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19 Oct 2023
Gecina - Good performance continues in Q3
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Gecina - Good performance continues in Q3
LfL rental income up +6.1% YoY, driven primarily by the indexation, rental reversion and occupancy rate increase. EUR 111m of additional disposals completed in Q3, with over EUR 1.1bn of assets sold to date. 2023 guidance reaffirmed at EUR 5.90 to EUR 6.00 (+6% to +8% YoY). We continue to be positive on the name, considering its solid balance sheet, strong asset rotation this year as well as solid performance of offices. 'Buy' rating reiterated.