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

1 director bought

A director at Gecina bought 775 shares at 126.941EUR and the significance rating of the trade was 60/100. 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 members...

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.

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

Gecina SA - December 2017 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Gecina SA: Gecina's recent asset sales reduce execution risk related to disposal program, a credit positive

CORPORATES ISSUER COMMENT 11 January 2018 What is  Moody’s Credit Outlook ? Published every Monday and Thursday morning, Moody's Credit Outlook informs our research clients of the credit implications of current events. Contacts Roberto Pozzi +44.20.7772.1030 VP-Sr Credit Officer roberto.pozzi@moodys.com Andre Silva +44.20.7772.5385 Associate Analyst andre.silva@moodys.com CLIENT SERVICES

Gecina SA - June 2017 (LTM): Peer Snapshot

Peer Snapshot:  Gecina SA - June 2017 (LTM) 10 October 2017 FYE Dec-15 FYE Dec-16 LTM Jun-17 FYE Dec-15 FYE Dec-16 LTM Jun-17 FYE Dec-15 FYE Dec-16 LTM Jun-17 FYE

Florent Laroche-Joubert

Gecina : Central location: a key strategic focus

>2018 guidance confirmed after a robust quarter - In a favourable Paris office market with historically low vacancy rates (1.5%) and contracting available supply (-44% y-o-y), Gecina is taking full advantage of its strategic focus on central locations. While total gross revenues for 9M 18 (€ 504.5m) are up 31.4% y-o-y thanks to the consolidation of Eurosic, like-for-like (lfl) growth gathered momentum in the quarter and came to +2.2% in 9M 2018 (vs 1.8% in H1 2018). M...

Florent Laroche-Joubert

Gecina : La « Centralité » comme axe stratégique majeur

>Guidance 2018 confirmée après un trimestre dynamique - Dans un marché des bureaux parisien favorablement orienté avec un taux de vacance historiquement faible (1,5%) et une offre disponible qui se contracte (-44% yoy), Gecina profite pleinement de sa stratégie axée sur la « centralité ». Si les revenus bruts totaux sur 9M 18 (504,5 M€) sont en hausse de 31,4% yoy grâce à l’intégration d’Eurosic, leur croissance à périmètre constant (pc) s’accélère sur le trimestre et...

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

INVEST SECURITIES - Gecina : Réversion plus positive et mises en restructuration à venir - NEUTRE, OC 128€

La publication trimestrielle confirme, sans surprise, la bonne orientation de la croissance à périmètre constant, Gecina continuant de bénéficier de son positionnement central (faible vacance et forte demande captive). Dans ce contexte, Gecina déroule ainsi sa stratégie de création de valeur via (i) des cessions d'actifs non stratégiques ou matures pour ramener le ratio d'endettement sous 40%, (ii) l'accélération des développements d'actifs aux meilleurs standards pour satisfaire la demande. Nous ajustons légèrement nos estimations mais maintenons notre objectif de cours à 128€, ainsi que notr...

ING
Research Department

Benelux Morning Notes

ABN Amro: Preview 3Q18F – awaiting CMD . Agfa: closing offset printing plate factory. ALD: Preview 3Q18 results – car sales result once more in focus Arcadis: Light 3Q18 results and Brazil hurts. Cofinimmo: acquires €22m psychiatric clinic under construction. DWS: Cost efficiencies on track, fund flow data remains mixed. Gecina: solid progress on Paris CBD organic rent. KPN: 3Q18 in line, commercial KPIs still on the weak side. Melexis: Lowers FY18 revenue growth guidance. Orange Belgium: In line 3Q but very strong commercial momentum

ING
Jaap Kuin ...
  • Jason Ball, CFA

Colonial vs Gecina/Better growth for Colonial, Gecina lacking triggers

We believe Colonial looks more attractive due to its increased Spanish exposure, higher quality Paris assets, and higher yielding pipeline of similar size that will likely create more shareholder value compared to Gecina. We see a better 3-year relative total return for Colonial, following its recent price dip, at 12% vs 8% for Gecina. Higher cash flow growth at Colonial converges FFO multiples by 2020F. Gecina appears to be lacking further triggers as pipeline leasing, Eurosic integration and linked disposal progress seems to have been priced in. Due to higher leverage, Colonial disposals sho...

1 director bought

A director at Gecina bought 775 shares at 126.941EUR and the significance rating of the trade was 60/100. 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 members...

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

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...

Anaïs Dudout

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 ...

Anaïs Dudout

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...

Etude de l'AG du 26/04/2017

On 6 January 2017, the Board of Directors decided to terminate the mandate of Philippe Depoux as Chief Executive Officer and to appoint Méka Brunel as his replacement. Following this departure, Philippe Depoux was paid a severance payment representing two years of his remuneration (fixed and variable), which is excessive according to our guidelines (Resolution 8).In addition, only the new regulated agreement entered into in 2016 is subject to shareholder approval. This resolution therefore does not allow shareholders to vote on the entirety of the Statutory Auditor’s Special Report, which does...

Etude de l'AG du 26/04/2017

Le 6 janvier 2017, le conseil d'administration a décidé de mettre fin au mandat de Directeur général de Philippe Depoux et de nommer Méka Brunel en son remplacement. Suite à ce départ, Philippe Depoux s'est vu verser une indemnité de départ représentant deux ans de sa rémunération salariale (fixe et variable), ce qui est excessif selon Proxinvest (résolution 8). Par ailleurs, seule la nouvelle convention réglementée conclue lors de l'exercice 2016 est soumise au vote des actionnaires. Cette résolution ne permet donc pas aux actionnaires de voter sur l'intégralité du rapport spécial des commiss...

SRI Quantitative KPIs

Les analyses Gaïa sont des analyses ESG (Environnement, Social, Gouvernance) dediees aux entreprises de tailles intermediaires (PME, ETI) françaises. Elles presentent 120 indicateurs quantitatifs sur les trois derniers exercices.

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.

Valérie GASTALDY

Medium term view - GECINA : Falling prices.

The trend is uncertain. Prices are falling and they may accelerate to the downside. A new bearish trend is attempting to emerge.

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