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Ichigo Hotel REIT Investment Corp.
(3463)
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Rating:56Neutral
Price Target:
¥115,051
▼(-6.00% Downside)
Action:Reiterated
Date:08/04/26
The score is primarily held back by financial variability (notably the 2026 revenue decline and negative/volatile free cash flow) alongside weak technical signals. These risks are partly offset by a moderate P/E and a high dividend yield that improve the valuation profile.
Positive Factors
High profitability margins
Sustained high gross and net margins indicate the portfolio is generating strong property-level yields and pricing power versus operating costs. That margin buffer supports distributions and internal reinvestment even if revenue softens, aiding multi-month resilience.
Negative Factors
Sharp 2026 revenue decline
A large year-over-year revenue drop signals either weaker occupancy/room rates, tenant performance, or portfolio changes. Such a reduction materially pressures rental receipts and distribution capacity, making cash flow and coverage ratios more sensitive over the coming months.
Read all positive and negative factors
Positive Factors
Negative Factors
High profitability margins
Sustained high gross and net margins indicate the portfolio is generating strong property-level yields and pricing power versus operating costs. That margin buffer supports distributions and internal reinvestment even if revenue softens, aiding multi-month resilience.
Read all positive factors
Ichigo Hotel REIT Investment Corp. (3463) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥37.33B
Dividend Yield6.76%
Average Volume (3M)1.24K
Price to Earnings (P/E)13.7
Beta (1Y)0.33
Revenue Growth-19.18%
EPS Growth-36.63%
CountryJP
EmployeesN/A
SectorReal Estate
Sector Strength53
IndustryREIT - Hotel & Motel
Share Statistics
EPS (TTM)8343.41
Shares Outstanding327,489
10 Day Avg. Volume1,050
30 Day Avg. Volume1,241
Financial Highlights & Ratios
PEG Ratio-0.40
Price to Book (P/B)0.98
Price to Sales (P/S)6.63
P/FCF Ratio-15.32
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
Ichigo Hotel REIT Investment Corp. Business Overview & Revenue Model
Company Description
Ichigo Hotel REIT Investment Corporation, known as Ichigo Hotel REIT, commenced trading on the J-REIT section of the Tokyo Stock Exchange on November 30, 2015. Its distinctive name, "Ichigo," draws inspiration from the venerable Japanese proverb "...
How the Company Makes Money
Ichigo Hotel REIT Investment Corp. makes money primarily by earning real estate income from the hotel properties it owns. Its key revenue stream is rental and lease-related income paid by hotel operators/tenants under lease agreements (often struc...
Ichigo Hotel REIT Investment Corp. Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
58
Neutral
Cash Flow
44
Neutral
| Breakdown | Jul 2025 | Jul 2024 | Jul 2023 | Jul 2023 | Jul 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 6.07B | 7.67B | 4.72B | 3.33B | 2.37B |
| Gross Profit | 4.22B | 7.67B | 3.29B | 2.18B | 1.27B |
| EBITDA | 4.41B | 6.30B | 3.22B | 2.26B | 1.64B |
| Net Income | 2.73B | 4.31B | 1.97B | 1.29B | 704.49M |
Balance Sheet | |||||
| Total Assets | 81.29B | 78.37B | 74.94B | 59.04B | 59.36B |
| Cash, Cash Equivalents and Short-Term Investments | 7.11B | 6.05B | 1.55B | 1.65B | 4.58B |
| Total Debt | 38.02B | 32.47B | 32.47B | 25.47B | 26.34B |
| Total Liabilities | 40.24B | 35.36B | 34.24B | 26.72B | 27.40B |
| Stockholders Equity | 41.05B | 43.01B | 40.69B | 32.32B | 31.96B |
Cash Flow | |||||
| Free Cash Flow | -2.63B | 10.10B | -13.09B | -840.15M | 411.75M |
| Operating Cash Flow | 10.67B | 10.10B | 2.42B | 2.21B | 1.54B |
| Investing Cash Flow | -13.29B | -3.20B | -15.30B | -3.03B | -1.16B |
| Financing Cash Flow | 862.05M | -1.97B | 13.38B | -931.68M | -611.61M |
Ichigo Hotel REIT Investment Corp. Technical Analysis
Negative
122400.00
Price Trends
112821.22
Negative
111446.69
Negative
115967.47
Negative
Market Momentum
-220.71
Positive
30.51
Neutral
2.20
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:3463, the sentiment is Negative. The current price of 122400 is above the 20-day moving average (MA) of 116433.24, above the 50-day MA of 112821.22, and above the 200-day MA of 115967.47, indicating a bearish trend. The MACD of -220.71 indicates Positive momentum. The RSI at 30.51 is Neutral, neither overbought nor oversold. The STOCH value of 2.20 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:3463.
Ichigo Hotel REIT Investment Corp. Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | ¥142.94B | 18.92 | ― | 4.18% | 44.46% | 34.92% | |
68 Neutral | ¥483.74B | 15.28 | 9.53% | 6.22% | 36.09% | 41.80% | |
67 Neutral | ¥80.82B | 5.92 | ― | ― | 70.29% | 345.92% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
56 Neutral | ¥37.33B | 13.66 | ― | 6.82% | -19.18% | -36.63% |
* Real Estate Sector Average
JP:3463
Ichigo Hotel REIT Investment Corp.
109,500.00
-16,474.21
-13.08%
JP:8985
Japan Hotel Reit Investment
80,900.00
2,739.49
3.50%
JP:3287
Hoshino Resorts REIT, Inc.
239,800.00
-15,601.73
-6.11%
JP:3290
One REIT. Inc.
77,300.00
-8,815.23
-10.24%
JP:3472
Nippon Hotel & Residential Investment Corporation
65,300.00
-8,566.67
-11.60%
JP:3479
TKP Corp
1,938.00
-4.00
-0.21%
Ichigo Hotel REIT Investment Corp. Corporate Events
Ichigo Hotel REIT Completes Sale of Tokyo Livemax Property
Jul 30, 2026
Ichigo Hotel REIT has completed the previously announced sale of the Hotel Livemax Nihombashi-Hakozaki in Tokyo, transferring its trust beneficiary interest in the property. The deal, contracted on May 15, 2026, closed on July 30, 2026 at a sale p...
Ichigo Hotel REIT Posts Softer June 2026 Hotel Earnings on Weaker Demand
Jul 27, 2026
Ichigo Hotel REIT reported weaker operating metrics for June 2026 across most of its hotel portfolio, with revenue, RevPAR, occupancy and ADR all declining year on year for the 24 hotels in operation. Variable-rent properties saw the sharpest drop...
Ichigo Hotel REIT Sees Revenue and RevPAR Declines as Variable Rent Hotels Weigh on Results
Jun 25, 2026
Ichigo Hotel REIT reported weaker operating metrics for May 2026, as portfolio revenue for 24 operating hotels declined 3.3% year-on-year, with RevPAR down 3.6% and occupancy slipping to 84.3%, while ADR eased 0.8%. Variable rent hotels were the m...
Ichigo Hotel REIT Sees April Revenue Drop on Weaker Occupancy and Renovations
May 25, 2026
Ichigo Hotel REIT reported weaker operating metrics for April 2026, with portfolio revenue for 24 operating hotels falling 7.8% year-on-year and RevPAR down 8.3%, driven by lower occupancy and average daily rates. Variable rent hotels were the mai...
Ichigo Hotel REIT Sells Tokyo Property to Fund Higher-Growth Investments
May 15, 2026
Ichigo Hotel REIT Investment Corporation has agreed to sell the lodging-focused Hotel Livemax Nihombashi-Hakozaki in Tokyo, a 2015-built property it acquired in 2016, for JPY 1.58 billion to an undisclosed Japanese buyer. The sale price represents...
Ichigo Hotel REIT Lifts July 2026 Earnings Outlook on Asset Sale Gain
May 15, 2026
Ichigo Hotel REIT has raised its earnings forecast for the July 2026 fiscal period, projecting higher operating revenue, profit, and net income than previously announced. The REIT now expects net income of JPY 1,167 million and a dividend of JPY 3...
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.