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 Jul. 21, 2017

Average Dividend Yield of All J-REITs (Day-on-Day) Total Equity Market Capitalization of All J-REITs (Day-on-Day)
4.08% (+0.02) 11,296,795million JPY (-44,736million JPY)

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

CodeREITPrice on Jul. 21
(JPY)
% changeDividend yield
(%)
NAV per unit
(JPY)
P/NAVMarket cap
(million JPY)
Trading volume
(units)
Settlement month Sector
8951 Nippon Building   News 575,000 -1.88% 3.17 494,137 1.16 811,900 3,738 Jun. & Dec. 1
8952 Japan Real Estate   News 567,000 -1.22% 3.12 479,490 1.18 742,379 2,950 Mar. & Sep. 1
8953 Japan Retail    News 209,000 -2.02% 4.11 203,025 1.03 557,444 9,784 Feb. & Aug. 3
8954 ORIX JREIT   News 162,700 -0.18% 3.76 155,923 1.04 436,036 5,493 Feb. & Aug. 7
8955 Japan Prime Realty   News 403,000 - 3.57 290,725 1.39 371,969 2,202 Jun. & Dec. 7
8956 Premier   News 108,400 -0.18% 4.57 106,717 1.02 142,762 3,093 Apr. & Oct. 8
8957 TOKYU REIT   News 135,300 +1.42% 3.92 148,820 0.91 132,269 3,979 Jan. & Jul. 7
8958 Global One   News 374,500 -0.27% 4.16 486,010 0.77 83,851 409 Mar. & Sep. 1
8960 United Urban   News 157,900 -0.82% 4.27 140,289 1.13 482,398 10,190 May & Nov. 7
8961 MORI TRUST   News 178,500 -0.34% 4.79 133,474 1.34 235,620 1,909 Mar. & Sep. 7
8964 Frontier   News 459,500 +0.55% 4.31 399,318 1.15 227,912 774 Jun. & Dec. 3
8966 HEIWA   News 85,100 -0.47% 4.76 104,900 0.81 86,363 1,943 May & Nov. 7
8967 Japan Logistics   News 225,700 +0.89% 3.73 227,266 0.99 198,616 2,027 Jan. & Jul. 5
8968 Fukuoka REIT   News 165,600 -0.48% 4.15 150,329 1.10 123,703 1,832 Feb. & Aug. 7
8972 Kenedix Office   News 594,000 +0.51% 4.11 591,153 1.00 240,502 1,830 Apr. & Oct. 1
8973 Sekisui House   News 112,200 -0.27% 3.94 112,743 1.00 124,038 2,897 Mar. & Sep. 2
8975 Ichigo Office REIT   News 71,700 - 5.40 71,338 1.01 109,865 3,640 Apr. & Oct. 1
8976 Daiwa Office   News 543,000 -0.37% 3.97 595,861 0.91 270,343 1,643 May & Nov. 1
8977 Hankyu REIT   News 135,000 -1.17% 4.22 144,472 0.93 80,663 1,556 May & Nov. 7
8984 Daiwa House REIT   News 262,000 -0.38% 3.76 238,452 1.10 442,780 4,121 Feb. & Aug. 7
8985 Japan Hotel   News 78,100 -0.51% 4.53 72,062 1.08 312,237 11,082 Dec. 4
8986 Japan Rental Housing   News 79,200 -1.00% 4.65 79,281 1.00 129,893 7,003 Mar. & Sep. 2
8987 Japan Excellent   News 124,400 -0.16% 4.23 117,098 1.06 162,429 2,574 Jun. & Dec. 1
8963 Invincible   News 48,650 -2.01% 6.23 52,454 0.93 187,829 14,662 Jun. & Dec. 7
3226 Nippon Accommodations   News 442,000 +0.11% 3.71 375,097 1.18 214,159 1,634 Feb. & Aug. 2
3227 MCUBS MidCity   News 325,000 -0.61% 4.92 371,143 0.88 96,403 450 Jun. & Dec. 1
3234 MORI HILLS REIT   News 138,300 +0.58% 3.79 110,133 1.26 242,114 4,255 Jan. & Jul. 1
3249 Industrial & Infrastructure   News 503,000 +0.20% 3.99 375,981 1.34 199,773 832 Jan. & Jul. 8
3269 Advance Residence   News 275,900 +1.28% 3.66 206,028 1.34 372,465 3,629 Jan. & Jul. 2
8979 Starts Proceed   News 148,600 -0.27% 5.62 193,403 0.77 38,157 491 Apr. & Oct. 2
3278 Kenedix Residential   News 275,500 +0.55% 4.70 297,761 0.93 96,174 1,172 Jan. & Jul. 2
3279 Activia Properties   News 472,500 +1.83% 3.92 385,639 1.23 314,314 2,925 May & Nov. 7
3281 GLP J-REIT   News 117,900 -0.25% 4.18 103,202 1.14 336,378 7,350 Feb. & Aug. 5
3282 Comforia Residential   News 231,100 +0.70% 3.99 215,232 1.07 130,270 1,820 Jan. & Jul. 2
3283 Nippon Prologis   News 232,300 -0.94% 3.97 185,383 1.25 442,845 10,539 May & Nov. 5
3287 Hoshino Resorts   News 560,000 -1.41% 4.26 532,571 1.05 96,695 637 Apr. & Oct. 4
3290 ONE REIT   News 217,300 +2.11% 5.48 249,189 0.87 41,134 1,054 Feb. & Aug. 1
3292 AEON REIT   News 122,200 +0.08% 4.80 126,395 0.97 199,908 3,773 Jan. & Jul. 3
3295 Hulic Reit   News 169,100 +0.65% 3.92 156,888 1.08 176,710 3,315 Feb. & Aug. 7
3296 NIPPON REIT   News 290,300 -0.55% 5.52 310,012 0.94 113,728 1,472 Jun. & Dec. 1
3298 Invesco Office   News 102,800 +0.98% 5.66 115,651 0.89 83,838 5,852 Apr. & Oct. 1
3308 Nippon Healthcare   News 165,700 -0.18% 4.95 200,088 0.83 12,367 182 Apr. & Oct. 9
3451 Tosei Reit   News 106,000 -0.75% 6.10 124,464 0.85 19,419 456 Apr. & Oct. 7
3309 Sekisui House Reit   News 130,700 +0.38% 4.13 142,307 0.92 126,648 2,384 Apr. & Oct. 7
3453 Kenedix Retail   News 231,900 -0.56% 5.23 240,089 0.97 117,736 1,852 Mar. & Sep. 3
3455 Healthcare & Medical   News 101,300 -0.69% 5.08 111,600 0.91 19,562 656 Jan. & Jul. 9
3459 Samty Residential   News 86,200 -0.12% 6.09 97,274 0.89 24,395 2,277 Jan. & Jul. 2
3460 Japan Senior Living   News 142,600 -1.72% 4.91 200,881 0.71 12,085 137 Feb. & Aug. 9
3462 Nomura Master   News 151,500 -0.72% 3.89 147,713 1.03 633,744 5,933 Feb. & Aug. 7
3463 Ichigo Hotel REIT   News 114,400 +0.26% 5.33 137,200 0.83 29,468 1,427 Jan. & Jul. 4
3466 LaSalle LOGIPORT REIT   News 110,000 - 4.29 104,800 1.05 121,000 3,678 Feb. & Aug. 5
3468 Star Asia   News 105,700 -0.47% 7.93 106,572 0.99 43,792 3,961 Jan. & Jul. 7
3470 Marimo Regional Revitalization   News 92,000 -0.22% 7.22 113,695 0.81 8,369 447 Jun. & Dec. 7
3471 Mitsui Fudosan Logistics   News 322,500 +0.94% 3.22 273,322 1.18 72,240 852 Jan. & Jul. 5
3472 Ooedo Onsen Reit   News 86,200 +0.23% 5.43 93,834 0.92 15,188 658 May & Nov. 4
3473 SAKURA SOGO REIT   News 82,300 -0.48% 6.69 93,230 0.88 27,406 1,073 Feb. & Aug. 7
3476 MIRAI Corporation   News 169,400 -0.70% 6.02 182,609 0.93 49,761 914 Apr. & Oct. 7
3478 MORI TRUST Hotel   News 149,500 -0.53% 4.03 117,166 1.28 74,750 495 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 ONE REIT +2.11%
2 Activia Properties +1.83%
3 TOKYU REIT +1.42%
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