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

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.

Gecina: 1 director bought

A director at Gecina bought 30,000 shares at 114.175EUR and the significance rating of the trade was 67/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of board memb...

Benoît Faure-Jarrosson ...
  • Bruno Duclos
  • Stéphane Afonso
  • Vladimir Minot

INVEST SECURITIES - GECINA : L'impact de la crise sanitaire ne sera visible que plus tard - NEUTRE, OC 117€

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 MSCI...

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.

Gecina: 1 director bought

A director at Gecina bought 30,000 shares at 114.175EUR and the significance rating of the trade was 67/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of board memb...

Benoît Faure-Jarrosson ...
  • Bruno Duclos
  • Stéphane Afonso
  • Vladimir Minot

INVEST SECURITIES - GECINA : L'impact de la crise sanitaire ne sera visible que plus tard - NEUTRE, OC 117€

Florent Laroche-Joubert

Gecina : Very strong resilience and course set in line with our expectations!

>A very good operating performance in a challenging environment - Taking advantage of the scarcity of its assets, Gecina posted a solid operating performance in H1 2020. Recurring net profit came to € 2.94 per share (-0.7% y-o-y), in line with our estimates. In detail, growth at constant scope came to +2.9% driven by: 1/ indexation of +1.9% and; 2/ positive rental reversion: In offices (82% of assets), growth at constant scope was +3.6% thanks to indexation up 2....

Florent Laroche-Joubert

Gecina : Une très forte résilience & un cap en ligne avec nos attentes !

>Une très bonne performance opérationnelle dans un contexte difficile - Bénéficiant de l’effet de rareté de son patrimoine, Gecina enregistre une performance opérationnelle solide sur le S1 2020. Le Résultat Net Récurrent s’élève à 2.94 € / action (-0.7% yoy), en ligne avec nos attentes. Dans le détail, la croissance à périmètre constant (pc) ressort à +2.9% portée par 1/ une indexation à +1.9% et 2/ une réversion locative positive : Sur les bureaux (82% du patr...

Alexandre Iatrides ...
  • Charles Lepetitpas
  • Florent Laroche-Joubert
  • Jean-François Granjon
  • Johanna Jourdain
  • Martial Descoutures
  • Matthias Desmarais
  • Nicolas David
  • Sebastien Malafosse
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 07/08/2020

We are initiating coverage of Phoenix with a Buy recommendation and a target price of 775 pence. Phoenix Group is the UK’s leading life and pension consolidator and is poised to finalise the acquisition of its main competitor, ReAssure, in the coming weeks. It boasts rigorous management of its capital, with significant cash generation and an attractive shareholder return. Cf. company report published today. - ...

Alexandre Iatrides ...
  • Charles Lepetitpas
  • Florent Laroche-Joubert
  • Jean-François Granjon
  • Johanna Jourdain
  • Martial Descoutures
  • Matthias Desmarais
  • Nicolas David
  • Sebastien Malafosse
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 08/07/2020

Nous initions la couverture de Phoenix avec une recommandation à l’Achat et un objectif de cours de 775 pence. Phoenix Group est le leader de la consolidation de portefeuilles d’assurance vie au Royaume-Uni et doit finaliser l’acquisition de son principal concurrent ReAssure dans les prochaines semaines. Il a une gestion rigoureuse de son capital avec une génération importante de cash-flow et un rendement attractif pour les actionnaires. Cf. étude publiée hier soir. - ...

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

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...

Antoine Boivin-Champeaux ...
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 24/07/2020

Le choc du COVID-19 dépasse largement les précédents impacts négatifs rencontrés depuis l’introduction en Bourse de Bureau Veritas (octobre 2007), que ce soit la crise financière (2008-2009), la chute brutale du cours du pétrole (2014-2015) ou la guerre commerciale (2019). Ces T2 2020 auront un caractère historique par l’ampleur de leur régression organique (à deux chiffres parfois) malgré des profils théoriquement résilients et diversifiés. Eurofins et Bureau Veritas sont nos valeurs...

Antoine Boivin-Champeaux ...
  • Florent Laroche-Joubert
  • Jean Danjou
  • Johanna Jourdain
  • Louis Boujard, CFA
  • Matthias Desmarais
  • Philippe Ourpatian
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 07/01/2020

Q2 is expected to be the low point for the IT services market (-6% estimated) before a gradual recovery Although H2 should remain in negative territory (-3/-4%), this upturn should trigger a re-rating in the sector, which is currently trading at a historically steep discount (-34%). We favour value stocks in IT services (Atos, Sopra Steria and Devoteam) and are steering clear of engineering services. - ...

Antoine Boivin-Champeaux ...
  • Florent Laroche-Joubert
  • Jean Danjou
  • Johanna Jourdain
  • Louis Boujard, CFA
  • Matthias Desmarais
  • Philippe Ourpatian
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 01/07/2020

Le T2 sera le point bas du marché IT Services (-6%e) avant une recovery progressive. Bien que le S2 devrait rester en territoire négatif (-3/-4%e), cette inflexion va permettre d’enclencher le rerating du secteur, qui se traite aujourd’hui avec une décote historiquement haute (-34%). Nous privilégions les acteurs value des Services IT (Atos, Sopra Steria et Devoteam) et restons à l’écart de l’Engineering Services. - ...

Alain William ...
  • Alexandre Iatrides
  • Charles Lepetitpas
  • Florent Laroche-Joubert
  • Jerôme Bodin
  • Nicolas David

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 06/16/2020

We reiterate our Buy recommendation on Bolloré, with a revised target price of € 3.8, reflecting upside of 38%. Despite poor visibility, we expect EBITA for Bolloré Transport & Logistics' EBITA to grow solidly as a result of robust growth in the ports business and also tight control of costs (fall in investments). A simplification operation, to increase the stake in Vivendi in the coming quarters, still seems plausible, in our view. - Cf. company report published today. - ...

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 week...

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...

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