Gecina is a rental real estate company. Co.'s purpose is to operate individual rental properties or group of properties located mainly in France. Co.'s properties include commercial assets (offices and retail outlets), residential assets, logistics assets, hotels and healthcare facilities. Co. is organized around two main sectors and one ancillary segment: Economic sector comprising the commercial segment (offices and retail outlets), the portfolio of logistics properties and of hotel buildings; Demographic sector comprising traditional residential units (housing units property holding), portfolio of students residences and of healthcare facilities; Ancilary segment of real estate services.
  • TickerGFC
  • ISINFR0010040865
  • ExchangeEuronext Paris
  • SectorReal Estate Investment Trusts
  • CountryFrance

Analysts

Benoît Faure-Jarrosson ...
  • Bruno Duclos
  • Vladimir Minot

INVEST SECURITIES - GECINA (VENTE vs NEUTRE, OC 128€ vs 124€) : Un trimestre dans la continuité des précédents

Benoit Valleaux ...
  • Charles Lepetitpas
  • Christophe Chaput
  • Emira Sagaama
  • Emmanuel Matot
  • Florent Laroche-Joubert
  • Jean Sassus
  • Johanna Jourdain
  • Laurence Hofmann
  • Matthias Desmarais
  • Michael Foundoukidis
  • Nicolas David
  • Olfa Taamallah
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 10/23/2019

We are initiating coverage of Merlin Properties and Colonial, Spain’s top two REITs, with a Buy recommendation. We expect the groups, each with its specific strategic direction, to continue their development in a positive economic climate. - - ...

Florent Laroche-Joubert

Gecina : Organic growth underpinned by a buoyant market and a further streamlining of real estate assets

>Organic performance underpinned by brisk momentum in the office real estate segment in central business districts - Buoyed by the brisk office market momentum in central zones, quarterly sales over 9M 2019 came in at € 500.6m, in line with our expectations. Growth at constant scope accelerated to +2.4% y-o-y in 9M 2019 (vs +2.0% in H1 2019 and +1.0% targeted at the beginning of the year) and +1.1% at current scope following changes in scope. In retail, offices, organ...

Moody's announces completion of a periodic review of ratings of Gecina SA

Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of Gecina SA. Global Credit Research- 16 Jul 2019. Stockholm, July 16, 2019-- Moody's Investors Service has completed a periodic review of the ratings of Gecina SA and other ratings that are associated with the same analytical unit.

Gecina SA: Updated discussion of key credit factors

Our credit view of Gecina, reflecting its large size and quality of its office portfolio, an improving property market outlook as well as a fully unencumbered asset base

Gecina SA: Key Facts and Statistics - LTM as of June 2018

A summary company profile, detailing Gecina S.A.’s business operations and financial highlights.

Gecina SA - June 2018 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Gecina SA: Updated credit analysis following change of outlook to stable

Our credit view of Gecina, reflecting its large size and quality of its office portfolio, an improving property market outlook as well as a fully unencumbered asset base

Benoît Faure-Jarrosson ...
  • Bruno Duclos
  • Vladimir Minot

INVEST SECURITIES - GECINA (VENTE vs NEUTRE, OC 128€ vs 124€) : Un trimestre dans la continuité des précédents

Florent Laroche-Joubert

Gecina : Organic growth underpinned by a buoyant market and a further streamlining of real estate assets

>Organic performance underpinned by brisk momentum in the office real estate segment in central business districts - Buoyed by the brisk office market momentum in central zones, quarterly sales over 9M 2019 came in at € 500.6m, in line with our expectations. Growth at constant scope accelerated to +2.4% y-o-y in 9M 2019 (vs +2.0% in H1 2019 and +1.0% targeted at the beginning of the year) and +1.1% at current scope following changes in scope. In retail, offices, organ...

Florent Laroche-Joubert

Gecina : Une croissance organique soutenue par un marché porteur et un patrimoine qui se rationalise davantage

>Une performance organique soutenue par la bonne dynamique du marché de bureaux dans les zones centrales - Porté par la bonne dynamique des marchés de bureaux dans les zones centrales, le CA trimestriel sur 9M 19 s’établit à 500.6 M€, en ligne avec nos attentes. La croissance à périmètre constant s’accélère à +2.4% yoy sur 9M19 (vs +2.0% au S1 19 et +1.0% ciblé en début d’année) et +1.1% à périmètre courant suite aux variations de périmètre. Dans le détail, les bureau...

Florent Laroche-Joubert

ODDO : Office REITs in France: “safe haven” profile confirmed

>Continuing rental momentum… - Immostat's Q3 2019 statistics for office real estate in the Ile de France region reflect a continuation of the rental momentum seen previously: Immediately available supply is increasingly scarce, with only 2.8m m² in Q3 2019 (-2.3% q-o-q & -5.7% y-o-y). The decline in surface area is particularly marked in Paris centre west (-7.5% q-o-q) and the inner rim excluding the western crescent (-7.1% q-o-q). The decline is less marked in ...

Florent Laroche-Joubert

ODDO : Foncières bureaux France : un profil « valeur refuge » qui se confirme

>Une dynamique locative qui se poursuit… - Immostat a publié ses statistiques du T3 2019 sur l’immobilier de bureaux en Ile de France qui reflètent une poursuite de la dynamique locative observée jusqu’à maintenant : L’offre immédiatement disponible se rarifie davantage avec seulement 2,8 Mm2 au T3 2019 (-2.3% qoq & -5.7% yoy). La baisse des surfaces reste particulièrement forte dans Paris Centre Ouest (-7.5% qoq) ainsi que la 1ère couronne hors croissant ouest (...

1 director bought

A director at Gecina bought 29,808 shares at 135.965EUR and the significance rating of the trade was 67/100. 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 names of board memb...

Benoit Valleaux ...
  • Charles Lepetitpas
  • Christophe Chaput
  • Emira Sagaama
  • Emmanuel Matot
  • Florent Laroche-Joubert
  • Jean Sassus
  • Johanna Jourdain
  • Laurence Hofmann
  • Matthias Desmarais
  • Michael Foundoukidis
  • Nicolas David
  • Olfa Taamallah
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 10/23/2019

We are initiating coverage of Merlin Properties and Colonial, Spain’s top two REITs, with a Buy recommendation. We expect the groups, each with its specific strategic direction, to continue their development in a positive economic climate. - - ...

Florent Laroche-Joubert ...
  • Sylvain Goyon, CFA

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 10/08/2019

Since it was launched on 8 January 2019, our ODDO BHF Convictions large caps list shows an absolute performance (dividends reinvested) of +14.6% and 1% in relative terms (vs iShares ETF Stoxx 600). The recent performance was undermined by the poor run from Carrefour. This does not reflect a deterioration in the group’s fundamentals but rather fears of an offer for Casino at too high a price. This saga, which is set to last, “caps” Carrefour’s share price. For this reason, we are remov...

Florent Laroche-Joubert ...
  • Sylvain Goyon, CFA

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 08/10/2019

Depuis son lancement le 8 janvier dernier, notre liste ODDO BHF Convictions large caps affiche une performance absolue (dividendes réinvestis) de +14,6% et de +1% en relatif (vs iShares ETF Stoxx 600). La performance récente a pâti de la contre-performance de Carrefour. Cette dernière ne reflète pas une dégradation des fondamentaux du distributeur mais plutôt la crainte d’une offre sur Casino à un prix trop élevé. Ce feuilleton, appelé à durer, « cape » le cours de Carrefour. Pour cet...

Emmanuel Matot ...
  • Florent Laroche-Joubert
  • Pierre Tegner
  • Stephane Houri

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 09/26/2019

...

Emmanuel Matot ...
  • Florent Laroche-Joubert
  • Pierre Tegner
  • Stephane Houri

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 26/09/2019

...

GECINA reduced its risk exposure resulting in an upgrade to Slightly Positive

GECINA (FR), a company active in the Real Estate Investment Trusts industry, reduced its market risk and raised its general evaluation. The independent financial analyst theScreener awarded an improved star rating to the company, which now shows 3 out of 4 possible stars; its market behaviour has improved and can be considered as defensive. theScreener believes that this new assessment merits an overall rating upgrade to Slightly Positive. As of the analysis date May 14, 2019, the closing price was EUR 133.60 and its potential was estimated at EUR 142.61.

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

MarketLine Department

Deutsche Wohnen AG - Strategy, SWOT and Corporate Finance Report

Summary Deutsche Wohnen AG - Strategy, SWOT and Corporate Finance Report, is a source of comprehensive company data and information. The report covers the company's structure, operation, SWOT analysis, product and service offerings and corporate actions, providing a 360˚ view of the company. KeyHighlights Deutsche Wohnen AG (Deutsche Wohnen) is a one of the leading provider of real estate development and investment. It carries out residential and commercial property development activities in Germany. The company offers various asset management services such as modernization and maintenance,...

MarketLine Department

Klepierre SA - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments

Summary Marketline's Klepierre SA Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by Klepierre SA since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organization to sustain its competitive advantage. Key Highlight...

MarketLine Department

Covivio - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments

Summary Marketline's Covivio Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by Covivio since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organization to sustain its competitive advantage. Key Highlights This re...

Jehanne Leroy

Gecina, 17 Avril 2019

La communication de la société sur les éléments de rémunération attribuée à Méka Brunel est très bonne et permet à l’actionnaire de bien comprendre les montants attribués. De plus, la structure de la rémunération 2018 respecte la structure préconisée par Proxinvest. Enfin, les montants en jeu sont tout à fait acceptables. Cependant, l’un des critères des actions de performance attribuées au titre de 2018 n’est mesuré que sur 2,5 années, ce qui ne respecte ni la pratique de la place, ni nos préconisations. De plus, l’autre critère utilisé permet l’acquisition en cas de sous-performance (ce qui ...

Gecina - Assemblée générale des actionnaires du 17 avril 2019

Proxinvest publiera une étude analysant les résolutions proposées lors de la tenue de l’assemblée générale des actionnaires. Vous pouvez l'acquérir dès à présent et elle vous sera adressée par ResearchPool une fois publiée.

Gecina – Proxinvest Corporate Governance Rating ® : B

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

Proxy Report - 18/04/2018

ITEM 12, 14, 16 Méka Brunel was named CEO in 2017. Despite satisfactory financial performance an improvement in Gecina’s environmental footprint (lower GHG emissions), her compensation seems excessive and disclosure is below average. We recommend that shareholders oppose her compensation plan. ITEM 7, 8, 9 In 2017, Gecina acquired its competitor Eurosic. We welcome this acquitistion form a strategic standpoint given the consolidation currently taking place in the sector. Furthermore, the financial conditions of the transaction do not raise any concerns. We recommend that shareholders approve ...

Proxy Report - 18/04/2018

La présente assemblée générale est marquée par la ratification de le renouvellement Méka Brunel au conseil d'administration, qui est également Directrice Générale de la société depuis le début de l'exercice précédent (résolution 16), ainsi que sa rémunération passée (résolution 12) et sa politique de rémunération pour l'exercice à venir (résolution 14). La dirigeante a montré ses capacités en affichant des performances financières et des initiatives environnementales encourageantes, ce qui nous permettra de soutenir son mandat. Cependant, sa rémunération pose des problèmes de montants et de tr...

Dave Nicoski ...
  • Ross LaDuke

Vermilion Int'l Compass: Global Equity Strategy

After failing to break above resistance, global equities (MSCI ACWI) have had a rough start to the third quarter. Tuesday's 10-year low reading for September's US ISM manufacturing index further spooked investors and reignited global growth concerns. Continued weakness in global manufacturing and the US-EU tariff escalation raises the potential for a breakdown in global equities, however our outlook remains neutral as long as the MSCI ACWI remains confined to its horizontal range. • Prevailing trends continue for major indexes. Trends that began in March/April remain intact. That is, the MSCI...

Valérie GASTALDY

Short term view - GECINA : The background trend is clearly bearish.

The background trend is clearly bearish. The movement goes on. The next target is at €129.26, then €122.50. Passing €138.70 would question the continuation of the fall.

Valérie GASTALDY

Analyse court terme - GECINA : La tendance de fond est clairement orientée à la baisse.

La tendance de fond est clairement orientée à la baisse. Le mouvement se poursuit. Le prochain objectif est à 129,26 €, puis 122,50 €. Le franchissement de 138,70 € remettrait en cause la suite de la baisse.

Valérie GASTALDY

Analyse court terme - GECINA : Le mouvement se poursuit.

La tendance de fond est clairement orientée à la baisse. Le mouvement se poursuit. Le prochain objectif est à 129,26 €, puis 122,50 €. Le franchissement de 138,70 € remettrait en cause la suite de la baisse.

Valérie GASTALDY

Short term view - GECINA : The movement goes on.

The background trend is clearly bearish. The movement goes on. The next target is at €129.26, then €122.50. Passing €138.70 would question the continuation of the fall.

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