Japan Real Estate Investment (TYO:8952) has raised its net profits forecast for the half-year period ending Sept. 30 to 19.1 billion yen from 17.8 billion yen initially, according to its Tokyo bourse filing on Thursday.
The REIT now expects operating revenues of 43.6 billion yen, up from 41.2 billion yen previously. It kept its dividend per unit forecast unchanged at 2,561 yen.
For the subsequent six months ending March 31, 2027, the REIT forecasts net profits of 18.3 billion yen, operating revenues of 42.1 billion, and a dividend of 2,586 yen per unit.
The upward revision was driven by recent and planned property acquisitions, including The Link Sapporo, additional stakes in Kandabashi Park Building and Shinjuku Eastside Square, and the pending acquisitions of Sapporo Arch Building and CO-MO-RE YOTSUYA."
The forecast also reflects changes in assumptions following a board resolution to issue new investment units to fund these acquisitions.
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