Added to YB: 2024-10-24
Pitch date: 2024-09-30
MRL.MC [bullish]
MERLIN Properties SOCIMI, S.A.
+31.24%
current return
Author Info
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Company Info
MERLIN Properties SOCIMI, S.A. is one of the largest real estate and infrastructure companies listed on the Spanish Stock Exchange.
Market Cap
EUR 9.3B
Pitch Price
EUR 10.72
Price Target
N/A
Dividend
2.79%
EV/EBITDA
29.85
P/E
10.21
EV/Sales
21.52
Sector
Diversified REITs
Category
value
Show full summary:
Third Avenue International Real Estate Value Fund Portfolio Holding: MERLIN Properties
MRL.MC: Spanish REIT with $13B portfolio. Sold bank branches pre-rate hikes, reducing debt. Developing data centers: 60mW @ 10%+ yield, $2.3B pipeline for 200mW more. Spain/Portugal well-positioned for data centers. Trading below book value despite upside potential. Diversified portfolio generates strong cash flow.
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