Invesco Active U.S. Real Estate Fund (PSR) Valuation
PSR valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 31.7 trailing earnings
- Forward P/E
- 34.3 analyst estimates
- Price / sales
- 7.72
- Price / book
- 3.01
- EV / EBITDA
- 18.3
- Earnings yield
- 3.16% inverse of P/E
- Dividend yield
- 3.75% of the holdings
- Return on equity
- 9.5% combined
- Net margin
- 24.4% combined
- Beta
- 0.95 weighted, vs S&P 500
PSR valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| PSR | 31.7 | 34.3 | 7.72 | 3.01 | 3.75% | 9.5% | 24.4% | 0.9% |
| 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.
PSR valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Real Estate | 99.5% | 31.7 | 34.3 | 7.72 | 3.01 | 3.75% | 9.5% |
PSR 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 PSR weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
PSR largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| WELL | Welltower Inc. | 10.39% | 105.3 | 78.1 | 13.3 | 1.45% | 3.14% |
| PLD | Prologis, Inc. | 8.34% | 27.7 | 29.2 | 12.4 | 3.40% | 9.59% |
| AMT | American Tower Corporation | 7.32% | 25.5 | 24.6 | 7.9 | 3.86% | 9.15% |
| EQIX | Equinix, Inc. | 7.23% | 63.4 | 52.1 | 9.8 | 2.09% | 3.63% |
| DLR | Digital Realty Trust, Inc. | 5.87% | 85.4 | 66.2 | 9.8 | 2.77% | 2.19% |
| PSA | Public Storage | 3.71% | 28.5 | 27.2 | 11.4 | 4.02% | 4.15% |
| UDR | UDR, Inc. | 3.45% | 21.7 | 51.5 | 7.1 | 5.08% | 5.07% |
| CPT | Camden Property Trust | 3.40% | 32.5 | 62.5 | 7.2 | 4.30% | 3.33% |
| CCI | Crown Castle Inc. | 3.37% | 33.4 | 21.2 | 8.4 | 5.17% | 3.21% |
| SPG | Simon Property Group, Inc. | 3.22% | 14.5 | 30.7 | 11.2 | 4.33% | 7.08% |
| ELS | Equity LifeStyle Properties, Inc. | 2.68% | 29.6 | 28.6 | 7.8 | 3.55% | 2.88% |
| TRNO | Terreno Realty Corporation | 2.52% | 17.2 | 80.0 | 13.9 | 3.56% | 4.67% |
| GLPI | Gaming and Leisure Properties, Inc. | 2.42% | 11.5 | 11.8 | 7.1 | 8.35% | 6.70% |
| VTR | Ventas, Inc. | 2.40% | 159.0 | 128.2 | 6.9 | 2.42% | 0.48% |
| BNL | Broadstone Net Lease, Inc. | 2.34% | 23.9 | 24.6 | 8.1 | 6.45% | 3.12% |
| BRX | Brixmor Property Group Inc. | 2.30% | 19.8 | 25.2 | 6.0 | 4.45% | 3.71% |
| CUBE | CubeSmart | 2.29% | 26.7 | 24.4 | 7.7 | 5.44% | 2.73% |
| WPC | W. P. Carey Inc. | 2.26% | 22.3 | 24.2 | 8.2 | 5.83% | 3.23% |
| RYN | Rayonier Inc. | 2.09% | 41.3 | 32.7 | 5.9 | 5.48% | 1.61% |
| DOC | Healthpeak Properties, Inc. | 2.04% | 54.2 | 169.5 | 4.6 | 6.43% | 1.20% |
| CTRE | CareTrust REIT, Inc. | 1.98% | 22.8 | 21.3 | 15.1 | 4.27% | 2.77% |
| VNO | Vornado Realty Trust | 1.72% | 823.2 | 57.1 | 3.6 | 2.25% | 0.07% |
| AMH | American Homes 4 Rent | 1.64% | 24.8 | 200.0 | 6.8 | 4.22% | 2.10% |
| BXP | BXP, Inc. | 1.64% | 31.8 | 27.3 | 3.4 | 4.73% | 1.64% |
| RHP | Ryman Hospitality Properties, Inc. | 1.62% | 30.7 | 25.8 | 3.2 | 3.81% | 1.69% |
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 PSR valuation
Adding up its 35 holdings with company data, PSR trades at 31.7 times trailing earnings and 34.3 times analysts' forward estimates, with a price-to-book ratio of 3.01 and a dividend yield of 3.75%. Its earnings yield of 3.16% is 2.17 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 56.3% of the fund and earn 50.5% of its combined profit. Companies that lost money over the past year are 0.9% 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 100.00% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: PSR chart, PSR performance, PSR holdings, PSR dividends.
PSR valuation FAQ
What is the P/E ratio of PSR?
Based on its holdings, PSR has a trailing P/E of 31.7 and a forward P/E of 34.3 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of PSR?
The trailing earnings yield is 3.16% (1 ÷ P/E) and the forward earnings yield 2.91%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is PSR more expensive than the S&P 500?
PSR trades at 31.7 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 34.3 and 19.9.
What is the price-to-book ratio of PSR?
The holdings of PSR trade at 3.01 times book value, with a combined return on equity of 9.5%.