Eurocommercial Properties NV (N4SA) Stock Price & Analysis
N4SA Stock Chart & Stats
- Day’s Range
- EUR 24.90 - EUR 24.90
- 52-Week Range
- EUR 24.35 - EUR 29.05
- Previous Close
- EUR 24.35
- Volume
- N/A
- Average Volume (3M)
- 5
- Market Cap
- EUR 1.54B
- Enterprise Value
- EUR 3.08B
- Total Cash (Recent Filing)
- EUR 31.55M
- Total Debt (Recent Filing)
- EUR 1.67B
- Price to Earnings (P/E)
- 7.6
- Beta
- 0.43
- Next Earnings
- Mar 03, 2027 (Est.)
- EPS Estimate
- N/A
- Next Dividend Ex-Date
- N/A
- Dividend Yield
- 7.42%
Bulls Say, Bears Say
Bulls Say
High Occupancy And Rental Growth
Exceptionally low vacancy and positive rental uplifts demonstrate strong tenant demand across the portfolio. Broad retail sales and footfall growth support the durability of rental income, while active leasing and reletting can sustain cash earnings as leases mature.
Revenue And Profitability Rebound
The multi-year revenue increase and sharp return to profitability indicate that the portfolio is again producing substantial earnings. Although property valuations can create volatility, stronger operating income improves the company’s capacity to fund investment, dividends, and debt service.
Moderate Leverage And Funding Visibility
Moderate leverage provides a relatively stable foundation for a property company, while the limited near-term amortization schedule gives management time to refinance. Stable or rising equity and planned hedging further support financial flexibility through the next several quarters.
Bears Say
Cash Conversion Is Weakening
Positive cash generation is a strength, but declining free cash flow and operating cash flow below accounting earnings indicate weaker conversion quality. If this persists, internally generated funds may cover less of investment, dividends, or debt obligations and reduce capital-allocation flexibility.
Persistent Weakness In France
France is showing weaker operating momentum than the other markets, as footfall has not translated into comparable retailer sales growth and tenant financial deterioration has raised provisions. Continued softness could constrain rental growth and create additional income pressure.
Higher Financing Costs And Rate Exposure
Rising interest expense directly reduces the spread between property income and funding costs. Although most debt is hedged, the remaining floating exposure leaves earnings sensitive to EURIBOR and STIBOR, while acquisition financing could keep financing costs elevated.
Eurocommercial Properties NV News
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Company Description
Eurocommercial Properties NV
Eurocommercial began by investing in a range of countries, making its initial foray into France in 1992 with the acquisition of the Les Atlantes shopping centre in Tours. Its first Italian purchase, Curno in Bergamo, took place in 1994. The company expanded into the Swedish market in 2001 and subsequently re-entered Belgium in 2018, acquiring the Woluwe shopping centre. With a portfolio of shopping centres now valued at €4.1 billion, Eurocommercial is recognized as one of Europe's most experienced property investors.
- Sector
- General
- Industry
- REIT - Retail
- CEO
- Evert Jan van Garderen
- Employees
- 98
- Website
- www.eurocommercialproperties.com
- Address
- De Boelelaan 7, Amsterdam, NH, 1083 HJ, NL
Eurocommercial Properties NV (N4SA) Earnings & Revenues
N4SA Earnings Call
Earnings Call SentimentPositive
The call was predominantly positive. Management reported broad-based footfall and retail sales growth, strong leasing activity, low vacancy, improved direct investment results, successful acquisitions, a resilient balance sheet, and significant expected benefits from remerchandising projects in 2027. The main challenges were temporary project disruption, weaker French performance, higher bad debt provisions, higher net interest expenses, currency exposure, and a cautious decision to reaffirm rather than raise guidance.
View all DE:N4SA earnings summariesTechnical Analysis
Overall Consensus
| Indicator | Bullish | Neutral | Bearish |
|---|---|---|---|
| Overall Consensus | 5 | 5 | 12 |
| Technical Analysis | 3 | 5 | 2 |
| Moving Averages | 2 | 0 | 10 |







