HRES11 is a tiny Brazilian real-estate fund that turned heads with a double-digit dividend yield a couple of years ago, then saw its payouts shrink. It remains a curiosity: a REIT with virtually no debt and a rock-bottom price tag relative to its profits. Full nameHRE Securitizadora Fundo de Investimento Imobiliário Tickers / exchangeHRES11 / B3 (São Paulo) HeadquartersSão Paulo, SP, Brazil SectorReal Estate – Diversified REIT EmployeesNot disclosed (externally managed fund) Market valueR$ 68 million (US$ 13.5 million) Yearly salesR$ 9.7 million (US$ 1.9 million) – trailing twelve months Net profitR$ 9.6 million (US$ 1.9 million) Net margin99% (our calculation) Return …
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