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.	+21.94%	2.79%	1.40	1,067,472	1,129	71	18.76	4.44%	24.48%	42,140	5.33%	40.8%
8952	Japan Real Estate Investment Corporation	+15.26%	3.02%	1.23	910,083	1,025	73	18.72	4.45%	26.03%	39,660	5.27%	40.5%
8953	Japan Retail Fund Investment Corporation	+8.41%	4.12%	0.99	566,801	909	102	17.00	4.86%	18.45%	35,720	5.18%	45.1%
8954	ORIX JREIT Inc.	+13.34%	3.60%	1.13	546,480	664	109	16.68	5.13%	23.91%	35,600	5.31%	42.7%
8955	Japan Prime Realty Investment Corporation	+18.89%	3.06%	1.41	444,425	435	62	22.88	4.69%	20.15%	36,825	5.62%	40.5%
8956	Premier Investment Corporation	+29.00%	3.88%	1.20	179,243	244	58	22.57	4.81%	12.76%	26,400	5.67%	45.5%
8957	TOKYU REIT, Inc.	+27.06%	3.12%	1.08	182,713	231	31	21.08	4.40%	27.95%	29,150	5.28%	42.5%
8958	Global One Real Estate Investment Corporation	+21.49%	3.48%	1.03	128,892	191	11	15.54	4.05%	17.96%	37,272	4.47%	49.4%
8960	United Urban Investment Corporation	+4.70%	3.82%	1.20	551,138	626	120	23.58	5.62%	21.24%	41,340	6.60%	39.5%
8961	MORI TRUST Sogo Reit, Inc.	+10.57%	4.17%	1.17	232,056	324	15	20.14	4.34%	14.61%	36,680	6.07%	47.2%
8964	Frontier Real Estate Investment Corporation	+5.78%	4.41%	1.11	236,096	321	36	11.76	5.33%	24.66%	41,960	6.66%	33.4%
8966	HEIWA REAL ESTATE REIT, Inc.	+15.58%	3.83%	1.07	127,262	173	104	18.94	5.14%	18.72%	19,200	5.20%	44.1%
8967	Japan Logistics Fund, Inc.	+10.68%	3.79%	1.00	225,092	269	47	12.73	5.39%	40.23%	47,150	6.84%	44.2%
8968	Fukuoka REIT Corporation	+0.98%	4.21%	1.07	139,380	196	29	16.55	5.80%	17.22%	36,900	5.81%	39.7%
8972	Kenedix Office Investment Corporation	+14.48%	3.49%	1.19	332,095	417	96	23.71	4.79%	13.95%	27,020	5.28%	41.9%
8975	Ichigo Office REIT Investment Corporation	+23.12%	4.16%	1.30	155,834	203	85	25.93	5.50%	15.98%	29,645	5.73%	47.6%
8976	Daiwa Office Investment Corporation	+23.74%	3.15%	1.17	387,107	460	59	21.67	4.29%	18.43%	24,800	4.63%	41.5%
8977	Hankyu Hanshin REIT, Inc.	+8.21%	4.16%	0.95	103,515	167	30	15.84	4.95%	17.28%	31,000	5.04%	43.5%
8984	Daiwa House REIT Investment Corporation	-2.19%	4.14%	0.98	528,295	751	229	10.05	5.43%	14.11%	42,160	4.04%	41.3%
8985	Japan Hotel REIT Investment Corporation	+6.70%	4.21%	1.15	390,902	375	43	21.29	6.99%	42.61%	44,232	7.97%	39.0%
8986	Japan Rental Housing Investments Inc.	-3.34%	4.76%	0.93	137,765	221	188	15.28	5.72%	22.68%	16,000	5.85%	50.9%
8987	Japan Excellent, Inc.	+12.07%	3.49%	1.14	210,871	274	31	22.34	4.93%	17.30%	28,150	4.96%	44.4%
8963	Invincible Investment Corporation	+17.79%	5.59%	1.16	337,744	448	131	20.81	6.28%	18.28%	21,898	7.51%	50.5%
3226	Nippon Accommodations Fund Inc.	+20.53%	3.28%	1.36	287,322	312	127	13.46	5.50%	26.36%	38,900	6.79%	50.4%
3227	MCUBS MidCity Investment Corporation	+25.97%	4.38%	1.17	171,378	261	22	24.38	4.26%	3.91%	22,825	6.49%	43.8%
3234	Mori Hills REIT Investment Corporation	+9.03%	3.73%	1.15	285,181	391	11	18.30	3.79%	14.90%	28,400	5.37%	46.2%
3249	Industrial & Infrastructure Fund Investment Corporation	+11.34%	4.47%	1.28	240,690	275	67	21.59	5.75%	18.96%	48,144	7.07%	50.1%
3269	Advance Residence Investment Corporation	+12.10%	3.41%	1.34	425,250	449	265	12.99	5.56%	32.09%	32,184	6.30%	49.9%
8979	Starts Proceed Investment Corporation	+7.08%	5.08%	0.85	44,157	86	106	15.84	5.45%	11.59%	22,100	5.17%	50.7%
3278	Kenedix Residential Next Investment Corporation	+15.47%	4.20%	1.15	169,332	231	141	13.45	5.54%	15.68%	39,215	6.38%	50.3%
3279	Activia Properties Inc.	-2.58%	4.20%	1.10	364,018	500	45	17.76	4.63%	19.00%	39,620	5.97%	44.8%
3281	GLP J-REIT	+2.10%	4.36%	1.07	465,761	608	75	15.60	5.33%	21.32%	42,416	5.73%	44.9%
3282	Comforia Residential REIT, Inc	+18.96%	3.32%	1.28	195,775	227	127	10.40	5.23%	18.94%	40,520	6.09%	51.8%
3283	Nippon Prologis REIT, Inc.	+5.54%	3.67%	1.16	533,153	579	42	7.80	5.51%	24.30%	44,750	5.12%	36.8%
3287	Hoshino Resorts REIT, Inc.	-3.70%	4.82%	1.00	121,359	156	59	22.96	6.72%	12.53%	52,680	5.33%	32.2%
3290	ONE REIT, Inc.	+10.36%	4.96%	1.04	66,694	102	26	29.94	5.43%	13.02%	27,600	6.39%	46.2%
3292	AEON REIT Investment Corporation	+12.68%	4.33%	1.03	246,340	363	39	14.87	6.44%	13.45%	30,000	5.34%	41.4%
3295	Hulic Reit, Inc.	+8.56%	3.71%	1.08	229,934	307	50	20.36	4.59%	16.05%	34,100	5.31%	43.2%
3296	NIPPON REIT Investment Corporation	+32.16%	4.20%	1.26	194,145	249	90	24.53	5.07%	10.87%	36,286	5.84%	46.9%
3298	Invesco Office J-REIT, Inc.	+21.30%	4.27%	1.14	158,140	228	19	22.88	5.02%	12.65%	30,360	6.82%	49.4%
3308	Nippon Healthcare Investment Corporation	+1.29%	4.90%	0.86	12,874	20	23	11.26	6.23%	25.88%	42,300	4.66%	46.5%
3451	Tosei Reit Investment Corporation	+4.66%	5.96%	0.93	33,028	57	37	25.49	6.12%	14.10%	34,800	6.46%	46.6%
3309	Sekisui House Reit, Inc.	+11.34%	3.98%	1.07	343,219	457	115	9.57	4.38%	10.45%	32,000	5.98%	43.3%
3453	Kenedix Retail REIT Corporation	+7.11%	4.84%	1.05	134,591	214	55	14.84	5.34%	6.71%	32,110	5.65%	44.6%
3455	Healthcare & Medical Investment Corporation	+12.51%	5.61%	1.07	38,035	65	35	14.76	5.56%	7.22%	34,285	5.27%	50.6%
3459	Samty Residential Investment Corporation	+12.32%	5.94%	1.11	54,241	94	97	9.01	5.60%	5.02%	31,970	5.73%	51.0%
3462	Nomura Real Estate Master Fund, Inc.	+5.75%	3.88%	1.06	752,123	1,009	288	18.65	5.19%	11.28%	32,100	4.09%	44.5%
3463	Ichigo Hotel REIT Investment Corporation	-5.05%	5.01%	0.87	32,152	53	22	26.35	6.19%	10.84%	31,605	8.41%	38.8%
3466	LaSalle LOGIPORT REIT	+15.07%	4.96%	1.15	153,607	190	11	12.92	4.94%	8.36%	31,630	5.19%	43.6%
3468	Star Asia Investment Corporation	+9.24%	5.41%	1.03	62,682	103	34	20.80	5.05%	7.77%	31,350	7.41%	47.1%
3470	Marimo Regional Revitalization REIT,Inc.	+2.05%	5.75%	0.97	15,775	25	26	13.63	6.83%	16.64%	34,275	6.21%	47.7%
3471	Mitsui Fudosan Logistics Park Inc.	+6.63%	3.57%	1.16	137,198	157	16	4.43	5.38%	10.67%	25,814	4.11%	26.8%
3472	Ooedo Onsen Reit Investment Corporation	-3.67%	5.67%	0.82	19,746	37	14	38.14	7.23%	9.42%	23,800	5.43%	40.9%
3473	SAKURA SOGO REIT Investment Corporation	-0.43%	5.53%	0.94	30,503	56	17	22.74	5.46%	5.66%	25,305	5.83%	44.8%
3476	MIRAI Corporation	+4.92%	5.81%	1.06	77,579	145	29	21.03	4.84%	3.28%	28,500	6.19%	48.7%
3478	MORI TRUST Hotel Reit,Inc.	-5.69%	4.54%	1.06	69,600	102	4	12.27	4.13%	15.48%	31,600	6.04%	46.1%
3481	Mitsubishi Estate Logistics REIT Investment Corporation	+2.45%	3.98%	1.02	67,820	83	10	7.42	4.95%	6.46%	21,968	3.80%	22.5%
3487	CRE Logistics REIT,Inc.	+4.37%	4.93%	1.02	27,576	48	7	2.45	5.27%	6.71%	29,400	5.52%	47.7%
3488	XYMAX REIT Investment Corporation	+9.72%	4.67%	0.89	27,992	33	12	16.76	6.70%	26.28%	29,240	6.93%	31.8%
3492	Takara Leben Real Estate Investment Corporation	+9.70%	6.17%	0.94	33,997	65	28	26.03	5.38%	6.57%	30,350	7.14%	47.8%
3493	ITOCHU Advance Logistics Investment Corporation	+6.13%	4.59%	0.91	35,857	59	8	2.95	5.71%	7.11%	23,025	1.91%	37.0%
2971	ESCON JAPAN REIT Investment Corporation	+7.61%	5.93%		25,122	42	25	17.36		7.98%	31,410
2972	SANKEI REAL ESTATE Inc.	+8.94%	3.27%		26,284	43	8	15.93			17,910

What's New

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
Feb. 15, 2018
3488 XYMAX REIT Investment Corporation 2/15 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	Shiodome Building	72

Unit Price Growth Rankings

1	Daiwa Office	+1.55%
2	Invesco Office	+1.54%
3	AEON REIT	+1.32%