Icade share abandons its 15.05 € support at opening, RSI in oversold territory
The office real estate company is losing ground in a declining Paris market. The decline falls below a threshold that the share had been defending for several sessions, while French interest rates remain elevated.
A 15.05 € support that gives way during the session, below all moving averages
Icade share is down 2.98% to 14.99 €, after a market opening where it breached its 15.05 € support and has not recovered since. The share is now down 16.54% over one month and 21.06% over three months. It is trading 8.60% below its 20-day moving average and 24.10% below its 200-day moving average, while the RSI at 27 reflects an oversold configuration. The real estate company ranks among the bottom performers of the SBF 120, which is down 1.37% at the same time.
French debt under pressure and half-year results: the context surrounding the real estate company
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The OAT-Bund spread is at 1.34 points, with the 10-year OAT at 4.83%, in a session where the CAC 40 is down 1.41%. On the bond market, French interest rates remain elevated, with an OAT-Bund spread at 1.34 points and a 10-year OAT at 4.83%. When publishing H1 2026 results on July 22, the group had confirmed its annual guidance, with expected net current cash flow between 2.90 € and 3.10 € per share, while indicating a 3.1% decline in property value at constant scope.
Based on the consensus of surveyed analysts, the share is trading at approximately 5.0 times current fiscal year earnings. The 15.05 € support is now behind the share, and the next reference point is the 14 € zone.
Confirmation de la guidance annuelle 2026 avec un CFNC Groupe attendu entre 2,90 € et 3,10 € par action
Risks mentioned
Baisse de valeur du patrimoine de -3,1 % à périmètre constant, dont -2,8 % sur les bureaux
Réversion négative attendue sur les renouvellements de baux, potentiel de -7,1 % sur les loyers faciaux
Coût moyen de la dette en hausse à 1,85 %, attendu à environ 2 % fin 2026 ; ICR dégradé à 3,8x
Opportunities identified
Promesse de vente des actifs de santé au Portugal, environ 75 M€ en quote-part Icade
Acquisition des 49 % de la Tour Eqho avec un rendement supérieur à 8 %, relutive sur le CFNC
Réservations résidentielles en hausse de 11,9 % en volume et 6,4 % en valeur
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.
