VSLH11 joins TORD11 and XPRP11 among the cheapest FIIs, survey says;  rise ifix

VSLH11 joins TORD11 and XPRP11 among the cheapest FIIs, survey says; rise ifix

Real estate fund Versailles Recebíveis Imobiliários (VSLH11) has joined XP Properties (XPPR11) and Tordesilhas EI (TORD11) in its list of cheapest industrial investment firms, according to the August issue of Órama Investimentos’ “Quem Tá Cheap” report.

According to the broker, the survey aims to help investors better choose real estate funds among the large number of portfolios available in the market. There are currently over 430 FIIs listed in B3.

The study states, however, that the selection of a real estate fund also needs to take into account the quality of the assets, the expertise of the management team, and the portfolio’s perspective in the face of a macroeconomic scenario.

For example, Tordesilhas EI, which appears as a cheap FII, disclosed treasurer problems and canceled the dividend in August.

Scores in the “Quem Tá Cheap” rating take into account the rate of return with dividends (profit return) and the P/VPA (price on book value) of the fund. The study indicates that the higher the score, the better the relationship between the dividend paid by the portfolio and the publicly traded stock price.

In the cases of Versalhes Receivíveis Imobiliários, XP Properties and Tordesilhas EI, the results were close to or above 2. Check out the full list, divided by the six main types of real estate trusts:

corporate panels

background ribbon Dividend rate of return (profit return at 12 months) P/VPA NB
XP خصائص Characteristics XPPR11 12.67% 0.62 2.06
BTG PACTUAL OFFICE FUND BRCR11 9.81% 0.61 1.6
REC Real Estate Income RECT11 10.16% 0.65 1.56
Independent corporate buildings AIEC11 11.36% 0.77 1.47
green constellations GTWR11 11.46% 0.8 1.43

logistics

background ribbon Dividend rate of return (profit return at 12 months) P/VPA NB
Newport Logistics NEWL11 11.45% 0.75 1.52
BLUEMACAW LOGISTICS BLMG11 13.02% 0.88 1.49
VOTORANTIM LOGÍSTICA VTLT11 10.76% 0.89 1.21
Guardian logistics galg11 10.71% 0.93 1.15
Logistic home Battle 11 9.09% 0.8 1.14

Shopping Center

background ribbon Dividend rate of return (profit return at 12 months) P/VPA NB
HSI MALLS HSML11 8.35% 0.85 0.99
Shopping LEGATUS LASC11 6.90% 0.83 0.83
Shopping malls in Vinci VISC11 7.65% 0.93 0.82
Brazil Mall Complex Mall 11 7.66% 1 0.77
XP centers XPML11 7.62% 1.01 0.75

hybrid

background ribbon Dividend rate of return (profit return at 12 months) P/VPA NB
TORDESILLAS EI TORD11 13.42% 0.58 2.32
Risa Arctium Real Estate ARCT11 17.85% 1.03 1.73
Sander rental income SARE11 10.29% 0.78 1.33
Retail Income in Rio Bravo RBVA11 11.84% 0.95 1.25
Actual assets Tg TGAR11 12.73% 1.02 1.24

accounts receivable

background ribbon Dividend rate of return (profit return at 12 months) P/VPA NB
real estate receivables VSLH11 16.91% 0.85 1.99
whole brie ICR11 18.19% 0.95 1.91
URCA main income URPR11 20.04% 1.05 1.91
hectare m HCTR11 17.23% 0.91 1.89
Kenya Price Index KNIP11 17.77% 1 1.77

Fund of Funds (FoFs)

background ribbon Dividend rate of return (profit return at 12 months) P/VPA NB
More real estate FOF over 11 12.17% 0.83 1.46
Input BLUEMACAW + FOF BLMR11 11.70% 0.95 1.23
XP اختيار Selection XPSF11 11.18% 0.91 1.23
Magani Fov MGFF11 10.54% 0.87 1.21
Absolute plural Brazil BPFF11 11.04% 0.94 1.18

Source: Quem Tá Barato Report, by Órama Investimentos

Órama Investimentos considers that it uses past data to construct the rating, which is not a guarantee of future earnings. The broker’s monthly report only takes into account funds whose average daily liquidity is more than R$300,000.

Discover the step-by-step guide to living on income with FII and receiving your first rent in your account in the next few weeks, without having to own property, in a free semester.

ifix today

In Thursday’s session (18), IFIX – an index that aggregates the most actively traded real estate funds on B3 – is in the positive territory. At 10:46 am, the index registered a gain of 0.15% at 2,921 points. Check out today’s highlights:

Biggest Highs This Thursday (18):

ribbon Noun section Variance (%)
BTRA11 BTG Pactual Terras Agrícolas agricultural 1.81
RVBI11 VBI Reits Nicknames and Val. Home furniture 1.77
GGRC11 Income GGR Covepi logistics 1.46
XPPR11 XP خصائص Characteristics corporate panels 1.33
RECT11 REC . real estate income hybrid 1.17

The biggest victims of this Thursday (18):

ribbon Noun section Variance (%)
RCRB11 Rio Bravo Inc corporate panels -2.05
VCJR11 The real interest of Vectis Nicknames and Val. Home furniture -1.13
PVBI11 VBI Prime خصائص Features corporate panels -0.95
BLMG11 Bluemacaw Logistics logistics -0.92
XPIN11 Industrial XP logistics -0.77

Source: B3

The property value of FII CJCT11 is 25%; XPIN11 wallet revaluation points are declining

Colliers International do Brasil, a real estate advisory firm, has completed a revaluation of the FII Cidade Jardim Continental Tower property and indicated a 25.24% increase in the fair value of the acreage located in São Paulo (SP).

The project with the same name of the fund has a total leasable area of ​​24,700 square meters, and is part of the Parque Cidade Jardim complex, which also includes a shopping center and nine residential towers. The building’s current vacancy rate is 44%, according to a management report.

Also, according to Colliers International, the property revaluation increases the equity value of the FII Cidade Jardim Continental Tower stake by 24.88%.

In the case of XP Industrial (XPIN11), the company indicated a 0.60% decrease in the fair value of the fund’s portfolio, which includes seven combined logistics units amounting to a GLA of 294 thousand square meters.

Today’s earnings

Check out the eight funds that are distributing income this Thursday (18):

ribbon background performance
MGCR11 Mahogany CRI 1.35 Brazilian Real
GCRI11 Galapagos CRI 1.25 Brazilian Real
GCRI13 Galapagos CRI 1.25 Brazilian Real
GCRI14 Galapagos CRI 1.25 Brazilian Real
NAVT11 Ship Imob FoF 0.85 Brazilian Real
GCFF11 Galapagos QQ 0.76 Brazilian Real
[ativo=AURB11] Urban Alliance 0.74 Brazilian Real
over 11 more kindly 0.65 Brazilian Real
BLCP11 Bluecap record 0.52 Brazilian Real
APT11 Residential ship 0.12 Brazilian Real

Source: InfoMoney. Pointers with an ending other than 11 indicate receipts and subscription rights to funds.

Giro Immobiliario: Shopping center sales grew 38% in the second quarter; “Brick” FIIs accumulated an average of 6% in August and the signal recovered

‘Brick’ Rally FIIs? Funds accumulated an average of 6% in August indicating a recovery

“Brick” real estate funds – which invest directly in real estate – have been hardest hit in recent years by the restrictions imposed by the Covid-19 pandemic. However, in August, the long-awaited appeal of these industrial investment firms began to show signs, with portfolios posting an average rating of 6%. The RBR Properties Fund alone (RBRP11), which invests in warehouse logistics and corporate panels, is up nearly 27%.

The topic was a highlight in this Tuesday (16) issue of FIIs . Universitywhich features a presentation from Maria Fernanda Violati, an analyst at XP, Thiago Otoki, an economist at Clube FII, and Wellington Carvalho, a reporter at Infomoney. Also participating in the program was Felipe Sangalli, Director of Investor Relations at Bresco Logística (BRCO11).

In Maria Fernanda’s assessment, a combination of factors explain the recent estimate of the “brick” FIIs, which spans from the contraction in July to the end of the cycle of rises in the national economy’s base interest rate to Selic.

Last month, the Broad Consumer Price Index (IPCA) was negative 0.68%, while a portion of the market already considers Selic – currently at 13.75% per year – to have reached the top or should have an increase left at the next meeting of the Committee Central Bank Monetary Policy (COBOM), in September.

“Given the scenario, investors’ perception may be that it is time to start focusing more on ‘built-in’ funds, which are heavily discounted,” says Maria Fernanda.

With less movement of people during the pandemic, some FIIs – such as those in shopping malls and offices – have cut revenue and have seen their shares lose value on the stock exchange. The migration of investors from variable income to fixed income – which is more profitable with the rise in Selic – also helped drag stocks down.

According to a weekly report by Itaú BBA, corporate slate FIIs are trading, on average, for 74% of book value. Shopping malls and office funds also trade between 91% and 93% of fair value, as indicated by the survey’s average P/VPA (price on book value).

Sales in malls grew 38% in the second quarter; The flow of people increased 59%.

Malls saw a 38.2% increase in sales in the second quarter of this year, compared to the same period in 2021 (the peak of the second wave of Covid-19). Compared to 2019 (pre-pandemic period), sales grew by 4.3%.

The data was released on Wednesday (17) by the Brazilian Association of Shopping Centers (Abrasce) based on surveys of the Cielo Index of Shopping Centers Retail (ICVS).

The increase in sales was driven by the return of the public to shopping centers, where the increase in the flow of people was greater (58.7% compared to the second quarter of 2021).

Brazilians spent an average of R$126.27 on products and services in malls between April and June of this year, roughly the same amount as in the first quarter (R$126.09), between January and March.

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