Loan to Value ratio = 33%, dropped from 35% at the end of 2016.
Dividend for 2016 = 10.2 Euro, 90% of rental income, see Page 111.
At the current price of 223 Euro (close of April 10, 2017), the yield is
10.2/223 = 4.6%.
Recurring Earnings Per Share (Recurring EPS) came to €5.81 in H1-2016, representing an implied growth of +13.5% from the recurring EPS
for H1-2015 adjusted for the impact of the disposals in 2015.
Loan to value ratio is reduced slightly down to 34%.
The share prices have dropped a lot in the past few weeks , from ~ 250 in September to now 209 today. Also recently Euro has dropped a lot from about 1.12 USD in September 2016 to about 1.06 now.
The PE ratio at this moment is ~ 18, with a dividend yield of ~ (4.85 + 4.85 )/ 209 = 4.6%. Read at
Unibail 2016 full year results are here
http://www.unibail-rodamco.com/W/cms_sites/SITE_16406/ressources16406/pdf1/UR_PRES_FULLYEAR_SCREEN_2016.pdf
Recurring rental income grew 8.1%.
Loan to Value ratio = 33%, dropped from 35% at the end of 2016.
Dividend for 2016 = 10.2 Euro, 90% of rental income, see Page 111.
At the current price of 223 Euro (close of April 10, 2017), the yield is
10.2/223 = 4.6%.
Not too high , not too bad.
Unibal’s latest financial report is for 2016H1:
ROBUST SHOPPING CENTRE NRI GROWTH
like-for-like rental growth was 3.8%.
Recurring Earnings Per Share (Recurring EPS) came to €5.81 in H1-2016, representing an implied growth of +13.5% from the recurring EPS
for H1-2015 adjusted for the impact of the disposals in 2015.
Loan to value ratio is reduced slightly down to 34%.
Read more at http://www.unibail-rodamco.com/W/cms_sites/SITE_16406/ressources16406/pdf1/2016_H1_PRES_SCREEN.pdf
The share prices have dropped a lot in the past few weeks , from ~ 250 in September to now 209 today. Also recently Euro has dropped a lot from about 1.12 USD in September 2016 to about 1.06 now.
The PE ratio at this moment is ~ 18, with a dividend yield of ~ (4.85 + 4.85 )/ 209 = 4.6%. Read at
http://performance.morningstar.com/stock/performance-return.action?p=dividend_split_page&t=UL®ion=nld&culture=en-US
Unibail recently sold 500 m Euro bond at record low interest rate of 0.86% ! Read at
http://www.unibail-rodamco.com/W/cms_sites/SITE_16406/ressources16406/pdf1/UR_PR_20161115_EN.pdf
The company announced its 9-month results and
The Group reiterates its forecast of recurring earnings per share around €11.20 for 2016.
Read at
http://www.unibail-rodamco.com/W/cms_sites/SITE_16406/ressources16406/pdf1/UR_PR_20161025_EN.pdf
Thus we feel comfortable to buy the shares at current price for long-term holding.