Gecina stock at five-year low, below €60.20

Five-year low at €60.15 on an RSI fallen to 20, in extreme oversold territory

Gecina touched €60.15 during trading this Thursday, breaking the previous five-year floor of €60.20 and extending a downward slide that began several weeks ago. The stock lost 3.21% compared to the previous day (€62.25), and has declined nearly 12% over one month. The technical configuration is severely degraded: the price is below its three moving averages, respectively 8% below the 20-day MA at €65.50, 14.2% below the 50-day MA at €70.22 and 17.6% below the 200-day MA at €73.08.

The RSI at 20 signals an extreme oversold configuration, comparable to that observed in early September when it had reached 21 without triggering a significant rebound. The nearest resistance level remains very distant, at €72.55, or more than 20% above the current price.

Tension over French rates weighs on the entire real estate sector

The rate environment represents a heavy backdrop for real estate companies this Thursday. The yield on the ten-year OAT stands at 4.75%, its highest level since July 28, 2008, while the spread with the German Bund (3.58%) reaches nearly 1.30 percentage points, its highest level since 2012. Real estate companies like Gecina are historically sensitive to government borrowing rates: the increase in financing costs compresses valuations of real estate assets and increases debt refinancing burden.

The usury rate for a fixed-rate mortgage loan of more than twenty years is set at 5.40% as of October 1, 2026, which also weighs on rental demand and asset values. Over one year, the stock has lost nearly 30% of its value, and according to the analysts' consensus surveyed, it is trading at around nine times expected earnings for the current fiscal year. The next policy rate figure or any budgetary signal from the French executive, whose 2027 budget bill is being examined today in Cabinet meeting, will be closely watched by sector operators.