This research aimed to know the effectif of the dividend payout ratio, earning growth and debt to equity ratio on price earning ratio. Population in this research are the property and real estate companies listed in Indonesia stock exchange during 2013-2016 periods. Sampling method used t purposive sampling. Data analysis used multiple regression analysis. The results of this research show that the dividend payout ratio has a positive effect on price earning ratio. Earning growth has no positive effect on price earning ratio. Debt to equity ratio has no negative effect price earning ratio.