1. South Korea Stocks

  2. •

    Finance

  3. •

    Real estate investment trusts
ESR Kendall Square REIT Co., Ltd.

ESR Kendall Square REIT Co., Ltd.

KKRX:365550
3,100.00
KRW
+40.00
(+1.31%)
-4.86EPS
1.06TMarket Cap
ESR Kendall Square REIT Co., Ltd.
KRX:365550
(Korea Stock Exchange)

Recent

price

3,100.00

P/E

ratio

- -

div

yld

- -

ROIC.AI

2020
2020
2021
2021
2022
2022
2022
2022
2023
2023
2024
2024
2025
2025
2026
TTM
KRW
- -
- -
165.16
206.49
255.82
223.26
223.21
227.44
228.43
247
259.48
265.1
275.46
242.64
266.6
258.07
Revenue per Share
-134.29
-133.33
37.68
65.15
59.28
144.13
52.8
59.23
129.32
55.28
104.64
16.78
45.89
-14
25.94
-4.86
Basic EPS, GAAP
-148.31
-31.28
61.71
125.18
-6,376.42
101.23
-3,621.72
120.45
125.93
170.26
108.81
35.32
120.25
36
88.84
- -
Free Cash Flow per Basic Share
- -
- -
- -
132.32
- -
91.69
- -
132.52
133.78
134.17
135.56
136.07
137
118.93
139
- -
Dividend per Share
29.45
1,613.5
4,792.88
4,829.48
- -
5,330.29
- -
5,257.13
5,252.65
5,174.29
5,143.44
5,024.88
4,934.9
4,734.88
4,621.82
4,618.11
Book Value per Share
29.45
1,613.47
4,792.85
4,829.45
- -
5,330.27
- -
5,257.11
5,252.63
5,174.27
5,143.42
5,024.86
4,934.88
4,734.79
4,621.73
4,618.02
Tangible Book Value per Share
1
10
144
146
146
209
209
215
217
214
215
215
213
245
246
239
Basic Weighted Avg Shares
- -
- -
23,710
30,063
37,244
46,743
46,732
49,006
49,483
52,958
55,878
56,876
58,697
59,558
65,606
61,583
Sales/Revenue/Turnover
- -
- -
34.18
49
46.29
50.89
45.45
46.01
52.7
45.69
51.55
46.68
48.9
43.42
52.05
45.19
Operating Margin (%)
- -
- -
5,907
7,683
10,025
13,072
13,090
13,778
13,834
14,849
15,606
15,808
16,200
16,777
17,947
17,169
Depreciation Expense
-125
-1,369
5,409
9,485
8,631
30,175
11,055
12,762
28,014
11,852
22,534
3,601
9,779
-3,436
6,384
-1,160
Net Income, GAAP
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Effective Tax Rate (%)
- -
- -
22.81
31.55
23.17
64.56
23.66
26.04
56.61
22.38
40.33
6.33
16.66
-5.77
9.73
-1.88
Profit Margin (%)
- -
239,244
21,918
-10,795
- -
40,958
- -
39,241
-229,746
-190,850
-259,442
35,035
-458,864
20,234
-484,128
-496,182
Working Capital
- -
- -
446,570
668,142
- -
1,060,285
- -
1,062,285
919,986
912,070
960,116
1,342,856
862,637
1,430,191
939,319
938,334
LT Debt
4,367
239,248
710,682
704,357
- -
1,150,585
- -
1,134,793
1,133,827
1,116,913
1,110,253
1,084,661
1,065,238
1,165,202
1,137,379
1,136,465
Total Equity
- -
- -
1.07
1.15
- -
- -
- -
- -
1.16
1.05
1.23
1.09
1.17
- -
1.25
- -
Return on Invested Capital (%)
- -
- -
1.52
1.44
- -
- -
- -
- -
1.95
1.34
2.05
1.22
1.61
- -
1.54
- -
Return on Capital (%)
- -
-1.12
1.14
1.34
- -
- -
- -
- -
2.47
1.05
2.02
0.33
0.91
-0.31
0.55
-0.11
Return on Common Equity (%)

Capital Structure

KRW

•

in mil. unless spec.
Feb'25
Aug'25
Feb'26
ST Debt
410,098
- -
624,196
LT Borrowings
960,971
- -
938,334
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
216
246
246
Market Capitalization
1,032,424
1,079,100
1,064,335

Working Capital

KRW

•

in mil. unless spec.
Feb'25
Aug'25
Feb'26
Total Current Assets
86,434
- -
203,803
Cash, Cash Equivalents & STI
69,536
- -
179,734
Accounts Receivable, Net
- -
- -
- -
Inventories
- -
- -
- -
Total Current Liabilities
453,528
- -
699,984
Payables & Accruals
- -
- -
- -
ST Debt
410,098
- -
624,196
Deferred Revenue
- -
- -
- -

Growth Rates

KRW

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
- -
0.46%
-2.39%
Free Cash Flow
-362.8%
43.32%
147.42%
Net Income, GAAP
2.03%
-48.64%
-285.76%
Sales/Revenue/Turnover
6.05%
4.43%
10.16%
Total Cash Common Dividend
- -
- -
17.17%

Quarterly Revenue

KRW

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
27,814
- -
28,147
- -
- -
2025
29,323
- -
29,119
- -
59,558
2026
- -
- -
32,464
- -
65,606

Quarterly Earnings Per Share

KRW

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
86.87
- -
4.94
- -
- -
2025
42.45
- -
-29
- -
-14
2026
- -
- -
22
- -
25.94

Quarterly Dividends Per Share

KRW

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
118.93
2026
- -
- -
- -
- -
139
Similar Companies
Realty Income Corporation (NYSE:O)
Emlak Konut Gayrimenkul Yatirim Ortakligi A.S. (BIST:EKGYO)
Wheeler Real Estate Investment Trust, Inc. (NASDAQ:WHLR)
AGNC Investment Corp. (NASDAQ:AGNC)
Prologis, Inc. (NYSE:PLD)
American Tower Corporation (REIT) (NYSE:AMT)
Business
ESR Kendall Square REIT Co., Ltd. ESR Kendall Square REIT Co., Ltd. (365550.KS) operates as South Korea's first pure-play logistics real estate investment trust (REIT), focusing on the ownership, development, management, and leasing of modern logistics facilities including cold storage warehouses, distribution centers, and logistics parks; its portfolio comprises 20 state-of-the-art assets with an aggregated fair market value of 2.98 trillion KRW, a 98% occupancy rate as of June 2025, and strategic locations near key transportation hubs in Gyeonggi-do, Chungcheongnam-do, and Gyeongsangnam-do regions such as Icheon Logistics Parks 2-9, Yongin Logistics Parks 1-3, Anseong Logistics Parks 1-4, Gimhae Logistics Parks 1-2, Pyeongtaek Logistics Park, Goyang Logistics Park, Cheonan Logistics Park 1, and Bucheon Cold Logistics Park. The company, incorporated in 2020 and headquartered at Three IFC, 10 Gukjegeumyung-ro 35th Floor, Yeongdeungpo-gu, Seoul, South Korea, serves a diversified tenant base dominated by e-commerce giants like Coupang (over 60% of contracted gross floor area) and third-party logistics providers (28%), generating stable rental income through long-term leases with a weighted average expiry of approximately 3.7 years and recent renewals achieving 18% average rent increases. Backed by major shareholders including CPP Investments (21.52%), ESR KendallSquare (3.84%), and ESR KendallSquare REIT Holding Pte. Ltd. (6.42%), it maintains a strong financial profile with long-term debt of 1.49 trillion KRW, a 50% loan-to-value ratio, an A- credit rating from Moody’s Korea (as of October 2024), and a dividend per share of 274 KRW based on FY2024 results. Recent developments include portfolio expansion to 20 assets through strategic acquisitions such as the Icheon Logistics Park adding to its 1.2 million square meter gross floor area, a December 2023 refinancing of approximately $373 million in senior loans at a sector-low 4.7% rate, and in May 2025, providing KRW 600 million in funding to affiliate ESR Kendall Square Asset No.3 REIT Co., Ltd. via a share placement while pursuing capital recycling through potential disposals of up to five assets amid market normalization.