CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 75-95% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Open platformOpen platform

Grand City Properties net income rises on rental growth; raises FY26 FFO I outlook

By Reuters News


Overview

  • Luxembourg residential property firm's 9M 2026 net rental income rose 4% yr/yr

  • Adjusted EBITDA for 9M 2026 up 4%, while FFO I declined 4% yr/yr

  • Company raised FY 2026 FFO I guidance after acquiring 20% stake in LEG Immobilien


Outlook

  • Grand City Properties raises FY 2026 FFO I guidance to €185 mln-€195 mln

  • Company expects full-year impact from LEG investment to be seen in 2027

  • Company says strong liquidity and conservative financial profile support outlook


Result Drivers

  • RENTAL GROWTH - Net rental income rose 4% in 9M 2026, supported by like-for-like rental growth of 3.3% and low vacancy rates

  • HIGHER FINANCE EXPENSES - FFO I declined mainly due to higher finance expenses, increased perpetual notes attribution and higher minority contribution

  • LOWER REVALUATION GAINS - Profit for the period fell, mainly due to lower revaluation gains and absence of prior year one-off deferred tax income


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

9M Rental Income

EUR 331 mln

9M Net Income

EUR 182 mln

9M Adjusted EBITDA

EUR 265 mln

9M FFO

EUR 136 mln

9M Like-For-Like

3.30%


Analyst Coverage

  • The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 3 "strong buy" or "buy", 5 "hold" and 2 "sell" or "strong sell"

  • The average consensus recommendation for the real estate rental, development & operations peer group is "buy."

  • Wall Street's median 12-month price target for Grand City Properties SA is €8.35, about 6.9% above its November 10 closing price of €7.81

  • The stock recently traded at 8 times the next 12-month earnings vs. a P/E of 9 three months ago


Reuters Recommended Reads

  • Nov 10 - TAG Immobilien FFO I rises on rental growth; raises 2026 outlook

  • Nov 10 - Germany's HAMBORNER REIT 9M FFO falls 6%, raises outlook

  • Nov 10 - German commercial property prices dip again in third quarter, data show


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.)

Capital.com is an execution-only brokerage platform and the content provided on the Capital.com website is intended for informational purposes only and should not be regarded as an offer to sell or a solicitation of an offer to buy the products or securities to which it applies. No representation or warranty is given as to the accuracy or completeness of the information provided.

The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance.

To the extent permitted by law, in no event shall Capital.com (or any affiliate or employee) have any liability for any loss arising from the use of the information provided. Any person acting on the information does so entirely at their own risk.

Any information which could be construed as “investment research” has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication.