Unibail-Rodamco: Invest Securities confirms target

(CercleFinance.com) - URW has announced completing the sale of 54.
2% of a portfolio of five shopping centres for 2 billion euros.
URW will retain the remaining 45.8%.

Analysts believe that this arbitrage also confirms URW's ability to sell commercial assets despite the crisis and enables it to strengthen its balance sheet.

The broker adds that this announcement therefore loosens the stranglehold on the real estate company, even though its model includes an additional 2.6 billion of disposals between now and 2023 to maintain our adjusted LTV below 47% (i.e. a benchmark LTV of 40%) in the event of a 23% drop in the asset value, Invest Securities adds.

The broker confirms its buy rating on the share, maintaining its target price at 57.5 euros.


Copyright (c) 2020 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.