Care Property Invest - In line Q1
Rental income reached EUR 17m, up +6.6% YoYOperating margin increased to 84.8%, compared to 80% in 2023, which was affected by one-off effectsEPRA profit amounted to EUR 9.9m, up 17.4% YoYEPRA NTA is stable at EUR 18.91Management reiterated its full-year earnings guidanceWe downgrade our rating from Buy to Hold on the back of the valuation and leave our target price unchanged at EUR 14.50.Care Property Invest NV. Care Property Invest NV, formerly Serviceflats Invest NV, is a Belgium-based real estate investment company that builds and finances housing for pensioners. The Company specializes in premises equipped with technologies ensuring safety and comfort of elderly people. In addition, Care Property Invest designs, builds, supervises the progress of a number of construction works, monitors the budget and finances projects in the long term. Care Property Invest NV cooperates mainly for public health care center in Antwerp -Openbaar Centrum voor Maatschappelijk Welziijn (OCMW), including Berchem. The Company focuses its activities on the Belgian market. It operates through a number of subsidiaries, such as Ter Bleuk NV, Siger SA and Konli BVBA and VSP Wolvertem bvba.
We are an investment house with Belgian roots founded on more than 150 years of trust.
As a private company owned by long-term committed shareholders, we are independent. Naturally and structurally. Our experts have the knowledge to think and act without bias, and to make decisions that benefit our clients. Today and tomorrow.
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