NTT UD REIT Investment Corporation (PICJF) Fair Value & Analysis
Real Estate · US · Market cap $1.3B
NTT UD REIT Investment Corporation
PICJF · US
Fair value as of: Jul 27, 2026
From 13 valuation models · updated 14 days ago
Fair value updated Jul 27, 2026, revised from $483.94 to $476.13 (−1.6%) since Jun 26, 2026.
A solid business, but screening 47% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case ($709.19). The favourable scenario is already priced in.
- Solid but not exceptional quality (59/100) 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 27, 2026.
How to read this chart
60‑month range $852.67 – $4,017 · fair‑value band $447.06 – $709.19 · the $892.43 price screens above the $476.13 fair value. Dashed = 300-day average. As of Jul 27, 2026.
Analysis
NTT UD REIT Investment Corporation (PICJF) currently trades at $892.43, while our model-based Fair Value estimate is $476.13, implying the stock looks roughly 46.7% overvalued today. The Quality Score stands at 59/100 (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, NTT UD REIT Investment Corporation generated revenue of $26.2B at a net margin of 34.4%. Revenue grew 7.5% year over year. It earns a return on equity of 5.7%. Net debt stands at $118B. Fundamentals as of Jul 27, 2026
Our scenario range runs from $447.06 (bear case) to $709.19 (bull case); at $892.43, 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 78% below its 52-week high and 5% above its 52-week low, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at -22% fair-value upside, at -47%, PICJF 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.
All 13 models by family
Widest divergence: Growth DCF ($89,711) versus Asset-Based ($66,849). Highest evidence: Growth DCF (80).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 27, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 59 · Market factors (momentum, volatility) 29
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
NTT UD REIT Investment Corporation (hereinafter referred to as the Investment Corporation) in accordance with the Act on Investment Trusts and Investment Corporations (hereinafter referred to as the Investment Trust Act) was listed on the Real Estate Investment Trust Securities Market of the Tokyo Stock Exchange (currently Tokyo Stock Exchange, Inc.; …
Full company description
NTT UD REIT Investment Corporation (hereinafter referred to as the Investment Corporation) in accordance with the Act on Investment Trusts and Investment Corporations (hereinafter referred to as the Investment Trust Act) was listed on the Real Estate Investment Trust Securities Market of the Tokyo Stock Exchange (currently Tokyo Stock Exchange, Inc.; hereinafter referred to as the Tokyo Stock Exchange) on September 10, 2002. Since then, the asset size has steadily expanded, with the total acquisition price (Note 1) of properties held increasing from 49,021 million yen (11 properties) at the end of the first fiscal period (April 30, 2003) to 296,474 million yen (62 properties, including one preferred equity interest) as of the end of the current fiscal period (October 31, 2025). The Investment Corporation has focused its investment area on the Tokyo Metropolitan Area (Note 2) and has been striving to secure stable earnings over the medium to long term by diversifying its investments into real estate primarily used for offices and residences. Since its first fiscal period in April 2003, the Investment Corporation has distributed profits 45 times up to the 45th fiscal period. NTT UD REIT Investment Corporation was established on May 2, 2002.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
NTT UD REIT Investment Corporation reported revenue of $26.5B in FY2025 versus $22.2B in FY2021, a compound +4.5%/yr. Reported net income was $8.4B in FY2025, compounding −3.6%/yr from FY2021.
PICJF screens 47% 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.
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 - Diversified stocks, each showing price versus our Fair Value estimate (as of Jul 27, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Goodman Group GMG | A$29.11 | A$7.37 | -75% |
| VICI Properties Inc VICI | $26.73 | $41.74 | +56% |
| W. P. Carey Inc WPC | $76.69 | $35.59 | -54% |
| Charter Hall Group CHC | A$21.90 | A$11.46 | -48% |
| Fibra Uno FUNO11 | 31.10 MXN | 63.56 MXN | +104% |
| COV COV | €52.55 | €62.39 | +19% |
| The GPT Group GPT | A$4.89 | A$3.49 | -29% |
| Mirvac Group MGR | A$1.70 | A$0.5700 | -66% |
| KLCC Property Holdings 5235SS | 8.85 MYR | 6.91 MYR | -22% |
| CRRUN CRRUN | C$17.65 | C$17.89 | +1% |
Compare NTT UD REIT Investment Corporation with another stock
Price, fair value, quality and upside side by side.
Explore undervalued stocks
More undervalued Real Estate stocks →
Frequently asked questions
Is NTT UD REIT Investment Corporation (PICJF) overvalued or undervalued?
What is the fair value of PICJF?
What is the quality score of PICJF?
What is the revenue of NTT UD REIT Investment Corporation (PICJF)?
What is the net profit margin of PICJF?
Does NTT UD REIT Investment Corporation pay a dividend?
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.
Track NTT UD REIT Investment Corporation and try Pro for 14 days
One email gets you 14 days of full Pro (review alerts, the 35,000+ stock screener, the diversification check) plus the monthly Top-25 report of the most undervalued quality stocks. No card, cancel anytime.
Zero risk: nothing is ever charged. After 14 days you decide whether to stay.