Retail Estates - Solid Q1 results
Q1 results closed end June; EPRA EPS was up 13.7% YoY to EUR 1.58 on the back of the higher number of shares in issue. Net rental income up 14% YoY.Portfolio value increased slightly (+0.3%) vs March end at EUR 1,895m.Full year DPS guidance reiterated at EUR 5.00 (+2% YoY, or +6.4% excl. the FBI regime tax refund obtained last year).The company continues to trade at attractive multiples (8.9x PE 24e) vs peers, offering an 8.8% dividend yield. The defensive profile of the company, coupled with solid indexation feeding through (FY22/23 indexation passed on to tenants stood at 9% inRetail Estates is a niche fixed-capital real estate investment fund that invests in retail properties located on the periphery of residential areas or along access roads to urban centers. Co. buys properties from third parties or builds and markets shop premises for its own account. The outlets have a built on surface areas of between 500m2 and 3,000m2. A typical retail property has an average surface area of 1,000m2. As of Mar 2010 Co. had 399 premises in its portfolio. The retail lettable area amounted to 398,754m2.
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.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.