I cannot remember when was the last time IREIT Global made an acquisition.
It was such a long time ago. So long that I forgot when. But fret not the management finally made an acquisition. This time they have acquired a portfolio of Spanish properties from Blackstone‘s Spanish REIT Corona Patrimonial.
Is this a good acquisition? Let us find out.
From my High Yield Dividend Stock Tracker, IREIT Global gives a 6.8% dividend yield.
That does not tell the whole story because they retained 10% of their income available for distribution (even though I could not detect why they retained it. Cash is the same, debt goes up).
Together with a rather low debt to asset, long debt to maturity of more than 6 years, very low cost of debt, I like to see how this acquisition can augment their portfolio. The black mark is that due
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