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Japanese (NIKKEI) REITS Industry Analysis

UpdatedFeb 18, 2025
DataAggregated Company Financials
Companies21
  • 7D1.5%
  • 3M4.7%
  • 1Y-1.1%
  • YTD2.4%

The REITS industry has gained 1.5% in the last week and Hankyu Hanshin REIT up 10%. Overall in the last year, the industry is flat. Looking forward, earnings are forecast to decline by 3.3% per year.

Industry Valuation and Performance

Has the Japanese REITS Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 18 Feb 2025JP¥4.6tJP¥549.8bJP¥244.1b19x18.7x8.3x
Thu, 16 Jan 2025JP¥4.4tJP¥547.9bJP¥244.2b18.6x18x8x
Sat, 14 Dec 2024JP¥4.3tJP¥518.9bJP¥228.9b17.7x18.7x8.3x
Mon, 11 Nov 2024JP¥4.4tJP¥517.4bJP¥229.0b17.9x19x8.4x
Wed, 09 Oct 2024JP¥4.3tJP¥500.2bJP¥224.4b18.9x19.3x8.7x
Fri, 06 Sep 2024JP¥4.4tJP¥499.9bJP¥225.2b18.6x19.7x8.9x
Sun, 04 Aug 2024JP¥4.4tJP¥498.8bJP¥224.2b19.1x19.7x8.9x
Tue, 02 Jul 2024JP¥4.5tJP¥498.7bJP¥224.0b19.7x20.1x9x
Thu, 30 May 2024JP¥4.6tJP¥471.3bJP¥201.3b20.5x22.9x9.8x
Sat, 27 Apr 2024JP¥4.7tJP¥470.7bJP¥201.1b21x23.6x10.1x
Mon, 25 Mar 2024JP¥4.8tJP¥472.2bJP¥201.3b20.8x23.7x10.1x
Wed, 21 Feb 2024JP¥4.5tJP¥467.8bJP¥202.7b20x22.3x9.7x
Fri, 19 Jan 2024JP¥4.8tJP¥468.6bJP¥203.0b20.2x23.9x10.3x
Sun, 17 Dec 2023JP¥4.8tJP¥471.4bJP¥200.1b20.8x24.2x10.3x
Tue, 14 Nov 2023JP¥4.2tJP¥427.2bJP¥179.3b21.5x23.7x9.9x
Thu, 12 Oct 2023JP¥4.3tJP¥422.4bJP¥178.6b21.9x24.2x10.2x
Sat, 09 Sep 2023JP¥4.4tJP¥420.8bJP¥179.4b22.7x24.5x10.4x
Mon, 07 Aug 2023JP¥4.3tJP¥419.1bJP¥178.4b21.8x24.1x10.3x
Wed, 05 Jul 2023JP¥4.3tJP¥412.7bJP¥175.4b22.4x24.3x10.3x
Fri, 02 Jun 2023JP¥4.3tJP¥411.7bJP¥176.9b22.2x24.1x10.4x
Sun, 30 Apr 2023JP¥4.0tJP¥399.5bJP¥167.9b21.2x23.6x9.9x
Tue, 28 Mar 2023JP¥3.7tJP¥396.6bJP¥167.6b19.6x22.2x9.4x
Thu, 23 Feb 2023JP¥15.3tJP¥1.4tJP¥606.4b23.6x25.3x10.8x
Sat, 21 Jan 2023JP¥15.1tJP¥1.4tJP¥606.3b23.4x24.9x10.6x
Mon, 19 Dec 2022JP¥16.5tJP¥1.4tJP¥606.4b25.6x27.3x11.6x
Wed, 16 Nov 2022JP¥16.2tJP¥1.4tJP¥609.1b23.9x26.5x11.4x
Fri, 14 Oct 2022JP¥15.8tJP¥1.4tJP¥601.2b24.5x26.3x11.2x
Sun, 11 Sep 2022JP¥16.8tJP¥1.4tJP¥591.8b26.1x28.4x12x
Tue, 09 Aug 2022JP¥16.7tJP¥1.4tJP¥581.4b26.4x28.8x12x
Thu, 07 Jul 2022JP¥16.1tJP¥1.4tJP¥574.1b25.7x28.1x11.8x
Sat, 04 Jun 2022JP¥16.6tJP¥1.4tJP¥572.9b26.4x29x12.1x
Mon, 02 May 2022JP¥16.4tJP¥1.4tJP¥567.2b25.6x28.8x12.1x
Wed, 30 Mar 2022JP¥16.7tJP¥1.4tJP¥571.6b26.2x29.3x12.3x
Fri, 25 Feb 2022JP¥15.6tJP¥1.4tJP¥588.5b24x26.5x11.3x
Price to Earnings Ratio

26.5x


Total Market Cap: JP¥15.6tTotal Earnings: JP¥588.5bTotal Revenue: JP¥1.4tTotal Market Cap vs Earnings and Revenue0%0%0%
Japanese REITS Industry Price to Earnings3Y Average 24x202320242025
Current Industry PE
  • Investors are pessimistic on the Japanese REITs industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 18.7x which is lower than its 3-year average PE of 24.0x.
  • The 3-year average PS ratio of 10.3x is higher than the industry's current PS ratio of 8.3x.
Past Earnings Growth
  • The earnings for companies in the REITs industry have declined 25% per year over the last three years,
  • Revenues have also declined 26% per year.
  • This means overall sales from these companies are declining and profits are subsequently falling as well.

Industry Trends

Which industries have driven the changes within the Japanese Real Estate industry?

JP Market1.09%
Real Estate1.00%
REITS1.50%
Healthcare REITs3.07%
Office REITs1.80%
Residential REITs1.52%
Diversified REITs1.50%
Industrial REITs1.38%
Hotel and Resort REITs1.27%
Retail REITs0.50%
Specialized REITs0%0
Industry PE
  • Investors are most optimistic about the Residential REITs industry even though it's trading below its 3-year average PE ratio of 28.1x.
    • Analysts are expecting annual earnings growth of 0.6%, which is lower than the prior year's growth of 3.0% per year.
  • Investors are most pessimistic about the Healthcare REITs industry, which is trading below its 3-year average of 25.2x.
Forecasted Growth
  • Analysts are most optimistic on the Hotel and Resort REITs industry, expecting annual earnings growth of 10% over the next 5 years.
  • However this is lower than its past earnings growth rate of 37% per year.
  • In contrast, the Office REITs industry is expected to see its earnings decline by 3.9% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
8977 Hankyu Hanshin REITJP¥144.90k10.9%
+JP¥9.9b
5.2%PB1.2x
8984 Daiwa House REIT InvestmentJP¥241.70k1.6%
+JP¥8.5b
0.3%PB1.1x
8957 Tokyu REITJP¥167.80k3.9%
+JP¥6.2b
3.3%PB1.3x
8972 KDX Realty InvestmentJP¥150.80k1.0%
+JP¥6.1b
2.9%PB1x
3462 Nomura Real Estate Master FundJP¥144.30k0.9%
+JP¥6.0b
-3.4%PB1.1x
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Latest News

8984

JP¥241,700.00

Daiwa House REIT Investment

7D

1.6%

1Y

0.3%

8972

JP¥150,800.00

KDX Realty Investment

7D

1.0%

1Y

2.9%

3309

JP¥76,700.00

Sekisui House Reit

7D

-0.3%

1Y

3.9%

3462

JP¥144,300.00

Nomura Real Estate Master Fund

7D

0.9%

1Y

-3.4%

8977

JP¥144,900.00

Hankyu Hanshin REIT

7D

10.9%

1Y

5.2%

3468

JP¥52,600.00

Star Asia Investment

7D

2.9%

1Y

-6.7%

8957

JP¥167,800.00

Tokyu REIT

7D

3.9%

1Y

3.3%

3279

JP¥339,000.00

Activia Properties

7D

1.6%

1Y

-12.5%

3295

JP¥143,700.00

Hulic Reit

7D

2.8%

1Y

-4.8%