After a decline of over 7% in one month, Klépierre stock rebounds by 2.5%
The shopping center real estate investment trust is making a sharp recovery during trading, supported by a rising Paris market. This rebound comes after a difficult September, marked by a succession of declines in the stock.
A rebound that encounters moving averages still trending downward
The Klépierre stock gains 2.32% to €35.24, an increase that places it at the top of the SBF 120 index, which advances 0.46% at the same time. The move follows a decline of 7.17% over one month, and the price remains below its 20-day moving average (€36.25, a gap of -2.79%), as well as below its 50-day moving average (€37.78, a gap of -6.72%). The RSI at 24 reflects an oversold configuration following this slide, and the price is hovering near the 200-day moving average (€35.23), which it is testing upward after having broken through its support levels in recent weeks, as the breakdown through €36.18 at the end of September had illustrated.
The Paris session is benefiting from a relaxation following a period of tension on interest rates, with the 10-year OAT at 4.72%, according to the latest reading from the Banque de France on October 6, or 18 basis points below the peak of 4.90% reached on October 1. The CAC 40 advances 0.40% in this context, while the OAT-Bund spread remains at 1.27 point.
Half-year results that led the real estate investment trust to raise its 2026 objectives
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When publishing its first-half 2026 results on July 29, the company had revised upward its objectives for the full year, with EBITDA of at least €1,150 million and current net cash flow per share between €2.77 and €2.80. The group also reported a positive rental reversion of 5.0% on renewals and re-lettings, as well as extension projects at Le Gru, near Turin, and at Romagna, near Rimini, with targeted yields of 10% and over 8%. Among the risks mentioned on this occasion is the cost of new financing at 3.42%, higher than the average cost of current debt at 1.9%. In terms of levels, the support at €34.24 remains the threshold to monitor: the price is approximately 3% above it, and resistance is at €39.14.
Révision à la hausse des objectifs pour l'ensemble de l'année 2026
Risks mentioned
Dépendance à la fréquentation des centres commerciaux, en hausse limitée de 1,2 % au premier semestre
Taux d'effort des locataires stable à 12,5 %, limitant les marges de hausse des loyers
Coût des nouveaux financements à 3,42 %, supérieur au coût moyen actuel de la dette de 1,9 %
Opportunities identified
Relèvement des objectifs 2026 : EBE minimum de 1 150 M€ et cash-flow net courant par action de 2,77 à 2,80 €
Projets d'extension à Le Gru (Turin) et Romagna (Rimini) avec rendements prévus de 10 % et plus de 8 %
Réversion locative positive de 5,0 % sur renouvellements et recommercialisations
Outlook / guidance
Expected EBITDA: 1 150 millions d'euros
Management commentary: atteinte d'un EBE 1 minimum de 1 150 millions d'euros et d'un cash-flow net courant par action dans le haut d'une fourchette de 2,77 à 2,80 euros
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.