Carmila shares break through their €15.38 resistance level and extend their rebound
The Carrefour shopping centre REIT extends its rebound in a well-oriented Paris market. The stock has just passed a threshold that had resisted it for several weeks, following rental income growth accelerating as published at the end of October.
A breakout at €15.38 extends the rebound of recent weeks
Carmila gains 1.97% to €15.50, while the SBF 120 rises 1.12%. Intraday, the stock recovered its 30-session high, at €15.38, a level that now becomes support.
The move extends a 4.59% weekly recovery, which brings the price back above its 20-day and 50-day moving averages (€14.76 and €14.84).
The RSI at 68 shows well-established buying momentum. The 200-day moving average (MM200), at €16.34, nevertheless remains 5.1% above the current price, and the next resistance level is at €18.12.
Rents up 2.1% over nine months and recurring net income target maintained
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On October 22, Carmila confirmed its target for recurring net income of €1.87 per share for 2026. Like-for-like net rental income rose 2.1% over nine months, compared with 1.4% in the first half. The occupancy rate reached 96.0% (+70 basis points), and the company also announced the acquisition of Grand Quetigny, near Dijon.
According to the consensus of the analysts surveyed, the stock trades at around 8.3 times earnings for the current financial year. Over three months, the stock is down 8.4%, and the annual accounts will constitute the next full review.
Carmila is confidently reiterating its objectives for 2026
Risks mentioned
No new supply and increasing scarcity of profitable spaces may limit future expansion opportunities
Interest rate sensitivity despite current full hedging in 2026-2027, potentially impacting cost of capital for future acquisitions
Retail market concentration in Western Europe and exposure to economic downturn affecting footfall and retailer demand
Opportunities identified
Accretive acquisition of Grand Quetigny (Dijon) generating rental uplift and innovation-based revenues leveraging Carmila's asset management expertise
Rising retailer demand and occupancy expansion (96.0%, +70 bps) supporting sustainable rental revenue growth across three countries
Innovation-driven revenues (Specialty leasing, Retail media, Next Tower, Marketing services) from 620 million annual visits
Outlook / guidance
Management commentary: Carmila is confidently reiterating its objectives for 2026 and expects to generate recurring earnings per share of €1.87.
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.
