IGD’s stock price rose 15.2% in 2019 and provided a Total Shareholder Return of 25.5%. Even at recent levels, however, the stock is still trading at an ample discount compared to its NNNAV per share of €10.92 and the consensus target price of €7.83 which indicates that the stock is still significantly undervalued.
The second half of the year was witness to the launch of “Social Borgo. Verso un Centro Commerciale partecipato”, a project that well represents how IGD intends to give its shopping centers a new role, broader in scope than just a place for shopping, which also reflects the specific needs of each community.
2019 was the first year of the three- year Business Plan 2019-2021. Aware of the challenging path we have undertaken in a weak global environment and an increasingly complex scenario for retail, in this first year we completed a significant number of investment projects and finalized a series of debt optimization transactions which have put us in a position to benefit as quickly as possible from the growth in FFO that these initiatives should trigger.
