Japan Real Estate Investment Corp. (JP:8952)
:8952
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Japan Real Estate Investment
(8952)
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Rating:66Neutral
Price Target:
¥119,988
▼(-6.48% Downside)
Action:Downgraded
Date:12/11/25
The stock's overall score is driven by strong financial performance, despite cash flow volatility and modest returns on equity. Technical indicators suggest weak momentum, while valuation metrics indicate potential overvaluation, balanced by a decent dividend yield.
Positive Factors
Revenue Growth & Margins
A 23.08% revenue rise and healthy gross and net margins indicate durable demand for leased space and effective cost control. Over the next 2–6 months this supports stable distributable income, funds necessary capex, and underpins the REIT’s ability to sustain payouts without relying on asset sales.
Negative Factors
Free Cash Flow Volatility
Volatile free cash flow reduces predictability of distributable cash and constrains the REIT’s ability to invest or pay down debt. Persistent FCF swings can force reliance on external financing or asset sales for liquidity, increasing financial risk and limiting strategic flexibility.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth & Margins
A 23.08% revenue rise and healthy gross and net margins indicate durable demand for leased space and effective cost control. Over the next 2–6 months this supports stable distributable income, funds necessary capex, and underpins the REIT’s ability to sustain payouts without relying on asset sales.
Read all positive factors
Japan Real Estate Investment (8952) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥827.41B
Dividend Yield3.83%
Average Volume (3M)14.19K
Price to Earnings (P/E)22.2
Beta (1Y)0.18
Revenue Growth-4.44%
EPS Growth-3.43%
CountryJP
EmployeesN/A
SectorReal Estate
Sector Strength53
IndustryREIT - Office
Share Statistics
EPS (TTM)5118.04
Shares Outstanding7,283,580
10 Day Avg. Volume14,546
30 Day Avg. Volume14,186
Financial Highlights & Ratios
PEG Ratio-11.20
Price to Book (P/B)1.63
Price to Sales (P/S)8.57
P/FCF Ratio30.34
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)5,370.28
Revenue Forecast (FY)¥73.87B
Japan Real Estate Investment Business Overview & Revenue Model
Company Description
JRE's investment strategy focuses on a defined set of assets, primarily comprising direct real estate holdings and securities predominantly linked to real estate, with the goal of achieving consistent value growth over the medium to long term....
How the Company Makes Money
The REIT makes money primarily by earning rental income from tenants in the properties it owns. Revenue is generated through (1) base rent and additional rents (where applicable) collected under lease agreements, and (2) recoveries/charges billed ...
Japan Real Estate Investment Financial Statement Overview
Summary
Income Statement
85
Very Positive
Balance Sheet
78
Positive
Cash Flow
70
Positive
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 100.94B | 103.38B | 84.00B | 75.89B | 73.75B | 71.75B |
| Gross Profit | 26.55B | 28.69B | 41.83B | 35.72B | 35.49B | 35.47B |
| EBITDA | 52.40B | 52.39B | 53.40B | 47.55B | 47.75B | 47.68B |
| Net Income | 36.41B | 36.67B | 37.48B | 33.24B | 32.84B | 32.43B |
Balance Sheet | ||||||
| Total Assets | 1.12T | 1.08T | 1.07T | 1.06T | 1.01T | 1.00T |
| Cash, Cash Equivalents and Short-Term Investments | 32.86B | 29.47B | 23.26B | 29.09B | 20.47B | 37.57B |
| Total Debt | 503.19B | 461.19B | 457.89B | 450.19B | 423.39B | 419.49B |
| Total Liabilities | 578.66B | 533.79B | 528.13B | 518.89B | 491.21B | 487.14B |
| Stockholders Equity | 543.57B | 542.83B | 541.42B | 538.40B | 517.76B | 516.45B |
Cash Flow | ||||||
| Free Cash Flow | 4.96B | 29.19B | 25.33B | -4.67B | 11.73B | 46.54B |
| Operating Cash Flow | 67.86B | 67.79B | 72.51B | 59.89B | 68.59B | 49.98B |
| Investing Cash Flow | -60.72B | -37.05B | -51.20B | -64.73B | -58.61B | -3.41B |
| Financing Cash Flow | -7.05B | -31.96B | -26.76B | 14.17B | -27.62B | -30.83B |
Japan Real Estate Investment Technical Analysis
Negative
128300.00
Price Trends
116726.00
Negative
120149.53
Negative
122860.98
Negative
Market Momentum
-583.78
Negative
46.75
Neutral
50.95
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:8952, the sentiment is Negative. The current price of 128300 is above the 20-day moving average (MA) of 113300.00, above the 50-day MA of 116726.00, and above the 200-day MA of 122860.98, indicating a neutral trend. The MACD of -583.78 indicates Negative momentum. The RSI at 46.75 is Neutral, neither overbought nor oversold. The STOCH value of 50.95 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:8952.
Japan Real Estate Investment Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | ¥135.97B | 17.58 | ― | 6.26% | -17.50% | -15.10% | |
71 Outperform | ¥517.78B | 19.19 | ― | 4.10% | 5.25% | 19.44% | |
66 Neutral | ¥827.41B | 22.21 | 6.59% | 3.83% | -4.44% | -3.43% | |
66 Neutral | ¥1.07T | 24.59 | 5.94% | 3.40% | -14.70% | -7.58% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
64 Neutral | ¥217.44B | 18.01 | ― | 4.63% | 19.76% | 7.95% | |
62 Neutral | ¥297.72B | 20.70 | ― | 3.94% | 30.30% | -25.37% |
* Real Estate Sector Average
JP:8952
Japan Real Estate Investment
113,100.00
-1,638.69
-1.43%
JP:8951
Nippon Building
122,400.00
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151,400.00
2,980.25
2.01%
JP:8954
ORIX JREIT Inc.
94,900.00
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Ichigo Office REIT Investment Corporation
90,800.00
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Daiwa Office Investment Corporation
319,500.00
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4.56%
Japan Real Estate Investment Corporate Events
Japan Real Estate Investment Posts Higher Earnings and Steady Payouts for March 2026 Period
May 19, 2026
Japan Real Estate Investment Corporation reported a solid performance for the fiscal period ended March 31, 2026, with operating revenues rising 3.3% to ¥42.4 billion and profit increasing 4.5% to ¥18.6 billion. Key profitability metrics...
Japan Real Estate Investment Sells Niigata Office to Recycle Capital and Strengthen Portfolio
May 15, 2026
Japan Real Estate Investment Corporation will dispose of the Daido Seimei Niigata Building for JPY 1,650 million, booking an estimated gain of JPY 40 million as the price exceeds the property’s book value, though it falls below the latest ap...
Japan Real Estate Investment Approves Up to JPY 100 Billion in Unsecured Bond Issuance
May 15, 2026
Japan Real Estate Investment Corporation has approved a comprehensive resolution authorizing the issuance of up to JPY 100 billion in unsecured investment corporation bonds between May 15 and November 30, 2026. The bonds may be issued in multiple ...
Japan Real Estate Investment Maintains Leverage With ¥11 Billion Refinancing
May 14, 2026
Japan Real Estate Investment Corporation has arranged a new ¥11 billion short-term loan from MUFG Bank at a fixed interest rate of 1.278%, with borrowing set for May 18, 2026 and lump-sum repayment due on August 18, 2026. The proceeds will be...
Japan Real Estate Investment Raises ¥905 Million via Third-Party Allotment
Apr 22, 2026
Japan Real Estate Investment Corporation has confirmed that an underwriter will subscribe in full to 8,060 new investment units to be issued via a third-party allotment, raising ¥905.5 million at ¥112,350 per unit. The new units, to be p...
Japan Real Estate Investment Secures First J-REIT Green Loan for ZEB Renovations
Mar 31, 2026
Japan Real Estate Investment Corporation has arranged a ¥6 billion committed term loan with Development Bank of Japan Inc., marking the first green finance facility in the J-REIT sector specifically dedicated to ZEB renovation costs. The unse...
Japan Real Estate Investment Corp Refinances ¥5 Billion Loan With New 10-Year Facility
Mar 26, 2026
Japan Real Estate Investment Corporation has arranged a new ¥5 billion long-term loan from Shinkin Central Bank to refinance an existing loan of the same size maturing on March 30, 2026. The new unsecured, unguaranteed borrowing carries a flo...
Japan Real Estate Investment Secures ¥7.5bn Sustainability-Linked Loan to Refinance Debt
Mar 25, 2026
Japan Real Estate Investment Corporation has arranged a ¥7.5 billion unsecured, unguaranteed long-term loan from Mizuho Bank, dated March 27, 2026 and maturing in 2036, to replenish cash used to repay a ¥2 billion short-term loan and a &...
Japan Real Estate Investment Sets Terms for New Unit Issuance and Secondary Offering
Mar 25, 2026
Japan Real Estate Investment Corporation has set the terms for a new issuance of 161,200 investment units via public offering, including 70,493 units to be placed with overseas investors mainly in Europe and Asia. The offering price was fixed at &...
Japan Real Estate Investment Raises ¥10 Billion to Fund New Property Acquisitions
Mar 23, 2026
Japan Real Estate Investment Corporation has arranged two new short-term loans totaling JPY 10 billion from The Norinchukin Bank and Shinkin Central Bank. The unsecured, unguaranteed borrowings, each JPY 5 billion and maturing in March 2027, are l...
Japan Real Estate Investment Raises 2026 Forecasts and Charts Growth Through 2027
Mar 19, 2026
Japan Real Estate Investment Corporation revised upward its forecast for the September 2026 period, projecting operating revenue of ¥43.58 billion and net profit of ¥19.11 billion, driven by newly issued investment units and recent acqui...
Japan Real Estate Investment Plans New Public Offering of 161,200 Units
Mar 19, 2026
Japan Real Estate Investment Corporation has approved the issuance of 161,200 new investment units via a public offering, with pricing and proceeds to be finalized at a later board meeting. The units will be underwritten on a firm commitment basis...
Japan Real Estate Investment Expands Portfolio With Prime Tokyo and Sapporo Office Acquisitions
Mar 19, 2026
Japan Real Estate Investment Corporation will acquire additional ownership in the CO·MO·RE Yotsuya office complex in Tokyo and fully acquire the Sapporo Arch Building in Hokkaido, for planned prices of JPY 15.54 billion and JPY 8.175 bil...
Japan Real Estate Investment Raises ¥15 Billion Debt for Shinjuku Eastside Acquisition
Mar 11, 2026
Japan Real Estate Investment Corporation has secured a total of JPY 15 billion in new short-term debt to help finance the additional acquisition of a trust beneficiary interest in the Shinjuku Eastside Square property. The funds will be borrowed v...
Japan Real Estate Investment Lifts Stake in Landmark Shinjuku Office Tower
Mar 11, 2026
Japan Real Estate Investment Corporation will increase its stake in Shinjuku Eastside Square in central Tokyo by acquiring an additional 9% trust beneficiary interest for JPY 20.353 billion from Mitsubishi Estate, raising its overall ownership fro...
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.