70% | |
| Real Estate | -1.97% | |
| REITS | -0.65% | |
| Office REITs | -4.86% | |
| Specialized REITs | -0.20% | |
| Industrial REITs | -1.56% | |
| Diversified REITs | -2.38% | |
| Retail REITs | -2.98% | |
| Residential REITs | -3.16% | |
| Healthcare REITs | -5.42% | |
| Hotel and Resort REITs | -11.31% | |
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| AP.UN Allied Properties Real Estate Investment Trust | CA$15.84 | 1.4% +CA$30.7m | -40.0% | PB0.3x |