iShares Residential and Multisector Real… (REZ) Valuation
REZ valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 47.5 trailing earnings
- Forward P/E
- 36.0 analyst estimates
- Price / sales
- 7.79
- Price / book
- 2.64
- EV / EBITDA
- 21.1
- Earnings yield
- 2.10% inverse of P/E
- Dividend yield
- 3.76% of the holdings
- Return on equity
- 5.6% combined
- Net margin
- 16.4% combined
- Beta
- 0.79 weighted, vs S&P 500
REZ valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| REZ | 47.5 | 36.0 | 7.79 | 2.64 | 3.76% | 5.6% | 16.4% | 4.8% |
| 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.
REZ valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Real Estate | 99.4% | 47.5 | 36.0 | 7.79 | 2.64 | 3.76% | 5.6% |
REZ 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 REZ weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
REZ largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| WELL | Welltower Inc. | 22.22% | 105.3 | 78.1 | 13.3 | 1.45% | 10.09% |
| PSA | Public Storage | 8.35% | 28.5 | 27.2 | 11.4 | 4.02% | 14.02% |
| VMRK | Vivmark Residential | 7.64% | 23.5 | 36.1 | 15.3 | 4.59% | 15.56% |
| VTR | Ventas, Inc. | 7.05% | 159.0 | 128.2 | 6.9 | 2.42% | 2.12% |
| ESS | Essex Property Trust, Inc. | 4.61% | 41.9 | 43.9 | 9.4 | 3.85% | 5.26% |
| EXR | Extra Space Storage Inc. | 4.60% | 30.8 | 29.0 | 8.8 | 4.64% | 7.14% |
| INVH | Invitation Homes Inc. | 4.05% | 24.8 | 30.4 | 5.6 | 4.43% | 7.80% |
| SUI | Sun Communities, Inc. | 3.65% | 89.5 | 33.8 | 6.5 | 3.79% | 1.95% |
| DOC | Healthpeak Properties, Inc. | 3.38% | 54.2 | 169.5 | 4.6 | 6.43% | 2.98% |
| MAA | Mid-America Apartment Communities, Inc. | 3.32% | 34.1 | 33.6 | 6.3 | 5.25% | 4.66% |
| OHI | Omega Healthcare Investors, Inc. | 3.32% | 16.3 | 10.1 | 11.6 | 5.96% | 9.74% |
| ELS | Equity LifeStyle Properties, Inc. | 3.01% | 29.6 | 28.6 | 7.8 | 3.55% | 4.86% |
| UDR | UDR, Inc. | 2.80% | 21.7 | 51.5 | 7.1 | 5.08% | 6.18% |
| AMH | American Homes 4 Rent | 2.67% | 24.8 | 200.0 | 6.8 | 4.22% | 5.14% |
| AHR | American Healthcare REIT, Inc. | 2.53% | 79.4 | 48.1 | 4.6 | 1.88% | 1.52% |
| CPT | Camden Property Trust | 2.43% | 32.5 | 62.5 | 7.2 | 4.30% | 3.57% |
| CUBE | CubeSmart | 2.28% | 26.7 | 24.4 | 7.7 | 5.44% | 4.08% |
| CTRE | CareTrust REIT, Inc. | 2.10% | 22.8 | 21.3 | 15.1 | 4.27% | 4.39% |
| ARE | Alexandria Real Estate Equities, Inc. | 1.78% | — | 16.7 | 2.5 | 6.92% | −12.38% |
| HR | Healthcare Realty Trust Incorporated | 1.48% | — | 10.8 | 5.3 | 5.49% | −1.04% |
| SBRA | Sabra Health Care REIT, Inc. | 1.16% | 77.4 | 32.2 | 5.7 | 6.20% | 0.72% |
| IRT | Independence Realty Trust, Inc. | 0.89% | 82.1 | 69.4 | 5.3 | 4.87% | 0.52% |
| NHI | National Health Investors, Inc. | 0.76% | 19.2 | 18.1 | 7.5 | 5.67% | 1.91% |
| LTC | LTC Properties, Inc. | 0.52% | 15.6 | 12.5 | 6.9 | 5.22% | 1.58% |
| JAN | JanOne Inc. | 0.50% | — | — | 12.5 | 1.96% | −0.18% |
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 REZ valuation
Adding up its 36 holdings with company data, REZ trades at 47.5 times trailing earnings and 36.0 times analysts' forward estimates, with a price-to-book ratio of 2.64 and a dividend yield of 3.76%. Its earnings yield of 2.10% is 3.22 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 68.9% of the fund and earn 71.6% of its combined profit. Companies that lost money over the past year are 4.8% 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 100.0% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: REZ chart, REZ performance, REZ holdings, REZ dividends.
REZ valuation FAQ
What is the P/E ratio of REZ?
Based on its holdings, REZ has a trailing P/E of 47.5 and a forward P/E of 36.0 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of REZ?
The trailing earnings yield is 2.10% (1 ÷ P/E) and the forward earnings yield 2.78%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is REZ more expensive than the S&P 500?
REZ trades at 47.5 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 36.0 and 19.9.
What is the price-to-book ratio of REZ?
The holdings of REZ trade at 2.64 times book value, with a combined return on equity of 5.6%.