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AEON REIT Investment Corp. (JP:3292)
:3292
Japanese Market
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AEON REIT Investment Corp. (3292) AI Stock Analysis

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JP:3292

AEON REIT Investment Corp.

(3292)

Rating:70Outperform
Price Target:
¥139,040
▲(7.78%Upside)
AEON REIT Investment Corp. is performing well financially and has a stable balance sheet, which is the most significant factor. The valuation is fair with a strong dividend yield, appealing to income-focused investors. However, neutral technical indicators suggest a lack of strong market momentum, which is a secondary consideration.

AEON REIT Investment Corp. (3292) vs. iShares MSCI Japan ETF (EWJ)

AEON REIT Investment Corp. Business Overview & Revenue Model

Company DescriptionAEON REIT Investment Corporation (hereinafter, AEON REIT) invests primarily in retail and related properties which, as an integral part of the communities in which they are located, form the backbone of communities and their retail business infrastructure. Through said investment, we aim to ensure stable earnings over the medium to long term and achieve steady portfolio growth. AEON REIT was established on November 30, 2012, in accordance with the Act on Investment Trusts and Investment Corporations (Act No. 198 of 1951, as amended; hereinafter, the Investment Trusts Act), with AEON Reit Management Co., Ltd. (hereinafter, the Asset Manager) serving as the organizer. AEON REIT was listed on the Real Estate Investment Trust Securities Market (J-REIT market) of the Tokyo Stock Exchange (securities code: 3292) on November 22, 2013. In the fiscal period under review (15th fiscal period), AEON REIT acquired AEON MALL Tamadaira woods (acquisition price: ¥9,667 million) in February 2020 by using borrowings. The real estate held by AEON REIT as of July 31, 2020, totaled 42 properties in Japan and overseas, including AEON MALL SEREMBAN 2 it owns through an overseas real estate holding corporation established in Malaysia (hereinafter, the Overseas SPC), with a total acquisition price of ¥390,185 million. Total leasable area is 3,597,112.78 m2 and the occupancy rate of the entire portfolio is 100.0% as of the same date.
How the Company Makes MoneyAEON REIT Investment Corporation generates revenue primarily through rental income derived from its portfolio of retail properties. The company leases its properties to various tenants, including retail shops, restaurants, and service providers, who pay regular rent under long-term lease agreements. Additionally, the REIT benefits from the operational support and strategic partnerships with the AEON Group, which can enhance property management and attract high-quality tenants. The company also focuses on acquiring and developing new retail properties to expand its portfolio and increase its rental income potential. By maintaining high occupancy rates and optimizing lease agreements, AEON REIT seeks to achieve stable cash flows and provide attractive returns to its investors.

AEON REIT Investment Corp. Financial Statement Overview

Summary
AEON REIT Investment Corp. has demonstrated strong financial performance with solid profitability and efficient operations. While the revenue growth rate has slowed and leverage is moderately high, the company shows robust cash flow and a strong balance sheet.
Income Statement
82
Very Positive
AEON REIT Investment Corp. has shown solid financial performance with a stable revenue growth trend over the years. The Gross Profit Margin remains healthy, indicating efficient cost management. The Net Profit Margin is strong, showcasing profitability. While EBIT and EBITDA margins are robust, they reflect the company's operational efficiency. However, the revenue growth rate has slowed down in recent periods, which is a potential area of concern.
Balance Sheet
78
Positive
The company's balance sheet is strong, with a moderate Debt-to-Equity ratio reflecting reasonable leverage. Return on Equity is commendable, suggesting effective use of shareholders' equity. However, the Equity Ratio indicates that a substantial portion of assets is financed by debt, which could pose risks in economic downturns.
Cash Flow
74
Positive
The company's cash flow is stable with a positive Free Cash Flow. The Operating Cash Flow to Net Income Ratio indicates good cash conversion, though Free Cash Flow Growth has been inconsistent, reflecting fluctuations in capital expenditures. Despite these fluctuations, the overall cash generation remains strong.
BreakdownMar 2025Mar 2024Sep 2023Sep 2022Sep 2021
Income Statement
Total Revenue42.35B42.22B41.00B40.05B35.40B
Gross Profit16.12B18.08B17.91B17.47B15.54B
EBITDA26.40B25.88B25.89B25.29B22.44B
Net Income13.46B13.59B13.77B13.55B11.83B
Balance Sheet
Total Assets451.15B458.58B452.49B434.63B385.98B
Cash, Cash Equivalents and Short-Term Investments26.93B31.35B23.94B21.40B18.19B
Total Debt188.40B188.40B188.40B179.10B159.80B
Total Liabilities207.34B211.83B205.09B198.03B175.07B
Stockholders Equity243.81B246.75B247.39B236.61B210.91B
Cash Flow
Free Cash Flow24.03B21.58B-3.52B-28.58B13.18B
Operating Cash Flow24.03B25.64B22.11B25.29B21.74B
Investing Cash Flow-9.04B-3.85B-25.63B-53.04B-8.56B
Financing Cash Flow-16.92B-14.23B6.28B31.39B-12.04B

AEON REIT Investment Corp. Technical Analysis

Technical Analysis Sentiment
Positive
Last Price129000.00
Price Trends
50DMA
123821.42
Positive
100DMA
122772.71
Positive
200DMA
121377.14
Positive
Market Momentum
MACD
1393.86
Negative
RSI
80.61
Negative
STOCH
72.55
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:3292, the sentiment is Positive. The current price of 129000 is above the 20-day moving average (MA) of 124989.89, above the 50-day MA of 123821.42, and above the 200-day MA of 121377.14, indicating a bullish trend. The MACD of 1393.86 indicates Negative momentum. The RSI at 80.61 is Negative, neither overbought nor oversold. The STOCH value of 72.55 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:3292.

AEON REIT Investment Corp. Peers Comparison

Overall Rating
UnderperformOutperform
Sector (54)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
70
Outperform
¥271.23B20.32
5.23%0.69%-3.93%
54
Neutral
$1.19B3.64-0.79%6.02%-2.02%-153.39%
$5.38B22.285.50%5.19%
$5.03B22.945.46%4.75%
¥45.41B18.59
5.37%
72
Outperform
¥547.31B24.30
3.83%-17.31%15.83%
¥233.44B18.05
5.08%
* Real Estate Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
JP:3292
AEON REIT Investment Corp.
129,000.00
11,657.37
9.93%
JRFIF
Japan Retail Investment
733.34
158.08
27.48%
NMMRF
Nomura Real Estate Master
1,081.80
57.42
5.61%
JP:2971
ESCON JAPAN REIT Investment Corp.
125,600.00
21,584.27
20.75%
JP:8954
ORIX JREIT Inc.
198,300.00
60,196.72
43.59%
JP:8964
Frontier Real Estate Investment Corporation
86,300.00
8,938.38
11.55%

AEON REIT Investment Corp. Corporate Events

AEON REIT Announces Change in Specified Related Parties
Aug 1, 2025

AEON REIT Investment Corporation announced a change in its specified related parties, with KASUMI Co. Ltd. now classified as such due to significant transactions over the past three years. This change reflects the substantial real estate dealings between the Investment Corporation and KASUMI Co. Ltd., but it does not impact the company’s financial forecasts for the upcoming fiscal periods.

The most recent analyst rating on (JP:3292) stock is a Hold with a Yen147000.00 price target. To see the full list of analyst forecasts on AEON REIT Investment Corp. stock, see the JP:3292 Stock Forecast page.

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.Date of analysis: Jul 12, 2025