Geopolitical risk has resurfaced, but the nearterm impact on European listed real estate remains contained. Rising energydriven inflation and rates are driving greater dispersion and sharpening the focus on balancesheet quality, while MIPIM 2026 highlighted a pragmatic investor approach. In this report, we adjust target prices and refresh our top picks, removing CTP and adding Irish Residential REIT. Geopolitics and energy: duration matters more than headlines
Ahold Delhaize: Peer Kroger 4Q25 results. bpost: 4Q25/FY25 result in line, no dividend, FY26 outlook in line, assumptions optimistic. Eurocommercial Properties: Cautious guidance despite Swedish acquisition. Sligro: Feedback from group CMD. Universal Music Group: In line clean EBITDA, FCF below, US listing shelved
Eurocommercial reports results -1,7% below our EPRA EPS expectations and the visible alpha CSS on higher than expected investment and interest expenses. The investment expenses are likely related to the € 110,0m Swedish acquisition announced this week. The operational metrics improved materially on all fronts vs 3Q25: collection rate, OCR, Vacancy. Momentum continued in January 2026 as total retail sales were up +6,5% YoY. Over FY25 the portfolio valuation increased by +1,9% driven by higher NO...
Unfortunately, this report is not available for the investor type or country you selected.
Report is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.