Colonial rises after 9-month net profit beat, outlook upgrade

Colonial SFL SOCIMI SA

15/11/2024 09:13

** Inmobiliaria Colonial's  COL.MC  shares rise around 3%
after it reported estimates-beating 9-month net profit and
upgraded its guidance
    ** Spanish real estate group reported 9-month net profit at
156.4 million euros versus loss of 298.5 million euros year ago,
and said it expected to exceed upper range of its EPS guidance
for 2024
   ** CM Capital Markets says the results are overall positive
for the stock as net profit came above consensus estimates
although at the operating front were in line with expectations
    ** Jefferies points to 2024 guidance "to be beaten" and to
"solid" like-for-like rental growth of 6.5% mainly driven by
7.4% like-for-like rental growth in Paris
    ** Sabadell says the results are "good" and above its
expectations, due to higher revenue and lower operating and
financial expenses
    ** "We believe that the stock could perform well after the
punishment it has recently received (falling 11% in the last
month)," the broker adds
    ** Colonial is one of the best performers on Spanish
blue-chip index Ibex-35  .IBEX 

   
    
  

 (Reporting by Joanna Jonczyk-Gwizdala)
 ((joanna.jonczyk@tr.com))