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LaSalle LOGIPORT REIT (3466) investor relations material
LaSalle LOGIPORT REIT Q2 2027 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Six-month revenue rose 5.9% YoY to ¥13,210M; operating income rose 6.1% to ¥7,335M and net income rose 7.3% to ¥6,458M.
Total distribution was ¥4,040 per unit; portfolio occupancy was 99.2% across 19 properties and 170 tenants at Aug. 31, 2026.
Financial highlights
FP26/8 operating revenue was ¥13,210M, NOI ¥8,471M and operating income ¥7,335M; ordinary income and net income were ¥6,458M.
Property-sale gains were ¥2,144M; real estate leasing revenue was ¥10,773M and leasing profit ¥7,024M.
Distribution was ¥3,892 per unit from earnings plus ¥148 in excess of retained earnings, totaling ¥4,040 versus ¥3,725 in the prior period.
Normalized same-store rent revenue was ¥9.5Bn vs. ¥9.2Bn, CAGR +1.3%; same-store NOI was ¥7.9Bn vs. ¥7.5Bn, CAGR +1.6%.
Outlook and guidance
Forecast distributions are ¥4,000 per unit in both Feb. and Aug. 2027; Aug. 2027 comprises ¥3,510 from earnings and ¥490 in excess of retained earnings.
Feb. 2027 forecast net income is ¥6,360M; Aug. 2027 forecast net income is ¥5,581M and EPU is ¥3,510.
Forecast occupancy averages 98.9% in Feb. 2027 and 98.3% in Aug. 2027, with downtime at LP Osaka Bay contributing to the latter.
FP28/8 terminal adjusted DPU guidance is ~¥3,360, implying +2.5% CAGR from FP23/8; potential dispositions of ~¥25Bn support the outlook.
- DPU rose 23% to ¥3,802 as phased sales supported a ~¥3,600 outlook.3466
Q4 2024 - 17th-period earnings eased, while 99.1% occupancy and capital returns anchor plans.3466
Q2 2025 - Staged asset gains and 99.0% occupancy support a ¥3,750 DPU forecast for 16th FP.3466
Q2 2024 - Record ¥4,005 DPU and active capital recycling amid rising financing costs.3466
Q4 2025 - 99% occupancy and earnings growth; ¥10bn buyback approved, with lower guidance ahead.3466
Q2 2026 - Rent growth and buybacks cushion lower sale gains as rate costs weigh on DPU.3466
Q4 2026
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