GRAND CITY Properties S.A. : Lots of cash on the balance sheet to withstand COVID-19 and to go hunting
>We have updated our model and slightly trimmed our estimates - We have updated our model based on the information given during Grand City´s (GCP) Q1 2020 reporting in May. During its earnings reporting, the company slightly lowered its guidance FY 2020 for FFO I p/s after perpetual cost, amongst others, to a range of € 1.07-1.11 from € 1.11-1.15. This was due to its recently issued € 600m bond with a 1.7% coupon due 2024 as well as due to its finalised disposals in Q...Grand City Properties is a specialist real estate company based in Luxembourg. Co. is focused on investing in and managing turnaround opportunities in the German real estate property market. Co. is active in all relevant asset and property management activities along the real estate value chain from buying to redeveloping, managing and selling real estate properties. Co. also maintains a centralized 24/7 Service Center to coordinate and assure tenant satisfaction. Co.'s portfolio is located mainly in Berlin, North Rhine Westphalia, Dresden, Leipzig, Halle, Nuremberg, Munich, Mannheim, Frankfurt, Bremen and Hamburg.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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