Moody's Ratings (Moody's) has today placed on review for downgrade the Ba1 long-term corporate family rating (CFR), Ba3 junior subordinated rating of Citycon OYJ ("Citycon") and concurrently the backed senior unsecured MTN program rating rated (P)Ba1 and the Ba1 rated backed senior unsecured bonds...
Moody's Ratings (Moody's) has today affirmed the long term corporate family rating (CFR) of Ba1 for Citycon OYJ ("Citycon") and its junior subordinated notes at Ba3. The backed senior unsecured MTN programme of (P)Ba1 and the backed senior unsecured bonds of Ba1 of Citycon Treasury B.V. have also be...
Moody's Ratings has completed a periodic review of the ratings of Citycon OYJ and other ratings that are associated with this issuer. The review was conducted through a rating committee held on 21 March 2024 in which Moody's reassessed the appropriateness of the ratings in the context of the releva...
A director at Citycon Oyj sold 15,000 shares at 5.288EUR and the significance rating of the trade was 71/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly show...
Moody's Investors Service (Moody's) has today assigned a new long term corporate family rating (CFR) of Ba1 to Citycon OYJ ("Citycon") and subsequently downgraded its junior subordinated notes to Ba3 from Ba2 and concurrently downgraded the backed senior unsecured MTN programme to (P)Ba1 from (P)B...
Moody's Investors Service ("Moody's") has today affirmed the Baa3 long-term issuer rating and Ba2 junior subordinated rating of Citycon OYJ ("Citycon") and concurrently the backed senior unsecured MTN programme rated (P)Baa3 and the Baa3 rated backed senior unsecured bonds of Citycon Treasury B.V., ...
SBB acquired five properties in Denmark, KMC carried out a direct placement of NOK300m, Kungsleden announced a new rental contract and development project, Wihlborgs announced a new lease, while Skanska updated its climate target. The weighted average implied EBITDA yields on the stocks we cover are 3.30% for 2021e and 3.64% for 2022e.
This week, we upgraded Fabege to BUY following its first office letting in Flemingsberg, and we shifted coverage from Klövern (delisted due to merger) to Corem, for which we have a HOLD. SBB hosted a CMD, while Atrium Ljungberg hired a new CFO. Next week, DNB Markets is set to host real estate events. The weighted-average implied EBITDA yields on the stocks we cover are 3.30 % for 2021e and 3.59 % for 2022e.
This week, we raised our target price on Castellum after it acquired more Entra shares and issued its hybrid bond. Wrapping up Q2 results season, Aros Bostad’s POC-based net income was in line with our estimate. Magnolia Bostad will be delisted on 17 September. Finally, next week we host several real estate investor events. The weighted-average implied EBITDA yields on the stocks we cover are 3.16% for 2021e and 3.43% for 2022e.
KMC Properties and Hufvudstaden reported their Q2 results. Castellum bought an additional 11.75% of the shares in Entra after issuing a EUR1bn hybrid bond earlier this week. Atrium Ljungberg CFO Lindqvist is leaving with immediate effect, while Liia Nõu was appointed the new CEO of Pandox. The weighted-average implied EBITDA yields on the stocks we cover are 2.98% for 2021e and 3.28% for 2022e.
Kojamo was the only real estate company in the sector to report Q2 results this week. Entra refinanced a bond, but conducted a bond buyback and new bond issue. SBB Norden’s CEO Ilija Batljan bought 1m shares in the company, and a date was set for its CMD. Corem initiated a compulsory acquisition of minority shares in Klövern. Fabege announced a new land allocation in Hammarby Sjöstad. The weighted-average implied EBITDA yields on the stocks we cover are 3.04% for 2021e and 3.13% for 2022e.
Castellum launched a bid for Kungsleden, while Citycon and Olav Thon reported Q2 results. This week, Norwegian Property also announced the date for its delisting, and Norwegian house prices appear to be stabilising. The weighted-average implied EBITDA yields on the stocks we cover are 2.96% for 2021e and 3.25% for 2022e.
Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
Wihlborgs announced a lease with the Human Rights Institute. NPRO continues to head towards a delisting. Swedish house price statistics for June were reported and Corem is moving towards a large-cap listing. The weighted-average implied EBITDA yields on the stocks we cover are 3.04 % for 2021e and 3.33 % for 2022e.
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