Reported Earnings • May 11
First quarter 2026 earnings released First quarter 2026 results: FFO per share: €0.1. Revenue: €35.1m (up 2.6% from 1Q 2025). Funds from operations (FFO): €11.7m (up 15% from 1Q 2025). FFO margin: 33% (up from 30% in 1Q 2025). The increase in margin was primarily driven by higher revenue. Revenue is forecast to stay flat during the next 3 years compared to a 5.0% decline forecast for the Retail REITs industry in Europe. Over the last 3 years on average, earnings per share has increased by 105% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Announcement • May 06
Immobiliare Grande Distribuzione SIIQ S.p.A. to Report Q1, 2026 Results on May 07, 2026 Immobiliare Grande Distribuzione SIIQ S.p.A. announced that they will report Q1, 2026 results at 10:00 AM, Central European Standard Time on May 07, 2026 Buy Or Sell Opportunity • May 04
Now 23% undervalued Over the last 90 days, the stock has risen 10% to €4.00. The fair value is estimated to be €5.20, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 4.3% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to decline by 0.5% per annum. Earnings are forecast to grow by 15% per annum over the same time period. Upcoming Dividend • Apr 27
Upcoming dividend of €0.15 per share Eligible shareholders must have bought the stock before 04 May 2026. Payment date: 06 May 2026. Trailing yield: 3.5%. Lower than top quartile of Italian dividend payers (4.6%). Lower than average of industry peers (6.4%). Reported Earnings • Mar 04
Full year 2025 earnings: Revenues in line with analyst expectations Full year 2025 results: Revenue: €140.4m (flat on FY 2024). Funds from operations (FFO): €41.2m (up 16% from FY 2024). FFO margin: 29% (up from 25% in FY 2024). Revenue was in line with analyst estimates. Revenue is forecast to stay flat during the next 3 years compared to a 4.2% decline forecast for the Retail REITs industry in Europe. Declared Dividend • Mar 02
Dividend increased to €0.15 Dividend of €0.15 is 50% higher than last year. Ex-date: 4th May 2026 Payment date: 6th May 2026 Dividend yield will be 3.4%, which is lower than the industry average of 5.6%. Major Estimate Revision • Feb 28
Consensus EPS estimates fall by 12% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from €145.4m to €143.0m. EPS estimate also fell from €0.398 per share to €0.351 per share. Net income forecast to grow 117% next year vs 24% growth forecast for Retail REITs industry in Italy. Consensus price target up from €4.20 to €4.83. Share price rose 6.5% to €4.37 over the past week. Announcement • Feb 28
Immobiliare Grande Distribuzione SIIQ S.p.A. announces Annual dividend, payable on May 06, 2026 Immobiliare Grande Distribuzione SIIQ S.p.A. announced Annual dividend of EUR 0.1500 per share payable on May 06, 2026, ex-date on May 04, 2026 and record date on May 05, 2026. Price Target Changed • Feb 18
Price target increased by 9.6% to €4.20 Up from €3.83, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of €4.16. Stock is up 50% over the past year. The company is forecast to post earnings per share of €0.27 next year compared to a net loss per share of €0.27 last year. Announcement • Feb 07
Immobiliare Grande Distribuzione SIIQ S.p.A. to Report Q4, 2025 Results on Feb 26, 2026 Immobiliare Grande Distribuzione SIIQ S.p.A. announced that they will report Q4, 2025 results at 10:00 AM, Central European Standard Time on Feb 26, 2026 Major Estimate Revision • Dec 18
Consensus EPS estimates fall by 11% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate fell from €0.303 to €0.27. Revenue forecast unchanged from €142.1m at last update. Net income forecast to grow 141% next year vs 48% growth forecast for Retail REITs industry in Italy. Consensus price target up from €3.83 to €3.93. Share price was steady at €3.39 over the past week. Reported Earnings • Nov 13
Third quarter 2025 earnings released Third quarter 2025 results: EPS: €0.063. Revenue: €35.3m (up 2.9% from 3Q 2024). Net income: €6.96m (up €6.46m from 3Q 2024). Profit margin: 20% (up from 1.5% in 3Q 2024). Revenue is forecast to stay flat during the next 3 years compared to a 4.8% decline forecast for the Retail REITs industry in Europe. Over the last 3 years on average, earnings per share has increased by 10% per year whereas the company’s share price has increased by 5% per year. Reported Earnings • Aug 06
Second quarter 2025 earnings released Second quarter 2025 results: Revenue: €35.3m (flat on 2Q 2024). Funds from operations (FFO) loss: €10.2m (flat on 2Q 2024). Revenue is forecast to stay flat during the next 3 years compared to a 4.4% decline forecast for the Retail REITs industry in Europe. Upcoming Dividend • May 05
Upcoming dividend of €0.10 per share Eligible shareholders must have bought the stock before 12 May 2025. Payment date: 14 May 2025. Trailing yield: 3.3%. Lower than top quartile of Italian dividend payers (5.5%). Lower than average of industry peers (5.6%). Announcement • Mar 17
Immobiliare Grande Distribuzione SIIQ S.p.A., Annual General Meeting, Apr 16, 2025 Immobiliare Grande Distribuzione SIIQ S.p.A., Annual General Meeting, Apr 16, 2025, at 10:30 W. Europe Standard Time. Announcement • Mar 15
Immobiliare Grande Distribuzione SIIQ S.P.A. Announces Annual Dividend, Payable on May 14, 2025 Immobiliare Grande Distribuzione SIIQ S.p.A. announced Annual dividend of EUR 0.1000 per share payable on May 14, 2025, ex-date on May 12, 2025 and record date on May 13, 2025. New Risk • Mar 12
New minor risk - Dividend sustainability The dividend is not well covered by earnings. Payout ratio: 0% Dividend yield: 3.7% This is considered a minor risk. Companies that pay out too much of their earnings are at risk of having to reduce or cut their dividend in future. If earnings growth slows or earnings fall, then there may not be enough earnings to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. However, this risk is mitigated by the fact the dividend is covered by cash flows. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.5x net interest cover). Minor Risk Dividend is not well covered by earnings (0% payout ratio). Buy Or Sell Opportunity • Mar 06
Now 21% undervalued The stock has been flat over the last 90 days, currently trading at €2.63. The fair value is estimated to be €3.30, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Buy Or Sell Opportunity • Feb 07
Now 21% undervalued Over the last 90 days, the stock has risen 24% to €2.79. The fair value is estimated to be €3.53, however this is not to be taken as a buy recommendation but rather should be used as a guide only. New Risk • Jan 31
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Italian stocks, typically moving 5.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.5x net interest cover). Minor Risk Share price has been volatile over the past 3 months (5.7% average weekly change). Price Target Changed • Dec 22
Price target increased by 8.8% to €2.93 Up from €2.69, the current price target is an average from 4 analysts. New target price is 19% above last closing price of €2.46. Stock is up 7.0% over the past year. The company is forecast to post a net loss per share of €0.17 next year compared to a net loss per share of €0.74 last year. Price Target Changed • Dec 04
Price target increased by 9.4% to €2.78 Up from €2.54, the current price target is an average from 4 analysts. New target price is 9.9% above last closing price of €2.53. Stock is up 15% over the past year. The company is forecast to post a net loss per share of €0.17 next year compared to a net loss per share of €0.74 last year. Reported Earnings • Nov 10
Third quarter 2024 earnings released Third quarter 2024 results: EPS: €0.005. Revenue: €34.3m (down 8.0% from 3Q 2023). Net income: €500.0k (down 94% from 3Q 2023). Profit margin: 1.5% (down from 22% in 3Q 2023). Revenue is expected to fall by 2.2% p.a. on average during the next 3 years compared to a 3.1% decline forecast for the Retail REITs industry in Europe. Reported Earnings • Aug 04
Second quarter 2024 earnings released: €0.093 FFO loss per share (vs €0.14 loss in 2Q 2023) Second quarter 2024 results: €0.093 FFO loss per share (improved from €0.14 loss in 2Q 2023). Revenue: €35.2m (down 8.0% from 2Q 2023). Funds from operations (FFO) loss: €10.3m (loss narrowed 35% from 2Q 2023). Revenue is expected to fall by 2.9% p.a. on average during the next 3 years compared to a 3.4% decline forecast for the Retail REITs industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 56 percentage points per year, which is a significant difference in performance. Reported Earnings • May 08
First quarter 2024 earnings released First quarter 2024 results: EPS: €0.039. Revenue: €38.2m (down 7.0% from 1Q 2023). Net income: €4.30m (down 71% from 1Q 2023). Profit margin: 11% (down from 36% in 1Q 2023). Revenue is expected to fall by 4.6% p.a. on average during the next 3 years compared to a 3.0% decline forecast for the Retail REITs industry in Europe. Reported Earnings • Apr 19
Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2023 results: FFO per share: €0.5 (down from €0.61 in FY 2022). Revenue: €156.3m (up 2.9% from FY 2022). Funds from operations (FFO): €55.4m (down 18% from FY 2022). FFO margin: 36% (down from 44% in FY 2022). Revenue exceeded analyst estimates by 3.0%. Earnings per share (EPS) also surpassed analyst estimates. Revenue is expected to fall by 4.3% p.a. on average during the next 3 years compared to a 3.1% decline forecast for the Retail REITs industry in Europe. Over the last 3 years on average, earnings per share has fallen by 27% per year and the company’s share price has also fallen by 27% per year. Price Target Changed • Mar 15
Price target decreased by 11% to €2.39 Down from €2.68, the current price target is an average from 4 analysts. New target price is 64% above last closing price of €1.46. Stock is down 46% over the past year. The company is forecast to post earnings per share of €0.33 next year compared to a net loss per share of €0.74 last year. Reported Earnings • Feb 29
Full year 2023 earnings released: €0.74 loss per share (vs €0.20 loss in FY 2022) Full year 2023 results: €0.74 loss per share (further deteriorated from €0.20 loss in FY 2022). Revenue: €156.7m (up 3.1% from FY 2022). Net loss: €81.7m (loss widened 266% from FY 2022). Revenue is expected to fall by 3.9% p.a. on average during the next 3 years compared to a 3.1% decline forecast for the Retail REITs industry in Europe. Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has only fallen by 21% per year, which means it has not declined as severely as earnings. Price Target Changed • Dec 19
Price target decreased by 11% to €2.66 Down from €3.00, the current price target is an average from 4 analysts. New target price is 17% above last closing price of €2.28. Stock is down 26% over the past year. The company is forecast to post a net loss per share of €0.36 next year compared to a net loss per share of €0.20 last year. Reported Earnings • Nov 10
Third quarter 2023 earnings released: EPS: €0.073 (vs €0.11 in 3Q 2022) Third quarter 2023 results: EPS: €0.073 (down from €0.11 in 3Q 2022). Revenue: €37.3m (up 7.1% from 3Q 2022). Net income: €8.11m (down 34% from 3Q 2022). Profit margin: 22% (down from 35% in 3Q 2022). Revenue is expected to fall by 3.0% p.a. on average during the next 3 years compared to a 2.6% decline forecast for the Retail REITs industry in Europe. Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings. Price Target Changed • Oct 06
Price target decreased by 8.1% to €2.85 Down from €3.10, the current price target is an average from 4 analysts. New target price is 39% above last closing price of €2.05. Stock is down 25% over the past year. The company is forecast to post a net loss per share of €0.36 next year compared to a net loss per share of €0.20 last year. Price Target Changed • Aug 10
Price target decreased by 8.4% to €3.00 Down from €3.28, the current price target is an average from 4 analysts. New target price is 23% above last closing price of €2.43. Stock is down 36% over the past year. The company is forecast to post a net loss per share of €0.36 next year compared to a net loss per share of €0.20 last year. Reported Earnings • Aug 03
Second quarter 2023 earnings released: €0.14 FFO loss per share (vs €0.15 loss in 2Q 2022) Second quarter 2023 results: €0.14 FFO loss per share (improved from €0.15 loss in 2Q 2022). Revenue: €38.7m (up 3.6% from 2Q 2022). Funds from operations (FFO) loss: €15.8m (loss narrowed 5.6% from 2Q 2022). Revenue is expected to fall by 2.8% p.a. on average during the next 3 years compared to a 3.9% decline forecast for the Retail REITs industry in Europe. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Reported Earnings • May 08
First quarter 2023 earnings released First quarter 2023 results: EPS: €0.13. Revenue: €41.1m (up 15% from 1Q 2022). Net income: €14.8m (up 2.4% from 1Q 2022). Profit margin: 36% (down from 41% in 1Q 2022). Revenue is expected to fall by 2.3% p.a. on average during the next 3 years compared to a 3.2% decline forecast for the Retail REITs industry in Europe. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Upcoming Dividend • May 01
Upcoming dividend of €0.30 per share at 10% yield Eligible shareholders must have bought the stock before 08 May 2023. Payment date: 10 May 2023. Trailing yield: 10%. Within top quartile of Italian dividend payers (5.1%). Higher than average of industry peers (6.7%). Price Target Changed • Mar 14
Price target decreased by 9.7% to €3.28 Down from €3.63, the current price target is an average from 4 analysts. New target price is 17% above last closing price of €2.81. Stock is down 33% over the past year. The company is forecast to post earnings per share of €0.61 next year compared to a net loss per share of €0.20 last year. Reported Earnings • Feb 25
Full year 2022 earnings released: FFO per share: €0.6 (vs €0.59 in FY 2021) Full year 2022 results: FFO per share: €0.6 (up from €0.59 in FY 2021). Revenue: €152.0m (flat on FY 2021). Funds from operations (FFO): €67.2m (up 3.8% from FY 2021). FFO margin: 44% (up from 43% in FY 2021). Revenue is expected to decline by 2.6% p.a. on average during the next 3 years, while revenues in the REITs industry in Europe are expected to grow by 3.1%. Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has fallen by 19% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Jan 30
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to €2.76, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 10x in the REITs industry in Europe. Total loss to shareholders of 46% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €2.97 per share. Major Estimate Revision • Jan 29
Consensus EPS estimates fall by 79% The consensus outlook for fiscal year 2022 has been updated. 2022 EPS estimate fell from €0.457 to €0.097. Revenue forecast unchanged from €142.5m at last update. Net income forecast to shrink 4.6% next year vs 49% decline forecast for REITs industry in Italy. Consensus price target down from €4.43 to €4.08. Share price fell 12% to €2.96 over the past week. Price Target Changed • Jan 27
Price target decreased by 13% to €4.08 Down from €4.68, the current price target is an average from 4 analysts. New target price is 38% above last closing price of €2.96. Stock is down 27% over the past year. The company is forecast to post earnings per share of €0.41 for next year compared to €0.48 last year. Board Change • Nov 16
High number of new directors There are 8 new directors who have joined the board in the last 3 years. Independent Director Silvia Benzi was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Major Estimate Revision • Nov 10
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 EPS estimate fell from €0.61 to €0.46. Revenue forecast unchanged from €142.5m at last update. Net income forecast to grow 19% next year vs 36% decline forecast for REITs industry in Italy. Consensus price target down from €4.68 to €4.43. Share price rose 3.0% to €3.09 over the past week. Reported Earnings • Nov 05
Third quarter 2022 earnings released Third quarter 2022 results: EPS: €0.11. Revenue: €34.5m (down 8.4% from 3Q 2021). Net income: €12.2m (down 22% from 3Q 2021). Profit margin: 36% (down from 42% in 3Q 2021). Revenue is forecast to stay flat during the next 3 years compared to a 4.7% growth forecast for the REITs industry in Europe. Price Target Changed • Nov 04
Price target decreased to €4.43 Down from €4.90, the current price target is an average from 4 analysts. New target price is 48% above last closing price of €3.00. Stock is down 28% over the past year. The company is forecast to post earnings per share of €0.61 for next year compared to €0.48 last year. Buying Opportunity • Aug 04
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 13%. The fair value is estimated to be €4.71, however this is not to be taken as a buy recommendation but rather should be used as a guide only. For the next 3 years, revenue is forecast to decline by 1.0% per annum. Earnings is forecast to grow by 1.9% per annum over the same time period. Buying Opportunity • Jun 10
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 13%. The fair value is estimated to be €4.73, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 3.5% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to decline by 0.8% per annum. Earnings is forecast to grow by 1.5% per annum over the same time period. Buying Opportunity • May 09
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 2.4%. The fair value is estimated to be €4.89, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 3.3% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to decline by 1.4% per annum. Earnings is forecast to grow by 4.3% per annum over the same time period. Upcoming Dividend • May 02
Upcoming dividend of €0.35 per share Eligible shareholders must have bought the stock before 09 May 2022. Payment date: 11 May 2022. Trailing yield: 7.9%. Within top quartile of Italian dividend payers (4.7%). Higher than average of industry peers (4.2%). Board Change • Apr 27
High number of new directors There are 8 new directors who have joined the board in the last 3 years. Independent Director Silvia Benzi was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 28
Full year 2021 earnings: Revenues exceed analyst expectations Full year 2021 results: Revenue: €151.8m (flat on FY 2020). Funds from operations (FFO): €55.4m (flat on FY 2020). FFO margin: 37% (in line with FY 2020). Revenue exceeded analyst estimates by 6.8%. Over the next year, revenue is forecast to grow 1.4% while thereits industry in Italy is not expected to grow. Price Target Changed • Dec 15
Price target increased to €4.85 Up from €4.43, the current price target is an average from 3 analysts. New target price is 29% above last closing price of €3.76. Stock is up 2.3% over the past year. The company is forecast to post earnings per share of €0.21 next year compared to a net loss per share of €0.67 last year. Reported Earnings • Nov 06
Third quarter 2021 earnings released: EPS €0.14 The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: €37.6m (up 3.8% from 3Q 2020). Net income: €15.7m (down 10% from 3Q 2020). Profit margin: 42% (down from 48% in 3Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 87 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 09
Second quarter 2021 earnings released The company reported a solid second quarter result with improved earnings and profit margins, although revenues were flat. Second quarter 2021 results: Revenue: €38.3m (flat on 2Q 2020). Funds from operations (FFO): €16.8m (up 78% from 2Q 2020). FFO margin: 44% (up from 25% in 2Q 2020). Reported Earnings • May 11
First quarter 2021 earnings released: EPS €0.093 (vs €0.14 in 1Q 2020) The company reported a poor first quarter result with weaker earnings, revenues and profit margins. First quarter 2021 results: Revenue: €38.4m (down 4.0% from 1Q 2020). Net income: €10.3m (down 31% from 1Q 2020). Profit margin: 27% (down from 37% in 1Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 93 percentage points per year, which is a significant difference in performance. Price Target Changed • May 11
Price target decreased to €4.25 Down from €4.63, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of €4.28. Stock is up 30% over the past year. Reported Earnings • Mar 03
Full year 2020 earnings released: €0.67 loss per share (vs €0.11 profit in FY 2019) The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2020 results: Revenue: €152.7m (down 5.8% from FY 2019). Net loss: €74.3m (down €86.9m from profit in FY 2019). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 80 percentage points per year, which is a significant difference in performance. Analyst Estimate Surprise Post Earnings • Mar 03
Revenue beats expectations, earnings disappoint Revenue exceeded analyst estimates by 0.3%. Earnings per share (EPS) missed analyst estimates by 21%. Over the next year, revenue is forecast to grow 2.2%, compared to a 4.2% growth forecast for the REITs industry in Italy. Is New 90 Day High Low • Feb 08
New 90-day high: €3.81 The company is up 17% from its price of €3.26 on 10 November 2020. The Italian market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the REITs industry, which is up 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €4.74 per share. Is New 90 Day High Low • Jan 19
New 90-day high: €3.78 The company is up 33% from its price of €2.84 on 21 October 2020. The Italian market is up 13% over the last 90 days, indicating the company outperformed over that time. It also outperformed the REITs industry, which is up 13% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €4.93 per share. Is New 90 Day High Low • Dec 28
New 90-day high: €3.75 The company is up 28% from its price of €2.94 on 29 September 2020. The Italian market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the REITs industry, which is up 15% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €5.00 per share. Is New 90 Day High Low • Dec 09
New 90-day high: €3.70 The company is up 19% from its price of €3.10 on 10 September 2020. The Italian market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the REITs industry, which is up 10.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €4.04 per share. Analyst Estimate Surprise Post Earnings • Nov 15
Revenue and earnings miss expectations Revenue missed analyst estimates by 3.6%. Earnings per share (EPS) also missed analyst estimates by 67%. Over the next year, revenue is expected to shrink by 2.2% compared to a 1.2% decline forecast for the REITs industry in Italy. Is New 90 Day High Low • Nov 11
New 90-day high: €3.26 The company is up 2.0% from its price of €3.21 on 12 August 2020. The Italian market is flat over the last 90 days, indicating the company outperformed over that time. It also outperformed the REITs industry, which is down 7.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €4.13 per share. Reported Earnings • Nov 08
Third quarter 2020 earnings released: EPS €0.16 The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2020 results: Revenue: €36.6m (down 10.0% from 3Q 2019). Net income: €17.5m (up 15% from 3Q 2019). Profit margin: 48% (up from 38% in 3Q 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 103% per year but the company’s share price has only fallen by 37% per year, which means it has not declined as severely as earnings. Analyst Estimate Surprise Post Earnings • Nov 08
Revenue and earnings miss expectations Revenue missed analyst estimates by 3.6%. Earnings per share (EPS) also missed analyst estimates by 67%. Over the next year, revenue is expected to shrink by 2.4% compared to a 2.0% growth forecast for the REITs industry in Italy. Is New 90 Day High Low • Oct 15
New 90-day low: €2.90 The company is down 19% from its price of €3.58 on 17 July 2020. The Italian market is down 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the REITs industry, which is down 13% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €3.85 per share. Is New 90 Day High Low • Sep 22
New 90-day low: €3.01 The company is down 10.0% from its price of €3.36 on 24 June 2020. The Italian market is down 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the REITs industry, which is down 7.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €4.53 per share.