URW – Citi rates the stock as Sell
Sell maintained. Target rises to EUR27.70 from EUR21.20.
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Unibail-rodamco-westfield
Unibail-Rodamco-Westfield is the premier global developer and operator of flagship destinations, with a portfolio valued at €65.0 Bn as at June 30, 2019, of which 86% in retail, 7% in offices, 5% in convention & exhibition venues and 2% in services. Currently, we own and operate 92 shopping centres, including 55 flagships in the most dynamic cities in Europe and the United States. Present on 2 continents and in 12 countries, our centres welcome 1.2 billion visits per year. We have a development pipeline of €10.3 billion. With the support of our 3,700 professionals and an unparalleled track-record and know-how, we are ideally positioned to generate superior value and develop world-class projects.
Unibail-Rodamco-Westfield distinguish ourselves by our Better Places 2030 agenda, that sets our ambition to create better places that respect the highest environmental standards and contribute to better cities.
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News
Rebel Shareholders Spark Rally In Unibail-Rodmaco-Westfield Shares
A stunning 43% jump in the share price of the Paris-based owner of the Westfield international shopping malls, Unibail-Rodmaco-Westfield (URW) on Tuesday stunned investors after it became known that a multi-billion dollar share issue had been rejected by shareholders.
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URW – Citi rates the stock as Sell
Citi remains concerned about the de-leveraging that needs to occur. Management presented a confident outlook at the first half results but the broker is more worried about asset values falling faster, lowering collateral value and leading to more dilutive asset sales, or lenders applying higher debt costs.
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Office Remains The Key Pick In A-REITs
The outlook for the A-REIT sector is relatively benign, as brokers note portfolio fundamentals are healthy and gearing is generally low.
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