U.S. Diversified Real Estate (PPTY) Valuation
PPTY valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 34.7 trailing earnings
- Forward P/E
- 33.3 analyst estimates
- Price / sales
- 6.18
- Price / book
- 1.89
- EV / EBITDA
- 15.9
- Earnings yield
- 2.88% inverse of P/E
- Dividend yield
- 4.34% of the holdings
- Return on equity
- 5.5% combined
- Net margin
- 17.8% combined
- Beta
- 0.98 weighted, vs S&P 500
PPTY valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| PPTY | 34.7 | 33.3 | 6.18 | 1.89 | 4.34% | 5.5% | 17.8% | 3.1% |
| 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.
PPTY valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Real Estate | 93.8% | 34.4 | 34.6 | 6.07 | 1.77 | 4.62% | 5.2% |
| Consumer Cyclical | 6.2% | 40.9 | 23.7 | 9.33 | 28.69 | 0.64% | 70.1% |
| Healthcare | 0.3% | 27.0 | 9.9 | 2.44 | 3.14 | 1.10% | 11.6% |
PPTY 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 PPTY weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
PPTY largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| EQR | Equity Residential | 7.30% | — | — | — | — | — |
| EQIX | Equinix, Inc. | 4.07% | 63.4 | 52.1 | 9.8 | 2.09% | 2.40% |
| PLD | Prologis, Inc. | 3.90% | 27.7 | 29.2 | 12.4 | 3.40% | 5.27% |
| FCPT | Four Corners Property Trust, Inc. | 3.81% | 20.0 | 20.2 | 7.9 | 6.90% | 7.13% |
| DLR | Digital Realty Trust, Inc. | 3.33% | 85.4 | 66.2 | 9.8 | 2.77% | 1.46% |
| WELL | Welltower Inc. | 3.16% | 105.3 | 78.1 | 13.3 | 1.45% | 1.12% |
| KRC | Kilroy Realty Corporation | 2.85% | 24.4 | 99.0 | 3.7 | 6.20% | 4.38% |
| SPG | Simon Property Group, Inc. | 2.79% | 14.5 | 30.7 | 11.2 | 4.33% | 7.19% |
| AMH | American Homes 4 Rent | 2.73% | 24.8 | 200.0 | 6.8 | 4.22% | 4.11% |
| TRNO | Terreno Realty Corporation | 2.53% | 17.2 | 80.0 | 13.9 | 3.56% | 5.50% |
| MAR | Marriott International, Inc. | 2.52% | 40.1 | 26.5 | 13.7 | 0.75% | 2.35% |
| DEA | Easterly Government Properties, Inc. | 2.37% | 114.8 | 73.0 | 2.9 | 8.25% | 0.77% |
| HLT | Hilton Worldwide Holdings Inc. | 2.14% | 50.6 | 28.7 | 15.2 | 0.17% | 1.58% |
| UDR | UDR, Inc. | 2.12% | 21.7 | 51.5 | 7.1 | 5.08% | 3.66% |
| ESS | Essex Property Trust, Inc. | 2.09% | 41.9 | 43.9 | 9.4 | 3.85% | 1.87% |
| BXP | BXP, Inc. | 2.09% | 31.8 | 27.3 | 3.4 | 4.73% | 2.45% |
| STAG | STAG Industrial, Inc. | 2.06% | 27.6 | 144.9 | 8.0 | 4.33% | 2.80% |
| HIW | Highwoods Properties, Inc. | 2.05% | 19.4 | 65.8 | 3.9 | 6.82% | 3.94% |
| ARE | Alexandria Real Estate Equities, Inc. | 1.93% | — | 16.7 | 2.5 | 6.92% | −10.48% |
| MAA | Mid-America Apartment Communities, Inc. | 1.93% | 34.1 | 33.6 | 6.3 | 5.25% | 2.11% |
| WPC | W. P. Carey Inc. | 1.72% | 22.3 | 24.2 | 8.2 | 5.83% | 2.89% |
| IIPR | Innovative Industrial Properties, Inc. | 1.65% | 11.9 | 12.4 | 5.5 | 14.51% | 5.22% |
| CPT | Camden Property Trust | 1.64% | 32.5 | 62.5 | 7.2 | 4.30% | 1.88% |
| EGP | EastGroup Properties, Inc. | 1.63% | 34.5 | 42.0 | 14.1 | 3.56% | 1.77% |
| CDP | COPT Defense Properties | 1.60% | 23.1 | 38.2 | 4.9 | 3.84% | 2.59% |
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 PPTY valuation
Adding up its 81 holdings with company data, PPTY trades at 34.7 times trailing earnings and 33.3 times analysts' forward estimates, with a price-to-book ratio of 1.89 and a dividend yield of 4.34%. Its earnings yield of 2.88% is 2.45 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 36.5% of the fund and earn 40.9% of its combined profit. By sector, Consumer Cyclical is the most expensive at 40.9 times earnings and Healthcare the cheapest at 27.0. Companies that lost money over the past year are 3.1% 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 92.5% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: PPTY chart, PPTY performance, PPTY holdings, PPTY dividends.
PPTY valuation FAQ
What is the P/E ratio of PPTY?
Based on its holdings, PPTY has a trailing P/E of 34.7 and a forward P/E of 33.3 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of PPTY?
The trailing earnings yield is 2.88% (1 ÷ P/E) and the forward earnings yield 3.00%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is PPTY more expensive than the S&P 500?
PPTY trades at 34.7 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 33.3 and 19.9.
What is the price-to-book ratio of PPTY?
The holdings of PPTY trade at 1.89 times book value, with a combined return on equity of 5.5%.
Which sector in PPTY has the highest P/E?
Consumer Cyclical has the highest P/E at 40.9 and Healthcare the lowest at 27.0.