NTT UD REIT Investment Past Earnings Performance

Past criteria checks 4/6

NTT UD REIT Investment has been growing earnings at an average annual rate of 5.3%, while the REITs industry saw earnings growing at 4.5% annually. Revenues have been growing at an average rate of 6% per year. NTT UD REIT Investment's return on equity is 6.2%, and it has net margins of 39.1%.

Key information

5.3%

Earnings growth rate

3.1%

EPS growth rate

REITs Industry Growth	5.9%
Revenue growth rate	6.0%
Return on equity	6.2%
Net Margin	39.1%
Last Earnings Update	30 Apr 2024

Recent past performance updates

Recent updates

Revenue & Expenses Breakdown

How NTT UD REIT Investment makes and spends money. Based on latest reported earnings, on an LTM basis.

Earnings and Revenue History

TSE:8956 Revenue, expenses and earnings (JPY Millions)
Date	Revenue	Earnings	G+A Expenses
30 Apr 24	23,659	9,262	205
31 Jan 24	24,094	9,654	208
31 Oct 23	24,528	10,046	221
31 Jul 23	23,747	9,481	220
30 Apr 23	22,965	8,914	229
31 Jan 23	23,087	9,252	227
31 Oct 22	23,208	9,589	225
31 Jul 22	23,268	9,871	217
30 Apr 22	23,328	10,153	209
31 Jan 22	22,767	9,961	209
31 Oct 21	22,207	9,770	210
31 Jul 21	21,574	9,460	188
30 Apr 21	20,939	9,150	176
31 Jan 21	19,830	8,392	179
31 Oct 20	18,720	7,633	193
31 Jul 20	18,624	7,546	212
30 Apr 20	18,527	7,459	202
31 Jan 20	18,874	7,708	216
31 Oct 19	19,220	7,958	202
31 Jul 19	19,141	7,895	203
30 Apr 19	19,061	7,831	215
31 Jan 19	18,668	7,530	202
31 Oct 18	18,274	7,229	199
31 Jul 18	18,037	7,125	198
30 Apr 18	17,798	7,020	207
31 Jan 18	17,443	6,840	200
31 Oct 17	17,088	6,660	203
31 Jul 17	16,977	6,657	204
30 Apr 17	16,867	6,655	205
31 Jan 17	16,692	6,616	204
31 Oct 16	16,517	6,576	203
31 Jul 16	16,344	6,469	204
30 Apr 16	16,171	6,361	205
31 Jan 16	15,853	6,154	208
31 Oct 15	15,536	5,947	211
31 Jul 15	14,909	5,557	209
30 Apr 15	14,282	5,167	217
31 Jan 15	13,892	4,861	203
31 Oct 14	13,503	4,554	199
31 Jul 14	13,198	4,345	195
30 Apr 14	12,894	4,135	200
31 Jan 14	12,653	4,031	191

Quality Earnings: 8956 has high quality earnings.

Growing Profit Margin: 8956's current net profit margins (39.1%) are higher than last year (38.8%).

Free Cash Flow vs Earnings Analysis

Past Earnings Growth Analysis

Earnings Trend: 8956's earnings have grown by 5.3% per year over the past 5 years.

Accelerating Growth: 8956's earnings growth over the past year (3.9%) is below its 5-year average (5.3% per year).

Earnings vs Industry: 8956 earnings growth over the past year (3.9%) exceeded the REITs industry 3.1%.

NTT UD REIT Investment Past Earnings Performance

Past criteria checks 4/6

Key information

Recent past performance updates

First half 2024 earnings released: FFO per share: JP¥4.0k (vs JP¥3,636 in 1H 2023)

First half 2024 earnings released: EPS: JP¥2,849 (vs JP¥3,572 in 1H 2023)

Full year 2023 earnings released: FFO per share: JP¥6.9k (vs JP¥7,531 in FY 2022)

NTT UD REIT Investment Corporation to Report Q2, 2024 Results on Dec 15, 2023

First half 2023 earnings released: FFO per share: JP¥3.6k (vs JP¥3,720 in 1H 2022)

First half 2023 earnings released: EPS: JP¥3,572 (vs JP¥4,055 in 1H 2022)

Recent updates

Now 22% overvalued

Upcoming dividend of JP¥2,810 per share

NTT UD REIT Investment Corporation Announces Board Changes

Now 22% overvalued

First half dividend of JP¥2,810 announced

First half 2024 earnings released: FFO per share: JP¥4.0k (vs JP¥3,636 in 1H 2023)

First half 2024 earnings released: EPS: JP¥2,849 (vs JP¥3,572 in 1H 2023)

Upcoming dividend of JP¥3,216 per share

Full year 2023 earnings released: FFO per share: JP¥6.9k (vs JP¥7,531 in FY 2022)

NTT UD REIT Investment Corporation acquire Two Office Buildings in Japan from NTT Urban Development Corporation for ¥18.4 billion.

New major risk - Revenue and earnings growth

NTT UD REIT Investment Corporation Reports Dividend for the Period from May 1, 2023 to October 31, 2023, Payable on January 22, 2024

New minor risk - Shareholder dilution

NTT UD REIT Investment Corporation acquired Two Office Buildings in Japan from NTT Urban Development Corporation for ¥18.4 billion

NTT UD REIT Investment Corporation to Report Q2, 2024 Results on Dec 15, 2023

Now 21% undervalued after recent price drop

Upcoming dividend of JP¥3,150 per share at 4.4% yield

First half 2023 earnings released: FFO per share: JP¥3.6k (vs JP¥3,720 in 1H 2022)

New major risk - Revenue and earnings growth

New major risk - Financial position

First half 2023 earnings released: EPS: JP¥3,572 (vs JP¥4,055 in 1H 2022)

Upcoming dividend of JP¥3,150 per share at 4.0% yield

Full year 2022 earnings released: FFO per share: JP¥7.5k (vs JP¥3,671 in FY 2021)

NTT UD REIT Investment Corporation Reports Dividend for the Period from May 1, 2022 to October 31, 2022, Payable on January 21, 2023

No independent directors

NTT UD REIT Investment Corporation to Report Q2, 2023 Results on Dec 15, 2022

Upcoming dividend of JP¥2,730 per share

First half 2022 earnings released: FFO: JP¥12.6b per share (vs JP¥3,714 in 1H 2021)

NTT UD REIT Investment Corporation Announces Resignation of Yuichi Kato as Executive Director, Effective June 30, 2022

First half 2022 earnings released: EPS: JP¥4,055 (vs JP¥4,024 in 1H 2021)

NTT UD REIT Investment Corporation Provides Dividend Forecast of the 40Th Fiscal Period (May 1, 2022 October 31, 2022) and the 41st Fiscal Period (November 1, 2022 April 30, 2023)

NTT UD REIT Investment Corporation to Report Fiscal Year 2022 Results on Jun 16, 2022

No independent directors

Upcoming dividend of JP¥3,975 per share

Upcoming dividend of JP¥3,130 per share

Price target increased to JP¥154,333

First half 2021 earnings released: EPS JP¥4,024 (vs JP¥2,872 in 1H 2020)

NTT UD REIT Investment Corporation Provides Earnings Guidance for the Periods Ending October 31, 2021 and April 30, 2022

Upcoming dividend of JP¥3,890 per share

Premier Investment Corporation, Annual General Meeting, Mar 25, 2021

New 90-day high: JP¥144,700

New 90-day high: JP¥134,300

Full year 2020 earnings released: EPS JP¥5,796 (vs JP¥6,042 in FY 2019)

New 90-day high: JP¥127,900

New 90-day high: JP¥126,600

Premier Investment Corporation (TSE:8956) acquired Shinagawa Season Terrace acquired ¥12.2 billion.

An unknown buyer agreed to acquire Beneficiary interest in Urbannet Kojimachi Building in Japan from Premier Investment Corporation (TSE:8956) for ¥5.5 billion.

Price target lowered to JP¥135,500

Revenue & Expenses Breakdown

Earnings and Revenue History

Free Cash Flow vs Earnings Analysis

Past Earnings Growth Analysis

Return on Equity

Return on Assets

Return on Capital Employed

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