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Japanese (NIKKEI) REITS Industry Analysis

UpdatedJul 15, 2026
DataAggregated Company Financials
Companies19
  • 7D-0.3%
  • 3M-6.8%
  • 1Y0.5%
  • YTD-10.6%

Over the last 7 days, the REITS industry has dropped 1.3%, driven by United Urban Investment declining 1.5%. Over the last year, the industry has been flat overall. Looking forward, earnings are forecast to grow by 1.1% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 15 Jul 2026JP¥4.6tJP¥518.3bJP¥223.8b18.8x20.4x8.8x
Fri, 12 Jun 2026JP¥4.5tJP¥524.6bJP¥225.6b18.4x19.8x8.5x
Sun, 10 May 2026JP¥4.7tJP¥524.6bJP¥225.6b19.1x20.7x8.9x
Tue, 07 Apr 2026JP¥4.8tJP¥524.5bJP¥226.9b19.7x21.1x9.1x
Thu, 05 Mar 2026JP¥4.9tJP¥533.1bJP¥231.0b19.8x21x9.1x
Sat, 31 Jan 2026JP¥5.1tJP¥539.6bJP¥237.5b19.9x21.5x9.4x
Mon, 29 Dec 2025JP¥5.2tJP¥550.2bJP¥240.6b21x21.8x9.5x
Wed, 26 Nov 2025JP¥5.2tJP¥549.9bJP¥244.0b20.5x21.4x9.5x
Fri, 24 Oct 2025JP¥5.1tJP¥540.3bJP¥239.6b20.6x21.4x9.5x
Sun, 21 Sep 2025JP¥5.2tJP¥567.3bJP¥249.1b19.6x20.8x9.1x
Tue, 19 Aug 2025JP¥5.1tJP¥574.1bJP¥250.8b19.6x20.4x8.9x
Thu, 17 Jul 2025JP¥4.9tJP¥564.2bJP¥248.6b18.8x19.6x8.6x
Sat, 14 Jun 2025JP¥4.7tJP¥566.4bJP¥258.7b18.7x18.4x8.4x
Mon, 12 May 2025JP¥4.6tJP¥561.7bJP¥256.0b18x18.1x8.2x
Wed, 09 Apr 2025JP¥4.5tJP¥556.7bJP¥247.8b17.5x18x8x
Fri, 07 Mar 2025JP¥4.5tJP¥551.2bJP¥245.1b18.8x18.3x8.1x
Sun, 02 Feb 2025JP¥4.6tJP¥550.3bJP¥245.7b19.1x18.8x8.4x
Tue, 31 Dec 2024JP¥4.4tJP¥547.9bJP¥244.2b18.1x18x8x
Thu, 28 Nov 2024JP¥4.4tJP¥514.3bJP¥229.0b18.3x19.2x8.5x
Sat, 26 Oct 2024JP¥4.3tJP¥505.8bJP¥224.6b18.2x19.1x8.5x
Mon, 23 Sep 2024JP¥4.5tJP¥500.6bJP¥225.3b19.7x19.8x8.9x
Wed, 21 Aug 2024JP¥4.6tJP¥499.8bJP¥225.2b19.1x20.2x9.1x
Fri, 19 Jul 2024JP¥4.6tJP¥498.7bJP¥224.0b19.9x20.6x9.2x
Sun, 16 Jun 2024JP¥4.5tJP¥471.4bJP¥201.3b20.3x22.5x9.6x
Tue, 14 May 2024JP¥4.8tJP¥471.3bJP¥201.3b21.3x23.9x10.2x
Thu, 11 Apr 2024JP¥4.7tJP¥472.2bJP¥201.3b21.1x23.5x10x
Sat, 09 Mar 2024JP¥4.4tJP¥467.8bJP¥202.7b20.3x21.9x9.5x
Mon, 05 Feb 2024JP¥4.9tJP¥471.6bJP¥204.8b20.5x23.7x10.3x
Wed, 03 Jan 2024JP¥4.8tJP¥470.8bJP¥199.3b20.7x24.1x10.2x
Fri, 01 Dec 2023JP¥5.0tJP¥460.8bJP¥193.0b21.9x25.8x10.8x
Sun, 29 Oct 2023JP¥4.3tJP¥427.9bJP¥182.4b21.7x23.7x10.1x
Tue, 26 Sep 2023JP¥4.3tJP¥420.8bJP¥179.4b22.3x24x10.3x
Thu, 24 Aug 2023JP¥4.3tJP¥419.4bJP¥178.4b22.6x24.4x10.4x
Sat, 22 Jul 2023JP¥4.3tJP¥416.8bJP¥177.3b22.7x24.3x10.3x
Price to Earnings Ratio

24.3x


Total Market Cap: JP¥4.3tTotal Earnings: JP¥177.3bTotal Revenue: JP¥416.8bTotal Market Cap vs Earnings and Revenue0%0%0%
Japanese REITS Industry Price to Earnings3Y Average 21.1x202420252026
Current Industry PE
  • Investors are relatively neutral on the Japanese REITs industry at the moment, indicating that they anticipate long term growth rates to remain steady.
  • The industry is trading close to its 3-year average PE ratio of 21.1x.
  • The industry is trading close to its 3-year average PS ratio of 9.2x.
Past Earnings Growth
  • The earnings for companies in the REITs industry have grown 8.1% per year over the last three years.
  • Revenues for these companies have grown 7.5% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

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

JP Market-0.68%
Real Estate-0.76%
REITS-0.28%
Office REITs1.08%
Retail REITs0.75%
Healthcare REITs0.54%
Industrial REITs0.37%
Diversified REITs-0.28%
Hotel and Resort REITs-0.53%
Residential REITs-0.83%
Industry PE
  • Investors are most optimistic about the Industrial REITs industry, which is trading close to its 3-year average PE ratio of 26.1x.
    • Analysts are expecting annual earnings growth of 0.4%, which is lower than the prior year's growth of 8.9% per year.
  • Investors are most pessimistic about the Hotel and Resort REITs industry, which is trading below its 3-year average of 24.0x.
Forecasted Growth
  • Analysts are most optimistic on the Hotel and Resort REITs industry, expecting annual earnings growth of 2.8% over the next 5 years.
  • In contrast, the Retail REITs industry is expected to see its earnings decline by 2.9% 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
3462 Nomura Real Estate Master FundJP¥153.70k0.6%
+JP¥4.2b		0.8%PB1.2x
8961 MORI TRUST REITJP¥76.30k1.5%
+JP¥3.9b		7.6%PB1.2x
8984 Daiwa House REIT InvestmentJP¥122.60k0.5%
+JP¥2.7b		1.2%PB1.1x
3295 Hulic ReitJP¥158.20k0.6%
+JP¥1.4b		-1.7%PB1.1x
3492 MIRARTH Real Estate InvestmentJP¥84.10k1.2%
+JP¥1.0b		-8.9%PB0.9x

Latest News

3476
JP¥42,450.00
MIRAI
7D
1.2%
1Y
-5.5%
New Narrative • Jul 01

Improving NOI growth visibility on wider rent gap

FP4/26 results update Improving growth outlook overshadowed by mixed guidance – FP4/26 results showed strong operating fundamentals, particularly on the strength of the office market in core Japanese urban centres and the resiliency of the hotel segment. The near-term guidance for FP10/26 and FP4/27 is mixed with net operating income (NOI) and distribution per unit (DPU) outlook diverging, but the underlying operating fundamentals remain very positive.
8972
JP¥156,600.00
KDX Realty Investment
7D
-0.4%
1Y
-0.7%
8966
JP¥135,500.00
Heiwa Real Estate REIT
7D
-0.07%
1Y
-2.3%
3309
JP¥77,200.00
Sekisui House Reit
7D
0.3%
1Y
1.0%
Analysis Article • Jun 21

Sekisui House Reit (TSE:3309) Stock Looks Cheap on P E After Lower Distribution Guidance

Why Sekisui House Reit Is Back in Focus Sekisui House Reit (TSE:3309) has drawn renewed attention after its June 15 update, which combined full-year earnings, fresh guidance for the next two fiscal periods, and lower expected cash distributions per unit. See our latest analysis for Sekisui House Reit. At a share price of ¥76,200, Sekisui House Reit has seen its 30 day share price return fall 8.30% and its year to date share price return decline 14.96%, even though the 1 year total shareholder...
8984
JP¥122,600.00
Daiwa House REIT Investment
7D
0.5%
1Y
1.2%
Analysis Article • Jun 16

Daiwa House REIT Investment (TSE:8984) Stock Looks Fairly Priced After Dividend Cut

Dividend cut puts Daiwa House REIT Investment stock back in focus Daiwa House REIT Investment (TSE:8984) recently announced a reduced semi-annual dividend of ¥2,483 per share, drawing fresh attention from income focused investors who track payout changes closely in Japan’s REIT market. See our latest analysis for Daiwa House REIT Investment. The dividend cut comes as Daiwa House REIT Investment’s share price has been under pressure, with a 90 day share price return that declined 9.95% and a...
3492
JP¥84,100.00
MIRARTH Real Estate Investment
7D
1.2%
1Y
-8.9%
3295
JP¥158,200.00
Hulic Reit
7D
0.6%
1Y
-1.7%
3462
JP¥153,700.00
Nomura Real Estate Master Fund
7D
0.6%
1Y
0.8%
8961
JP¥76,300.00
MORI TRUST REIT
7D
1.5%
1Y
7.6%
8977
JP¥139,600.00
Hankyu Hanshin REIT
7D
0.6%
1Y
-13.3%
8960
JP¥163,700.00
United Urban Investment
7D
-0.1%
1Y
1.6%