WDP - Another quarter of steady performance
EPRA EPS up 12% YoY on the back of strong portfolio growth. LfL rental income +6% YoY driven primarily by the lease indexation. WDP expects a 5.5% LfL growth over 2023 (vs 5% previously).Portfolio saw a mild negative revaluation (-1% or -EUR 55.5m) in Q3, with EPRA NIY now at 5.3% (+10bps). EPRA NTA at EUR 19.6 (stable vs June end). EPRA NIY for Western Europe now stands at 4.89% (up 7bps vs June end).2023 guidance reiterated with EPRA EPS expected at EUR 1.40.The company hosts a ConfCall today at 10:00 CET. Hold.Warehouses De Pauw and its subsidiaries are engaged in investment in the Belgian semi-industrial property market. Co. is a closed-end property investment company which specializes in: development of storage and distribution premises; customized projects in line with the user's request; acquiring premises for customers who wish to engage in sale and leaseback transactions.
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