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GLP J-REIT
(3281)
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Rating:68Neutral
Price Target:
¥152,382
▲(6.04% Upside)
Action:N/A
Date:03/19/26
The score is primarily supported by solid financial performance (strong profitability and recent revenue acceleration), with valuation also a positive due to the low P/E and ~5% yield. Offsetting factors are mixed cash-flow consistency and muted technical momentum (negative MACD and price sitting below key medium-term moving averages).
Positive Factors
High Profitability
Sustained high net margins (~38%) and solid operating profitability indicate property-level cash generation is healthy. For a REIT, durable margin strength supports stable distributions, funds capital recycling, and provides a cushion versus cyclical rent or expense swings, enhancing long-term resilience.
Negative Factors
High Absolute Debt Load
Although leverage ratios are moderate, the consistently high absolute debt balance reduces financial flexibility and elevates refinancing and interest rate risk for a capital-intensive REIT. Rising financing costs or weaker asset values could pressure distributions and limit opportunistic acquisitions.
Read all positive and negative factors
Positive Factors
Negative Factors
High Profitability
Sustained high net margins (~38%) and solid operating profitability indicate property-level cash generation is healthy. For a REIT, durable margin strength supports stable distributions, funds capital recycling, and provides a cushion versus cyclical rent or expense swings, enhancing long-term resilience.
Read all positive factors
GLP J-REIT (3281) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥695.67B
Dividend Yield4.72%
Average Volume (3M)10.58K
Price to Earnings (P/E)22.5
Beta (1Y)0.10
Revenue Growth29.96%
EPS Growth8.18%
CountryJP
Employees44,000
SectorGeneral
Sector StrengthN/A
IndustryREIT - Industrial
Share Statistics
EPS (TTM)6453.54
Shares Outstanding4,797,731
10 Day Avg. Volume11,312
30 Day Avg. Volume10,582
Financial Highlights & Ratios
PEG Ratio0.00
Price to Book (P/B)1.46
Price to Sales (P/S)8.18
P/FCF Ratio11.14
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
¥168,000.00Price Target Upside16.91% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)5,930.58
Revenue Forecast (FY)¥55.24B
GLP J-REIT Business Overview & Revenue Model
Company Description
GLP J-REIT operates as a real estate investment trust, specializing in advanced and highly functional logistics facilities. Founded by GLP Japan Advisors Inc. in accordance with Japan's Investment Trust Act, its units began trading on the Tokyo St...
How the Company Makes Money
GLP J-REIT makes money primarily by earning rental income from leasing its logistics properties to tenants under lease contracts. Revenue is driven by (1) base rent and any contractually defined rent escalations, (2) reimbursements and pass-throug...
GLP J-REIT Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
64
Positive
Cash Flow
58
Neutral
| Breakdown | TTM | Aug 2025 | Aug 2023 | Aug 2022 | Aug 2021 | Aug 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 59.58B | 80.83B | 54.32B | 48.15B | 50.08B | 40.30B |
| Gross Profit | 34.66B | 26.25B | 36.00B | 26.16B | 25.80B | 21.98B |
| EBITDA | 42.95B | 43.32B | 38.02B | 34.47B | 33.69B | 29.46B |
| Net Income | 31.11B | 31.11B | 27.16B | 24.98B | 22.68B | 20.61B |
Balance Sheet | ||||||
| Total Assets | 876.82B | 876.82B | 896.23B | 784.47B | 785.48B | 742.02B |
| Cash, Cash Equivalents and Short-Term Investments | 38.17B | 52.26B | 23.06B | 27.26B | 25.90B | 24.18B |
| Total Debt | 396.56B | 396.56B | 396.56B | 346.52B | 346.52B | 329.58B |
| Total Liabilities | 424.83B | 424.83B | 423.91B | 371.87B | 369.94B | 351.92B |
| Stockholders Equity | 451.99B | 451.99B | 472.32B | 412.60B | 415.54B | 390.10B |
Cash Flow | ||||||
| Free Cash Flow | 59.34B | 59.34B | -88.21B | 40.45B | -111.71B | -13.92B |
| Operating Cash Flow | 62.38B | 62.38B | 36.84B | 43.16B | 36.15B | 26.46B |
| Investing Cash Flow | -18.77B | -18.78B | -122.52B | -2.34B | -148.13B | -39.84B |
| Financing Cash Flow | -44.95B | -44.96B | 82.43B | -27.97B | 118.56B | 11.16B |
GLP J-REIT Technical Analysis
Neutral
143700.00
Price Trends
138012.00
Positive
136691.00
Positive
138673.40
Positive
Market Momentum
1503.91
Positive
49.41
Neutral
5.61
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:3281, the sentiment is Neutral. The current price of 143700 is above the 20-day moving average (MA) of 142910.00, above the 50-day MA of 138012.00, and above the 200-day MA of 138673.40, indicating a neutral trend. The MACD of 1503.91 indicates Positive momentum. The RSI at 49.41 is Neutral, neither overbought nor oversold. The STOCH value of 5.61 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for JP:3281.
GLP J-REIT Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | ¥271.57B | 21.75 | 8.89% | 3.87% | 18.49% | 18.14% | |
68 Neutral | ¥695.67B | 22.47 | ― | 4.76% | 29.96% | 8.18% | |
68 Neutral | ¥265.04B | 21.86 | 6.03% | 5.26% | 17.43% | 3.09% | |
68 Neutral | ¥760.05B | 25.55 | ― | 4.10% | 9.45% | 7.63% | |
64 Neutral | ¥184.88B | 24.23 | ― | 4.68% | -25.75% | -19.38% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
JP:3281
GLP J-REIT
141,500.00
11,924.34
9.20%
JP:3466
LaSalle LOGIPORT REIT
149,100.00
9,098.84
6.50%
JP:8967
Japan Logistics Fund
96,000.00
5,134.01
5.65%
JP:3283
Nippon Prologis REIT, Inc.
87,300.00
7,953.90
10.02%
JP:3471
Mitsui Fudosan Logistics Park, Inc.
106,200.00
6,058.09
6.05%
JP:3481
Mitsubishi Estate Logistics REIT Investment Corp.
120,000.00
2,811.73
2.40%
GLP J-REIT Corporate Events
GLP J-REIT Keeps Reduced Coupon on Sustainability-Linked 18th Bonds After Beating Green Targets
Jul 28, 2026
GLP J-REIT will maintain the interest rate on its ¥6 billion 18th Unsecured Bonds, which are designated as green sustainability-linked bonds, at 0.234% for the period from September 29, 2026 to September 28, 2027. This rate stays 5 basis poin...
GLP J-REIT Secures Negotiation Right for Osaka Logistics Hub
Jul 15, 2026
GLP J-REIT has secured a preferential negotiation right for the potential acquisition of Marq Osaka 3, a newly completed logistics facility in southern Osaka City, through its asset manager GLP Japan Advisors Inc. While the right does not obligate...
GLP J-REIT Raises FY2027 Earnings and Distribution Forecast After Portfolio Changes
Jul 15, 2026
GLP J-REIT has revised its forecast for the fiscal period ending February 28, 2027, projecting higher operating revenue, income, and net income than previously expected. Operating revenue is now forecast at ¥29.48 billion, up 4.5%, with net i...
GLP J-REIT Boosts DPU Outlook With Accretive Logistics Deals and Strategic Sale
Jul 15, 2026
GLP J-REIT has strengthened its logistics portfolio by agreeing to acquire three fully occupied, CPI-linked properties with strong growth potential for ¥40.7 billion, at a 4.2% NOI yield and a 7.7% discount to appraisal values. The acquisitio...
GLP J-REIT to acquire three logistics properties below appraisal to bolster growth
Jul 15, 2026
GLP J-REIT has approved the acquisition of trust beneficiary interests in three logistics properties, Marq Joso 2, ALFALINK Ibaraki 2 and Marq Hiroshima 2, for a total of 40,722 million yen, funded through new borrowing and cash on hand. The asset...
GLP J-REIT Secures ¥41 Billion in New Loans to Fund Logistics Portfolio Expansion
Jul 15, 2026
GLP J-REIT has arranged new short-term borrowings totaling ¥41 billion from Sumitomo Mitsui Banking Corporation, MUFG Bank and Mizuho Bank to support its latest expansion. The loans, largely unsecured and not guaranteed, carry interest linked...
GLP J-REIT Sells Logistics Asset to Unlock Gains and Boost Unitholder Returns
Jul 8, 2026
GLP J-REIT has decided to sell the trust beneficiary interest in the Tokyo-4 GLP Tomisato logistics property for 7,200 million yen, above its book value of 4,119 million yen. The transaction, set for delivery on February 26, 2027, will generate an...
GLP J-REIT Advances Unit Buyback Under Board-Approved Program
Jul 1, 2026
GLP J-REIT has continued repurchasing its own investment units, buying 16,341 units in June 2026 for approximately 2.18 billion yen through open-market transactions on the Tokyo Stock Exchange. The repurchases were executed under a discretionary a...
GLP J-REIT Sets Fixed Interest Rates on New Long-Term Loans
Jun 26, 2026
GLP J-REIT has set fixed interest rates on new term loans totaling 2.18 billion yen secured from regional banks Daishi Hokuetsu Bank and The Bank of Iwate. The loans, carrying fixed rates of 2.213% and 2.294% respectively, will be drawn on June 30...
GLP J-REIT refinances ¥26.2bn debt, extends loan maturities to 2032
Jun 18, 2026
GLP J-REIT has arranged new term loans totaling ¥26.2 billion to refinance existing borrowings maturing on 30 June 2026. The new unsecured loans, provided by syndicates led by Sumitomo Mitsui Banking Corporation, MUFG Bank and Mizuho Bank, wi...
GLP J-REIT Reports Progress on Investment Unit Buyback Program
Jun 1, 2026
GLP J-REIT has disclosed the progress of its ongoing buyback of investment units, repurchasing 13,776 units in May 2026 via open-market transactions on the Tokyo Stock Exchange for about 1.84 billion yen before fees and taxes. The repurchases, con...
GLP J-REIT Extends Debt Maturities With ¥2.18 Billion Refinancing
May 27, 2026
GLP J-REIT will refinance ¥2.18 billion of its existing short-term borrowings due on June 30, 2026 with new long-term loans from Daishi Hokuetsu Bank and The Bank of Iwate. The new loans, which will be unsecured and not guaranteed, will matur...
GLP J-REIT Unitholders Approve Governance Changes and Board Appointments
May 19, 2026
GLP J-REIT secured unitholder approval for all proposals at its 11th General Unitholders Meeting, underscoring continued support for its governance framework and strategy in the Japanese logistics real estate market. The REIT partially amended its...
GLP J-REIT Secures Preferential Right on Flagship Kansai Logistics Hub
May 15, 2026
GLP J-REIT’s asset manager GLP Japan Advisors has secured a preferential negotiation right for the potential acquisition of GLP ALFALINK Ibaraki 3, a large-scale logistics facility in Ibaraki City, Osaka, from bridge scheme provider Kitaosak...
GLP J-REIT Asset Manager Appoints New Part-Time Auditor
May 11, 2026
GLP Japan Advisors Inc., the asset management company for GLP J-REIT, announced a change in its governance structure with the appointment of Lam Chee Yang as a part-time auditor effective May 11, 2026, replacing retiring auditor Takayuki Kawanishi...
GLP J-REIT Asset Manager Appoints New Compliance Officer
May 11, 2026
GLP Japan Advisors Inc., the asset management company of GLP J-REIT, announced a change in its key personnel, appointing Takayuki Kawanishi as Compliance Officer effective May 11, 2026, succeeding outgoing Compliance Officer Junji Higashino. The c...
GLP J-REIT Advances Unit Buyback Under ¥13 Billion Repurchase Program
May 1, 2026
GLP J-REIT reported that it repurchased 4,304 of its own investment units in April 2026 for a total of about ¥594.7 million, executing the buyback through open-market transactions on the Tokyo Stock Exchange under a discretionary agreement wi...
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.