Gecina benefited from positive trends in the office market in Paris and favourable funding conditions (targeting LTV below 40%). Rental activity was supported by the lack of available spaces (in Paris mostly, where 89% of Gecina’s portfolio is located). Management raised its earnings guidance to +8% (vs. +6% previously) growth in recurrent EPS and an organic growth of +2% for offices (as estimated in our model). We stick to our earlier positive stance on the stock.
25 Jul 2018
Double focus on Parisian and Residential properties
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Double focus on Parisian and Residential properties
Gecina SA (GFC:WBO) | 0 0 2.8% | Mkt Cap: 11,480m
- Published:
25 Jul 2018 -
Author:
Zeineb SAHNOUN -
Pages:
3
Gecina benefited from positive trends in the office market in Paris and favourable funding conditions (targeting LTV below 40%). Rental activity was supported by the lack of available spaces (in Paris mostly, where 89% of Gecina’s portfolio is located). Management raised its earnings guidance to +8% (vs. +6% previously) growth in recurrent EPS and an organic growth of +2% for offices (as estimated in our model). We stick to our earlier positive stance on the stock.