Klépierre share hits record at €40.20, highest level since 2016
The real estate company crossed a significant symbolic milestone today by posting a new all-time high over ten years, in a well-oriented Paris market. The record comes in the wake of the upward revision of annual targets published in late July, which had already propelled the share to unprecedented levels in a decade.
A ten-year high at €40.20, with moving averages widely exceeded
Klépierre touched €40.20 during the session, beating its previous ten-year record of €40.10, reached in 2016. Since this intraday high, the share has slightly retreated to €40.08, representing a gain of 0.25% compared to the previous close. Over one month, the increase reaches 12.27%, reflecting a marked acceleration of the bullish momentum underway for several weeks. The moving averages testify to the strength of the movement: the price is trading 5.14% above the 20-day MA at €38.12, and 9.06% above the 50-day MA at €36.75.
The 200-day MA at €34.36 remains 16.65% below the current price, underscoring the scale of the underlying rally. The RSI at 78 signals a pronounced overbought configuration — consistent with nearly 17% progress over three months. The next psychological level above the current price is the €41.00 mark, a level the share has yet to reach.
Half-yearly results and raised guidance, foundation of progress since late July
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The stock market momentum of recent weeks stems from first-half 2026 results published on July 29, accompanied by a revision upward of annual targets. Klépierre now targets gross operating surplus of at least 1,150 million euros for the full year, and net current cash-flow per share at the upper end of a range between €2.77 and €2.80. These figures are based on consistent first-half progress: rental income up 4.4%, gross operating surplus up 4.8%, and positive rental reversion of 5.0% on renewals and re-lettings.
Shopping center footfall increased only 1.2% over the period, which remains a monitoring point going forward, particularly as the cost of new financing at 3.42% already exceeds the current average cost of debt of 1.9%. On the stock market side, the analysts' consensus bears monitoring to assess whether breaking the ten-year historical record changes sector price targets for real estate companies. The immediate support level in case of consolidation stands at €35.34, a former resistance level now broken through by the share.
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.
