France's Argan nine-month rental income rises on development deliveries, rent indexation

By Reuters News


Overview

  • France premium warehouse developer's nine-month rental income rose 5% yr/yr to €166.2 mln

  • Growth driven by full-year effect of 2025 developments and rent indexation

  • Company raised full-year 2026 rental income target to at least €222 mln, up 5% from 2025


Outlook

  • Argan raises 2026 rental income target to at least €222 mln, up 5% vs 2025

  • Company expects to deliver three additional projects by year-end as part of €200 mln investment plan

  • Company sees strong market prospects for Q4 2026


Result Drivers

  • NEW DEVELOPMENTS - Co said rental income growth was primarily driven by the full-year effect of developments delivered in 2025

  • RENT INDEXATION - Co said rent indexation effective Jan. 1, 2026 contributed to rental income growth

  • OCCUPANCY RATE - Co maintained a 99.9% EPRA occupancy rate


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

9M Rental Income

EUR 166.2 mln


Analyst Coverage

  • The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the commercial reits peer group is "buy."

  • Wall Street's median 12-month price target for Argan SA is €79.00, about 16.2% above its September 30 closing price of €68.00

  • The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 10 three months ago


Reuters Recommended Reads

  • Sept 29 - French aviation regulator cancels flights due to civil servants strike

  • Oct 1 - French investment company Eurazeo opens office in Abu Dhabi

  • Sept 30 - France's Hopscotch posts H1 net loss on weaker international activity


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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