Xior Student Housing: Stifel sees room for growth, starts with 'buy'

Xior Student Housing NV

03/06/2021 11:51

** Stifel initiates Xior Student Housing  XIOR.BR  with
"buy", citing strong earnings and capital growth potential for
continental Europe's only student accommodation focused real
estate investment trust
    ** The broker believes Xior's high occupancy, operating
margins, development pipeline and exposure to nascent markets,
such as Spain and Portugal, could boost its growth
    ** It forecasts a three-year earnings per share growth of
11.6% annually, with rental growth largely driven by a
development pipeline set to deliver over 5,000 beds over the
period
    ** "Xior also has a number of nomination agreements,
guarantee contracts and partnership agreements, which help to
support the stability of its income profile", the analysts say
    ** Stifel still sees further upside in shares despite a
"hefty" valuation
    ** Xior Student Housing shares gained 124.3% to 49 euros
since its initial public offering in 2015
    ** Among five analysts covering the Belgian stock, four rate
it "strong buy" or "buy," and one "hold"
    

 ((olivier.cherfan@thomsonreuters.com))