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United Urban Investment
(8960)
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Rating:60Neutral
Price Target:
¥168,105
▼(-9.57% Downside)
Action:Reiterated
Date:08/06/26
The score is mainly supported by strong profitability and improved revenue growth, but is materially constrained by weak cash-flow quality (often negative free cash flow) and meaningful leverage. Technicals are also a headwind with the price below several key moving averages, while valuation is neutral-to-supportive due to a solid dividend yield but a mid-range P/E.
Positive Factors
Profitability & Revenue Momentum
The meaningful revenue acceleration in 2025 alongside very strong reported profitability indicates durable tenant demand and effective revenue management across the portfolio. Sustained higher topline supports recurring earnings, improves coverage of fixed costs, and creates scope for reinvestment or stable distributions if operating efficiency persists.
Negative Factors
Weak Cash Conversion & Volatile FCF
Operating cash flow covering only a fraction of reported earnings and recurring negative free cash flow (notably in 2024–25) indicate weak cash conversion. This structural cash shortfall forces reliance on external financing or asset disposals, limiting capital flexibility and threatening sustainable distributions over time.
Read all positive and negative factors
Positive Factors
Negative Factors
Profitability & Revenue Momentum
The meaningful revenue acceleration in 2025 alongside very strong reported profitability indicates durable tenant demand and effective revenue management across the portfolio. Sustained higher topline supports recurring earnings, improves coverage of fixed costs, and creates scope for reinvestment or stable distributions if operating efficiency persists.
Read all positive factors
United Urban Investment (8960) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥521.28B
Dividend Yield5.36%
Average Volume (3M)7.55K
Price to Earnings (P/E)19.0
Beta (1Y)0.34
Revenue Growth-1.59%
EPS Growth7.45%
CountryJP
EmployeesN/A
SectorReal Estate
Sector Strength53
IndustryREIT - Diversified
Share Statistics
EPS (TTM)8581.41
Shares Outstanding3,200,000
10 Day Avg. Volume12,284
30 Day Avg. Volume7,550
Financial Highlights & Ratios
PEG Ratio12.14
Price to Book (P/B)1.58
Price to Sales (P/S)7.44
P/FCF Ratio-541.12
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
¥188,000.00Price Target Upside1.13% Upside
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)9,326.47
Revenue Forecast (FY)¥55.43B
United Urban Investment Business Overview & Revenue Model
Company Description
United Urban debuted as a diversified J-REIT on the Tokyo Stock Exchange in December 2003. It maintains an investment strategy focused on a varied portfolio of real estate assets, encompassing diverse property uses and geographical areas. Since it...
United Urban Investment Financial Statement Overview
Summary
Income Statement
82
Very Positive
Balance Sheet
71
Positive
Cash Flow
45
Neutral
| Breakdown | TTM | Nov 2025 | Nov 2024 | Nov 2023 | Nov 2022 | Nov 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 83.12B | 75.94B | 54.19B | 50.41B | 48.62B | 47.01B |
| Gross Profit | 23.52B | 20.30B | 30.99B | 23.01B | 25.91B | 24.84B |
| EBITDA | 37.78B | 34.60B | 34.20B | 30.41B | 29.42B | 28.42B |
| Net Income | 26.91B | 24.12B | 23.85B | 20.30B | 19.29B | 17.17B |
Balance Sheet | ||||||
| Total Assets | 762.97B | 729.96B | 730.53B | 727.23B | 714.90B | 707.55B |
| Cash, Cash Equivalents and Short-Term Investments | 55.44B | 22.42B | 27.06B | 36.01B | 58.91B | 31.25B |
| Total Debt | 338.95B | 329.95B | 328.75B | 323.85B | 313.40B | 304.43B |
| Total Liabilities | 378.87B | 371.59B | 370.46B | 366.43B | 354.56B | 344.29B |
| Stockholders Equity | 384.10B | 358.37B | 360.08B | 360.80B | 360.34B | 363.26B |
Cash Flow | ||||||
| Free Cash Flow | -30.53B | -1.04B | -12.42B | 11.11B | 8.04B | -13.88B |
| Operating Cash Flow | 29.40B | 30.91B | 28.92B | 27.74B | 26.58B | 22.17B |
| Investing Cash Flow | -35.81B | -10.77B | -17.08B | -14.05B | -10.84B | -19.19B |
| Financing Cash Flow | 4.69B | -25.10B | -19.91B | -9.33B | -13.40B | -11.90B |
United Urban Investment Technical Analysis
Negative
185900.00
Price Trends
161472.00
Negative
165475.38
Negative
171569.20
Negative
Market Momentum
-195.15
Positive
41.59
Neutral
9.79
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:8960, the sentiment is Negative. The current price of 185900 is above the 20-day moving average (MA) of 163000.00, above the 50-day MA of 161472.00, and above the 200-day MA of 171569.20, indicating a bearish trend. The MACD of -195.15 indicates Positive momentum. The RSI at 41.59 is Neutral, neither overbought nor oversold. The STOCH value of 9.79 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:8960.
United Urban Investment Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | ¥326.24B | 15.16 | 7.47% | 5.16% | 5.14% | -0.41% | |
67 Neutral | ¥560.67B | 20.76 | ― | 4.28% | 5.70% | 18.14% | |
66 Neutral | ¥397.13B | 19.66 | 7.08% | 4.36% | -6.29% | 21.95% | |
66 Neutral | ¥339.58B | 21.42 | 5.91% | 4.18% | 23.60% | 16.04% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
65 Neutral | ¥630.52B | 18.54 | 5.37% | 4.64% | 3.41% | 1.19% | |
60 Neutral | ¥521.28B | 18.98 | 7.25% | 4.46% | -1.59% | 7.45% |
* Real Estate Sector Average
JP:8960
United Urban Investment
159,900.00
-2,561.61
-1.58%
JP:3279
Activia Properties
141,200.00
15,946.60
12.73%
JP:8955
Japan Prime Realty Investment
96,300.00
-1,084.21
-1.11%
JP:3309
Sekisui House Reit
74,200.00
-415.05
-0.56%
JP:8972
Kenedix Office Investment Corporation
151,600.00
-6,308.33
-3.99%
JP:8984
Daiwa House REIT Investment Corporation
120,500.00
-2,676.45
-2.17%
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.