Added to YB: 2026-08-04
Pitch date: 2026-07-31
MRL.MC [neutral]
MERLIN Properties SOCIMI, S.A.
-1.14%
current return
Author Info
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 14.92
Price Target
N/A
Dividend
2.79%
EV/EBITDA
29.85
P/E
10.21
EV/Sales
21.52
Sector
Diversified REITs
Category
N/A
20.2# Descartes: Merlin Properties
MRL.MC (exited position): Spanish SOCIMI (offices, logistics, malls, data centers) exited Sept 2024 at 23.3% MWR. Bought Mar 2022 on inflation-indexed rents & prime asset durability. Exited on data center concerns: 5-7yr GPU lifespan means high recurring capex, dilutive share issuance, rising complexity eroding stable cash flow thesis. Ismael Clemente departing.
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