They were resilient to the environment of the increase in the reference rates of the Bank of Mexico and the United States Federal Reserve.

Despite the volatility in global stock markets and a restrictive monetary policy by the Bank of Mexico and other central banks in the world, real estate investment trusts (Fibras) closed with an increase of 5.3% last July.

The S&P/BMV Fibras, the index that concentrates the 10 most liquid investment and real estate trusts in the market, broke the downward streak of the previous month, ending at 230.24 units and with a return higher than the S&P/BMV IPC, the Representative stock index of the Mexican Stock Exchange, which advanced 1.3 in the period.

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During this year, it has shown greater resilience to the environment when compared to the performance of the stock index, since it registered a decline of 0.71% against the 11.96% of the S&P/BMV IPC.

"The Fibra index has remained more defensive during this 2022 against the IPC," said Roberto Solano, Analysis Manager at Monex Casa de Bolsa.

The specialist explained that despite the increases in the reference interest rates of the Bank of Mexico (Banxico) and the Federal Reserve (FED) to contain the high inflation, the real estate fibers were winners in July.

The FED increased its reference interest rate by 75 basis points, so Banxico is expected to make a similar move at its next monetary policy meeting.

This has to do, in part, with the financial results for the second quarter of the year, which were positive, and with the estimated dividend growth line of around 19 percent.

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“The Fibras (Fibra Uno, Terrafina, Prologis, Danhos, Mty and Nova) reported a recovery in occupancy, with an average expansion of 100 basis points compared to the second quarter of 2021, to place it at an average level of 94.1%, but a superior dividend of 23.3%”, underlined the specialist.

With this scenario, he anticipated a prospect of better dividends in the remainder of 2022, which offset the issue of interest rates. The favorite Fibras are those that rent properties from the industrial sector, followed by the commercial sector.

In Solili you can consult industrial warehouses available in Monterrey, Guadalajara and Tijuana

Original note