Canadian (TSX) Residential REITs Industry Analysis
UpdatedOct 30, 2023
DataAggregated Company Financials
Companies12
- 7D-3.1%
- 3M-14.7%
- 1Y-0.7%
- YTD-3.0%
Over the last 7 days, the Residential REITs industry has dropped 3.1%, driven by a pullback from Canadian Apartment Properties Real Estate Investment Trust of 1.7%. Over the last year, the industry has been flat overall. As for the next few years, earnings are expected to grow by 51% per annum.
Industry Valuation and Performance
Has the Canadian Residential REITs Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Mon, 30 Oct 2023 | CA$17.2b | CA$3.1b | CA$744.7m | 7.7x | 23.1x | 5.5x |
| Wed, 27 Sep 2023 | CA$18.7b | CA$3.1b | CA$777.7m | 10.7x | 24.1x | 6.1x |
| Fri, 25 Aug 2023 | CA$19.3b | CA$3.1b | CA$774.4m | 8.4x | 24.9x | 6.2x |
| Sun, 23 Jul 2023 | CA$20.4b | CA$3.0b | CA$1.1b | 4.4x | 18.4x | 6.8x |
| Tue, 20 Jun 2023 | CA$19.2b | CA$3.0b | CA$1.1b | 4.4x | 17.4x | 6.4x |
| Thu, 18 May 2023 | CA$19.8b | CA$3.0b | CA$1.1b | 4.6x | 17.7x | 6.6x |
| Sat, 15 Apr 2023 | CA$19.4b | CA$3.0b | CA$1.6b | 3.7x | 12.3x | 6.5x |
Price to Earnings Ratio
12.2x
Current Industry PE
- Investors are optimistic on the Canadian Residential REITs industry, and appear confident in long term growth rates.
- The industry is trading at a PE ratio of 23.1x which is higher than its 3-year average PE of 19.2x.
- The 3-year average PS ratio of 6.4x is higher than the industry's current PS ratio of 5.5x.
Past Earnings Growth
- The earnings for companies in the Residential REITs industry have declined 22% 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 Canadian Real Estate industry?
| CA Market | -1.70% | |
| Real Estate | -1.97% | |
| Residential REITs | -3.07% | |
| Single-Family Residential REITs | 0.60% | |
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 | |
|---|---|---|---|---|---|
| MI.UN Minto Apartment Real Estate Investment Trust | CA$13.03 | 0.6% +CA$3.2m | -2.3% | PB0.5x | |
| MHC.UN Flagship Communities Real Estate Investment Trust | CA$20.11 | 0.6% +CA$1.9m | 2.3% | PB0.5x |