High yield FII pays 191% of the CDI in dividends and leads the biggest increases in April

FII Devant Receivíveis (DEVA11) ended April with the best performance among the main real estate funds on the market. The portfolio closed this Tuesday’s session (30) with an increase of 0.5% and accumulated gains of more than 14% in the month.

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The number is part of a survey of the InfoMoney with data from Economatica, which only considers the real estate funds that make up Ifix – the index of the most traded FIIs on the Stock Exchange.

Classified as an FII high yield – higher risk –, DEVA11 invests in real estate receivables certificates (CRI) and currently has a net worth of R$1.382 billion.

With gains of 14.6% in April, Devant Recebívies tops the list of the biggest risers of the month, followed by RBR Properties (RBRP11) and Cartesia Rececíveis (CACR11), which rise 4.5% and 3.5%, respectively . See the full list.

DEVA11’s good performance in April comes especially after the fund announced the highest dividend in 12 months. In April, the portfolio paid R$0.68 per share, equivalent to one dividend yield (rate of return with dividend) of 1.60 per share.

According to the fund’s calculations, the income distributed this month represents a remuneration equivalent to 191.93% of the CDI rate – a reference for fixed income investments.

According to a management report released last Friday (26), the April dividend was influenced by extraordinary revenue received by the fund in March.

“The fund was reimbursed for the expense of legal services contracted by the previous administration, resulting in extraordinary revenue of approximately R$0.09 per share”, confirms the document.

DEVA11 is among the funds high yield which, in 2023, suffered from a series of CRI defaults. The portfolio recorded losses of more than 40% last year.

April’s biggest casualties

At the other end of the list led by DEVA11 appears FII Cenesp (CNES11), which accumulated losses of almost 40% in April. REC Renda Imobiliária (RECT11) and Pátria Logística (PATL11) appear next. See the list.

In the corporate buildings segment, CNES11 has in its portfolio the Cenesp building, in São Paulo (SP), whose current vacancy rate is 54.6%, according to data from Status Invest, a financial information platform.

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