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Diversified J-REIT spanning office, retail, hotel and residential, sponsored by financial group ORIX.
Diversified J-REIT spanning office, retail, hotel and residential, sponsored by financial group ORIX.
Collects rent from its tenants and pays out nearly all profit to unitholders, as Japanese REIT tax rules reward doing so. It has no staff of its own: a management company affiliated with ORIX picks and runs the properties for fees. Leases to hotels, shops and offices differ in length, which spreads when rents can rise.
In one line: A diversified REIT combining office, mall, hotel and apartment exposure.
Moat: narrow (regulatory licence, scale). ORIX group's broad real estate network sources acquisitions across multiple property types.
Headquarters: Tokyo, Japan · Founded: 2000
Size ORIX JREIT (8954.T) is a Japan Real Estate company (Real Estate Investment Trusts) with a market value of $3.06B, the 362nd largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥87,500 on 6 Nov 2026.
Performance Over six months the shares fell 11.8%, against -4.7% for the median peer and +1.8% for the Japan market (cap-weighted) — 7th lowest of 21 in its peer set.
Growth Revenue grew 35.4% over the last twelve months (peer median +4.1%); the operating margin is 51.0% (peer median 50.7%).
Valuation It trades at 18.1× forward earnings against a peer median of 18.1× (10th cheapest of 20).
Next results Next results expected around 21 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|---|
| Revenue | ¥77.2B | ¥77.2B | ¥57.0B | ¥83.7B | ¥58.3B |
| Revenue growth | — | +35% | -32% | +43% | — |
| Gross profit | ¥39.5B | ¥39.5B | ¥26.4B | ¥26.7B | ¥21.8B |
| EBITDA | ¥48.4B | ¥48.4B | ¥34.9B | ¥33.9B | ¥29.6B |
| Net income | ¥29.3B | ¥29.3B | ¥23.5B | ¥23.0B | ¥19.1B |
| Free cash flow | -¥10.2B | -¥10.2B | -¥16.0B | -¥4.18B | ¥17.6B |
| Capital expenditure | ¥35.6B | ¥35.6B | ¥50.5B | ¥63.0B | ¥19.0B |
| Total debt | n/a | ¥360B | ¥327B | ¥297B | ¥292B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| ORIX JREIT 8954.T | $3.06B | -12% | +35% | 51% | 18.1× | n/a |
| United Urban Investment 8960.T | $3.04B | -15% | -2% | 36% | 16.7× | n/a |
| Japan Metropolitan Fund Investment 8953.T | $4.87B | -8% | 0% | 41% | 18.9× | n/a |
| MORI TRUST REIT.Inc 8961.T | $1.48B | -13% | -14% | 64% | 18.0× | n/a |
| Invincible Investment 8963.T | $2.94B | -1% | +10% | 57% | 15.3× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 8954.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -3.0% | +3.8% | 3rd lowest of 21 |
| 6-month return | -11.8% | -4.7% | 7th lowest of 21 |
| Distance from 52-week high | -19.9% | -12.6% | 8th lowest of 21 |
| Revenue growth (TTM) | +35.4% | +4.1% | 5th highest of 21 |
| Operating margin | 51.0% | 50.7% | 11th highest of 21 |
| Forward P/E | 18.1× | 18.1× | 10th cheapest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| ORIX JREIT 8954.T | Japan | $3.06B | -12% | +35% | 51% | 18.1× | n/a | n/a |
| United Urban Investment 8960.T | Japan | $3.04B | -15% | -2% | 36% | 16.7× | n/a | n/a |
| CT Real Estate Investment Trust CRT-UN.TO | Canada | $3.11B | +3% | +5% | 75% | 12.0× | n/a | n/a |
| Japan Hotel Reit Investment 8985.T | Japan | $3.14B | +7% | +15% | 67% | 9.4× | n/a | n/a |
| Daiwa House REIT Investment 8984.T | Japan | $3.15B | -13% | -9% | 40% | 20.5× | n/a | n/a |
| Park Hotels & Resorts PK | United States | $3.17B | +39% | -1% | 12% | 29.1× | n/a | n/a |
| Suntec Real Estate Investment Trust T82U.SI | Singapore | $3.18B | -7% | +1% | 56% | 19.4× | n/a | n/a |
| Invincible Investment 8963.T | Japan | $2.94B | -1% | +10% | 57% | 15.3× | n/a | n/a |
| DiamondRock Hospitality DRH | United States | $2.88B | +30% | +2% | 17% | 21.5× | n/a | n/a |
| Keppel REIT K71U.SI | Singapore | $3.27B | -5% | +5% | 49% | 19.2× | n/a | n/a |
| Derwent London DLN.L | United Kingdom | $2.87B | +15% | +45% | 40% | 20.0× | n/a | n/a |
| Hammerson HMSO.L | United Kingdom | $2.80B | +13% | +92% | 49% | 15.2× | n/a | n/a |
| Broadstone Net Lease BNL | United States | $3.36B | -12% | +8% | 48% | 26.1× | n/a | n/a |
| SmartCentres Real Estate Investment Trust SRU-UN.TO | Canada | $3.37B | -3% | -1% | 52% | 32.6× | n/a | n/a |
| Dynex Capital DX | United States | $2.77B | -20% | +142% | 65% | 6.6× | n/a | n/a |
| Frasers Logistics & Commercial Trust BUOU.SI | Singapore | $2.76B | -6% | 0% | 64% | 18.1× | n/a | n/a |
| Primary Health Properties PHP.L | United Kingdom | $3.41B | +6% | +104% | 81% | 13.1× | n/a | n/a |
| Frasers Centrepoint Trust J69U.SI | Singapore | $3.43B | -5% | +16% | 62% | 17.1× | n/a | n/a |
| Acadia Realty Trust AKR | United States | $2.74B | -9% | 0% | 19% | 65.9× | n/a | n/a |
| Canadian Apartment Properties Real Estate Investment Trust CAR-UN.TO | Canada | $3.45B | -14% | -7% | 61% | n/a | n/a | n/a |
| KDX Realty Investment 8972.T | Japan | $3.47B | -16% | +3% | 39% | 16.3× | n/a | n/a |