Fonciere des Regions is a long-term real etaste investor with a focus on office assets. Co.'s portfolio includes investment properties and properties under development. Co. holds a range of real estate assets, to collect lease payments and benefit from appreciation in the assets held. Co.'s activities can be divided into five segments: Office Markets in France; Office Markets in Italy; Logistics; Business Premises; and Car Parks.
  • TickerFDR
  • ISINFR0000064578
  • ExchangeEuronext Paris
  • SectorReal Estate Investment Trusts
  • CountryFrance

Analysts

Jérôme VINERIER

Analyse court terme - FONCIERE DES REGIONS : La progression des cours se poursuit.

La tendance est haussière. La progression des cours se poursuit. Les objectifs sont à 88,80 € puis 92,50 €. La rupture de 80,78 € mettrait la tendance en danger.

Jérôme VINERIER

Short term view - FONCIERE DES REGIONS : Prices are making further progress.

The trend is bullish. Prices are making further progress. The targets are at €88.80 and then €92.50. The break of €80.78 would endanger the trend.

Jérôme VINERIER

Analyse court terme - FONCIERE DES REGIONS : Stochastiques en zone de surachat.

La tendance est incertaine. Les cours se sont repris, mais la tendance manque de puissance pour le moment. Les Stochastiques sont en zone de surachat. Les cours pourraient se replier jusqu'à 84,80 €.

Jérôme VINERIER

Short term view - FONCIERE DES REGIONS : Overbought stochastics

The trend is uncertain. Prices have recovered but the trend lacks power for the time being. Stochastics are at the overbought level. prices could fall again to €84.80.

ING
Jaap Kuin ...
  • Jason Ball, CFA

Covivio/Hitting on all cylinders/HOLD

The continued pace of above-guidance rental growth (2.9% YTD vs 2.5% guidance) through 3Q reflects solid contributions from across Covivio's portfolio, particularly Hotels. In our view, Covivio's recent momentum is sustainable and the doubling of the pipeline to €1.8bn opens up the potential for more accretive capital recycling as non-strategic and mature asset disposals are ploughed back into the pipeline. 2020 will be a key year with c.€880m of deliveries targeted. With this note, we also transfer primary coverage to Jason Ball.

ING
Jaap Kuin ...
  • Jason Ball, CFA

Covivio/Hitting on all cylinders/HOLD

The continued pace of above-guidance rental growth (2.9% YTD vs 2.5% guidance) through 3Q reflects solid contributions from across Covivio's portfolio, particularly Hotels. In our view, Covivio's recent momentum is sustainable and the doubling of the pipeline to €1.8bn opens up the potential for more accretive capital recycling as non-strategic and mature asset disposals are ploughed back into the pipeline. 2020 will be a key year with c.€880m of deliveries targeted. With this note, we also transfer primary coverage to Jason Ball.

Florent Laroche-Joubert

Covivio : A quarter in line with the capital markets day

>Rental growth remains sound (+2.9% vs 3.0% in H1 2018) - One week after holding its capital markets day in Milan (see specific First Take), Covivio reported group share 9M 2018 income of € 460.8m (+5.6% y-o-y). Thanks to healthy rental markets, l-f-l growth in the strategic activities was robust at +2.9% (vs 3.0% in H1 2018). This growth was 55% driven by indexation while one-third came from reversion effects and the remainder from a decline in the vacancy rate....

ING
Research Department

Benelux Morning Notes

Befimmo: Still waiting for development lease up. Beter Bed: Hosts strategic update/CMD today. Covivo: Hitting on all cylinders. Fugro: Disappointing 3Q doesn't say too much. Home Invest Belgium: Further valuations gains. Proximus: Small EBITDA beat on lower summer roaming costs, guidance up. Signify: Cost savings and beat in conventional lamps offset organic growth weakness. Unibail-Rodamco-Westfield: Slower growth, but priced in. WDP: Yield compression finally coming through? Xior Student Housing: growth kicking in

Florent Laroche-Joubert

Covivio : Un trimestre en ligne avec le Capital Markets Day

>Une croissance locative qui reste soutenue (+2,9% vs 3,0% au S1 2018) - Une semaine après avoir tenu son Capital Markets Day à Milan (cf. First Take dédié), Covivio publie un chiffre d’affaires Part du Groupe (PdG) sur 9M18 à 460,8 M€ (+5,6% yoy). Bénéficiant de marchés locatifs bien orientés, la croissance à périmètre constant (pc) des activités stratégiques reste soutenue à +2,9% (vs 3,0% au S1 18). Cette croissance est portée à 55% par l’indexation tandis qu’un ti...

ING
Research Department

Benelux Morning Notes

AMG: 3Q18 results preview BESI: Cost measures cannot offset very weak end-markets Core Laboratories: Another Profit Warning Covivio: Beni Stabili results in-line EVS: Evertz takes a 3% stake LEG Immobilien: S&P Europe 350 inclusion Tessenderlo Group: strong 4Q18 needed to realize FY guidance

A director sold 800 shares at 89.684EUR and

A director at Fonciere Des Regions Gfr sold 800 shares at 89.684EUR and the significance rating of the trade was 56/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The n...

Ahmed Ben Salem ...
  • Alexandre Iatrides
  • Alfred Glaser
  • Antoine Boivin-Champeaux
  • Baptiste Lebacq
  • Christophe Chaput
  • Delphine Brault
  • Emira Sagaama
  • Fatma Agnès Hamdani
  • Florent Laroche-Joubert
  • François Maury
  • Georges Dieng
  • Jerôme Bodin
  • Léopold Authié
  • Matthias Desmarais
  • Michael Foundoukidis
  • Olfa Taamallah
  • Olivier Lebrun
  • Pierre Tegner
  • Rémi Adam
  • Samantha Jeary
  • Stephane Houri
  • Sven Edelfelt
  • Team Pharma
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 10/26/2018

...

Ahmed Ben Salem ...
  • Alexandre Iatrides
  • Alfred Glaser
  • Antoine Boivin-Champeaux
  • Baptiste Lebacq
  • Christophe Chaput
  • Delphine Brault
  • Emira Sagaama
  • Fatma Agnès Hamdani
  • Florent Laroche-Joubert
  • François Maury
  • Georges Dieng
  • Jerôme Bodin
  • Léopold Authié
  • Matthias Desmarais
  • Michael Foundoukidis
  • Olfa Taamallah
  • Olivier Lebrun
  • Pierre Tegner
  • Rémi Adam
  • Samantha Jeary
  • Stephane Houri
  • Sven Edelfelt
  • Team Pharma
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 26/10/2018

...

Ford Equity International Rating and Forecast Report

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Carole Braudeau

Covivio : New horizons

Publication date 27/07/2018 09:34 - Writing date 26/07/2018 21:30 - - - - - - - - - - Equity data - Reco : Neutral - Target : 88.00 EUR - Equity Analyst : Florent Laroche-Joubert - florent.laroche-joubert@oddo-bhf.com - +33 (0)1 55 35 42 66 - - Corporate Governance: Strong opportunity (1) - / - / - 25 July 2018: sales on 30 September 2018 (after market close) - - - - - - - - - - - - - - - - - - - After Covivio (ex Foncière des Régions) reported solid first half-year results, this seems like a g...

Carole Braudeau

Covivio : De nouveaux horizons.

Les résultats semestriels de Covivio (ex Foncière des Régions) étaient de bonne facture et il nous semblait opportun de faire un point sur l’évolution du périmètre du groupe, dans le cadre du projet de fusion avec sa filiale italienne Beni Stabili. et plus globalement d’une politique de rotation d’actifs dynamique, couplée à une accélération des engagements sur le pipeline de projets. - C’est également l’occasion d’updater nos recommandations sur les deux noms. - Nous préférons nous...

Charles Pinel

Covivio - Proxy report -06/09/2018

This general meeting is mainly called in the context of the project of merger by incorporation of Beni Stabili by Foncière des Régions (resolutions 1 to 4). It will also be proposed to adopt “Covivio” as new corporate name of the company (resolution 5).

Charles Pinel

Covivio - Proxy report- 06/09/2018

Cette assemblée générale a pour principal objet l'approbation du projet de fusion par voie d’absorption de la société cotée Beni Stabili dont FDR détient actuellement 59,87% du capital. Cette opération apparait stratégiquement pertinente car elle permettra au groupe de renforcer son exposition géographique sur un marché italien prometteur et de simplifier sa structure. Les conditions financières sont raisonnables et l’impact en terme de gouvernance neutre. Par conséquent, nous recommandons l’approbation de l’opération (résolutions 1 à 4). Il est également proposé deux modifications statutaire...

Anaïs Dudout

Proxy Report - 19/04/2018

ITEM 5 TO 11 This year, the Company proposes that shareholders vote on the 2017 (“ex-post”) remuneration and 2018 (“ex-ante) remuneration policy of Jean Laurent (Chairman of the Board of Directors), Christophe Kullmann (CEO), Olivier Estève and Dominique Ozanne (Deputy-CEOs) in line with the new "Sapin II" law. Regarding the 2017 remuneration, the Company's communication lacks transparency about the objectives for the performance criteria of the Short and Long-Term Incentives STI and LTI), even if we appreciate that past achievement rates are disclosed. The remuneration policies for 2018 inc...

Anaïs Dudout

Proxy Report - 19/03/2018

Pour la première fois, Foncière des Régions offre un vote contraignant sur les rémunérations 2017 de Jean Laurent, Président du Conseil, de Christophe Kullmann, Directeur Général et d'Olivier Estève, Directeur Général, mais également sur la politique de rémunération 2018 de ces mêmes mandataires sociaux (ainsi que sur celle de Dominique Ozanne, nouveau Directeur Général Délégué) dans le cadre de la nouvelle loi "Sapin II" (résolutions 5 à 11). Concernant les rémunérations 2017, la Société fait preuve d'un manque de transparence concernant les objectifs des critères de performance du bonus et ...

Expert Corporate Governance Service (ECGS)

Etude de l'AG du 26/04/2017

This year, the company proposes the shareholders to vote on the 2016 remunerations of Jean Laurent (Chairman of the Board of Directors), Christophe Kullmann (CEO) and Olivier Estève (Deputy-CEO), and also a vote on the 2017 remuneration policy for those representatives for the first time and as part as the new "Sapin II" law.Regarding the 2016 remunerations, the Company’s communication lacks of transparency about the objectives and realisation rates of the annual bonus criteria and for the performance criteria of the Long-Term Incentives. The remuneration policies for 2017 do include neither t...

Jérôme VINERIER

Analyse court terme - FONCIERE DES REGIONS : La progression des cours se poursuit.

La tendance est haussière. La progression des cours se poursuit. Les objectifs sont à 88,80 € puis 92,50 €. La rupture de 80,78 € mettrait la tendance en danger.

Jérôme VINERIER

Short term view - FONCIERE DES REGIONS : Prices are making further progress.

The trend is bullish. Prices are making further progress. The targets are at €88.80 and then €92.50. The break of €80.78 would endanger the trend.

Jérôme VINERIER

Analyse court terme - FONCIERE DES REGIONS : Stochastiques en zone de surachat.

La tendance est incertaine. Les cours se sont repris, mais la tendance manque de puissance pour le moment. Les Stochastiques sont en zone de surachat. Les cours pourraient se replier jusqu'à 84,80 €.

Jérôme VINERIER

Short term view - FONCIERE DES REGIONS : Overbought stochastics

The trend is uncertain. Prices have recovered but the trend lacks power for the time being. Stochastics are at the overbought level. prices could fall again to €84.80.

Valérie GASTALDY

Short term view - FONCIERE DES REGIONS : The movement can go on.

The background trend is clearly bullish. The MACD is positive, it confirms that trend. The movement can go on. The following targets are at €92.75 and €94.88. The trend would be invalidated below the support at €87.10.

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