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 Feb. 25, 2021

Average Dividend Yield of All J-REITs (Day-on-Day) Total Equity Market Capitalization of All J-REITs (Day-on-Day)
3.60% (-0.01) 15,893,029million JPY (-180,420million JPY)

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

CodeREITPrice on Feb. 25
(JPY)
% changeDividend yield
(%)
NAV per unit
(JPY)
P/NAVMarket cap
(million JPY)
Trading volume
(units)
Settlement month Sector
8951 Nippon Building   News 680,000 +1.80% 3.29 558,834 1.22 1,123,700 6,142 Jun. & Dec. 1
8952 Japan Real Estate   News 685,000 +1.48% 3.18 565,820 1.21 948,869 4,314 Mar. & Sep. 1
8953 Japan Retail    News 109,200 -2.02% 4.15 110,668 0.99 568,382 55,956 Feb. & Aug. 3
8954 ORIX JREIT   News 188,400 -0.58% 3.63 184,055 1.02 519,984 8,274 Feb. & Aug. 7
8955 Japan Prime Realty   News 399,000 +0.88% 3.78 370,324 1.08 382,342 2,422 Jun. & Dec. 7
8956 Premier   News 147,100 +1.66% 4.49 132,645 1.11 193,730 6,052 Apr. & Oct. 8
8957 TOKYU REIT   News 189,900 +1.88% 3.53 194,421 0.98 185,646 3,329 Jan. & Jul. 7
8958 Global One   News 118,300 +1.02% 4.06 134,408 0.88 113,791 4,481 Mar. & Sep. 1
8960 United Urban   News 150,100 -0.40% 4.15 157,922 0.95 468,062 9,425 May & Nov. 7
8961 MORI TRUST   News 154,100 +1.85% 4.43 144,095 1.07 203,412 3,850 Mar. & Sep. 7
8964 Frontier   News 487,000 +0.62% 4.33 437,881 1.11 248,744 1,710 Jun. & Dec. 3
8966 HEIWA   News 158,200 +4.35% 3.54 126,440 1.25 158,189 5,105 May & Nov. 7
8967 Japan Logistics   News 316,500 -0.16% 3.03 256,119 1.24 286,456 2,416 Jan. & Jul. 5
8968 Fukuoka REIT   News 173,100 -1.20% 3.93 171,995 1.01 137,788 2,523 Feb. & Aug. 7
8972 Kenedix Office   News 719,000 +1.27% 4.06 730,920 0.98 308,099 1,669 Apr. & Oct. 1
8975 Ichigo Office REIT   News 89,900 +0.67% 4.64 84,575 1.06 137,753 4,820 Apr. & Oct. 1
8976 Daiwa Office   News 750,000 +0.40% 3.71 746,455 1.00 368,908 2,993 May & Nov. 1
8977 Hankyu Hanshin REIT   News 151,900 +1.06% 3.91 163,814 0.93 105,601 1,930 May & Nov. 7
8984 Daiwa House REIT   News 288,700 -1.30% 4.07 272,916 1.06 633,985 6,112 Feb. & Aug. 7
8985 Japan Hotel   News 66,700 +1.68% 0.58 80,728 0.83 297,639 37,401 Dec. 4
8986 Daiwa Securities Living    News 105,400 +1.15% 4.10 96,775 1.09 224,665 6,644 Mar. & Sep. 8
8987 Japan Excellent   News 141,700 +1.58% 3.96 154,536 0.92 191,720 4,870 Jun. & Dec. 1
8963 Invincible   News 43,550 -0.46% 0.60 49,476 0.88 265,517 61,689 Jun. & Dec. 4
3226 Nippon Accommodations   News 605,000 -0.66% 3.30 491,594 1.23 304,601 1,344 Feb. & Aug. 2
3227 MCUBS MidCity   News -100.00% 97,966 Jun. & Dec. 1
3234 MORI HILLS REIT   News 149,100 +0.88% 3.90 143,342 1.04 285,725 5,443 Jan. & Jul. 1
3249 Industrial & Infrastructure   News 186,600 +0.70% 3.38 118,867 1.57 386,265 6,194 Jan. & Jul. 8
3269 Advance Residence   News 330,000 -0.60% 3.36 266,489 1.24 457,050 4,111 Jan. & Jul. 2
8979 Starts Proceed   News 216,100 +0.93% 4.18 213,925 1.01 54,841 735 Apr. & Oct. 2
3278 Kenedix Residential   News 195,300 -2.88% 4.20 177,866 1.10 185,781 14,423 Jan. & Jul. 7
3279 Activia Properties   News 484,000 +1.89% 3.84 453,435 1.07 373,272 2,866 May & Nov. 7
3281 GLP J-REIT   News 176,900 -1.01% 3.19 122,556 1.44 768,394 10,501 Feb. & Aug. 5
3282 Comforia Residential   News 324,000 -0.61% 3.35 268,069 1.21 224,530 2,411 Jan. & Jul. 2
3283 Nippon Prologis   News 338,500 -0.29% 2.87 236,548 1.43 872,088 5,890 May & Nov. 5
3287 Hoshino Resorts   News 602,000 +0.84% 2.06 515,613 1.17 133,561 1,590 Apr. & Oct. 4
3290 ONE REIT   News 293,600 -1.61% 4.96 282,325 1.04 70,437 2,053 Feb. & Aug. 1
3292 AEON REIT   News 152,500 +1.19% 4.18 142,263 1.07 285,681 4,813 Jan. & Jul. 3
3295 Hulic Reit   News 172,700 -3.73% 4.35 175,944 0.98 226,582 8,392 Feb. & Aug. 7
3296 NIPPON REIT   News 405,500 +1.50% 4.77 380,287 1.07 182,447 2,198 Jun. & Dec. 7
3298 Invesco Office   News 17,700 +2.19% 4.34 17,686 1.00 157,517 48,960 Apr. & Oct. 1
3451 Tosei Reit   News 126,100 +1.20% 5.60 136,969 0.92 42,938 1,889 Apr. & Oct. 7
3309 Sekisui House Reit   News 86,800 +1.64% 3.76 82,897 1.05 372,256 10,411 Apr. & Oct. 7
3453 Kenedix Retail   News 271,300 +1.23% 4.95 253,180 1.07 145,465 3,202 Mar. & Sep. 7
3455 Healthcare & Medical   News 138,500 +0.58% 4.64 119,994 1.15 43,074 376 Jan. & Jul. 9
3459 Samty Residential   News 113,400 +0.18% 4.81 102,143 1.11 72,497 787 Jan. & Jul. 2
3462 Nomura Master   News 165,500 -2.93% 4.00 164,909 1.00 780,366 21,941 Feb. & Aug. 7
3463 Ichigo Hotel REIT   News 94,400 +3.62% 1.87 132,671 0.71 24,070 3,027 Jan. & Jul. 4
3466 LaSalle LOGIPORT REIT   News 164,600 -2.02% 3.61 130,118 1.27 269,615 6,312 Feb. & Aug. 5
3468 Star Asia   News 54,000 +0.75% 5.39 57,511 0.94 90,417 3,248 Jan. & Jul. 7
3470 Marimo Regional Revitalization   News 123,800 -0.24% 5.56 134,428 0.92 18,902 410 Jun. & Dec. 7
3471 Mitsui Fudosan Logistics   News 523,000 -0.38% 2.88 375,698 1.39 283,466 1,989 Jan. & Jul. 5
3472 Ooedo Onsen Reit   News 79,900 -0.37% 4.75 110,208 0.72 18,804 1,618 May & Nov. 4
3476 MIRAI Corporation   News 45,950 +0.22% 5.27 49,411 0.93 76,380 6,910 Apr. & Oct. 7
3478 MORI TRUST Hotel   News 137,300 +2.08% 0.93 136,446 1.01 68,650 1,461 Feb. & Aug. 4
3481 Mitsubishi Estate Logistics   News 427,000 -0.81% 3.09 312,035 1.37 148,697 1,544 Feb. & Aug. 5
3487 CRE Logistics    News 157,200 +0.26% 4.38 133,206 1.18 78,624 2,142 Jun. & Dec. 5
3488 XYMAX REIT    News 111,000 -1.77% 5.11 144,672 0.77 24,797 2,518 Feb. & Aug. 7
3492 Takara Leben REIT   News 110,600 -2.04% 5.61 111,183 0.99 51,153 8,467 Feb. & Aug. 7
3493 ITOCHU Advance Logistics   News 133,000 +0.23% 3.76 120,435 1.10 79,817 2,503 Jan. & Jul. 5
2971 ESCON JAPAN REIT   News 131,000 +1.24% 5.19 117,328 1.12 37,071 700 Jan. & Jul. 8
2972 SANKEI REAL ESTATE   News 115,000 -1.20% 4.66 123,492 0.93 41,032 1,284 Feb. & Aug. 1
2979 SOSiLA Logistics    News 136,000 +1.87% 3.62 111,037 1.22 83,189 1,982 May & Nov. 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)

• Sekisui House SI Residential Investment Corporation (8973): Delisted on April 25, 2018 → Merged with Sekisui House Reit, Inc. on May 1, 2018

• Nippon Healthcare Investment Corporation (3308): Delisted on March 30, 2020→ Merged with Japan Rental Housing Investments Inc. on April 1, 2020 (trade name changed to Daiwa Securities Living Investment Corporation)

ReitInfo.com

Property Acquisition Price Rankings

(Billions of yen)

1 Shinjuku Mitsui Bldg. 170
2 Roppongi Hills Mori Tower 115
3 Tokyo Shiodome Building 110
4 Shiodome Building 107
5 Kitanomaru Square 82
Unit Price Growth Rankings
1 HEIWA +4.35%
2 Ichigo Hotel REIT +3.62%
3 Invesco Office +2.19%
* This website provides information and data on J-REITs and is not intended as a solicitation for investment.
* The information appearing on this website has been carefully vetted, but the accuracy of the content is in no way guaranteed and may change without notice (that is, it may be modified or deleted).
* Users shall be responsible for the use of the information published on this website. The Company cannot be held liable whatsoever regarding the use of this information.
* Copyrights related to the information published on this website belong to the Company. The unauthorized use (diversion or reproduction, etc.) of this information is strictly prohibited.