Hotels

Irish real estate stocks trading below replacement cost

  • Sectors : Hotels
  • Companies : IRES REIT | Dalata Hotel Group | Hibernia REIT

Ratings

Ratings and price correct at time of issue

Company Rating Date Previous Rating Date Closing Price
Dalata Hotel Group OUTPERFORM 09/09/14 Under Review 03/09/14 330c
Hibernia REIT OUTPERFORM 11/11/14 N/A N/A 116c
IRES REIT OUTPERFORM 08/05/15 N/A N/A 131c

DAVY VIEW

Equity market weakness following the outbreak of COVID-19 means that listed Irish real estate stocks in both the commercial real estate market and the private rental sector (PRS) now have valuations that are below replacement cost. If this persists, then we can expect a significant reduction in new supply. The market is now pricing in a downcycle in Ireland.

Download full report with analyst certification and important disclosures

Mar 10 2020, 13:50 GMT

Download