GLP J-REIT (TSE:3281) Construction In Progress: 円7 Mil (As of Feb. 2026)


TSE:3281 GLP J-REIT TSE:3281
71 GF Score
Price 円137,400.00
GF Value 円145,856.74
Valuation Fairly Valued
! 6 Warning Signs
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What is GLP J-REIT Construction In Progress?

GLP J-REIT TSE:3281 -0.72% 71 Construction In Progress is 円7 Mil as of Feb. 2026. GuruFocus rates TSE:3281 with a GF Score™ of 71/100 and a GF Value™ of 円145,856.74 (Fairly Valued). The stock has 6 warning signs investors should review.

GLP J-REIT's quarterly construction in progress stayed the same from Feb. 2025 (円0 Mil) to Aug. 2025 (円0 Mil) but then increased from Aug. 2025 (円0 Mil) to Feb. 2026 (円7 Mil).

GLP J-REIT Construction In Progress Historical Data

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The historical data trend for GLP J-REIT's Construction In Progress can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

GLP J-REIT Construction In Progress Chart

GLP J-REIT Annual Data
Trend Aug16 Aug17 Aug18 Aug19 Aug20 Aug21 Aug22 Aug23 Aug24 Aug25
Construction In Progress
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.00 0.00 0.00 0.00 0.00

GLP J-REIT Semi-Annual Data
Aug16 Feb17 Aug17 Feb18 Aug18 Feb19 Aug19 Feb20 Aug20 Feb21 Aug21 Feb22 Aug22 Feb23 Aug23 Feb24 Aug24 Feb25 Aug25 Feb26
Construction In Progress Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.00 0.00 0.00 0.00 6.87
TSE:3281
71GF Score
GLP J-REIT TSE:3281
Construction In Progress is just one metric. See GF Score™, valuation, warning signs, and more.
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GLP J-REIT Construction In Progress Calculation

It records the cost of construction work, which is not yet completed (typically, applied to capital budget items). A construction in progress item is not depreciated until the asset is placed in service. Normally, upon completion, a construction in progress item is reclassified, and the reclassified asset is capitalized and depreciated.

What does a Construction In Progress of 円7 Mil mean?
GLP J-REIT (TSE:3281) has a Construction In Progress of 円7 Mil as of Feb. 2026. Construction in Progress records the amount of construction work that is not complete. View historical data on GLP J-REIT and its competitors.
Is GLP J-REIT's Construction In Progress too high?
GLP J-REIT's current Construction In Progress is 円7 Mil. Overall, GLP J-REIT has a GF Score™ of 71/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does GLP J-REIT's Construction In Progress compare to PLD and PSA?
GLP J-REIT's Construction In Progress of 円7 Mil can be compared against companies in the REITs industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Construction In Progress for a REITs company?
A good Construction In Progress depends on the REITs industry context. However, Construction In Progress should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Construction In Progress mean?
A high Construction In Progress can signal that a stock is expensive relative to its fundamentals. Construction in Progress records the amount of construction work that is not complete. View historical data on GLP J-REIT and its competitors. GLP J-REIT's current Construction In Progress is 円7 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is GLP J-REIT stock overvalued right now?
Based on GuruFocus' analysis, GLP J-REIT (TSE:3281) is currently considered Fairly Valued. The stock's GF Value™ is 円145,856.74, compared to a current price of 円137,400.00 — trading 5.8% below its estimated fair value. The current Construction In Progress is 円7 Mil. GLP J-REIT's overall GF Score™ is 71/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Construction In Progress calculated?
Construction In Progress is calculated from a company's financial statements. For GLP J-REIT (TSE:3281), the current Construction In Progress is 円7 Mil as of Feb. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is GLP J-REIT (TSE:3281) Overvalued in 2026?

Based on GuruFocus' analysis, GLP J-REIT stock appears to be undervalued. The current stock price of 円137,400.00 is trading 5.8% below its estimated GF Value™ of 円145,856.74. GuruFocus considers GLP J-REIT to be Fairly Valued.

Key valuation signals for TSE:3281:

  • Construction In Progress: 円7 Mil
  • GF Value™: 円145,856.74 vs. price of 円137,400.00 (5.8% below fair value)
  • GF Score™: 71/100 with 6 warning signs

No single metric tells the full story. See the TSE:3281 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

GLP J-REIT Business Description

Industry Real EstateREITs
Address Tokyo Midtown Yaesu, 16F, Yaesu Central Tower, 2-2-1 Yaesu, Chuo-ku, Tokyo, JPN
GLP J-REIT is a Japan-based real estate investment trust. The company invests in logistic facilities and related real estate properties mainly located in Kanto and Kansai regions and other areas. Its properties are classified under Multi-tenant property and build-to-suit property segments. It holds a range of proprieties such as GLP Tokyo, GLP Sugito II, GLP Koshigaya II, GLP Misato II, GLP Amagasaki, GLP Higashi-Ogishima, GLP Akishima, GLP Tomisato, GLP Narashino II, GLP Funabashi, GLP Kazo, GLP Fukaya and others.
71GF Score

Get the complete analysis for TSE:3281

Construction In Progress is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

円137,400.00
Price
円145,856.74
GF Value