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 May 30, 2017

Average Dividend Yield of All J-REITs (Day-on-Day) Total Equity Market Capitalization of All J-REITs (Day-on-Day)
3.89% (+0.02) 11,749,633million JPY (-46,549million JPY)

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

CodeREITPrice on May 30
(JPY)
% changeDividend yield
(%)
NAV per unit
(JPY)
P/NAVMarket cap
(million JPY)
Trading volume
(units)
Settlement month Sector
8951 Nippon Building   News 593,000 -0.67% 3.05 494,137 1.20 837,316 5,093 Jun. & Dec. 1
8952 Japan Real Estate   News 577,000 -0.35% 3.06 467,977 1.23 755,472 5,146 Mar. & Sep. 1
8953 Japan Retail    News 214,800 +0.56% 3.99 203,025 1.06 572,914 16,041 Feb. & Aug. 3
8954 ORIX JREIT   News 178,000 -0.67% 3.44 155,923 1.14 477,040 9,005 Feb. & Aug. 7
8955 Japan Prime Realty   News 421,500 -0.35% 3.40 290,725 1.45 389,045 2,232 Jun. & Dec. 7
8956 Premier   News 120,100 -1.80% 4.08 103,471 1.16 158,171 3,938 Apr. & Oct. 8
8957 TOKYU REIT   News 136,700 -0.94% 3.88 148,820 0.92 133,638 2,089 Jan. & Jul. 7
8958 Global One   News 398,000 +0.38% 3.91 480,316 0.83 89,112 1,125 Mar. & Sep. 1
8960 United Urban   News 161,800 -0.12% 3.91 140,289 1.15 494,313 13,963 May & Nov. 7
8961 MORI TRUST   News 180,300 -1.53% 4.74 131,427 1.37 237,996 9,795 Mar. & Sep. 7
8964 Frontier   News 487,500 +0.21% 4.02 399,318 1.22 241,800 1,517 Jun. & Dec. 3
8966 HEIWA   News 85,800 +1.54% 4.62 104,900 0.82 87,074 4,653 May & Nov. 7
8967 Japan Logistics   News 236,300 -0.30% 3.56 227,266 1.04 207,944 2,832 Jan. & Jul. 5
8968 Fukuoka REIT   News 173,800 -0.46% 3.95 150,329 1.16 129,829 1,285 Feb. & Aug. 7
8972 Kenedix Office   News 615,000 +0.16% 3.74 572,034 1.08 249,004 1,855 Apr. & Oct. 1
8973 Sekisui House SI   News 120,700 -0.82% 3.66 108,809 1.11 133,435 1,709 Mar. & Sep. 2
8975 Ichigo Office REIT   News 66,300 +0.76% 5.84 69,187 0.96 101,591 12,278 Apr. & Oct. 1
8976 Daiwa Office   News 564,000 -0.53% 3.80 595,861 0.95 280,798 7,162 May & Nov. 1
8977 Hankyu REIT   News 143,000 -1.04% 3.80 144,472 0.99 85,443 1,808 May & Nov. 7
8984 Daiwa House REIT   News 281,900 -0.53% 3.49 171,016 1.65 476,411 7,009 Feb. & Aug. 7
8985 Japan Hotel   News 80,200 +1.26% 4.41 71,873 1.12 301,705 20,237 Dec. 4
8986 Japan Rental Housing   News 82,200 +0.37% 4.48 75,684 1.09 134,813 2,882 Mar. & Sep. 2
8987 Japan Excellent   News 132,400 +0.61% 3.97 117,098 1.13 172,875 3,246 Jun. & Dec. 1
8963 Invincible   News 52,400 +2.54% 5.29 52,396 1.00 202,307 42,610 Jun. & Dec. 7
3226 Nippon Accommodations   News 489,000 -0.61% 3.35 375,097 1.30 236,931 877 Feb. & Aug. 2
3227 MCUBS MidCity   News 349,000 +0.43% 4.56 371,143 0.94 103,522 910 Jun. & Dec. 1
3234 MORI HILLS REIT   News 140,500 -0.85% 3.73 110,133 1.28 245,965 6,680 Jan. & Jul. 1
3249 Industrial & Infrastructure   News 498,500 +0.10% 4.02 375,981 1.33 197,986 1,175 Jan. & Jul. 8
3269 Advance Residence   News 293,000 -1.64% 3.45 206,028 1.42 395,550 3,883 Jan. & Jul. 2
8979 Starts Proceed   News 145,800 +0.07% 5.69 193,116 0.75 37,438 753 Apr. & Oct. 2
3278 Kenedix Residential   News 286,900 -1.34% 4.51 297,761 0.96 100,154 1,229 Jan. & Jul. 2
3279 Activia Properties   News 513,000 -1.16% 3.56 385,639 1.33 341,255 1,730 May & Nov. 7
3281 GLP J-REIT   News 123,500 -1.36% 4.00 103,506 1.19 352,355 10,845 Feb. & Aug. 5
3282 Comforia Residential   News 249,300 -0.84% 3.70 215,232 1.16 140,529 1,489 Jan. & Jul. 2
3283 Nippon Prologis   News 237,200 -1.41% 3.82 185,383 1.28 452,186 8,673 May & Nov. 5
3287 Hoshino Resorts   News 574,000 -0.35% 4.14 534,158 1.07 99,113 547 Apr. & Oct. 4
3290 SIA REIT   News 193,000 +0.57% 6.17 249,189 0.77 36,535 1,880 Feb. & Aug. 1
3292 AEON REIT   News 121,100 -0.33% 4.84 126,395 0.96 198,109 13,876 Jan. & Jul. 3
3295 Hulic Reit   News 181,600 -0.06% 3.65 156,888 1.16 189,772 4,689 Feb. & Aug. 7
3296 NIPPON REIT   News 293,100 -0.24% 5.46 310,012 0.95 114,825 772 Jun. & Dec. 1
3298 Invesco Office   News 102,000 -0.49% 6.91 115,743 0.88 83,186 2,003 Apr. & Oct. 1
3308 Nippon Healthcare   News 167,800 -1.06% 4.89 197,529 0.85 12,523 179 Apr. & Oct. 9
3451 Tosei Reit   News 107,500 -0.09% 5.97 119,748 0.90 19,694 1,052 Apr. & Oct. 7
3309 Sekisui House Reit   News 140,200 -1.27% 3.85 138,622 1.01 135,349 4,786 Apr. & Oct. 8
3453 Kenedix Retail   News 242,100 -0.86% 5.01 236,596 1.02 122,914 2,451 Mar. & Sep. 3
3455 Healthcare & Medical   News 99,200 +0.20% 5.19 111,600 0.89 19,156 372 Jan. & Jul. 9
3459 Samty Residential   News 83,400 -0.60% 6.29 97,781 0.85 23,602 1,392 Jan. & Jul. 2
3460 Japan Senior Living   News 140,100 -0.21% 5.00 200,881 0.70 11,873 422 Feb. & Aug. 9
3462 Nomura Master   News 163,300 -0.43% 3.61 148,553 1.10 683,105 10,031 Feb. & Aug. 7
3463 Ichigo Hotel REIT   News 116,500 -0.85% 5.24 137,200 0.85 30,009 1,469 Jan. & Jul. 4
3466 LaSalle LOGIPORT REIT   News 112,600 -0.27% 4.19 105,143 1.07 123,860 4,042 Feb. & Aug. 5
3468 Star Asia   News 99,800 -0.60% 8.40 106,572 0.94 41,347 4,128 Jan. & Jul. 7
3470 Marimo Regional Revitalization   News 92,600 -0.43% 7.08 114,117 0.81 8,424 1,002 Jun. & Dec. 7
3471 Mitsui Fudosan Logistics   News 336,000 +0.30% 3.09 273,565 1.23 75,264 799 Jan. & Jul. 5
3472 Ooedo Onsen Reit   News 88,300 -0.79% 5.51 93,834 0.94 15,558 1,296 May & Nov. 4
3473 SAKURA SOGO REIT   News 80,200 -0.37% 6.86 93,230 0.86 26,707 1,639 Feb. & Aug. 7
3476 MIRAI Corporation   News 164,400 +2.18% 6.20 48,293 1,955 Apr. & Oct. 7
3478 MORI TRUST Hotel   News 153,000 - 3.93 117,166 1.31 76,500 1,386 Feb. & Aug. 4

• 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
  • 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
  • Aug. 2, 2016
    3471 Mitsui Fudosan Logistics Park Inc. , 8/2 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 96
5 Kitanomaru Square 82
Unit Price Growth Rankings
1 Invincible +2.54%
2 MIRAI Corporation +2.18%
3 HEIWA +1.54%
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