Daiwa House REIT Investment Corporation (DAWUF) Fair Value & Analysis

Real Estate · US · Market cap $3.8B

A solid business, but screening 30% overvalued on our models.

What matters now

• The price sits above even our optimistic bull case ($747.89). The favourable scenario is already priced in.
• Solid but not exceptional quality (67/100) and above fair value, neither a clear bargain nor a standout compounder.
• As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.

Price vs Fair Value (5 years)

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 26, 2026.

How to read this chart

60‑month range $744.79 – $882,058 · fair‑value band $437.05 – $747.89 · the $835.96 price screens above the $582.73 fair value. Dashed = 300-day average. As of Jul 26, 2026.

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Analysis

Daiwa House REIT Investment Corporation (DAWUF) currently trades at $835.96, while our model-based Fair Value estimate is $582.73, implying the stock looks roughly 30.3% overvalued today. The Quality Score stands at 67/100 (solid quality), in the Real Estate sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Daiwa House REIT Investment Corporation generated revenue of $59.8B at a net margin of 45.5%. It earns a return on equity of 5.9%. Net debt stands at $379B. The stock trades on a trailing P/E of 21.4. Fundamentals as of Jul 26, 2026

Our scenario range runs from $437.05 (bear case) to $747.89 (bull case); at $835.96, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 10% below its 52-week high and 5% above its 52-week low, currently above its 200-day average. For context, the median of 10 Real Estate peers we cover trades at -22% fair-value upside, at -30%, DAWUF screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Widest divergence: Multiples ($95,529) versus Asset-Based ($74,521). Highest evidence: Growth DCF (80).

Key figures & financial health

Quality Score breakdown

About the company

Daiwa House REIT Investment Corporation is a real estate investment trust (J-REIT) whose sponsor is Daiwa House Industry Co., Ltd. The asset manager is Daiwa House Asset Management Co., Ltd. (hereinafter referred to as the Asset Manager), a wholly owned subsidiary of Daiwa House.

Full company description

Daiwa House REIT Investment Corporation is a real estate investment trust (J-REIT) whose sponsor is Daiwa House Industry Co., Ltd. The asset manager is Daiwa House Asset Management Co., Ltd. (hereinafter referred to as the Asset Manager), a wholly owned subsidiary of Daiwa House. DHR was listed on the Real Estate Investment Trust (REIT) Market of the Tokyo Stock Exchange, Inc. (hereinafter referred to as the Tokyo Stock Exchange) on March 22, 2006, and then later merged with New City Residence Investment Corporation (hereinafter referred to as NCR) on April 1, 2010 (hereinafter referred to as the merger with NCR). Subsequently on December 1, 2011, the corporate name was changed to Daiwa House Residential Investment Corporation (the corporation prior to change of corporate name to Daiwa House REIT Investment Corporation is hereinafter referred to as the former DHI) and accordingly changed its investment targets to residential properties. The former Daiwa House REIT Investment Corporation (the Daiwa House REIT Investment Corporation, which was dissolved upon having merged with DHR as of September 1, 2016, is hereinafter referred to as the former DHR) was established on September 14, 2007, whose asset manager was Daiwa House REIT Management Co., Ltd., a wholly owned subsidiary of Daiwa House. The former DHR was listed on the Tokyo Stock Exchange Real Estate Investment Trust (REIT) Market on November 28, 2012, as a REIT that targets investment in logistics and retail properties. On September 1, 2016, the former DHI and the former DHR (hereinafter collectively referred to as the Investment Corporations) conducted an absorption-type merger (hereinafter referred to as the Merger) whereby the former DHI was the surviving corporation and the former DHR was the absorbed corporation, shifted to a diversified portfolio strategy that targets investment in new asset classes such as hotel and office properties, in addition to those that the Investment Corporations had targeted for investment in the past, and changed its corpora

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Daiwa House REIT Investment Corporation reported revenue of $66.7B in FY2026 versus $57.7B in FY2022, a compound +3.7%/yr. Reported net income was $28.2B in FY2026, compounding +5.5%/yr from FY2022.

DAWUF screens 30% overvalued. Compare with Goodman Group →

Peer Group

REIT - Diversified · 165 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Valuation Multiples vs REIT - Diversified median · lower = cheaper

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0: the price sits above our fair-value range.

Insider activity: 40/100

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

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Frequently asked questions

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.