UNBLF News and Press, Unibail-Rodamco Se From 02/10/23

Summary Unibail-Rodamco-Westfield delivered solid results for its fiscal year 2022, marking an almost complete recovery from the impact of Covid. Earnings and EBITDA grew considerably compared to 2021, occupancy continues to improve, and leasing remains healthy with positive spreads. ...

Paris, Amsterdam, February 9, 2023 Press release UNIBAIL-RODAMCO-WESTFIELD REPORTS FY -202 2 EARNINGS Adjusted Recurring EPS of € 9.31 up 34.7 % vs . 2021 thanks ...

Summary Unibail is making progress with its asset disposals. Assets are sold at smaller than expected discounts (and in some cases even a premium). Despite a higher average interest rate, I expect Unibail to report earnings north of 6 EUR per share in 2024. Perhaps even higher as Un...

Unibail-Rodamco-Westfield ( OTCPK:UNBLF ) has completed the sale of The Village, an outdoor lifestyle destination in the San Fernando Valley of Los Angeles, to the Kroenke Organization for $325M. The sale price reflects an initial yield of 5.6% on the in-place Net Opera...

Summary UNBLF's AREPS forecast is up to at least 9.1 EUR/share. Occupancy flat Q/Q at 93.1%. Despite disposals, I think an AREPS of around 9 EUR/share is achievable for 2023 as well, unless the company prioritizes a lower loan-to-value (LTV). Company may choose to keep a highe...

Summary Tenant sales are now above 2019 levels, showing the company has mostly recovered from the Covid period. Minimum Guaranteed Rent uplift year-to-date is +5.6% confirming there is still good appetite and willingness to pay for space at Unibail's properties. Shares are tra...

Summary The death of the mall has been greatly exaggerated and this presents a rare opportunity for contrarian investors. Class A malls have been extremely resilient, quickly recovering from the Covid crisis and so far showing good results despite the increased economic uncertaint...

Summary After showing renewed signs of life following a solid earnings season, Mall REITs are again the worst-performing major property sector in 2022 as recession concerns have offset modestly-improving fundamentals. A microcosm of broader macroeconomic trends, mall sector dynami...

Unibail-Rodamco-Westfield ( OTCPK:UNBLF ) announces the sale of Westfield Santa Anita in Arcadia, California, to an established commercial real estate investor who owns other retail assets in Southern California for $537.5M. The sale is funded by the investor through a co...

Unibail-Rodamco-Westfield just reported a very strong first half of 2022. Lease renewals are seeing a positive uplift. Minimum guaranteed rent for all deals signed was +2.7%, and +11.8% for longer duration deals. Occupancy continues to improve for the company, particularly in the ...