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Global One Real Estate Investment Corp. (8958.T)

Company Dividend Discount ModelIndustry: REIT - OfficeSector: Real Estate

Valuation Snapshot

Stable Growth$805,154.51 - $2,888,704.27$2,590,062.93
Multi-Stage$374,217.74 - $409,032.49$391,307.70
Blended Fair Value$1,490,685.32
Current Price$143,000.00
Upside942.44%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2025202420232022202120202019201820172016
DPS0.00%0.00%0.006,100.145,197.944,549.744,675.454,590.093,811.613,547.722,862.252,108.37
YoY Growth---100.00%17.36%14.25%-2.69%1.86%20.42%7.44%23.95%35.76%-30.52%
Dividend Yield--0.00%6.14%4.53%4.15%4.03%4.54%2.61%3.08%3.12%2.18%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)14,602.67
(-) Cash Dividends Paid (M)8,667.67
(=) Cash Retained (M)5,935.00
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)2,920.531,825.331,095.20
Cash Retained (M)5,935.005,935.005,935.00
(-) Cash Required (M)-2,920.53-1,825.33-1,095.20
(=) Excess Retained (M)3,014.474,109.674,839.80
(/) Shares Outstanding (M)1.011.011.01
(=) Excess Retained per Share2,998.484,087.874,814.13
LTM Dividend per Share8,621.708,621.708,621.70
(+) Excess Retained per Share2,998.484,087.874,814.13
(=) Adjusted Dividend11,620.1812,709.5713,435.83
WACC / Discount Rate7.02%7.02%7.02%
Growth Rate5.50%6.50%7.50%
Fair Value$805,154.51$2,590,062.93$2,888,704.27
Upside / Downside463.05%1,711.23%1,920.07%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)14,602.6715,551.8416,562.7117,639.2918,785.8420,006.9220,607.13
Payout Ratio59.36%65.49%71.61%77.74%83.87%90.00%92.50%
Projected Dividends (M)8,667.6710,184.1811,861.2313,713.2615,755.9418,006.2319,061.59

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.02%7.02%7.02%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)9,426.579,515.929,605.27
Year 2 PV (M)10,162.1210,355.6810,551.07
Year 3 PV (M)10,874.8311,187.0111,505.11
Year 4 PV (M)11,565.2112,009.9812,467.45
Year 5 PV (M)12,233.7512,824.6413,438.15
PV of Terminal Value (M)321,950.40337,500.73353,646.20
Equity Value (M)376,212.88393,393.96411,213.24
Shares Outstanding (M)1.011.011.01
Fair Value$374,217.74$391,307.70$409,032.49
Upside / Downside161.69%173.64%186.04%

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