Ichigo Office REIT Investment Past Earnings Performance

Past criteria checks 5/6

Ichigo Office REIT Investment has been growing earnings at an average annual rate of 3.5%, while the Office REITs industry saw earnings growing at 4.6% annually. Revenues have been growing at an average rate of 2.9% per year. Ichigo Office REIT Investment's return on equity is 9.3%, and it has net margins of 46.7%.

Key information

3.5%

Earnings growth rate

3.8%

EPS growth rate

Office REITs Industry Growth	4.8%
Revenue growth rate	2.9%
Return on equity	9.3%
Net Margin	46.7%
Last Earnings Update	31 Oct 2023

Recent past performance updates

Recent updates

Revenue & Expenses Breakdown
Beta

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

Earnings and Revenue History

TSE:8975 Revenue, expenses and earnings (JPY Millions)
Date	Revenue	Earnings	G+A Expenses
31 Oct 23	20,295	9,485	127
30 Apr 23	20,182	9,391	102
31 Jan 23	18,329	8,042	101
31 Oct 22	16,476	6,692	101
31 Jul 22	16,498	6,792	99
30 Apr 22	16,519	6,892	97
31 Jan 22	16,044	6,607	97
31 Oct 21	15,568	6,322	112
31 Jul 21	15,579	6,379	98
30 Apr 21	15,589	6,435	99
31 Jan 21	15,857	6,662	99
31 Oct 20	16,124	6,888	113
30 Apr 20	16,565	7,130	110
31 Jan 20	16,660	7,208	110
31 Oct 19	16,755	7,286	110
30 Apr 19	16,084	6,713	101
31 Jan 19	16,389	7,068	102
31 Oct 18	16,694	7,422	116
31 Jul 18	16,644	7,330	101
30 Apr 18	18,124	8,882	126
31 Jan 18	15,738	6,325	102
31 Oct 17	14,883	5,411	117
31 Jul 17	14,663	5,245	104
30 Apr 17	14,704	5,230	126
31 Jan 17	14,108	5,012	101
31 Oct 16	13,772	4,944	104
31 Jul 16	13,352	4,641	93
30 Apr 16	13,364	4,964	116
31 Jan 16	12,100	3,447	83
31 Oct 15	11,269	2,557	87
30 Apr 15	10,040	1,408	86
31 Oct 14	9,230	2,818	94
30 Apr 14	9,274	2,612	90
31 Oct 13	9,144	2,978	82

Quality Earnings: 8975 has high quality earnings.

Growing Profit Margin: 8975's current net profit margins (46.7%) are higher than last year (40.6%).

Free Cash Flow vs Earnings Analysis

Past Earnings Growth Analysis

Earnings Trend: 8975's earnings have grown by 3.5% per year over the past 5 years.

Accelerating Growth: 8975's earnings growth over the past year (41.7%) exceeds its 5-year average (3.5% per year).

Earnings vs Industry: 8975 earnings growth over the past year (41.7%) exceeded the Office REITs industry -0.2%.

Ichigo Office REIT Investment Past Earnings Performance

Past criteria checks 5/6

Key information

Recent past performance updates

Full year 2023 earnings released: EPS: JP¥6,268 (vs JP¥4,422 in FY 2022)

Ichigo Office REIT Investment Corporation to Report Q2, 2024 Results on Dec 15, 2023

First half 2023 earnings released: EPS: JP¥4,222 (vs JP¥2,439 in 1H 2022)

Ichigo Office REIT Investment Corporation to Report Fiscal Year 2023 Results on Jul 26, 2023

Ichigo Office REIT Investment Corporation to Report Q4, 2023 Results on Jun 14, 2023

Full year 2022 earnings released: EPS: JP¥4,422 (vs JP¥4,165 in FY 2021)

Recent updates

Upcoming dividend of JP¥2,006 per share

Final dividend of JP¥2,006 announced

Full year 2023 earnings released: EPS: JP¥6,268 (vs JP¥4,422 in FY 2022)

Ichigo Office REIT Investment Corporation to Report Q2, 2024 Results on Dec 15, 2023

An unknown buyer completed the acquisition of Twicere Yokohama Isogo Z-11 from Ichigo Office REIT Investment Corporation (TSE:8975).

Upcoming dividend of JP¥2,116 per share at 4.7% yield

Ichigo Office REIT Investment Corporation (TSE:8975) agreed to acquire Ichigo Kinshicho South Building for ¥1.9 billion.

Ichigo Office REIT Investment Corporation Revises Earnings Guidance for the Fiscal Year Ending October 2023

Price target decreased by 9.3% to JP¥90,250

Ichigo Office REIT Investment Corporation Appoints Takafumi Kagiyama as Executive Director and Yuji Maruo as Supervisory Director

First half 2023 earnings released: EPS: JP¥4,222 (vs JP¥2,439 in 1H 2022)

Ichigo Office REIT Investment Corporation to Report Fiscal Year 2023 Results on Jul 26, 2023

Ichigo Office REIT Investment Corporation Provides Earnings Forecasts for the First Half Ending October 2023 and Second Half Ending October 2023

Ichigo Office REIT Investment Corporation to Report Q4, 2023 Results on Jun 14, 2023

Upcoming dividend of JP¥4,132 per share at 6.4% yield

No independent directors

Full year 2022 earnings released: EPS: JP¥4,422 (vs JP¥4,165 in FY 2021)

Ichigo Office REIT Investment Corporation (TSE:8975) agreed to acquire Two Office Assets from GK Kizuna1 for ¥6.25 billion.

An unknown buyer completed the acquisition of Ichigo Ikenohata Building from Ichigo Office REIT Investment Corporation (TSE:8975).

Ichigo Office REIT Investment Corporation to Report Q2, 2023 Results on Jan 27, 2023

Ichigo Office REIT Investment Corporation (TSE:8975) agreed to acquire Trust beneficiary interest in Ichigo Marunouchi South Building for 1.7 billion.

Ichigo Office REIT Investment Corporation to Report Q2, 2023 Results on Dec 15, 2022

No independent directors

Ichigo Office REIT Investment Corporation Revises Dividend Forecast for the Period from November 1, 2022 to April 30, 2023

Upcoming dividend of JP¥2,023 per share

First half 2022 earnings released: EPS: JP¥2,439 (vs JP¥2,051 in 1H 2021)

Ichigo Office REIT Investment Corporation Approves Board Appointments

Ichigo Office REIT Investment Corporation to Report Fiscal Year 2022 Results on Jul 28, 2022

First half 2022 earnings released: EPS: JP¥2,438 (vs JP¥2,051 in 1H 2021)

Ichigo Office REIT Investment Corporation Provides Dividend Guidance for the Fiscal Period October 2022 and April 2023

Ichigo Office REIT Investment Corporation to Report Second Half, 2022 Results on Jun 14, 2022

No independent directors

Upcoming dividend of JP¥2,500 per share

Ichigo Office REIT Investment Corporation Revises Dividend for the Year Ended April 2022

Ichigo Office REIT Investment Corporation Revises Earnings Guidance for the Year April 2022

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

Upcoming dividend of JP¥2,142 per share

Full year 2021 earnings released: EPS JP¥4,100 (vs JP¥4,653 in FY 2020)

First half 2021 earnings released: EPS JP¥2,050 (vs JP¥2,334 in 1H 2020)

Price target increased to JP¥102,000

Ichigo Office REIT Investment Corporation Provides Earnings Guidance for the Period from May 1, 2021 to October 31, 2021 and for the Period from November 1, 2021 to April 30, 2022

Upcoming dividend of JP¥2,063 per share

New 90-day high: JP¥91,600

Ichigo Office REIT Investment Corporation Announces Changes in Executive Officers of Asset Management Company, Effective April 1, 2021

Full year 2020 earnings released: EPS JP¥4,495 (vs JP¥4,755 in FY 2019)

New 90-day high: JP¥82,000

Ichigo Joins Re100

New 90-day high: JP¥75,300

Ichigo Office REIT Investment Corporation (TSE:8975) signed a contract to acquire Ichigo Tachikawa Building from Tachikawa Holdings GK for ¥3.8 billion.

Price target lowered to JP¥93,250

An unknown buyer completed the acquisition of Lions Square Kawaguchi from Ichigo Office REIT Investment Corporation (TSE:8975).

Revenue & Expenses BreakdownBeta

Earnings and Revenue History

Free Cash Flow vs Earnings Analysis

Past Earnings Growth Analysis

Return on Equity

Return on Assets

Return on Capital Employed

Discover strong past performing companies

Revenue & Expenses Breakdown
Beta