KLPEF - Take A Look At Klepierre For Overseas REIT Exposure

We have recently initiated a small long position in Klépierre (KLPEF). The company is arguably one of the largest, highest-quality REITs in Europe. Over the past 3+ years, Klépierre’s has lost about 1/3rd of its market capitalization, as a result of the shifting rhetoric of the European Central Bank (ECB) and the increasing penetration of e-commerce in retail. As a result, valuation has become increasingly attractive, and the company’s dividend profile makes it an interesting opportunity for income-focused investors.

Company background and description

Founded in 1990, Klépierre SA is Europe’s second-largest real estate