銘柄情報

GLP J-REIT

Logistics facility REIT sponsored by foreign-owned GLP Group. It regards rental logistics facilities with large-scale and functional designs as "advanced logistics facilities", and invests mainly in them. The investment areas are those adjacent to airports and trade ports and areas along networks joining consuming areas together, as well as logistics complexes in production and consumption areas. It invests mainly in the Kanto and Kansai regions, but also in other areas to diversify the investment. One strength of this REIT is that it makes the most of the value chain of GLP Group.

  • Unit Price and Trading Volume 拡大

  • Unit Yield, Sector Average and Overall Average 拡大

2022/10/12Update

投資指標の計算式について

Investment amount per unit

Unitholders' capital / Number of investment units authorized

NAV per unit

((Unitholders' capital + Investment surplus) + (Portforio assets appraisal value - ortfolio assets book value) / Number of investment units authorized

P/NAV

Investment unit price / NAV per unit

FFO per unit

(Net income + depreciation + profit and loss on real estate) / Number of investment units authorized

P/FFO

Investment unit price / FFO per unit

NOI

Rental business income + depreciation

NOI yield

NOI / Portfolio assets book value

Implied cap rate

NOI / (Market capitalization + (Interest-bearing liabilities - cash on hand and in bank) + Security and guarantee deposits received

Market capitalization

Investment unit price * Number of investment units authorized

LTV

Interest-bearing liabilities / Total assets

DSCR

NOI / (Interest-bearing liabilities at end of previous period - Interest-bearing liabilities at end of current period + current interest expense)

EV / EBITDA

Market capitalization + (Interest-bearing liabilities - cash on hand and in bank) / NOI

Ratio of long-term fixed interest rate

Long-term fixed interest / Interest-bearing liabilities

Corporate Data

Investment Corporation Name GLP J-REIT
Abbreviation GLP
Securities code 3281(JPX)
Listing date 2012/12/21
Time elapsed 9.94 year
Closing months February / August
URL http://www.glpjreit.com/
Unitholders' capital 403,779Million JPY
Number of investment units authorized 4,490,369Unit
Investment amount per unit 89,921JPY
Rating JCR:AA 
Type of assets under management Logistics Facirity REIT Logistics:100%
Management target regions
Tokyo Metropolitan Area:67.0% Greater Osaka Area:20.6% Others:12.3%
Number of investment properties 85
Number of tenants 168
Total leasable floor space 3,240,851.74㎡

Investment Index Information

NAV per Unit 302,972JPY
Unit Price / NAV per Unit 0.51
FFO per Unit 4,949JPY
Unit Price / FFO per Unit 31.22
NOI Yield 37.30%
Implied Cap Rate 2.64%
Market capitalization 693,762Million JPY
Acquisition book value 778,098Million JPY
Term-end book value 74,027Million JPY
Appraisal value 1,014,247Million JPY
Interest-bearing liabilities 346,520Million JPY
LTV 38.38%
EV / EBITDA 34.63
Average maturity of borrowings
Ratio of long-term fixed interest rate
Average occupancy rate 99.2%
Average age of buildings 17.25year

Investment Management Policies

  • Its main investment target is large-scale (total floor area of 10,000 ㎡ or more) and highly functional leasable logistics facilities, which are particularly scarce among logistics facilities and are expected to experience increasing demand in the future, and are positioned as "advanced logistics facilities." Among these, as one its concrete criteria for assessing functionality, this REIT has set the conditions of "more than 50% of the gross floor area with a floor-to-ceiling height of 5.5 meters or more and a floor load tolerance of 1.5 tons/㎡ or more," and follows the policy of investing mostly in logistics facilities that meet these conditions.
  • Its main investment areas are the Kanto region and the Kansai region, and it aims to build a stable portfolio by also distributing investments over other regions. Its investment ratio is 50% to 70% in the Kanto region, 20% to 40% in the Kansai region, and 5% to 20% in other regions.

Other Related Corporations

Asset Manager GLP Japan Advisors Inc.
Update 2022/10/12 Capital 110Million JPY
Major Shareholders 100% GLP Japan Inc. Other Shareholders

Account Settlement InformationFY2022-8(Million JPY)

19th 20th 21th
(most recent)
22th forecast 23th forcast
Revised Date Revised Date
Operating revenue 23,855 24,786 24,875 24,132 24,824
Operating income 13,062 14,249 13,090 12,252 12,376
Ordinary income 11,763 12,937 11,760 10,868 10,937
Net income 11,761 8,519 16,456 11,099 11,168
Short-term borrowings 36,160 34,200 42,200
Long-term borrowings 265,660 258,320 250,320
Investment corporation bonds 44,700 54,000 8,550
Total assets 785,480 781,668 784,470
Net assets 415,543 410,375 412,602
Distribution per unit 3,048
JPY/per Unit
3,169
JPY/per Unit
3,051
JPY/per Unit
2,714
JPY/per Unit
2,702
JPY/per Unit

Other Affiliated Companies

Asset custodian Mitsubishi UFJ Trust and Banking Corporation Accounting auditor KPMG AZSA LLC
Accounting services Mitsubishi UFJ Trust and Banking Corporation Unitholders registry administrator Mitsubishi UFJ Trust and Banking Corporation
Tax administration services Mitsubishi UFJ Trust and Banking Corporation Investment corporation bond administrator Sumitomo Mitsui Banking Corporation/MUFG Bank, Ltd./Mitsubishi UFJ Trust and Banking Corporation
PAGE TOP
* This site has been created merely to provide information to investors, and not to solicit any person to make an investment with us.
* This site has been created using information that we have judged to be reliable, but we shall not guarantee its accuracy and/or integrity.
Note also that the information contained on this site is subject to change or deletion without prior notice.
* Numeric values, graphs, and other information contained on this site are based on past performance and situations, and do not constitute a suggestion or guarantee of any future market environments, investment performance, or so on.
We do not take fees, taxes, or other charges into consideration, and do not indicate any substantial investment performance.
* We shall not accept any responsibility for any damages, whether they be direct or indirect, that may be incurred as a result of the information contained on this site.
* Copyrights and other intellectual property rights to the information contained on this site shall, in principle, belong to us. No information contained on this site may be transferred or reproduced in any way without our consent.