2023-07-25 08:06:19
Lar España is in full digestion of one of the biggest rises in the stock market in its history. The action marked maximums of the year on July 12 at 6.15 euros. A level not seen since the first quarter of 2020 from which it has corrected in the last eight sessions. Now it is fighting to definitively overcome the resistance of 6 euros in full collection of benefits.
The winning balance on the stock market of the Socimi specialist in shopping centers is spectacular this year. Rack up a big 40% raise which at times has allowed it to recover the 500 million euros of market capitalization. A tremendously important level for a European listed company, for which a jump above that level can change its life on the Stock Market.
The reason is that many large funds have limited investment to companies with a value greater than 500 million of euros. Many large managers consider that it is from this bar where there are minimum guarantees of liquidity on the stock market. Or, what is the same, Lar España has changed its status and now has many more potential buyers of shares.
The price rally has a lot to do with expectations. Next Friday, July 28, the company will present the results of the first half of the year. The market is waiting for the play of the accounts of the first three months of the year to be repeated, when the company presented profits of 31.9 million euros, almost five times more than in the same period of the previous year.
Then, the accounts were received with a large rise of 4.69% that allowed Lar to jump above 5 euros on the Stock Market. From then until now it has done nothing but improve positions in the parquet, supported by the purchases of investors who are betting on the ‘retail’ business, which at the moment they assign more attractive than other segments such as offices.
The market is valuing the resistance of the company, which has occupancy levels of 96% in its shopping centers, with a low level of defaults. And also the group’s dividend yield, which is among the highest in the Spanish continuous market, around 11%. Investors expect Lar to ratify its shareholder remuneration policy in the presentation of the semi-annual accounts.
With the wind in favor, Lar has one of the best and most solid recommendations on the market. Currently, more than 80% of the analysts who follow the stock give it a buy recommendation, with an average target price of around 7.5 euros. Therefore, the socimi would still have a theoretical journey of 25% from the current levels.
An upward path that, if confirmed, would make Lar the emerging socimi on the Spanish stock market. Its large rise of 40% contrasts with the difficulties suffered by the two giants, Merlin Properties and Colonial, to enter positive records on the stock market in 2023. Both companies have improved their performance on the stock market given the expectations of a slowdown in the rise in rates, but they are still at levels very similar to those that began the year.
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