S&P 500 may face selling pressure as systematic funds reach full exposure
Investing.com -- Shares of Unibail-Rodamco-Westfield (URW) fell 1.5% as the company’s first-quarter financial results revealed an adjusted recurring earnings per share (AREPS) for 2025 that was below consensus estimates by 2%. The reported net asset value (NAV) also came in 2% lower than expected, contributing to the stock’s decline.
URW announced a slight beat of its 2024 AREPS guidance, but the figure for 2025 disappointed analysts. Despite this, the company surprised investors positively by declaring a dividend of €3.5, exceeding Jefferies’ estimate of €3. The company’s NAV decreased by 0.5%, bringing it down to €111, which is €1 below the forecast for 2023.
The strategic decision to retain its Flagship assets in the United States also influenced investor sentiment. The potential exit from the U.S. market had previously been considered due to its impact on earnings, but the strength of the U.S. dollar and the robust performance of flagship centers over the past three years have made the case for retaining the U.S. portfolio more compelling.
Jefferies commented on the results, stating, "this print is slightly less positive than Klépierre’s."
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