3281 Stock Overview

A real estate investment corporation (“J-REIT”) specializing in logistics facilities, and it primarily invests in modern logistics facilities. More details

3281 fundamental analysis
Snowflake Score
Valuation	2/6
Future Growth	4/6
Past Performance	2/6
Financial Health	1/6
Dividends	3/6

Rewards

Trading at 7.5% below our estimate of its fair value

Earnings are forecast to grow 18.59% per year

Analysts in good agreement that stock price will rise by 24.2%

Risk Analysis

Debt is not well covered by operating cash flow

Dividend of 5% is not well covered by earnings or free cash flows

Large one-off items impacting financial results

Community vs My Fair Value

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GLP J-REIT Competitors

Price History & Performance

Summary of share price highs, lows and changes for GLP J-REIT
Historical stock prices
Current Share Price	JP¥127,100.00
52 Week High	JP¥138,000.00
52 Week Low	JP¥117,200.00
Beta	0.31
1 Month Change	0.24%
3 Month Change	-0.78%
1 Year Change	-2.61%
3 Year Change	-25.10%
5 Year Change	-8.63%
Change since IPO	99.84%

Recent updates

Shareholder Returns

	3281	JP Industrial REITs	JP Market
7D	1.4%	0.7%	2.3%
1Y	-2.6%	-6.3%	1.8%

Return vs Industry: 3281 exceeded the JP Industrial REITs industry which returned -6.3% over the past year.

Return vs Market: 3281 underperformed the JP Market which returned 1.8% over the past year.

Price Volatility

Is 3281's price volatile compared to industry and market?
3281 volatility
3281 Average Weekly Movement	2.6%
Industrial REITs Industry Average Movement	2.4%
Market Average Movement	5.5%
10% most volatile stocks in JP Market	9.3%
10% least volatile stocks in JP Market	3.0%

Stable Share Price: 3281 has not had significant price volatility in the past 3 months compared to the JP market.

Volatility Over Time: 3281's weekly volatility (3%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
2011	n/a	Yuma Kawatsuji	www.glpjreit.com

GLP J-REIT is a real estate investment corporation (“J-REIT”) specializing in logistics facilities, and it primarily invests in modern logistics facilities. GLP J-REIT was founded in accordance with the Act on Investment Trusts and Investment Corporations (hereinafter the “Investment Trust Act”) with GLP Japan Advisors Inc. (hereinafter the “Asset Manager”) as the founder. It has its units listed on the Real Estate Investment Trust Market of the Tokyo Stock Exchange since December 21, 2012 (securities code: 3281).

GLP J-REIT Fundamentals Summary

How do GLP J-REIT's earnings and revenue compare to its market cap?
3281 fundamental statistics
Market cap	JP¥609.79b
Earnings (TTM)	JP¥15.05b
Revenue (TTM)	JP¥25.81b

40.5x

P/E Ratio

23.6x

P/S Ratio

Is 3281 overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
3281 income statement (TTM)
Revenue	JP¥25.81b
Cost of Revenue	JP¥12.32b
Gross Profit	JP¥13.49b
Other Expenses	-JP¥1.56b
Earnings	JP¥15.05b

Last Reported Earnings

Feb 28, 2025

Next Earnings Date

Oct 14, 2025

Earnings per share (EPS)	3.14k
Gross Margin	52.26%
Net Profit Margin	58.29%
Debt/Equity Ratio	87.7%

How did 3281 perform over the long term?

See historical performance and comparison

Dividends

5.0%

Current Dividend Yield

4,455%

Payout Ratio

Does 3281 pay a reliable dividends?

See 3281 dividend history and benchmarks

When do you need to buy 3281 by to receive an upcoming dividend?
GLP J-REIT dividend dates
Ex Dividend Date	Aug 28 2025
Dividend Pay Date	Nov 18 2025
Days until Ex dividend	87 days
Days until Dividend pay date	169 days

Does 3281 pay a reliable dividends?

See 3281 dividend history and benchmarks

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2025/05/31 12:35
End of Day Share Price	2025/05/30 00:00
Earnings	2025/02/28
Annual Earnings	2025/02/28

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* Example for US securities, for non-US equivalent regulatory forms and sources are used.

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.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

GLP J-REIT is covered by 20 analysts. 4 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Junichi Tazawa	Barclays
Tomoyoshi Omuro	BofA Global Research
Takashi Hashimoto	Citigroup Inc

3281 Stock Overview

Rewards

Risk Analysis

GLP J-REIT Competitors

Nippon Prologis REIT

Mitsui Fudosan Logistics Park

Industrial & Infrastructure Fund Investment

Japan Logistics Fund

Price History & Performance

Recent News & Updates

Final dividend of JP¥3,583 announced

Full year 2025 earnings released: EPS: JP¥3,089 (vs JP¥5,170 in FY 2024)

GLP J-REIT Provides Earnings Guidance for Six Months Period Ending August 31, 2025; provides earnings guidance for the Year Ending February 28, 2026

GLP J-REIT to Report Second Half, 2025 Results on May 29, 2025

GLP J-REIT to Report Fiscal Year 2025 Results on Apr 14, 2025

Upcoming dividend of JP¥3,308 per share

Recent updates

Final dividend of JP¥3,583 announced

Full year 2025 earnings released: EPS: JP¥3,089 (vs JP¥5,170 in FY 2024)

GLP J-REIT Provides Earnings Guidance for Six Months Period Ending August 31, 2025; provides earnings guidance for the Year Ending February 28, 2026

GLP J-REIT to Report Second Half, 2025 Results on May 29, 2025

GLP J-REIT to Report Fiscal Year 2025 Results on Apr 14, 2025

Upcoming dividend of JP¥3,308 per share

Final dividend of JP¥3,308 announced

Now 20% overvalued

First half 2025 earnings released: EPS: JP¥2,859 (vs JP¥2,907 in 1H 2024)

First half 2025 earnings released: EPS: JP¥2,859 (vs JP¥2,907 in 1H 2024)

GLP J-REIT to Report First Half, 2025 Results on Nov 29, 2024

Upcoming dividend of JP¥3,115 per share

GLP J-REIT Revises Earnings Guidance for the Fiscal Periods Ending August 31, 2024 (From March 1, 2024 to August 31, 2024) and Ending February 28, 2025 (From September 1, 2024 to February 28, 2025)

Full year 2024 earnings released: EPS: JP¥5,489 (vs JP¥6,472 in FY 2023)

GLP J-REIT, Annual General Meeting, May 20, 2024

GLP J-REIT to Report Second Half, 2024 Results on May 30, 2024

Upcoming dividend of JP¥2,753 per share

GLP J-REIT (TSE:3281) announces an Equity Buyback for 27,600 shares, representing 0.56% for ¥4,000 million.

New minor risk - Earnings quality

First half 2024 earnings released: EPS: JP¥2,907 (vs JP¥3,665 in 1H 2023)

GLP J-REIT Announces Distribution for the Period Ended August 31, 2020, Payable on November 17, 2023

An unknown buyer acquired GLP Morioka from GLP J-REIT for ¥750 million

Upcoming dividend of JP¥3,199 per share at 3.4% yield

New minor risk - Earnings quality

Full year 2023 earnings released: EPS: JP¥5,644 (vs JP¥3,794 in FY 2022)

GLP J-REIT (TSE:3281) completed the acquisition of GLP Fukuoka Kasuya from SMFL MIRAI Partners Company, Limited.

GLP J-REIT (TSE:3281) agreed to acquire a 30% stake in GLP ALFALINK Sagamihara 4 from Aries G.K. for ¥19.4 billion.

Full year 2023 earnings released: EPS: JP¥6,472 (vs JP¥3,794 in FY 2022)

No independent directors

Upcoming dividend of JP¥3,063 per share at 3.7% yield

GLP J-REIT Revises Earnings Guidance for the Period Ending February 28, 2023

No independent directors

GLP J-REIT (TSE:3281) acquired GLP Joso, GLP Kitamoto, GLP Amagasaki III, GLP Yasu, GLP Suzukaon and 30% interest in GLP Zama from Reo GK and Suzuka Holdings GK.

GLP J-REIT (TSE:3281) agreed to acquire GLP Joso, GLP Kitamoto, GLP Amagasaki III, GLP Yasu, GLP Suzukaon and 30% interest in GLP Zama from Reo GK and Suzuka Holdings GK for ¥63 billion.

First half 2023 earnings released

Upcoming dividend of JP¥3,021 per share

Full year 2022 earnings released: EPS: JP¥3,794 (vs JP¥5,262 in FY 2021)

GLP J-REIT Announces Board Appointments

No independent directors

Full year 2022 earnings released: EPS: JP¥4,568 (vs JP¥5,262 in FY 2021)

GLP J-REIT Provides Earnings Guidance for the Period Ending August 31, 2022 and February 28, 2023

Glp J-Reit Declares Distribution for the Period Ended February 28, 2022, Payable on May 20, 2022

GLP J-REIT Revises Earnings Guidance for the Fiscal Periods Ending February 28, 2022 and August 31, 2022

Upcoming dividend of JP¥3,069 per share

GLP J-REIT to Report Fiscal Year 2022 Results on Apr 13, 2022

GLP J-REIT Revises Earnings Guidance for the Fiscal Periods Ending February 28, 2022 and Ending August 31, 2022

First half 2022 earnings released: EPS JP¥2,680 (vs JP¥2,495 in 1H 2021)

Upcoming dividend of JP¥3,035 per share

GLP J-REIT (TSE:3281) completed the acquisition of GLP Niiza, GLP Sayama Hidaka I, GLP Rokko IV and a 70% interest in GLP Zama from SNZ Properties GK and an undisclosed seller.

GLP J-REIT (TSE:3281) agreed to acquire GLP Niiza, GLP Sayama Hidaka I, GLP Rokko IV and a 70% interest in GLP Zama from SNZ Properties GK and an undisclosed seller for ¥49.3 billion.

SMFL Mirai Partners Co., Ltd. acquired Real Estate Beneficiary Trust in GLP Okegawa from GLP J-REIT (TSE:3281) for ¥3.6 billion.

Full year 2021 earnings released: EPS JP¥5,131 (vs JP¥4,823 in FY 2020)

GLP J-REIT Provides Earnings Forecast for the Fiscal Periods Ending August 31, 2021 and February 28, 2022

GLP J-REIT to Report Fiscal Year 2021 Results on Apr 14, 2021

New 90-day high: JP¥177,600

New 90-day high: JP¥172,000

New 90-day high: JP¥167,700

GLP J-REIT Revises Earnings Guidance for the Fiscal Periods Ending February 28, 2021 and Ending August 31, 2021

GLP J-REIT Revises Earnings Guidance For the Six Months Ending February 28, 2021

GLP J-REIT to Report Fiscal Year 2020 Results on Oct 13, 2020

GLP J-REIT (TSE:3281) completed the acquisition GLP Funabashi IV from Blue Logistics 5 GK.

GLP J-REIT (TSE:3281) agreed to acquire GLP Funabashi IV from Blue Logistics 5 GK for ¥7.7 billion.

Shareholder Returns