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Heiwa Real Estate REIT, Inc.
(8966)
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Rating:67Neutral
Price Target:
¥143,871
▼(-8.48% Downside)
Action:Reiterated
Date:08/29/26
The score is supported primarily by strong profitability and improved revenue growth, plus an attractive dividend yield. It is held back by weaker cash flow conversion/negative free cash flow and a soft technical setup with negative MACD and price below key longer-term moving averages.
Positive Factors
Re-accelerating Revenue Growth
The return to stronger revenue growth suggests improving leasing or portfolio income performance. If sustained, this can support higher net operating income and distributions, while strengthening the REIT’s ability to absorb property costs and financing expenses.
Negative Factors
Negative Free Cash Flow
The swing to negative free cash flow indicates that capital spending or other cash outflows are absorbing internally generated funds. If this pattern persists, it could reduce financial flexibility and increase reliance on debt or asset dispositions.
Read all positive and negative factors
Positive Factors
Negative Factors
Re-accelerating Revenue Growth
The return to stronger revenue growth suggests improving leasing or portfolio income performance. If sustained, this can support higher net operating income and distributions, while strengthening the REIT’s ability to absorb property costs and financing expenses.
Read all positive factors
Heiwa Real Estate REIT, Inc. (8966) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥176.00B
Dividend Yield6.06%
Average Volume (3M)3.53K
Price to Earnings (P/E)15.9
Beta (1Y)0.26
Revenue Growth24.25%
EPS Growth15.71%
CountryJP
EmployeesN/A
SectorGeneral
Sector StrengthN/A
IndustryREIT - Diversified
Share Statistics
EPS (TTM)8247.46
Shares Outstanding1,343,533
10 Day Avg. Volume3,549
30 Day Avg. Volume3,530
Financial Highlights & Ratios
PEG Ratio0.93
Price to Book (P/B)1.46
Price to Sales (P/S)9.33
P/FCF Ratio-20.37
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)7,875
Revenue Forecast (FY)¥22.10B
Heiwa Real Estate REIT, Inc. Business Overview & Revenue Model
Company Description
Heiwa Real Estate REIT, Inc. functions as an investment enterprise, accumulating capital from various investors. This capital is then predominantly allocated to real estate holdings. The company's primary objectives are to foster the expansion of ...
How the Company Makes Money
Heiwa Real Estate REIT, Inc. makes money primarily by earning rental revenue from tenants leasing space in the properties it owns. Its core revenue stream is lease-related income (base rent and other tenant charges such as common-area or property-...
Heiwa Real Estate REIT, Inc. Financial Statement Overview
Summary
Income Statement
86
Very Positive
Balance Sheet
67
Positive
Cash Flow
54
Neutral
| Breakdown | TTM | May 2026 | May 2025 | May 2024 | May 2023 | May 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 20.93B | 20.86B | 17.78B | 16.71B | 15.16B | 13.61B |
| Gross Profit | 11.43B | 13.67B | 11.15B | 10.40B | 9.39B | 8.29B |
| EBITDA | 13.74B | 13.57B | 11.09B | 10.54B | 9.42B | 8.49B |
| Net Income | 10.09B | 10.09B | 8.04B | 7.55B | 6.76B | 5.89B |
Balance Sheet | ||||||
| Total Assets | 272.94B | 272.94B | 249.19B | 240.87B | 221.53B | 203.21B |
| Cash, Cash Equivalents and Short-Term Investments | 18.25B | 14.20B | 11.78B | 12.87B | 12.50B | 11.22B |
| Total Debt | 128.37B | 128.37B | 114.04B | 112.54B | 99.56B | 90.86B |
| Total Liabilities | 139.78B | 139.78B | 124.30B | 122.34B | 108.52B | 99.01B |
| Stockholders Equity | 133.16B | 133.16B | 124.89B | 118.53B | 113.01B | 104.19B |
Cash Flow | ||||||
| Free Cash Flow | -8.63B | -9.55B | 457.78M | -5.90B | -9.65B | -8.03B |
| Operating Cash Flow | 17.20B | 17.20B | 12.95B | 11.30B | 13.29B | 8.80B |
| Investing Cash Flow | -26.43B | -26.43B | -13.50B | -19.19B | -23.50B | -17.09B |
| Financing Cash Flow | 12.06B | 12.06B | -632.70M | 11.11B | 10.12B | 7.86B |
Heiwa Real Estate REIT, Inc. Technical Analysis
Negative
157200.00
Price Trends
133620.00
Negative
135701.33
Negative
142553.50
Negative
Market Momentum
-454.36
Positive
41.58
Neutral
7.23
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:8966, the sentiment is Negative. The current price of 157200 is above the 20-day moving average (MA) of 132320.00, above the 50-day MA of 133620.00, and above the 200-day MA of 142553.50, indicating a bearish trend. The MACD of -454.36 indicates Positive momentum. The RSI at 41.58 is Neutral, neither overbought nor oversold. The STOCH value of 7.23 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:8966.
Heiwa Real Estate REIT, Inc. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | ¥150.68B | 18.64 | ― | 4.72% | 4.45% | 7.55% | |
67 Neutral | ¥176.89B | 17.67 | 8.09% | 4.35% | 6.01% | 7.66% | |
67 Neutral | ¥176.00B | 15.89 | ― | 6.06% | 24.25% | 15.71% | |
67 Neutral | ¥148.81B | 11.30 | ― | 6.09% | 41.54% | 6.84% | |
65 Neutral | ¥188.96B | 20.80 | ― | 4.93% | 14.47% | 1.64% | |
64 Neutral | ¥209.37B | 17.60 | ― | 5.70% | -5.60% | -3.93% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
JP:8966
Heiwa Real Estate REIT, Inc.
131,000.00
-10,023.39
-7.11%
JP:8957
TOKYU REIT
184,000.00
-4,635.69
-2.46%
JP:3296
NIPPON REIT Investment Corp
81,300.00
-11,291.24
-12.19%
JP:8956
NTT UD REIT Investment Corporation
127,500.00
-1,027.91
-0.80%
JP:8964
Frontier Real Estate Investment Corporation
77,400.00
-5,782.57
-6.95%
JP:8968
Fukuoka Reit Corporation
172,800.00
436.80
0.25%
Heiwa Real Estate REIT, Inc. Corporate Events
Heiwa Real Estate REIT Secures Short-Term Loan to Fund Residential Acquisitions
Jul 31, 2026
Heiwa Real Estate REIT, Inc. has arranged a new short-term borrowing of 2.9 billion yen from Sumitomo Mitsui Banking Corporation at a floating rate tied to the one-month JBA Japanese Yen TIBOR plus 0.20 percent. The unsecured, unguaranteed term lo...
Heiwa Real Estate REIT to Acquire Newly Built Tokyo Residential Asset with Rent Upside
Jul 31, 2026
Heiwa Real Estate REIT, Inc. plans to acquire HF MIZUE RESIDENCE, a newly completed residential property in Edogawa-ku, Tokyo, located within a nine-minute walk of Mizue Station on the Toei Shinjuku Line. The building offers convenient access to c...
Heiwa Real Estate REIT to Acquire Two Tokyo Residential Assets for ¥2.8 Billion
Jul 31, 2026
Heiwa Real Estate REIT, Inc. will acquire two residential assets in Edogawa-ku, Tokyo – HF MIZUE RESIDENCE and HF HIGASHIMIZUE RESIDENCE – for a combined expected price of 2.8 billion yen, with an appraisal value of 3.06 billion yen. T...
Heiwa Real Estate REIT Lifts Profit, Maintains Stable Payouts Despite Lower Outlook
Jul 16, 2026
Heiwa Real Estate REIT reported solid results for the 49th fiscal period to May 2026, with operating revenue rising 7.7% to ¥11.5 billion and profit climbing 9.0% to ¥5.68 billion, supported by higher operating profit and improved profit...
Heiwa Real Estate REIT Confirms Full Take-Up of Third-Party Allotment to Fund Debt Repayment and Acquisitions
Jun 19, 2026
Heiwa Real Estate REIT, Inc. has confirmed that its lead underwriter will subscribe in full to a third-party allotment of 4,300 new investment units, priced at ¥127,853 per unit and totaling roughly ¥549.8 million. Following the issuance...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.