TOKYO - SYLA Technologies Co., Ltd. (NASDAQ: SYT), a leading Japanese firm in real estate crowdfunding, has released its second-quarter investor update for 2024, showcasing expansion in its operations and membership growth.
The company, known for its Rimawari-kun platform, reported an increase in its real estate portfolio with the sale of SYFORME SUMIYOSHI II and the completion of the SYLA TOYOCHO office building.
SYLA Technologies was recognized with the Excellent Business Award for its SYFORME MOTOMACHI-CHUKAGAI project, which aligns with the net Zero Energy House Mansion (ZEH-M) standards. Additionally, the company has embarked on a joint real estate venture with CUMICA and has seen its AI rental brokerage service, ietty, surpass 400,000 members.
The investor update highlighted key metrics, indicating an uptick in managed buildings to 78, an increase in managed units to 3,420, and a slight improvement in occupancy rates to 99.8%. In terms of crowdfunding, Rimawari-kun commenced fundraising for seven new projects and originated ten projects during the quarter. The platform's membership saw a modest rise to 279,838, while its gross merchandise value (GMV) grew from 6,844 million JPY to 7,594 million JPY.
SYLA Technologies operates the largest membership-based real estate crowdfunding platform in Japan, targeting a diverse investor base. The company's mission is to make real estate investment more accessible globally through its technology and asset management services.
This news article is based on a press release statement from SYLA Technologies Co., Ltd.
InvestingPro Insights
As SYLA Technologies Co., Ltd. (NASDAQ: SYT) continues to evolve and expand its real estate crowdfunding initiatives, the company's financial health remains a focal point for investors. SYT's market capitalization stands at a modest 79.27 million USD, reflecting the scale of the company within the industry. With a Price/Earnings (P/E) ratio of 20.57, which adjusts to a slightly lower 18.96 for the last twelve months as of Q4 2023, the company shows a balance between its share price and earnings performance.
One standout metric for SYLA Technologies is its Price/Earnings to Growth (PEG) ratio, which at 0.3 indicates a potentially undervalued stock if one considers the company's earnings growth prospects. The PEG ratio, in combination with a Price to Book (P/B) ratio of 1.5, could suggest that the company's stock is reasonably valued in relation to its assets and growth trajectory.
The company's revenue has seen a growth of 3.12% in the last twelve months as of Q4 2023, reaching 161.32 million USD. However, the quarterly revenue growth observed a slight decline of -3.74% in Q4 2023. This juxtaposition of annual and quarterly figures may be indicative of the cyclical nature of real estate and investment markets, or specific strategic moves by the company, such as the sale of properties or the timing of new project launches.
InvestingPro Tips indicate that investors should consider the company's strong EBITDA growth of 60.33% in the last twelve months as of Q4 2023, which suggests a robust operational performance. Additionally, SYT's gross profit margin stands at a healthy 24.35%, reflecting efficient management of costs relative to revenue. For investors looking for deeper insights and more InvestingPro Tips, there are 15 additional tips available on InvestingPro, which can be accessed with a yearly Pro or a biyearly Pro+ subscription using the coupon code PRONEWS24 for up to 10% off.
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