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 Jan. 30, 2023

Average Dividend Yield of All J-REITs (Day-on-Day) Total Equity Market Capitalization of All J-REITs (Day-on-Day)
4.00% (-0.01) 15,584,302million JPY (+51,843million JPY)

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

CodeREITPrice on Jan. 30
(JPY)
% changeDividend yield
(%)
NAV per unit
(JPY)
P/NAVMarket cap
(million JPY)
Trading volume
(units)
Settlement month Sector
8951 Nippon Building   News 581,000 +0.52% 3.96 591,806 0.98 988,276 2,787 Jun. & Dec. 1
8952 Japan Real Estate   News 574,000 +1.06% 3.95 593,849 0.97 795,111 2,001 Mar. & Sep. 1
8953 Japan Metropolitan   News 103,200 +0.49% 4.39 108,738 0.95 721,274 10,155 Feb. & Aug. 7
8954 ORIX JREIT   News 182,200 +0.66% 4.17 195,756 0.93 502,872 4,503 Feb. & Aug. 7
8955 Japan Prime Realty   News 364,500 +0.69% 4.17 390,909 0.93 363,471 1,212 Jun. & Dec. 7
8956 NTT UD REIT   News 136,800 +0.44% 3.92 144,574 0.95 191,744 2,015 Apr. & Oct. 8
8957 TOKYU REIT   News 199,500 -1.24% 3.73 204,489 0.98 195,031 2,313 Jan. & Jul. 7
8958 Global One   News 108,800 +0.55% 5.42 134,917 0.81 111,283 2,858 Mar. & Sep. 1
8960 United Urban   News 153,500 +0.46% 4.12 161,714 0.95 475,634 5,927 May & Nov. 7
8961 MORI TRUST   News 149,000 +0.88% 4.02 150,018 0.99 196,680 1,380 Mar. & Sep. 7
8964 Frontier   News 515,000 +0.78% 4.27 458,285 1.12 278,615 775 Jun. & Dec. 3
8966 HEIWA   News 154,700 +0.65% 4.06 137,291 1.13 172,294 1,292 May & Nov. 7
8967 Japan Logistics   News 302,000 -0.66% 3.42 302,087 1.00 282,068 1,647 Jan. & Jul. 5
8968 Fukuoka REIT   News 168,900 +0.30% 4.18 178,349 0.95 134,444 766 Feb. & Aug. 7
8972 Kenedix Office   News 314,000 -0.16% 4.62 393,664 0.80 266,407 1,883 Apr. & Oct. 1
8975 Ichigo Office REIT   News 85,900 +0.12% 7.04 89,042 0.96 129,998 6,740 Apr. & Oct. 1
8976 Daiwa Office   News 629,000 +0.32% 4.36 784,878 0.80 300,824 955 May & Nov. 1
8977 Hankyu Hanshin REIT   News 146,500 +0.48% 3.98 167,692 0.87 101,847 654 May & Nov. 7
8984 Daiwa House REIT   News 286,100 +1.17% 3.91 306,628 0.93 663,752 3,303 Feb. & Aug. 7
8985 Japan Hotel   News 83,800 +0.72% 0.81 75,234 1.11 374,335 24,462 Dec. 4
8986 Daiwa Securities Living    News 109,900 +0.09% 4.00 110,613 0.99 248,472 3,490 Mar. & Sep. 8
8987 Japan Excellent   News 127,600 +1.03% 4.39 164,904 0.77 170,678 1,669 Jun. & Dec. 1
8963 Invincible   News 56,400 +1.26% 3.19 52,651 1.07 343,862 49,162 Jun. & Dec. 4
3226 Nippon Accommodations   News 591,000 +0.68% 3.49 571,821 1.03 297,552 719 Feb. & Aug. 2
3234 MORI HILLS REIT   News 151,400 -1.24% 4.02 160,754 0.94 290,132 2,629 Jan. & Jul. 1
3249 Industrial & Infrastructure   News 147,100 -1.80% 4.17 132,666 1.11 304,499 6,755 Jan. & Jul. 8
3269 Advance Residence   News 325,000 -1.22% 3.52 308,703 1.05 450,125 3,984 Jan. & Jul. 2
8979 Starts Proceed   News 230,300 +0.66% 4.41 230,248 1.00 65,054 301 Apr. & Oct. 2
3278 Kenedix Residential   News 197,500 -1.10% 4.21 206,120 0.96 211,411 2,400 Jan. & Jul. 7
3279 Activia Properties   News 398,500 +0.38% 4.68 456,487 0.87 323,807 1,641 May & Nov. 7
3281 GLP J-REIT   News 148,400 +0.88% 3.88 149,293 0.99 699,282 9,709 Feb. & Aug. 5
3282 Comforia Residential   News 295,700 -0.07% 3.73 305,637 0.97 211,716 3,060 Jan. & Jul. 2
3283 Nippon Prologis   News 300,500 +0.74% 3.29 262,892 1.14 826,224 5,041 May & Nov. 5
3287 Hoshino Resorts   News 759,000 +2.02% 2.20 547,396 1.39 193,969 915 Apr. & Oct. 4
3290 ONE REIT   News 251,100 +0.80% 5.09 287,623 0.87 67,412 648 Feb. & Aug. 1
3292 AEON REIT   News 147,200 -1.14% 4.50 149,257 0.99 300,946 9,392 Jan. & Jul. 3
3295 Hulic Reit   News 157,200 +0.45% 4.43 183,956 0.85 226,368 2,653 Feb. & Aug. 7
3296 NIPPON REIT   News 337,000 +0.30% 4.90 413,277 0.82 151,626 678 Jun. & Dec. 7
3451 Tosei Reit   News 132,700 +0.53% 5.38 147,797 0.90 47,972 628 Apr. & Oct. 7
3309 Sekisui House Reit   News 72,500 +0.55% 4.68 88,840 0.82 317,657 5,697 Apr. & Oct. 7
3453 Kenedix Retail   News 249,100 +0.32% 5.06 263,224 0.95 150,002 1,173 Mar. & Sep. 3
3455 Healthcare & Medical   News 166,700 +0.36% 4.05 127,102 1.31 59,929 2,226 Jan. & Jul. 9
3459 Samty Residential   News 110,700 -0.72% 4.94 114,405 0.97 92,847 1,415 Jan. & Jul. 2
3462 Nomura Master   News 152,200 -0.33% 4.32 178,862 0.85 717,653 12,399 Feb. & Aug. 7
3463 Ichigo Hotel REIT   News 115,200 +0.17% 2.47 130,082 0.89 29,373 1,018 Jan. & Jul. 4
3466 LaSalle LOGIPORT REIT   News 158,900 +0.63% 3.87 153,856 1.03 283,637 2,409 Feb. & Aug. 5
3468 Star Asia   News 53,900 -2.18% 5.49 55,929 0.96 103,579 4,923 Jan. & Jul. 7
3470 Marimo Regional Revitalization   News 126,500 +0.32% 5.69 136,616 0.93 29,738 885 Jun. & Dec. 7
3471 Mitsui Fudosan Logistics   News 453,500 +0.78% 3.67 450,388 1.01 261,216 1,633 Jan. & Jul. 5
3472 Ooedo Onsen Reit   News 62,500 +0.97% 4.43 110,382 0.57 14,709 347 May & Nov. 4
3476 MIRAI Corporation   News 44,900 +0.56% 5.31 51,177 0.88 79,538 3,375 Apr. & Oct. 7
3478 MORI TRUST Hotel   News 136,000 +0.37% 1.97 138,204 0.98 68,000 576 Feb. & Aug. 4
3481 Mitsubishi Estate Logistics   News 413,500 +1.35% 3.74 376,294 1.10 208,191 847 Feb. & Aug. 5
3487 CRE Logistics    News 178,800 -0.33% 4.06 164,202 1.09 100,968 1,168 Jun. & Dec. 5
3488 XYMAX REIT    News 119,200 +1.27% 5.18 143,869 0.83 29,758 571 Feb. & Aug. 7
3492 Takara Leben REIT   News 99,000 +1.02% 5.32 110,767 0.89 63,221 1,496 Feb. & Aug. 7
3493 Advance Logistics   News 143,200 +1.13% 3.90 142,919 1.00 96,574 1,886 Feb. & Aug. 5
2971 ESCON JAPAN REIT   News 116,700 -4.19% 7.23 117,745 0.99 41,075 4,043 Jan. & Jul. 8
2972 SANKEI REAL ESTATE   News 89,700 -0.11% 5.15 122,093 0.73 41,899 933 Feb. & Aug. 1
2979 SOSiLA Logistics    News 132,000 +0.84% 4.08 128,675 1.03 96,030 1,995 May & Nov. 5
2989 Tokaido REIT   News 122,400 +0.66% 5.33 108,414 1.13 21,640 3,743 Jan. & Jul. 7

• 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)

• Sekisui House SI Residential Investment Corporation (8973): Delisted on April 25, 2018 → Merged with Sekisui House Reit, Inc. on May 1, 2018

• Nippon Healthcare Investment Corporation (3308): Delisted on March 30, 2020→ Merged with Japan Rental Housing Investments Inc. on April 1, 2020 (trade name changed to Daiwa Securities Living Investment Corporation)

ReitInfo.com

Property Acquisition Price Rankings

(Billions of yen)

1 Shinjuku Mitsui Bldg. 170
2 Roppongi Hills Mori Tower 115
3 IIDABASHI GRAND BLOOM 114
4 Shiodome Building 107
5 Tokyo Shiodome Building 83
Unit Price Growth Rankings
1 Hoshino Resorts +2.02%
2 Mitsubishi Estate Logistics +1.35%
3 XYMAX REIT +1.27%
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