MRL: Good set of 3Q18 results
Merlin Properties’ 3Q18 results were in line with our estimates, showing an improvement in both P&L and FFO. The occupancy rate increased by 130b.p. QoQ to 93.4% in 3Q18 (Office +70b.p. QoQ to 88.6%, shopping malls +230b.p. QoQ to 90.5%, and logistic +80b.p. QoQ to 98.2%).
Merlin Properties SOCIMI SA is a Spain-based company engaged in the operation of a real estate investment trust (REIT). The Company focuses on the acquisition, management and rental of commercial properties located in the Iberian Peninsula, primarily in Spain. The Company's activities are divided into the following segments: Office buildings, operating a portfolio of office space; High-street retail, engaged in leasing retail stores; Shopping centers, engaged in managing department stores; Logistics, operating logistics warehouses and distribution centers, and Others. The Company's other activities include property management services rendered to third parties.
Bankinter S.A. is a Spanish brokerage firm established in 1989. The company's line of business includes the provision of market research and trading services for Equity and Fixed Income products.
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