Real estate funds (REITs) are the first choice for many investors looking for additional income, especially for retirement. The attraction is in the low level of volatility in relation to the stock market and in the monthly bonus through the distribution of shares (dividends).
In addition, FIIs are easy to understand for those who start working on the exchange. Buying a brick real estate fund share can be compared to a small piece of real estate, for example. Thus, investors can increase their stakes and get higher returns.
a UOL Talk to the experts, who list 12 real estate funds that pay dividends of at least 10% annually. (See list at the end of the report).
Extra income with dividends
For the managing partner of Ouro Preto Investimentos, João Baptista Peixoto Neto, above all, investors should differentiate between the two possible forms of remuneration: through capital gains (ie with equity appreciation in the case of secondary) or with income distributed by funds.
“You can’t value a fund by just its dividend yield. You have to understand what’s behind these returns and that higher returns usually present greater risks. In addition, an increase in dividends is associated with a decline in the share price of these funds,” says Peixoto Neto.
The specialist says that there are FIIs that track high inflation. This is common among CRI (real estate receivable) funds, also known as paper funds. It is a way to invest in debt securities. That is, the investor offers some kind of loan to the real estate sector, with a promise to receive interest later.
Even in the long run, if there is a drop in inflation, IPCA-linked manufacturers will still be attractive, because as inflation goes down, the interest rate must also go down.
joao baptist Peixoto Neto, from Ouro Preto Investimentos
a IPCA reached 10.54% in the 12 months to February, which is the main inflation indicator in Brazil. With the rally, head of analysis at investment consolidation firm Dividendos.me, Guilherme Gentile, said paper FIIs are becoming “darlings” of investors. But he doesn’t think the scenario will hold up in the long run.
With high selec rate [taxa básica de juros]Inflation tends to subside and return to approaching the central bank’s target [3,5%]. We live in mysterious times, especially with the war between Russia and Ukraine. But, regardless of the high return or lack thereof of these, they fit into any stock portfolio.
Gilherme KindlyFrom Dividend
Gentiles believe that even if the yield falls as a result of successive increases in the prime rate, paper FIIs do not become “junk”.
“The market lives in cycles. Paper funds have high rates of inflation and, moreover, they can easily change their strategy. Instead of having only bonds indexed with IPCA, they can switch to bonds indexed with CDI,” he says.
Analyst at Top Gain analysis house, Sidney Lima, announced that the main objective of the real estate funds is the distribution of monthly profits. This is related to the company’s ability to generate and manage cash.
“I think repetition [dos FIIs] It must continue. However, it is worth considering the variance in share value, as there are funds that have accrued payments of more than 10% of dividends in recent months, even with the level of devaluation greater than that in the past 12 months,” Lima says.
According to Top Gain analyst, scenario of high inflation and high interest rates (Selic at 11.75% per year), paper funds end up being more useful than trusts – precisely because of their close relationship with sector debt negotiations.
“It’s also very interesting in terms of the potential for asset diversification,” Lima says. “Brick funds are really becoming more attractive looking at the longer term.”
However, the most important thing is diversification of investments, according to Gentle, of Dividendos.me.
“Investors can confuse paper funds with bricks, and one will benefit from inflation and a flat rate, and the other will benefit from rents and the appreciation of the ‘brick’ itself,” he says.
Check out a full list of FIIs with payouts over 10% annually, as recommended by experts. There are 12 different real estate funds out of the 15 nominations submitted.
Funds with a minimum profit of 10% per annum
Guilherme Gentile, Head of Analysis at Dividendos.me
Sydney Lima, Analyst at Top Gain
Joao Baptista Peixoto Neto, Managing Partner of Ouro Preto Investimentos
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