Retail Estates SA
RET
ISIN BE0003720340 / Valor 861102
Retail Estates SA
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About company
Retail Estates SA is a public regulated real estate company that focuses on assembling, managing, and expanding a portfolio of peripheral retail properties in Belgium and the Netherlands. The company's strategy is to invest in retail properties located on the outskirts of residential areas or along access roads to urban centers, with a diverse range of tenants from various retail sectors. By maintaining a well-diversified tenant mix, Retail Estates aims to mitigate risks associated with economic downturns and ensure steady, long-term growth through asset value appreciation and rental income.
Summarized from source with an LLMView SourceSector: FinanceLatest Results (20.08.2024):
EPRA Earnings
On 30 June 2024, Retail Estates SA reported EPRA earnings of €22.49 million, a slight increase from €22.32 million in the comparable period of the 2023-2024 financial year. However, EPRA earnings per share decreased to €1.56 from €1.58 due to dilution, as the weighted average number of shares increased from 14,085,827 to 14,386,524.
Net Result
Retail Estates SA's net result for the quarter ending 30 June 2024 amounted to €27.87 million. This figure includes the results on the disposal of investment properties (€-0.15 million), positive variations in the fair value of investment properties (€+0.60 million), other portfolio results (€-0.06 million), and positive variations in the fair value of financial instruments (€+5.03 million).
Debt Ratio
As of 30 June 2024, Retail Estates SA's debt ratio increased to 45.97% from 44.62% on 31 March 2024. The rise in the debt ratio is attributed to the processing of the interim dividend amounting to €5 per share, partially offset by the optional dividend that resulted in a capital increase of €19.74 million on 27 June 2024.
Interest Charges
Retail Estates SA reported a weighted average interest rate of 2.10% on 30 June 2024, down from 2.30% on 31 March 2024 and 2.13% on 30 June 2023. This decrease is due to changes in the composition of the credit and hedging portfolios. The interest rate risk is 97.68% hedged, minimizing the impact of higher interest rates.
Outlook
Retail Estates SA has maintained its expected dividend at €5.1 gross per share despite macroeconomic uncertainties that make it difficult to predict the evolution of the fair value of investment properties and interest rate hedging instruments. The intrinsic value of the shares remains sensitive to these factors, adding to the uncertainty.
Summarized from source with an LLMView SourceKey figures
Performance
Volatility
993 M
Market cap (USD)
2,639
Daily traded volume (Shares)
59 / 58.5
1 day high/low (USD)
52 weeks high/low (USD)
Dividend ex-date
Dividend (USD)
Dividend yield (p.a.)
Est dividend (USD)
Est dividend yield
P/E ratio
Est P/E ratio
EPS (USD)
Est EPS (USD)
Ratings & reviews
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