Daiwa House REIT Investment Corporation

TSE:8984 Stock Report

Market Cap: JP¥551.6b

Daiwa House REIT Investment Past Earnings Performance

Past criteria checks 4/6

Daiwa House REIT Investment has been growing earnings at an average annual rate of 3.8%, while the REITs industry saw earnings growing at 3.8% annually. Revenues have been growing at an average rate of 2.9% per year. Daiwa House REIT Investment's return on equity is 5.5%, and it has net margins of 45.5%.

Key information

3.82%

Earnings growth rate

8.37%

EPS growth rate

REITs Industry Growth5.90%
Revenue growth rate2.90%
Return on equity5.50%
Net Margin45.54%
Last Earnings Update28 Feb 2026

Recent past performance updates

Recent updates

Analysis Article Jun 16

Daiwa House REIT Investment (TSE:8984) Stock Looks Fairly Priced After Dividend Cut

Dividend cut puts Daiwa House REIT Investment stock back in focus Daiwa House REIT Investment (TSE:8984) recently announced a reduced semi-annual dividend of ¥2,483 per share, drawing fresh attention from income focused investors who track payout changes closely in Japan’s REIT market. See our latest analysis for Daiwa House REIT Investment. The dividend cut comes as Daiwa House REIT Investment’s share price has been under pressure, with a 90 day share price return that declined 9.95% and a...

Revenue & Expenses Breakdown

How Daiwa House REIT Investment makes and spends money. Based on latest reported earnings, on an LTM basis.


Earnings and Revenue History

TSE:8984 Revenue, expenses and earnings (JPY Millions)
DateRevenueEarningsG+A ExpensesR&D Expenses
28 Feb 2659,80527,2362170
30 Nov 2559,91927,7122120
31 Aug 2568,61630,0442780
31 May 2563,33825,7042460
28 Feb 2560,88023,2222090
30 Nov 2460,67321,8282070
31 Aug 2461,89620,4332430
31 May 2460,55521,0182220
29 Feb 2459,21421,6032010
30 Nov 2359,13721,9752010
31 Aug 2359,06122,3482000
31 May 2358,96022,2612020
28 Feb 2358,85922,1742030
30 Nov 2258,57822,4542050
31 Aug 2258,29722,7352070
31 May 2257,29423,0202080
28 Feb 2257,62723,3052430
30 Nov 2156,12523,0112270
31 Aug 2154,62322,7182100
31 May 2154,24821,8772090
28 Feb 2153,87421,0352080
30 Nov 2052,60020,0482070
31 Aug 2051,32619,0622070
31 May 2050,38118,6772050
29 Feb 2049,43518,2922040
30 Nov 1948,58618,0281990
31 Aug 1947,73717,7631950
31 May 1946,48117,0631910
28 Feb 1945,22516,3621870
30 Nov 1843,56915,6351820
31 Aug 1841,91214,9081780
31 May 1840,54615,0091740
28 Feb 1839,18015,1101690
30 Nov 1738,09613,7361660
31 Aug 1737,01112,3611630
31 May 1732,1179,9841710
28 Feb 1727,2227,6071780
30 Nov 1623,2886,9991730
31 Aug 1619,3536,3911670
31 May 1619,1866,3571520
29 Feb 1619,0186,3231370
30 Nov 1518,5346,2751340
31 Aug 1518,0506,2261320

Quality Earnings: 8984 has a large one-off gain of ¥6.6B impacting its last 12 months of financial results to 28th February, 2026.

Growing Profit Margin: 8984's current net profit margins (45.5%) are higher than last year (38.1%).


Free Cash Flow vs Earnings Analysis


Past Earnings Growth Analysis

Earnings Trend: 8984's earnings have grown by 3.8% per year over the past 5 years.

Accelerating Growth: 8984's earnings growth over the past year (17.3%) exceeds its 5-year average (3.8% per year).

Earnings vs Industry: 8984 earnings growth over the past year (17.3%) exceeded the REITs industry 1%.


Return on Equity

High ROE: 8984's Return on Equity (5.5%) is considered low.


Return on Assets


Return on Capital Employed


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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/07/13 17:30
End of Day Share Price 2026/07/13 00:00
Earnings2026/02/28
Annual Earnings2025/08/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Daiwa House REIT Investment Corporation is covered by 11 analysts. 3 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Junichi TazawaBarclays
Toshiyuki AnegawaBofA Global Research
null nullDaiwa Securities Co. Ltd.