reports
- Christiana Armpounioti
- Stamatios Draziotis CFA
Trade Estates | Too low, too long; 2-digit total return, initiate with...
c13% average annual total annual return, c35% discount to NAV; Buy – Trade Estates (TE) is one of the largest real estate investment companies (REIC) in Greece with a portfolio of assets of c€0.5bn gross asset value (GAV). Having been created in 2021 after the demerger of Fourlis’s property assets, it got listed on the ATHEX in November 2023. Since then, the stock has been weighed down by a confluence of factors including the tightening policy rates cycle (peak rates in Q1’24) and the tepid appe...
- Christiana Armpounioti
- Stamatios Draziotis CFA
Trade Estates | Too low, too long; 2-digit total return, initiate with...
c13% average annual total annual return, c35% discount to NAV; Buy – Trade Estates (TE) is one of the largest real estate investment companies (REIC) in Greece with a portfolio of assets of c€0.5bn gross asset value (GAV). Having been created in 2021 after the demerger of Fourlis’s property assets, it got listed on the ATHEX in November 2023. Since then, the stock has been weighed down by a confluence of factors including the tightening policy rates cycle (peak rates in Q1’24) and the tepid appe...
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