In line with the market, Ifix ends the session with a drop of 0.21%; FII BTRA11 drops 3%

The IFIX – an index that gathers the most traded real estate funds on B3 – closed this Thursday’s session (22) with a drop of 0.21%, at 2,802 points. Yesterday, the indicator closed down 0.17%. With a drop of 3.1%, the FII BTG Pactual Terras Agrícolas (BTRA11) was once again the highlight of the trading session.

In a statement released this Thursday afternoon (23), the fund considered the market’s reaction to the request for judicial reorganization of the Vianmancel farm, in Nova Maringá (MT) to be exaggerated and, among the solutions for the case, it does not rule out the sale of the ground. Fund shares dropped another 6% today. In the previous session, the shares plummeted 16%.

The fall in the price of the fund began after the disclosure of a material fact, on the afternoon of this Wednesday (22), which confirmed the situation of those responsible for the farm, acquired in August 2021 by the portfolio, in an operation sale-leaseback – who rents the purchased property to the former owner. The land currently represents 23% of the fund’s contracted revenue.

In view of the difficulty presented by the lessee, who will have to pay debts with creditors, the fund estimates a temporary reduction in the distribution of dividends of around R$ 0.22 per share, if the producer does not honor the payments related to the lease of the space .

“It is difficult to say how long this temporary situation will be resolved, but we see that management should work more on the front of a commercial solution than in a legal dispute”, explains the statement.

If the default is confirmed, the fund works with two options: the replacement of the current tenant or even the sale of the land. Check out the other highlights of the day.

Biggest highs of this Thursday (23)

ticker Name Sector Variation (%)
CARE11 Brazilian Graveyard and Death Care Others 2.75
HSAF11 HSI Financial Assets Titles and Val. furniture 1.13
RCRB11 Rio Bravo Corporate Income Corporate Slabs 0.92
SARE11 Santander Income Hybrid 0.78
HGRE11 CSHG Real Estate Corporate Slabs 0.75

Biggest casualties of this Thursday (23):

ticker Name Sector Variation (%)
BTRA11 BTG Pactual Terras Agrícolas agro -3.1
BTAL11 BTG Pactual Agro Others -2.29
SNFF11 Suno FoF Others -1.74
OUJP11 Ourinvest JPP Titles and Val. furniture -1.39
RBRY11 FII RBR PCRI Titles and Val. furniture -1.29

Source: B3

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

HSI Malls buys Uberaba mall; Urca Prime Renda reaches R$ 1 billion in management

Check the latest information released by real estate funds in relevant facts:

FII HSI Malls (HSML11) confirms purchase of Uberaba mall for BRL 330 million

The FII HSI Malls confirmed, this Wednesday (22), the purchase of shares in the companies Jaguara Empreendimentos Imobiliários and JPL Parkings, which own 100% of Shopping Uberaba, located in the city of Uberaba, in Minas Gerais.

Without revealing the name of the complex, the fund had signed, in May, a commitment to acquire the total space of 25 thousand square meters of gross leasable area (GLA). The portfolio will pay R$333 million for the shopping center, which opened in 1999.

With 188 stores, the mall has 1,190 parking spaces and is located on Avenida Santa Beatriz da Silva, in the neighborhood of São Benedito, a place with a large flow of vehicles and pedestrians, according to a statement from the FII to the market.

With the operation, the owned GLA of HSI Malls will increase from 166 thousand to 191 thousand square meters and the fund will have a controlling position in seven malls. Check the portfolio portfolio before the acquisition of Uberaba.

Source: FII HSML11

In 12 months, HSI Malls’ dividend rate of return is 8.2%. In June, the fund deposited BRL 0.62 per share, equivalent to a gain of 0.77% in the month.

Specialists have seen the movement of acquisitions and mergers in the shopping mall segment as a sign of the resumption of the segment, greatly affected by the restrictions imposed by the Covid-19 pandemic in the last two years.

Biggest dividend payer in 2021, FII URPR11 reaches R$ 1 billion in management

The Urca Prime Renda fund (URPR11) ended this month raising the fund’s sixth issue of quotas and surpassed the R$ 1 billion mark in management.

According to Urca Capital Partners, the fund’s manager, the offer concluded this month raised a total of R$444 million, in an operation restricted only to the fund’s shareholders.

With almost two years of operation, Urca Prime Renda has already distributed R$ 42.98 dividends per share and obtained average daily liquidity of R$ 4.4 million on B3.

Also according to the fund, the total profitability of the portfolio – considering the appreciation of the share and the distribution of dividends – reaches 55.32%.

The fund was the largest dividend payer in 2021 and is currently among the top five that most distribute income, considering the most liquid FIIs on the market.

today’s dividends

Check out which are the five real estate funds that distribute income this Thursday (23):

ticker Background Performance
ELDO11B Eldorado BRL 6.29
RBRX11 RBR Plus Multi BRL 2.10
SIGR18 SIG Capital Receivables BRL 1.56
SIGR17 SIG Capital Receivables BRL 1.56
SIGR16 SIG Capital Receivables BRL 1.56
SIGR15 SIG Capital Receivables BRL 1.56
SIGR13 SIG Capital Receivables BRL 1.56
SIGR14 SIG Capital Receivables BRL 1.56
MATV11 More Active Management BRL 1.40
MCHY11 Mauá High Yield BRL 1.40
MCHY13 Mauá High Yield BRL 1.40
MCHY14 Mauá High Yield BRL 1.40

Source: InfoMoney

Note: Tickers with an ending other than 11 refer to receipts and subscription rights for the funds.

Giro Imobiliário: mall sales grow 81% in April; 5 tips to reduce the risks of CRI FIIs

Sales in shopping centers grew 81.5% in April, points out Abrasce

The shopping center sector registered the 13th consecutive monthly increase, reaching an increase of 81.5% in sales in April, compared to the same month last year, according to the balance of the Brazilian Shopping Centers Association (Abrasce), based on survey of the Cielo Retail Index in Shopping Centers (ICVS-Abrasce). In real terms, when discounting inflation, growth was 61.8%. In the first four months of 2022 alone, malls’ trade accumulates a recovery of 45.1% compared to the first four months of 2021.

From a regional point of view, the Southeast stood out in the month by growing above the national average with an increase of 114.1% in sales. In the period, all other regions also had growth: Central-West (71.2%), Northeast (68.3%), South (49.6%) and North (43.5%).

mpacted by the macroeconomic scenario, especially by inflation, the average ticket for April in mall stores closed at R$124.46, which represents a reduction of 12.24% when compared to R$140.22 in the same month of 2021 .

Abrasce president Glauco Humai says growth should continue in the coming months, but at a slightly slower pace, as rates will now be compared with a higher base period, recorded in 2021, when ventures resumed operation.

Is “paper” FII safe? Expert gives five tips to understand and reduce investment risks

Famous for the high dividends they distribute, CRI FIIs (certificates of real estate receivables) embody a risk often ignored by investors. A quick reading of the funds’ management reports, however, can increase the security of the shareholder and provide an easy understanding of the portfolio’s operations.

The theme was featured in this Tuesday’s edition (21) of League of FIIswhich has a presentation by Maria Fernanda Violatti, analyst at XP, Thiago Otuki, economist at Clube FII, and Wellington Carvalho, reporter at InfoMoney. The program also had the participation of Evandro Buccini, partner and director of Credit, Fixed Income and Multimarket at Rio Bravo Investimentos, who spoke about a recent problem in a CRI in the portfolio of two funds of the manager.

CRI is a debt security used by companies in the real estate sector to raise funds in the market. In practice, companies “pack” future income they have to receive – such as rents or installments for the sale of apartments, for example – in a security (the CRI) sold to investors. In general, the paper includes a fixed yield and the correction by an indicator, which is usually the CDI rate or the IPCA.

In the case of the Rio Bravo funds – Rio Bravo Crédito Imobiliário High Yield (RBHY11) and Rio Bravo Crédito Imobiliário High Grade (RBHG11) – the debt installments referring to the months of January and February of CRI New Village were not paid, which motivated the anticipation of maturity and, consequently, the execution of the security’s guarantees.

Faced with the repercussion, Felipe Ribeiro, director of alternative investments at Clube FII, who also participated in the League of FIIshighlighted five pieces of information that the quotaholder of receivables funds can seek in management reports to understand and even reduce the risks of the investment portfolio.

“The small investor, who seeks more information about the fund, does not have easy access to the portfolio managers and the management report is the only tool that provides details of the operation”, says Ribeiro. “If the manager does not participate in lives and the fund does not have a management report, do not invest in the portfolio”, defends the specialist, who is also the author of the book Definitive Guide to Understanding CRI FII.

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