Inovalis REIT

Inovalis REIT

0.69
CAD
+0.04
(+6.15%)
-1.36EPS
25.84MMarket Cap
Nov 11Next Earn
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
1.36
1.97
1.94
1.71
1.47
1.42
1.18
1.1
1.06
0.95
1.03
0.73
0.67
0.57
Basic EPS, GAAP
1.53
1.39
2
1.28
0.86
0.66
1.27
0.56
0.93
-1.12
-0.91
-2.08
-1.68
-1.35
Free Cash Flow per Basic Share
0.87
1.08
0.94
0.98
1.24
0.82
0.82
-0.08
-0.24
0.65
0.12
0.03
-0.14
-0.19
Dividend per Share
0.53
0.8
0.77
0.75
0.71
0.71
0.58
0.7
1.13
0.68
0.41
- -
- -
- -
Book Value per Share
10.9
10.32
12.26
11.2
11.91
12.11
11.55
11.58
10.58
8.76
7.56
5.48
4.17
4.21
Tangible Book Value per Share
10.9
10.32
12.26
11.2
11.91
12.11
11.55
11.58
10.58
8.76
7.56
5.48
4.17
4.21
Basic Weighted Avg Shares
11
12
15
18
22
24
29
32
33
33
33
33
33
33
Sales/Revenue/Turnover
15
23
30
31
33
33
34
36
34
31
34
24
22
19
Operating Margin (%)
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
22.01
Depreciation Expense
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Net Income, GAAP
17
17
31
23
19
15
36
18
30
-37
-30
-69
-56
-45
Effective Tax Rate (%)
0.07
5.71
2.3
5.19
4.18
44.21
2.18
0.59
1.91
- -
- -
- -
- -
- -
Profit Margin (%)
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
-236.4
Working Capital
-6
13
-3
-6
-28
-32
17
47
11
-8
-47
-33
-24
-74
LT Debt
104
181
196
209
239
206
248
275
155
199
162
150
149
85
Total Equity
123
158
192
241
265
285
333
377
346
288
247
182
138
141
Return on Invested Capital (%)
- -
9.68
10.32
6.8
4.11
2.51
7.27
2.24
0.8
- -
- -
- -
- -
- -
Return on Capital (%)
- -
6.6
9.23
6.3
4.76
3.61
7.47
4.04
5.79
- -
- -
- -
- -
- -
Return on Common Equity (%)
- -
11.79
17.64
10.76
7.58
5.63
11.82
5.15
8.43
-11.67
-11.13
-32.27
-34.89
-27.51

Capital Structure

CAD

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
56
83
87
LT Borrowings
58
- -
- -
LT Finance Leases
91
87
85
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
33
33
34
Market Capitalization
36
33
26

Working Capital

CAD

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
51
32
27
Cash, Cash Equivalents & STI
25
20
16
Accounts Receivable, Net
2
1
2
Inventories
- -
- -
- -
Total Current Liabilities
75
103
101
Payables & Accruals
18
18
13
ST Debt
56
83
87
Deferred Revenue
- -
2
1

Growth Rates

CAD

•

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

CAD

•

in mil. unless spec.

Year

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

Quarterly Earnings Per Share

CAD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
-0.42
-0.62
-0.29
-0.79
-2.08
2025
0.06
-0.34
0.01
-1.41
-1.68
2026
0.38
-0.34
- -
- -
- -

Quarterly Dividends Per Share

CAD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -

Company Description

CEO
Stéphane Joseph Amine
Full Time Employees
300
Sector
Finance
Industry
Real estate investment trusts
Address
151 Yonge Street Toronto ON Canada M5C 2W7
IPO Date
Apr 10, 2013
Business
Inovalis Real Estate Investment Trust (TSX: INO-UN) operates as a Canadian-listed real estate investment trust focused on owning and leasing office properties in primary urban markets across France, Germany, and Spain; its portfolio consists of approximately 12-13 income-producing office assets with a total gross leasable area exceeding 400,000 square feet, generating revenue primarily from long-term rental contracts with corporate tenants; properties feature varying occupancy rates from 65% to 100% and weighted average lease terms of 2.5 to 6.5 years. The REIT acquires and manages these assets indirectly through CanCorpEurope, a Luxembourg-regulated Alternative Investment Fund authorized by the CSSF and overseen by Inovalis S.A., targeting stable rental income in key European economic hubs. Founded in 2013 by Inovalis Group—a pan-European real estate investment manager with €7 billion in assets under management headquartered in Paris—the REIT is based at 151 Yonge Street in Toronto, Ontario, Canada, and employs around 300 professionals across its operations. Recent strategic dispositions include the April 2025 closing of the Sablière property sale in downtown Paris for €18.2 million ($28.3 million), yielding net proceeds of approximately €8.4 million ($13 million) allocated to debt reduction and value-enhancing leasing or redevelopment initiatives; the January 2025 conditional agreement to sell 87.5% of the Arcueil property for €37.5 million to two third parties, advancing its asset recycling plan amid shifting office demand dynamics; and the achievement of its first LEED Platinum certification in Spain for the Francisca Delgado 9 building in Alcobendas, Madrid, underscoring sustainability enhancements. These transactions reflect ongoing portfolio optimization efforts, with Q3 2025 net rental income showing slight growth and unitholder approvals secured for key sales under Multilateral Instrument 61-101. The REIT continues to pursue financial flexibility through such dispositions while maintaining focus on high-quality, urban office exposures in its core geographies.

Company News

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  • Inovalis Real Estate Investment Trust Announces the Financial Results for Q2 2026

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

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

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

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

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

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

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

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

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

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

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

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

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

  • Inovalis Real Estate Investment Trust Announces Financial Results for Q4 2024

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

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

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