NIPPON REIT Investment Corp (JP:3296)
:3296
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NIPPON REIT Investment Corp
(3296)
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Rating:63Neutral
Price Target:
¥95,850.00
▼(-2.99% Downside)
Action:DowngradedDate:04/02/26
The score is driven by solid profitability but constrained by leverage and inconsistent free cash flow, while technical indicators show a clear downtrend. Valuation is a key offset with a low P/E and a strong dividend yield.
Positive Factors
High profitability and margins
Consistently high net margins (roughly 38%–52%) indicate durable operating efficiency for a REIT focused on income properties. Strong margins provide ongoing cash available for distributions and reinvestment, buffering earnings against moderate rent or occupancy swings over months.
Negative Factors
Meaningful leverage
Debt roughly equal to equity creates persistent sensitivity to interest-rate moves and refinancing cycles. Over a 2–6 month horizon this reduces capital flexibility, raises refinancing risk at maturity, and can amplify earnings volatility if funding costs rise materially.
Read all positive and negative factors
Positive Factors
Negative Factors
High profitability and margins
Consistently high net margins (roughly 38%–52%) indicate durable operating efficiency for a REIT focused on income properties. Strong margins provide ongoing cash available for distributions and reinvestment, buffering earnings against moderate rent or occupancy swings over months.
Read all positive factors
NIPPON REIT Investment Corp (3296) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥164.55B
Dividend Yield4.7%
Average Volume (3M)3.07K
Price to Earnings (P/E)6.6
Beta (1Y)0.24
Revenue Growth50.47%
EPS Growth26.45%
CountryJP
Employees2,628
SectorReal Estate
Sector Strength53
IndustryREIT - Diversified
Share Statistics
EPS (TTM)3760.00
Shares Outstanding1,830,330
10 Day Avg. Volume2,927
30 Day Avg. Volume3,072
Financial Highlights & Ratios
PEG Ratio0.62
Price to Book (P/B)1.23
Price to Sales (P/S)8.02
P/FCF Ratio16.30
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)4,742.31
Revenue Forecast (FY)¥18.89B
NIPPON REIT Investment Corp Business Overview & Revenue Model
Company Description
NIPPON REIT Investment Corporation focuses on income growth and stability by making full use of the characteristics as a diversified REIT, and endeavors to maximize unitholder value through conducting dynamic and timely investments and acting in t...
How the Company Makes Money
NIPPON REIT Investment Corp makes money mainly by earning rental-related income from the real estate properties it owns. Its core revenue stream is lease revenue (tenant rents) generated by operating income-producing properties; this is supplement...
NIPPON REIT Investment Corp Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
64
Positive
Cash Flow
58
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 46.95B | 19.83B | 17.69B | 20.28B | 19.45B | 18.79B |
| Gross Profit | 14.90B | 12.98B | 10.87B | 9.43B | 13.31B | 12.58B |
| EBITDA | 16.45B | 12.61B | 10.63B | 10.90B | 13.00B | 12.31B |
| Net Income | 12.73B | 9.66B | 7.75B | 7.74B | 10.19B | 9.59B |
Balance Sheet | ||||||
| Total Assets | 281.14B | 274.66B | 275.46B | 275.41B | 276.58B | 277.19B |
| Cash, Cash Equivalents and Short-Term Investments | 22.91B | 15.29B | 10.25B | 20.15B | 9.80B | 10.25B |
| Total Debt | 135.43B | 132.62B | 132.62B | 132.62B | 132.62B | 132.62B |
| Total Liabilities | 147.49B | 145.18B | 144.86B | 145.02B | 144.71B | 145.21B |
| Stockholders Equity | 133.65B | 129.48B | 130.61B | 130.39B | 131.87B | 131.98B |
Cash Flow | ||||||
| Free Cash Flow | 7.65B | 9.76B | 3.80B | 11.99B | 10.52B | 5.04B |
| Operating Cash Flow | 48.54B | 29.91B | 18.10B | 12.96B | 19.28B | 25.57B |
| Investing Cash Flow | -41.02B | -20.59B | -14.13B | -1.62B | -8.88B | -20.88B |
| Financing Cash Flow | -5.74B | -11.10B | -6.24B | -7.73B | -10.11B | -3.83B |
NIPPON REIT Investment Corp Technical Analysis
Negative
98800.00
Price Trends
93540.00
Negative
95925.31
Negative
94470.28
Negative
Market Momentum
-975.51
Negative
42.22
Neutral
66.67
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:3296, the sentiment is Negative. The current price of 98800 is above the 20-day moving average (MA) of 90935.00, above the 50-day MA of 93540.00, and above the 200-day MA of 94470.28, indicating a bearish trend. The MACD of -975.51 indicates Negative momentum. The RSI at 42.22 is Neutral, neither overbought nor oversold. The STOCH value of 66.67 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:3296.
NIPPON REIT Investment Corp Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | ¥587.00B | 9.78 | ― | 4.28% | 27.21% | 39.13% | |
73 Outperform | ¥671.31B | 10.14 | 5.51% | 4.64% | 24.10% | -30.38% | |
66 Neutral | ¥407.66B | 21.18 | 7.08% | 3.74% | 78.62% | 28.76% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
63 Neutral | ¥164.55B | 6.57 | ― | 4.70% | 50.47% | 26.45% | |
63 Neutral | ¥560.64B | 23.41 | 6.80% | 4.46% | 52.74% | 14.88% | |
63 Neutral | ¥261.77B | 11.18 | ― | 4.15% | -0.15% | -2.63% |
* Real Estate Sector Average
JP:3296
NIPPON REIT Investment Corp
89,900.00
10,295.34
12.93%
JP:8955
Japan Prime Realty Investment
100,700.00
16,007.15
18.90%
JP:8960
United Urban Investment
174,600.00
33,089.17
23.38%
JP:8972
Kenedix Office Investment Corporation
166,200.00
25,141.64
17.82%
JP:3234
Mori Hills Reit Investment Corporation
136,600.00
9,397.75
7.39%
JP:8984
Daiwa House REIT Investment Corporation
129,300.00
16,059.45
14.18%
NIPPON REIT Investment Corp Corporate Events
NIPPON REIT Secures ¥9.6 Billion Syndicated Loans to Refinance Maturing Debt
Apr 2, 2026
NIPPON REIT Investment Corporation has arranged a new syndicated loan package totaling ¥9.6 billion with major Japanese banks, including MUFG Bank, Mizuho Bank and Sumitomo Mitsui Banking Corporation. The borrowings are unsecured, carry float...
NIPPON REIT Slightly Lowers Acquisition Price for FORECAST Yokkaichi Office Asset
Mar 31, 2026
NIPPON REIT Investment Corporation has revised the acquisition price of its office asset FORECAST Yokkaichi, which it acquired on January 14, 2026, lowering the consideration from ¥3,531,500,000 to ¥3,522,300,000. The adjustment stems fr...
NIPPON REIT Completes Tokyo Office Asset Swap With Mitsubishi Estate
Mar 30, 2026
NIPPON REIT Investment Corporation has completed the previously announced transfer of the Kudankita 325 Building in Chiyoda-ku, Tokyo, to Mitsubishi Estate Co., Ltd. for 2,740 million yen. At the same time, it finalized the acquisition of the CIRC...
NIPPON REIT Finalizes Third-Party Allotment of 2,950 New Units
Mar 24, 2026
NIPPON REIT Investment Corporation has finalized the issuance of 2,950 new investment units via a third-party allotment to its lead manager, raising ¥263.29 million at ¥89,252 per unit. Following the transaction, total units outstanding ...
NIPPON REIT Corrects Investor Presentation for 27th Period
Mar 19, 2026
NIPPON REIT Investment Corporation has issued a correction to its Investor Presentation for the 27th period, originally released on March 10, 2026. The revision concerns data on page 65 relating to historical unit prices and the breakdown of unith...
NIPPON REIT Outlines FY2025 Results and Multi-Period Growth Strategy
Mar 11, 2026
NIPPON REIT Investment Corporation released an investor presentation covering financial results for the 27th period ended December 31, 2025, along with forecasts for the 28th and 29th periods through December 2026. The materials outline historical...
NIPPON REIT Locks In Loan Costs With New Interest Rate Swap
Mar 4, 2026
NIPPON REIT Investment Corporation has entered into an interest rate swap agreement with Nomura Securities to fix the interest rate on a ¥3.21 billion portion of previously announced borrowings. By swapping a floating JBA 6‑month yen TI...
NIPPON REIT Sets Terms for Unit Offering to Fund Property Acquisitions
Feb 25, 2026
NIPPON REIT Investment Corporation has set the terms for a new issuance and secondary offering of its investment units, approving a public offering of 59,000 units at an issue amount of 89,252 yen per unit and an offer price of 92,527 yen, alongsi...
NIPPON REIT Corrects Data in Past Investor Presentations
Feb 18, 2026
NIPPON REIT Investment Corporation has announced partial corrections to its investor presentation materials for the 24th, 25th, and 26th fiscal periods after discovering errors in previously disclosed data. The revisions affect information on offi...
NIPPON REIT Adds Equity Funding to CIRCLES Nihonbashi Hamacho Acquisition
Feb 18, 2026
NIPPON REIT Investment Corporation has revised the planned funding structure for its acquisition of the CIRCLES Nihonbashi Hamacho property in Japan. Instead of relying solely on proceeds from a property transfer and available cash, the REIT will ...
NIPPON REIT to Acquire ¥15.4 Billion in New Properties, Expands Hotel Portfolio
Feb 18, 2026
NIPPON REIT Investment Corporation has agreed to acquire four real estate trust beneficiary interests in Japan, including a residential property in Tokyo, two hotel assets in Tokyo and Osaka, and leasehold land for a commercial property in Saitama...
NIPPON REIT Secures ¥5.82 Billion in Loans to Finance New Property Acquisitions
Feb 18, 2026
NIPPON REIT Investment Corporation has arranged up to ¥5.82 billion in new syndicated loans led by MUFG Bank, with Mizuho Bank, Sumitomo Mitsui Banking Corporation and other major lenders participating. The unsecured, unguaranteed borrowings,...
NIPPON REIT Raises June 2026 Earnings Forecast and Sets Outlook for December 2026
Feb 18, 2026
NIPPON REIT Investment Corporation has revised upward its forecast for the fiscal period ending June 2026, projecting operating revenue of ¥10.08 billion and net income of ¥4.90 billion, with distribution per unit rising about 7.7% to &#...
NIPPON REIT to Raise Capital via 59,000-Unit Public Offering on TSE
Feb 18, 2026
NIPPON REIT Investment Corporation has approved a primary public offering of 59,000 new investment units, with final pricing to be set between February 25 and March 2, 2026, based on a 0.90–1.00 multiple of the Tokyo Stock Exchange closing p...
NIPPON REIT Lifts Earnings and Distributions but Flags Weaker 2026 Outlook
Feb 18, 2026
NIPPON REIT Investment Corporation reported solid results for the fiscal period ended December 31, 2025, with operating revenues rising 5.8% to ¥11.65 billion and net income up 9.4% to ¥6.65 billion, reflecting improved profitability and...
NIPPON REIT Completes Acquisition of Two Japanese Properties Backed by New Appraisals
Jan 14, 2026
NIPPON REIT Investment Corporation has completed the acquisition of two Japanese real estate trust beneficiary interests: the office property FORECAST Yokkaichi in Yokkaichi City, Mie Prefecture, and the mixed-use property innoba Ota in Tokyo̵...
NIPPON REIT Completes Transfer of Tokyo Office Asset FORECAST Sakurabashi
Jan 13, 2026
NIPPON REIT Investment Corporation has completed the transfer of its trust beneficiary interest in the office property FORECAST Sakurabashi, located in Chuo-ku, Tokyo, to a domestic special purpose company established for the acquisition. While th...
NIPPON REIT Extends ¥3 Billion Commitment Line by One Year
Jan 9, 2026
NIPPON REIT Investment Corporation has extended the maturity of its existing ¥3 billion unsecured, unguaranteed syndication-type commitment line by one year, from January 13, 2027 to January 13, 2028, under an agreement originally signed in D...
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.