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Primaris REITPMREF 81 Shiller PE Ratio is 9.22 as of Jul. 22, 2026, which is 38% above its 10-year median of 6.68. GuruFocus rates PMREF with a GF Score™ of 81/100 and a GF Value™ of $13.13 (Modestly Overvalued). The stock has 8 warning signs investors should review. Among 483 REITs companies, Primaris REIT ranks better than 71.84% on this metric.
As of today (2026-07-22), Primaris REIT's current share price is $16.50. Primaris REIT's E10 for the quarter that ended in Mar. 2026 was $1.79. Primaris REIT's Shiller PE Ratio for today is 9.22.
The historical rank and industry rank for Primaris REIT's Shiller PE Ratio or its related term are showing as below:
PMREF'
s Shiller PE Ratio Range Over the Past 10 Years
Min: 5.88 Med: 6.68 Max: 9.13
Current: 9.11
During the past years, Primaris REIT's highest Shiller PE Ratio was 9.13. The lowest was 5.88. And the median was 6.68.
PMREF's Shiller PE Ratio is ranked better than 71.84% of 483
companies
in the REITs industry
Industry Median: 13.64
vs PMREF: 9.11
E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years.
Primaris REIT's adjusted earnings per share data for the three months ended in Mar. 2026 was $0.259. Add all the adjusted EPS for the past 10 years together and divide 10 will get our E10, which is $1.79 for the trailing ten years ended in Mar. 2026.
Shiller PE for Stocks: The True Measure of Stock Valuation
Primaris REIT (OTCPK:PMREF) Shiller PE Ratio Explanation
Compared with the regular PE Ratio, which works poorly for cyclical businesses, the Shiller PE Ratio smoothed out the fluctuations of profit margins during business cycles. Therefore it is more accurate in reflecting the valuation of the company.
If a company has consistent business performance, the Shiller PE Ratio should give similar results to regular PE Ratio.
Compared with the PS Ratio, the Shiller PE Ratio makes the comparison between different industries more meaningful.
Be Aware
Shiller PE Ratio assumes that over the long term, businesses and profitability revert to their means. If a company's business model does not work in the future compared with the past, Shiller PE Ratio and PS Ratio will give false valuations.
Primaris REIT Shiller PE Ratio Related Terms
Primaris REIT Shiller PE Ratio Historical Data
* Premium members only.
The historical data trend for Primaris REIT's Shiller PE Ratio can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the REIT - Retail subindustry, Primaris REIT's Shiller PE Ratio, along with its competitors' market caps and Shiller PE Ratio data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Primaris REIT Shiller PE Ratio vs REITs Industry
For the REITs industry and Real Estate sector, Primaris REIT's Shiller PE Ratio distribution charts can be found below:
* The bar in red indicates where Primaris REIT's Shiller PE Ratio falls into.
For Shiller PE Ratio, the earnings of the past 10 years are inflation-adjusted and averaged. The result is used for P/E calculation. Since it looks at the average over the last 10 years, the Shiller PE Ratio is also called PE10.
The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The same calculation is applied here to individual companies.
Primaris REIT's Shiller PE Ratio for today is calculated as
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Primaris REIT's E10 for the quarter that ended in Mar. 2026 is calculated as:
For example, Primaris REIT's adjusted earnings per share data for the three months ended in Mar. 2026 was:
Add all the adjusted EPS together and divide 10 will get our E10.
Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.
Primaris REIT (PMREF) has a Shiller PE Ratio of 9.22 as of Jul. 22, 2026. Shiller price-earnings ratio is the ratio of share price to a company's inflation-adjusted earnings over a 10-year period. View historical data on Primaris REIT and its competitors. This is 38% above median its historical median of 6.68. Over the past decade, Primaris REIT's Shiller PE Ratio has ranged from 5.88 to 9.13. According to the industry distribution chart, Primaris REIT ranks #136 out of 483 companies in the REITs industry, placing it in the top 28.2%.
Is Primaris REIT's Shiller PE Ratio too high?
Primaris REIT's current Shiller PE Ratio of 9.22 is 38% above median its 10-year median of 6.68. Over the past 10 years, this metric has ranged from a low of 5.88 to a high of 9.13. The REITs industry median Shiller PE Ratio is 13.64. Primaris REIT's value of 9.22 is 32.4% below this industry median. Based on the distribution chart, Primaris REIT ranks #136 out of 483 companies in the REITs industry, which is above the industry midpoint. Overall, Primaris REIT has a GF Score™ of 81/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Primaris REIT's Shiller PE Ratio compare to SPG and O?
According to the REITs industry distribution chart, Primaris REIT ranks #136 out of 483 companies for Shiller PE Ratio. This puts Primaris REIT in the upper half of its industry. The industry median Shiller PE Ratio is 13.64. Primaris REIT's value of 9.22 is 32.4% below this benchmark. Historically, Primaris REIT's own Shiller PE Ratio has ranged from 5.88 to 9.13 over the past decade. While the company's 10-year median is 6.68 vs. the industry median of 13.64, Primaris REIT has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Shiller PE Ratio for a REITs company?
The median Shiller PE Ratio among REITs companies is 13.64, based on 483 companies in the industry. Companies in the top quartile (top 25%) have a Shiller PE Ratio significantly above this median, while those in the bottom quartile fall well below. However, Shiller PE Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Primaris REIT's current Shiller PE Ratio of 9.22 is 32.4% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Shiller PE Ratio mean?
A high Shiller PE Ratio can signal that a stock is expensive relative to its fundamentals. Shiller price-earnings ratio is the ratio of share price to a company's inflation-adjusted earnings over a 10-year period. View historical data on Primaris REIT and its competitors. For the REITs industry, the median Shiller PE Ratio is 13.64 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Primaris REIT's current Shiller PE Ratio is 9.22, which is 38% above median its own 10-year median of 6.68. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Primaris REIT stock overvalued right now?
Based on GuruFocus' analysis, Primaris REIT (PMREF) is currently considered Modestly Overvalued. The stock's GF Value™ is $13.13, compared to a current price of $16.50 — trading 25.7% above its estimated fair value. The current Shiller PE Ratio is 9.22, which is 38% above median its 10-year median of 6.68 and 32.4% below the REITs industry median of 13.64. Primaris REIT's overall GF Score™ is 81/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Shiller PE Ratio calculated?
Shiller PE Ratio is calculated from a company's financial statements. For Primaris REIT (PMREF), the current Shiller PE Ratio is 9.22 as of Jul. 22, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Primaris REIT (PMREF) Overvalued in 2026?
Based on GuruFocus' analysis, Primaris REIT stock appears to be overvalued.
The current stock price of $16.50 is trading 25.7% above its estimated GF Value™ of $13.13.
GuruFocus considers Primaris REIT to be Modestly Overvalued.
Key valuation signals for PMREF:
Shiller PE Ratio: 9.22 (38% above median its 10-year median of 6.68)
GF Value™: $13.13 vs. price of $16.50 (25.7% above fair value)
Industry Position: 32.4% below the REITs median (#136 of 483)
No single metric tells the full story. See the PMREF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Primaris REIT is an unincorporated, open-ended real estate investment trust. Through its subsidiaries, it owns, develops, and operates a national retail portfolio focused on enclosed shopping centres located in secondary Canadian markets. Its property portfolio includes: Dufferin Mall, Cataraqui Centre, Stone Road Mall, Orchard Park, Kildonan Place, Halifax Shopping Centre, Marlborough Mall, and Devonshire Mall. The company generates a majority of its revenue from the Rent receivables.
81GF Score
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