Report

Gecina - Good performance continues in Q3

LfL rental income up +6.1% YoY, driven primarily by the indexation, rental reversion and occupancy rate increase. EUR 111m of additional disposals completed in Q3, with over EUR 1.1bn of assets sold to date. 2023 guidance reaffirmed at EUR 5.90 to EUR 6.00 (+6% to +8% YoY). We continue to be positive on the name, considering its solid balance sheet, strong asset rotation this year as well as solid performance of offices. 'Buy' rating reiterated.
Underlying
Gecina SA

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.

Provider
Degroof Petercam
Degroof Petercam

​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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