Unibail-Rodamco-Westfield : A high-quality portfolio but major challenges in the short and medium term
>The best portfolio but investor trust has to be re-earned - URW boasts the finest portfolio of shopping centre assets but must regain the trust of investors:The Westfield deal, which was presented as being accretive until the publication of 2018 full-year results, is in the end dilutive in the short term (2019 AREPS expected to be € 12.10-12.30 vs € 12.92 in 2018) half-way through the disposal plan.Some investors doubt whether URW will be able to pay a div...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.
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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