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 Sep. 22, 2017

Average Dividend Yield of All J-REITs (Day-on-Day) Total Equity Market Capitalization of All J-REITs (Day-on-Day)
4.14% (+0.01) 11,304,017million JPY (-32,694million JPY)

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

CodeREITPrice on Sep. 22
(JPY)
% changeDividend yield
(%)
NAV per unit
(JPY)
P/NAVMarket cap
(million JPY)
Trading volume
(units)
Settlement month Sector
8951 Nippon Building   News 567,000 -0.18% 3.26 501,776 1.13 800,604 3,769 Jun. & Dec. 1
8952 Japan Real Estate   News 551,000 - 3.21 479,490 1.15 721,430 2,227 Mar. & Sep. 1
8953 Japan Retail    News 200,800 -0.25% 4.31 203,025 0.99 535,573 5,725 Feb. & Aug. 3
8954 ORIX JREIT   News 158,500 -1.00% 3.89 155,923 1.02 424,780 3,898 Feb. & Aug. 7
8955 Japan Prime Realty   News 376,500 -1.18% 3.84 305,867 1.23 347,510 1,462 Jun. & Dec. 7
8956 Premier   News 108,600 +0.65% 4.56 106,717 1.02 143,026 2,902 Apr. & Oct. 8
8957 TOKYU REIT   News 135,500 -0.15% 3.91 148,820 0.91 132,465 2,806 Jan. & Jul. 7
8958 Global One   News 373,500 -0.40% 4.17 486,010 0.77 83,627 454 Mar. & Sep. 1
8960 United Urban   News 165,500 +0.18% 4.08 142,633 1.16 505,617 4,731 May & Nov. 7
8961 MORI TRUST   News 175,700 -0.17% 4.87 133,474 1.32 231,924 3,184 Mar. & Sep. 7
8964 Frontier   News 463,500 +0.11% 4.35 405,611 1.14 229,896 632 Jun. & Dec. 3
8966 HEIWA   News 88,700 -0.67% 4.57 109,141 0.81 90,017 744 May & Nov. 7
8967 Japan Logistics   News 210,100 -0.38% 4.10 227,266 0.92 184,888 2,875 Jan. & Jul. 5
8968 Fukuoka REIT   News 160,900 -0.68% 4.31 150,329 1.07 120,192 860 Feb. & Aug. 7
8972 Kenedix Office   News 627,000 +0.80% 3.89 591,153 1.06 253,863 523 Apr. & Oct. 1
8973 Sekisui House   News 112,200 -0.36% 3.94 112,743 1.00 124,038 2,152 Mar. & Sep. 2
8975 Ichigo Office REIT   News 74,800 +0.13% 5.17 71,338 1.05 114,615 1,447 Apr. & Oct. 1
8976 Daiwa Office   News 562,000 +0.36% 3.84 620,946 0.91 279,802 1,048 May & Nov. 1
8977 Hankyu REIT   News 133,900 -0.89% 4.26 149,419 0.90 80,005 1,242 May & Nov. 7
8984 Daiwa House REIT   News 274,000 -0.44% 3.69 238,452 1.15 463,060 4,178 Feb. & Aug. 7
8985 Japan Hotel   News 71,900 -0.55% 4.99 72,071 1.00 288,380 18,278 Dec. 4
8986 Japan Rental Housing   News 80,800 -0.25% 4.69 79,281 1.02 132,517 2,950 Mar. & Sep. 2
8987 Japan Excellent   News 133,700 -0.15% 4.09 122,263 1.09 174,572 1,341 Jun. & Dec. 1
8963 Invincible   News 44,450 -4.41% 7.04 53,156 0.84 171,614 34,523 Jun. & Dec. 7
3226 Nippon Accommodations   News 439,000 -0.57% 3.74 375,097 1.17 212,705 849 Feb. & Aug. 2
3227 MCUBS MidCity   News 340,000 +0.74% 4.75 405,443 0.84 100,853 1,092 Jun. & Dec. 1
3234 MORI HILLS REIT   News 139,300 - 3.83 110,133 1.26 243,864 1,989 Jan. & Jul. 1
3249 Industrial & Infrastructure   News 483,000 -0.62% 4.22 375,981 1.28 191,830 613 Jan. & Jul. 8
3269 Advance Residence   News 273,300 -1.09% 3.77 206,028 1.33 368,955 3,452 Jan. & Jul. 2
8979 Starts Proceed   News 151,400 +0.60% 5.52 193,403 0.78 38,876 525 Apr. & Oct. 2
3278 Kenedix Residential   News 283,100 -0.14% 4.80 297,761 0.95 98,827 542 Jan. & Jul. 2
3279 Activia Properties   News 482,500 - 3.84 399,839 1.21 320,966 988 May & Nov. 7
3281 GLP J-REIT   News 115,400 -0.43% 4.28 103,202 1.12 329,245 4,768 Feb. & Aug. 5
3282 Comforia Residential   News 234,000 -0.38% 4.01 215,232 1.09 131,904 779 Jan. & Jul. 2
3283 Nippon Prologis   News 239,200 -0.37% 3.73 195,898 1.22 492,022 4,257 May & Nov. 5
3287 Hoshino Resorts   News 554,000 -1.25% 4.30 532,571 1.04 95,659 307 Apr. & Oct. 4
3290 ONE REIT   News 204,200 -1.02% 5.96 249,189 0.82 38,655 623 Feb. & Aug. 1
3292 AEON REIT   News 113,000 +0.80% 5.18 126,395 0.89 184,858 11,804 Jan. & Jul. 3
3295 Hulic Reit   News 167,400 +0.18% 3.98 156,888 1.07 174,933 2,426 Feb. & Aug. 7
3296 NIPPON REIT   News 320,500 +0.79% 5.41 321,185 1.00 125,559 1,119 Jun. & Dec. 1
3298 Invesco Office   News 108,100 +0.46% 5.38 115,754 0.93 87,335 2,596 Apr. & Oct. 1
3308 Nippon Healthcare   News 162,400 +0.25% 5.05 199,288 0.81 12,120 146 Apr. & Oct. 9
3451 Tosei Reit   News 107,600 +0.84% 6.00 124,464 0.86 19,712 655 Apr. & Oct. 7
3309 Sekisui House Reit   News 129,600 +0.08% 4.17 142,307 0.91 125,582 2,340 Apr. & Oct. 7
3453 Kenedix Retail   News 239,700 -0.04% 5.06 240,089 1.00 121,696 1,332 Mar. & Sep. 3
3455 Healthcare & Medical   News 95,500 -0.21% 5.07 111,600 0.86 18,442 444 Jan. & Jul. 9
3459 Samty Residential   News 83,900 +0.48% 6.36 97,274 0.86 23,744 715 Jan. & Jul. 2
3460 Japan Senior Living   News 135,300 +0.59% 5.17 200,881 0.67 11,467 160 Feb. & Aug. 9
3462 Nomura Master   News 144,300 -0.35% 4.09 147,713 0.98 603,626 7,806 Feb. & Aug. 7
3463 Ichigo Hotel REIT   News 107,000 +0.38% 5.99 137,200 0.78 27,561 342 Jan. & Jul. 4
3466 LaSalle LOGIPORT REIT   News 109,300 +0.28% 4.33 104,800 1.04 120,230 2,145 Feb. & Aug. 5
3468 Star Asia   News 101,300 -0.10% 6.70 106,572 0.95 41,969 1,548 Jan. & Jul. 7
3470 Marimo Regional Revitalization   News 100,500 +0.10% 6.75 119,741 0.84 9,142 422 Jun. & Dec. 7
3471 Mitsui Fudosan Logistics   News 327,000 -0.61% 3.36 273,322 1.20 73,248 463 Jan. & Jul. 5
3472 Ooedo Onsen Reit   News 88,600 +0.11% 5.28 95,242 0.93 15,611 436 May & Nov. 4
3473 SAKURA SOGO REIT   News 88,700 - 7.51 93,230 0.95 29,537 1,317 Feb. & Aug. 7
3476 MIRAI Corporation   News 173,200 +0.58% 5.89 182,609 0.95 50,878 1,296 Apr. & Oct. 7
3478 MORI TRUST Hotel   News 142,700 -1.38% 4.22 117,166 1.22 71,350 1,159 Feb. & Aug. 4
3481 Mitsubishi Estate Logistics   News 276,900 -0.22% 3.99 57,041 5,645 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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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)

Unit Price Growth Rankings
1 Tosei Reit +0.84%
2 Kenedix Office +0.80%
3 AEON REIT +0.80%
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