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Canadian (TSX) Office REITs Industry Analysis

UpdatedOct 30, 2023
DataAggregated Company Financials
  • 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?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 30 Oct 2023CA$2.8bCA$1.1b-CA$302,896,395.00n/a-9.3x2.6x
Wed, 27 Sep 2023CA$3.3bCA$1.1b-CA$232,577,395.00n/a-14.3x3x
Fri, 25 Aug 2023CA$3.8bCA$1.1b-CA$232,544,067.00n/a-16.5x3.5x
Sun, 23 Jul 2023CA$4.2bCA$1.1b-CA$1,035,067.0036.4x-4055.9x3.7x
Tue, 20 Jun 2023CA$4.4bCA$1.1b-CA$1,035,067.0048.5x-4252.8x3.9x
Thu, 18 May 2023CA$4.4bCA$1.1b-CA$1,019,529.0048.6x-4337.8x3.9x
Sat, 15 Apr 2023CA$4.5bCA$1.1bCA$195.6m14.2x23.1x3.9x
Mon, 13 Mar 2023CA$5.5bCA$1.1bCA$262.3m10.1x20.8x4.8x
Wed, 08 Feb 2023CA$6.0bCA$1.2bCA$472.3m4.4x12.7x5.1x
Fri, 06 Jan 2023CA$5.2bCA$1.3bCA$793.7m4.2x6.6x4.2x
Sun, 04 Dec 2022CA$5.2bCA$1.3bCA$793.7m4.3x6.6x4.2x
Tue, 01 Nov 2022CA$5.3bCA$1.3bCA$872.7m6x6.1x4.2x
Thu, 29 Sep 2022CA$5.4bCA$1.2bCA$935.3m5.5x5.8x4.3x
Sat, 27 Aug 2022CA$6.2bCA$1.2bCA$935.3m6.2x6.7x5x
Mon, 25 Jul 2022CA$6.6bCA$1.2bCA$891.4m7.1x7.4x5.3x
Wed, 22 Jun 2022CA$6.7bCA$1.2bCA$891.4m7.3x7.5x5.4x
Fri, 20 May 2022CA$7.5bCA$1.2bCA$891.4m8.2x8.4x6x
Sun, 17 Apr 2022CA$8.5bCA$1.2bCA$726.5m11.3x11.7x7.1x
Tue, 15 Mar 2022CA$8.8bCA$1.2bCA$732.8m11x12x7.3x
Thu, 10 Feb 2022CA$8.1bCA$1.2bCA$703.8m10.9x11.6x6.8x
Sat, 08 Jan 2022CA$8.4bCA$1.2bCA$627.7m12.4x13.4x7x
Mon, 06 Dec 2021CA$7.8bCA$1.2bCA$627.7m11.9x12.5x6.6x
Wed, 03 Nov 2021CA$8.1bCA$1.2bCA$548.7m17.3x14.8x6.8x
Fri, 01 Oct 2021CA$7.8bCA$1.2bCA$510.5m17.5x15.2x6.6x
Sun, 29 Aug 2021CA$8.1bCA$1.2bCA$510.5m18.2x15.8x6.8x
Mon, 05 Jul 2021CA$8.2bCA$1.2bCA$510.5m18.3x16.1x7x
Thu, 08 Apr 2021CA$7.5bCA$1.2bCA$516.4m16x14.4x6.4x
Sun, 10 Jan 2021CA$6.9bCA$1.2bCA$749.7m13.8x9.2x6x
Price to Earnings Ratio


Total Market Cap: CA$6.0bTotal Earnings: CA$1.0bTotal Revenue: CA$1.2bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Office REITs Industry Price to Earnings3Y Average -290.1x202120222023
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%
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?

CompanyLast Price7D1YValuation
AP.UN Allied Properties Real Estate Investment TrustCA$15.841.4%
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