URW rises after inching up its FY AREPS outlook

Unibail-Rodamco-Westfield SE

27/10/2023 08:37

** Shares in Unibail-Rodamco-Westfield (URW)  URW.AS  rise
around 2% after the shopping mall owner posted a turnover
increase in Q3 and nudged up its full-year estimate for adjusted
recurring earnings per share (AREPS) 
    ** The group now expects full-year AREPS of at least 9.50
euros ($10.03) after having previously indicated the upper end
of a 9.30-9.50 euro range
    ** "The uplift is driven by operating performance according
to management", Deutsche Bank says
    ** Berenberg is "encouraged" by the overall earnings
quality, and says URW achieved a positive rent reversion in
lettings across all regions
    ** "Stable rent collection rates suggest that the solvency
of URW’s tenants in the shopping centres is decent", it adds
    ** Including today's rise   the stock has dropped by 9.44 %
YTD
($1 = 0.9471 euros)

 (Reporting by Augustin Turpin and Jesus Calero)
 ((augustin.turpin@thomsonreuters.com))