BRCR11 Stock Overview

A real estate investment trust co-launched by BTG Pactual Serviços Financeiros and BTG Pactual Gestora de Recursos Ltda. More details

BRCR11 fundamental analysis
Snowflake Score
Valuation	3/6
Future Growth	0/6
Past Performance	0/6
Financial Health	5/6
Dividends	2/6

Rewards

Trading at 45.3% below our estimate of its fair value

Risk Analysis

Earnings have declined by 18.6% per year over past 5 years

Dividend of 13.83% is not well covered by earnings or free cash flows

Profit margins (18.2%) are lower than last year (55.3%)

Large one-off items impacting financial results

My Notes

Capture your thoughts, links and company narrative

Fundo de Investimento Imobiliário - FII BTG Pactual Corporate Office Fund Competitors

Fundo de Investimento Imobiliário - FII Torre Norte

BOVESPA:TRNT11

R$480.1m

Fundo de Investimento Imobiliario - FII Edificio Galeria

BOVESPA:EDGA11

R$62.5m

JS Real Estate multigestão - FII fund

BOVESPA:JSRE11

R$1.2b

Cshg Logistica - Fundo De Investimento Imobiliario

BOVESPA:HGLG11

R$5.3b

Price History & Performance

Summary of share price highs, lows and changes for Fundo de Investimento Imobiliário - FII BTG Pactual Office Fund
Historical stock prices
Current Share Price	R$41.42
52 Week High	R$61.60
52 Week Low	R$38.50
Beta	0.32
1 Month Change	-6.40%
3 Month Change	-12.43%
1 Year Change	-29.82%
3 Year Change	-42.49%
5 Year Change	n/a
Change since IPO	-57.89%

Recent updates

Shareholder Returns

	BRCR11	BR Office REITs	BR Market
7D	4.9%	2.6%	-0.8%
1Y	-29.8%	-21.0%	-13.7%

Return vs Industry: BRCR11 underperformed the BR Office REITs industry which returned -20.6% over the past year.

Return vs Market: BRCR11 underperformed the BR Market which returned -13% over the past year.

Price Volatility

Is BRCR11's price volatile compared to industry and market?
BRCR11 volatility
BRCR11 Average Weekly Movement	2.6%
Office REITs Industry Average Movement	3.5%
Market Average Movement	5.0%
10% most volatile stocks in BR Market	9.6%
10% least volatile stocks in BR Market	2.9%

Stable Share Price: BRCR11 has not had significant price volatility in the past 3 months compared to the BR market.

Volatility Over Time: BRCR11's weekly volatility (3%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
2007	n/a	n/a	www.bcfund.com.br/bcfund/web/conteudo_en.asp?idioma=1&conta=44&tipo=47091

Fundo de Investimento Imobiliário - FII BTG Pactual Corporate Office Fund is a real estate investment trust co-launched by BTG Pactual Serviços Financeiros and BTG Pactual Gestora de Recursos Ltda. The fund is managed by BTG Pactual Serviços Financeiros. The fund invests in the real estate markets of Brazil.

Fundo de Investimento Imobiliário - FII BTG Pactual Corporate Office Fund Fundamentals Summary

How do Fundo de Investimento Imobiliário - FII BTG Pactual Office Fund's earnings and revenue compare to its market cap?
BRCR11 fundamental statistics
Market cap	R$1.10b
Earnings (TTM)	R$67.99m
Revenue (TTM)	R$373.94m

16.2x

P/E Ratio

3.0x

P/S Ratio

Is BRCR11 overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
BRCR11 income statement (TTM)
Revenue	R$373.94m
Cost of Revenue	R$117.35m
Gross Profit	R$256.59m
Other Expenses	R$188.60m
Earnings	R$67.99m

Last Reported Earnings

Sep 30, 2024

Next Earnings Date

n/a

Earnings per share (EPS)	2.55
Gross Margin	68.62%
Net Profit Margin	18.18%
Debt/Equity Ratio	4.7%

How did BRCR11 perform over the long term?

See historical performance and comparison

Dividends

13.8%

Current Dividend Yield

214%

Payout Ratio

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2024/12/25 16:15
End of Day Share Price	2024/12/23 00:00
Earnings	2024/09/30
Annual Earnings	2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Fundo de Investimento Imobiliário - FII BTG Pactual Corporate Office Fund is covered by 3 analysts. 0 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Edigimar Maximiliano	Bradesco S.A. Corretora de Títulos e Valores Mobiliários
Marcello Milman	BTG Pactual
Giovanni Vescovi	Itau BBA