Klépierre S.A. (KLPEF)
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Klepierre: Outlook Confirmed As Financing Conditions Improve
Klepierre is a retail REIT focused on continental Europe, with 40% of tenant sales coming from France. The company confirmed its full-year outlook and was able to access 10-year financing at very favorable terms. I estimate that lower interest rates have reduced the impact refinancing will have on cash flows to only €0.45/share.
Klepierre: Good Performance, Wish My Position Was Larger
Klepierre, a French-based European Retail REIT, boasts a strong portfolio of irreplaceable shopping malls in central European cities, offering a 6.32% yield and BBB+ rating. Despite its impressive fundamentals and core ownership by Simon Property Group and APG, Klepierre's growth is expected to be slower, with a 4% EBITDA increase in 2024. The company trades below its EPRA NTA, presenting a 10% discount, but US-based REITs like Realty Income currently offer more attractive investment opportunities.
Klepierre Vs. Mercialys: Which Is The Better REIT For 2025?
Klepierre and Mercialys are REITs focused on European retail real estate, particularly in France. Both companies reported low-single-digit footfall and tenant sales growth, although Klepierre did deliver higher net rental income growth. Leverage is modest at both REITs. That said, cash flows will remain under pressure from refinancing.
2 REITs To Buy In November 2024
The REIT market experienced a little dip in October. As a result, some of them are becoming opportunistic again. I highlight 2 of my favorite REITs to buy in November 2024.
Klepierre: Covered Calls Can Boost Returns As Valuation Yields Stabilize
Klepierre is a retail REIT focused on continental Europe, primarily in France and Italy. The REIT has outperformed the Vanguard Global ex-U.S. Real Estate ETF so far in 2024 with a 16% total return. H1 2024 results were robust, and the company increased its cash flow outlook. I estimate a total potential return in the low double digits for the shares.
Big city malls the future for Klepierre in battle with online
Mall operator Klepierre is focusing on Europe's most dynamic and affluent big cities and offering experiences beyond shopping to compete with fast-growing online retailers, its chairman Jean-Marc Jestin told Reuters on Tuesday.
