This page contains a list of the latest prices, yields, and equity market capitalization of J-REITs. Click on a category to sort the table by the particular category.

Definition of Terms / Calculation Method
<Dividend Yield>
The dividend yield is the ratio of dividends (dividends) paid out compared to the investment amount. This is used as an indicator to measure investment return.
Calculation method:
(Current period forecast dividend + Next period forecast dividend) / Investment unit price
-Forecast dividends are applied from the next business day after the public release of documents by each J-REIT.
-Dividends in excess of profits are included in forecast dividends.
-The price of investment units represents the daily closing price on the Tokyo Stock Exchange.

The following calculation method is applied in cases when the calculation method described above cannot be applied:
1. J-REITs reporting earnings annually:
Current period forecast dividend / Investment unit price

2. J-REITs that do not release a current forecast distribution:
(Forecast dividend from the previous period x 2) / Investment unit price

3. J-REITs that do not release their next forecast distribution:
(Current period forecast dividend x 2) / Investment unit price

4. J-REITs with irregular reporting periods:
The forecast dividend for each period is calculated for a six-month period

<NAV per Unit>
Net asset value (NAV) is the market value of a real estate portfolio.
NAV per unit is calculated by dividing the number of investment units by the NAV.

Calculation method:
Investment amount per unit + Unrealized P/L per unit = (Unitholders’ capital + Investment surplus) / Number of investment units + (Real estate appraisal value – Real estate book value) / Number of investment units at the period-end
-Data for the unitholders’ capital, investment surplus, and number of investment units are applied from the investment value date based on publicly released documents of the J-REIT.
-Data for the real estate appraisal value, real estate book value, and number of investment units at the period-end are applied from the following month after the earnings released by each J-REIT.
Note: Not calculated for J-REITs that do not report earnings data.

<P/NAV>
The price/NAV ratio is an indicator that shows the degree to which the investment unit price is undervalued compared to the NAV of a J-REIT’s real estate portfolio based on the market value. The price/NAV ratio is equivalent to the price-to-book-value ratio (PBR) used for stocks.
Calculation method:
Investment unit price / NAV per unit
-The investment unit price represents the daily closing price on the Tokyo Stock Exchange
-Refer to the NAV per unit above
Note: Not calculated for J-REITs that do not report earnings data.

List of YieldsAs of Nov. 17, 2017

Average Dividend Yield of All J-REITs (Day-on-Day) Total Equity Market Capitalization of All J-REITs (Day-on-Day)
4.19% (-0.06) 11,361,271million JPY (+169,286million JPY)

*Click on a category to sort the table by that particular category.

CodeREITPrice on Nov. 17
(JPY)
% changeDividend yield
(%)
NAV per unit
(JPY)
P/NAVMarket cap
(million JPY)
Trading volume
(units)
Settlement month Sector
8951 Nippon Building   News 559,000 +2.57% 3.31 501,776 1.11 789,308 5,274 Jun. & Dec. 1
8952 Japan Real Estate   News 544,000 +2.45% 3.33 479,490 1.13 712,265 5,006 Mar. & Sep. 1
8953 Japan Retail    News 199,800 +1.32% 4.33 207,724 0.96 532,906 15,188 Feb. & Aug. 3
8954 ORIX JREIT   News 156,800 +1.95% 4.03 161,187 0.97 420,224 7,998 Feb. & Aug. 7
8955 Japan Prime Realty   News 369,500 +1.23% 3.91 305,867 1.21 341,049 2,609 Jun. & Dec. 7
8956 Premier   News 101,500 +0.69% 4.93 106,717 0.95 133,675 4,227 Apr. & Oct. 8
8957 TOKYU REIT   News 135,000 +0.82% 3.93 156,259 0.86 131,976 2,056 Jan. & Jul. 7
8958 Global One   News 385,000 - 4.10 486,010 0.79 86,202 1,556 Mar. & Sep. 1
8960 United Urban   News 163,400 +1.87% 4.13 142,633 1.15 499,201 13,170 May & Nov. 7
8961 MORI TRUST   News 162,300 +3.24% 4.50 133,474 1.22 214,236 8,131 Mar. & Sep. 7
8964 Frontier   News 452,000 +1.57% 4.46 405,611 1.11 224,192 1,503 Jun. & Dec. 3
8966 HEIWA   News 93,600 +1.08% 4.33 109,141 0.86 94,990 2,371 May & Nov. 7
8967 Japan Logistics   News 206,600 +0.88% 4.17 235,783 0.88 191,105 2,974 Jan. & Jul. 5
8968 Fukuoka REIT   News 162,700 +0.87% 4.27 152,640 1.07 121,537 2,024 Feb. & Aug. 7
8972 Kenedix Office   News 618,000 +2.66% 3.95 591,153 1.05 250,219 1,568 Apr. & Oct. 1
8973 Sekisui House   News 109,000 +1.58% 4.06 112,743 0.97 120,501 3,277 Mar. & Sep. 2
8975 Ichigo Office REIT   News 76,800 +0.79% 5.05 71,338 1.08 117,680 6,912 Apr. & Oct. 1
8976 Daiwa Office   News 573,000 +1.78% 3.76 620,946 0.92 285,279 2,436 May & Nov. 1
8977 Hankyu REIT   News 131,200 +0.46% 4.34 149,419 0.88 78,392 2,794 May & Nov. 7
8984 Daiwa House REIT   News 267,100 +2.18% 3.73 245,689 1.09 451,399 5,183 Feb. & Aug. 7
8985 Japan Hotel   News 77,700 +1.57% 4.62 72,071 1.08 311,643 14,729 Dec. 4
8986 Japan Rental Housing   News 79,400 -0.13% 4.79 79,281 1.00 130,221 5,693 Mar. & Sep. 2
8987 Japan Excellent   News 132,700 +0.30% 4.12 122,263 1.09 173,266 2,264 Jun. & Dec. 1
8963 Invincible   News 48,000 +1.69% 6.52 51,123 0.94 230,073 28,549 Jun. & Dec. 7
3226 Nippon Accommodations   News 447,000 +1.48% 3.91 394,246 1.13 216,581 1,880 Feb. & Aug. 2
3227 MCUBS MidCity   News 377,000 -0.40% 4.28 405,443 0.93 111,828 1,458 Jun. & Dec. 1
3234 MORI HILLS REIT   News 133,500 +1.06% 4.00 112,104 1.19 233,710 4,584 Jan. & Jul. 1
3249 Industrial & Infrastructure   News 468,000 +0.86% 4.35 390,910 1.20 185,873 1,300 Jan. & Jul. 8
3269 Advance Residence   News 272,600 +2.33% 3.78 212,868 1.28 368,010 4,761 Jan. & Jul. 2
8979 Starts Proceed   News 162,600 -0.79% 5.17 193,403 0.84 41,752 963 Apr. & Oct. 2
3278 Kenedix Residential   News 301,500 +0.33% 4.62 304,740 0.99 105,250 2,367 Jan. & Jul. 2
3279 Activia Properties   News 463,000 +2.66% 4.00 399,839 1.16 307,994 2,683 May & Nov. 7
3281 GLP J-REIT   News 116,300 +2.83% 4.29 107,800 1.08 331,813 7,975 Feb. & Aug. 5
3282 Comforia Residential   News 236,100 +1.86% 3.97 220,647 1.07 133,088 1,713 Jan. & Jul. 2
3283 Nippon Prologis   News 241,500 +1.39% 3.69 195,898 1.23 496,753 9,358 May & Nov. 5
3287 Hoshino Resorts   News 556,000 +0.72% 4.47 529,221 1.05 117,221 1,564 Apr. & Oct. 4
3290 ONE REIT   News 241,200 +1.22% 5.95 256,859 0.94 45,659 2,092 Feb. & Aug. 1
3292 AEON REIT   News 116,000 +0.52% 5.05 126,173 0.92 206,172 4,667 Jan. & Jul. 3
3295 Hulic Reit   News 161,200 +0.56% 4.49 159,553 1.01 178,416 5,606 Feb. & Aug. 7
3296 NIPPON REIT   News 327,500 -0.61% 5.29 321,185 1.02 128,301 1,373 Jun. & Dec. 1
3298 Invesco Office   News 109,000 +0.74% 5.33 115,754 0.94 88,062 3,710 Apr. & Oct. 1
3308 Nippon Healthcare   News 163,500 -0.37% 5.02 199,288 0.82 12,202 304 Apr. & Oct. 9
3451 Tosei Reit   News 105,600 +0.38% 6.32 124,464 0.85 24,753 2,163 Apr. & Oct. 7
3309 Sekisui House Reit   News 125,800 +1.13% 4.29 142,307 0.88 121,900 3,290 Apr. & Oct. 7
3453 Kenedix Retail   News 231,000 +0.39% 5.33 240,089 0.96 117,279 2,888 Mar. & Sep. 3
3455 Healthcare & Medical   News 103,600 +0.58% 5.09 113,997 0.91 20,006 438 Jan. & Jul. 9
3459 Samty Residential   News 87,800 -0.23% 6.08 101,451 0.87 24,847 561 Jan. & Jul. 2
3460 Japan Senior Living   News 148,100 -0.07% 4.50 203,996 0.73 12,551 853 Feb. & Aug. 9
3462 Nomura Master   News 139,000 +0.65% 4.35 150,904 0.92 581,455 12,573 Feb. & Aug. 7
3463 Ichigo Hotel REIT   News 114,300 +0.18% 5.61 139,941 0.82 29,442 630 Jan. & Jul. 4
3466 LaSalle LOGIPORT REIT   News 110,700 -0.18% 4.28 105,402 1.05 121,770 3,638 Feb. & Aug. 5
3468 Star Asia   News 107,400 +0.47% 6.32 111,815 0.96 44,496 2,175 Jan. & Jul. 7
3470 Marimo Regional Revitalization   News 107,500 - 6.31 119,741 0.90 9,779 389 Jun. & Dec. 7
3471 Mitsui Fudosan Logistics   News 346,500 +3.28% 3.17 286,585 1.21 77,616 1,869 Jan. & Jul. 5
3472 Ooedo Onsen Reit   News 90,000 +0.11% 5.24 95,242 0.94 15,858 751 May & Nov. 4
3473 SAKURA SOGO REIT   News 90,400 -0.22% 6.67 94,909 0.95 30,103 1,036 Feb. & Aug. 7
3476 MIRAI Corporation   News 172,500 +1.05% 6.49 182,609 0.94 50,672 1,983 Apr. & Oct. 7
3478 MORI TRUST Hotel   News 137,500 +1.18% 4.38 117,788 1.17 68,750 1,088 Feb. & Aug. 4
3481 Mitsubishi Estate Logistics   News 279,300 +1.34% 3.96 59,770 2,508 Feb. & Aug. 5

• New City Residence Investment Corporation (8965): Delisted on November 10, 2008 → Merged with BLife Investment Corporation on April 1, 2010 (trade name changed to Daiwa House Residential Investment Corporation)
• LCP Investment Corporation (8980): Delisted on January 27, 2010 → Merged with Invincible Investment Corporation on February 1, 2010
• Nippon Residential Investment Corporation (8962) and Advance Residence Investment Corporation (8978): Delisted on February 24, 2010 → Listed on March 2, 2010 after merger with and new establishment of Advance Residence Investment Corporation (3269)
• LaSalle Japan REIT Inc. (8974): Delisted on February 24, 2010 → Merged with Japan Retail Fund Investment Corporation on March 1, 2010
• Prospect REIT Investment Corporation (8969): Delisted on June 28, 2010 → Merged with Japan Rental Housing Investments Inc. on July 1, 2010
• Japan Single-residence REIT Inc. (8970): Delisted on September 28, 2010 → Merged with Heiwa Real Estate REIT, Inc. on October 1, 2010
• Nippon Commercial Investment Corporation (3229): Delisted on November 26, 2010 → Merged with United Urban Investment Corporation on December 1, 2010
• Ichigo Real Estate Investment Corporation (8983): Delisted on October 27, 2011 → Merged with FC Residential Investment Corporation on November 1, 2011 (trade name changed to Ichigo Real Estate Investment Corporation)
• Japan Hotel and Resort, Inc. (8981): Delisted on March 28, 2012 → Merged with Japan Hotel Fund Investment Corporation on April 1, 2012 (trade name changed to Japan Hotel REIT Investment Corporation)
• Nomura Real Estate Office Fund, Inc. (8959), Nomura Real Estate Residential Fund, Inc. (3240), Nomura Real Estate Master Fund, Inc. (3285): Delisted on September 28, 2015 → Listed on October 2, 2015 after merger with and new establishment of Nomura Real Estate Master Fund, Inc. (3462)
• Top REIT, Inc. (8982): Delisted on August 29, 2016 → Merged with Nomura Real Estate Master Fund, Inc. on September 1, 2016
• Daiwa House REIT Investment Corporation (3263): Delisted on August 29, 2016 → Merged with Daiwa House Residential Investment Corporation on September 1, 2016 (trade name changed to Daiwa House REIT Investment Corporation)

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ReitInfo.com

What's New
  • Sep. 14, 2017
    3481 Mitsubishi Estate Logistics REIT Investment Corporation 9/14 Listing on TSE REIT Market
  • Feb. 7, 2017
    3478 MORI TRUST Hotel Reit,Inc. 2/7 Listing on TSE REIT Market
  • Dec. 16, 2016
    3476 MIRAI Corporation, 12/16 Listing on TSE REIT Market
  • Sep. 8, 2016
    3473 SAKURA SOGO REIT Investment Corporation, 9/8 Listing on TSE REIT Market
  • Aug. 31, 2016
    3472 Ooedo Onsen Reit Investment Corporation, 8/31 Listing on TSE REIT Market
Property Acquisition Price Rankings

(Billions of yen)

1 Shinjuku Maynds Tower 134
2 Roppongi Hills Mori Tower 115
3 Tokyo Shiodome Building 110
4 Shiodome Building 107
5 Kitanomaru Square 82
Unit Price Growth Rankings
1 Mitsui Fudosan Logistics +3.28%
2 MORI TRUST +3.24%
3 GLP J-REIT +2.83%
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