2023-03-27 00:05:29 ET
Summary
- The company focuses on investing in office properties in France, Germany, and Spain, and it had a book value per unit of C$9.58 ($7.00) as of September.
- There are some issues with vacancy rates, and I expect the dividend to be cut in the near future, but Inovalis is in a good position for a challenging 2023.
- In my view, the small size of Inovalis makes it nimble and the company is currently trying to sell three buildings with a fair value of C$182.7 million ($133.5 million).
- If Inovalis manages to find buyers above fair value, I expect this to enable it to significantly strengthen its balance sheet.
For further details see:
Inovalis: Small Office REIT With A Double-Digit Dividend Yield