Qatar-Backed Kasada Targets First North Africa Hotel Deal
The hospitality-focused firm, whose backers include the Qatar Investment Authority and French hotel group Accor SA, has set up an office in Casablanca to assess opportunities and aims to close a fund for investments in Morocco by year-end.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Insider
8 minutes ago
- Business Insider
Kepler Capital Sticks to Its Hold Rating for Accor SA (0H59)
In a report released on July 31, Julien Richer from Kepler Capital maintained a Hold rating on Accor SA, with a price target of €48.00. The company's shares closed last Thursday at €44.69. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. According to TipRanks, Richer is a 3-star analyst with an average return of 2.8% and a 49.50% success rate. Richer covers the Consumer Cyclical sector, focusing on stocks such as Accor SA, Compass, and SSP Group plc. In addition to Kepler Capital , Accor SA also received a Hold from Deutsche Bank 's Andre Juillard in a report issued yesterday. However, on the same day, Morgan Stanley maintained a Buy rating on Accor SA (LSE: 0H59).
Yahoo
35 minutes ago
- Yahoo
WisdomTree Inc (WT) Q2 2025 Earnings Call Highlights: Strategic Acquisition and Record AUM ...
Release Date: August 01, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points WisdomTree Inc (NYSE:WT) announced the acquisition of Ceres Partners, a leading US farmland investment manager, which is expected to accelerate revenue growth and expand margins. The acquisition is expected to raise at least $750 million into farmland-focused strategies by 2030, potentially doubling the current base and performance fee revenues. WisdomTree Inc (NYSE:WT) reported record AUM of $126 billion as of June 30th, driven by strong inflows across regions and asset classes. The company's European Defense Fund has attracted significant inflows, contributing to organic growth at an annualized rate of 12%. WisdomTree Inc (NYSE:WT) is seeing meaningful traction in digital assets, with AUM in digital assets more than doubling since last quarter, reaching $500 million. Negative Points The acquisition of Ceres Partners involves a significant upfront cash payment of $275 million and a potential earnout of up to $225 million, contingent on achieving revenue growth targets. Foreign exchange headwinds could adversely impact discretionary expense guidance by approximately $3 million if current exchange rates hold. The performance fees from Ceres Partners are largely driven by the mark-to-market of the farmland portfolio, which may fluctuate depending on market conditions. There are concerns about the predictability and consistency of performance fees, which are not episodic and depend on the net profits of the fund. The integration of Ceres Partners involves managing a portfolio of 540 properties, which requires annual appraisals and could involve additional operational complexities. Q & A Highlights Warning! GuruFocus has detected 6 Warning Signs with CPT. Q: Can you explain the fund structure and fundraising plans for the acquisition of Ceres Partners? A: Jeremy Schwartz, Head of Global Research, explained that Ceres operates an evergreen fund structure, which is designed to be a long-term partner for farmers, unlike traditional drawdown funds. This structure aligns well with WisdomTree's client base, which includes institutions, RIAs, and advisors, and will benefit from WisdomTree's strong distribution capabilities. Q: How durable and predictable are the performance fees from Ceres Partners? A: Brian, CFO, clarified that performance fees are largely driven by the mark-to-market valuation of the farmland portfolio. The fund's properties generate steady rental income, and historically, farmland has appreciated at about 6% annually. Performance fees are based on net profits and are not dependent on asset realizations, offering a consistent revenue stream. Q: Why not add farmland to your model portfolios given the competitive opportunities? A: Jonathan Steinberg, CEO, indicated that WisdomTree is considering adding farmland allocations to their model portfolios and selected ETFs. The farmland asset class is highly attractive and underappreciated, with minimal competition from major asset managers, presenting a significant growth opportunity. Q: What are the expectations for the model's business for the rest of the year? A: Jarrett Lilien, President and COO, stated that the focus is on expanding user engagement with existing models and acquiring new users. The company is on track with its goals and aims to continue this momentum through consistent execution. Q: How do you plan to accelerate the growth of Ceres Partners, and what is the profitability outlook for management and performance fees? A: Jonathan Steinberg, CEO, mentioned that WisdomTree's distribution capabilities will help broaden Ceres's reach to financial intermediaries and high-net-worth clients. Brian, CFO, added that management fee revenues are expected to double by 2030, with performance fees growing 1.5 to 2 times, driven by historical farmland appreciation rates. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
Yahoo
35 minutes ago
- Yahoo
Agree Realty Corp (ADC) Q2 2025 Earnings Call Highlights: Robust Investment Growth and ...
Investment Volume: Over $725 million invested year-to-date, more than double compared to the first half of last year. Full Year Investment Guidance: Raised to $1.4 billion to $1.6 billion, a 58% increase over last year's total investment volume. Liquidity: Total liquidity of $2.3 billion, with no material debt maturities until 2028. Net Debt to Recurring EBITDA: 3.1 times at quarter end. AFFO Per Share Guidance: Raised by $0.02 to a range of $4.29 to $4.32, representing over 4% growth at the midpoint. Acquisition Volume: $328 million across 91 retail net lease assets with a weighted average cap rate of 7.1%. Development and DSP Platforms: Construction continued on 14 projects with costs over $90 million; 25 projects completed or under construction in the first half of the year. Portfolio Size: Surpassed 2,500 properties across all 50 states with 232 ground leases. Occupancy Rate: 99.6% at quarter end. Core FFO Per Share: $1.05 for the second quarter, a 1.3% increase year-over-year. AFFO Per Share: $1.06 for the quarter, a 1.7% year-over-year increase. Dividend: Monthly cash dividends of $0.256 per common share, equating to an annualized dividend of over $3.07 per share, a 2.4% year-over-year increase. Warning! GuruFocus has detected 9 Warning Signs with ADC. Release Date: August 01, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points Agree Realty Corp (NYSE:ADC) invested over $725 million in the first half of 2025, more than doubling the investment compared to the same period last year. The company raised its full-year investment volume guidance to a range of $1.4 billion to $1.6 billion, indicating strong growth expectations. ADC's balance sheet is robust, with over $2.3 billion in total liquidity and no material debt maturities until 2028. The company has expanded its team by adding over 20 new members and implemented AI and machine learning tools to enhance operational efficiency. ADC raised its full-year AFFO per share guidance by $0.02, demonstrating consistent and reliable earnings growth. Negative Points Consumer sentiment has deteriorated, which could impact retail demand and performance. The company anticipates a credit loss impact of 25 to 50 basis points on its AFFO per share guidance, reflecting potential tenant credit issues. ADC's stock is trading at lower levels, which could affect treasury stock method dilution and impact AFFO per share. The macroeconomic environment remains uncertain, with potential tariff headwinds that could affect retailer and consumer health. The company faces challenges with certain tenants, such as At Home, which is anticipated to face bankruptcy, impacting ADC's portfolio. Q & A Highlights Q: Can you provide some color about your ATM activity in Q2 and the timing given your overnight equity offering in late April? A: The ATM activity during the quarter all predated the overnight offering in April. After the overnight offering, we promised investors that we would be inactive in the capital markets, and we held that promise. Joey Agree, President, Chief Executive Officer, Director Q: Given the macro headline volatility, how are you thinking about retailer and consumer health right now? A: Consumer health has undoubtedly deteriorated, at least in terms of sentiment. However, this benefits our portfolio, which focuses on core, durable goods and necessity-based retailers. The biggest and best operators are gaining market share, and we will continue to focus on these areas. Joey Agree, President, Chief Executive Officer, Director Q: Can you talk about the opportunities you see in the development and funding platform (DFP) business? A: We are excited about the opportunities, with plans to break ground on a minimum of $100 million in projects before year-end. This includes over 10 projects with some of the country's largest retailers. Our goal is to be a full-service real estate company, not just a spread investor. Joey Agree, President, Chief Executive Officer, Director Q: What is your view on the impact of tariffs on construction costs for your development projects? A: We estimate that tariffs could impact total project costs by about 1.5%. However, we generally have a contingency of 7% to 10% in projects, so we are not concerned about the current tariff environment affecting our construction costs significantly. Joey Agree, President, Chief Executive Officer, Director Q: How does the development and DFP pipeline contribute to your earnings algorithm? A: The development and DFP platforms are additive to our acquisition volume, providing both qualitative and quantitative benefits. They help build holistic relationships with retailers and differentiate us as a real estate company in the net lease space. Joey Agree, President, Chief Executive Officer, Director For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
