Japan Metropolitan Fund Investment Corporation (JRFIF) Fair Value & Analysis
Real Estate · US · Market cap $4.5B
Japan Metropolitan Fund Investment Corporation
JRFIF · US
Fair value as of: Jul 26, 2026
From 7 valuation models · updated 15 days ago
Fair value updated Jul 26, 2026, revised from $475.84 to $468.17 (−1.6%) since Jun 26, 2026.
A solid business, but screening 25% overvalued on our models.
What matters now
- Solid but not exceptional quality (51/100) 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 $458.68 – $728.50 · fair‑value band $395.41 – $659.02 · the $623.98 price screens above the $468.17 fair value. Dashed = 300-day average. As of Jul 26, 2026.
Analysis
Japan Metropolitan Fund Investment Corporation (JRFIF) currently trades at $623.98, while our model-based Fair Value estimate is $468.17, implying the stock looks roughly 25.0% overvalued today. The Quality Score stands at 51/100 (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, Japan Metropolitan Fund Investment Corporation generated revenue of $101B at a net margin of 44.8%. Revenue grew 20.8% year over year. It earns a return on equity of 7.0%. Net debt stands at $549B. Fundamentals as of Jul 26, 2026
Our scenario range runs from $395.41 (bear case) to $659.02 (bull case); at $623.98, the current price sits within 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 near its 52-week high and 13% above its 52-week low, currently above its 200-day average. For context, the median of 10 Real Estate peers we cover trades at -53% fair-value upside, at -25%, JRFIF screens cheaper 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.
All 7 models by family
Widest divergence: Multiples ($76,748) versus Asset-Based ($60,489). Highest evidence: Residual Income (61).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 26, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 49 · Market factors (momentum, volatility) 69
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
Japan Metropolitan Fund Investment Corporation was established under the Law Concerning Investment Trusts and Investment Corporations of Japan. It was the first investment corporation in Japan to specifically target retail real estate assets.
Full company description
Japan Metropolitan Fund Investment Corporation was established under the Law Concerning Investment Trusts and Investment Corporations of Japan. It was the first investment corporation in Japan to specifically target retail real estate assets. It was listed on the Real Estate Investment Trust (REIT) Section of the Tokyo Stock Exchange (securities code: 8953) on March 12, 2002. After that, JMF effected an absorption-type merger (the Merger) effective on March 1, 2021, with JMF as the surviving corporation and MCUBS MidCity Investment Corporation as the dissolving corporation and changed the corporation name from Japan Retail Fund Investment Corporation to Japan Metropolitan Fund Investment Corporation. JMF seeks to enhance its total return (Distribution Per Unit and Net Asset Value) by expanding its growth cycle driven by internal growth and return of gains on sales and acquired two properties and disposed of five properties (including partial dispositions) during the fiscal period ended August 31, 2025. As a result, the total assets managed by JMF at the end of the 47th fiscal period (fiscal period ended on August 31, 2025) amounted to 1,262.0 billion yen (the total acquisition price for 145 properties). The total acquisition price including investment securities such as the silent partnership interests and the investment units of domestic real estate investment corporation is 1,282.4 billion yen. Japan Metropolitan Fund Investment Corporation was incorporated in 2001 in Japan.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2022 – FY2026 · reported fiscal years
Japan Metropolitan Fund Investment Corporation reported revenue of $95.6B in FY2026 versus $70.9B in FY2022, a compound +7.8%/yr. Reported net income was $41.5B in FY2026, compounding +13.0%/yr from FY2022.
JRFIF screens 25% overvalued. Compare with Simon Property Group →
Peer Group
REIT - Retail · 107 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 - Retail 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.
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.
Similar stocks
10 more REIT - Retail stocks, each showing price versus our Fair Value estimate (as of Jul 26, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Simon Property Group SPG | $229.78 | $86.11 | -63% |
| Realty Income Corporation O | $65.60 | $30.71 | -53% |
| Unibail-Rodamco-Westfield SE URW | €103.65 | €101.67 | -2% |
| Kimco Realty Corporation KIM | $26.10 | $12.60 | -52% |
| CapitaLand Integrated Commercial Trust (CICT or the Trust) C38U | 2.47 SGD | 0.9100 SGD | -63% |
| Scentre Group SCG | A$3.93 | A$3.34 | -15% |
| Regency Centers Corporation REG | $82.15 | $33.69 | -59% |
| Link Real Estate Investment Trust (Link REIT) 0823 | HK$39.22 | HK$41.98 | +7% |
| Federal Realty Investment Trust FRT | $126.08 | $41.96 | -67% |
| Brixmor Property Group BRX | $32.44 | $13.18 | -59% |
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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.
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