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NTT UD REIT Investment Corporation

8956.T

JPXReal EstateREIT - Diversified

Latest quote

¥131,300

+¥1,600 · +1.23%

Aug 24, 3:30 PM JST

8956.T company overview

Regular session · JST · Market data may be delayed.

Company profile

Company website

Premier Investment Corporation (PIC) operates as a Japanese Real Estate Investment Trust (J-REIT), managing a varied portfolio that includes both commercial office properties and residential buildings. Its investment activities are strategically concentrated within the vibrant Tokyo Economic Bloc. PIC made its debut on the Tokyo Stock Exchange in September 2002, becoming the sixth J-REIT to list (ticker: 8956). Since then, it has substantially grown its asset base, with its portfolio now valued at over 200 billion yen based on acquisition costs. The company employs a sophisticated hedging strategy to minimize risk, capitalizing on the complementary nature of office and residential assets to withstand economic cycles. This, combined with its primary focus on Tokyo and judicious management of its financial structure, has enabled PIC to consistently provide strong and stable dividends throughout previous fiscal periods. Premier REIT Advisors, Co., Ltd. (PRA) is responsible for the professional management of PIC's assets. Both entities are committed to ensuring enduring operational stability and continuously elevating the quality of their owned properties for the medium to long term.

Industry
REIT - Diversified
Sector
Real Estate
Headquarters
JP
CEO
Katsushi Hattori
Listed since
Sep 29, 2005

Market position

Day range

Current ¥131,300

52-week range

Current ¥131,300

Open
¥130,300
Previous close
¥129,700
Volume
2.54K
0.72× average
Average volume
3.55K
Average daily volume
Market cap
192.78B JPY
Beta
0.26
Market reference 1
50-day average
¥133,298
-1.50% below average
200-day average
¥138,225.5
-5.01% below average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
322.5B JPY
P/E (TTM)
21.42×
P/B (TTM)
1.31×
P/S (TTM)
5.41×
EV / EBITDA
24.44×
Earnings yield
4.21%
Free cash flow yield
9.64%
Dividend yield
4.78%

Profitability & efficiency

Gross margin
21.73%
Operating margin
28.98%
Net margin
25.28%
Return on equity
5.76%
Return on assets
2.74%
Return on invested capital
3.22%

Financial health

Debt / equity
Current ratio
0.94×

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends58%43%29%14%Gross margin, FY2021: 54.23%Gross margin, FY2022: 51.45%Gross margin, FY2023: 50.77%Gross margin, FY2024: 47.13%Gross margin, FY2025: 18.11%Operating margin, FY2021: 47.82%Operating margin, FY2022: 45.10%Operating margin, FY2023: 44.55%Operating margin, FY2024: 41.05%Operating margin, FY2025: 24.80%Net margin, FY2021: 44.00%Net margin, FY2022: 41.32%Net margin, FY2023: 40.96%Net margin, FY2024: 36.08%Net margin, FY2025: 21.45%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 54.23%. Gross margin FY2022 51.45%. Gross margin FY2023 50.77%. Gross margin FY2024 47.13%. Gross margin FY2025 18.11%. Operating margin FY2021 47.82%. Operating margin FY2022 45.10%. Operating margin FY2023 44.55%. Operating margin FY2024 41.05%. Operating margin FY2025 24.80%. Net margin FY2021 44.00%. Net margin FY2022 41.32%. Net margin FY2023 40.96%. Net margin FY2024 36.08%. Net margin FY2025 21.45%.

Income trends

Revenue

39.34B JPY+65.46%

Operating income

9.76B JPY-0.02%

Net income

8.44B JPY-1.61%
Income trends across reported periods42.43B JPY30.07B JPY17.71B JPY5.35B JPYRevenue, FY2021: 22.21B JPYRevenue, FY2022: 23.21B JPYRevenue, FY2023: 24.53B JPYRevenue, FY2024: 23.78B JPYRevenue, FY2025: 39.34B JPYOperating income, FY2021: 10.62B JPYOperating income, FY2022: 10.47B JPYOperating income, FY2023: 10.93B JPYOperating income, FY2024: 9.76B JPYOperating income, FY2025: 9.76B JPYNet income, FY2021: 9.77B JPYNet income, FY2022: 9.59B JPYNet income, FY2023: 10.05B JPYNet income, FY2024: 8.58B JPYNet income, FY2025: 8.44B JPYFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 22.21B JPY. Revenue FY2022 23.21B JPY. Revenue FY2023 24.53B JPY. Revenue FY2024 23.78B JPY. Revenue FY2025 39.34B JPY. Operating income FY2021 10.62B JPY. Operating income FY2022 10.47B JPY. Operating income FY2023 10.93B JPY. Operating income FY2024 9.76B JPY. Operating income FY2025 9.76B JPY. Net income FY2021 9.77B JPY. Net income FY2022 9.59B JPY. Net income FY2023 10.05B JPY. Net income FY2024 8.58B JPY. Net income FY2025 8.44B JPY.
Metric (JPY)FY2025FY2024FY2023FY2022FY2021
Revenue39.34B JPY23.78B JPY24.53B JPY23.21B JPY22.21B JPY
Cost of goods sold32.22B JPY12.57B JPY12.07B JPY11.27B JPY10.16B JPY
Gross profit7.12B JPY11.21B JPY12.45B JPY11.94B JPY12.04B JPY
Selling, general, and administrative1.18B JPY1.17B JPY1.2B JPY1.14B JPY1.08B JPY
Operating expenses−2.64B JPY1.45B JPY1.52B JPY1.47B JPY1.42B JPY
Interest income28.5M JPY1.97M JPY190K JPY223K JPY184K JPY
Interest expense1.34B JPY1.15B JPY865.83M JPY844.04M JPY837.54M JPY
Depreciation and amortization3.44B JPY3.41B JPY3.14B JPY3.18B JPY3.04B JPY
Operating income9.76B JPY9.76B JPY10.93B JPY10.47B JPY10.62B JPY
Net income8.44B JPY8.58B JPY10.05B JPY9.59B JPY9.77B JPY

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
73%
8 beats, 3 misses, 0 met estimates
Average EPS surprise
+0.69%
11 comparable reports
Latest EPS result
3,484
Estimate 3,515 · Miss by 0.88%

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates3,739.583,326.782,913.972,501.17Q2 '23BeatQ4 '23BeatQ2 '24BeatQ4 '24BeatQ2 '25BeatQ4 '25MissQ2 '26MissQ4 '26Estimate
Q2 2023, reported Jun 15, 2023: actual 3,572.44, estimate 3,520, surprise +1.49%, Beat. Q4 2023, reported Dec 15, 2023: actual 3,595.75, estimate 3,595, surprise +0.02%, Beat. Q2 2024, reported Jun 14, 2024: actual 2,849.61, estimate 2,744.5, surprise +3.83%, Beat. Q4 2024, reported Dec 16, 2024: actual 2,939.43, estimate 2,810, surprise +4.61%, Beat. Q2 2025, reported Jun 16, 2025: actual 3,090, estimate 3,070, surprise +0.65%, Beat. Q4 2025, reported Dec 17, 2025: actual 2,645, estimate 2,650, surprise -0.19%, Miss. Q2 2026, reported Jun 17, 2026: actual 3,484, estimate 3,515, surprise -0.88%, Miss. Q4 2026, reported Dec 10, 2026: actual —, estimate 3,089.67, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates16.77B14.78B12.8B10.81BQ2 '23BeatQ4 '23No estimateQ2 '24BeatQ4 '24BeatQ2 '25BeatQ4 '25BeatQ2 '26BeatQ4 '26Estimate
Q2 2023, reported Jun 15, 2023: actual 16.13B JPY, estimate 12.26B JPY, surprise +31.53%, Beat. Q4 2023, reported Dec 15, 2023: actual 15.96B JPY, estimate —, surprise —, Comparison unavailable. Q2 2024, reported Jun 14, 2024: actual 11.48B JPY, estimate 11.45B JPY, surprise +0.21%, Beat. Q4 2024, reported Dec 16, 2024: actual 12.3B JPY, estimate 12.13B JPY, surprise +1.40%, Beat. Q2 2025, reported Jun 16, 2025: actual 13.31B JPY, estimate 13.23B JPY, surprise +0.67%, Beat. Q4 2025, reported Dec 17, 2025: actual 13.22B JPY, estimate 13.14B JPY, surprise +0.59%, Beat. Q2 2026, reported Jun 17, 2026: actual 12.98B JPY, estimate 12.9B JPY, surprise +0.58%, Beat. Q4 2026, reported Dec 10, 2026: actual —, estimate 12.12B JPY, surprise —, Comparison unavailable.

Corporate actions

Annual dividends per share

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

¥6,244

2025 complete year-12.7% since 2021

2026 partial: ¥3,140

* Partial calendar year in the available dividend history.

Corporate action history

DividendUpcoming

Ex-dividend Oct 30, 2026

¥3,100

Semi-Annual

Record Oct 31, 2026 · Payment Oct 30, 2026

Dividend

Ex-dividend Apr 28, 2026

¥3,140

Semi-Annual

Record Apr 30, 2026 · Payment Jul 16, 2026

Dividend

Ex-dividend Oct 30, 2025

¥3,140

Semi-Annual

Record Oct 31, 2025 · Payment Jan 23, 2026

Dividend

Ex-dividend Apr 28, 2025

¥3,104

Semi-Annual

Record Apr 30, 2025 · Payment Jul 15, 2025

Dividend

Ex-dividend Oct 30, 2024

¥2,939

Semi-Annual

Record Oct 31, 2024 · Payment Jan 21, 2025

Dividend

Ex-dividend Apr 26, 2024

¥2,848

Semi-Annual

Record Apr 30, 2024 · Payment Jul 16, 2024

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