Fukuoka REIT Future Growth

Future criteria checks 2/6

Fukuoka REIT is forecast to grow earnings and revenue by 6.2% and 5.3% per annum respectively. EPS is expected to grow by 3.2% per annum. Return on equity is forecast to be 6.2% in 3 years.

Key information

6.2%

Earnings growth rate

3.2%

EPS growth rate

Retail REITs earnings growth	17.8%
Revenue growth rate	5.3%
Future return on equity	6.2%
Analyst coverage	Low
Last updated	15 Nov 2024

Recent future growth updates

Recent updates

Earnings and Revenue Growth Forecasts

TSE:8968 - Analysts future estimates and past financials data (JPY Millions)
Date	Revenue	Earnings	Free Cash Flow	Cash from Op	Avg. No. Analysts
2/28/2027	21,128	7,322	N/A	N/A	2
2/28/2026	20,879	7,411	N/A	N/A	2
2/28/2025	19,869	7,027	N/A	N/A	2
2/29/2024	17,941	6,017	7,662	7,664	N/A
11/30/2023	17,858	5,927	8,145	8,146	N/A
8/31/2023	17,774	5,837	8,627	8,627	N/A
5/31/2023	17,763	5,746	9,014	9,014	N/A
2/28/2023	17,753	5,654	9,401	9,401	N/A
11/30/2022	17,621	5,637	8,630	8,630	N/A
8/31/2022	17,489	5,619	7,859	7,859	N/A
5/31/2022	17,456	5,625	7,865	7,865	N/A
2/28/2022	17,422	5,632	7,871	7,871	N/A
11/30/2021	17,544	5,562	8,985	8,985	N/A
8/31/2021	17,667	5,492	10,099	10,099	N/A
5/31/2021	17,545	5,377	9,462	9,462	N/A
2/28/2021	17,422	5,262	7,991	8,825	N/A
11/30/2020	17,552	5,374	8,131	8,131	N/A
8/31/2020	17,681	5,486	7,437	7,437	N/A
5/31/2020	18,038	5,662	8,133	8,143	N/A
2/29/2020	18,394	5,838	8,540	8,848	N/A
11/30/2019	18,434	5,856	9,246	9,272	N/A
8/31/2019	18,474	5,874	9,661	9,696	N/A
5/31/2019	18,448	5,834	7,426	9,339	N/A
2/28/2019	18,420	5,794	1,590	8,982	N/A
11/30/2018	17,897	5,639	4,929	8,712	N/A
8/31/2018	17,373	5,484	4,667	8,442	N/A
5/31/2018	16,842	5,332	6,265	8,162	N/A
2/28/2018	16,312	5,179	7,453	7,883	N/A
11/30/2017	16,251	5,968	N/A	7,579	N/A
8/31/2017	16,190	6,755	N/A	7,276	N/A
5/31/2017	16,248	5,946	N/A	7,649	N/A
2/28/2017	16,307	5,137	N/A	8,022	N/A
11/30/2016	16,442	4,373	N/A	8,266	N/A
8/31/2016	16,578	3,608	N/A	8,511	N/A
5/31/2016	16,672	4,470	N/A	8,426	N/A
2/29/2016	16,766	5,331	N/A	8,341	N/A
11/30/2015	16,490	5,181	N/A	8,122	N/A
8/31/2015	16,213	5,032	N/A	7,902	N/A
5/31/2015	15,891	4,832	N/A	7,764	N/A
2/28/2015	15,569	4,631	N/A	7,626	N/A
11/30/2014	15,462	4,566	N/A	7,608	N/A
8/31/2014	15,355	4,500	N/A	7,590	N/A
5/31/2014	15,247	4,505	N/A	7,449	N/A
2/28/2014	15,139	4,509	N/A	7,308	N/A
11/30/2013	14,953	4,392	N/A	7,019	N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: 8968's forecast earnings growth (6.2% per year) is above the savings rate (0.3%).

Earnings vs Market: 8968's earnings (6.2% per year) are forecast to grow slower than the JP market (7.9% per year).

High Growth Earnings: 8968's earnings are forecast to grow, but not significantly.

Revenue vs Market: 8968's revenue (5.3% per year) is forecast to grow faster than the JP market (4.1% per year).

High Growth Revenue: 8968's revenue (5.3% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: 8968's Return on Equity is forecast to be low in 3 years time (6.2%).

Fukuoka REIT Future Growth

Future criteria checks 2/6

Key information

Recent future growth updates

Fukuoka REIT Corporation Provides Earnings Guidance for the Period from September 1, 2024 to February 28, 2025 and for the Period from March 1, 2025 to August 31, 2025

Price target increased to JP¥171,500

Recent updates

Fukuoka REIT Corporation Provides Earnings Guidance for the Period from September 1, 2024 to February 28, 2025 and for the Period from March 1, 2025 to August 31, 2025

New minor risk - Shareholder dilution

Fukuoka REIT Corporation has filed a Follow-on Equity Offering.

Upcoming dividend of JP¥3,600 per share

First half 2024 earnings released: FFO per share: JP¥5.5k (vs JP¥5,319 in 1H 2023)

First half dividend of JP¥3,600 announced

First half 2024 earnings released: EPS: JP¥3,807 (vs JP¥3,580 in 1H 2023)

Fukuoka REIT Corporation, Annual General Meeting, May 22, 2024

Fukuoka REIT Corporation to Report Fiscal Year 2024 Results on Apr 16, 2024

Upcoming dividend of JP¥3,755 per share

Full year 2023 earnings released: FFO per share: JP¥10.5 (vs JP¥10,828 in FY 2022)

Full year 2023 earnings released

Fukuoka REIT Corporation to Report Q2, 2024 Results on Oct 18, 2023

Upcoming dividend of JP¥3,600 per share at 4.3% yield

Full year 2023 earnings released: FFO per share: JP¥5.4k (vs JP¥5,358 in FY 2022)

First half 2023 earnings released: EPS: JP¥3,579 (vs JP¥3,536 in 1H 2022)

No independent directors

Upcoming dividend of JP¥3,520 per share at 4.3% yield

Now 21% undervalued

No independent directors

Now 20% undervalued

An unknown buyer agreed to acquire Kurume Higashi Kushiwara Shopping Center from Fukuoka REIT Corporation (TSE:8968) for JPY 2740 million.

Fukuoka REIT Corporation to Report First Half, 2023 Results on Oct 19, 2022

Upcoming dividend of JP¥3,500 per share

Full year 2022 earnings released: FFO: JP¥17.4b per share (vs JP¥10,769 in FY 2021)

No independent directors

Fukuoka REIT Corporation, Annual General Meeting, May 25, 2022

First half 2022 earnings released: EPS: JP¥3,535 (vs JP¥3,361 in 1H 2021)

Fukuoka REIT Corporation, Annual General Meeting, May 25, 2022

Upcoming dividend of JP¥3,500 per share

Fukuoka REIT Corporation to Report Fiscal Year 2022 Results on Apr 14, 2022

Full year 2021 earnings: Revenues and EPS in line with analyst expectations

Upcoming dividend of JP¥3,500 per share

First half 2021 earnings released: FFO JP¥5,401 per share (vs JP¥5,727 in 1H 2020)

Hoshino Resorts REIT, Inc. (TSE:3287) completed the acquisition of 88.28% stake in Canal City Hakata B Grand Building from Fukuoka REIT Corporation (TSE:8968).

Price target increased to JP¥171,500

Fukuoka REIT Corporation Announces Dividend for the Period Ended February 2021, Payable on May 18, 2021

Fukuoka REIT to Be Deleted from Other OTC

First half 2021 earnings released: EPS JP¥3,361 (vs JP¥3,642 in 1H 2020)

Hoshino Resorts REIT, Inc. (TSE:3287) entered into a contract to acquire 88.28% stake in Canal City Hakata B Grand Building from Fukuoka REIT Corporation (TSE:8968) for ¥7.7 billion.

New 90-day high: JP¥171,500

Fukuoka REIT Corporation to Report Fiscal Year 2021 Results on Apr 15, 2021

New 90-day high: JP¥153,800

New 90-day high: JP¥152,300

New 90-day high: JP¥142,500

Fukuoka REIT Corporation to Report Fiscal Year 2020 Results on Oct 16, 2020

Fukuoka REIT Corporation (TSE:8968) completed the acquisition of Real Estate Beneficiary Interest in Higashi Hie Business Center III located in Fukuoka City, Japan from Fukuoka Jisho Co.,Ltd.

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings per Share Growth Forecasts

Future Return on Equity

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