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Davy Research

IRES REIT

Undervalued, financially strong with structural growth opportunities

Sep 15 2023, 07:00 IST/BST
Colin Grant
Company Report
22 page(s)

Sectors : Real Estate

Companies : IRES REIT

Ratings and price correct at time of issue.

IRES REIT

Closing Price: 99.2c
RATING 08/05/15
OUTPERFORM
PREVIOUS RATING N/A

Person's Name

Colin Grant

Analyst

DAVY VIEW

IRES has traded to levels where we see an opportunity. The implied gross passing and reversionary yields are attractive, and the recent disposals have materially strengthened the balance sheet. The structural imbalance in the Irish rental market continues and is likely to provide growth opportunities over time.

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Sep 15 2023, 07:00 IST/BST