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Mitsubishi Estate Logistics REIT Investment Corp.
(3481)
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Rating:64Neutral
Price Target:
¥130,540
▼(-1.78% Downside)
Action:Reiterated
Date:08/04/26
The score is primarily supported by solid profitability and a stable balance sheet, but is held back by weak free cash flow conversion and negative recent revenue growth. Technical signals are mixed/neutral, and while the dividend yield is attractive, the relatively high P/E limits the valuation contribution.
Positive Factors
Profitability and margins
Robust EBIT/EBITDA and steady profit margins indicate efficient property-level operations and cost control. For a logistics REIT this suggests durable income generation from leases, supporting distributions and resilience across typical real estate cycles over the next 2-6 months.
Negative Factors
Negative recent revenue growth
A ~25.8% decline in reported revenue is a structural concern for a REIT reliant on rental income. Sustained top-line contraction can reduce distributable cash, constrain reinvestment, and pressure tenant lease negotiations, weakening income stability over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Profitability and margins
Robust EBIT/EBITDA and steady profit margins indicate efficient property-level operations and cost control. For a logistics REIT this suggests durable income generation from leases, supporting distributions and resilience across typical real estate cycles over the next 2-6 months.
Read all positive factors
Mitsubishi Estate Logistics REIT Investment Corp. (3481) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥177.76B
Dividend Yield4.73%
Average Volume (3M)3.39K
Price to Earnings (P/E)23.3
Beta (1Y)0.26
Revenue Growth-25.75%
EPS Growth-19.38%
CountryJP
EmployeesN/A
SectorReal Estate
Sector Strength53
IndustryREIT - Industrial
Share Statistics
EPS (TTM)5138.94
Shares Outstanding1,485,011
10 Day Avg. Volume3,202
30 Day Avg. Volume3,389
Financial Highlights & Ratios
PEG Ratio24.33
Price to Book (P/B)1.18
Price to Sales (P/S)10.75
P/FCF Ratio82.53
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)5,162.91
Revenue Forecast (FY)¥16.19B
Mitsubishi Estate Logistics REIT Investment Corp. Business Overview & Revenue Model
Company Description
Mitsubishi Estate Logistics REIT (MEL), specializing in logistics property investments, operates under the sponsorship of Mitsubishi Estate Co., Ltd. (MEC), one of Japan's preeminent comprehensive developers....
How the Company Makes Money
The REIT makes money primarily by acquiring logistics properties and leasing them to tenants under lease agreements, generating rental revenue as its core income stream. Earnings are driven by (1) base rent collected from tenants, typically under ...
Mitsubishi Estate Logistics REIT Investment Corp. Financial Statement Overview
Summary
Income Statement
75
Positive
Balance Sheet
70
Positive
Cash Flow
60
Neutral
| Breakdown | TTM | Aug 2025 | Aug 2024 | Aug 2023 | Aug 2022 | Aug 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 12.66B | 17.15B | 16.91B | 14.66B | 11.31B | 9.16B |
| Gross Profit | 9.24B | 11.55B | 11.36B | 9.43B | 7.34B | 5.86B |
| EBITDA | 11.36B | 12.12B | 11.91B | 10.01B | 7.79B | 6.37B |
| Net Income | 7.67B | 8.60B | 8.55B | 6.94B | 5.52B | 4.45B |
Balance Sheet | ||||||
| Total Assets | 287.52B | 287.60B | 282.35B | 271.36B | 228.17B | 181.21B |
| Cash, Cash Equivalents and Short-Term Investments | 14.63B | 4.43B | 4.68B | 4.49B | 4.24B | 4.67B |
| Total Debt | 122.35B | 122.72B | 113.05B | 103.18B | 82.07B | 59.27B |
| Total Liabilities | 131.48B | 131.21B | 121.94B | 111.49B | 88.55B | 64.80B |
| Stockholders Equity | 156.04B | 156.38B | 160.41B | 159.87B | 139.62B | 116.41B |
Cash Flow | ||||||
| Free Cash Flow | 846.28M | 2.23B | -1.40B | -34.22B | -39.65B | -51.87B |
| Operating Cash Flow | 10.55B | 13.94B | 15.29B | 12.20B | 6.91B | 6.08B |
| Investing Cash Flow | -10.10B | -12.05B | -16.34B | -45.47B | -46.10B | -56.45B |
| Financing Cash Flow | -2.69B | -2.96B | 1.85B | 34.24B | 40.33B | 54.12B |
Mitsubishi Estate Logistics REIT Investment Corp. Technical Analysis
Negative
132900.00
Price Trends
120660.00
Negative
122651.00
Negative
125096.15
Negative
Market Momentum
-198.84
Positive
39.96
Neutral
10.38
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:3481, the sentiment is Negative. The current price of 132900 is above the 20-day moving average (MA) of 122830.00, above the 50-day MA of 120660.00, and above the 200-day MA of 125096.15, indicating a bearish trend. The MACD of -198.84 indicates Positive momentum. The RSI at 39.96 is Neutral, neither overbought nor oversold. The STOCH value of 10.38 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:3481.
Mitsubishi Estate Logistics REIT Investment Corp. Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | ¥261.96B | 21.07 | 8.89% | 3.87% | 18.49% | 18.14% | |
68 Neutral | ¥257.92B | 21.27 | 6.03% | 5.26% | 17.43% | 3.09% | |
68 Neutral | ¥666.88B | 21.54 | ― | 4.76% | 29.96% | 8.18% | |
68 Neutral | ¥729.01B | 24.50 | ― | 4.10% | 9.45% | 7.63% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
64 Neutral | ¥177.76B | 23.29 | ― | 4.68% | -25.75% | -19.38% |
* Real Estate Sector Average
JP:3481
Mitsubishi Estate Logistics REIT Investment Corp.
119,700.00
2,320.41
1.98%
JP:3466
LaSalle LOGIPORT REIT
148,500.00
8,784.19
6.29%
JP:8967
Japan Logistics Fund
95,400.00
4,629.55
5.10%
JP:3281
GLP J-REIT
139,000.00
7,807.02
5.95%
JP:3283
Nippon Prologis REIT, Inc.
86,900.00
5,733.16
7.06%
JP:3471
Mitsui Fudosan Logistics Park, Inc.
106,000.00
5,763.00
5.75%
Mitsubishi Estate Logistics REIT Investment Corp. Corporate Events
Mitsubishi Estate Logistics REIT Buys Prime Osaka Warehouse Below Appraisal
Jul 22, 2026
Mitsubishi Estate Logistics REIT Investment Corporation will acquire the trust beneficiary interest in MJ Logipark Daito 1, a modern logistics facility in Daito, Osaka, for ¥3.115 billion, below its ¥3.99 billion appraisal value and at a...
Mitsubishi Estate Logistics REIT Secures ¥1.63 Billion Debt to Fund New Logistics Asset
Jul 22, 2026
Mitsubishi Estate Logistics REIT Investment Corporation has arranged new debt financing totaling ¥1.63 billion from Mizuho Bank and MUFG Bank. The package comprises a ¥130 million short-term, unsecured borrowing and a ¥1.5 billion l...
Mitsubishi Estate Logistics REIT Issues ¥2.2 Billion Green Bonds to Refinance Loans
Jul 10, 2026
Mitsubishi Estate Logistics REIT Investment Corporation will issue its 3rd series unsecured green bonds totaling ¥2.2 billion, with a fixed annual interest rate of 1.886% and maturity in July 2029, carrying an AA rating from Japan Credit Rati...
Mitsubishi Estate Logistics REIT Revamps Auditor Role and Adds Growth-Focused Executive
May 14, 2026
Mitsubishi Estate Logistics REIT Investment Corporation announced governance and management changes at its asset management company, Mitsubishi Jisho Investment Advisors, Inc., including the planned appointment of Kojiro Yoshizu as a part-time aud...
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.