Heiwa Real Estate REIT (TSE:8966) Dividend Payout Ratio: 0.95 (As of Nov. 2025) — Near Median

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TSE:8966 Heiwa Real Estate REIT Inc TSE:8966
70 GF Score
Price 円135,500.00
GF Value 円163,138.94
Valuation Modestly Undervalued
! 4 Warning Signs
View Full Analysis

What is Heiwa Real Estate REIT Dividend Payout Ratio?

Heiwa Real Estate REIT TSE:8966 +0.30% 70 Dividend Payout Ratio is 0.95 as of Nov. 2025, which is 4% below its 10-year median of 0.99. GuruFocus rates TSE:8966 with a GF Score™ of 70/100 and a GF Value™ of 円163,138.94 (Modestly Undervalued). The stock has 4 warning signs investors should review. Among 712 REITs companies, Heiwa Real Estate REIT ranks better than 55.06% on this metric.

The Dividend Payout Ratio is the measure of dividends paid out to shareholders relative to the company's net income. It is calculated as the Dividends per Share divided by the Earnings per Share (Diluted) during the same time period. Heiwa Real Estate REIT's Dividend Payout Ratio for the months ended in Nov. 2025 was 0.95.

Warning Sign:

If a company's dividend payout ratio is too high, its dividend may not be sustainable. The dividend payout ratio of Heiwa Real Estate REIT Inc is 0.95, which seems too high.

The historical rank and industry rank for Heiwa Real Estate REIT's Dividend Payout Ratio or its related term are showing as below:

TSE:8966' s Dividend Payout Ratio Range Over the Past 10 Years
Min: 0.9   Med: 0.99   Max: 1.04
Current: 0.95

During the past 13 years, the highest Dividend Payout Ratio of Heiwa Real Estate REIT was 1.04. The lowest was 0.90. And the median was 0.99.

TSE:8966's Dividend Payout Ratio is ranked better than
55.06% of 712 companies
in the REITs industry
Industry Median: 0.99 vs TSE:8966: 0.95

As of today (2026-07-16), the Dividend Yield % of Heiwa Real Estate REIT is 5.88%.

During the past 13 years, the highest Trailing Annual Dividend Yield of Heiwa Real Estate REIT was 7.45%. The lowest was 2.93%. And the median was 4.15%.

Heiwa Real Estate REIT's Dividends per Share for the months ended in Nov. 2025 was 円3,950.00.

During the past 12 months, Heiwa Real Estate REIT's average Dividends Per Share Growth Rate was 11.10% per year. During the past 3 years, the average Dividends Per Share Growth Rate was 8.10% per year. During the past 5 years, the average Dividends Per Share Growth Rate was 7.90% per year. During the past 10 years, the average Dividends Per Share Growth Rate was 8.30% per year.

During the past 13 years, the highest 3-Year average Dividends Per Share Growth Rate of Heiwa Real Estate REIT was 10.30% per year. The lowest was 3.60% per year. And the median was 7.30% per year.

The growth rate is calculated with least square regression.

For more information regarding to dividend, please check our Dividend Page.

* Please note that "special dividend" is not included in the calculation of dividend per share and related fields.

Heiwa Real Estate REIT (TSE:8966) Dividend Payout Ratio Explanation

In dividends investing, Dividend Payout Ratio and Dividend Growth Rate are the two most important variables for consideration. A lower payout ratio may indicate that the company has more room to increase its dividends.

Heiwa Real Estate REIT Dividend Payout Ratio Related Terms

Heiwa Real Estate REIT Dividend Payout Ratio Historical Data

* Premium members only.

The historical data trend for Heiwa Real Estate REIT's Dividend Payout Ratio 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.

Heiwa Real Estate REIT Dividend Payout Ratio Chart

Heiwa Real Estate REIT Annual Data
Trend Nov16 Nov17 Nov18 Nov19 Nov20 Nov21 Nov22 Nov23 Nov24 Nov25
Dividend Payout Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 1.00 0.99 0.97 1.04 0.95

Heiwa Real Estate REIT Semi-Annual Data
May16 Nov16 May17 Nov17 May18 Nov18 May19 Nov19 May20 Nov20 May21 Nov21 May22 Nov22 May23 Nov23 May24 Nov24 May25 Nov25
Dividend Payout Ratio 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 0.95 1.03 1.06 0.94 0.95

TSE:8966 vs VICI, WPC: Dividend Payout Ratio Comparison

For the REIT - Diversified subindustry, Heiwa Real Estate REIT's Dividend Payout Ratio, along with its competitors' market caps and Dividend Payout Ratio 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.

Heiwa Real Estate REIT Dividend Payout Ratio vs REITs Industry

For the REITs industry and Real Estate sector, Heiwa Real Estate REIT's Dividend Payout Ratio distribution charts can be found below:

* The bar in red indicates where Heiwa Real Estate REIT's Dividend Payout Ratio falls into.


TSE:8966
70GF Score
Heiwa Real Estate REIT Inc TSE:8966
Dividend Payout Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Heiwa Real Estate REIT Dividend Payout Ratio Calculation

The Dividend Payout Ratio is the measure of dividends paid out to shareholders relative to the company's net income. It is calculated as the Dividends per Share divided by the Earnings per Share (Diluted) during the same time period.

Heiwa Real Estate REIT's Dividend Payout Ratio for the fiscal year that ended in Nov. 2025 is calculated as

Dividend Payout Ratio=Dividends per Share (A: Nov. 2025 )/ EPS without NRI (A: Nov. 2025 )
=7800/ 8238.142
=0.95

Heiwa Real Estate REIT's Dividend Payout Ratio for the quarter that ended in Nov. 2025 is calculated as

Dividend Payout Ratio=Dividends per Share (Q: Nov. 2025 )/ EPS without NRI (Q: Nov. 2025 )
=3950/ 4156.763
=0.95

* 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.

Frequently Asked Questions Learn more about Dividend Payout Ratio →
What does a Dividend Payout Ratio of 0.95 mean?
Heiwa Real Estate REIT (TSE:8966) has a Dividend Payout Ratio of 0.95 as of Nov. 2025. Dividend payout ratio is the percent of company earnings paid out as dividends. View historical data on Heiwa Real Estate REIT and its competitors. This is near median its historical median of 0.99. Over the past decade, Heiwa Real Estate REIT's Dividend Payout Ratio has ranged from 0.90 to 1.04. According to the industry distribution chart, Heiwa Real Estate REIT ranks #320 out of 712 companies in the REITs industry, placing it in the top 44.9%.
Is Heiwa Real Estate REIT's Dividend Payout Ratio too high?
Heiwa Real Estate REIT's current Dividend Payout Ratio of 0.95 is near median its 10-year median of 0.99. Over the past 10 years, this metric has ranged from a low of 0.90 to a high of 1.04. The REITs industry median Dividend Payout Ratio is 0.99. Heiwa Real Estate REIT's value of 0.95 is 4% below this industry median. Based on the distribution chart, Heiwa Real Estate REIT ranks #320 out of 712 companies in the REITs industry, which is above the industry midpoint. Overall, Heiwa Real Estate REIT has a GF Score™ of 70/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Heiwa Real Estate REIT's Dividend Payout Ratio compare to VICI and WPC?
According to the REITs industry distribution chart, Heiwa Real Estate REIT ranks #320 out of 712 companies for Dividend Payout Ratio. This puts Heiwa Real Estate REIT in the upper half of its industry. The industry median Dividend Payout Ratio is 0.99. Heiwa Real Estate REIT's value of 0.95 is 4% below this benchmark. Historically, Heiwa Real Estate REIT's own Dividend Payout Ratio has ranged from 0.90 to 1.04 over the past decade. While the company's 10-year median is 0.99 vs. the industry median of 0.99, Heiwa Real Estate REIT has consistently been below 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 Dividend Payout Ratio for a REITs company?
The median Dividend Payout Ratio among REITs companies is 0.99, based on 712 companies in the industry. Companies in the top quartile (top 25%) have a Dividend Payout Ratio significantly above this median, while those in the bottom quartile fall well below. However, Dividend Payout Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Heiwa Real Estate REIT's current Dividend Payout Ratio of 0.95 is 4% below 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 Dividend Payout Ratio mean?
A high Dividend Payout Ratio can signal that a stock is expensive relative to its fundamentals. Dividend payout ratio is the percent of company earnings paid out as dividends. View historical data on Heiwa Real Estate REIT and its competitors. For the REITs industry, the median Dividend Payout Ratio is 0.99 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Heiwa Real Estate REIT's current Dividend Payout Ratio is 0.95, which is near median its own 10-year median of 0.99. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Heiwa Real Estate REIT stock overvalued right now?
Based on GuruFocus' analysis, Heiwa Real Estate REIT (TSE:8966) is currently considered Modestly Undervalued. The stock's GF Value™ is 円163,138.94, compared to a current price of 円135,500.00 — trading 16.9% below its estimated fair value. The current Dividend Payout Ratio is 0.95, which is near median its 10-year median of 0.99 and 4% below the REITs industry median of 0.99. Heiwa Real Estate REIT's overall GF Score™ is 70/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Dividend Payout Ratio calculated?
Dividend Payout Ratio is calculated from a company's financial statements. For Heiwa Real Estate REIT (TSE:8966), the current Dividend Payout Ratio is 0.95 as of Nov. 2025. 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 Heiwa Real Estate REIT (TSE:8966) Overvalued in 2026?

Based on GuruFocus' analysis, Heiwa Real Estate REIT stock appears to be undervalued. The current stock price of 円135,500.00 is trading 16.9% below its estimated GF Value™ of 円163,138.94. GuruFocus considers Heiwa Real Estate REIT to be Modestly Undervalued.

Key valuation signals for TSE:8966:

  • Dividend Payout Ratio: 0.95 (near median its 10-year median of 0.99)
  • GF Value™: 円163,138.94 vs. price of 円135,500.00 (16.9% below fair value)
  • GF Score™: 70/100 with 4 warning signs
  • Industry Position: 4% below the REITs median (#320 of 712)

No single metric tells the full story. See the TSE:8966 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Heiwa Real Estate REIT Business Description

Industry Real EstateREITs
Address 5-1, Nihonbashi-kabutocho, Chuo-ku, Tokyo, JPN, 105-6237
Heiwa Real Estate REIT Inc is a real estate company that invests in office buildings and residential buildings located in the Tokyo Metropolitan Area and other cities across Japan. The company leases its buildings for rental revenue and renovates its properties. The tenants include both individuals and businesses from various industries such as wholesale and retail, manufacturing, and information and technology services.
70GF Score

Get the complete analysis for TSE:8966

Dividend Payout Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

円135,500.00
Price
円163,138.94
GF Value