Covivio: trading update welcomed by Invest Securities
(CercleFinance.com) - Invest Securities has maintained its 'buy' recommendation on Covivio shares, with a E57.
1 target price, following the property company's announcement of figures uniformly improved compared with H1 2024.
The average office occupancy rate has risen again (95.6%, +110bp over nine months), leading to an increase in like-for-like rents of +8.3%, 440 bp above indexation, it points out.
Hotel revenues (+7.1% LFL) and German residential revenues (+4.2% LFL) are also excellent, the analyst adds, pointing to a context of stabilising values that reassures us about the property company's balance sheet situation.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.
1 target price, following the property company's announcement of figures uniformly improved compared with H1 2024.
The average office occupancy rate has risen again (95.6%, +110bp over nine months), leading to an increase in like-for-like rents of +8.3%, 440 bp above indexation, it points out.
Hotel revenues (+7.1% LFL) and German residential revenues (+4.2% LFL) are also excellent, the analyst adds, pointing to a context of stabilising values that reassures us about the property company's balance sheet situation.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.