Western Union-Rodhamco-Westfield reports the lowest vacancy rate since 2017

LootboxPhobia · 2026-02-12T14:00:40+00:00

Western Union-Rodhamco-Westfield announces fiscal year 2025 results, with vacancy rates falling to the lowest since 2017. Adjusted earnings per share are €9.58, in line with expectations. The dividend proposal is €4.50 per share, a growth of approximately 30%. For 2026, earnings per share are expected to range from €9.15 to €9.30, with plans to increase dividends.

LootboxPhobia

2026-02-12 14:00:40

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Investing.com – Unibail-Rodamco-Westfield (EPA:URW) announced its full-year 2025 results on Thursday, showing the lowest vacancy rate since 2017, indicating that premium shopping centers continue to attract market interest.

The company’s 2025 fiscal year AREPS (Adjusted Recurring Earnings Per Share) was €9.58, down 3% year-over-year due to €1.6 billion in asset disposals completed in 2025. The result was largely in line with analyst expectations, with UBS forecasting €9.52 and market consensus at €9.47.

EPRA NTA (Net Tangible Assets) per share increased by 1.6% year-over-year to €112.8, driven by positive revaluations across all markets (+1.7%), with Europe up 1.8% and the U.S. up 1.2%.

The company demonstrated strong operational performance, with tenant sales up 3.9% year-over-year and foot traffic increasing by 1.9%. By region, tenant sales in Europe grew 3.4%, while flagship stores in the U.S. increased 5.2%.

The EPRA vacancy rate fell to 4.6%, with Europe at 3.3% and the U.S. at 6.3%, the lowest vacancy rates since 2017. Long-term leases exceeding 36 months accounted for 82% of MGR, and the average rent across the entire portfolio increased by 6.7%.

URW will propose a dividend of €4.50 per share, approximately 30% higher than the previous year.

For 2026, the company expects AREPS to be between €9.15 and €9.30, exceeding the previous “at least €9.15” forecast. The company also plans to distribute €5.50 per share in 2026, representing about a 60% payout ratio, with an increase to 60-70% in 2027.

The company has already achieved its original asset disposal target of €2.2 billion, scheduled for completion by mid-2026.

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