2024-03-14 05:32:56 ET
Summary
- Gecina is ranked 1st among European listed real estate companies with an A-rated credit grade and a well-covered yield.
- The company has strong operational safety, operates in safe geographies, and has good leverage and access to capital markets.
- Gecina is a Parisian REIT that has underperformed the market but has a strong execution, positive operational performance, and good financial achievements.
Dear subscribers,
My results since investing in Gecina ( GECFF ) have been less than positive. Am I worried about the company fundamentals or the abilities of this undervalued Parisian real estate company with strong institutional investors and a stable financial position?
I am not.
Gecina is ranked 1st out of all 100 European listed Real Estate companies and has an A-rated credit grade and a well-covered yield. I cover Icade as well, and recently wrote an updated article about it. The entire European RE sector is currently feeling the impacts of not only the interest rate environment, but also refinancing spreads and cash yields in the 2024-2026 period. We're coming out of a veritable sugar-high in interest rates, which is very likely to cause a massive sort of hangover for the companies that are not well-prepared for such an event....
Read the full article on Seeking Alpha
For further details see:
Gecina: The 'Other' French REIT With An Upside