Nippon Accommodations Fund Inc. (JP:3226)
:3226
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Nippon Accommodations Fund Inc.
(3226)
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Rating:58Neutral
Price Target:
¥125,112
▼(-7.39% Downside)
Action:Reiterated
Date:03/24/26
The score is driven primarily by moderate financial performance: strong profitability and a stable balance sheet are offset by the sharp 2025 revenue decline, elevated leverage, and weakening/volatile free cash flow. Technicals add a modest headwind due to negative MACD and the price sitting below short-term moving averages, while valuation (moderate P/E and ~3.5% yield) provides some support.
Positive Factors
Stable rental‑income business model
The REIT’s core revenue is recurring rental income from middle‑ to high‑income residential assets in prime urban areas, supported by a strategic sponsor relationship with Mitsui Fudosan. This combination underpins predictable cash flows and sourcing/management advantages that persist beyond short cycles.
Negative Factors
Sharp 2025 revenue decline
A pronounced annual revenue decline in 2025 and lower net income reduce the predictability of cash available for distributions and reinvestment. If this reflects structural demand or occupancy shifts, it can pressure long‑term earnings visibility and growth plans for the REIT.
Read all positive and negative factors
Positive Factors
Negative Factors
Stable rental‑income business model
The REIT’s core revenue is recurring rental income from middle‑ to high‑income residential assets in prime urban areas, supported by a strategic sponsor relationship with Mitsui Fudosan. This combination underpins predictable cash flows and sourcing/management advantages that persist beyond short cycles.
Read all positive factors
Nippon Accommodations Fund Inc. (3226) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥302.84B
Dividend Yield3.56%
Average Volume (3M)5.48K
Price to Earnings (P/E)25.1
Beta (1Y)0.14
Revenue Growth6.93%
EPS Growth7.40%
CountryJP
EmployeesN/A
SectorReal Estate
Sector Strength53
IndustryREIT - Diversified
Share Statistics
EPS (TTM)N/A
Shares Outstanding2,517,360
10 Day Avg. Volume3,998
30 Day Avg. Volume5,480
Financial Highlights & Ratios
PEG Ratio9.92
Price to Book (P/B)2.04
Price to Sales (P/S)23.56
P/FCF Ratio42.26
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Nippon Accommodations Fund Inc. Business Overview & Revenue Model
Company Description
Nippon Accommodations Fund Inc. (NAF) was launched on October 12, 2005, structured as an investment corporation under the Japanese Investment Trust and Investment Corporation Act. Its establishment was sponsored by Mitsui Fudosan Accommodations Fu...
How the Company Makes Money
Nippon Accommodations Fund Inc. generates revenue primarily through rental income from its residential properties. The company invests in acquiring high-quality, strategically located residential assets, which it leases to tenants under long-term ...
Nippon Accommodations Fund Inc. Financial Statement Overview
Summary
Income Statement
63
Positive
Balance Sheet
58
Neutral
Cash Flow
52
Neutral
| Breakdown | TTM | Feb 2025 | Feb 2024 | Aug 2023 | Feb 2022 | Feb 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 14.09B | 13.20B | 25.29B | 25.39B | 24.65B | 23.55B |
| Gross Profit | 6.67B | 7.84B | 15.01B | 14.94B | 14.21B | 13.34B |
| EBITDA | 17.06B | 8.28B | 15.96B | 15.99B | 15.50B | 14.73B |
| Net Income | 12.20B | 5.85B | 11.34B | 11.32B | 10.57B | 9.84B |
Balance Sheet | ||||||
| Total Assets | 330.62B | 328.69B | 325.69B | 327.05B | 328.47B | 327.82B |
| Cash, Cash Equivalents and Short-Term Investments | 12.14B | 9.91B | 11.49B | 14.86B | 13.05B | 12.26B |
| Total Debt | 169.70B | 168.50B | 166.00B | 167.50B | 169.50B | 169.50B |
| Total Liabilities | 177.75B | 176.32B | 173.61B | 175.18B | 177.30B | 176.90B |
| Stockholders Equity | 152.87B | 152.37B | 152.08B | 151.87B | 151.17B | 150.93B |
Cash Flow | ||||||
| Free Cash Flow | 7.60B | 7.36B | 9.37B | 14.48B | 11.24B | -9.15B |
| Operating Cash Flow | 16.77B | 15.57B | 15.20B | 15.97B | 15.09B | 14.10B |
| Investing Cash Flow | -9.16B | -8.18B | -5.90B | -1.60B | -3.91B | -23.22B |
| Financing Cash Flow | -8.94B | -8.86B | -12.63B | -12.61B | -10.37B | 11.84B |
Nippon Accommodations Fund Inc. Technical Analysis
Negative
135100.00
Price Trends
127226.00
Negative
131805.43
Negative
130583.97
Negative
Market Momentum
-1971.78
Negative
37.95
Neutral
22.99
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:3226, the sentiment is Negative. The current price of 135100 is above the 20-day moving average (MA) of 121935.00, above the 50-day MA of 127226.00, and above the 200-day MA of 130583.97, indicating a bearish trend. The MACD of -1971.78 indicates Negative momentum. The RSI at 37.95 is Neutral, neither overbought nor oversold. The STOCH value of 22.99 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:3226.
Nippon Accommodations Fund Inc. Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | ¥327.96B | 15.34 | 6.80% | 5.16% | 5.14% | -0.41% | |
67 Neutral | ¥317.48B | 22.47 | 5.35% | 4.18% | 2.53% | 1.49% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
63 Neutral | ¥241.84B | 19.69 | ― | 4.15% | 1.36% | -1.18% | |
63 Neutral | ¥154.30B | 11.71 | ― | 4.70% | 73.49% | 34.06% | |
58 Neutral | ¥302.84B | 25.10 | ― | 3.56% | 6.93% | 7.40% |
* Real Estate Sector Average
JP:3226
Nippon Accommodations Fund Inc.
121,700.00
7,450.18
6.52%
JP:3279
Activia Properties
135,300.00
16,543.34
13.93%
JP:3309
Sekisui House Reit
76,700.00
5,544.55
7.79%
JP:3234
Mori Hills Reit Investment Corporation
127,000.00
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NIPPON REIT Investment Corp
84,300.00
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Star Asia Investment Corp.
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807.11
1.50%
Nippon Accommodations Fund Inc. Corporate Events
Mitsui Fudosan Accommodations Fund Secures ¥2.5 Billion Loan for Residential Acquisitions
Jun 3, 2026
Mitsui Fudosan Accommodations Fund Inc. has arranged a new 2.5 billion yen long-term loan from Mizuho Bank, on an unsecured, unguaranteed basis with bullet repayment in May 2036. The interest is set at a floating rate tied to the one-month JBA Jap...
Mitsui Fudosan Accommodations Fund Refinances ¥5.5 Billion in Loans Without Raising Leverage
May 27, 2026
Mitsui Fudosan Accommodations Fund Inc. has arranged a total of 5.5 billion yen in new bank loans, split among Sumitomo Mitsui Trust Bank, Kiraboshi Bank, and Hachijuni Nagano Bank, with a mix of short-term and long-term maturities and floating ra...
Mitsui Fudosan Accommodations Fund to Acquire Park Cube Hachioji Residential Asset
May 22, 2026
Mitsui Fudosan Accommodations Fund Inc., a Japanese residential-focused real estate investment trust managed by Mitsui Fudosan Accommodations Fund Management, continues to expand its portfolio in the domestic rental housing sector. The vehicle emp...
Mitsui Fudosan Accommodations Fund Refinances Debt with 5 Billion Yen Including Green Loan
Apr 27, 2026
Mitsui Fudosan Accommodations Fund Inc. has arranged two new borrowings totaling 5 billion yen, including a 2 billion yen unsecured bullet loan from The Bank of Fukuoka and a 3 billion yen green loan from MUFG Bank, both tied to JBA three‑mo...
Mitsui Fudosan Accommodations Fund to Cut Debt with Early 3 Billion Yen Loan Repayment
Apr 22, 2026
Mitsui Fudosan Accommodations Fund Inc. has decided to make an early repayment of a 3.0 billion yen unsecured, unguaranteed loan from MUFG Bank, originally due March 31, 2027, with repayment scheduled for April 30, 2026. The repayment will complet...
Mitsui Fudosan Accommodations Fund Lifts Earnings and Distributions on Stable Cash Flows
Apr 16, 2026
Mitsui Fudosan Accommodations Fund Inc. reported higher results for the fiscal period from September 1, 2025 to February 28, 2026, with total revenues rising to ¥13.7 billion and operating income up 8.7% to ¥6.9 billion. Net income incre...
Mitsui Fudosan Accommodations Fund Completes Domestic Property Acquisitions and Sales
Apr 9, 2026
Mitsui Fudosan Accommodations Fund Inc. has completed the previously announced acquisition of two domestic residential properties, Park Axis Oshiage Residence and Park Axis Nishi Magome, for a combined ¥3.21 billion. Both assets consist of re...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.