Gecina is a rental real estate company. Co.'s purpose is to operate individual rental properties or group of properties located mainly in France. Co.'s properties include commercial assets (offices and retail outlets), residential assets, logistics assets, hotels and healthcare facilities. Co. is organized around two main sectors and one ancillary segment: Economic sector comprising the commercial segment (offices and retail outlets), the portfolio of logistics properties and of hotel buildings; Demographic sector comprising traditional residential units (housing units property holding), portfolio of students residences and of healthcare facilities; Ancilary segment of real estate services.
  • TickerGFC
  • ISINFR0010040865
  • ExchangeEuronext Paris
  • SectorReal Estate Investment Trusts
  • CountryFrance
Emmanuel Matot

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 10/09/2020

The group has raised its COVID scenario twice, a clear indication that sales and margins are holding up well against the current health crisis. The second half of the year appears to point to stable sales l-f-l and we expect the group to return to more normative growth in 2021. The balance sheet is very healthy and acquisitions can be made. We are raising our rating to Buy from Neutral and lifting our target price to € 177 from € 160. - ...

Emmanuel Matot

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 09/10/2020

Le titre Scor a nettement sous-performé le secteur et ses grands concurrents depuis le début de l’année, compte tenu notamment de l’impact COVID sur la mortalité US et de l’abandon du dividende 2019. Or, le coût COVID reste maîtrisé et les perspectives de résultats et de dividendes favorables sur 2021/2022. Nous réitérons notre recommandation Achat avec un objectif de cours relevé à 33 € (vs 31 €). - ...

Florent Laroche-Joubert

ODDO : Paris region offices in Q3 2020: resilient central zones & market polarisation emerging

>Rental values relatively stable and immediate supply increasing - As expected, the Q3 2020 data from Immostat for offices in the Paris region confirm a resilient showing by central zones (mainly Paris itself) while the most peripheral zones were hit by the current wait-and-see stance of businesses in the worsening health situation. This momentum is characterised by:Rental values (excluding support measures) that are holding up in the most central zones and for n...

Dave Nicoski ...
  • Ross LaDuke

Vermilion Int'l Compass: Global Equity Strategy

After failing to break above resistance, global equities (MSCI ACWI) have had a rough start to the third quarter. Tuesday's 10-year low reading for September's US ISM manufacturing index further spooked investors and reignited global growth concerns. Continued weakness in global manufacturing and the US-EU tariff escalation raises the potential for a breakdown in global equities, however our outlook remains neutral as long as the MSCI ACWI remains confined to its horizontal range. • Prevailing trends continue for major indexes. Trends that began in March/April remain intact. That is, the MS...

Valérie GASTALDY

Short term view - GECINA : The background trend is clearly bearish.

The background trend is clearly bearish. The movement goes on. The next target is at €129.26, then €122.50. Passing €138.70 would question the continuation of the fall.

Valérie GASTALDY

Analyse court terme - GECINA : La tendance de fond est clairement orientée à la baisse.

La tendance de fond est clairement orientée à la baisse. Le mouvement se poursuit. Le prochain objectif est à 129,26 €, puis 122,50 €. Le franchissement de 138,70 € remettrait en cause la suite de la baisse.

Valérie GASTALDY

Analyse court terme - GECINA : Le mouvement se poursuit.

La tendance de fond est clairement orientée à la baisse. Le mouvement se poursuit. Le prochain objectif est à 129,26 €, puis 122,50 €. Le franchissement de 138,70 € remettrait en cause la suite de la baisse.

Valérie GASTALDY

Short term view - GECINA : The movement goes on.

The background trend is clearly bearish. The movement goes on. The next target is at €129.26, then €122.50. Passing €138.70 would question the continuation of the fall.

Florent Laroche-Joubert

ODDO : Paris region offices in Q3 2020: resilient central zones & market polarisation emerging

>Rental values relatively stable and immediate supply increasing - As expected, the Q3 2020 data from Immostat for offices in the Paris region confirm a resilient showing by central zones (mainly Paris itself) while the most peripheral zones were hit by the current wait-and-see stance of businesses in the worsening health situation. This momentum is characterised by:Rental values (excluding support measures) that are holding up in the most central zones and for n...

Florent Laroche-Joubert

ODDO : Bureaux franciliens au T3 2020 : des zones centrales résilientes & une polarisation du marché qui est en train de se dessiner

>Valeurs locatives relativement stables & offre immédiate en hausse - Comme attendu, les données Immostat du T3 2020 sur les bureaux en Ile de France (IDF), confirment la résilience des zones centrales (principalement la ville de Paris) alors que les zones les plus périphériques subissent l'attentisme actuel des entreprises dans le cadre d’un contexte sanitaire dégradé. Cette dynamique se traduit par :Des valeurs locatives (hors mesures d’accompagnement) qui rési...

MarketLine Department

Cofinimmo SA/NV - Strategy, SWOT and Corporate Finance Report

Summary Cofinimmo SA/NV - Strategy, SWOT and Corporate Finance Report, is a source of comprehensive company data and information. The report covers the company's structure, operation, SWOT analysis, product and service offerings and corporate actions, providing a 360˚ view of the company. Key Highlights Cofinimmo SA/NV (Cofinimmo) is a provider of real estate services. The company offers rental services for various properties such as offices and healthcare properties to clients in the public and private sectors. The company provides services including project management, renovations, redeco...

MarketLine Department

Deutsche Wohnen SE - Strategy, SWOT and Corporate Finance Report

Summary Deutsche Wohnen SE - Strategy, SWOT and Corporate Finance Report, is a source of comprehensive company data and information. The report covers the company's structure, operation, SWOT analysis, product and service offerings and corporate actions, providing a 360˚ view of the company. Key Highlights Deutsche Wohnen SE (Deutsche Wohnen) is a provider of real estate development and investment. It carries out residential and commercial property development activities in Germany. The company offers various asset management services such as modernization and maintenance, sales and leasing...

MarketLine Department

Nexity Sa - Mergers & Acquisitions (M&A), Partnerships & Alliances And Investments

Summary Marketline's Nexity Sa Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by Nexity Sa since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organization to sustain its competitive advantage. Key Highlights Th...

Expert Corporate Governance Service (ECGS)

Gecina – AGM 23 April 2020

ITEM 16: At the end of this meeting, subject to the approval of the appointment of Jérôme Brunel as director, the latter will be appointed Chairman of the Board to replace Bernard Carayon, who has reached the statutory age limit and will resign. We support the appointment of Mr. Brunel as Chairman of the Board. ITEMS 7 to 10 and 32: The 2019 and 2020 remuneration of the members of the Board, the Chairman and the CEO do not call for any particular comment on our part. However, we do not support resolution 32 related to the authorization to grant free shares as the proposed performance conditio...

Jehanne Leroy

Gecina - Aseemblée Générale Mixte du 23 avril 2020

Avis de convocation du 6 avril 2020 (-officiel.gouv.fr/balo/document/202004062000784-42) : le montant du dividende (résolution 4) est ramené de 5,60 € à 5,30 €. Gecina figure parmi les 1ères sociétés foncières françaises. Les revenus locatifs nets par type d'actifs se répartissent comme suit :  - bureaux et commerces (81,8%) ; - logements (14,2%) ; - résidences pour étudiants (2,3%) ; - autres (1,7%). A fin 2019, le patrimoine immobilier du groupe s'élève, en valeur de marché, à 20,1 MdsEUR répartis entre bureaux et commerces (82,2%), logements (17,1%) et autres (0,7%).  

Jehanne Leroy

Gecina, 17 Avril 2019

La communication de la société sur les éléments de rémunération attribuée à Méka Brunel est très bonne et permet à l’actionnaire de bien comprendre les montants attribués. De plus, la structure de la rémunération 2018 respecte la structure préconisée par Proxinvest. Enfin, les montants en jeu sont tout à fait acceptables. Cependant, l’un des critères des actions de performance attribuées au titre de 2018 n’est mesuré que sur 2,5 années, ce qui ne respecte ni la pratique de la place, ni nos préconisations. De plus, l’autre critère utilisé permet l’acquisition en cas de sous-performance (ce qui ...

Gecina - Assemblée générale des actionnaires du 17 avril 2019

Proxinvest publiera une étude analysant les résolutions proposées lors de la tenue de l’assemblée générale des actionnaires. Vous pouvez l'acquérir dès à présent et elle vous sera adressée par ResearchPool une fois publiée.

Gecina – Proxinvest Corporate Governance Rating ® : B

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

Gecina SA: Update to credit analysis

Our credit view of Gecina SA, reflecting the large size and good quality of its office portfolio, and its fully unencumbered asset base.

Moody's announces completion of a periodic review of ratings of Gecina SA

Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of Gecina SA. Global Credit Research- 22 Jun 2020. Stockholm, June 22, 2020-- Moody's Investors Service has completed a periodic review of the ratings of Gecina SA and other ratings that are associated with the same analytical unit.

Gecina SA: Key Facts and Statistics - LTM September 2019

A summary company profile, detailing Gecina S.A.’s business operations and financial highlights.

Moody's announces completion of a periodic review of ratings of Gecina SA

Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of Gecina SA. Global Credit Research- 16 Jul 2019. Stockholm, July 16, 2019-- Moody's Investors Service has completed a periodic review of the ratings of Gecina SA and other ratings that are associated with the same analytical unit.

Gecina SA: Updated discussion of key credit factors

Our credit view of Gecina, reflecting its large size and quality of its office portfolio, an improving property market outlook as well as a fully unencumbered asset base

Emmanuel Matot

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 10/09/2020

The group has raised its COVID scenario twice, a clear indication that sales and margins are holding up well against the current health crisis. The second half of the year appears to point to stable sales l-f-l and we expect the group to return to more normative growth in 2021. The balance sheet is very healthy and acquisitions can be made. We are raising our rating to Buy from Neutral and lifting our target price to € 177 from € 160. - ...

Emmanuel Matot

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 09/10/2020

Le titre Scor a nettement sous-performé le secteur et ses grands concurrents depuis le début de l’année, compte tenu notamment de l’impact COVID sur la mortalité US et de l’abandon du dividende 2019. Or, le coût COVID reste maîtrisé et les perspectives de résultats et de dividendes favorables sur 2021/2022. Nous réitérons notre recommandation Achat avec un objectif de cours relevé à 33 € (vs 31 €). - ...

Antoine Boivin-Champeaux ...
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 07/24/2020

The shock caused by the COVID-19 pandemic is much bigger than the previous impacts seen since the Bureau Veritas IPO (October 2007), whether from the financial crisis (2008-2009), the sudden drop in oil prices (2014-2015) or the trade war (2019). Q2 2020 results will show historically large organic declines (double digits in some cases) even though sector groups theoretically have resilient and diversified profiles. Eurofins and Bureau Veritas are our Top Picks. We downgrade Applus to...

GECINA sees an upgrade to Slightly Positive due to a better fundamental star rating

The general evaluation of GECINA (FR), a company active in the Real Estate Investment Trusts industry, has been upgraded by the independent financial analyst theScreener with the addition of a star. Its fundamental valuation now shows 4 out of 4 possible stars while its market behaviour can be considered as moderately risky. theScreener believes that the additional star(s) merits the upgrade of its general evaluation to Slightly Positive. As of the analysis date August 7, 2020, the closing price was EUR 115.90 and its potential was estimated at EUR 131.42.

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the we...

ResearchPool Subscriptions

Get the most out of your insights

Get in touch