Irish Residential Properties REIT Plc (IRES.IR)

IRES earned nearly three times as much profit as a year ago, while its rental income barely budged.

What is going on right now?

The share price has climbed roughly 16% over the past month, sitting well above where it traded for most of the last year. The last week pulled back about 2%.

How is the business itself doing?

IRES rents out homes across Ireland. Revenue grew only about 1%, but profits jumped around 194%, mostly from costs falling or property values shifting rather than collecting much more rent.

What stands out?

The company's shares trade below the stated value of everything it owns, at about 91 cents for every euro of net assets.

What comes next?

Reports suggest the European Central Bank has flagged fiscal warnings that may push up borrowing costs for Irish property companies like IRES, which carries debt equal to about three quarters of its equity.