Long Pond Real Estate Select ETF (LPRE) Valuation
LPRE valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 32.7 trailing earnings
- Forward P/E
- 25.4 analyst estimates
- Price / sales
- 2.90
- Price / book
- 2.60
- EV / EBITDA
- 15.4
- Earnings yield
- 3.06% inverse of P/E
- Dividend yield
- 2.94% of the holdings
- Return on equity
- 8.0% combined
- Net margin
- 8.9% combined
- Beta
- 1.00 weighted, vs S&P 500
LPRE valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| LPRE | 32.7 | 25.4 | 2.90 | 2.60 | 2.94% | 8.0% | 8.9% | 7.5% |
| SPY | 25.9 | 19.9 | 3.67 | 5.47 | 1.08% | 21.1% | 14.2% | 1.9% |
| QQQ | 34.2 | 23.4 | 5.93 | 9.27 | 0.58% | 27.1% | 17.4% | 6.9% |
| DIA | 20.9 | 18.4 | 3.16 | 5.52 | 1.55% | 26.4% | 15.1% | 0.0% |
| VTI | 28.2 | 19.4 | 3.31 | 5.00 | 1.07% | 17.7% | 11.8% | 4.6% |
| IWM | n/m | 13.9 | 1.25 | 2.03 | 1.38% | −1.7% | −1.0% | 28.1% |
Same method for every fund. n/m = not meaningful (combined trailing earnings below zero or close to it). Loss-makers = weight of holdings with negative trailing earnings.
LPRE valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Real Estate | 66.7% | 44.8 | 36.8 | 6.42 | 2.28 | 4.07% | 5.1% |
| Consumer Cyclical | 33.2% | 21.4 | 16.2 | 1.40 | 3.62 | 0.73% | 16.9% |
LPRE earnings yield vs bond yields
Earnings yield = earnings ÷ price (1 ÷ P/E). The gap to bond yields is a rough gauge of the extra return stocks are priced to deliver.
How LPRE weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
LPRE largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| ELS | Equity LifeStyle Properties, Inc. | 8.12% | 29.6 | 28.6 | 7.8 | 3.55% | 9.13% |
| IRT | Independence Realty Trust, Inc. | 7.65% | 82.1 | 69.4 | 5.3 | 4.87% | 3.10% |
| H | Hyatt Hotels Corporation | 7.07% | 208.8 | 27.9 | 4.7 | 0.35% | 1.13% |
| HGV | Hilton Grand Vacations Inc. | 6.25% | 20.1 | 11.4 | 0.6 | — | 10.33% |
| MAA | Mid-America Apartment Communities, Inc. | 5.95% | 34.1 | 33.6 | 6.3 | 5.25% | 5.80% |
| SBAC | SBA Communications Corporation | 5.79% | 20.2 | 19.4 | 6.9 | 2.67% | 9.55% |
| ADC | Agree Realty Corporation | 5.71% | 36.0 | 35.1 | 10.7 | 4.85% | 5.27% |
| PLD | Prologis, Inc. | 5.04% | 27.7 | 29.2 | 12.4 | 3.40% | 6.06% |
| UDR | UDR, Inc. | 5.03% | 21.7 | 51.5 | 7.1 | 5.08% | 7.71% |
| INVH | Invitation Homes Inc. | 4.89% | 24.8 | 30.4 | 5.6 | 4.43% | 6.54% |
| JAN | JanOne Inc. | 4.65% | — | — | 12.5 | 1.96% | −1.21% |
| DHI | D.R. Horton, Inc. | 4.63% | 12.9 | 11.9 | 1.2 | 1.29% | 11.94% |
| RRR | Red Rock Resorts, Inc. | 4.05% | 17.4 | 16.3 | 2.5 | 2.11% | 7.73% |
| CHDN | Churchill Downs Incorporated | 3.89% | 13.9 | 22.9 | 1.9 | 0.54% | 9.28% |
| HLT | Hilton Worldwide Holdings Inc. | 3.27% | 50.6 | 28.7 | 15.2 | 0.17% | 2.15% |
| DLR | Digital Realty Trust, Inc. | 3.27% | 85.4 | 66.2 | 9.8 | 2.77% | 1.27% |
| CPT | Camden Property Trust | 3.06% | 32.5 | 62.5 | 7.2 | 4.30% | 3.13% |
| COLD | Americold Realty Trust, Inc. | 2.71% | — | 119.0 | 1.5 | 6.66% | −10.32% |
| WYNN | Wynn Resorts, Limited | 2.65% | 18.1 | 13.9 | 1.1 | 1.32% | 4.87% |
| EQR | Equity Residential | 1.50% | — | — | — | — | — |
| TOL | Toll Brothers, Inc. | 1.35% | 10.8 | 10.0 | 1.1 | 0.78% | 4.17% |
| EQIX | Equinix, Inc. | 1.26% | 63.4 | 52.1 | 9.8 | 2.09% | 0.66% |
| SUI | Sun Communities, Inc. | 1.08% | 89.5 | 33.8 | 6.5 | 3.79% | 0.40% |
| AMH | American Homes 4 Rent | 0.97% | 24.8 | 200.0 | 6.8 | 4.22% | 1.31% |
Share of earnings = the holding's part of the fund's combined trailing profit. Green: earns more than its weight; orange: less. Symbol links go to each company's key metrics.
About LPRE valuation
Adding up its 23 holdings with company data, LPRE trades at 32.7 times trailing earnings and 25.4 times analysts' forward estimates, with a price-to-book ratio of 2.60 and a dividend yield of 2.94%. Its earnings yield of 3.06% is 2.27 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 61.5% of the fund and earn 64.6% of its combined profit. By sector, Real Estate is the most expensive at 44.8 times earnings and Consumer Cyclical the cheapest at 21.4. Companies that lost money over the past year are 7.5% of the covered weight.
How these figures are calculated. Each ratio treats the fund as one company: the earnings, sales and book value of every holding are added up in proportion to its weight and divided into the fund's price. In practice that is a weighted harmonic mean, so a single stock with a very high P/E cannot distort the result, and loss-making companies reduce the fund's earnings instead of being dropped. Covers 98.5% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: LPRE chart, LPRE performance, LPRE holdings, LPRE dividends.
LPRE valuation FAQ
What is the P/E ratio of LPRE?
Based on its holdings, LPRE has a trailing P/E of 32.7 and a forward P/E of 25.4 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of LPRE?
The trailing earnings yield is 3.06% (1 ÷ P/E) and the forward earnings yield 3.94%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is LPRE more expensive than the S&P 500?
LPRE trades at 32.7 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 25.4 and 19.9.
What is the price-to-book ratio of LPRE?
The holdings of LPRE trade at 2.60 times book value, with a combined return on equity of 8.0%.
Which sector in LPRE has the highest P/E?
Real Estate has the highest P/E at 44.8 and Consumer Cyclical the lowest at 21.4.