ING raises Cofinimmo on disposals, dividend

Aedifica NV

20/09/2024 13:11

** ING upgrades Belgian real estate investment trust
Cofinimmo  COFB.BR  to "buy" from "hold" on strong effort on
disposals and on firm stance on dividend over the last two years
    ** The broker says the divestments programme at 270 million
euros ($301 million) has been recently reiterated and sees that
even with a strong dividend cut, dividend yield will continue to
be attractive and higher than peers like Aedifica  AOO.BR 
    ** ING also sees a reassuring LTV level of 41.1% by selling
an additional 250 million euros worth of properties in 2025 and
with only about 29 million euros in committed investments next
year
    ** Out of 16 analysts that cover Cofinimmo, six rate the
stock "strong buy" or "buy", eight "hold" and two "strong sell"
or "sell" - LSEG

($1 = 0.8961 euros)

 (Reporting by Tiago Brandao)
 ((Tiago.Brandao@thomsonreuters.com;))