Icade is a property developer/real estate investment trust (REIT). Co. offers its clients and business partners a range of complementary products and expertise in the development, design, contracting, marketing, and administrative and technical management of their properties. Co.'s activities are segmented into three divisions: Property Investment, Property Development, and Services. Property Investment focuses especially energy, water, waste and carbon comprises significant properties; Property Development targets properties and operations whose service orders were launched during the year, and Services division manages office buildings and housing units on behalf of third parties.
  • TickerICAD
  • ISINFR0000035081
  • ExchangeEuronext Paris
  • SectorReal Estate Investment Trusts
  • CountryFrance

Analysts

ICADE with less fundamental stars is reduced to Neutral

ICADE (FR), a company active in the Real Estate Investment Trusts industry, loses a star(s) at the fundamental level and sees its general evaluation downgraded. The independent financial analyst theScreener just removed a fundamental star(s) for a 2 over 4-star rating. As such, market behaviour remains unchanged and is evaluated as moderately risky. theScreener believes that the loss of a star(s) merits downgrade to the general evaluation of the title, which passes to Neutral. As of the analysis date November 8, 2019, the closing price was EUR 86.80 and its expected value was estimated at EUR ...

Icade: 1 director sold

A director at Icade sold 395 shares at 84.212EUR and the significance rating of the trade was 52/100. 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 alo...

Benoit Valleaux ...
  • Christophe Chaput
  • Fatma Agnès Hamdani
  • Fehmi Ben Naamane
  • Florent Laroche-Joubert
  • François Maury
  • Georges Dieng
  • Jerôme Bodin
  • Johanna Jourdain
  • Laurence Hofmann
  • Matthias Desmarais
  • Michael Foundoukidis
  • Olfa Taamallah
  • Pierre Tegner
  • Roland Pfaender,MBA,CFA,CCRA
  • Samantha Jeary
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 10/18/2019

...

Florent Laroche-Joubert

Icade : Trajectory in line with our expectations and the 2019-2022 business plan

>2019 guidance reiterated for NCCF / share - Icade’s consolidated revenue for 9M 2019 came out in line with our forecasts at €1.02bn (vs. €1.17bn in 9M 2018). Rental income for the Office and Healthcare Investment divisions amounted to €473.4m, with like-for-like growth rates of respectively +1.7% and +2.6%. The occupancy rate improved very slightly by +0.1% vs. end-June to 91.9%. As regards the group’s 3rd business line, i.e. property development, the revenue r...

Benoit Valleaux ...
  • Christophe Chaput
  • Fatma Agnès Hamdani
  • Fehmi Ben Naamane
  • Florent Laroche-Joubert
  • François Maury
  • Georges Dieng
  • Jerôme Bodin
  • Johanna Jourdain
  • Laurence Hofmann
  • Matthias Desmarais
  • Michael Foundoukidis
  • Olfa Taamallah
  • Pierre Tegner
  • Roland Pfaender,MBA,CFA,CCRA
  • Samantha Jeary
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 18/10/2019

...

Marnik Hinnekens

TP ICAP - Europe - Morning CreditUpdate 18/10/2019 - Teleperformance - EN

Morning CreditUpdate 18/10/2019 - Teleperformance - EN

Marnik Hinnekens

TP ICAP - Europe - Morning CreditUpdate 18/10/2019 - Teleperformance - FR

Teleperformance (Achat) : Relève ses objectifs pour 2022 Morgan Stanley (Conserver) - 9M-19 : RN de $6,4 mds (-6%) Lufthansa pourrait reprendre une participation dans Alitalia Teva (Conserver) : Accord en vue dans le cadre du litige sur les opioïdes Netflix (Achat) - 9M-19 : Résultat opérationnel de $2,1 mds (+54,4%) Renault (Achat) : Abaisse ses objectifs de croissance pour l’année 2019 Thalès - T3-19 : Ventes de €4,2 mds (+23,4%, +0,9% en organique) Volvo (Achat) - 9M-19 : Résultat opérationnel de SEK40,1mds (€3,7mds, +30,0%)

Marnik Hinnekens

TP ICAP - Europe - Morning CreditUpdate 02/10/2019 - Teva - EN

Teva (M/P): Seeks an Agreement To Settle Opioid Lawsuits Euro Zone - Inflation: Euro Zone Annual Inflation Is Estimated At 0.9% In September Tesco (O/P) - H1 2019/20: Operating Profit Of £1.4bn (+25.4%) Wind Hellas: Plans To Issue A New 5NC2 Bond For €500m Via Crystal Almond Suez (U/P): Presents Its Strategic Plan For 2030 Icade (M/P): Sold 49% Of The Eqho Tower For €365m Abanca (O/P): Moody's Raises The Intrinsic Rating By One Notch to Ba1, The Outlook Remains Positive

Marnik Hinnekens

TP ICAP - Europe - Morning CreditUpdate 02/10/2019 - Teva - FR

Teva (Conserver) : Etudie un accord pour mettre fin à des plaintes sur les opioïdes Zone euro - Inflation : Le taux d'inflation annuel de la zone euro est estimé à 0,9% en septembre Zone euro - PMI : L’Indice PMI pour l’industrie manufacturière se replie de 45,7 en septembre Wind Hellas : Prévoit d’émettre €500m 5NC2 via la holding Crystal Almond Suez (Vente) : Présente son plan stratégique à horizon 2030 Icade (Conserver) : Cède 49% de la Tour Eqho pour €365m Abanca (Achat) :  Moody’s rehausse d’un cran la note intrinsèque à Ba1, la pers...

Benoit Valleaux ...
  • Christophe Chaput
  • Fatma Agnès Hamdani
  • Fehmi Ben Naamane
  • Florent Laroche-Joubert
  • François Maury
  • Georges Dieng
  • Jerôme Bodin
  • Johanna Jourdain
  • Laurence Hofmann
  • Matthias Desmarais
  • Michael Foundoukidis
  • Olfa Taamallah
  • Pierre Tegner
  • Roland Pfaender,MBA,CFA,CCRA
  • Samantha Jeary
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 10/18/2019

...

Florent Laroche-Joubert

Icade : Trajectory in line with our expectations and the 2019-2022 business plan

>2019 guidance reiterated for NCCF / share - Icade’s consolidated revenue for 9M 2019 came out in line with our forecasts at €1.02bn (vs. €1.17bn in 9M 2018). Rental income for the Office and Healthcare Investment divisions amounted to €473.4m, with like-for-like growth rates of respectively +1.7% and +2.6%. The occupancy rate improved very slightly by +0.1% vs. end-June to 91.9%. As regards the group’s 3rd business line, i.e. property development, the revenue r...

Benoit Valleaux ...
  • Christophe Chaput
  • Fatma Agnès Hamdani
  • Fehmi Ben Naamane
  • Florent Laroche-Joubert
  • François Maury
  • Georges Dieng
  • Jerôme Bodin
  • Johanna Jourdain
  • Laurence Hofmann
  • Matthias Desmarais
  • Michael Foundoukidis
  • Olfa Taamallah
  • Pierre Tegner
  • Roland Pfaender,MBA,CFA,CCRA
  • Samantha Jeary
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 18/10/2019

...

Florent Laroche-Joubert

Icade : Une trajectoire en ligne avec nos attentes et le plan stratégique 2019-2022

>Guidance 2019 du CFNC / action confortée - Icade publie un CA consolidé trimestriel sur 9M19 en ligne avec nos prévisions, à 1.02 Md€ (vs. 1.17 Md€ sur 9M19). Les revenus locatifs des foncières tertiaires & santé totalisent 473.4M€ pour des croissances à périmètre constant respectivement de +1.7% et +2.6%. Le taux d’occupation s’améliore très légèrement de +0.1% vs. fin juin et s’établit à 91.9%. En ce qui concerne la 3ème activité du groupe, i.e. la promotion ...

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 ...

Icade: 1 director sold

A director at Icade sold 395 shares at 84.212EUR and the significance rating of the trade was 52/100. 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 alo...

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...

Alexandre Iatrides ...
  • Benoit Valleaux
  • Christophe Chaput
  • Christophe-Raphaël Ganet
  • Emira Sagaama
  • Emmanuel Matot
  • Florent Laroche-Joubert
  • François Maury
  • Georges Dieng
  • Harald Eggeling
  • Jean Sassus
  • Johanna Jourdain
  • Louis Boujard
  • Matthias Desmarais
  • Michael Foundoukidis
  • Philippe Ourpatian
  • Rémi Adam
  • Samantha Jeary
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 07/24/2019

...

Alexandre Iatrides ...
  • Benoit Valleaux
  • Christophe Chaput
  • Christophe-Raphaël Ganet
  • Emira Sagaama
  • Emmanuel Matot
  • Florent Laroche-Joubert
  • François Maury
  • Georges Dieng
  • Harald Eggeling
  • Jean Sassus
  • Johanna Jourdain
  • Louis Boujard, CFA
  • Matthias Desmarais
  • Michael Foundoukidis
  • Philippe Ourpatian
  • Rémi Adam
  • Samantha Jeary
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 24/07/2019

...

Alfred Glaser ...
  • Benoit Valleaux
  • Bruno Cavalier
  • Delphine Brault
  • Florent Laroche-Joubert
  • Jerôme Bodin
  • Johanna Jourdain
  • Khaled Ben Amor
  • Louis Boujard
  • Matthias Desmarais
  • Michael Foundoukidis
  • Philippe Ourpatian
  • Pierre Tegner
  • Roland Pfaender

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 07/22/2019

...

ICADE with less fundamental stars is reduced to Neutral

ICADE (FR), a company active in the Real Estate Investment Trusts industry, loses a star(s) at the fundamental level and sees its general evaluation downgraded. The independent financial analyst theScreener just removed a fundamental star(s) for a 2 over 4-star rating. As such, market behaviour remains unchanged and is evaluated as moderately risky. theScreener believes that the loss of a star(s) merits downgrade to the general evaluation of the title, which passes to Neutral. As of the analysis date November 8, 2019, the closing price was EUR 86.80 and its expected value was estimated at EUR ...

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...

Carole Braudeau

Accor : Credit Feedback – Oddo BHF Forum 10 and 11 January

Our annual Forum in Lyon brought together 263 companies, including 41% of foreign companies, nearly 545 investors (33% foreigners), almost 6,500 one-to-one meetings. - This document gathers a brief feedback from the bond issuers and CB underlying companies in attendance. - - - - >Investment Grade - Accorhotels, Aéroports de Paris, Arkema, Buzzi Unicem, Carmila, Coface, Easyjet, Edenred, Fresenius Medical Care, Grand City Properties, Icade, JCDecaux, Klépierre, Lanxess, MT...

Carole Braudeau

Accor : Feedback Crédit Forum des 10 et 11 janvier 2019

Notre Forum annuel Oddo BHF 2019 vient de se dérouler à Lyon : il a réuni 263 sociétés, dont 41% étrangères, près de 545 investisseurs (33% étrangers), soit près de 6 500 one-to-one. - Ce document synthétise nos feed-back concernant les émetteurs obligataires présents et sous-jacents d’obligations convertibles. - - - >Investment Grade - Accorhotels, Aéroports de Paris, Arkema, Buzzi Unicem, Carmila, Coface, Easyjet, Edenred, Fresenius Medical Care, Grand City Properties,...

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...

Jehanne Leroy

Icade 24 Avril 2019

GouvernanceCrédit Agricole Assurances ("CAA") et la CDC semblent avoir réussi à trouver un compromis quant à leurs représentations respectives au conseil et à la composition de celui-ci. Il est ainsi proposé en résolution 9 de nommer Emmanuel Chabas (Crédit Agricole Assurances) comme 2e représentant de CAA au conseil, et Frédéric Thomas, Directeur Général de CAA sera le nouveau Président du Conseil, en remplacement d’André Martinez. Ainsi, avec 2 sièges au conseil et une détention de 18,4% du capital, CAA ne sera pas en surreprésentation. Cependant, la CDC détient 8 sièges au conseil (53% du c...

Icade - Assemblée générale des actionnaires du 24 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.

Icade – Proxinvest Corporate Governance Rating ® : C

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...

Jehanne Leroy

Proxy Report 29/06/2018

In 2017, Icade bought Eurazeo and Caisse d’Epargne CEPAC's stakes in ANF Immobilier then launched a simplified takeover offer. On February 12, 2018, both companies announced the merger of ANF Immobilier into Icade. This EGM aims to approve this merger. Parity ratio (3 Icade's shares for 11 ANF's shares) presents a slight discount compared to companies' share price; however it remains acceptable. Moreover, this merger seems to strategically benefit to Icade's shareholders and no significant negative impact on Icade's shareholding or governance has been identified.

Jehanne Leroy

Proxy Report 29/06/2018

En 2017, Icade a racheté les participations d'Eurazeo et Caisse d’Epargne CEPAC dans ANF Immobilier puis a lancé une Offre Publique d’Achat Simplifiée. Le 12 février 2018, les 2 sociétés ont annoncé leur projet de fusion-absorption d’ANF Immobilier par Icade avec une parité de 3 actions Icade pour 11 actions ANF Immobilier. La présente assemblée a pour but d'approuver cette fusion. La fusion-absoption d’ANF Immobilier par Icade semble totalement logique pour les actionnaires d’Icade. Elle permet de consolider son portefeuille de bureaux à un prix raisonnable puisque la prime de contrôle induit...

Valérie GASTALDY

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

The background trend is clearly bearish. Prices are falling again, but the movement has become hesitant. The next support is at €72.27. The background trend would be questioned should prices rise above €77.20.

Valérie GASTALDY

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

La tendance de fond est clairement orientée à la baisse. Les prix baissent à nouveau, mais le mouvement est devenu hésitant. Le prochain support est à 72,27 €. La tendance de fond serait remise en cause en cas de franchissement de 77,20 €.

Valérie GASTALDY

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

La tendance de fond est clairement orientée à la baisse. Les prix baissent à nouveau, mais le mouvement est devenu hésitant. Le prochain support est à 72,27 €. La tendance de fond serait remise en cause en cas de franchissement de 77,20 €.

Valérie GASTALDY

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

The background trend is clearly bearish. Prices are falling again, but the movement has become hesitant. The next support is at €72.27. The background trend would be questioned should prices rise above €77.20.

Valérie GASTALDY

Analyse moyen terme - ICADE : La correction gagne en vigueur.

La tendance de fond est clairement orientée à la hausse. La correction en cours gagne en vigueur. Il est trop tôt pour parler de retournement baissier. La tendance serait invalidée sous le support à 72,20 €.

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