Rents stood at EUR 91.6m, up +3.9% YoY and +4.1% on a LfL basis (+4.4 % of which is attributed to indexation). FFO stood at EUR 59.3m, up by +3.3% YoY and above FY24 target of at least +2.0% (EUR 0.63 on a per share basis, +3.0% vs H1 2023).Portfolio value increased 0.4% vs December end at EUR 2.88bn. 2024 FFOps guidance reiterated (at least 2.0% YoY), dividend at 75- 95% of the FFO.We lift our rating from ‘Hold' to ‘Buy' and set our new TP at EUR 13.50 (from Under Review).Mercialys hosts a conference call today at 8:30 CET.
