Last week’s EPRA conference provided cautious optimism on listed European real estate. The segment offers a mix of risks and opportunities, with discounted valuations presenting attractive entry points. We downgrade Care Property Invest (Underperform vs Neutral, TP €12 vs €13.5); we lower our TPs for British Land, Landsec, Shurgard, and Xior Student Housing; we raise our TPs for URW, Wereldhave and VGP. In conclusion we favour logistics, retail, Spain, and CEE for growth, and Switzerland remains...
We recap the first half 2025 results for German real estate companies in our coverage, including Aroundtown (ARNDTN), Grand City Properties (GYCGR), LEG Immobilien (LEGGR) and Vonovia (ANNGR). Results were solid overall, with solid like-for-like rental income growth, which is set to continue due to the lagged effect of German rent regulations and favourable demand-supply dynamics. The transaction market has slowly improved, while valuations have finally turned positive. Leverage levels remain re...
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.