銘柄情報

Sekisui House Reit, Inc.

Sekisui House Reit, Inc. has merged with Sekisui House Residential Investment Corporation on May 1, 2018. It aimes to secure stable profits in the medium to long term and achieve steady growth of its portfolios by promoting growth strategies through prioritized investment in high quality residential and commercial properties with the strategic locations that it defines as "Prime Properties" and through maximum use of Sekisui House, Ltd., the sponsor with an extensive track record in the development and operation of residential and commercial properties, and the Sekisui House Group's real estate development and management capabilities and the like, thereby striving to maximize unitholder value. (Excerpt from the website of Sekisui House Reit, Inc.)

  • Unit Price and Trading Volume 拡大

  • Unit Yield, Sector Average and Overall Average 拡大

2022/06/15Update

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 Sekisui House Reit, Inc.
Abbreviation SHR
Securities code 3309(JPX)
Listing date 2014/12/03
Time elapsed 7.99 year
Closing months April / October
URL http://www.sekisuihouse-reit.co.jp/
Unitholders' capital 161,283Million JPY
Number of investment units authorized 4,431,133Unit
Investment amount per unit 36,398JPY
Rating R&I:AA- / JCR:AA 
Type of assets under management Residential:45.7% Office:47.3% Hotels:7.0% Retail:0%
Management target regions
東京圏:66.3% 大阪圏:24.9% 名古屋圏:4.8% その他:4.1%
Number of investment properties 119
Number of tenants 17
Total leasable floor space 541,073.42㎡

Investment Index Information

NAV per Unit 87,815JPY
Unit Price / NAV per Unit 0.92
FFO per Unit 2,084JPY
Unit Price / FFO per Unit 38.58
NOI Yield 3.35%
Implied Cap Rate 2.76%
Market capitalization 356,263Million JPY
Acquisition book value 563,886Million JPY
Term-end book value 515,206Million JPY
Appraisal value 605,508Million JPY
Interest-bearing liabilities 263,642Million JPY
LTV 45.46%
EV / EBITDA 34.37
Average maturity of borrowings 3.5year
Ratio of long-term fixed interest rate
Average occupancy rate 97.0%
Average age of buildings 12.29year

Investment Management Policies

  • Based on the fundamental recognition that there is a growing need for real estate located at sites suited for "bases for sustainable living" for residents or sites suited for "sustainable bases of operation" of tenant companies and needs for real estate with high, basic functionality as residences, such as comfort and safety, and functionality desired by tenant companies, SHR designates high quality residential and commercial properties, etc. located at strategic locations "Prime Properties" and prioritize investments in Prime Properties.
    It positions and invests in residences, which form "the bases of living" for residents, and office buildings, which form "the basis of operation for businesses", as the core assets of portfolio, and engages in investment in hotels with growth prospects; by doing so SHR will aim to build a portfolio characterized by both high stability and high quality.
    (Excerpt from the website of Sekisui House Reit, Inc.)

Other Related Corporations

Asset Manager Sekisui House Investment Advisors, Ltd.
Update 2022/06/15 Capital 400Million JPY
Major Shareholders 100% Sekisui House, Ltd. Other Shareholders

Account Settlement InformationFY2022-4(Million JPY)

13th 14th 15th
(most recent)
16th forecast 17th forcast
Revised Date Revised Date
Operating revenue 15,055 17,291 14,756 15,610 15,188
Operating income 7,989 9,413 7,625 7,893 7,373
Ordinary income 7,103 8,520 6,746 6,996 6,456
Net income 7,103 8,520 6,745 6,995 6,456
Short-term borrowings 38,590 39,230 37,200
Long-term borrowings 181,852 176,212 191,942
Investment corporation bonds 32,500 34,500 34,500
Total assets 556,569 555,644 579,931
Net assets 286,220 287,642 298,782
Distribution per unit 1,675
JPY/per Unit
1,803
JPY/per Unit
1,698
JPY/per Unit
1,688
JPY/per Unit
1,666
JPY/per Unit

Other Affiliated Companies

Asset custodian Mitsubishi UFJ Trust and Banking Corporation Accounting auditor Ernst & Young ShinNihon LLC
Accounting services Mitsubishi UFJ Trust and Banking Corporation Unitholders registry administrator Mizuho Trust & Banking Co., Ltd.
Tax administration services Mitsubishi UFJ Trust and Banking Corporation Investment corporation bond administrator MUFG Bank, Ltd.
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