FII Indicators: P/BV, Dividend Yield, Vacancy, and More

1. P/BV (Price / Book Value) - Compares share price with net asset value per share - P/BV < 1.0: share at a "discount" (may be an opportunity) - P/BV = 1.0: fair price relative to assets - P/BV > 1.0: share at a "premium" - Caution: low P/BV may indicate problems

2. Dividend Yield (DY) - How much the fund pays in dividends relative to price - Monthly DY: dividend/share ÷ share price - Annual DY: sum of last 12 months ÷ current price - Compare with Selic rate and CDI to assess attractiveness

3. Vacancy - Percentage of unoccupied properties (only for brick FIIs) - Physical vacancy: unoccupied area - Financial vacancy: lost revenue vs potential - Lower is better (ideal: <5%)

4. Cap Rate - Annual return on property value - Cap Rate = Annual income / Property value - Allows comparing FIIs with physical real estate

5. Liquidity - Daily trading volume on B3 - Above R$1M/day: good liquidity - Below R$500K/day: may have difficulty selling