Japanese (NIKKEI) REITS Industry Analysis
UpdatedDec 05, 2023
DataAggregated Company Financials
Companies21
- 7D-1.3%
- 3M-4.2%
- 1Y-4.9%
- YTD-1.6%
In the last week, the REITS industry is down 1.8% with Nomura Real Estate Master Fund down the most at 2.2%. However, the industry is down 4.7% over the past year. As for the next few years, earnings are forecast to decline by 1.6% per annum.
Industry Valuation and Performance
Has the Japanese REITS Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Wed, 06 Dec 2023 | JP¥4.9t | JP¥460.8b | JP¥193.0b | 21.7x | 25.4x | 10.6x |
| Fri, 03 Nov 2023 | JP¥4.3t | JP¥427.9b | JP¥182.4b | 21.7x | 23.6x | 10x |
| Sun, 01 Oct 2023 | JP¥4.3t | JP¥420.8b | JP¥179.4b | 22.3x | 24x | 10.3x |
| Tue, 29 Aug 2023 | JP¥4.4t | JP¥419.4b | JP¥178.4b | 22.8x | 24.6x | 10.5x |
| Thu, 27 Jul 2023 | JP¥4.3t | JP¥419.2b | JP¥178.4b | 22.2x | 24.3x | 10.4x |
| Sat, 24 Jun 2023 | JP¥4.2t | JP¥412.7b | JP¥175.4b | 21.4x | 23.9x | 10.2x |
| Mon, 22 May 2023 | JP¥4.3t | JP¥411.7b | JP¥176.9b | 21.7x | 24.2x | 10.4x |
| Wed, 19 Apr 2023 | JP¥3.9t | JP¥396.4b | JP¥166.9b | 20.9x | 23.3x | 9.8x |
| Fri, 17 Mar 2023 | JP¥15.0t | JP¥1.4t | JP¥607.6b | 23x | 24.7x | 10.5x |
| Sun, 12 Feb 2023 | JP¥15.3t | JP¥1.4t | JP¥608.7b | 23.6x | 25.1x | 10.7x |
| Tue, 10 Jan 2023 | JP¥15.4t | JP¥1.4t | JP¥605.7b | 23.9x | 25.5x | 10.9x |
| Thu, 08 Dec 2022 | JP¥16.2t | JP¥1.4t | JP¥614.5b | 24.4x | 26.3x | 11.4x |
| Sat, 05 Nov 2022 | JP¥16.2t | JP¥1.4t | JP¥606.8b | 24.4x | 26.7x | 11.4x |
| Mon, 03 Oct 2022 | JP¥16.1t | JP¥1.4t | JP¥594.4b | 24.9x | 27.1x | 11.4x |
| Wed, 31 Aug 2022 | JP¥16.9t | JP¥1.4t | JP¥590.9b | 26.8x | 28.7x | 12.2x |
| Fri, 29 Jul 2022 | JP¥16.6t | JP¥1.4t | JP¥574.8b | 26.3x | 28.8x | 12x |
| Sun, 26 Jun 2022 | JP¥15.8t | JP¥1.4t | JP¥574.1b | 25.5x | 27.6x | 11.5x |
| Tue, 24 May 2022 | JP¥16.5t | JP¥1.4t | JP¥569.3b | 26.1x | 28.9x | 12.1x |
| Thu, 21 Apr 2022 | JP¥16.3t | JP¥1.4t | JP¥567.5b | 25.6x | 28.8x | 12x |
| Sat, 19 Mar 2022 | JP¥16.1t | JP¥1.4t | JP¥576.2b | 24.9x | 28x | 11.7x |
| Mon, 14 Feb 2022 | JP¥16.1t | JP¥1.4t | JP¥583.5b | 24.5x | 27.6x | 11.8x |
| Wed, 12 Jan 2022 | JP¥16.7t | JP¥1.4t | JP¥586.6b | 25.2x | 28.5x | 12.2x |
| Fri, 10 Dec 2021 | JP¥17.1t | JP¥1.4t | JP¥586.6b | 26.1x | 29.1x | 12.5x |
| Sun, 07 Nov 2021 | JP¥17.3t | JP¥1.3t | JP¥579.1b | 27x | 29.9x | 12.9x |
| Tue, 05 Oct 2021 | JP¥16.8t | JP¥1.3t | JP¥565.3b | 25.7x | 29.7x | 12.8x |
| Thu, 02 Sep 2021 | JP¥17.7t | JP¥1.3t | JP¥573.0b | 26.4x | 30.8x | 13.4x |
| Sat, 31 Jul 2021 | JP¥17.6t | JP¥1.3t | JP¥573.0b | 26.6x | 30.8x | 13.4x |
| Tue, 04 May 2021 | JP¥16.8t | JP¥1.3t | JP¥572.1b | 26.2x | 29.3x | 12.7x |
| Fri, 05 Feb 2021 | JP¥14.7t | JP¥1.3t | JP¥567.6b | 22.4x | 26x | 11.3x |
Price to Earnings Ratio
25.4x
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 27.0x.
- The industry is trading close to its 3-year average PS ratio of 11.5x.
Past Earnings Growth
- The earnings for companies in the REITs industry have declined 30% per year over the last three years,
- Revenues have also declined 29% 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 Market | -1.35% | |
| Real Estate | -0.03% | |
| REITS | -1.27% | |
| Office REITs | 0.16% | |
| Specialized REITs | 0% | |
| Healthcare REITs | -0.35% | |
| Retail REITs | -0.42% | |
| Residential REITs | -0.49% | |
| Diversified REITs | -1.31% | |
| Hotel and Resort REITs | -1.41% | |
| Industrial REITs | -1.89% | |
Industry PE
- Investors are most optimistic about the Hotel and Resort REITs industry even though it's trading below its 3-year average PE ratio of 133x.
- Analysts are expecting annual earnings growth of 14.7%, which is lower than the prior year's growth of 67.7% per year.
- Investors are most pessimistic about the Retail REITs industry, which is trading below its 3-year average of 23.7x.
Forecasted Growth
- Analysts are most optimistic on the Hotel and Resort REITs industry, expecting annual earnings growth of 15% over the next 5 years.
- However this is lower than its past earnings growth rate of 68% per year.
- In contrast, the Office REITs industry is expected to see its earnings decline by 4.0% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| 3309 Sekisui House Reit | JP¥79.60k | 0.6% +JP¥2.2b | 0.5% | PB1.2x | |
| 3468 Star Asia Investment | JP¥58.00k | 1.6% +JP¥2.1b | 4.7% | PB1.3x | |
| 8984 Daiwa House REIT Investment | JP¥265.80k | 0.2% +JP¥1.2b | -12.0% | PB1.2x | |
| 8956 NTT UD REIT Investment | JP¥128.20k | 0.2% +JP¥930.6m | -11.6% | PB1.4x |