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J.P. Morgan Real Estate Income Trust cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$17.7M in Q3 2026 · $56.4M over twelve months

Operating cash flow$17.7M
Free cash flow+$17.7M
Cash / net income61.9×

Analysis

In Q3 2026, J.P. Morgan Real Estate Income Trust generated $17.7M of operating cash flow. That is $4.1M more than in Q3 2025 ($13.6M).

Over the twelve months to Sep 30, 2026, operating cash flow was $56.4M; the largest uses were other investing ($720M), dividends ($18.5M), buybacks ($15.2M); besides operations, cash came from other financing ($421M), shares issued ($285M); the cash balance rose by $9.3M.

Operating cash flow was $17.7M against net income of $286K — 61.9× profit, cash ran ahead of reported earnings. The largest differences: depreciation & amortization +$16.6M, payables +$2.8M, prepaid and other assets −$404K.

Free cash flow

J.P. Morgan Real Estate Income Trust: free cash flow by quarterJ.P. Morgan Real Estate Income Trust: free cash flow by quarter$1.6MQ4 2024$5.5MQ1 2025$8.9MQ2 2025$13.6MQ3 2025$11.0MQ4 2025$11.7MQ1 2026$15.9MQ2 2026$17.7MQ3 2026
Operating cash flow less capital spending.
J.P. Morgan Real Estate Income Trust: operating cash flow against capital spendingJ.P. Morgan Real Estate Income Trust: operating cash flow against capital spendingOperating cash flowCapital spending$1.6M$0Q4 2024$5.5M$0Q1 2025$8.9M$0Q2 2025$13.6M$0Q3 2025$11.0M$0Q4 2025$11.7M$0Q1 2026$15.9M$0Q2 2026$17.7M$0Q3 2026
Latest (Q3 2026): Operating cash flow $17.7M, Capital spending $0.

Capital allocation, year by year

J.P. Morgan Real Estate Income Trust: where the cash came from (up) and went (down), by fiscal yearJ.P. Morgan Real Estate Income Trust: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedBuybacksDividendsFY2022: Operating cash flow $1.1MFY2022: Net borrowing $41.7MFY2022: Shares issued $24.0M$66.8MFY2022FY2023: Operating cash flow $2.4MFY2023: Net borrowing −$492KFY2023: Shares issued $104MFY2023: Buybacks −$370KFY2023: Dividends −$2.5M$107MFY2023FY2024: Operating cash flow $6.0MFY2024: Shares issued $208MFY2024: Buybacks −$1.9MFY2024: Dividends −$4.9M$214MFY2024FY2025: Operating cash flow $39.0MFY2025: Shares issued $514MFY2025: Buybacks −$9.3MFY2025: Dividends −$14.1M$553MFY2025
Over these 4 years operating cash flow totalled $48.5M; the largest uses were dividends ($21.6M) and buybacks ($11.5M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$24.6M
Debt$947M
Net debt$922M

J.P. Morgan Real Estate Income Trust funds itself: free cash flow was $56.4M over the last twelve months, and $24.6M of cash and investments stands against $947M of debt.

Where the cash came from and went

J.P. Morgan Real Estate Income Trust: sources (+) and uses (−) of cash, Q3 2026J.P. Morgan Real Estate Income Trust: sources (+) and uses (−) of cash, Q3 2026Other investing−$322MOther financing$293MShares issued$18.4MOperating cash flow$17.7MBuybacks−$5.5MDividends−$5.0MCash drawn (+) / kept (−)$2.8MPartners$252K
J.P. Morgan Real Estate Income Trust: sources (+) and uses (−) of cash, TTM to Q3 2026J.P. Morgan Real Estate Income Trust: sources (+) and uses (−) of cash, TTM to Q3 2026Other investing−$720MOther financing$421MShares issued$285MOperating cash flow$56.4MDividends−$18.5MBuybacks−$15.2MCash drawn (+) / kept (−)−$9.3MPartners−$4K

From profit to cash

J.P. Morgan Real Estate Income Trust: net income to operating cash flow, Q3 2026J.P. Morgan Real Estate Income Trust: net income to operating cash flow, Q3 2026Net income$286KDepreciation & amortization$16.6MPayables$2.8MPrepaid and other assets−$404KOperating cash flow$17.7M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowBuybacksDividendsShares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$17.7M−$5.5M−$5.0M$18.4M$2.8M$17.7M
Q2 2026$15.9M−$2.1M−$4.8M$166M−$14.7M$15.9M
Q1 2026$11.7M−$5.7M−$4.5M$46.2M$3.1M$11.7M
Q4 2025$11.0M−$1.9M−$4.1M$54.2M−$580K$11.0M
Q3 2025$13.6M−$4.3M−$3.8M$54.3M$47.6M$13.6M
Q2 2025$8.9M−$1.3M−$3.6M$108M$241M$8.9M
Q1 2025$5.5M−$1.7M−$2.6M$298M−$183M$5.5M
Q4 2024$1.6M−$1.4M−$1.4M$134M−$98.3M$1.6M

J.P. Morgan Real Estate Income Trust: income statement and cash flow

J.P. Morgan Real Estate Income Trust, Q3 2026: revenue $35.9M (+59% year over year), operating margin 76.7%. The chart follows the revenue to costs, profit and cash.

J.P. Morgan Real Estate Income Trust: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.