8975 Stock Overview
Ichigo Office (8975) is a specialized office REIT that focuses on mid-size offices, an asset class that offers both return stability and upside potential.
Ichigo Office REIT Investment Competitors
Price History & Performance
|Historical stock prices|
|Current Share Price||JP¥85,600.00|
|52 Week High||JP¥99,400.00|
|52 Week Low||JP¥75,500.00|
|1 Month Change||3.13%|
|3 Month Change||0.23%|
|1 Year Change||-10.27%|
|3 Year Change||-18.48%|
|5 Year Change||14.90%|
|Change since IPO||37.75%|
Recent News & Updates
|8975||JP REITs||JP Market|
Return vs Industry: 8975 underperformed the JP REITs industry which returned -4.9% over the past year.
Return vs Market: 8975 underperformed the JP Market which returned 2.5% over the past year.
|8975 Average Weekly Movement||2.1%|
|REITs Industry Average Movement||2.4%|
|Market Average Movement||3.8%|
|10% most volatile stocks in JP Market||7.8%|
|10% least volatile stocks in JP Market||2.0%|
Stable Share Price: 8975 is less volatile than 75% of JP stocks over the past 3 months, typically moving +/- 2% a week.
Volatility Over Time: 8975's weekly volatility (2%) has been stable over the past year.
About the Company
Ichigo Office (8975) is a specialized office REIT that focuses on mid-size offices, an asset class that offers both return stability and upside potential. Ichigo Office seeks to drive higher earnings and sustainable growth for its shareholders by increasing the value of its assets through a broad array of value-add activities, including tailored tenant services, structural building improvements, and targeted tenant leasing. Ichigo Office is managed by Ichigo Investment Advisors, the asset management subsidiary of Ichigo, a major Japanese real estate owner/operator.
Ichigo Office REIT Investment Fundamentals Summary
|8975 fundamental statistics|
Is 8975 overvalued?See Fair Value and valuation analysis
Earnings & Revenue
|8975 income statement (TTM)|
|Cost of Revenue||JP¥8.19b|
Last Reported Earnings
Apr 30, 2022
Next Earnings Date
|Earnings per share (EPS)||4.88k|
|Net Profit Margin||42.54%|
How did 8975 perform over the long term?See historical performance and comparison
5.5%Current Dividend Yield
Does 8975 pay a reliable dividends?See 8975 dividend history and benchmarks
|Ichigo Office REIT Investment dividend dates|
|Ex Dividend Date||Oct 28 2022|
|Dividend Pay Date||Jan 23 2023|
|Days until Ex dividend||72 days|
|Days until Dividend pay date||159 days|
Does 8975 pay a reliable dividends?See 8975 dividend history and benchmarks
Is 8975 undervalued compared to its fair value, analyst forecasts and its price relative to the market?
Valuation Score 4/6
Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Below Fair Value
Significantly Below Fair Value
Key Valuation Metric
Which metric is best to use when looking at relative valuation for 8975?
Other financial metrics that can be useful for relative valuation.
|What is 8975's n/a Ratio?|
Price to Earnings Ratio vs Peers
How does 8975's PE Ratio compare to its peers?
|8975 PE Ratio vs Peers|
|Company||PE||Estimated Growth||Market Cap|
8958 Global One Real Estate Investment
8987 Japan Excellent
8961 MORI TRUST Sogo Reit
8975 Ichigo Office REIT Investment
Price-To-Earnings vs Peers: 8975 is good value based on its Price-To-Earnings Ratio (17.6x) compared to the peer average (21.1x).
Price to Earnings Ratio vs Industry
How does 8975's PE Ratio compare vs other companies in the JP REITs Industry?
Price-To-Earnings vs Industry: 8975 is good value based on its Price-To-Earnings Ratio (17.6x) compared to the JP REITs industry average (26.6x)
Price to Earnings Ratio vs Fair Ratio
What is 8975'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.
|Current PE Ratio||17.6x|
|Fair PE Ratio||n/a|
Price-To-Earnings vs Fair Ratio: Insufficient data to calculate 8975's Price-To-Earnings Fair Ratio for valuation analysis.
Share Price vs Fair Value
What is the Fair Price of 8975 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.
Below Fair Value: 8975 (¥85600) is trading below our estimate of fair value (¥188927.04)
Significantly Below Fair Value: 8975 is trading below fair value by more than 20%.
Analyst Price Targets
What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?
Analyst Forecast: Target price is less than 20% higher than the current share price.
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How is Ichigo Office REIT Investment forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?
Future Growth Score0/6
Future Growth Score 0/6
Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
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 Ichigo Office 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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- Examine whether Ichigo Office REIT Investment is trading at an attractive price based on how much it is expected to earn in the future, and relative to its industry peers and the wider market.
How has Ichigo Office REIT Investment performed over the past 5 years?
Past Performance Score5/6
Past Performance Score 5/6
Growing Profit Margin
Earnings vs Industry
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: 8975 has high quality earnings.
Growing Profit Margin: 8975's current net profit margins (42.5%) are higher than last year (40.4%).
Past Earnings Growth Analysis
Earnings Trend: 8975's earnings have grown by 1.5% per year over the past 5 years.
Accelerating Growth: 8975's earnings growth over the past year (18.2%) exceeds its 5-year average (1.5% per year).
Earnings vs Industry: 8975 earnings growth over the past year (18.2%) exceeded the REITs industry 5.4%.
Return on Equity
High ROE: 8975's Return on Equity (7.2%) is considered low.
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How is Ichigo Office REIT Investment's financial position?
Financial Health Score2/6
Financial Health Score 2/6
Short Term Liabilities
Long Term Liabilities
Financial Position Analysis
Short Term Liabilities: 8975's short term assets (¥25.0B) exceed its short term liabilities (¥22.8B).
Long Term Liabilities: 8975's short term assets (¥25.0B) do not cover its long term liabilities (¥102.4B).
Debt to Equity History and Analysis
Debt Level: 8975's net debt to equity ratio (98%) is considered high.
Reducing Debt: 8975's debt to equity ratio has increased from 94.6% to 108.2% over the past 5 years.
Debt Coverage: 8975's debt is not well covered by operating cash flow (9.5%).
Interest Coverage: 8975's interest payments on its debt are well covered by EBIT (6x coverage).
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What is Ichigo Office REIT Investment current dividend yield, its reliability and sustainability?
Dividend Score 4/6
Cash Flow Coverage
Current Dividend Yield
Upcoming Dividend Payment
Dividend Yield vs Market
Notable Dividend: 8975's dividend (5.47%) is higher than the bottom 25% of dividend payers in the JP market (1.63%).
High Dividend: 8975's dividend (5.47%) is in the top 25% of dividend payers in the JP market (3.61%)
Stability and Growth of Payments
Stable Dividend: 8975's dividend payments have been volatile in the past 10 years.
Growing Dividend: 8975's dividend payments have fallen over the past 10 years.
Earnings Payout to Shareholders
Earnings Coverage: With its reasonable payout ratio (62.3%), 8975's dividend payments are covered by earnings.
Cash Payout to Shareholders
Cash Flow Coverage: At its current cash payout ratio (76.9%), 8975's dividend payments are covered by cash flows.
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How experienced are the management team and are they aligned to shareholders interests?
Average board tenure
Yoshihiro Takatsuka (67 yo)
Mr. Yoshihiro Takatsuka served as the President at Ichigo Office REIT Investment Corporation (formerly known as Ichigo Real Estate Investment Corporation). Mr. Takatsuka serves as Executive Director at Ich...
Experienced Board: 8975's board of directors are considered experienced (8.4 years average tenure).
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.
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Ichigo Office REIT Investment Corporation's employee growth, exchange listings and data sources
- Name: Ichigo Office REIT Investment Corporation
- Ticker: 8975
- Exchange: TSE
- Founded: 2005
- Industry: Office REITs
- Sector: Real Estate
- Implied Market Cap: JP¥129.544b
- Shares outstanding: 1.51m
- Website: https://www.ichigo-office.co.jp
- Ichigo Office REIT Investment Corporation
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Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2022/08/16 00:00|
|End of Day Share Price||2022/08/16 00:00|
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.