The real estate fund of the Autonomy Edifícios Corporativos office sector (AIEC11) will close the first month of 2023 with the maximum dividend yield (rate of return with dividends) among the main FIIs on the stock exchange. The percentage was 1.94%.
The data comes from Economatica, a financial information platform, and is based on the 111 real estate funds that make up the Ifix, an index that brings together the most liquid FIIs on B3.
All portfolios have already announced their planned dividend payouts for this month. The latest was BTG Pactual Terras Agrícolas (BTRA11), which on the 31st will pay BRL 0.87 per share.
Of the funds monitored, 48 had them in January dividend yield more than 1% in the month. The number is higher than the 38 registered in December.
At the beginning of the month, Autonomy Edifícios Corporativos (AIEC11) distributed R$ 1.32 per share, equivalent to a monthly yield of 1.94%. The percentage is the highest of the month, according to data from Economics.
Check out the list of January’s top ten payers:
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|ticking||Background||Sector||Dividend Yield – January (%)*|
|AIEC11||Autonomy Buildings||Company slabs||1.94|
|HGRU11||CSHG urban income||Urban income||1.66|
|RZAK11||Riza Akin||Securities and Val. Assault.||1.45|
|CACR11||Cartesia Immobiliare Credits||Securities and Val. Assault.||1.44|
|ARRI11||Atrium Reit Credits||Securities and Val. Assault.||1.42|
|HGLG11||CSHG Logistics||the logistics||1.36|
|HABT11||Habitats II||Securities and Val. Assault.||1.32|
|MCCI11||Capital Maua||Securities and Val. Assault.||1.31|
|OUJP11||Ourinvest JPP||Securities and Val. Assault.||1.28|
|CVBI11||VBICRI||Securities and Val. Assault.||1.27|
Riza Akin (RZAK11), who was the highlight of December’s high-payer list, deposited R$1.40 per share this month, equivalent to a monthly dividend yield of 1.45% – versus 1 .54% last month. The fund remains at the top of the highest-paying list over the past 12 months (see below).
The Brazilian Graveyard And Death Care (CARE11) remains the only Ifix FII that has not distributed any dividends. The first fund in the cemetery segment, the portfolio did not pay any income for five years, until July 2020, after the sale of one of the assets in the portfolio. The last wallet transfer took place in September 2021.
Extraordinary income marks the month of January
In January, according to a study, 40 real estate funds paid more dividends than the amount transferred in the previous month Money info also based on the FII 111 Ifix. The returns refer to operations in December, the month traditionally characterized by an increase in transfers of funds to members.
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.
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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.
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.
Autonomy Corporate Buildings, the largest dividend yield of January between the FII
On December 29, 2022, Autonomy Edifícios Corporativos announced that it would pay R$ 1.32 per share to more than 11,000 investors this month, higher than the R$ 0.75 level observed in recent months – as shown on the page from below in Money info.
The increase, explains the fund, is also the result of non-recurring income. According to the management, the increase is due to the advance payment of the rent of the Rochaverá Torre D property, in São Paulo (SP).
More than the extraordinary dividend paid this month, AIEC11 signals that the forthcoming transfer will be adjusted with the anticipation of last month’s revenues.
“Importantly, this month’s distribution [referente às receitas de dezembro] anticipated portion of January revenue, which will impact accordingly [reduzirá] the distribution of the February dividend [e referente às receitas de janeiro]”, explains the management report of the fund.
The portfolio portfolio includes two properties located in São Paulo and Rio de Janeiro (RJ). Together, the buildings achieve a gross leasable area (GLA) of nearly 23,000 square feet. The availability of places is reset.
In 12 months, the dividend yield of Autonomy for Corporate Buildings is 12.53%.
FIIs that have paid most dividends in the last 12 months
Over the past 12 months, Riza Akin (RZAK11) continues to own the best dividend yield among the Ifix real estate funds. Over the period, the portfolio boasts a dividend yield of 19.02%. Next, appear NCH High Yield (NCHB11) and Ourinvest JPP (OUJP11), the most profitable fund in 2022, with rates of 16.79% and 16.70% respectively. Check out the full list:
|ticking||Background||Sector||Dividend yield – 12 months (%)*|
|RZAK11||Riza Akin||Securities and Val. Assault.||19.02|
|NCHB11||NCH high yield||Securities and Val. Assault.||16.79|
|OUJP11||Ourinvest JPP||Securities and Val. Assault.||16.70|
|CACR11||Cartesia Immobiliare Credits||Securities and Val. Assault.||16.52|
|RBHG11||Rio Bravo Real Estate Credit||Securities and Val. Assault.||15.88|
|ARRI11||Atrium Reit Credits||Securities and Val. Assault.||15.50|
|MORC11||More real estate loans||Securities and Val. Assault.||15.50|
|PORD11||Credit hub||Securities and Val. Assault.||15.48|
|URPR11||Urca First Income||Securities and Val. Assault.||04.15|
|VGIR11||RE value||Securities and Val. Assault.||14.91|
Source: Economics – 24/01/2023
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With assets of R$446 million, Riza Akin (RZAK11) invests mainly in Real Estate Credit Certificates (CRI), which currently represent 74.2% of the portfolio.
Currently, 59% of stocks are indexed to the interbank certificate of deposit (CDI) rate and 38.7% to the Extended Consumer Price Index, the HICP, according to the fund’s management report released last week.
In the management report, Riza Akin’s management team expresses a positive view of a higher allocation to bonds indexed to the CDI rate, which tracks the economy’s base interest rate, the Selic, currently at 13.75%.
In January, the fund deposited BRL 1.40 per share, equal to a monthly yield of 1.45%, lower only than that presented by Autonomy Edifícios Corporativos (AIEC11) and CSHG Renda Urbana (HGRU11).
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