Advance Residence Investment ( (JP:3269) ) just unveiled an update.
Advance Residence Investment Corporation announced its decision to acquire and subsequently cancel its own investment units, aiming to enhance unitholder value in the medium to long term. This strategic move, involving a maximum acquisition of 18,000 units worth up to 2,000 million yen, reflects the company’s focus on improving capital efficiency and returning value to its stakeholders, considering factors like market environment and financial conditions.
More about Advance Residence Investment
Advance Residence Investment Corporation is the largest J-REIT specializing in residential properties, managed by ITOCHU REIT Management Co., Ltd. The company invests in over 280 rental apartments primarily located in central Tokyo and other major cities in Japan, with assets under management exceeding 490 billion yen. Known for its stable dividend and defensive positioning, ADR benefits from the stable income generated by residential assets and holds the largest dividend reserve among J-REITs.
YTD Price Performance: 21.62%
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $2.8B
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