Xior slips after good Q3 as broker flags BaseCamp integration challenges

Xior Student Housing NV

22/11/2022 09:31

** Shares in Xior  XIOR.BR  slip around 2% after "overall
good" Q3, as KBC analyst highlights challenges in the BaseCamp
integration against a tough economic backdrop
    ** The group, which operates in the residential real estate
sector with offers mainly for students, posted Q3 net rental
result of 75.6 mln euros ($77.6 mln) and confirmed 2022 guidance
    ** "However, many uncertainties and risks remain on the
integration of the deal (with BaseCamp) against a more difficult
economic backdrop," KBC says and cuts the stock to "accumulate"
from "buy"
    ** Xior acquired the BaseCamp portfolio in September 2022
    ** "Challenge has started," KBC says, citing rising interest
rates as central banks are pulling the inflation brake
    ** But ING analysts welcome "overall good" Q3 results driven
by strong demand for student rooms, fast rental activity and
higher rental income thanks to inflation cost being passed to
the students
($1 = 0.9739 euros)
 (Reporting by Diana Mandiá)
 ((diana.mandia@gmail.com))