Report
Tony Sherlock
EUR 100.00 For Business Accounts Only

Little to Cheer About in Unibail’s Result and Outlook; Fair Value Estimate Declines to AUD 12.00

Unibail-Rodamco-Westfield reported 2019 earnings per security, or EPS, of EUR 12.92, a whisker above guidance. The negatives greatly outweighed the positives in the result and outlook. We’ve cut our rental growth outlook for all the retail assets and slightly raised rental outlook for the French office assets that are benefiting from low levels of vacancy. Given retail spending across Europe and the U.S. has been vastly buoyed by stimulatory interest rate settings, the eventual move up in intere...
Underlying
UNIBAIL-RODAMCO-WESTFIELD

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Tony Sherlock

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