GLP J-REIT (JP:3281)
:3281
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GLP J-REIT
(3281)
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Rating:68Neutral
Price Target:
¥152,382
▲(9.00% Upside)
Action:N/ADate: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
¥645.29B
Dividend Yield4.86%
Average Volume (3M)10.58K
Price to Earnings (P/E)21.3
Beta (1Y)0.12
Revenue GrowthN/A
EPS GrowthN/A
CountryJP
Employees44,000
SectorReal Estate
Sector Strength53
IndustryREIT - Industrial
Share Statistics
EPS (TTM)3347.00
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 TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)5,579.14
Revenue Forecast (FY)¥50.60B
GLP J-REIT Business Overview & Revenue Model
Company Description
GLP J-REIT is a real estate investment corporation (J-REIT) specializing in logistics facilities, and it primarily invests in modern logistics facilities. GLP J-REIT was founded in accordance with the Act on Investment Trusts and Investment Corpor...
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 Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | ¥271.29B | 19.83 | 5.78% | 5.26% | 12.81% | 1.32% | |
68 Neutral | ¥645.29B | 21.26 | ― | 4.86% | ― | ― | |
66 Neutral | ¥271.05B | 10.83 | 8.18% | 3.87% | 27.77% | 14.16% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
64 Neutral | ¥192.16B | 12.06 | ― | 4.68% | 22.29% | 0.88% | |
63 Neutral | ¥748.31B | 25.28 | ― | 4.10% | 12.04% | 12.83% |
* Real Estate Sector Average
JP:3281
GLP J-REIT
134,500.00
16,435.83
13.92%
JP:3466
LaSalle LOGIPORT REIT
156,200.00
23,997.83
18.15%
JP:8967
Japan Logistics Fund
98,700.00
10,211.22
11.54%
JP:3283
Nippon Prologis REIT, Inc.
89,200.00
13,888.88
18.44%
JP:3471
Mitsui Fudosan Logistics Park, Inc.
117,700.00
22,590.46
23.75%
JP:3481
Mitsubishi Estate Logistics REIT Investment Corp.
129,400.00
19,864.84
18.14%
GLP J-REIT Corporate Events
GLP J-REIT Fixes Terms on ¥1.5 Billion Long-Term Loan from Mizuho Bank
Feb 25, 2026
GLP J-REIT has set the interest rate terms on a previously announced new borrowing of 1.5 billion yen from Mizuho Bank, converting it into an effectively fixed-rate loan via an interest rate swap. The borrowing, which runs from February 27, 2026 t...
GLP J-REIT Adjusts Sixth Preferred Securities Investment for GLP Narashino II Project
Feb 20, 2026
GLP J-REIT will acquire the sixth tranche of preferred securities issued by Acacia Special Purpose Company for 158 million yen, using cash on hand, as part of its ongoing investment structure tied to the GLP Narashino II redevelopment project. The...
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
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