Xior slips after cutting 2023 outlook on interest costs

Xior Student Housing NV

15/02/2023 10:02

** Shares in Xior Student Housing  XIOR.BR  fall 7.5% after
the group lowered 2023 earnings guidance, citing high interest
costs and slower pace of development due to portfolio revisions
    ** The company, which operates in the student-oriented
residential real estate sector, reported net rental income
growth of 41.3% in 2022, but cut 2023 EPS guidance by 7.6% to
2.20 euros
    ** ING underlines higher loan-to-value and more cautious
stance on 2023
    ** "FY23 earnings guidance has been cut by 7.6% driven by a
combination of assumed disposals and higher interest costs,
given 14% debt is subject to floating rates," Stifel says
    ** Berenberg says the reduced guidance does not come as a
complete surprise as it reflects the operational costs for the
integration of BaseCamp and higher financing costs in the
current interest rate environment
    ** Xior acquired the BaseCamp portfolio in September 2022
    ** The stock is on track for its worst day since Sept. 27
 (Reporting by Federica Mileo in Gdansk)
 ((Federica.mileo@thomsonreuters.com))