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Grand City Properties SA ( (DE:GYC) ) has provided an update.
Grand City Properties reported a solid start to 2026, with Q1 net rental income rising 2% to €109 million and like-for-like rental growth of 3.5% supported by low vacancy of 3.6%. Adjusted EBITDA edged up to €86 million, while FFO I slipped to €46 million as higher finance costs weighed on results, though full-year FFO I guidance of €175 million to €185 million was reaffirmed.
The group maintained a conservative balance sheet with €1.6 billion in liquidity, a 32% loan-to-value ratio, and €6.4 billion in unencumbered assets, while continuing to recycle capital through selective disposals and new acquisitions in Germany and London. After fully refinancing its perpetual notes through a new €600 million issue, the board moved to reinstate a dividend of €0.30 per share for 2025 and set an ongoing payout policy of 50% of FFO I, signalling renewed confidence and offering investors a clearer income outlook.
More about Grand City Properties SA
Grand City Properties S.A. is a Luxembourg-based specialist in residential real estate focused on value-add opportunities in densely populated areas, primarily in Germany and London. The company acquires properties it can upgrade through repositioning and intensive tenant management, aiming to raise occupancy and rental levels and create long-term value for shareholders.
See more insights into GYC stock on TipRanks’ Stock Analysis page.