Vastned - Slight improvement in 9M operational figures
Vastned had a strong leasing activity and signed 67 new leases, representing EUR 14.3m of annual rents (18.3 % of theoretical rents).Occupancy increased to 98.8 % (up 60bps during Q3 and +100bps YoY).Vastned announced a disposal agreement for a small portfolio in Almelo for EUR 2.2m (9% below book value), as well as the previously announced divestment in Mons for EUR 0.3m (transaction to be closed in Q4 2023).Vastned reiterates guidance for FY 2023 Direct EPS ranging between EUR 1.95-2.05.We sustain our ‘Reduce' rating.VastNed Retail is a property investment company with variable capital, which makes long-term investments in individual retail properties, shopping centers and retail warehouses, primarily in the eurozone. Co. invests in individual retail trade properties at locations in The Netherlands, Spain, France, Belgium and Turkey. VastNed Offices/Industries N.V., specializes in offices, logistics centers and industrial premises at locations in The Netherlands, Belgium and northern France.
We are an investment house with Belgian roots founded on more than 150 years of trust.
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