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.


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