KBC Securities - Warehouses De Pauw SCA (WDP) WDP: Model update: a fair price for a valuable asset

Report

KBC Securities

Joachim Vansanten

WDP: Model update: a fair price for a valuable asset

We updated our model following the 3Q20 results. We slightly upgrade our TP from € 29.0 to € 30.0 ps and reiterate our earlier Hold rating.

17/11/2020 1 EN

Underlying

Warehouses De Pauw SCA

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.

See profile

BE0003763779 Belgium

Provider

KBC Securities

We are a financial services provider for several types of professional clients, each with distinct needs.

See profile

Analysts

Joachim Vansanten

Other Reports on these Companies

SmartInsider

Warehouses De Pauw SA: 1 director

A director at Warehouses De Pauw SA bought 64,382 shares at 20.720EUR and the significance rating of the trade was 79/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names...

Free Trial

September 24, 2025 September 24, 2025 1 EN

Degroof Petercam

WDP - In-line Q1, portfolio seeing signs of stabilisation

Q1 property result stood at EUR 89.5m, up 9.6% YoY. LfL rental growth stood at 3.5%, driven primarily by lease indexation with -0.5% impact from increased vacancy. The reversionary potential on the existing portfolio stands at ca. 13%.Operating margin declined 290bps since December end to 88.6% as a result of G&A expenses increasing ca. 75% YoY and property charges being up 23.7% (rental income up 11.8%).Portfolio EPRA NIY remained flat at 5.3%, with portfolio witnessing a +EUR 26m revaluation (+0.4% QoQ) ‘Hold' rating reiterated on the back of demanding multiples.WDP reiterates its 2024 ...

April 19, 2024 April 19, 2024 1 EN

ING Financial Markets

Benelux Morning Notes

Belgian telecoms: Wyre reached 44k homes passed at end 2023, below 100k ambition. Corbion: A long time coming. DWS: Promises, promises. PostNL: Preliminary 4Q23 - profit warning on weaker parcel volumes and fixed capacity. Signify: 4Q23 Results - weak top line, margins protected. WDP: 2024-27 ambitions revealed

January 26, 2024 January 26, 2024 1 EN

Morning Notes : SEQUA BB

: SEQUA BB

11h / 28m 11h / 28m 1 EN

Mathijs Geerts Danau

Mathijs Geerts Danau

Sequana Medical New DSR patent improves value of program

Sequana announces granting of a key additional methods and formulation patent for DSR. This patent increases durability and expands protection of Sequana's DSR IP, thereby improving its value. We note that the patent provides additional time for Sequana to secure dedicated financing to advance DSR toward the randomized controlled portion of the MOJAVE clinical study. We reiterate our BUY rating.

11h / 34m 11h / 34m 1 EN

Michiel Declercq

Michiel Declercq

Colruyt 1H25/26 disappoints, outlook reiterated, but with caution

Although Colruyt already flagged during the AGM that the operating result in 1H25/26 would be lower, the -15.8% EBIT decline in 1H25/26 to € 213m came in below our estimates (kbcse: € 230m). While Colruyt still banks on a stable operating result and net profit for FY25/26, the group did highlight that the situation has become more complicated following the ongoing price and promo pressure, increased Sunday openings, abolition of the mandatory closing day and uneven level playing field in labour costs. As we believe it will be no easy task to achieve the outlook, we lower our TP from €41 to €38...

December 17, 2025 December 17, 2025 1 EN

Sign-up for free to access full reports immediately

Email Address*

Choose Password* ( 6 or more characters )

Due to regulatory restrictions regarding the distribution of financial research, this report is restricted to a specific region or investor type. Get access to exclusive reports by answering the questions below.

Select your country*

Get financial insights straight to your inbox

By clicking "register" you accept the Terms and Conditions & Privacy Policy

Already on ResearchPool?

Almost there...

Are you a professional investor?

Select your country

REGISTER

Create a free ResearchPool account to access full reports, get a personalised dashboard and follow providers or companies

In order to access this report please create an account.

LOGIN