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    REIT - Office
Inovalis Real Estate Investment Trust

Inovalis Real Estate Investment Trust

IVREF
Inovalis Real Estate Investment TrustUS flagOther OTC
0.60
USD
- -
- -
20.13MMarket Cap
Inovalis Real Estate Investment Trust
IVREF
(Other OTC)

Recent

price

0.60

P/E

ratio

- -

div

yld

- -

ROIC.AI

2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
1.36
1.97
1.94
1.71
1.47
1.42
1.18
1.1
1.06
0.95
1.03
0.73
- -
0.62
Revenue per Share
1.53
1.39
2
1.28
0.86
0.66
1.27
0.56
0.93
-1.12
-0.91
-2.08
- -
-1.35
Basic EPS, GAAP
0.87
1.08
0.94
0.98
1.24
0.82
0.82
-0.08
-0.24
0.65
0.12
0.03
- -
-0.29
Free Cash Flow per Basic Share
0.53
0.8
0.77
0.75
0.71
0.71
0.58
0.7
1.13
0.68
0.41
- -
- -
- -
Dividend per Share
9.65
12.64
11.14
12.78
10.82
10.58
11.04
10.5
10.3
8.47
7.21
5.01
- -
3.66
Book Value per Share
10.85
13.25
12.43
13.25
11.93
12.13
11.59
11.63
10.62
8.79
7.59
5.48
- -
4.53
Tangible Book Value per Share
11
12
15
18
22
24
29
32
33
33
33
33
- -
33
Basic Weighted Avg Shares
15
23
30
31
33
33
34
36
34
31
34
24
22
21
Sales/Revenue/Turnover
60.55
61.47
57.87
55.36
57.9
55.16
48.76
52.71
36.54
46.99
51.08
33.44
23.87
21.09
Operating Margin (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Depreciation Expense
17
17
31
23
19
15
36
18
30
-37
-30
-69
-56
-45
Net Income, GAAP
0.07
5.71
2.3
5.19
4.18
44.21
2.18
0.59
1.91
- -
- -
- -
- -
25.62
Effective Tax Rate (%)
113.1
70.77
102.89
74.82
58.64
46.17
107.4
50.87
88.03
-118.34
-88.46
-286.75
-249.41
-220.12
Profit Margin (%)
-6
13
-3
-6
-28
-32
17
47
11
-8
-47
-33
-24
-71
Working Capital
104
181
196
209
239
206
248
275
155
199
162
150
149
87
LT Debt
123
158
192
241
265
285
333
377
346
288
247
182
138
151
Total Equity
- -
4.65
4.57
3.75
3.58
1.88
2.68
2.83
2.01
- -
- -
- -
- -
- -
Return on Invested Capital (%)
- -
6.84
9.58
6.51
4.92
3.82
7.8
4.2
6
- -
- -
- -
- -
57.12
Return on Capital (%)
- -
12.75
19.13
11.52
8.1
6.32
12.88
5.53
8.97
-12.02
-11.59
-34.45
-40.66
-31.1
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
54
56
83
LT Borrowings
68
58
- -
LT Finance Leases
95
91
87
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
33
33
33
Market Capitalization
27
33
37

Working Capital

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
87
51
32
Cash, Cash Equivalents & STI
12
25
20
Accounts Receivable, Net
2
2
1
Inventories
- -
- -
- -
Total Current Liabilities
65
75
103
Payables & Accruals
10
18
18
ST Debt
54
56
83
Deferred Revenue
1
- -
2

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
-1.66%
-17.96%
-24.41%
Free Cash Flow
-100.27%
-192.2%
-628.81%
Net Income, GAAP
-3.62%
-12.09%
-19.03%
Sales/Revenue/Turnover
-2.24%
-8.12%
-6.91%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
6
7
5
6
24
2025
6
6
6
6
22
2026
4
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
-0.42
-0.62
-0.29
- -
-2.08
2025
0.06
-0.34
0.01
- -
- -
2026
0.38
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -
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Business
Inovalis Real Estate Investment Trust (INO-UN.TO) is a Canadian open-ended real estate investment trust that acquires, owns and operates office properties primarily in the primary urban markets of France, Germany and Spain, with opportunistic investments in other European countries; its portfolio comprises approximately 12-13 high-quality "core-plus" assets featuring inflation-indexed leases, strategic locations near public transportation, and a focus on corporate tenants, generating the majority of rental income from France; properties are actively managed by local expert teams through CanCorpEurope, an authorized Alternative Investment Fund in Luxembourg managed by Inovalis S.A., with key highlights including a weighted average lease term of around 4.0 years, occupancy rates varying by segment (e.g., up to 98% in certain portfolios), and non-recourse asset-level financing. Founded in 2013 and headquartered at 151 Yonge Street, 11th Floor, Toronto, Ontario, M5C 2W7, Canada, the REIT targets institutional and private investors seeking exposure to Eurozone commercial real estate via a TSX-listed vehicle with FX-hedged distributions. Recent developments include the sale of the Sablière property in downtown Paris for €18.2 million on April 30, 2025, as part of an asset recycling plan to fund repositioning, redevelopment and debt reduction; an exchange agreement announced November 29, 2024, for the Sabère property at €18.2 million (expected close Q1 2025); a preliminary contract signed August 1, 2025, for the Baldi property at €14 million; and progress on divesting 87.5% of the Arcueil property for €37.5 million (target close H2 2026), alongside maintaining a debt-to-gross book value ratio of approximately 51.5% on the investment property portfolio as of September 30, 2025.

Company News

APIChat

  • businesswire.com

    Inovalis Real Estate Investment Trust Announces Voting Results at 2026 Annual General Meeting

  • businesswire.com

    Inovalis Real Estate Investment Trust Announces the Financial Results for Q1 2026

  • businesswire.com

    Inovalis Real Estate Investment Trust Announces the Financial Results for Q4 2025

  • businesswire.com

    Inovalis Real Estate Investment Trust Provides Update on Arcueil Withholding Tax Matter and Appeal

  • businesswire.com

    Inovalis Real Estate Investment Trust Announces Closing of the Disposition of the Trio Property

  • defenseworld.net

    Inovalis Real Estate Investment Trust (OTCMKTS:IVREF) Stock Price Up 0.4% – What’s Next?

  • businesswire.com

    Inovalis Real Estate Investment Trust Closes €14.0 Million Sale of Baldi Property

  • businesswire.com

    Inovalis Real Estate Investment Trust Announces Distribution and Special Non-Cash Distribution to Unitholders

  • businesswire.com

    Inovalis Real Estate Investment Trust Announces the Financial Results for Q3 2025

  • businesswire.com

    Inovalis Real Estate Investment Trust Announces the Financial Results for Q2 2025

  • businesswire.com

    Inovalis Real Estate Investment Trust Announces Voting Results at 2025 Annual General Meeting

  • businesswire.com

    Inovalis Real Estate Investment Trust Announces the Financial Results for Q1 2025

  • businesswire.com

    Inovalis Real Estate Investment Trust Announces the Closing of the Sale of the Sabliere Property for €18.2 Million

  • businesswire.com

    Inovalis Real Estate Investment Trust Announces Financial Results for Q4 2024

  • businesswire.com

    Inovalis Real Estate Investment Trust Announces the Conditional Sale of 87.5% of the Arcueil Property for €37.5 Million

  • businesswire.com

    Inovalis Real Estate Investment Trust Announces Special Non-Cash Distribution for December 2024

  • businesswire.com

    Inovalis Real Estate Investment Trust Announces the Sale of the Sabliere Property for €18.2 Million

  • businesswire.com

    Inovalis Real Estate Investment Trust Provides Update on Sale of Sabliere Property

  • businesswire.com

    Inovalis Real Estate Investment Trust Announces Voting Results at 2024 Annual General Meeting

  • businesswire.com

    Inovalis Real Estate Investment Trust Announces Filing of Amended and Restated Unitholder Rights Plan Agreement in Connection With Its Upcoming Annual General Meeting