Gecina shares lost ground on the Paris Bourse on Thursday, despite the fact that the real estate company last night reported "record" rental activity for the 3rd quarter.

On a like-for-like basis, the real estate group's rents rose by 7.3% to a total of 496.9 million euros over the first nine months of the year, accelerating compared with 2022 (+2%).

On a like-for-like basis, the acceleration in performance exceeds that published for the end of 2022, with rents up by 6.1% overall, compared with +4.4% at the end of last year.

According to Berenberg's analysts, who are Buy on the stock, these good figures provide a solid base for the 2024 financial year.

It's a good thing that Gecina has concentrated in recent years on buildings in the center of Paris, enabling it to benefit from the relative shortage of modern, energy-efficient office space", explains the research firm.

We continue to be positive on the stock in view of its solid balance sheet structure, high asset turnover this year and the robust performance of its offices", add the teams at Degroof Petercam, who are also Buy on the stock.

Gecina also confirmed its forecast for net recurring earnings per share of between 5.9 and six euros in 2023, i.e. an increase of 6% to 8%.

Despite this solid publication, Gecina shares lost 0.9% on Thursday morning on the Paris Bourse. It has lost 3% since the beginning of the year.

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