Cromwell European REIT Likely Gaining From Divestment, Portfolio Rebalancing -- Market Talk

Dow Jones2023-11-15

0815 GMT - Cromwell European REIT is likely benefiting from its divestment and portfolio rebalancing strategy, RHB Research analyst Vijay Natarajan says, maintaining a buy call. The REIT divested two Italian assets this year for EUR188 million and used proceeds to pay its higher-cost revolving credit facilities, which will reduce its proforma net gearing to a comfortable 37.4%, the analyst says. The REIT is seeking to divest EUR200 million worth of assets by 2025, the analyst adds. However, RHB lowers its 2023-2025 distribution-per-unit estimates by 3%-5% to reflect factors including revised finance cost assumptions and trims the target to EUR2.10 from EUR2.15. Units are 2.3% higher at EUR1.31. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

November 15, 2023 03:15 ET (08:15 GMT)

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The REIT divested two ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK6512","symbol_name":"房地产股","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2383821818","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2383821818","pubTimestamp":1700036100,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0815 GMT - Cromwell European REIT is likely benefiting from its divestment and portfolio rebalancing strategy, RHB Research analyst Vijay Natarajan says, maintaining a buy call. 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