Argan Raises 2026 Rental Income Target to €222M After 5% Nine-Month Growth
AGX sits 47% above its 52-week low of $255.6 on light trading volume (0.3× avg).
Summary
Argan reported nine-month rental income of €166.2 million, up 5% year-over-year, driven by full-year contributions from 2025 deliveries and rent indexation. The company raised its full-year 2026 rental income target to at least €222 million, also up 5% from 2025, citing strong performance and solid Q4 prospects. Occupancy remains near full at 99.9%. Seven developments have been delivered this year under a €200 million investment program, with three more scheduled by year-end. This follows the July announcement of an all-share merger with WDP to form a €13 billion European logistics REIT, with a shareholder vote set for November 20. The raised guidance and continued delivery pipeline reinforce the company's growth trajectory ahead of the merger.
At the time of this announcement, AGX was trading at $375.14 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $5.3B. The 52-week trading range was $255.60 to $805.75. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: GlobeNewswire.