IGD SIIIQ S.p.A. (IGD) AI Stock Analysis

• Market Cap: €347.58M
• Dividend Yield: 3.17%
• Average Volume (3M): 152.08K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.70
• Revenue Growth: -7.63%
• EPS Growth: 64.37%
• Country: IT
• Employees: 139
• Sector: Real Estate
• Sector Strength: 57
• Industry: REIT - Diversified
• EPS (TTM): 0.01
• Shares Outstanding: 110,341,900
• 10 Day Avg. Volume: 97,418
• 30 Day Avg. Volume: 152,083
• PEG Ratio: 1.42
• Price to Book (P/B): 0.36
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 20.77
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: €3.50
• Price Target Upside: 11.11% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1

• Rating: 61 Neutral
• Price Target: €3.50 ▲(11.11%Upside)

The overall stock score is primarily influenced by positive technical momentum and operational improvements in financial performance. However, the negative P/E ratio highlights profitability issues, which weigh down the valuation score. The technical analysis indicates strong upward momentum, contributing significantly to the score.

Positive Factors

Dividend Proposal

The board has proposed a DPS of Eu0.10, about double the expectation, thanks to the recent securing of a credit facility enabling the reimbursement of outstanding bonds in their entirety.

Financial Guidance

There is potential for an upgrade in the financial guidance due to improvements in rental upsides and lower financial costs.

Refinancing Benefits

The Eu615mn refinancing signed recently is highly positive, as it enables the rescheduling of maturities, a reduction of the cost of debt, and the cancelation of the constraints on payment of a voluntary dividend.

Stock Valuation

The company's shares are trading at a significant discount to the estimated net asset value, suggesting potential for price appreciation.

Negative Factors

Net Income Impact

Net income was impacted mainly by the higher than expected adjustment of portfolio FV.

IGD SIIIQ S.p.A. Business Overview & Revenue Model

Company Description

IGD SIIIQ S.p.A. is an Italian real estate investment trust (REIT) specializing in the retail property sector. The company primarily focuses on the acquisition, development, and management of shopping centers and retail parks. IGD operates a portfolio of commercial properties located in key urban and suburban areas across Italy, providing space for a variety of retail tenants. Its core services include property leasing, asset management, and the enhancement of retail environments to attract both tenants and consumers.

How the Company Makes Money

IGD SIIIQ S.p.A. generates revenue primarily through the leasing of retail spaces within its shopping centers and retail parks. The company's key revenue streams include rental income from tenants, which comprises a fixed monthly rent and turnover-based variable rents tied to the sales performance of retail tenants. Additionally, IGD may earn income from service charges and marketing fees related to property management services. The company also benefits from property appreciation and value-add initiatives, such as redevelopment and refurbishment projects, which can lead to increased rental income and property valuations. Strategic partnerships with retailers and a focus on maintaining high occupancy rates further contribute to IGD's earnings. The company's financial performance is influenced by factors such as consumer spending trends, retail market dynamics, and the quality and location of its property portfolio.

IGD SIIIQ S.p.A. Financial Statement Overview

Summary

IGD SIIIQ S.p.A. faces challenges with declining revenues and inconsistent profitability, impacting its overall financial health. While the balance sheet reflects a manageable debt level, the negative equity return and cash flow conversion issues highlight potential risks. The company needs to stabilize its income statement metrics to improve overall financial performance.

Income Statement

The company's revenue has been declining over recent years, with negative net income reported. The gross profit margin remains relatively stable, but the net profit margin is negative. EBIT margin shows significant variation, suggesting volatility in operating performance.

Balance Sheet

The company maintains a moderate debt-to-equity ratio, indicating a balanced capital structure. However, the equity ratio has been decreasing, reflecting a growing reliance on liabilities. Return on equity is negative due to the net losses, representing a concern for shareholders.

Cash Flow

The cash flow from operations is positive, providing sufficient coverage for capital expenditures. However, free cash flow growth is inconsistent, and the relationship between cash flow from operations and net income indicates inefficiencies in converting income to cash.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	135.58M	137.03M	148.62M	144.79M	145.53M	146.29M
Gross Profit	104.77M	107.88M	112.61M	108.59M	121.50M	122.86M
EBITDA	80.42M	41.29M	-28.81M	98.80M	112.96M	-57.41M
Net Income	-32.86M	-30.08M	-81.73M	-22.32M	52.77M	-74.32M
Balance Sheet
Total Assets	1.84B	1.85B	2.06B	2.21B	2.41B	2.48B
Cash, Cash Equivalents and Short-Term Investments	6.16M	4.74M	6.07M	27.07M	158.08M	117.34M
Total Debt	37.91M	808.63M	974.67M	1.00B	1.14B	1.27B
Total Liabilities	870.16M	883.21M	1.06B	1.09B	1.23B	1.36B
Stockholders Equity	972.17M	970.27M	1.00B	1.12B	1.17B	1.11B
Cash Flow
Free Cash Flow	16.65M	27.07M	54.20M	50.29M	59.97M	39.19M
Operating Cash Flow	33.42M	46.46M	77.38M	82.98M	78.68M	54.03M
Investing Cash Flow	146.99M	137.35M	-23.18M	-32.70M	95.16M	-14.81M
Financing Cash Flow	-184.41M	-185.14M	-75.16M	-181.33M	-133.01M	-50.46M

IGD SIIIQ S.p.A. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 3.15
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IT:IGD, the sentiment is Positive. The current price of 3.15 is above the 20-day moving average (MA) of 3.12, above the 50-day MA of 3.04, and above the 200-day MA of 2.67, indicating a bullish trend. The MACD of 0.03 indicates Positive momentum. The RSI at 57.43 is Neutral, neither overbought nor oversold. The STOCH value of 45.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IT:IGD.

IGD SIIIQ S.p.A. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IGD	61 Neutral	€347.58M	―	-3.32%	3.17%	-7.63%	64.37%
Sector *	61 Neutral	AU$2.88B	8.41	4.17%	6.31%	17.25%	41.52%
ABT	54 Neutral	€81.71M	13.58		―	-87.00%	94.16%