Gecina GFC.PA
Gecina is a French REIT (SOCIMI) that owns and manages a portfolio of high-quality office properties in Paris and other major European cities, generating income primarily from renting these assets. Gecina, with a Net Debt/EBITDA of 10.97 and a payout of 252%, faces a rising rate environment that pressures its valuation and dividend sustainability, while its earnings fall by -99%.
Detailed metrics
Market and fundamental data as of the analysis date.
Full AI report
Generated automatically from the metrics, the macro context and the company's news.
Gecina is a French REIT (SOCIMI) that owns and manages a portfolio of high-quality office properties in Paris and other major European cities, generating income primarily from renting these assets. Gecina, with a Net Debt/EBITDA of 10.97 and a payout of 252%, faces a rising rate environment that pressures its valuation and dividend sustainability, while its earnings fall by -99%.
Score by category
| Category | Score |
|---|---|
| Financial health | 3.6 |
| Quality / Moat | 5.1 |
| Valuation | 6.7 |
| Growth | 2.8 |
| Dividend | 4.3 |
| Momentum | 3.2 |
| Risk & Context | 4.3 |
OVERALL SCORE: 4.5/10
Context and risks
Gecina is an office REIT with a Net Debt/EBITDA of 10.97, highly leveraged and with long-duration cash flows. The rise in European bond yields (ECB hiking) makes its financing more expensive and reduces the present value of its future cash flows, a material risk to its business model.
News considered in the analysis
- Gecina AGM Backs Dividend And Buyback As Leasing Supports Portfolio Plan — El respaldo a la junta para el dividendo y la recompra, junto con el apoyo del arrendamiento, es un moderado voto de confianza en la estrategia de la empresa.
- European Markets Close Lower in Thursday Trading as Bond Yields, Oil Prices Rise — El aumento de los rendimientos de los bonos europeos presiona la valoración de los activos inmobiliarios de larga duración, un viento en contra relevante para Gecina.
- Is It Time To Reconsider Gecina (ENXTPA:GFC) After European Real Estate Headwinds? — Artículo de análisis genérico sin información nueva material.
- Is It Time To Reconsider Gecina (ENXTPA:GFC) After Recent Share Price Moves? — Artículo de análisis genérico sin información nueva material.
- Gecina (ENXTPA:GFC), What Is Drawing Fresh Attention Now? — Titular de listículo sin información nueva material.
Verdict: Hold, with caution. The high dividend yield (8.64%) is attractive, but the extreme leverage and unsustainable payout make it a high-risk position in the current environment.
Main risk: Extreme leverage (Net Debt/EBITDA of 10.97) combined with rising ECB interest rates, which makes refinancing more expensive and threatens dividend sustainability.
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