contentSlug

type

ContentSlug_ContentQuery

slug

ContentPageContentQuery

content

trendingContent

query ContentSlug_ContentQuery(
  $contentSlug: String!
  $type: [ContentType!]
) {
  ...ContentPageContentQuery_13QmVO
}

fragment CompanyDetails_Content on Content {
  __isContent: __typename
  companies {
    name
    description
    pageUrl
    id
  }
}

fragment ContentBasicInfo on Content {
  __isContent: __typename
  id
  type
  title
  lang
  companies {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  tags {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  ...PublishingDetails
  ...Reactions
}

fragment ContentMetadata on Content {
  __isContent: __typename
  type
  title
  lang
  pageUrl
  alternatePageUrls: translations {
    __typename
    pageUrl
    lang
  }
  imgUrl
  description
  ... on Video {
    liveTime
    videoUrl
  }
  ... on Webcast {
    liveTime
    videoUrl
  }
}

fragment ContentPageContentQuery_13QmVO on Query {
  content(slug: $contentSlug, type: $type) {
    __typename
    id
    type
    title
    isPremium
    lang
    htmlBody
    summary
    companies {
      forum {
        latestPosts {
          ...ForumPosts
        }
      }
      name
      id
      viewerIsFollowing
      pageUrl
      defaultInstrument {
        isin
        id
        marketOpen
        marketClose
        marketplace {
          region
        }
        returns {
          total
        }
      }
    }
    tags {
      viewerIsFollowing
      id
      name
      pageUrl
    }
    createdAt
    ... on Video {
      liveTime
    }
    ... on Webcast {
      liveTime
    }
    slug
    ... on CompanyReport {
      reportUrl
    }
    ... on ThirdPartyCompanyReport {
      reportUrl
    }
    ... on StockExchangeRelease {
      reportUrl
    }
    ...ContentBasicInfo
    ...ContentMetadata
    ...PriceAndRecommendation_Content
    ...CompanyDetails_Content
    ...ReportLink_Content
    ...KeyFigures_Content
  }
  ...TrendingContent_1jQ2Cn
}

fragment ForumPosts on ForumPost {
  text
  likesCount
  url
  author
  postedAt
  authorImgUrl
}

fragment KeyFigures_Content on Content {
  __isContent: __typename
  companies {
    defaultInstrument {
      estimateData {
        modelType
        reportingCurrency
      }
      snapshot {
        transaction {
          date
          actualized {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
          }
          estimates {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
          }
        }
      }
      id
    }
    id
  }
}

fragment PriceAndRecommendation_Content on Content {
  __isContent: __typename
  createdAt
  companies {
    name
    pageUrl
    defaultInstrument {
      priceData {
        tradeCurrency
      }
      snapshot {
        priceData {
          date
          lastPrice
          tradeCurrency
        }
        transaction {
          date
          recommendation
          targetPrice
        }
        prevTransaction {
          recommendation
        }
      }
      id
    }
    id
  }
}

fragment PublishingDetails on Content {
  __isContent: __typename
  createdAt
  publishers {
    name
    imgUrl
  }
  authors {
    __typename
    id
    name
    slug
    imgUrl
    jobTitle
  }
  ... on Video {
    liveTime
  }
  ... on Webcast {
    liveTime
  }
}

fragment Reactions on Content {
  __isContent: __typename
  id
  reactionGroups {
    reactionType
    reactionsCount
    viewerReacted
  }
}

fragment ReportLink_Content on Content {
  __isContent: __typename
  type
  isPremium
  ... on CompanyReport {
    reportUrl
  }
  ... on ThirdPartyCompanyReport {
    reportUrl
  }
  ... on StockExchangeRelease {
    reportUrl
  }
}

fragment TrendingContent_1jQ2Cn on Query {
  trendingContent(type: ARTICLE) {
    __typename
    id
    title
    lang
    pageUrl
    createdAt
    type
    imgUrl
    companies {
      squareLogoUrl
      name
      id
    }
    authors {
      __typename
      imgUrl
      id
    }
    publishers {
      imgUrl
    }
  }
}


the-application-of-orava-residential-reit-plc-concerning-relisting-of-the-shares-of-the-company-has-been-provisionally-approved

__typename

title

isPremium

lang

htmlBody

summary

companies

createdAt

publishers

authors

reactionGroups

pageUrl

translations

imgUrl

description

Ovaro Kiinteistösijoitus focuses on real estate investments and in particular real estate development, primarily buying, developing and selling offices and land. Ovaro also owns and rents offices and apartments. The company operates in various parts of Finland, but focuses its operations on Finland's growth centers, i.e. university cities and the capital region.

Follow-up to previous: I did, however, end up selling my entire position. I couldn’t quite hold out until last week’s peak, but I still made about a 15% profit with about half a year of ownership. I will keep an eye on Ovaro and might buy the shares back if the price is attractive enough again.

The distribution of dividends would somewhat indicate that the company has a good outlook on its financial situation. Discussions have certainly taken place with financiers, and one would assume that new financings include some form of covenants based on solvency. I would assume that sales negotiations for current properties might be underway. If the company has an outlook that after events in the near future, it will have excess capital and no major new investment opportunities are in sight, then it is somewhat logical to distribute it to owners. This would allow the company to achieve a more targeted balance sheet position, enabling higher returns on equity. The company has commented that the buy-develop-sell model is intended to be operated in a capital-efficient manner and to rotate the balance sheet. If successful, there are opportunities to achieve good returns on equity, in which case P/B ratios should also rise, provided evidence of this begins to emerge. A share buyback would have been a good alternative, but it is quite slow.

I estimate the same. I would have preferred share buybacks. I assessed point b) the same way, so I reduced a reasonable portion from my modest position, even though I still consider Ovaro reasonably affordable. Let’s see if I can get the shares back cheaper.

The market clearly thought it was good news when the stock, which had been languishing for a long time, rose almost 7.5%, but… When the P/B ratio is as low as it is, buying back shares would have seemed to me a smarter way to distribute funds, if it was even necessary to distribute them at this stage instead of using them to pay down debt or keeping them as a reserve for new projects. This mainly reminds me of Investor House’s absurd stock surge based on dividend news in late summer, albeit on a smaller scale. Even though the stock I own to a moderate extent did rise now, I can’t really be happy when a) the company’s board made what I consider a foolish proposal and when b) the market reacted to it foolishly, in my opinion. Well, one could always lighten the ownership and buy, for example, Asuntosalkku or Kojamo instead… But perhaps I’ll still monitor the situation, as Ovaro isn’t expensive yet.

This is indeed very surprising. Ovaro just raised additional debt and is now distributing large extraordinary dividends. Why weren’t share buybacks continued? Perhaps this is then a sensible way for owners to return/release capital?

Here are Frans’s comments on how Ovaro is proposing quite a significant additional dividend.                    Inderes              Ovaron hallitus ehdottaa 0,36 euron lisäosinkoa (11 % osinkotuotto) - Inderes    Ovaro arvostetaan pörssissä 44 %:n alennuksella suhteessa sen nettovarallisuuteen, ja osingonjako onkin hyvä tapa vapauttaa piiloarvoa taseesta, kunhan yhtiön rahoitusasema sen kestää.

Hardworking night owl Frans has completed the company report on Ovaro after the Q3 releases.  Real estate development company Ovaro’s Q3 was slightly better than expected due to the positive development of net revenues and cost structure, even though development projects had not yet materialized as we anticipated. The market situation remains difficult, but development projects are progressing largely according to plan. The launch of the Kerava owner-occupied housing project next year appears increasingly likely, while the 17 MEUR student housing project agreed upon in Jyväskylä’s Kukkula project strengthens the overall picture of Kukkula. Updates we made to the timing of the project pipeline partly shift revenues to 2027, but our NAV estimate remained practically stable. With a low valuation (P/B 0.56x), strengthened financial position, and the potential of the project pipeline, we still see the risk/reward ratio as positive. We reiterate our target price of 3.70 euros and our Add recommendation.                   Inderes              Ovaro Q3'25: Asteittain eteenpäin - Inderes    Kiinteistökehitysyhtiö Ovaron Q3 oli nettotuottojen ja kulurakenteen myönteisen kehityksen ansiosta hieman odotuksia parempi, vaikka kehityshankkeita ei vielä realisoitunut odotustemme mukaisesti.

Ovaro Kiinteistösijoitus

Orava Residential REIT Plc Stock Exchange Release 20 September 2018 at 2:45 pm THE APPLICATION OF ORAVA RESIDENTIAL REIT PLC CONCERNING RELISTING OF THE SHARES OF THE COMPANY HAS BEEN PROVISIONALLY...

Orava Residential REIT Plc Stock Exchange Release 20 September 2018 at 2:45 pm THE APPLICATION OF ORAVA RESIDENTIAL REIT PLC CONCERNING RELISTING OF THE SHARES OF THE COMPANY HAS BEEN PROVISIONALLY APPROVED   This release may not be published or distributed directly or indirectly in the United States, Australia, Canada, Hong Kong, South Africa, Singapore, New Zealand, Japan or any other country where publication or distribution would be unlawful. The Extraordinary General Meeting of Orava Residential REIT Plc (hereinafter referred to as the “Company") resolved on 10 September 2018 to amend the Articles of Association of the Company as a result of which the Company no longer is a REIT and the Company's name changes to Ovaro Kiinteistösijoitus Oyj. In connection with making the Trade Register entry, the Company’s shares shall be delisted from the stock exchange as a listed REIT and relisted as a listed company in accordance with the Rules of Nasdaq Helsinki Ltd (“Helsinki Stock Exchange”). As announced by the Company on 17 September 2018, the Company filed on 17 September 2018 an application concerning the delisting and relisting of all its 9,598,910 shares to the Helsinki Stock Exchange. The Listing Committee of the Helsinki Stock Exchange has today approved the application concerning the delisting and relisting, on condition that the amendment of the Articles of Association will be registered in the Trade Register. The registration of the amendment of the Articles of Association is expected to be completed on 1 October 2018. Helsinki 20 September 2018 Orava Residential REIT plc Additional information Petri Roininen, Chairman of the Board, tel. +358 40 761 96 69 <img src="https://www.globenewswire.com/newsroom/ti?nf=MTAwMDA5OTg0MCM0MDAxODgxMjEjMjA5NDc2Mg==" width="1" height="1"/>