Heiwa Real Estate REIT: Securities Report (Domestic Investment Securities) - The 45th Term (2023/12/01 - 2024/05/31)
Heiwa Real Estate Investment Trust Research Memo (7): Investor evaluations are expected to further increase with the continued growth of distribution.
The investment unit price of Heiwa Real Estate REIT Investment Corporation <8966> has generally been on the rise since 2017, but it fell sharply in March 2020 due to widespread concerns about the economy and corporate performance in the midst of the COVID-19 pandemic. Subsequently, with the progress of measures against COVID-19 and expectations of economic recovery, the investment unit price has recovered significantly. However, recently, there is uncertainty about financial policies, the economy, and the real estate rental market, and the investment unit price has generally remained flat, compared to domestic stocks.
Heiwa Real Estate Investment Trust Research Memo (4): Financial estimates expect an increase in dividends for the November 2024 and May 2025 periods.
Outlook for Heiwa Real Estate Investment Trust <8966> Performance forecast for the fiscal years ending in November 2024 and May 2025. In the November 2024 period (46th fiscal year), expected operating revenue of 87.71 billion yen (+0.4% compared with the previous period), operating profit of 44.45 billion yen (-0.8% year-on-year), ordinary profit of 38.59 billion yen (-2.0% year-on-year), and net income of 38.58 billion yen (-2.0% year-on-year). Asset replacement with realization of latent gains continues, and the transfer of one already confirmed office property will contribute.
Heiwa Real Estate REIT Investment Corporation Research Memo (3): Distribution for May 2024 period updates the highest record.
Performance trend of Heiwa Real Estate Investment Trust <8966>: For the fiscal year ending in May 2024 (45th period), the operating revenue was ¥ 873.5 million (+ 0.9% YoY), operating profit was ¥ 448.3 million (-0.3% YoY), ordinary profit was ¥ 393.9 million (-1.4% YoY), and net income was ¥ 393.8 million (-1.4% YoY). Rental income increased due to high occupancy and rental growth in both office and residence areas. Valuation-enhancing investments have been executed.
Heiwa Real Estate Investment Trust Research Memo (2): REITs for office and residence complexes in central Tokyo.
■ Features and advantages: 1. Overview: Heiwa Real Estate Investment Trust <8966> is an office and residence complex REIT centered around Tokyo’s metropolitan area. It was established as the predecessor, Cresent Investment Trust in January 2002. In March 2005, it was newly listed on the Tokyo Stock Exchange Real Estate Investment Trust Securities (J-REIT) market. In October 2010, it merged with Japan Single Residence Investment Trust, and the name was changed to Heiwa Real Estate Investment Trust, which continues to this day. In addition,
Heiwa Real Estate REIT Investment Corporation-- Pursuing the improvement of sustainable investment value for shareholders.
Heiwa Real Estate Investment Trust <8966> is an investment trust of Heiwa Real Estate <8803> group, which invests intensively in offices and residences with a combination of small and medium-sized businesses that are concentrated in the central area of Tokyo where the population continues to grow. With dealer offices and office buildings throughout Japan, it widely develops developer businesses such as redevelopment projects that promote the redevelopment of Nihonbashi Koamachi, Chiyoda-ku and Sapporo. Heiwa Real Estate's experience and expertise are maximized.