Igis Residence Reit이지스레지던스리츠

Igis Residence REIT trades near book value with high reported margins, but revenue and the share price have fallen sharply over the past year.

Igis Residence REIT is a Korean property trust earning rental income from residential and office assets in South Korea and student and residential housing in the United States. On trailing figures to H1 2026 it reports revenue of ₩12.2B...

What stands out

• Trailing revenue to H1 2026 is ₩12.2B, and operating income of ₩10.7B gives an 87.4% operating margin, versus ₩16.5B revenue for full-year 2025.
• Annual revenue fell about 20% in 2025 after a 0.4% rise in 2024, while the 2023 comparison shows a 69% drop, so top-line trends are uneven.
• Shares closed at ₩3,105, near the 52-week low of ₩3,065 and well below the high of ₩4,055; the one-year return is -21.5%.
• Price-to-book is about 0.4 and the dividend yield is 4.8%, but trailing return on equity is only 2.7%.
• Borrowings of ₩96.3B exceed cash of ₩18.1B, and liabilities are 32.3% of equity.
• The company held its annual general meeting in September 2026 and filed an amended annual report, and a 30%-or-more change in revenue or profit was reported in August 2026.

What to watch

• Next results and any further filings on revenue or profit changes, given the sharp fall in annual revenue.
• Whether the ₩96.3B of borrowings and any new borrowing filings affect cash flow and dividends.
• Price movement near the 52-week low; the data includes no analyst ratings or price targets, and no recent news headlines were available.