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GLP J-REIT

3281.T

JPXReal EstateREIT - Industrial

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Latest quote

¥139,700

+¥900 · +0.65%

Aug 24, 3:30 PM JST

3281.T company overview

Regular session · JST · Market data may be delayed.

Company profile

Company website

GLP J-REIT operates as a real estate investment trust, specializing in advanced and highly functional logistics facilities. Founded by GLP Japan Advisors Inc. in accordance with Japan's Investment Trust Act, its units began trading on the Tokyo Stock Exchange's Real Estate Investment Trust Market (securities code: 3281) on December 21, 2012. With the GLP Group serving as its sponsor, the REIT capitalizes on the group's extensive experience and management capabilities to invest in high-quality logistics assets. Its primary goals are to secure stable income and foster consistent growth in its asset base over the medium to long term. Since commencing operations as a listed J-REIT in January 2013 with an initial portfolio of 30 properties valued at ¥208,731 million, GLP J-REIT has continuously expanded its holdings through strategic acquisitions. As of the close of the most recent fiscal period, its portfolio encompasses 78 properties, representing a total acquisition price of ¥644,878 million.

Industry
REIT - Industrial
Sector
Real Estate
Headquarters
JP
CEO
Yuma Kawatsuji
Listed since
Dec 21, 2012
Employees
44,000

Market position

Day range

Current ¥139,700

52-week range

Current ¥139,700

Open
¥139,100
Previous close
¥138,800
Volume
15.68K
1.02× average
Average volume
15.36K
Average daily volume
Market cap
670.24B JPY
Beta
0.4
Market reference 1
50-day average
¥139,518
+0.13% above average
200-day average
¥140,293.5
-0.42% below average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
1.01T JPY
EV / EBITDA
23.21×
Earnings yield
4.70%
Free cash flow yield
8.97%

Profitability & efficiency

Return on equity
6.88%
Return on assets
3.55%
Return on invested capital
3.89%

Financial health

Current ratio
1.19×

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends70%56%43%29%Gross margin, FY2020: 54.55%Gross margin, FY2021: 51.52%Gross margin, FY2022: 54.32%Gross margin, FY2023: 66.28%Gross margin, FY2025: 32.48%Operating margin, FY2020: 57.69%Operating margin, FY2021: 50.56%Operating margin, FY2022: 56.78%Operating margin, FY2023: 54.62%Operating margin, FY2025: 42.22%Net margin, FY2020: 51.14%Net margin, FY2021: 45.28%Net margin, FY2022: 51.87%Net margin, FY2023: 50.00%Net margin, FY2025: 38.49%FY2020FY2021FY2022FY2023FY2025
Gross margin FY2020 54.55%. Gross margin FY2021 51.52%. Gross margin FY2022 54.32%. Gross margin FY2023 66.28%. Gross margin FY2025 32.48%. Operating margin FY2020 57.69%. Operating margin FY2021 50.56%. Operating margin FY2022 56.78%. Operating margin FY2023 54.62%. Operating margin FY2025 42.22%. Net margin FY2020 51.14%. Net margin FY2021 45.28%. Net margin FY2022 51.87%. Net margin FY2023 50.00%. Net margin FY2025 38.49%.

Income trends

Revenue

80.83B JPY+48.80%

Operating income

34.13B JPY+15.03%

Net income

31.11B JPY+14.54%
Income trends across reported periods86.85B JPY62.76B JPY38.68B JPY14.59B JPYRevenue, FY2020: 40.3B JPYRevenue, FY2021: 50.08B JPYRevenue, FY2022: 48.15B JPYRevenue, FY2023: 54.32B JPYRevenue, FY2025: 80.83B JPYOperating income, FY2020: 23.25B JPYOperating income, FY2021: 25.32B JPYOperating income, FY2022: 27.34B JPYOperating income, FY2023: 29.67B JPYOperating income, FY2025: 34.13B JPYNet income, FY2020: 20.61B JPYNet income, FY2021: 22.68B JPYNet income, FY2022: 24.98B JPYNet income, FY2023: 27.16B JPYNet income, FY2025: 31.11B JPYFY2020FY2021FY2022FY2023FY2025
Revenue FY2020 40.3B JPY. Revenue FY2021 50.08B JPY. Revenue FY2022 48.15B JPY. Revenue FY2023 54.32B JPY. Revenue FY2025 80.83B JPY. Operating income FY2020 23.25B JPY. Operating income FY2021 25.32B JPY. Operating income FY2022 27.34B JPY. Operating income FY2023 29.67B JPY. Operating income FY2025 34.13B JPY. Net income FY2020 20.61B JPY. Net income FY2021 22.68B JPY. Net income FY2022 24.98B JPY. Net income FY2023 27.16B JPY. Net income FY2025 31.11B JPY.
Metric (JPY)FY2025FY2023FY2022FY2021FY2020
Revenue80.83B JPY54.32B JPY48.15B JPY50.08B JPY40.3B JPY
Cost of goods sold54.58B JPY18.32B JPY21.99B JPY24.28B JPY18.32B JPY
Gross profit26.25B JPY36B JPY26.16B JPY25.8B JPY21.98B JPY
Selling, general, and administrative6.86B JPY6.04B JPY102.16M JPY4.99B JPY87.56M JPY
Operating expenses−7.87B JPY6.33B JPY−1.18B JPY−478.48M JPY−1.27B JPY
Interest income78.9M JPY5.54M JPY—238K JPY—
Interest expense3.47B JPY1.99B JPY———
Depreciation and amortization8.74B JPY8.87B JPY8.64B JPY8.37B JPY7.78B JPY
Operating income34.13B JPY29.67B JPY27.34B JPY25.32B JPY23.25B JPY
Net income31.11B JPY27.16B JPY24.98B JPY22.68B JPY20.61B JPY

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
60%
6 beats, 4 misses, 0 met estimates
Average EPS surprise
+1.06%
10 comparable reports
Latest EPS result
3,104
Estimate 3,077 · Beat by 0.88%

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates3,480.883,033.832,586.792,139.74Q2 '23BeatQ4 '23BeatQ2 '24MissQ4 '24BeatQ4 '25BeatQ2 '26BeatQ4 '26EstimateQ2 '27Estimate
Q2 2023, reported Apr 14, 2023: actual 2,822.28, estimate 2,622.5, surprise +7.62%, Beat. Q4 2023, reported Oct 13, 2023: actual 2,907.3, estimate 2,661.95, surprise +9.22%, Beat. Q2 2024, reported Apr 15, 2024: actual 2,273.62, estimate 2,470.5, surprise -7.97%, Miss. Q4 2024, reported Oct 15, 2024: actual 2,859.09, estimate 2,831.32, surprise +0.98%, Beat. Q4 2025, reported Oct 14, 2025: actual 3,347, estimate 3,119.09, surprise +7.31%, Beat. Q2 2026, reported Apr 13, 2026: actual 3,104, estimate 3,077, surprise +0.88%, Beat. Q4 2026, reported Oct 14, 2026: actual —, estimate 3,077, surprise —, Comparison unavailable. Q2 2027, reported Apr 19, 2027: actual —, estimate 3,012.73, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates31.73B28.89B26.05B23.21BQ2 '23MissQ4 '23MissQ2 '24MissQ4 '24MissQ4 '25BeatQ2 '26MissQ4 '26EstimateQ2 '27Estimate
Q2 2023, reported Apr 14, 2023: actual 24.43B JPY, estimate 25.65B JPY, surprise -4.75%, Miss. Q4 2023, reported Oct 13, 2023: actual 25.77B JPY, estimate 26.92B JPY, surprise -4.28%, Miss. Q2 2024, reported Apr 15, 2024: actual 25.88B JPY, estimate 26.61B JPY, surprise -2.75%, Miss. Q4 2024, reported Oct 15, 2024: actual 26.34B JPY, estimate 27.42B JPY, surprise -3.97%, Miss. Q4 2025, reported Oct 14, 2025: actual 30.51B JPY, estimate 29.97B JPY, surprise +1.78%, Beat. Q2 2026, reported Apr 13, 2026: actual 28.82B JPY, estimate 29.06B JPY, surprise -0.81%, Miss. Q4 2026, reported Oct 14, 2026: actual —, estimate 29.06B JPY, surprise —, Comparison unavailable. Q2 2027, reported Apr 19, 2027: actual —, estimate 28.9B JPY, surprise —, Comparison unavailable.

Corporate actions

Annual dividends per share

Cash distributions grouped by calendar year; partial years are marked.

¥7,077

2025 complete year+17.2% since 2021

2026 partial: ¥3,399

* Partial calendar year in the available dividend history.

Corporate action history

DividendUpcoming

Ex-dividend Aug 28, 2026

¥3,315

Semi-Annual

Record Aug 31, 2026 · Payment Aug 28, 2026

Dividend

Ex-dividend Feb 26, 2026

¥3,399

Semi-Annual

Record Feb 28, 2026 · Payment May 21, 2026

Dividend

Ex-dividend Aug 28, 2025

¥3,643

Semi-Annual

Record Aug 31, 2025 · Payment Nov 17, 2025

Dividend

Ex-dividend Feb 27, 2025

¥3,434

Semi-Annual

Record Feb 28, 2025 · Payment May 21, 2025

Dividend

Ex-dividend Aug 29, 2024

¥3,158

Semi-Annual

Record Aug 31, 2024 · Payment Nov 18, 2024

Dividend

Ex-dividend Feb 28, 2024

¥2,760

Semi-Annual

Record Aug 31, 2024

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ETFs holding 3281.T

Funds reporting this stock among their holdings, ordered by reported position size.

Vanguard Total International Stock ETF logoVanguard Total International Stock ETFVXUS
Market value
61.89M
Weight
0.01%
AUM
646.2B USD
Expense ratio
0.05%
Price / 1D
$87.20-0.58%
Vanguard FTSE Developed Markets ETF logoVanguard FTSE Developed Markets ETFVEA
Market value
42.22M
Weight
0.01%
AUM
315B USD
Expense ratio
0.03%
Price / 1D
$73.06-0.49%
iShares Core MSCI EAFE ETF logoiShares Core MSCI EAFE ETFIEFA
Market value
30.39M
Weight
0.02%
AUM
195.14B USD
Expense ratio
0.07%
Price / 1D
$100.67-0.18%
Vanguard Global ex-U.S. Real Estate ETF logoVanguard Global ex-U.S. Real Estate ETFVNQI
Market value
15.93M
Weight
0.40%
AUM
3.9B USD
Expense ratio
0.12%
Price / 1D
$45.80+0.20%
iShares MSCI EAFE Small-Cap ETF logoiShares MSCI EAFE Small-Cap ETFSCZ
Market value
13.72M
Weight
0.10%
AUM
13.28B USD
Expense ratio
0.40%
Price / 1D
$86.50-0.12%
iShares Global REIT ETF logoiShares Global REIT ETFREET
Market value
11.33M
Weight
0.22%
AUM
5.06B USD
Expense ratio
0.14%
Price / 1D
$28.18+0.57%
Vanguard FTSE All-World ex-US ETF logoVanguard FTSE All-World ex-US ETFVEU
Market value
10M
Weight
0.01%
AUM
95.9B USD
Expense ratio
0.04%
Price / 1D
$85.21-0.56%
Schwab International Equity ETF logoSchwab International Equity ETFSCHF
Market value
8.47M
Weight
0.01%
AUM
69.7B USD
Expense ratio
0.03%
Price / 1D
$28.32-0.47%

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