Investors House issued a positive earnings warning a day before its Q1’2018 interim report. What are your thoughts on the company as an investment? The company’s business operations have changed quite radically. (From a real estate company to an investment company) https://www.inderes.fi/tiedotteet/investors-house-oyj-positiivinen-tulosvaroitus
The company’s webcast can be found here. LIVE starts tomorrow around 13:00. Investors House osavuosikatsaus Q1 2018 webcast - 25.5.2018 13:00 - Inderes
A competitor to the Investors House platform ;D http://www.sijoitusasunnot.com/
Is there still time to buy today to get Ovaro?
Hey. Ovaro dividend was distributed today and the record date is tomorrow. More Ovaro is expected to be distributed in Q1. So you can still join the continuations.
The notice of the Annual General Meeting arrived. A dividend of €0.25 will be distributed in two installments. Now €0.13, and the Board of Directors is authorized to decide on the remaining €0.12 later. Sounds good to me.
"The Board of Directors proposes that the profit for the financial year 2019 be added to the accrued retained earnings, and that a dividend of EUR 0.13 per share be distributed from the retained earnings based on the balance sheet confirmed by the Annual General Meeting on 31 December 2019, meaning a total maximum dividend of EUR 778,470.16 will be distributed based on the number of shares outstanding on the date of the Annual General Meeting notice. The record date for dividend payment is 30 April 2020. The Board of Directors proposes to the Annual General Meeting that the dividend be paid starting from 8 May 2020.
Additionally, the Board of Directors proposes that the Annual General Meeting authorize the Board of Directors to decide on an additional dividend per share of a maximum of EUR 0.12 from retained earnings, with the authorization valid until 31 December 2020."
Nothing has been heard about the distribution of Ovaro’s (Ovarojen) assets. Did the corona (Korona) and the drop in Ovaro’s (Ovaron) share price disrupt the plans? Fortunately, share repurchases have continued at least until April 6.
Thanks to Jesse for the company update and the CEO’s interview.
The Q1 earnings disappointment sent the stock price back near its worst lows during the COVID crisis. It has traded as low as 4.82 euros today 
. As long as Ovaro isn’t sold or distributed as a dividend, small investors probably won’t have the courage to buy Investors House either.
Could @Yu_Gong change the thread title to something like “Investors House”? There don’t seem to be any other IH threads started, and that webcast reference is 2 years old.
Of course! I’ll change the title to something better 
Couldn’t we continue with the share repurchases now?
P / EPRA NAV is now around 0.6. I think we could continue buying until P / EPRA NAV is 0.8?
Didn’t have to wait long…
Good that they’re continuing! The buybacks started in March only got off to a slow start, as the average daily trading volume is so low. Now, over three months, 0.8% of the share capital will be bought back. Not a very ambitious program, but from small streams…
"Investors House’s board of directors has decided to acquire a maximum of 50,000 of its own shares, which is approximately 0.8% of the total share capital. The shares will be acquired in public trading organized by Nasdaq Helsinki at the market price at the time of acquisition.
The acquisition of own shares will commence no earlier than May 27, 2020, and will end on August 24, 2020, or when the maximum number has been reached."
Some good news. “Investors House has increased its ownership in the fund management company from 67% to 100%. The total purchase price for the acquired shares is approximately €0.9 million. Increasing ownership will slightly increase Investors House’s operating profit in 2020.”
https://www.inderes.fi/fi/tiedotteet/investors-house-nostaa-omistusosuuden-rahastoyhtiossaan-100-iin
IH’s stock price has not gained momentum despite continuous share buybacks and a general market upturn. Nor has it been helped by the fact that Ovaro’s stock price has risen by over 20% in the last month. IH’s stock price has been more or less flat over the last month. Could there now be demand for this stock, as many of the company’s underlying drivers are improving?
There will probably be demand when Jesse raises the target price to match IH’s historical valuation multiples, which means a target price of around 7 euros. Right now, the target price is clearly below that?
This was a good deal, improves profitability.
This stock was one of my first investments when I started in late 2017. My first purchases were made at the peak of the course, just under €8. I lowered the average price a bit during COVID. After dividends, we’re pretty much at a break-even point. The CEO’s convincing presentation and large ownership have convinced me to stay on board 
Have I missed something 
I believe that a weaker-than-expected Q1 result has been one reason for the stagnant share price. Secondly, at the time of the earnings release, no encouraging comments were dared to be given about Q2’s development. Thirdly, Ovaros are still under IH’s ownership, creating uncertainty. Fourthly, special investment funds (e.g., hotel properties fund including Scandic, Rauma Hovi, if I remember correctly) might have a weak Q2 IF rents have had to be compromised.
And furthermore, the company is barely on anyone’s radar. Inderes fortunately follows this 
, but the target price is currently, in my opinion, well below fair value or the sum of parts (as of 8.6.2020). It would be interesting to know at what point Jesse considers the effects of recent economic recovery, the purchase of the remaining DH share capital, and Ovaro’s share price increase on IH’s target price.
I calculated that at the current pace of share repurchases, IH can continue buying until the earnings report (or until the start of the quiet period?), if the buying pace remains around 700 shares per day. That should eventually have a positive effect on the share price.
On a related note, Scandic has announced it will cease operations at Ikaalinen Spa when its lease agreement ends in late autumn. The decision is not due to the coronavirus but, among other things, the property’s investment needs. The properties are owned by Investors House (apparently through that fund). I don’t know what kind of dent it will make in the fund’s returns if it remains empty, probably not significant.
Well, thanks for the info. It’s not good for IH that the Ikaalinen spa is likely facing renovation.
IH bought on Monday, what are your thoughts? The stock is still very cheap and there’s room for growth.
Today, a nice upward correction in the exchange rate. 
https://www.inderes.fi/fi/tiedotteet/investors-house-tavoittelee-nousevia-osinkoja-mahdollistavaa-kannattavuuskehitysta
Nothing special in the new strategy to my eye, but it’s great that the company highlights owner value creation so well.
@Matias_Arola, yesterday Ovaro announced the acquisition of its own shares and today Investor House announced the distribution of funds as Ovaro shares and is evaluating other divestment methods.
Is there a possibility that IH sells some of its shares directly to Ovaro? Is such a transaction possible according to stock exchange rules?