Inovalis Real Estate Investment Trust is an unincorporated, open-ended real estate investment trust established pursuant to a declaration of trust under the laws of the Province of Ontario.
+ 1 more risk
Undervalued average dividend payer.
Share Price & News
How has Inovalis Real Estate Investment Trust's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: INO.UN's share price has been volatile over the past 3 months.
7 Day Return
1 Year Return
Return vs Industry: INO.UN underperformed the Canadian REITs industry which returned -26.8% over the past year.
Return vs Market: INO.UN underperformed the Canadian Market which returned -24.5% over the past year.
Price Volatility Vs. Market
How volatile is Inovalis Real Estate Investment Trust's share price compared to the market and industry in the last 5 years?
Simply Wall St News
4 weeks ago | Simply Wall StShould Inovalis Real Estate Investment Trust (TSE:INO.UN) Be Disappointed With Their 11% Profit?
1 month ago | Simply Wall StIs Inovalis Real Estate Investment Trust's (TSE:INO.UN) ROE Of 8.3% Impressive?
2 months ago | Simply Wall StHow Should Investors React To Inovalis Real Estate Investment Trust's (TSE:INO.UN) CEO Pay?
Is Inovalis Real Estate Investment Trust undervalued compared to its fair value and its price relative to the market?
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: INO.UN (CA$5.12) is trading below our estimate of fair value (CA$22.03)
Significantly Below Fair Value: INO.UN is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: INO.UN is good value based on its PE Ratio (5.5x) compared to the REITs industry average (6.8x).
PE vs Market: INO.UN is good value based on its PE Ratio (5.5x) compared to the Canadian market (10.6x).
Price to Earnings Growth Ratio
PEG Ratio: Insufficient data to calculate INO.UN's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: INO.UN is good value based on its PB Ratio (0.5x) compared to the CA REITs industry average (0.7x).
How is Inovalis Real Estate Investment Trust forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?
Forecasted annual revenue growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: Insufficient data to determine if INO.UN's forecast earnings growth is above the savings rate (1.4%).
Earnings vs Market: Insufficient data to determine if INO.UN's earnings are forecast to grow faster than the Canadian market
High Growth Earnings: Insufficient data to determine if earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: INO.UN's revenue (15.7% per year) is forecast to grow faster than the Canadian market (3.4% per year).
High Growth Revenue: INO.UN's revenue (15.7% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: Insufficient data to determine if INO.UN's Return on Equity is forecast to be high in 3 years time
How has Inovalis Real Estate Investment Trust performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: INO.UN has a large one-off gain of CA$6.0M impacting its September 30 2019 financial results.
Growing Profit Margin: INO.UN's current net profit margins (58.5%) are higher than last year (52.4%).
Past Earnings Growth Analysis
Earnings Trend: INO.UN's earnings have declined by -4.6% per year over the past 5 years.
Accelerating Growth: INO.UN's earnings growth over the past year (2.6%) exceeds its 5-year average (-4.6% per year).
Earnings vs Industry: INO.UN earnings growth over the past year (2.6%) underperformed the REITs industry 4.7%.
Return on Equity
High ROE: INO.UN's Return on Equity (8.3%) is considered low.
How is Inovalis Real Estate Investment Trust's financial position?
Financial Position Analysis
Short Term Liabilities: INO.UN's short term assets (CA$28.8M) do not cover its short term liabilities (CA$82.1M).
Long Term Liabilities: INO.UN's short term assets (CA$28.8M) do not cover its long term liabilities (CA$266.3M).
Debt to Equity History and Analysis
Debt Level: INO.UN's debt to equity ratio (73.8%) is considered high.
Reducing Debt: INO.UN's debt to equity ratio has increased from 59.5% to 73.8% over the past 5 years.
Debt Coverage: INO.UN's debt is not well covered by operating cash flow (9%).
Interest Coverage: INO.UN's interest payments on its debt are well covered by EBIT (10x coverage).
What is Inovalis Real Estate Investment Trust's current dividend yield, its reliability and sustainability?
Current Dividend Yield
Upcoming Dividend Payment
Dividend Yield vs Market
Notable Dividend: INO.UN's dividend (16.11%) is higher than the bottom 25% of dividend payers in the Canadian market (2.69%).
High Dividend: INO.UN's dividend (16.11%) is in the top 25% of dividend payers in the Canadian market (8.7%)
Stability and Growth of Payments
Stable Dividend: Whilst dividend payments have been stable, INO.UN has been paying a dividend for less than 10 years.
Growing Dividend: INO.UN has only been paying a dividend for 7 years, and since then payments have not increased.
Current Payout to Shareholders
Dividend Coverage: With its reasonable payout ratio (66.8%), INO.UN's dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: INO.UN's dividends in 3 years are forecast to be thoroughly covered by earnings (3.2% payout ratio).
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Mr. David Giraud has been the Chief Executive Officer of Inovalis Real Estate Investment Trust since April 10, 2013. Mr. Giraud Co-Founded Inovalis in 1998 and has focused on fund structuring, investor rel ...
CEO Compensation Analysis
Compensation vs Market: David's total compensation ($USD106.14K) is below average for companies of similar size in the Canadian market ($USD158.50K).
Compensation vs Earnings: David's compensation has been consistent with company performance over the past year.
|Chief Executive Officer||7yrs||CA$150.00k||no data|
|President & Director||0.83yr||CA$250.00k||no data|
|Chief investment Officer & CFO||0.83yr||CA$220.00k||no data|
Experienced Management: INO.UN's management team is not considered experienced ( 1.9 years average tenure), which suggests a new team.
|President & Director||0.83yr||CA$250.00k||no data|
|Chairman & Independent Lead Trustee||1.92yrs||CA$39.50k||0.13% CA$199.3k|
|Independent Trustee||2.75yrs||CA$38.75k||0.021% CA$31.6k|
|Independent Trustee||7.17yrs||CA$32.25k||no data|
|Independent Trustee||7.17yrs||CA$32.50k||0.39% CA$585.3k|
|Independent Trustee||2.58yrs||CA$37.99k||0.0035% CA$5.3k|
|Independent Trustee||1.92yrs||CA$21.73k||no data|
|Independent Trustee||0.42yr||no data||no data|
Experienced Board: INO.UN's board of directors are not considered experienced ( 2.3 years average tenure), which suggests a new board.
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 4.8%.
Inovalis Real Estate Investment Trust's company bio, employee growth, exchange listings and data sources
- Name: Inovalis Real Estate Investment Trust
- Ticker: INO.UN
- Exchange: TSX
- Industry: Office REITs
- Sector: Real Estate
- Implied Market Cap: CA$151.901m
- Market Cap: CA$147.485m
- Shares outstanding: 29.67m
- Website: https://www.inovalisreit.com
Number of Employees
- Inovalis Real Estate Investment Trust
- 151 Yonge Street
- 11th floor
- M5C 2W7
|Ticker||Exchange||Primary Security||Security Type||Country||Currency||Listed on|
|INO.UN||TSX (The Toronto Stock Exchange)||Yes||Units||CA||CAD||Apr 2013|
|IVRE.F||OTCPK (Pink Sheets LLC)||Yes||Units||US||USD||Apr 2013|
Inovalis Real Estate Investment Trust is an unincorporated, open-ended real estate investment trust established pursuant to a declaration of trust under the laws of the Province of Ontario. The REIT has been created for the purpose of acquiring and owning office properties primarily located in France and Germany but also opportunistically in other European countries where assets meet the REIT's investment criteria.
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2020/04/06 05:36|
|End of Day Share Price||2020/04/03 00:00|
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.