VGP edges up on record deliveries, strong occupancy

VGP NV

03/11/2022 09:30

** Shares in VGP  VGP1.BR  rise 2.5% after the real estate
developer said it delivered 28 projects in 10 months of the year
and reported higher occupancy
    ** VGP's occupancy stood at 99.6% as of Oct. 31 compared to
99.4% at end-2021, with 53.1 million euros of new and renewed
leases signed YTD
    ** J.P.Morgan points to record deliveries, indexation and
strong occupancy
    ** "The new developments remain relatively slow, but
completions track ahead of our expectations," KBC says
    ** VGP stock is partially bouncing back from Wednesday's
slump of 11.55% following a rating downgrade from Barclays,
which flagged investment slowdown putting profits at risk
    ** "We acknowledge the risk of an economic recession in
Europe, but don't expect a funding crisis," KBC adds
 (Reporting by Piotr Lipinski)
 ((piotr.lipinski@tr.com))