IRS - IRSA Commercial Properties: High Dividend Real Estate Company With Premium Assets

March, 17 2021 03:46 PM IRSA Inversiones Y Representaciones S.A.

Pure-play Argentinian real estate company IRSA Commercial Properties is trading at a market cap of $325 million with an est. avg. dividend of $50 million a year (15% div. yield).
A quick NAV calculation shows the company is undervalued.
Net debt is at $260 million, only 1.9x LTM EBITDA vs. 5x avg. of its peers.
After paying a massive dividend of $110 million last year (40% div. yield), it still holds $85 million in cash plus a $60 million credit from its parent company.
Covid-19 and Argentinian unstable economy are the main concerns.

For further details see:

Company Name:	IRSA Inversiones Y Representaciones S.A.
Stock Symbol:	IRS
Market:	NYSE
Website:	irsa.com.ar