2023-10-09 16:28:05
Real Estate Investment Funds (FIIs) have become increasingly popular in the financial market, offering investors a diversified and accessible way of investing in the real estate sector. Among the various FII segments, shopping funds have stood out, attracting the attention of investors interested in obtaining participation in large shopping centers and diversifying their asset portfolio.
In this comprehensive guide, we will explore B3’s largest shopping FIIs in terms of number of shareholders, provide relevant information regarding each of them and discuss the main indicators to be analyzed when investing in this segment.
The Benefits of Shopping Real Estate Funds
Mall real estate funds offer a series of benefits to investors. By purchasing shares in these FIIs, investors become holders of a portion of the revenue generated by the shopping malls, including rentals for stores, cinemas and parking lots. Furthermore, FIIs provide asset diversification through a single investment, allowing investors to have exposure to different shopping centers located in different regions.
Despite the impact of the pandemic on the shopping mall sector, there is a positive outlook for these assets, as the return of the population to shopping malls is normalized. With the reopening of establishments and the resumption of economic activities, it is expected that shopping malls will once once more attract a diverse public and generate consistent revenue.
B3’s Largest Shopping FIIs by Number of Shareholders
Considering the number of shareholders, B3’s largest shopping FIIs are:
1. XP Malls (XPML11)
XPML11 is the largest shopping mall real estate fund in terms of number of shareholders, with a total of 348,633 investors. This FII is managed by XP Investimentos and managed by XP Vista Asset Management. The fund has a well-diversified portfolio, with 16 assets distributed across different regions.
2. Vinci Shopping Centers (VISC11)
VISC11 is B3’s second largest shopping FII in terms of number of shareholders, with 262,414 investors. This fund is managed by Vinci Real Estate and has a portfolio made up of 20 strategically located shopping malls, which attract a diverse audience.
3. HSI Malls (HSML11)
HSML11 is the third largest shopping FII in terms of number of shareholders, with a total of 163,853 investors. This fund is managed by Hedge Investments and has a portfolio made up of several shopping centers spread across Brazil.
4. Genial Malls (MALL11)
MALL11 is B3’s fourth largest shopping FII in terms of number of shareholders, with 129,196 investors. This fund is managed by Genial Investimentos and has a portfolio made up of shopping centers located in different regions of the country.
5. Hedge Brasil Shopping (HGBS11)
HGBS11 is the fifth largest shopping FII in terms of number of shareholders, with a total of 89,636 investors. This fund is managed by Hedge Investments and has a portfolio made up of several shopping centers spread across Brazil.
Analyzing the Main Indicators of Shopping FIIs
When investing in shopping FIIs, it is essential to analyze the main operational indicators demonstrated in management reports. These indicators provide insights into the development of the venture and can help investors make decisions. Next, we will briefly evaluate each of these indicators.
NOI (Net Operating Income)
The NOI, or net operating result, is a fundamental indicator to be analyzed. It measures the ability of FII assets to generate operating cash. The more positive the NOI, the better indication that the stores are performing well. It is worth noting that NOI does not consider debt service and investments. It includes rental income, other income and expenses related to the operation of the mall.
Sales Indicator
This indicator measures the evolution of store sales, which is a crucial part of the FII’s revenue and depends on the stores’ performance. It is important to analyze sales per square meter, as nominal sales can be influenced by new acquisitions.
Same Store Sales (SSS)
The SSS is a comparison of declared sales of the same stores in different periods, generally in the same period of the previous year. This indicator makes it possible to assess sales growth at existing stores, excluding the impact of new stores or removals.
Same Store Rent (SSR)
The SSR is a comparison of rents for the same stores in different periods, generally in the same period of the previous year. This indicator makes it possible to assess the growth in rents of existing stores, excluding the impact of new stores or removals.
Conclusion
Investing in shopping FIIs can be an interesting strategy for investors who wish to obtain shares in large shopping centers and diversify their asset portfolio. By analyzing the main operational indicators of these funds, investors can make more informed decisions and identify investment opportunities.
It is important to highlight that the choice of an FII must take into account not only the number of shareholders, but also other factors, such as the quality of the fund’s assets, historical performance and the manager’s expertise. It is recommended that investors carry out an in-depth analysis before investing in any FII.
In this comprehensive guide, we explore B3’s largest shopping FIIs in terms of number of shareholders and discuss the main indicators to be analyzed when investing in this segment. We hope this information is useful to investors interested in exploring the opportunities offered by shopping REITs.
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