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Inovalis Real Estate Investment Trust

Real Estate REIT - Office
PortfolioPortfolio WatchlistWatchlist
Company price
0.64 CAD 0.03 ( 4.92%)
Last update at 2026-11-04T19:17:00Z
VOLUME
76238
Market Cap
51.61M

Momentum Score

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Inovalis REIT is a real estate investment trust listed on the Toronto Stock Exchange in Canada. It was founded in 2013 by Inovalis and invests in office properties in primary markets of France, Germany and Spain. It holds 13 assets. Inovalis REIT acquires (indirectly) real estate properties via CanCorpEurope, authorized Alternative Investment Fund (AIF) by the CSSF in Luxemburg, and managed by Inovalis S.A.

Source: TradingView
The charts and visual representations are sourced from TradingView through embedded widgets. For any issues with chart display, please visit the TradingView website

Day Price Range
0.60
Low
0.66
High
52 Week Price Range
0.67
Low
4.37
High

Momentum Score

…
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A unique technical analysis driven score developed by Kalkine showing momentum in stock prices based on select technical indicators identified.

Score - Rating
>= 1 - Low / > 1 but < 2 - Below Average / > 2 but < 3 - Average / > 3 but < 4 - Above Average / > 4 - High
AI Summary

Inovalis Real Estate Investment Trust is a Toronto-listed REIT that owns and manages income-producing commercial properties to generate rental income and capital appreciation. Long-term growth may be driven by rent recovery, leasing execution, active asset management and selective acquisitions, making it relevant for investors seeking income exposure to professionally managed real estate.

Key risks include interest-rate sensitivity, property-market cyclicality, tenant occupancy and credit risk, potential portfolio concentration or geographic exposure, and refinancing or leverage pressures investors should monitor.

Risk Score
Medium

Note: The summary and risk score provided above is created by AI and should not be construed as a recommendation of Kalkine.

Key Metrics*

Previous Close
0.61
Dividend Yield
26.79%
Revenue TTM
26.22M
Revenue Per Share
0.80
Gross Profit TTM
22.13M
Debt / Equity
0.85
ROE
-11.90%
Net Debt
197.92M
ROCE
2.04%
Diluted EPS TTM
-1.07

Key Financials*

Income Statement

Balance Sheet

Change in Cash

Total Operating Cash

Dividends Paid

Breakdown 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31
Type yearly yearly yearly yearly yearly
Date 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31
Income before tax -39.76M 30.89M 18.32M 37.34M 29.05M
Minority interest 0.12M 0.03M 1.42M 1.20M 0.52M
Net income -36.98M 30.33M 18.20M 36.45M 22.15M
Selling general administrative 6.49M 11.54M 7.73M 6.14M 4.78M
Gross profit 21.63M 24.19M 26.60M 22.99M 23.25M
Ebit 10.02M -19.26M 7.45M 44.89M 24.16M
Ebitda 16.23M 11.62M 17.54M 35.98M 37.33M
Depreciation and amortization 6.22M 30.89M 10.09M -8.90M -
Operating income 10.02M -19.26M 7.45M 44.89M 25.69M
Other operating expenses 16.51M 21.87M 16.91M 17.39M 15.01M
Interest expense 4.80M 4.98M 8.27M 8.56M 8.43M
Tax provision -2.78M 0.59M 0.11M 0.81M 6.75M
Interest income 2.75M 3.35M 5.68M 7.84M 7.78M
Net interest income 1.03M -2.65M -3.47M -1.45M -3.19M
Income tax expense -2.78M 0.59M 0.11M 0.81M 6.75M
Total revenue 31.14M 34.46M 35.77M 33.94M 33.49M
Total operating expenses 7.00M 11.60M 7.75M 6.44M 4.78M
Cost of revenue 9.51M 10.27M 9.17M 10.95M 10.23M
Total other income expense net -49.77M 50.15M 10.87M -7.54M 3.36M
Net income from continuing ops -36.98M 30.30M 18.21M 36.53M 22.30M
Net income applicable to common shares -36.85M 30.33M 18.20M 36.45M 15.46M
Breakdown 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31
Type yearly yearly yearly yearly yearly
Date 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31
Total assets 561.11M 587.25M 712.09M 710.21M 619.34M
Other current assets - 1.16M 0.73M 11.22M 46.93M
Total liab 272.93M 241.16M 335.43M 377.06M 327.26M
Total stockholder equity 286.98M 344.79M 375.24M 331.94M 291.56M
Other current liab 17.81M 16.75M 24.09M 36.87M 30.31M
Common stock 289.94M 288.75M 286.98M 259.53M 207.44M
Capital stock 289.94M 288.75M 286.98M 259.53M 207.44M
Retained earnings -12.33M 46.98M 53.35M 57.83M 47.97M
Other liab 4.21M 6.11M 15.36M 14.22M 17.45M
Other assets - 4.96M 4.87M 4.71M 27.67M
Cash 45.18M 76.63M 80.38M 83.41M 19.11M
Total current liabilities 70.10M 54.90M 42.61M 109.46M 103.31M
Current deferred revenue 0.79M 4.00M 0.52M 5.49M 4.39M
Net debt 197.92M 130.49M 208.28M 225.23M 251.84M
Short term debt 44.47M 27.33M 13.63M 60.70M 64.88M
Short long term debt 38.05M 19.63M 4.79M 52.11M 57.06M
Short long term debt total 243.09M 207.12M 288.66M 308.64M 270.95M
Other stockholder equity 9.37M 9.05M 34.91M 14.59M 36.00M
Property plant equipment 437.42M 427.63M 541.22M 478.70M 421.94M
Total current assets 62.42M 90.32M 90.01M 126.01M 71.03M
Long term investments 56.02M 64.33M 75.99M 100.78M 98.70M
Net tangible assets 286.98M 344.79M 375.24M 331.94M 284.72M
Net receivables 11.22M 12.54M 8.89M 31.11M 4.99M
Long term debt 96.50M 73.43M 153.21M 130.63M 83.39M
Accounts payable 7.03M 6.81M 4.37M 6.41M 3.41M
Accumulated other comprehensive income 9.37M 9.05M 34.91M 14.59M 36.15M
Non currrent assets other 442.67M 432.60M 546.09M 483.42M 449.61M
Non current assets total 498.69M 496.92M 622.08M 584.20M 548.31M
Capital lease obligations 108.55M 114.05M 130.66M 125.90M 130.50M
Breakdown 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31
Type yearly yearly yearly yearly yearly
Date 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31
Investments -60.47M 1.74M 10.93M 0.17M -10.27M
Change to liabilities 0.00M 2.46M -17.24M 10.54M -1.44M
Total cashflows from investing activities -60.47M 106.61M 33.00M 66.67M -13.55M
Net borrowings 32.08M -60.85M -7.09M -58.12M 9.74M
Total cash from financing activities 9.70M -97.54M -37.17M -25.75M -7.98M
Change to operating activities - -1.02M -0.08M -0.06M 1.33M
Net income -39.76M 30.89M 18.32M 37.34M 22.15M
Change in cash -31.45M -3.75M -3.03M 63.41M -0.35M
Begin period cash flow 76.63M 80.38M 83.41M 19.99M 20.34M
End period cash flow 45.18M 76.63M 80.38M 83.41M 19.99M
Total cash from operating activities 21.43M -7.92M -2.67M 23.49M 20.39M
Issuance of capital stock - - 0.00M 51.49M -
Other cashflows from investing activities 2.24M 2.66M 2.88M -2.35M 1.85M
Dividends paid 22.37M 36.69M 22.59M 16.53M 16.69M
Change to account receivables - -1.72M -1.65M -0.28M 1.35M
Sale purchase of stock - - -7.50M 122.94M -
Other cashflows from financing activities 51.32M 106.61M 33.00M 120.34M 19.20M
Change to netincome - -38.05M -2.03M -23.46M 2.36M
Capital expenditures 0.00M 0.00M 0.00M 0.00M 0.00M
Change in working capital 8.17M -0.28M -18.97M 10.20M 1.25M
Other non cash items 53.01M -38.52M -2.01M -24.05M -3.01M
Free cash flow 21.43M -7.92M -2.67M 23.49M 20.39M

Peer Comparison*

Sector: Real Estate Industry: REIT - Office

Stock Name
Change
(CAD)
Price
(CAD)
Trailing
PE (x)
Forward
PE (x)
Price Sales
TTM (x)
Price to Book Value (x)
Enterprise Value
to Revenue (x)
Enterprise Value
to EBITDA (x)
INO-UN
Inovalis Real Estate Investment Trust		 0.03
4.92%		 0.64 - - 1.97 0.18 7.03 -8.93
AP-UN
Allied Properties Real Estate Investment Trust		 0.29
7.95%		 4.00 - 9.52 4.60 0.38 10.87 84.47
D-UN
Dream Office Real Estate Investment Trust		 0.15
0.96%		 15.85 - 13.39 2.20 0.28 8.65 -38.01
BTB-UN
BTB Real Estate Investment Trust		 0.05
1.38%		 3.68 7.33 7.28 2.11 0.55 7.77 13.96
TNT-UN
True North Commercial Real Estate Investment Trust		 0.22
2.99%		 7.59 - - 1.13 0.32 7.16 -39.32

Profile*

Inovalis Real Estate Investment Trust

Inovalis REIT is a real estate investment trust listed on the Toronto Stock Exchange in Canada. It was founded in 2013 by Inovalis and invests in office properties in primary markets of France, Germany and Spain. It holds 13 assets. Inovalis REIT acquires (indirectly) real estate properties via CanCorpEurope, authorized Alternative Investment Fund (AIF) by the CSSF in Luxemburg, and managed by Inovalis S.A.

151 Yonge Street, Toronto, ON, Canada, M5C 2W7

(647) 775-8431

https://www.inovalisreit.com

300

Name Title Year Born
Mr. David Giraud Chief Exec. Officer NA
Mr. Stephane Joseph Amine Pres 1968
Mr. Khalil Hankach CFO, Chief Investment Officer & Sec. NA
Ms. Anne Smolen Chief Financial Officer of Europe NA

Disclaimer - (*)This information, including any data, is sourced from Unicorn Data Services SAS, trading as EOD Historical Data (“EODHD”) on an ‘as is’ basis, using their API. We cannot guarantee the completeness or validity of the information and data provided on this page, as well as via the API. In some cases, the data may include analyst ratings or recommendations sourced through the EODHD API, which are intended solely for general information purposes.
This information does not consider your personal objectives, financial situation, or needs. Kalkine is not liable for any errors or omissions in the information provided or for any actions taken in reliance on it. You should seek advice from a financial adviser, stockbroker or other professional adviser (including taxation and legal advice) as necessary before acting on this information.

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