Report
Lynn Hautekeete

Eurocommercial Properties Let's go to the mall everybody

In this note we initiate coverage on Eurocommercial with a EUR 25.0 target price and an accumulate recommendation. Eurocommercial will have positive rent reversion and a flat cost of debt which results in a 2.5% EPS 3y CAGR. Eurocommercial trades at 9.1x spot EPRA EPS and 8.0% dividend yield while outperforming peers in terms of real estate KPI's. Therefore the current share price is undemanding.
Underlying
EUROCOMMERCIAL PROPERTIES NV

Provider
KBC Securities
KBC Securities

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Analysts
Lynn Hautekeete

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