Maxi Renda currently has 1.17 billion shareholders, with the value of its assets valued at R$9.73 per share. (Image: iStock/ Vertigo3d)
O Maxi Renda (MXRF11), the largest real estate fund on the stock exchange, is currently trading at a premium, that is, its shares are expensive in relation to their asset value. With this, the BTG Pactual assesses that this factor could impact the attractiveness of the FII in the short term.
In the quarterly update report for each fund covered by the bank, analysts Daniel Marinelli and Matheus Oliveira highlight, however, that MXRF11 presents a multi-strategic investment portfolio, composed of “good debtors” and a significant allocation in FIIs. Furthermore, they assess that there is an “excellent level of liquidity” at Maxi Renda.
Among recent events, Marinelli and Oliveira highlight the closing of the 10th issue of quotas, which raised R$1 billion, in addition to the allocation of R$412 million in Real Estate Receivables Certificates (CRIs).
Maxi Renda currently has 1.17 billion shareholders, with the value of its assets valued at R$9.73 per share. Its last dividend distribution was on September 13th when it paid investors R$0.09 per share. The fund's dividend yield over the last 12 months is 12.32%.
BTG, therefore, maintains its purchase recommendation for the asset, with a target price of R$10.22, which represents an increase of 2.40% in relation to the last closing price of R$9.98.