Investors of 40 FIIs will get extra dividends in January; check the list and who is eligible for income

study of Money info points out that 40 real estate funds will pay more dividends in January 2023 than the amount transferred in the previous month. The survey is based only on the 111 FIIs that make up the Ifix – index of the most traded real estate funds on B3.

The returns refer to operations in the month of December, the month traditionally characterized by an increase in the transfers of funds to shareholders. Only investors with a position at the end of 2022 will be eligible for this month’s dividends.

The justifications for the increase in dividends can be diverse and range from the transfer of the readjustment in leasing contracts to the operational seasonality of portfolios. Mall funds, for example, receive a portion of store sales and as a result end up increasing revenues during peak consumption periods, such as at the end of the year.

But the main factor for the jump in dividends in December is the passing on of accumulated earnings that until then had not been distributed. By law, a real estate fund is obliged to pay at least 95% of the profit earned to its shareholders every six months – even if most portfolios opt for the partial transfer of this profit each month. The fee withheld during the period is normally paid exactly at the end of each semester.

This is the case of CSHG Renda Urbana (HGRU11) which, after having sold a series of properties in recent months, has distributed the capital gain realized under management. On the following 13th, the fund will pay R$ 2 per share, an amount R$ 1.18 higher than that paid by the fund. In percentage terms, the highlight was REC Logística (RELG11), which presented a 179% increase in returns announced between November and December – and paid in the following months. Check out the full list.

ticking Background Segment December Dividend (BRL) November Dividend (BRL) Difference (BRL) Difference (%)
HGRU11 CSHG urban income Urban income BRL 2.00 BRL 0.82 BRL 1.18 144%
HGLG11 CSHG Logistics the logistics BRL 2.20 BRL 1.10 BRL 1.10 100%
SNFF11 Suno FoF FoF BRL 1.30 BRL 0.65 BRL 0.65 100%
VCJR11 Vectis of real interest Securities and Val. Assault. BRL 1.00 BRL 0.43 BRL 0.57 133%
AIEC11 Autonomy Buildings Company slabs BRL 1.32 BRL 0.75 BRL 0.57 76%
RELG11 REC Logistics the logistics BRL 0.80 BRL 0.29 BRL 0.51 179%
KNIP11 Kinea IP Securities and Val. Assault. BRL 0.94 BRL 0.50 BRL 0.44 88%
TRXF11 TRX real estate Urban income BRL 1.20 BRL 0.85 BRL 0.35 41%
MUST11 devant Securities and Val. Assault. BRL 0.90 BRL 0.56 BRL 0.34 61%
HGRE11 CSHG Real Estate Company slabs BRL 1.10 BRL 0.78 BRL 0.32 41%
RECR11 REC Credits Securities and Val. Assault. BRL 0.74 BRL 0.44 BRL 0.29 66%
HABT11 Habitats II Securities and Val. Assault. BRL 1.17 BRL 0.92 BRL 0.25 27%
HSAF11 HSI financial assets Securities and Val. Assault. BRL 0.80 BRL 0.60 BRL 0.20 33%
KNSC11 Kinea Titles Securities and Val. Assault. BRL 0.94 BRL 0.75 BRL 0.19 25%
XPCI11 XP Real Estate Credit Securities and Val. Assault. BRL 0.72 BRL 0.60 BRL 0.12 20%
RZAK11 Riza Akin Securities and Val. Assault. BRL 1.50 BRL 1.40 BRL 0.10 7%
KNCR11 Real estate income Kinea Securities and Val. Assault. BRL 1.20 BRL 1.10 BRL 0.10 9%
URPR11 Urca First Income Securities and Val. Assault. BRL 1.21 BRL 1.11 BRL 0.10 9%
CVBI11 VBICRI Securities and Val. Assault. BRL 0.75 BRL 0.66 BRL 0.09 14%
VISC11 shopping malls win shopping centers BRL 0.85 BRL 0.76 BRL 0.09 12%
KNR11 Kinea Renda Imobiliária Hybrid BRL 1.00 BRL 0.91 BRL 0.09 10%
HOFC11 Cover office income Company slabs BRL 0.07 R$ – BRL 0.07 *
GTWR11 green towers Company slabs BRL 0.79 BRL 0.74 BRL 0.05 7%
OUJP11 Ourinvest JPP Securities and Val. Assault. BRL 1.25 BRL 1.20 BRL 0.05 4%
CACR11 Cartesia Immobiliare Credits Securities and Val. Assault. BRL 1.47 BRL 1.42 BRL 0.05 4%
KNHY11 Kinea HY Securities and Val. Assault. BRL 0.95 BRL 0.90 BRL 0.05 6%
BCRI11 Baneste Securities and Val. Assault. BRL 1.04 BRL 1.00 BRL 0.04 4%
BRCR11 BC fund Hybrid BRL 0.50 BRL 0.47 BRL 0.03 6%
XPML11 XP Malls shopping centers BRL 0.77 BRL 0.75 BRL 0.02 3%
MXRF11 maxi lace Hybrid BRL 0.10 BRL 0.08 BRL 0.02 25%
WHGR11 WHG real estate Hybrid BRL 0.09 BRL 0.07 BRL 0.02 29%
HSML11 HSI SHOPPING CENTER shopping centers BRL 0.70 BRL 0.68 BRL 0.02 3%
KISU11 KILIMA Securities and Val. Assault. BRL 0.09 BRL 0.08 BRL 0.02 20%
NSLU11 Our Lady of Lourdes Hospital Hospital BRL 1.51 BRL 1.50 BRL 0.01 1%
TEPP11 Tellus property Company slabs BRL 0.51 BRL 0.50 BRL 0.01 Two%
XPIN11 Industrial XP the logistics BRL 0.65 BRL 0.64 BRL 0.01 Two%
PORD11 Credit hub Securities and Val. Assault. BRL 0.91 BRL 0.90 BRL 0.01 1%
AFHI11 AF Invest Cri Securities and Val. Assault. BRL 0.96 BRL 0.95 BRL 0.01 1%
MFI11 development merit Development BRL 1.12 BRL 1.11 BRL 0.01 1%
TORD11 Tordesilla EI Development BRL 0.08 BRL 0.07 BRL 0.01 14%

Source: CVM


FII Hedge Office Income did not distribute or announce dividends in November.

The managers reiterate that the increase in dividends at the turn of the semester is extraordinary, ie after the period the transferred proceeds tend to return to the levels observed in the previous months.

Read also:

ifix today

In this Wednesday’s session (4), the Ifix closed down by 0.29%, at 2,846 points. Discover the other highlights of the day:

Highest highs this Wednesday (4): ticking First name Sector
Change (%) XPCI11 XP Real Estate Credit Securities and Val. Assault.
2.8 VIUR11 Win Urban Real Estate Urban income
2.12 CVBI11 VBICRI Securities and Val. Assault.
1.86 TORD11 Tordesilla EI Development
1.86 NSLU11 Our Lady of Lourdes Hospital Hospital


Major casualties this Wednesday (4): ticking First name Sector
Change (%) BRCR11 BC fund Hybrid
-3.85 BTLG11 BTG Pactual Logistics the logistics
-3.72 MORC11 More real estate loans Securities and Val. Assault.
-3.06 SNFF11 Suno FoF FoF
-3.04 HSAF11 HSI financial assets Securities and Val. Assault.


Source: B3

VCRR11 properties have a high fair value; HBCR11 new offer

Discover the latest information released by real estate funds in relevant facts

VCRR11 properties have a fair value increased by 7.8%

A report by Colliers International do Brasil, a real estate consultancy, indicates a 7.8% increase in the fair value of Vectis Renda Residencial properties.

The revaluation represents a 6.9% increase in the fund’s net assets, considering the value of the portfolio share traded at the end of 2022.

Currently, the VCRR11 portfolio consists of four properties which, together, achieve a gross leasable area (GLA) of 12,171 square metres.

All spaces are located in the city of São Paulo and are under construction. The delivery deadline, according to the fund’s latest management report, varies between the first and second half of 2023.

HBCR11 wants to raise nearly BRL 63 million in a new offering

FII HBC Renda Urbana has approved the fund’s second unit issue, which intends to raise BRL 62.9 million, reports a material fact disclosed by the portfolio.

According to the press release, the unit value for the subscription of new shares has been set at R$ 104.90. There will be no distribution fee.

At the opening of the session this Wednesday (4), HBCR11 shares were trading at R $ 115. The share value of the fund – a sort of fair value – is R $ 105.15 per share.

The FII HBC Renda Urbana press release does not mention pre-emption rights for the current shareholders of the fund.

Focused on commercial real estate investments, the portfolio currently has a net worth of R$80 million.


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