Argan stock falls 2.6% in a sluggish market, third-quarter revenue expected tonight
The logistics real estate investment trust is losing ground on Thursday, in a SBF 120 index that is also declining by more than 1%, while Paris markets are evolving against the backdrop of unprecedented tension over French government debt. The decline occurs on the same day as the publication of Argan's quarterly revenue, an event awaited following the upward revision of annual targets announced in July.
A decline that widens the gap with short and medium-term moving averages
At €66.20, Argan is down 2.65% compared to Wednesday's close, bringing its monthly decline to 8.56%. The stock is now trading below its 20-day moving average at €71.44 (a gap of -7.33%) and its 50-day moving average at €72.54 (a gap of -8.74%), two levels that constitute a visible technical ceiling for several sessions. Only the 200-day moving average, at €65.38, remains below the current price, providing support at 1.25% below current levels.
The RSI at 34 is approaching the oversold zone without reaching it outright, reflecting a selling pressure that is gradually setting in. This decline extends the slide that began last week: the stock has lost 6.1% over seven days, after having gained nearly 9.6% over the quarter. The resistance threshold at €73.70 is moving away, while the former support level at €68 (broken yesterday) is now acting as an intermediate ceiling.
Third-quarter revenue published in a context of sovereign rates under pressure
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The third-quarter 2026 revenue is expected tonight. This quarterly event occurs in a deteriorating bond environment for real estate investment trusts: the yield on the French 10-year OAT reached 4.86% on Thursday, a level unseen since July 2008, while the spread with the German Bund is approaching 1.30 percentage points, its highest level since 2012. Listed real estate investment trusts, whose business model relies on debt and indexed rents, are historically sensitive to rising long-term rates.
The budgetary pressure that France is experiencing at the beginning of October, with a 2027 budget subject to a fragmented Parliament, is sustaining this tension on government borrowing. As a reminder, during the publication of first-half 2026 results on July 22, Argan had raised its annual targets to €221 million in revenue, based on an acceleration in deliveries. However, the recurring net income margin had declined to 71%, a point to watch in the data published today.
Management commentary: ARGAN rehausse à nouveau son objectif annuel pour les revenus locatifs au titre de 2026 et vise au moins 222 M€, soit une progression de + 5 % par rapport à 2025.
The information presented in this article is provided for informational purposes only and does not constitute an investment recommendation, an incentive to buy or sell a financial asset, or investment advice. Readers are invited to conduct their own research before making any decision.
Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.
