銘柄情報

Hoshino Resorts REIT, Inc.

Hotel REIT sponsored by Hoshino Resort. It selects the assets in which to invest from two viewpoints, namely, "software superiority" and "hardware superiority". It promotes the diversification effect of the portfolio by investing mainly in the hotels and inns operated by the sponsor’s group and by investing aggressively in properties operated by external operators. By making the most of the sponsor group’s high expertise in facilities management, it maintains the competitive edge of its operating assets and aims for stable operation.

  • Unit Price and Trading Volume 拡大

  • Unit Yield, Sector Average and Overall Average 拡大

2021/12/15Update

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 Hoshino Resorts REIT, Inc.
Abbreviation HRR
Securities code 3287(JPX)
Listing date 2013/07/12
Time elapsed 8.97 year
Closing months April / October
URL http://hoshinoresorts-reit.com/
Unitholders' capital 117,237Million JPY
Number of investment units authorized 244,355Unit
Investment amount per unit 479,782JPY
Rating JCR:A 
Type of assets under management Hotel REIT Hotel, Ryokans (Japanese-style Inns) and Ancillary Facilities
Management target regions
Hokkaido - Tohoku Regions:4.5%  Kanto Region:10.9% Hokuriku Region:8.2%  Chubu Region:21.5%  Kinki Region:19.3%  Chugoku - Shikoku Regions:15.2%  Kyushu - Okinawa Regions:20.5%
Number of investment properties 63
Number of tenants 84
Total leasable floor space 495,009.88㎡

Investment Index Information

NAV per Unit 538,301JPY
Unit Price / NAV per Unit 1.22
FFO per Unit 11,788JPY
Unit Price / FFO per Unit 55.65
NOI Yield 3.71%
Implied Cap Rate 2.73%
Market capitalization 160,297Million JPY
Acquisition book value 165,608Million JPY
Term-end book value 167,800Million JPY
Appraisal value 180,644Million JPY
Interest-bearing liabilities 68,482Million JPY
LTV 38.11%
EV / EBITDA 35.27
Average maturity of borrowings 3.3year
Ratio of long-term fixed interest rate
Average occupancy rate 100%
Average age of buildings 23.67year

Investment Management Policies

  • In terms of the management of assets under management, in order to offer high-quality and attractive investment products that meet the needs of unitholders, aims to secure stable profits from the assets under management and improve the value of assets, to conduct operations with high transparency as its basic policy.

Other Related Corporations

Asset Manager Hoshino Resort Asset Management Co., Ltd.
Update 2021/12/15 Capital 100Million JPY
Major Shareholders 100% Hoshino Resort Inc. Other Shareholders

Account Settlement InformationFY2021-10(Million JPY)

15th 16th 17th
(most recent)
18th forecast 19th forcast
Revised Date Revised Date
Operating revenue 6,021 4,591 4,840 5,341 5,521
Operating income 3,238 1,816 1,845 2,203 2,246
Ordinary income 2,854 1,422 1,412 1,755 1,850
Net income 2,853 1,466 1,410 1,754 1,849
Short-term borrowings 9,726 12,126 10,367
Long-term borrowings 56,623 53,974 55,316
Investment corporation bonds 1,500 1,500 2,800
Total assets 178,813 176,787 179,715
Net assets 105,591 102,204 106,157
Distribution per unit 12,860
JPY/per Unit
6,406
JPY/per Unit
6,344
JPY/per Unit
7,153
JPY/per Unit
7,542
JPY/per Unit

Other Affiliated Companies

Asset custodian Mitsubishi UFJ Trust and Banking Corporation Accounting auditor Grant Thornton Taiyo 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
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