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Gecina registers 1.1% YOY rise in gross rental income as of Sept. 30

Gecina said its gross rental income as of Sept. 30 amounted to €500.6 million, compared to €495.2 million in the year-earlier period, representing a rise of 1.1% on a current basis.

On a like-for-like basis, gross rental income increased 2.4% year over year, mainly due to an increase in indexation, as well as the positive impact of rental reversion on both offices and residential.

For offices, gross rental income was up 2.4% year over year on a like-for-like basis. For the traditional residential portfolio, rental income was up 2.4% on a like-for-like basis.

In reporting its earnings, the company said that as a result of ongoing negotiations, it could sign approximately €400 million of new preliminary sale agreements by the end of 2019.

The European landlord reconfirmed its 2019 guidance, expecting recurrent net income per share to increase by more than 3%, representing €5.80 to €5.85 per share.