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Japanese (NIKKEI) REITS Industry Analysis

UpdatedJun 03, 2024
DataAggregated Company Financials
Companies20
  • 7D-1.3%
  • 3M1.1%
  • 1Y-7.2%
  • YTD-3.3%

Over the last 7 days, the REITS industry has dropped 1.3%, driven by a pullback from United Urban Investment of 5.1%. Overall the industry is down 7.2% in 12 months. 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
Mon, 03 Jun 2024JP¥4.6tJP¥470.0bJP¥201.3b20x22.7x9.7x
Wed, 01 May 2024JP¥4.8tJP¥470.7bJP¥201.1b21x23.7x10.1x
Fri, 29 Mar 2024JP¥4.8tJP¥472.2bJP¥201.3b20.8x23.8x10.1x
Sun, 25 Feb 2024JP¥4.5tJP¥467.8bJP¥202.7b19.8x22.3x9.7x
Tue, 23 Jan 2024JP¥5.0tJP¥471.2bJP¥204.7b20.6x24.3x10.5x
Thu, 21 Dec 2023JP¥4.8tJP¥471.4bJP¥200.1b21x24x10.2x
Sat, 18 Nov 2023JP¥4.3tJP¥427.2bJP¥179.3b21.7x24x10.1x
Mon, 16 Oct 2023JP¥4.3tJP¥422.3bJP¥178.6b21.7x24.1x10.2x
Wed, 13 Sep 2023JP¥4.4tJP¥420.8bJP¥179.4b22.7x24.4x10.4x
Fri, 11 Aug 2023JP¥4.4tJP¥419.1bJP¥178.4b22.2x24.4x10.4x
Sun, 09 Jul 2023JP¥4.2tJP¥412.7bJP¥175.4b22.3x24.1x10.3x
Tue, 06 Jun 2023JP¥4.3tJP¥414.4bJP¥176.7b22.2x24.3x10.4x
Thu, 04 May 2023JP¥4.0tJP¥399.5bJP¥167.9b21.2x23.6x9.9x
Sat, 01 Apr 2023JP¥3.8tJP¥396.6bJP¥167.6b19.9x22.6x9.5x
Mon, 27 Feb 2023JP¥15.5tJP¥1.4tJP¥606.8b24x25.5x10.9x
Wed, 25 Jan 2023JP¥15.5tJP¥1.4tJP¥608.1b24x25.4x10.8x
Fri, 23 Dec 2022JP¥15.9tJP¥1.4tJP¥606.2b24.4x26.2x11.2x
Sun, 20 Nov 2022JP¥16.3tJP¥1.4tJP¥609.9b24.7x26.7x11.5x
Tue, 18 Oct 2022JP¥15.8tJP¥1.4tJP¥604.6b24.5x26.1x11.2x
Thu, 15 Sep 2022JP¥16.7tJP¥1.4tJP¥591.8b26x28.2x11.9x
Sat, 13 Aug 2022JP¥16.7tJP¥1.4tJP¥581.4b26.5x28.7x12x
Mon, 11 Jul 2022JP¥16.1tJP¥1.4tJP¥574.1b25.4x28.1x11.7x
Wed, 08 Jun 2022JP¥16.7tJP¥1.4tJP¥572.9b26.6x29.1x12.2x
Fri, 06 May 2022JP¥16.5tJP¥1.4tJP¥567.2b26.2x29x12.1x
Sun, 03 Apr 2022JP¥16.7tJP¥1.4tJP¥571.2b26.1x29.3x12.3x
Tue, 01 Mar 2022JP¥15.7tJP¥1.4tJP¥589.1b24.1x26.6x11.3x
Thu, 27 Jan 2022JP¥15.9tJP¥1.4tJP¥581.0b24.1x27.3x11.6x
Sat, 25 Dec 2021JP¥17.0tJP¥1.4tJP¥586.5b25.5x28.9x12.4x
Mon, 22 Nov 2021JP¥17.0tJP¥1.3tJP¥579.3b26.5x29.3x12.6x
Wed, 20 Oct 2021JP¥17.4tJP¥1.3tJP¥579.7b26.3x30x12.9x
Fri, 17 Sep 2021JP¥17.2tJP¥1.3tJP¥552.8b26.3x31x13.3x
Sun, 15 Aug 2021JP¥17.5tJP¥1.3tJP¥573.0b26x30.5x13.2x
Thu, 10 Jun 2021JP¥16.9tJP¥1.3tJP¥575.2b26.1x29.3x12.7x
Price to Earnings Ratio

29.3x


Total Market Cap: JP¥16.9tTotal Earnings: JP¥575.2bTotal Revenue: JP¥1.3tTotal Market Cap vs Earnings and Revenue0%0%0%
Japanese REITS Industry Price to Earnings3Y Average 26.3x202220232024
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 22.7x which is lower than its 3-year average PE of 26.3x.
  • The 3-year average PS ratio of 11.2x is higher than the industry's current PS ratio of 9.7x.
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 Market0.95%
Real Estate0.59%
REITS-1.33%
Office REITs0.36%
Specialized REITs0%
Industrial REITs-0.32%
Retail REITs-0.49%
Diversified REITs-1.33%
Healthcare REITs-1.76%
Hotel and Resort REITs-3.30%
Residential REITs-3.90%
Industry PE
  • Investors are most optimistic about the Residential REITs industry, which is trading close to its 3-year average PE ratio of 29.1x.
    • Analysts are expecting annual earnings growth of 0.08%, which is lower than the prior year's growth of 6.2% per year.
  • Investors are most pessimistic about the Retail REITs industry, which is trading below its 3-year average of 23.1x.
Forecasted Growth
  • Analysts are most optimistic on the Hotel and Resort REITs industry, expecting annual earnings growth of 8.2% over the next 5 years.
  • However this is lower than its past earnings growth rate of 82% per year.
  • In contrast, the Office REITs industry is expected to see its earnings decline by 2.1% 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¥147.70k2.7%
+JP¥18.4b		-10.5%PB1.1x
3309 Sekisui House ReitJP¥81.90k1.6%
+JP¥5.7b		1.0%PB1.2x
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3462

JP¥147,700.00

Nomura Real Estate Master Fund

7D

2.7%

1Y

-10.5%

3309

JP¥81,900.00

Sekisui House Reit

7D

1.6%

1Y

1.0%

8984

JP¥248,800.00

Daiwa House REIT Investment

7D

-2.0%

1Y

-15.5%

3295

JP¥144,400.00

Hulic Reit

7D

-2.1%

1Y

-9.5%

8977

JP¥132,800.00

Hankyu Hanshin REIT

7D

-3.3%

1Y

-8.5%

3279

JP¥369,000.00

Activia Properties

7D

-4.0%

1Y

-9.2%

8960

JP¥139,900.00

United Urban Investment

7D

-5.1%

1Y

-7.0%

8966

JP¥130,600.00

Heiwa Real Estate REIT

7D

-3.9%

1Y

-16.0%

3468

JP¥59,000.00

Star Asia Investment

7D

-3.6%

1Y

1.4%

8956

JP¥117,200.00

NTT UD REIT Investment

7D

-2.3%

1Y

-10.5%