Rankings

This page contains the top five J-REITs ranked by price, portfolio, and financial categories, further broken down into subcategories.

Definition of Ranking Categories

<% Change in Unit Price>
The percentage change in the investment unit price over a one-year period
The investment unit price represents the daily closing price on the Tokyo Stock Exchange.

<Asset Size>
The total acquisition cost of owned properties as of the end of the month is applied on the 15th of the following month (the next business day if the 15th is a holiday).

<Age of Properties>
The age of owned properties as of the end of the month (weighted average of acquisition amount) is applied on the 15th of the following month (the next business day if the 15th is a holiday).

<Ratio of Appraisal Gains or Losses>
The ratio of appraisal gains or losses on owned real estate at the end of a period (appraisal value of real estate portfolio / book value of real estate portfolio – 1)
Data from J-REIT earnings reports are applied on the 15th of the following month after the publicly release of the each J-REIT’s earnings report (the next business day if the 15th is a holiday).
Note: Not calculated for J-REITs that do not report earnings data after listing.

<Return on Equity (ROE)>
Data from J-REIT earnings reports are applied on the 15th of the following month (the next business day if the 15th is a holiday).

Note: Not calculated for J-REITs that do not report earnings data after listing.

% Change in Unit Price
Dividend Yield
P/NAV
Market Cap
Asset Size
Age of Properties
NOI Yield
Ratio of Appraisal Gains or Losses
Annual Dividends
ROE
Loan to value

Code	REIT	% Change in Unit Price	Dividend Yield	P/NAV	Market Cap (million JPY)	Asset Size (billion JPY)	# of Buildings	Age of Properties	NOI Yield	Ratio of Appraisal Gains or Losses	Annual Dividends (JPY)	ROE	LTV
8951	Nippon Building Fund Inc.	-9.23%	3.26%	1.17	930,508	1,133	71	19.53	4.53%	26.94%	42,940	5.69%	41.6%
8952	Japan Real Estate Investment Corporation	-3.96%	3.56%	1.09	840,822	1,024	72	19.52	4.50%	29.49%	43,200	5.81%	40.4%
8953	Japan Retail Fund Investment Corporation	-47.08%	8.05%	0.52	299,239	877	100	17.61	4.34%	19.39%	36,800	5.86%	44.9%
8954	ORIX JREIT Inc.	-26.95%	5.26%	0.77	383,088	679	112	17.30	5.25%	26.09%	36,500	5.79%	43.1%
8955	Japan Prime Realty Investment Corporation	-24.34%	4.63%	0.89	317,181	443	64	23.35	4.71%	26.09%	38,275	5.73%	40.8%
8956	Premier Investment Corporation	-24.29%	5.40%	0.82	137,494	244	58	23.38	4.95%	21.14%	28,200	5.84%	44.8%
8957	TOKYU REIT, Inc.	-24.34%	5.16%	0.68	126,990	231	32	21.75	4.46%	36.17%	33,500	5.07%	42.2%
8958	Global One Real Estate Investment Corporation	-30.69%	5.53%	0.64	83,203	191	11	16.35	4.02%	19.57%	38,240	5.37%	46.9%
8960	United Urban Investment Corporation	-38.42%	6.30%	0.69	339,899	655	124	24.14	5.58%	23.85%	41,220	5.71%	39.9%
8961	MORI TRUST Sogo Reit, Inc.	-28.60%	6.11%	0.77	160,776	324	15	20.95	4.36%	17.78%	37,240	6.11%	47.2%
8964	Frontier Real Estate Investment Corporation	-33.59%	6.91%	0.71	159,593	332	36	12.35	5.08%	23.15%	42,480	6.71%	36.6%
8966	HEIWA REAL ESTATE REIT, Inc.	-24.20%	5.32%	0.76	96,309	176	105	19.77	5.15%	22.59%	20,200	5.23%	44.4%
8967	Japan Logistics Fund, Inc.	+2.26%	6.06%	0.93	217,218	278	50	13.11	5.65%	41.61%	72,750	6.40%	44.8%
8968	Fukuoka REIT Corporation	-37.75%	7.05%	0.62	83,102	196	29	17.36	5.70%	18.57%	36,800	5.72%	39.7%
8972	Kenedix Office Investment Corporation	-31.08%	5.37%	0.73	223,254	434	99	24.66	4.83%	20.63%	27,960	5.06%	42.1%
8975	Ichigo Office REIT Investment Corporation	-33.67%	6.44%	0.80	101,744	203	85	26.73	5.54%	19.81%	29,911	6.78%	48.0%
8976	Daiwa Office Investment Corporation	-26.53%	4.80%	0.78	277,911	464	60	22.42	4.46%	24.32%	27,100	5.06%	42.1%
8977	Hankyu Hanshin REIT, Inc.	-24.19%	5.72%	0.66	76,681	167	30	16.65	4.91%	19.81%	31,550	5.09%	43.6%
8984	Daiwa House REIT Investment Corporation	+1.14%	4.38%	0.94	546,365	746	225	10.77	5.23%	14.43%	43,600	3.93%	41.5%
8985	Japan Hotel REIT Investment Corporation	-59.23%	10.31%	0.44	159,752	375	43	22.10	6.66%	40.50%	44,280	6.46%	40.6%
8986	Daiwa Securities Living Investment Corporation	+3.70%	4.79%	0.95	184,418	228	193	15.67	5.71%	25.72%	17,200	6.19%	50.9%
8987	Japan Excellent, Inc.	-26.14%	5.09%	0.77	158,301	288	35	22.18	4.95%	21.80%	29,800	3.13%	44.9%
8963	Invincible Investment Corporation	-50.76%	13.08%	0.49	161,200	512	147	23.62	5.88%	18.93%	22,732	8.89%	49.6%
3226	Nippon Accommodations Fund Inc.	+9.17%	3.22%	1.34	294,105	310	126	14.29	5.41%	29.40%	39,080	7.89%	51.0%
3227	MCUBS MidCity Investment Corporation	-33.23%	6.08%	0.68	119,358	288	25	24.53	4.45%	8.37%	20,350	4.31%	42.2%
3234	Mori Hills REIT Investment Corporation	-7.54%	4.22%	0.96	257,432	391	11	19.11	3.82%	20.44%	28,950	5.52%	45.7%
3249	Industrial & Infrastructure Fund Investment Corporation	+13.30%	4.12%	1.26	262,638	301	72	22.12	5.85%	19.49%	46,040	7.38%	49.9%
3269	Advance Residence Investment Corporation	+1.46%	3.58%	1.19	433,505	453	269	13.72	5.70%	39.97%	33,600	6.51%	49.9%
8979	Starts Proceed Investment Corporation	+4.15%	5.43%	0.88	47,152	87	106	16.49	5.49%	14.24%	25,215	5.33%	50.8%
3278	Kenedix Residential Next Investment Corporation	-1.60%	4.72%	0.98	163,807	239	146	14.17	5.61%	19.53%	40,655	6.36%	49.4%
3279	Activia Properties Inc.	-30.41%	6.16%	0.72	247,949	530	45	18.88	4.41%	19.66%	39,620	6.09%	45.5%
3281	GLP J-REIT	+6.28%	4.09%	1.10	486,844	608	75	16.41	5.25%	23.41%	41,584	5.99%	44.7%
3282	Comforia Residential REIT, Inc	+3.91%	3.56%	1.13	199,875	237	129	10.87	5.27%	23.64%	42,320	5.90%	50.1%
3283	Nippon Prologis REIT, Inc.	+13.58%	3.47%	1.20	664,053	701	49	7.32	5.38%	25.95%	46,660	4.98%	37.8%
3287	Hoshino Resorts REIT, Inc.	-31.88%	7.08%	0.67	82,976	162	61	23.25	6.67%	12.65%	52,948	5.49%	35.7%
3290	ONE REIT, Inc.	-20.27%	7.04%	0.79	52,084	104	26	30.80	5.40%	14.40%	30,560	6.34%	46.3%
3292	AEON REIT Investment Corporation	-20.43%	5.96%	0.75	196,324	391	41	15.07	6.48%	16.70%	31,250	5.59%	41.4%
3295	Hulic Reit, Inc.	-35.69%	6.02%	0.68	153,898	332	55	21.86	4.49%	17.03%	35,320	5.18%	44.3%
3296	NIPPON REIT Investment Corporation	-31.71%	6.39%	0.76	127,510	249	90	25.34	5.12%	16.20%	36,208	6.08%	46.9%
3298	Invesco Office J-REIT, Inc.	-23.55%	6.11%	0.74	114,711	229	19	23.70	5.05%	18.95%	31,480	6.04%	49.4%
3451	Tosei Reit Investment Corporation	-20.63%	7.56%	0.70	31,598	69	49	26.72	6.13%	15.83%	35,500	6.69%	46.8%
3309	Sekisui House Reit, Inc.	-19.17%	4.88%	0.82	285,625	528	120	10.44	4.31%	13.88%	32,530	5.13%	44.6%
3453	Kenedix Retail REIT Corporation	-41.51%	8.49%	0.60	82,196	226	62	15.00	5.13%	7.23%	32,530	5.63%	44.9%
3455	Healthcare & Medical Investment Corporation	+1.07%	5.53%	0.95	35,299	65	35	15.57	5.78%	7.48%	31,375	6.31%	47.5%
3459	Samty Residential Investment Corporation	-11.35%	6.47%	0.85	51,378	110	118	10.13	5.48%	5.63%	28,050	7.24%	51.6%
3462	Nomura Real Estate Master Fund, Inc.	-13.73%	4.86%	0.85	643,153	1,031	294	19.09	5.08%	12.42%	33,170	3.86%	43.9%
3463	Ichigo Hotel REIT Investment Corporation	-54.59%	7.71%	0.42	15,018	51	22	25.33	6.24%	9.08%	22,720	5.01%	43.0%
3466	LaSalle LOGIPORT REIT	+31.81%	3.87%	1.22	195,999	247	16	11.94	4.72%	9.64%	27,840	6.01%	43.5%
3468	Star Asia Investment Corporation	-28.05%	8.64%	0.66	41,481	103	34	21.60	4.99%	10.03%	33,130	7.24%	46.8%
3470	Marimo Regional Revitalization REIT,Inc.	-22.89%	8.11%	0.67	13,115	30	31	14.54	6.81%	20.03%	34,850	6.32%	49.3%
3471	Mitsui Fudosan Logistics Park Inc.	+33.48%	3.10%	1.30	200,435	188	17	4.97	5.40%	11.29%	28,214	4.06%	29.1%
3472	Ooedo Onsen Reit Investment Corporation	-38.59%	8.06%	0.50	12,473	37	14	38.95	7.16%	11.81%	21,365	5.32%	40.3%
3473	SAKURA SOGO REIT Investment Corporation	-24.08%	6.29%	0.64	21,945	58	18	23.40	5.37%	8.75%	20,726	4.66%	46.3%
3476	MIRAI Corporation	-24.14%	8.44%	0.76	62,417	151	32	22.77	4.73%	6.03%	31,700	6.92%	48.8%
3478	MORI TRUST Hotel Reit,Inc.	-35.43%	7.89%	0.63	43,200	109	5	13.64	4.20%	18.49%	34,100	6.19%	45.5%
3481	Mitsubishi Estate Logistics REIT Investment Corporation	+30.97%	3.52%	1.19	103,213	114	15	7.67	4.91%	8.27%	23,732	3.87%	22.5%
3487	CRE Logistics REIT,Inc.	+11.38%	5.11%	0.98	42,816	74	13	4.59	4.91%	8.89%	31,515	4.91%	47.7%
3488	XYMAX REIT Investment Corporation	-27.25%	6.89%	0.61	19,860	33	12	17.57	5.83%	29.48%	30,620	5.81%	31.9%
3492	Takara Leben Real Estate Investment Corporation	-17.19%	8.15%	0.72	35,428	86	35	21.78	4.50%	6.53%	31,200	9.58%	49.5%
3493	ITOCHU Advance Logistics Investment Corporation	+5.98%	4.66%	0.91	50,836	78	9	3.22	5.25%	10.73%	24,395	4.09%	39.5%
2971	ESCON JAPAN REIT Investment Corporation	-15.14%	7.83%	0.75	24,421	52	28	13.27	5.78%	10.05%	33,765	5.73%	43.7%
2972	SANKEI REAL ESTATE Inc.	-19.65%	5.74%	0.75	29,329	67	11	16.30	4.70%	6.33%	23,580	1.82%	45.8%
2979	SOSiLA Logistics REIT,Inc.		3.92%		60,076	77	7	2.43			22,917

What's New

Dec. 10, 2019
2979 SOSiLA Logistics REIT, Inc. 12/10 Listing on TSE REIT Market
Mar. 12, 2019
2972 SANKEI REAL ESTATE Inc. 3/12 Listing on TSE REIT Market
Sep. 27, 2018
9285 Tokyo Infrastructure Energy Investment Corporation 9/27 Listing on TSE REIT Market
Sep. 7, 2018
3493 ITOCHU Advance Logistics Investment Corporation 9/7 Listing on TSE REIT Market
Jul. 27, 2018
3492 Takara Leben Real Estate Investment Corporation 7/27 Listing on TSE REIT Market

J-REIT News

Feb. 10, 2015: Kenedix Retail REIT Corporation: Listing on TSE REIT Market
Feb. 6, 2015: Nippon Accommodations Fund Inc.: Issuance of New Investment Units and Secondary Offering of Investment Units, Acquisition of 4 Properties
Jan. 23, 2015: Daiwa Office Investment Corporation: Financial Results for the 18th Fiscal Period
Jan. 22, 2015: Hankyu REIT, Inc.: Financial Results for the 19th Fiscal Period
Jan. 22, 2015: AEON REIT Investment Corporation: Issuance of New Investment Units and Secondary Offering of Investment Units, Acquisition of 6 Retail Properties

Property Acquisition Price Rankings

(Billions of yen)

1	Roppongi Hills Mori Tower	115
2	Tokyo Shiodome Building	110
3	Shiodome Building	107
4	Kitanomaru Square	82
5	Garden City Shinagawa Gotenyama	72

Unit Price Growth Rankings

1	Japan Hotel	+12.05%
2	Ichigo Hotel REIT	+10.30%
3	Hoshino Resorts	+8.09%