Definitive Analysis
Definitive Analysis

Financial Statements

Fundamentals

Valuations

Miscellaneous

Analysis Mode

Search

Heiwa Real Estate REIT, Inc. (8966.T)

Company Dividend Discount ModelIndustry: REIT - DiversifiedSector: Real Estate

Valuation Snapshot

Stable Growth$1,094,712.67 - $2,535,443.11$2,376,081.51
Multi-Stage$381,798.73 - $417,545.33$399,344.98
Blended Fair Value$1,387,713.25
Current Price$127,700.00
Upside986.70%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS9.65%10.06%6,552.385,975.235,352.254,672.154,372.144,134.333,771.323,376.102,959.542,694.30
YoY Growth--9.66%11.64%14.56%6.86%5.75%9.63%11.71%14.08%9.84%7.28%
Dividend Yield--5.59%4.41%3.32%3.10%3.74%2.96%3.24%3.61%3.77%3.11%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)14,944.85
(-) Cash Dividends Paid (M)9,302.48
(=) Cash Retained (M)5,642.37
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)2,988.971,868.111,120.86
Cash Retained (M)5,642.375,642.375,642.37
(-) Cash Required (M)-2,988.97-1,868.11-1,120.86
(=) Excess Retained (M)2,653.403,774.264,521.50
(/) Shares Outstanding (M)1.171.171.17
(=) Excess Retained per Share2,263.523,219.693,857.14
LTM Dividend per Share7,935.627,935.627,935.62
(+) Excess Retained per Share2,263.523,219.693,857.14
(=) Adjusted Dividend10,199.1411,155.3111,792.76
WACC / Discount Rate6.48%6.48%6.48%
Growth Rate5.50%6.50%7.50%
Fair Value$1,094,712.67$2,376,081.51$2,535,443.11
Upside / Downside757.25%1,760.67%1,885.47%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)14,944.8515,916.2716,950.8218,052.6319,226.0520,475.7421,090.01
Payout Ratio62.25%67.80%73.35%78.90%84.45%90.00%92.50%
Projected Dividends (M)9,302.4810,790.6412,432.9614,243.1916,236.2218,428.1719,508.26

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.48%6.48%6.48%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)10,038.5310,133.6910,228.84
Year 2 PV (M)10,760.2010,965.1511,172.04
Year 3 PV (M)11,467.6911,796.8912,132.33
Year 4 PV (M)12,161.2112,628.8913,109.94
Year 5 PV (M)12,840.9413,461.1614,105.12
PV of Terminal Value (M)390,292.60409,143.88428,716.64
Equity Value (M)447,561.18468,129.66489,464.90
Shares Outstanding (M)1.171.171.17
Fair Value$381,798.73$399,344.98$417,545.33
Upside / Downside198.98%212.72%226.97%

High-Yield Dividend Screener

« Prev Page 7 of 151 Next »
Ticker Company Dividend Yield % Dividend Per Share Payout Ratio %
AZK.MCAzkoyen, S.A.10.20%$0.9060.65%
KAPIAB.STKallebäck Property Invest AB (publ)10.19%$21.0091.25%
0071.HKMiramar Hotel and Investment Company, Limited10.18%$1.0543.56%
SOND3.SASondotécnica Engenharia de Solos S.A.10.15%$4.8748.70%
0F6L.LEtablissements Maurel & Prom S.A.10.14%$0.5723.09%
SCCC-R.BKSiam City Cement Public Company Limited10.13%$14.4378.86%
2666.HKGenertec Universal Medical Group Company Limited10.12%$0.6027.87%
0G67.LSparebanken Vest10.11%$19.9465.51%
BY6.FBYD Company Limited10.11%$1.1123.20%
0N4Y.ILEtn. Fr. Colruyt NV10.10%$3.2128.64%
AMAG.JKPT Asuransi Multi Artha Guna Tbk10.10%$40.0099.08%
COLR.BRColruyt Group N.V.10.10%$3.2128.64%
2638.HKHK Electric Investments and HK Electric Investments Limited10.09%$0.6490.04%
GBUS.MIGibus S.p.A.10.09%$1.0050.80%
PT.BKPremier Technology Public Company Limited10.08%$1.2099.46%
1606.HKChina Development Bank Financial Leasing Co., Ltd.10.05%$0.1824.74%
CITA.JKPT Cita Mineral Investindo Tbk10.05%$445.0053.80%
BJTM.JKPT Bank Pembangunan Daerah Jawa Timur Tbk10.04%$54.7160.03%
EZTC3.SAEZTEC Empreendimentos e Participações S.A.10.04%$1.3855.20%
CRES.BACresud Sociedad Anónima, Comercial, Inmobiliaria, Financiera y Agropecuaria10.03%$194.1967.22%
0NX1.ILAalberts N.V.10.02%$2.8278.30%
Q-CON.BKQuality Construction Products Public Company Limited10.02%$0.6577.43%
QHHR.BKQuality Houses Hotel and Residence Freehold and Leasehold Property Fund10.01%$0.6729.76%
DPAM.PALes Docks des Pétroles d'Ambès -SA10.00%$92.0087.00%
ITNS.BKInternational Network System Public Company Limited10.00%$0.1589.11%
SMSM.JKPT Selamat Sempurna Tbk10.00%$175.0091.04%
9578.SRAtlas Elevators General Trading and Contracting Co.9.98%$1.5253.96%
1044.HKHengan International Group Company Limited9.96%$2.8161.10%
2282.HKMGM China Holdings Limited9.95%$1.2956.05%
036530.KSSNT Holdings Co., Ltd.9.94%$5,467.3751.15%
V03.SIVenture Corporation Limited9.94%$1.5188.95%
1118.HKGolik Holdings Limited9.91%$0.1221.69%
AJ91.DEDocCheck AG9.90%$1.2583.74%
SUSCO.BKSusco Public Company Limited9.90%$0.2172.28%
0267.HKCITIC Limited9.89%$1.2233.15%
AZJ.AXAurizon Holdings Limited9.89%$0.3687.87%
NOS.LSNos, S.g.p.s., S.a.9.89%$0.4080.94%
1113.HKCK Asset Holdings Limited9.84%$3.9651.18%
GC.BKGlobal Connections Public Company Limited9.79%$0.3985.45%
LLBN.SWLiechtensteinische Landesbank AG9.78%$8.2074.94%
001120.KSLX International Corp.9.77%$3,127.2297.53%
GVF.AXStaude Capital Global Value Fund Limited9.73%$0.1454.60%
0023.HKThe Bank of East Asia, Limited9.72%$1.3143.70%
HBTS5.SACompanhia Habitasul de Participações9.72%$2.8363.33%
LAVV3.SALavvi Empreendimentos Imobiliários S.A.9.70%$1.5362.21%
POPF.BKPrime Office Leasehold Property Fund9.70%$0.6681.20%
ASRNL.ASASR Nederland N.V.9.68%$5.9273.33%
0QMG.LSwiss Life Holding AG9.66%$50.7872.66%
1292.HKChangan Minsheng APLL Logistics Co., Ltd.9.66%$0.3852.62%
GMI.SWGroupe Minoteries S.A.9.65%$22.0062.67%