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Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.
He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.
He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.
What he found was something that exceeded his most optimistic expectations.
Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.
Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).
Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.
LaSalle LOGIPORT REIT Piotroski F-Score Related Terms
LaSalle LOGIPORT REIT Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for LaSalle LOGIPORT REIT's Piotroski F-Score 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.
TSE:3466 vs PLD, PSA, EXR: Piotroski F-Score Comparison
For the REIT - Industrial subindustry, LaSalle LOGIPORT REIT's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
LaSalle LOGIPORT REIT Piotroski F-Score vs REITs Industry
For the REITs industry and Real Estate sector, LaSalle LOGIPORT REIT's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where LaSalle LOGIPORT REIT's Piotroski F-Score falls into.
* 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.
*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.
Profitability
Question 1. Return on Assets (ROA)
Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.
Score 1 if positive, 0 if negative.
LaSalle LOGIPORT REIT's current Net Income (TTM) was 12,905.
==> Positive ==> Score 1.
Question 2. Cash Flow Return on Assets (CFROA)
Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.
Score 1 if positive, 0 if negative.
LaSalle LOGIPORT REIT's current Cash Flow from Operations (TTM) was 26,044.
==> Positive ==> Score 1.
Question 3. Change in Return on Assets
Compare this year's return on assets (1) to last year's return on assets.
LaSalle LOGIPORT REIT's return on assets of this year was 0.03173741. LaSalle LOGIPORT REIT's return on assets of last year was 0.03188668.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
LaSalle LOGIPORT REIT's gearing of this year was 0.38259721. LaSalle LOGIPORT REIT's gearing of last year was 0.3514265.
==> Last year is lower than this year ==> Score 0.
Question 6. Change in Working Capital (Liquidity)
Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.
Score 1 if this year's current ratio is higher, 0 if it's lower
LaSalle LOGIPORT REIT's current ratio of this year was 1.1272601. LaSalle LOGIPORT REIT's current ratio of last year was 0.86004865.
==> This year's current ratio is higher. ==> Score 1.
Question 7. Change in Shares in Issue
Compare the number of shares in issue this year, to the number in issue last year.
Score 0 if there is larger number of shares in issue this year, 1 otherwise.
LaSalle LOGIPORT REIT's number of shares in issue this year was 1.796. LaSalle LOGIPORT REIT's number of shares in issue last year was 1.868.
==> There is smaller number of shares in issue this year, or the same. ==> Score 1.
Efficiency
Question 8. Change in Gross Margin
Compare this year's gross margin (Gross Profit divided by sales) to last year's.
Score 1 if this year's gross margin is higher, 0 if it's lower.
LaSalle LOGIPORT REIT's gross margin of this year was 0.70514453. LaSalle LOGIPORT REIT's gross margin of last year was 0.69784353.
==> This year's gross margin is higher. ==> Score 1.
Question 9. Change in asset turnover
Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.
Score 1 if this year's asset turnover ratio is higher, 0 if it's lower
LaSalle LOGIPORT REIT's asset turnover of this year was 0.06392755. LaSalle LOGIPORT REIT's asset turnover of last year was 0.06379876.
==> This year's asset turnover is higher. ==> Score 1.
Evaluation
Piotroski F-Score
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7
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
LaSalle LOGIPORT REIT has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.
LaSalle LOGIPORT REIT (TSE:3466) has a Piotroski F-Score of 7 as of Jul. 16, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on LaSalle LOGIPORT REIT and its competitors. This is near median its historical median of 7.00. Over the past decade, LaSalle LOGIPORT REIT's Piotroski F-Score has ranged from 4.00 to 7.00. According to the industry distribution chart, LaSalle LOGIPORT REIT ranks #69 out of 881 companies in the REITs industry, placing it in the top 7.8%.
Is LaSalle LOGIPORT REIT's Piotroski F-Score too high?
LaSalle LOGIPORT REIT's current Piotroski F-Score of 7 is near median its 10-year median of 7.00. Over the past 10 years, this metric has ranged from a low of 4.00 to a high of 7.00. The REITs industry median Piotroski F-Score is 6.00. LaSalle LOGIPORT REIT's value of 7 is 16.7% above this industry median. Based on the distribution chart, LaSalle LOGIPORT REIT ranks #69 out of 881 companies in the REITs industry, which is in the top quartile — a strong position relative to peers. Overall, LaSalle LOGIPORT 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 LaSalle LOGIPORT REIT's Piotroski F-Score compare to PLD and PSA?
According to the REITs industry distribution chart, LaSalle LOGIPORT REIT ranks #69 out of 881 companies for Piotroski F-Score. This places LaSalle LOGIPORT REIT in the top 8% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 6.00. LaSalle LOGIPORT REIT's value of 7 is 16.7% above this benchmark. Historically, LaSalle LOGIPORT REIT's own Piotroski F-Score has ranged from 4.00 to 7.00 over the past decade. While the company's 10-year median is 7.00 vs. the industry median of 6.00, LaSalle LOGIPORT REIT has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Piotroski F-Score for a REITs company?
The median Piotroski F-Score among REITs companies is 6.00, based on 881 companies in the industry. Companies in the top quartile (top 25%) have a Piotroski F-Score significantly above this median, while those in the bottom quartile fall well below. However, Piotroski F-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. LaSalle LOGIPORT REIT's current Piotroski F-Score of 7 is 16.7% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Piotroski F-Score mean?
A high Piotroski F-Score can signal that a stock is expensive relative to its fundamentals. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on LaSalle LOGIPORT REIT and its competitors. For the REITs industry, the median Piotroski F-Score is 6.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. LaSalle LOGIPORT REIT's current Piotroski F-Score is 7, which is near median its own 10-year median of 7.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is LaSalle LOGIPORT REIT stock overvalued right now?
Based on GuruFocus' analysis, LaSalle LOGIPORT REIT (TSE:3466) is currently considered Fairly Valued. The stock's GF Value™ is 円160,169.81, compared to a current price of 円148,600.00 — trading 7.2% below its estimated fair value. The current Piotroski F-Score is 7, which is near median its 10-year median of 7.00 and 16.7% above the REITs industry median of 6.00. LaSalle LOGIPORT REIT's overall GF Score™ is 71/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Piotroski F-Score calculated?
Piotroski F-Score is calculated from a company's financial statements. For LaSalle LOGIPORT REIT (TSE:3466), the current Piotroski F-Score is 7 as of Jul. 16, 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 LaSalle LOGIPORT REIT (TSE:3466) Overvalued in 2026?
Based on GuruFocus' analysis, LaSalle LOGIPORT REIT stock appears to be undervalued.
The current stock price of 円148,600.00 is trading 7.2% below its estimated GF Value™ of 円160,169.81.
GuruFocus considers LaSalle LOGIPORT REIT to be Fairly Valued.
Key valuation signals for TSE:3466:
Piotroski F-Score: 7 (near median its 10-year median of 7.00)
GF Value™: 円160,169.81 vs. price of 円148,600.00 (7.2% below fair value)
Industry Position: 16.7% above the REITs median (#69 of 881)
No single metric tells the full story. See the TSE:3466 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
LaSalle LOGIPORT REIT is a Japan-based real estate investment trust. The company intends to invest in facilities that cater to its tenant's needs for integrated and efficient logistics operations. The majority of firm's assets are located in Tokyo area. The firm focuses on investments in prime logistics within the Tokyo and Osaka area. Its growth strategy is backed by the sponsor group's support.
71GF Score
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Piotroski F-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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