Phiadvisor's Enter Long signal on Argan (ARG-FR)
Argan is a € 2.0 Bn market cap and engages in designing, building, developing, owning, leasing, and managing logistical platforms in France. It is also involved in the development and management of land. The company’s real estate property consists of a total area of 806,000 square meters. It serves shippers and logistics companies. The company is diversified as no single lease represents more than 3% of rental income, the top 14 tenants account for 80% of rents, spread across 60 sites while the 31 other tenants account for 20% of rents and < 1% of rents by site.
ARGAN exceeds its targets and is coming out of this year 2020 stronger, with rental income 2020 of €142m (+42% ) and a portfolio valued at €3bn (excluding transfer taxes), targets have been exceeded. Argan has announced that he wants to propose a dividend of 2.10 euros per share at the next annual general meeting, up 11%.
The company is now focused on the Promotion of carbon-neutral warehouses to be built. For existing warehouses, implementation of a plan for reducing CO2 emissions by 7,000 t representing 20% of gas heating emissions.
Short term catalyst: Dividend regular increase, e-commerce megatrend .
This signal looks mainly company specific.