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3234

Mori Hills REIT Investment TSE:3234 Stock Report

Last Price

JP¥152.00k

Market Cap

JP¥286.3b

7D

2.6%

1Y

-9.9%

Updated

28 Jun, 2022

Data

Company Financials
3234 fundamental analysis
Snowflake Score
Valuation1/6
Future Growth0/6
Past Performance2/6
Financial Health1/6
Dividends6/6

3234 Stock Overview

MHR aims to further enhance the profitability and asset value of its portfolio through growth created by making targeted investment in the “City,” while paying close attention to the competitiveness of the “City” concentrating on central Tokyo, and on the portfolio’s ability to create value.

Mori Hills REIT Investment Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Mori Hills REIT Investment
Historical stock prices
Current Share PriceJP¥152,000.00
52 Week HighJP¥169,700.00
52 Week LowJP¥133,500.00
Beta0.49
1 Month Change1.13%
3 Month Change2.50%
1 Year Change-9.90%
3 Year Change-1.55%
5 Year Change10.23%
Change since IPO-13.64%

Recent News & Updates

Shareholder Returns

3234JP REITsJP Market
7D2.6%1.0%1.8%
1Y-9.9%-10.3%-4.7%

Return vs Industry: 3234 matched the JP REITs industry which returned -10.3% over the past year.

Return vs Market: 3234 underperformed the JP Market which returned -4.7% over the past year.

Price Volatility

Is 3234's price volatile compared to industry and market?
3234 volatility
3234 Average Weekly Movement2.1%
REITs Industry Average Movement2.4%
Market Average Movement4.2%
10% most volatile stocks in JP Market8.5%
10% least volatile stocks in JP Market2.3%

Stable Share Price: 3234 is less volatile than 75% of JP stocks over the past 3 months, typically moving +/- 2% a week.

Volatility Over Time: 3234's weekly volatility (2%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
2006n/an/ahttps://www.mori-hills-reit.co.jp

MHR aims to further enhance the profitability and asset value of its portfolio through growth created by making targeted investment in the “City,” while paying close attention to the competitiveness of the “City” concentrating on central Tokyo, and on the portfolio’s ability to create value. “City” in MHR’s definition is not merely a geographic location with an aggregation of buildings, but a ”space” with multiple uses, such as for work, residence, recreation, rest and study that integrates various economic and cultural activities of the people that gather there. MHR believes that the provision of all urban elements will result in people, products and information concentrating and merging to generate new business models and lifestyles.

Mori Hills REIT Investment Fundamentals Summary

How do Mori Hills REIT Investment's earnings and revenue compare to its market cap?
3234 fundamental statistics
Market CapJP¥286.30b
Earnings (TTM)JP¥11.10b
Revenue (TTM)JP¥19.62b

26.2x

P/E Ratio

14.8x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
3234 income statement (TTM)
RevenueJP¥19.62b
Cost of RevenueJP¥7.23b
Gross ProfitJP¥12.38b
Other ExpensesJP¥1.29b
EarningsJP¥11.10b

Last Reported Earnings

Jan 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)5.79k
Gross Margin63.12%
Net Profit Margin56.57%
Debt/Equity Ratio95.5%

How did 3234 perform over the long term?

See historical performance and comparison

Dividends

4.0%

Current Dividend Yield

82%

Payout Ratio

Does 3234 pay a reliable dividends?

See 3234 dividend history and benchmarks
When do you need to buy 3234 by to receive an upcoming dividend?
Mori Hills REIT Investment dividend dates
Ex Dividend DateJul 28 2022
Dividend Pay DateOct 17 2022
Days until Ex dividend29 days
Days until Dividend pay date110 days

Does 3234 pay a reliable dividends?

See 3234 dividend history and benchmarks
We’ve recently updated our valuation analysis.

Valuation

Is 3234 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • PEG Ratio

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 3234?

Other financial metrics that can be useful for relative valuation.

3234 key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue24.1x
Enterprise Value/EBITDA32.8x
PEG Ration/a

Price to Earnings Ratio vs Peers

How does 3234's PE Ratio compare to its peers?

3234 PE Ratio vs Peers
The above table shows the PE ratio for 3234 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average22.6x
8972 Kenedix Office Investment
23.4xn/aJP¥286.2b
8976 Daiwa Office Investment
23.3xn/aJP¥329.1b
8955 Japan Prime Realty Investment
25.4xn/aJP¥400.9b
8961 MORI TRUST Sogo Reit
19.4xn/aJP¥183.7b
3234 Mori Hills REIT Investment
26.2xn/aJP¥286.3b

Price-To-Earnings vs Peers: 3234 is expensive based on its Price-To-Earnings Ratio (26.2x) compared to the peer average (22.6x).


Price to Earnings Ratio vs Industry

How does 3234's PE Ratio compare vs other companies in the JP REITs Industry?

Price-To-Earnings vs Industry: 3234 is expensive based on its Price-To-Earnings Ratio (26.2x) compared to the JP REITs industry average (25.5x)


Price to Earnings Ratio vs Fair Ratio

What is 3234's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

3234 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio26.2x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate 3234's Price-To-Earnings Fair Ratio for valuation analysis.


Share Price vs Fair Value

What is the Fair Price of 3234 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 3234 (¥152000) is trading below our estimate of fair value (¥175246.12)

Significantly Below Fair Value: 3234 is trading below fair value, but not by a significant amount.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate 3234's PEG Ratio to determine if it is good value.


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Future Growth

How is Mori Hills REIT Investment forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

Future Growth Score

0/6

Future Growth Score 0/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


3.6%

Forecasted Real Estate industry annual growth in earnings

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Mori Hills REIT Investment has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


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Past Performance

How has Mori Hills REIT Investment performed over the past 5 years?

Past Performance Score

2/6

Past Performance Score 2/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


4.6%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: 3234 has high quality earnings.

Growing Profit Margin: 3234's current net profit margins (56.6%) are lower than last year (56.7%).


Past Earnings Growth Analysis

Earnings Trend: 3234's earnings have grown by 4.6% per year over the past 5 years.

Accelerating Growth: 3234's earnings growth over the past year (0.8%) is below its 5-year average (4.6% per year).

Earnings vs Industry: 3234 earnings growth over the past year (0.8%) underperformed the REITs industry 5.1%.


Return on Equity

High ROE: 3234's Return on Equity (5.5%) is considered low.


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Financial Health

How is Mori Hills REIT Investment's financial position?

Financial Health Score

1/6

Financial Health Score 1/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: 3234's short term assets (¥12.7B) do not cover its short term liabilities (¥17.5B).

Long Term Liabilities: 3234's short term assets (¥12.7B) do not cover its long term liabilities (¥192.1B).


Debt to Equity History and Analysis

Debt Level: 3234's net debt to equity ratio (92.1%) is considered high.

Reducing Debt: 3234's debt to equity ratio has increased from 87.2% to 95.5% over the past 5 years.

Debt Coverage: 3234's debt is not well covered by operating cash flow (7.1%).

Interest Coverage: 3234's interest payments on its debt are well covered by EBIT (14.3x coverage).


Balance Sheet


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Dividend

What is Mori Hills REIT Investment current dividend yield, its reliability and sustainability?

Dividend Score

5/6

Dividend Score 5/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage


3.99%

Current Dividend Yield

Upcoming Dividend Payment

TodayJun 28 2022Ex Dividend DateJul 28 2022Dividend Pay DateOct 17 202281 days from Ex DividendBuy in the next 29 days to receive the upcoming dividend

Dividend Yield vs Market

Notable Dividend: 3234's dividend (3.99%) is higher than the bottom 25% of dividend payers in the JP market (1.67%).

High Dividend: 3234's dividend (3.99%) is in the top 25% of dividend payers in the JP market (3.71%)


Stability and Growth of Payments

Stable Dividend: 3234's dividends per share have been stable in the past 10 years.

Growing Dividend: 3234's dividend payments have increased over the past 10 years.


Earnings Payout to Shareholders

Earnings Coverage: At its current payout ratio (82%), 3234's payments are covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: At its current cash payout ratio (85.5%), 3234's dividend payments are covered by cash flows.


Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

4.0yrs

Average board tenure


CEO

Mori Hills REIT Investment has no CEO, or we have no data on them.


Board Members

Experienced Board: 3234's board of directors are considered experienced (4 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Mori Hills REIT Investment Corporation's employee growth, exchange listings and data sources


Key Information

  • Name: Mori Hills REIT Investment Corporation
  • Ticker: 3234
  • Exchange: TSE
  • Founded: 2006
  • Industry: Office REITs
  • Sector: Real Estate
  • Implied Market Cap: JP¥286.300b
  • Shares outstanding: 1.92m
  • Website: https://www.mori-hills-reit.co.jp

Location

  • Mori Hills REIT Investment Corporation
  • 1-12-32 Akasaka
  • Minato-ku
  • Tokyo
  • 107-6011
  • Japan

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/06/28 00:00
End of Day Share Price2022/06/28 00:00
Earnings2022/01/31
Annual Earnings2022/01/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.