Inovalis REIT Un (TSE:INO.UN)
TSX:INO.UN
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Inovalis REIT
(TSX:INO.UN)
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Rating:46Neutral
Price Target:
C$0.75
▼(-19.89% Downside)
Action:Reiterated
Date:05/15/26
The score is held down primarily by poor financial performance (sharp losses and negative operating/free cash flow) and bearish technicals (below key moving averages with negative MACD). Valuation offers some support via a very low P/E and a ~6% dividend yield, but it does not offset the current profitability and cash-flow risks.
Positive Factors
Recurring rental income model
The REIT's core revenue derives from contractual base rents and tenant recoveries on leased commercial properties across Europe. That lease-driven model provides predictable, recurring cash inflows and rental roll visibility, supporting operational planning and income stability over the medium term.
Negative Factors
Sustained revenue decline
Multi-year revenue contraction reduces the rental base and undermines scale economics, pressuring margins and cash flows. Persistent top-line decline weakens the foundation for distributions and reinvestment, and it heightens reliance on successful lease renewals or asset repositioning to restore stability.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring rental income model
The REIT's core revenue derives from contractual base rents and tenant recoveries on leased commercial properties across Europe. That lease-driven model provides predictable, recurring cash inflows and rental roll visibility, supporting operational planning and income stability over the medium term.
Read all positive factors
Inovalis REIT (INO.UN) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$27.11M
Dividend YieldN/A
Average Volume (3M)44.00K
Price to Earnings (P/E)0.6
Beta (1Y)0.20
Revenue Growth-14.24%
EPS Growth17.34%
CountryCA
Employees300
SectorReal Estate
Sector Strength53
IndustryREIT - Office
Share Statistics
EPS (TTM)-1.36
Shares Outstanding33,492,817
10 Day Avg. Volume42,959
30 Day Avg. Volume43,997
Financial Highlights & Ratios
PEG Ratio0.03
Price to Book (P/B)0.25
Price to Sales (P/S)1.57
P/FCF Ratio-7.30
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)C$12.80M
Inovalis REIT Business Overview & Revenue Model
Company Description
Inovalis Real Estate Investment Trust is an unincorporated, open-ended real estate investment trust established pursuant to a declaration of trust under the laws of the Province of Ontario. The REIT has been created for the purpose of acquiring an...
How the Company Makes Money
Inovalis REIT generates revenue primarily from rental income earned on its European commercial real estate portfolio. Tenants pay base rent under lease contracts, which forms the core recurring revenue stream; depending on lease terms, tenants may...
Inovalis REIT Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
52
Neutral
Cash Flow
22
Negative
| Breakdown | TTM | Dec 2025 | Mar 2025 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 20.41M | 22.39M | 24.11M | 33.57M | 31.14M | 34.46M |
| Gross Profit | 8.74M | 9.23M | 13.78M | 23.22M | 21.63M | 24.19M |
| EBITDA | -30.42M | -41.67M | -61.80M | -21.80M | 16.23M | 35.87M |
| Net Income | -45.13M | -55.97M | -69.13M | -29.69M | -36.98M | 30.33M |
Balance Sheet | ||||||
| Total Assets | 343.12M | 363.38M | 412.22M | 484.06M | 561.11M | 587.25M |
| Cash, Cash Equivalents and Short-Term Investments | 21.39M | 25.43M | 6.25M | 12.61M | 45.18M | 76.63M |
| Total Debt | 170.09M | 204.53M | 215.51M | 221.04M | 243.09M | 207.12M |
| Total Liabilities | 192.06M | 225.73M | 230.11M | 236.69M | 272.93M | 241.16M |
| Stockholders Equity | 151.40M | 138.81M | 182.04M | 246.42M | 286.98M | 344.79M |
Cash Flow | ||||||
| Free Cash Flow | -9.56M | -4.83M | 913.00K | 3.97M | 21.43M | -112.81M |
| Operating Cash Flow | -9.56M | -4.83M | 913.00K | 3.97M | 21.43M | -7.92M |
| Investing Cash Flow | 66.36M | 50.96M | 701.00K | 2.15M | -60.47M | 106.61M |
| Financing Cash Flow | -42.83M | -28.12M | -7.92M | -39.08M | 9.70M | -97.54M |
Inovalis REIT Technical Analysis
Negative
0.93
Price Trends
0.84
Negative
0.95
Negative
0.88
Negative
Market Momentum
-0.02
Negative
46.48
Neutral
56.48
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:INO.UN, the sentiment is Negative. The current price of 0.93 is above the 20-day moving average (MA) of 0.81, above the 50-day MA of 0.84, and above the 200-day MA of 0.88, indicating a bearish trend. The MACD of -0.02 indicates Negative momentum. The RSI at 46.48 is Neutral, neither overbought nor oversold. The STOCH value of 56.48 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:INO.UN.
Inovalis REIT Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
59 Neutral | C$328.36M | 10.11 | 4.68% | 7.37% | -3.12% | -41.32% | |
52 Neutral | C$115.35M | 54.10 | -8.46% | 5.79% | 2.66% | -31.63% | |
46 Neutral | C$27.11M | 0.56 | -18.69% | ― | -14.24% | 17.34% | |
| ― | C$2.15M | -0.02 | -141.77% | ― | -4.73% | 70.12% |
* Real Estate Sector Average
TSE:INO.UN
Inovalis REIT
0.80
-0.18
-18.37%
TSE:BTB.UN
BTB REIT
3.72
0.42
12.66%
TSE:RPR.UN
Slate Office REIT
0.03
-0.43
-94.44%
TSE:TNT.UN
True NthCommercial
8.20
-0.09
-1.07%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.