Report
Florent Laroche-Joubert

Unibail-Rodamco-Westfield : Potential reflecting the historically low valuation

>Positive impact from the Ile de France region being declared a green zone - We believe that URW is likely to be one of the main retail property groups that will see the biggest positive impact from the announcements yesterday evening by the President of the Republic. The food & beverages sector represents 15% of rents at URW and the reopening of restaurant interiors (keeping a minimum distance between tables) will restore the appeal of its shopping centres in the Ile...
Underlying
Unibail-Rodamco-Westfield SE Stapled Secs Cons of 1 Sh Unibail Rodamco + 1 Sh WFD Unib Rod

Unibail-Rodamco is a commercial property operator, investor and developer. Co. is operationally organized in six geographical regions: France, Spain, Central Europe, Austria, the Nordics and The Netherlands. Its activities are divided into three business lines or segments: Shopping Centres, Offices and Convention & Exhibition. Co.'s Shopping Centres segment focuses primarily on the retail sector; the Offices segment takes care of office assets that are mainly located in the Parisian Central Business District; and the Convention-Exhibitions segment consists of a real estate venues and operations organization, and trade show organization.

Provider
Oddo BHF
Oddo BHF

​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.

Analysts
Florent Laroche-Joubert

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