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Daiwa House REIT Investment Corporation
(8984)
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Rating:67Neutral
Price Target:
¥131,285
▼(-8.32% Downside)
Action:Downgraded
Date:08/06/26
The score is primarily supported by strong profitability and improved recent cash generation, alongside manageable REIT leverage. This is offset by mixed-to-weak technical signals (below key moving averages with subdued momentum) and a valuation profile that is helped by the ~4.83% yield but tempered by a ~20.76 P/E.
Positive Factors
High profitability and margin expansion
Sustained high margins (2025 net margin ~42%) and accelerating revenue provide a durable earnings base for a REIT. Strong operating profitability supports recurring distributions, funds maintenance capex from operations, and reduces reliance on frequent equity issuance over the medium term.
Negative Factors
Volatile free cash flow history
Material swings in free cash flow across years indicate sensitivity to timing of investments, dispositions and capex cycles. This volatility complicates multi-quarter payout planning and raises the risk that distributions or growth investments require external financing during weaker cash years.
Read all positive and negative factors
Positive Factors
Negative Factors
High profitability and margin expansion
Sustained high margins (2025 net margin ~42%) and accelerating revenue provide a durable earnings base for a REIT. Strong operating profitability supports recurring distributions, funds maintenance capex from operations, and reduces reliance on frequent equity issuance over the medium term.
Read all positive factors
Daiwa House REIT Investment Corporation (8984) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥560.67B
Dividend Yield4.83%
Average Volume (3M)8.34K
Price to Earnings (P/E)20.8
Beta (1Y)0.17
Revenue Growth5.70%
EPS Growth18.14%
CountryJP
Employees33
SectorGeneral
Sector StrengthN/A
IndustryREIT - Diversified
Share Statistics
EPS (TTM)5948.93
Shares Outstanding4,539,845
10 Day Avg. Volume6,780
30 Day Avg. Volume8,342
Financial Highlights & Ratios
PEG Ratio0.53
Price to Book (P/B)1.16
Price to Sales (P/S)8.81
P/FCF Ratio12.40
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)5,017.7
Revenue Forecast (FY)¥60.93B
Daiwa House REIT Investment Corporation Business Overview & Revenue Model
Company Description
Effective September 1, 2016, Daiwa House REIT Investment Corporation initiated a new phase as a diversified real estate investment trust, following its merger with Daiwa House Residential Investment Corporation. This integration saw the combined e...
How the Company Makes Money
Daiwa House REIT Investment Corporation primarily makes money by owning and leasing real estate and distributing the resulting cash flow to unitholders. Its main revenue stream is rental revenue (lease income) collected from tenants across its pro...
Daiwa House REIT Investment Corporation Financial Statement Overview
Summary
Income Statement
82
Very Positive
Balance Sheet
66
Positive
Cash Flow
71
Positive
| Breakdown | TTM | Feb 2025 | Feb 2024 | Feb 2023 | Feb 2022 | Feb 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 73.50B | 66.72B | 61.90B | 59.06B | 59.63B | 57.67B |
| Gross Profit | 32.73B | 40.97B | 36.25B | 30.36B | 35.02B | 34.41B |
| EBITDA | 46.17B | 46.34B | 42.60B | 40.21B | 39.98B | 40.20B |
| Net Income | 27.24B | 28.19B | 20.43B | 22.35B | 22.73B | 22.72B |
Balance Sheet | ||||||
| Total Assets | 937.41B | 948.10B | 963.49B | 958.75B | 963.57B | 900.31B |
| Cash, Cash Equivalents and Short-Term Investments | 39.60B | 31.77B | 26.72B | 54.88B | 50.03B | 47.32B |
| Total Debt | 407.95B | 410.95B | 420.55B | 407.55B | 407.55B | 378.56B |
| Total Liabilities | 442.34B | 443.15B | 454.12B | 440.57B | 441.75B | 410.84B |
| Stockholders Equity | 495.06B | 504.94B | 509.37B | 518.17B | 521.82B | 489.47B |
Cash Flow | ||||||
| Free Cash Flow | 39.19B | 47.43B | 8.83B | 31.09B | -36.91B | 30.83B |
| Operating Cash Flow | 52.47B | 54.95B | 50.21B | 37.39B | 41.61B | 44.18B |
| Investing Cash Flow | -19.21B | -8.14B | -41.99B | -6.40B | -76.99B | -13.43B |
| Financing Cash Flow | -41.94B | -42.25B | -16.33B | -26.14B | 38.08B | -22.81B |
Daiwa House REIT Investment Corporation Technical Analysis
Negative
143200.00
Price Trends
121016.00
Negative
123645.00
Negative
128823.03
Negative
Market Momentum
-115.93
Positive
41.06
Neutral
12.28
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:8984, the sentiment is Negative. The current price of 143200 is above the 20-day moving average (MA) of 123005.00, above the 50-day MA of 121016.00, and above the 200-day MA of 128823.03, indicating a bearish trend. The MACD of -115.93 indicates Positive momentum. The RSI at 41.06 is Neutral, neither overbought nor oversold. The STOCH value of 12.28 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:8984.
Daiwa House REIT Investment Corporation Peers Comparison
UnderperformOutperform
Sector (55)
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 | ¥339.58B | 21.42 | 5.91% | 4.18% | 23.60% | 16.04% | |
60 Neutral | ¥521.28B | 18.98 | 7.25% | 4.46% | -1.59% | 7.45% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
53 Neutral | ¥309.13B | 25.33 | ― | 3.56% | 6.93% | 7.40% |
* General Sector Average
JP:8984
Daiwa House REIT Investment Corporation
120,100.00
-2,553.50
-2.08%
JP:3279
Activia Properties
140,700.00
15,446.60
12.33%
JP:3309
Sekisui House Reit
73,900.00
-247.53
-0.33%
JP:8960
United Urban Investment
160,200.00
-2,546.95
-1.56%
JP:3226
Nippon Accommodations Fund Inc.
117,900.00
562.35
0.48%
JP:3471
Mitsui Fudosan Logistics Park, Inc.
106,100.00
6,433.61
6.46%
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.