Upcoming Dividend • Apr 21
Upcoming dividend of JP¥3,384 per share Eligible shareholders must have bought the stock before 28 April 2026. Payment date: 21 July 2026. Trailing yield: 5.8%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (4.9%). Announcement • Apr 09
Sekisui House Reit, Inc. to Report First Half, 2026 Results on Jun 15, 2026 Sekisui House Reit, Inc. announced that they will report first half, 2026 results on Jun 15, 2026 Declared Dividend • Feb 28
First half dividend of JP¥3,384 announced Shareholders will receive a dividend of JP¥3,384. Ex-date: 28th April 2026 Payment date: 21st July 2026 Dividend yield will be 6.1%, which is higher than the industry average of 4.5%. Announcement • Feb 27
Sekisui House Reit, Inc. announces Semi-Annual dividend, payable on July 21, 2026 Sekisui House Reit, Inc. announced Semi-Annual dividend of JPY 2776.0000 per share payable on July 21, 2026, ex-date on April 28, 2026 and record date on April 30, 2026. Price Target Changed • Jan 16
Price target increased by 8.6% to JP¥92,400 Up from JP¥85,100, the current price target is an average from 5 analysts. New target price is approximately in line with last closing price of JP¥92,300. Stock is up 20% over the past year. The company posted earnings per share of JP¥5,020 last year. New Risk • Dec 17
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 8.4% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 8.4% per year for the foreseeable future. Minor Risk High level of debt (88% net debt to equity). Reported Earnings • Dec 16
First half 2026 earnings released: EPS: JP¥2,199 (vs JP¥2,699 in 1H 2025) First half 2026 results: EPS: JP¥2,199 (down from JP¥2,699 in 1H 2025). Revenue: JP¥19.4b (down 10% from 1H 2025). Net income: JP¥9.52b (down 20% from 1H 2025). Profit margin: 49% (down from 55% in 1H 2025). Revenue is expected to fall by 7.2% p.a. on average during the next 2 years compared to a 1.0% decline forecast for the REITs industry in Japan. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Oct 23
Upcoming dividend of JP¥2,216 per share Eligible shareholders must have bought the stock before 30 October 2025. Payment date: 23 January 2026. Trailing yield: 4.8%. Within top quartile of Japanese dividend payers (3.7%). In line with average of industry peers (4.7%). Announcement • Oct 06
Sekisui House Reit, Inc. to Report Fiscal Year 2025 Results on Dec 15, 2025 Sekisui House Reit, Inc. announced that they will report fiscal year 2025 results on Dec 15, 2025 Reported Earnings • Aug 05
Full year 2025 earnings released: EPS: JP¥5,020 (vs JP¥2,822 in FY 2024) Full year 2025 results: EPS: JP¥5,020 (up from JP¥2,822 in FY 2024). Revenue: JP¥41.2b (up 6.8% from FY 2024). Net income: JP¥22.0b (up 78% from FY 2024). Profit margin: 53% (up from 32% in FY 2024). The increase in margin was primarily driven by lower expenses. Revenue is expected to fall by 8.5% p.a. on average during the next 3 years compared to a 2.0% decline forecast for the REITs industry in Japan. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Declared Dividend • Jul 19
Final dividend of JP¥2,216 announced Shareholders will receive a dividend of JP¥2,216. Ex-date: 30th October 2025 Payment date: 23rd January 2026 Dividend yield will be 6.0%, which is higher than the industry average of 4.5%. New Risk • Jun 18
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 14% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 14% per year for the foreseeable future. Minor Risk High level of debt (89% net debt to equity). Reported Earnings • Jun 15
Full year 2025 earnings released: EPS: JP¥5,029 (vs JP¥2,822 in FY 2024) Full year 2025 results: EPS: JP¥5,029 (up from JP¥2,822 in FY 2024). Revenue: JP¥41.4b (up 7.2% from FY 2024). Net income: JP¥22.0b (up 78% from FY 2024). Profit margin: 53% (up from 32% in FY 2024). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Announcement • Jun 14
Sekisui House Reit, Inc. announces Semi-Annual dividend, payable on January 23, 2026 Sekisui House Reit, Inc. announced Semi-Annual dividend of JPY 2177.0000 per share payable on January 23, 2026, ex-date on October 30, 2025 and record date on October 31, 2025. Announcement • Apr 29
Sekisui House Reit, Inc. (TSE:3309) agreed to acquire ISM Otsuka for ¥1.2 billion. Sekisui House Reit, Inc. (TSE:3309) agreed to acquire ISM Otsuka for ¥1.2 billion on April 28, 2025. A cash consideration of ¥1.16 billion will be paid by Sekisui House Reit, Inc. The transaction will be financed by own funds of Sekisui House Reit.
The expected completion of the transaction is May 16, 2025. Upcoming Dividend • Apr 21
Upcoming dividend of JP¥2,320 per share Eligible shareholders must have bought the stock before 28 April 2025. Payment date: 22 July 2025. Trailing yield: 5.2%. Within top quartile of Japanese dividend payers (4.0%). In line with average of industry peers (5.2%). Announcement • Apr 09
Sekisui House Reit, Inc. to Report Q2, 2025 Results on Jun 13, 2025 Sekisui House Reit, Inc. announced that they will report Q2, 2025 results on Jun 13, 2025 Declared Dividend • Apr 02
Final dividend of JP¥2,320 announced Shareholders will receive a dividend of JP¥2,320. Ex-date: 28th April 2025 Payment date: 22nd July 2025 Dividend yield will be 5.3%, which is higher than the industry average of 4.5%. Announcement • Apr 01
Sekisui House Reit, Inc. announces Semi-Annual dividend, payable on July 22, 2025 Sekisui House Reit, Inc. announced Semi-Annual dividend of JPY 2281.0000 per share payable on July 22, 2025, ex-date on April 28, 2025 and record date on April 30, 2025. Announcement • Mar 17
Sekisui House Reit, Inc. Announces Cancellation of Appointment of Toru Abe as Substitute Executive Director Sekisui House Reit, Inc. (SHR) announced that Sekisui House Asset Management Ltd. (SHA), to which SHR entrusts management of its assets, is planning on changing its directors. In addition, SHR announces that at its Board of Directors meeting held on March 17, 2025, it resolved to cancel the appointment of Toru Abe as substitute executive director effective as of March 17, 2025. Toru Abe was appointed as a Substitute Executive Director at the 6th General Meeting of Unitholders held on January 24, 2024. Reported Earnings • Feb 05
First half 2025 earnings released: EPS: JP¥2,699 (vs JP¥1,691 in 1H 2024) First half 2025 results: EPS: JP¥2,699 (up from JP¥1,691 in 1H 2024). Revenue: JP¥21.6b (up 31% from 1H 2024). Net income: JP¥11.8b (up 60% from 1H 2024). Profit margin: 55% (up from 45% in 1H 2024). Revenue is expected to fall by 14% p.a. on average during the next 2 years compared to a 2.8% decline forecast for the REITs industry in Japan. Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has increased by 1% per year. Reported Earnings • Dec 19
First half 2025 earnings released: EPS: JP¥2,699 (vs JP¥1,691 in 1H 2024) First half 2025 results: EPS: JP¥2,699 (up from JP¥1,691 in 1H 2024). Revenue: JP¥21.8b (up 32% from 1H 2024). Net income: JP¥11.8b (up 60% from 1H 2024). Profit margin: 54% (up from 45% in 1H 2024). Revenue is expected to fall by 14% p.a. on average during the next 2 years compared to a 2.5% decline forecast for the REITs industry in Japan. Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has fallen by 4% per year. New Risk • Dec 19
New major risk - Revenue and earnings growth Earnings have declined by 0.9% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 0.9% per year over the past 5 years. Minor Risks High level of debt (77% net debt to equity). Large one-off items impacting financial results. Announcement • Dec 17
Sekisui House Reit, Inc. (TSE:3309) announces an Equity Buyback for 350,000 shares, representing 0.8% for ¥2,000 million. Sekisui House Reit, Inc. (TSE:3309) announces a share repurchase program. Under the program, the company will repurchase up to 35,000 units, representing 0.8% of its issued share capital (excluding treasury stock) for ¥2,000 million. The purpose of the program is to improve unitholder value by increasing the NAV per unit and distribution per unit. All acquired investment units will be cancelled. The plan will be valid till March 31, 2025. As of December 16, 2024, the company had 4,381,482 units issued shares (excluding treasury stock) and 0 treasury shares. Announcement • Oct 31
Sekisui House Reit, Inc. to Report Fiscal Year 2024 Results on Dec 16, 2024 Sekisui House Reit, Inc. announced that they will report fiscal year 2024 results on Dec 16, 2024 Upcoming Dividend • Oct 23
Upcoming dividend of JP¥1,772 per share Eligible shareholders must have bought the stock before 30 October 2024. Payment date: 23 January 2025. Trailing yield: 5.4%. Within top quartile of Japanese dividend payers (3.8%). In line with average of industry peers (5.3%). Announcement • Aug 22
Sekisui House Reit, Inc. Revises Earnings Forecast for the Fiscal Period Ending October 31, 2024 and for the Fiscal Period Ending April 30, 2025 Sekisui House Reit, Inc. revised earnings forecast for the fiscal period ending October 31, 2024 and the fiscal period ending April 30, 2025. For the fiscal period ending October 31, 2024, the company expects Operating Revenue to be JPY 21,610 million against previous forecast of JPY 21,444 million, Operating Income to be JPY 12,666 million against previous forecast of JPY 12,582 million, Net Income to be JPY 11,626 million against previous forecast of JPY 11,527 million.
For the fiscal period ending April 30, 2025, the company expected Operating Revenue to be JPY 19,368 million against previous forecast of JPY 18,931 million, Operating Income to be JPY 11,088 million against previous forecast of JPY 10,852 million, Net Income to be JPY 9,891 million against previous forecast of JPY 9,693 million. Reasons for Revisions of Forecasts of Operating Results and Distributions: As stated in the Notice Concerning Investment in an Overseas Real Estate Holding Corporation (City Ridge) separately announced by SHR on August 22, 2024, it will invest in two LLCs located in the U.S., which are expected to acquire overseas real estate. As a result, SHR has revised its forecasts of operating results and distributions announced in the Financial Report for the Fiscal Period Ended April 30, 2024, which was announced on June 14, 2024, due to changes in the assumptions used in the calculation. Buy Or Sell Opportunity • Aug 20
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 2.6% to JP¥83,000. The fair value is estimated to be JP¥68,551, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 4.9% over the last 3 years. Earnings per share has declined by 5.5%. Revenue is forecast to decline by 11% in 2 years. Earnings are forecast to grow by 32% in the next 2 years. Reported Earnings • Jul 30
Full year 2024 earnings released: EPS: JP¥2,822 (vs JP¥3,159 in FY 2023) Full year 2024 results: EPS: JP¥2,822 (down from JP¥3,159 in FY 2023). Revenue: JP¥38.6b (up 24% from FY 2023). Net income: JP¥12.4b (down 11% from FY 2023). Profit margin: 32% (down from 44% in FY 2023). Revenue is expected to fall by 8.6% p.a. on average during the next 3 years compared to a 3.9% decline forecast for the REITs industry in Japan. Over the last 3 years on average, earnings per share has fallen by 6% per year whereas the company’s share price has fallen by 7% per year. Declared Dividend • Jun 17
Final dividend of JP¥1,749 announced Shareholders will receive a dividend of JP¥1,749. Ex-date: 30th October 2024 Payment date: 23rd January 2025 Dividend yield will be 5.0%, which is higher than the industry average of 4.5%. Reported Earnings • Jun 16
Full year 2024 earnings released: EPS: JP¥2,822 (vs JP¥3,159 in FY 2023) Full year 2024 results: EPS: JP¥2,822 (down from JP¥3,159 in FY 2023). Revenue: JP¥38.6b (up 24% from FY 2023). Net income: JP¥12.4b (down 11% from FY 2023). Profit margin: 32% (down from 44% in FY 2023). Over the last 3 years on average, earnings per share has fallen by 6% per year whereas the company’s share price has fallen by 5% per year. Buy Or Sell Opportunity • Jun 07
Now 21% undervalued Over the last 90 days, the stock has risen 7.7% to JP¥78,800. The fair value is estimated to be JP¥99,914, however this is not to be taken as a buy recommendation but rather should be used as a guide only. For the next 3 years, revenue is forecast to grow by 0.6% per annum. Earnings are also forecast to grow by 1.7% per annum over the same time period. Announcement • Jun 06
An undisclosed buyer acquired Hommachi Garden City from Sekisui House Reit, Inc. (TSE:3309) for ¥21.4 billion. An undisclosed buyer agreed to acquire Hommachi Garden City from Sekisui House Reit, Inc. (TSE:3309) for ¥21.4 billion on March 19, 2024. The consideration consists of ¥21.4 billion in cash. As part of the consideration, ¥21.4 billion was paid towards common equity. The transaction is expected to complete on April 30, 2024.
An undisclosed buyer completed the acquisition of Hommachi Garden City from Sekisui House Reit, Inc. (TSE:3309) on June 4, 2024. Announcement • May 10
Sekisui House Reit, Inc. to Report First Half, 2024 Results on Jun 14, 2024 Sekisui House Reit, Inc. announced that they will report first half, 2024 results on Jun 14, 2024 Buy Or Sell Opportunity • May 08
Now 21% undervalued Over the last 90 days, the stock has risen 4.6% to JP¥81,600. The fair value is estimated to be JP¥102,905, however this is not to be taken as a buy recommendation but rather should be used as a guide only. For the next 3 years, revenue is forecast to grow by 0.4% per annum. Earnings are also forecast to grow by 1.9% per annum over the same time period. Upcoming Dividend • Apr 19
Upcoming dividend of JP¥2,038 per share Eligible shareholders must have bought the stock before 26 April 2024. Payment date: 22 July 2024. Trailing yield: 4.4%. Within top quartile of Japanese dividend payers (3.3%). In line with average of industry peers (4.6%). Buy Or Sell Opportunity • Apr 10
Now 20% undervalued Over the last 90 days, the stock has risen 5.4% to JP¥82,000. The fair value is estimated to be JP¥102,676, however this is not to be taken as a buy recommendation but rather should be used as a guide only. For the next 3 years, revenue is forecast to grow by 0.4% per annum. Earnings are also forecast to grow by 1.9% per annum over the same time period. Announcement • Feb 28
Sekisui House Reit, Inc., Annual General Meeting, Mar 28, 2024 Sekisui House Reit, Inc., Annual General Meeting, Mar 28, 2024. Declared Dividend • Feb 18
First half dividend of JP¥1,835 announced Shareholders will receive a dividend of JP¥1,835. Ex-date: 26th April 2024 Payment date: 22nd July 2024 Dividend yield will be 5.1%, which is higher than the industry average of 4.5%. Reported Earnings • Dec 22
First half 2024 earnings released: EPS: JP¥1,691 (vs JP¥1,637 in 1H 2023) First half 2024 results: EPS: JP¥1,691 (up from JP¥1,637 in 1H 2023). Revenue: JP¥16.5b (up 4.4% from 1H 2023). Net income: JP¥7.41b (up 2.8% from 1H 2023). Profit margin: 45% (in line with 1H 2023). Revenue is forecast to grow 4.6% p.a. on average during the next 2 years, compared to a 2.2% decline forecast for the REITs industry in Japan. Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has increased by 1% per year. Upcoming Dividend • Oct 23
Upcoming dividend of JP¥1,895 per share at 4.2% yield Eligible shareholders must have bought the stock before 30 October 2023. Payment date: 22 January 2024. Trailing yield: 4.2%. Within top quartile of Japanese dividend payers (3.4%). In line with average of industry peers (4.5%). Announcement • Sep 28
Sekisui House Reit, Inc. (TSE:3309) agreed to acquire Esty Maison Noborito for ¥490 million. Sekisui House Reit, Inc. (TSE:3309) agreed to acquire Esty Maison Noborito for ¥490 million on September 27, 2023. The acquisition will be funded by own funds of Sekisui House Reit, Inc. As a part of the acquisition, the name of the property is scheduled to be changed to "Esty Maison". The deal is expected to be completed on October 3, 2023. Reported Earnings • Jul 30
Full year 2023 earnings released: EPS: JP¥3,159 (vs JP¥3,502 in FY 2022) Full year 2023 results: EPS: JP¥3,159 (down from JP¥3,502 in FY 2022). Revenue: JP¥31.2b (down 2.8% from FY 2022). Net income: JP¥13.8b (down 9.3% from FY 2022). Profit margin: 44% (down from 48% in FY 2022). The decrease in margin was primarily driven by higher expenses. Revenue is forecast to grow 5.1% p.a. on average during the next 3 years, while revenues in the REITs industry in Japan are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. New Risk • Jun 17
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 16% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (16% operating cash flow to total debt). Minor Risk Dividend is not well covered by earnings (354% payout ratio). Reported Earnings • Jun 16
Full year 2023 earnings released Full year 2023 results: Revenue: JP¥31.2b (down 2.8% from FY 2022). Net income: JP¥13.8b (down 9.3% from FY 2022). Profit margin: 44% (down from 48% in FY 2022). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has increased by 3% per year. Announcement • Jun 15
Sekisui House Reit, Inc. to Report Q2, 2023 Results on Jun 15, 2023 Sekisui House Reit, Inc. announced that they will report Q2, 2023 results on Jun 15, 2023 Upcoming Dividend • Apr 20
Upcoming dividend of JP¥1,714 per share at 4.1% yield Eligible shareholders must have bought the stock before 27 April 2023. Payment date: 20 July 2023. Trailing yield: 4.1%. Within top quartile of Japanese dividend payers (3.5%). In line with average of industry peers (4.3%). Reported Earnings • Feb 03
Full year 2022 earnings released: EPS: JP¥3,273 (vs JP¥3,643 in FY 2021) Full year 2022 results: EPS: JP¥3,273 (down from JP¥3,643 in FY 2021). Revenue: JP¥31.6b (down 2.3% from FY 2021). Net income: JP¥14.4b (down 7.8% from FY 2021). Profit margin: 46% (down from 48% in FY 2021). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Reported Earnings • Dec 16
First half 2023 earnings released: EPS: JP¥1,636 (vs JP¥1,987 in 1H 2022) First half 2023 results: EPS: JP¥1,636 (down from JP¥1,987 in 1H 2022). Revenue: JP¥15.8b (down 8.6% from 1H 2022). Net income: JP¥7.20b (down 15% from 1H 2022). Profit margin: 46% (down from 49% in 1H 2022). The decrease in margin was driven by lower revenue. Board Change • Nov 16
No independent directors There are 4 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 4 new directors. No experienced directors. No highly experienced directors. No independent directors (3 non-independent directors). Executive Director Atsuhiro Kida is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of experienced directors. Upcoming Dividend • Oct 21
Upcoming dividend of JP¥1,688 per share Eligible shareholders must have bought the stock before 28 October 2022. Payment date: 20 January 2023. Trailing yield: 4.5%. Within top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (3.8%). Announcement • Jul 29
Sekisui House Reit, Inc. (TSE:3309) agreed to acquire 12.4% Trust Beneficiary Rights of Akasaka Garden City for ¥480 million. Sekisui House Reit, Inc. (TSE:3309) agreed to acquire 12.4% Trust Beneficiary Rights of Akasaka Garden City for ¥480 million on July 28, 2022. The deal will be financed from Sekisui own funds. The acquisition is expected to be closed on august 1, 2022. Announcement • Jun 16
Sekisui House Reit, Inc. (TSE:3309) announces an Equity Buyback for 70,000 shares, representing 1.58% for ¥4,000 million. Sekisui House Reit, Inc. (TSE:3309) announces a share repurchase program. Under the program, the company will repurchase up to ¥4,000 million worth of its investment units, representing 1.6% of its issued investment units (excluding investment units held by the Investment Corporation). The program will expire on September 30, 2022. As of June 15, 2022, the company has 4,431,133 issued investment units (excluding investment units held by the Investment Corporation) and 0 investment units in treasury. Board Change • Apr 27
No independent directors There are 4 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 4 new directors. No experienced directors. No highly experienced directors. No independent directors (3 non-independent directors). Executive Director Atsuhiro Kida is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of experienced directors. Upcoming Dividend • Apr 20
Upcoming dividend of JP¥1,698 per share Eligible shareholders must have bought the stock before 27 April 2022. Payment date: 20 July 2022. Trailing yield: 4.4%. Within top quartile of Japanese dividend payers (3.5%). Higher than average of industry peers (3.7%). Reported Earnings • Dec 16
First half 2022 earnings: EPS and revenues miss analyst expectations First half 2022 results: EPS: JP¥1,987 (up from JP¥1,631 in 1H 2021). Revenue: JP¥17.3b (up 17% from 1H 2021). Net income: JP¥8.52b (up 22% from 1H 2021). Profit margin: 49% (up from 47% in 1H 2021). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 100%. Earnings per share (EPS) also missed analyst estimates by 100%. Earnings per share (EPS) missed analyst estimates by 100%. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Upcoming Dividend • Oct 21
Upcoming dividend of JP¥1,780 per share Eligible shareholders must have bought the stock before 28 October 2021. Payment date: 20 January 2022. Trailing yield: 3.7%. Within top quartile of Japanese dividend payers (3.0%). In line with average of industry peers (3.4%). Reported Earnings • Jul 28
Full year 2021 earnings released: EPS JP¥3,287 (vs JP¥3,404 in FY 2020) The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2021 results: Revenue: JP¥29.9b (up 2.1% from FY 2020). Net income: JP¥14.1b (down 2.1% from FY 2020). Profit margin: 47% (down from 49% in FY 2020). The decrease in margin was driven by higher expenses. Net asset value (NAV) per share: JP¥66,738 (flat on FY 2020). The current share price is 47% higher than NAV per share. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 11% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jun 16
Sekisui House Reit, Inc. Provides Earnings Guidance for the Fiscal Six Months Ending October 31, 2021 and Full Year Ending April 30, 2022 Sekisui House Reit, Inc. provided earnings guidance for the fiscal six months ending October 31, 2021 and full year ending April 30, 2022. For the six months, the company expects operating revenue of JPY 14,578 million, Operating Income of JPY 7,452 million, Net income of JPY 6,540 million or JPY 1,649 per unit (excluding Distributions in Excess of Earnings).
For the year, the company expects operating revenue of JPY 14,521 million, Operating Income of JPY 7,392 million, Net income of JPY 6,481 million or JPY 1,625 per unit (excluding Distributions in Excess of Earnings). Upcoming Dividend • Apr 21
Upcoming dividend of JP¥1,641 per share Eligible shareholders must have bought the stock before 28 April 2021. Payment date: 20 July 2021. Trailing yield: 3.5%. Within top quartile of Japanese dividend payers (2.8%). In line with average of industry peers (3.5%). Is New 90 Day High Low • Feb 25
New 90-day high: JP¥86,800 The company is up 16% from its price of JP¥74,600 on 27 November 2020. The Japanese market is up 7.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the REITs industry, which is up 17% over the same period. Announcement • Feb 10
An unknown buyer entered into Sale and purchase contract to acquire Esty Maison Sangenjaya from Sekisui House Reit, Inc. (TSE:3309) for approximately ¥970 million. An unknown buyer entered into Sale and purchase contract to acquire Esty Maison Sangenjaya from Sekisui House Reit, Inc. (TSE:3309) for approximately ¥970 million on February 9, 2021. Esty Maison Sangenjaya generates monthly rent of ¥3.7 million. The transaction is expected to complete on February 26, 2021. Is New 90 Day High Low • Feb 08
New 90-day high: JP¥80,000 The company is up 7.0% from its price of JP¥75,100 on 10 November 2020. The Japanese market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the REITs industry, which is up 8.0% over the same period. Reported Earnings • Jan 30
First half 2021 earnings released: EPS JP¥1,631 (vs JP¥1,776 in 1H 2020) The company reported a soft first half result with weaker earnings and profit margins, although revenues improved. First half 2021 results: Revenue: JP¥14.8b (up 1.0% from 1H 2020). Net income: JP¥6.99b (down 5.6% from 1H 2020). Profit margin: 47% (down from 50% in 1H 2020). Over the last 3 years on average, earnings per share has increased by 6% per year whereas the company’s share price has increased by 1% per year. Announcement • Jan 29
Sekisui House Reit, Inc. (TSE:3309) canceled the acquisition of Marymount Place Shizuoka Takajo from Sekiwa Real Estate Chubu, Ltd. Sekisui House Reit, Inc. (TSE:3309) signed a sale and purchase contract to acquire Marymount Place Shizuoka Takajo from Sekiwa Real Estate Chubu, Ltd. for ¥660 million on January 28, 2020. The transaction would be financed by loan and cash on hand. Sekisui House Reit borrowed loan of ¥600 million from MUFG Bank, Ltd., Mizuho Bank, Ltd. and Sumitomo Mitsui Banking Corporation. Sekisui House Reit will change the name of Marymount Place Shizuoka Takajo to Esty Maison Shizuoka Takajo after completion of the transaction. The Board of Sekisui House Reit approved the transaction. The transaction is expected to close on January 31, 2020. The transaction is have small impact on the operating result of Sekisui House Reit. Daiwa Real Estate Appraisal Co., Ltd. acted as appraiser in the transaction.
Sekisui House Reit, Inc. (TSE:3309) canceled the acquisition of Marymount Place Shizuoka Takajo from Sekiwa Real Estate Chubu, Ltd. on January 28, 2021. Is New 90 Day High Low • Jan 13
New 90-day low: JP¥72,700 The company is down 4.0% from its price of JP¥76,100 on 15 October 2020. The Japanese market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the REITs industry, which is up 4.0% over the same period. Reported Earnings • Dec 16
First half 2021 earnings released: EPS JP¥1,630 The company reported a soft first half result with weaker earnings and profit margins, although revenues were improved. First half 2021 results: Revenue: JP¥14.8b (up 1.0% from 1H 2020). Net income: JP¥6.99b (down 5.6% from 1H 2020). Profit margin: 47% (down from 50% in 1H 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 6% per year whereas the company’s share price has increased by 5% per year. Announcement • Oct 29
Sekisui House Reit, Inc. Announces Changes to Its Key Employees, Effective November 1, 2020 Sekisui House Reit, Inc. to which Sekisui House Asset Management Ltd. announced change to its key employees. Nobuyoshi Sato replaced Yoshiya Sasaki as Chief Manager, Investor Relations Department. Nobuyoshi Sato, SHAM's director, will continue to be engaged in his duties as a director of SHAM, concurrently serving as chief manager of the Investor Relations Department after November 1, 2020. Yoshiya Sasaki replaced Yoshihiro Tsunomori as Chief Manager, Internal Control Promotion Department. Yoshihiro Tsunomori, SHAM's director and compliance officer and chief manager of the Internal Control Promotion Department, will continue to be engaged in his duties as SHAM's director and compliance officer after November 1, 2020. 
