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If a company's dividend payout ratio is too high, its dividend may not be sustainable. The dividend payout ratio of Daiwa Office Investment Corp is 0.98, which seems too high.
During the past 13 years, the highest Dividend Payout Ratio of Daiwa Office Investment was 1.00. The lowest was 0.95. And the median was 0.98.
During the past 12 months, Daiwa Office Investment's average Dividends Per Share Growth Rate was 8.50% per year.
During the past 3 years, the average Dividends Per Share Growth Rate was -0.60% per year.
During the past 5 years, the average Dividends Per Share Growth Rate was 1.00% per year.
During the past 10 years, the average Dividends Per Share Growth Rate was 5.40% per year.
During the past 13 years, the highest 3-Year average Dividends Per Share Growth Rate of Daiwa Office Investment was 25.00% per year. The lowest was -44.00% per year. And the median was 6.85% 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.
Over the long term, the return from dividends has been a significant contributor to the total returns produced by equity securities. Studies by Elroy Dimson, Paul Marsh, and Mike Staunton of Princeton University (2002) found that a market-oriented portfolio, which included reinvested dividends, would have generated nearly 85 times the wealth generated by the same portfolio relying solely on capital gains.
Dividends may also qualify a lower tax rate for investors.
In dividends investing, 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.
* 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:8976 vs BXP, ARE, VNO: Dividend Yield % Comparison
For the REIT - Office subindustry, Daiwa Office Investment's Dividend Yield %, along with its competitors' market caps and Dividend Yield % 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.
Daiwa Office Investment Dividend Yield % vs REITs Industry
For the REITs industry and Real Estate sector, Daiwa Office Investment's Dividend Yield % distribution charts can be found below:
* The bar in red indicates where Daiwa Office Investment's Dividend Yield % falls into.
Dividend Yield measures how much a company pays out in dividends each year relative to its share price.
Daiwa Office Investment Recent Full-Year* Dividend History
Amount
Ex-date
Record Date
Pay Date
Type
Frequency
Forex Rate
JPY 7560.000000
2026-05-28
2026-05-31
0000-00-00
Cash Dividend
semi-annually
JPY:JPY 1.000000
JPY 8020.000000
2025-11-27
2025-11-30
2026-02-13
Cash Dividend
semi-annually
JPY:JPY 1.000000
* GuruFocus has an internal rule that if the most recent dividend payment frequency is at least 4 times a year, then the full year will be calculated according to the frequency of payment or the one-year time frame, whichever is stricter.
* GuruFocus converts dividend currency to local traded share price currency in order to calculate dividend yield. Please refer to the last column "Forex Rate" in the above table.
* 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.
Daiwa Office Investment (TSE:8976) has a Dividend Yield % of 4.74% as of Jul. 13, 2026. Dividend yield is the ratio of company dividends to the share price. View historical data on Daiwa Office Investment and its competitors. This is 22% above median its historical median of 3.88. Over the past decade, Daiwa Office Investment's Dividend Yield % has ranged from 2.67 to 6.00. According to the industry distribution chart, Daiwa Office Investment ranks #670 out of 873 companies in the REITs industry, placing it in the top 76.7%.
Is Daiwa Office Investment's Dividend Yield % too high?
Daiwa Office Investment's current Dividend Yield % of 4.74% is 22% above median its 10-year median of 3.88. Over the past 10 years, this metric has ranged from a low of 2.67 to a high of 6.00. The REITs industry median Dividend Yield % is 6.82. Daiwa Office Investment's value of 4.74% is 30.5% below this industry median. Based on the distribution chart, Daiwa Office Investment ranks #670 out of 873 companies in the REITs industry, which is in the bottom quartile relative to peers. Overall, Daiwa Office Investment has a GF Score™ of 62/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Daiwa Office Investment's Dividend Yield % compare to BXP and ARE?
According to the REITs industry distribution chart, Daiwa Office Investment ranks #670 out of 873 companies for Dividend Yield %. This places Daiwa Office Investment in the lower half of its industry. The industry median Dividend Yield % is 6.82. Daiwa Office Investment's value of 4.74% is 30.5% below this benchmark. Historically, Daiwa Office Investment's own Dividend Yield % has ranged from 2.67 to 6.00 over the past decade. While the company's 10-year median is 3.88 vs. the industry median of 6.82, Daiwa Office Investment 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 Yield % for a REITs company?
The median Dividend Yield % among REITs companies is 6.82, based on 873 companies in the industry. Companies in the top quartile (top 25%) have a Dividend Yield % significantly above this median, while those in the bottom quartile fall well below. However, Dividend Yield % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Daiwa Office Investment's current Dividend Yield % of 4.74% is 30.5% 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 Yield % mean?
A high Dividend Yield % can signal that a stock is expensive relative to its fundamentals. Dividend yield is the ratio of company dividends to the share price. View historical data on Daiwa Office Investment and its competitors. For the REITs industry, the median Dividend Yield % is 6.82 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Daiwa Office Investment's current Dividend Yield % is 4.74%, which is 22% above median its own 10-year median of 3.88. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Daiwa Office Investment stock overvalued right now?
Based on GuruFocus' analysis, Daiwa Office Investment (TSE:8976) is currently considered Fairly Valued. The stock's GF Value™ is 円349,345.02, compared to a current price of 円329,500.00 — trading 5.7% below its estimated fair value. The current Dividend Yield % is 4.74%, which is 22% above median its 10-year median of 3.88 and 30.5% below the REITs industry median of 6.82. Daiwa Office Investment's overall GF Score™ is 62/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Dividend Yield % calculated?
Dividend Yield % is calculated from a company's financial statements. For Daiwa Office Investment (TSE:8976), the current Dividend Yield % is 4.74% as of Jul. 13, 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 Daiwa Office Investment (TSE:8976) Overvalued in 2026?
Based on GuruFocus' analysis, Daiwa Office Investment stock appears to be undervalued.
The current stock price of 円329,500.00 is trading 5.7% below its estimated GF Value™ of 円349,345.02.
GuruFocus considers Daiwa Office Investment to be Fairly Valued.
Key valuation signals for TSE:8976:
Dividend Yield %: 4.74% (22% above median its 10-year median of 3.88)
GF Value™: 円349,345.02 vs. price of 円329,500.00 (5.7% below fair value)
Industry Position: 30.5% below the REITs median (#670 of 873)
No single metric tells the full story. See the TSE:8976 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Daiwa Office Investment Corp is a real estate investment trust focused on acquiring, managing, and leasing office properties located in the Five Central Wards of Tokyo. The vast majority of the company's real estate portfolio is composed of office buildings fairly evenly distributed between Tokyo's Five Central Wards in terms of total value. Daiwa derives nearly all of its income in the form of rental revenue from leasing its properties. The firm has a varied tenant base from a number of industries, including the entertainment, retail, insurance, and food and beverage companies.
62GF Score
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