Added to YB: 2024-10-24
Pitch date: 2024-09-30
MRL.MC [bullish]
MERLIN Properties SOCIMI, S.A.
+11.62%
current return
Author Info
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Company Info
MERLIN Properties SOCIMI, S.A. (MC:MRL) is the largest real estate company trading on the Spanish Stock Exchange.
Market Cap
EUR 5.1B
Pitch Price
EUR 10.88
Price Target
N/A
Dividend
2.29%
EV/EBITDA
21.82
P/E
16.33
EV/Sales
16.72
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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