Icade shares rose on Tuesday on the Paris Bourse, with the market taking advantage of the announcement of an upcoming investor day to take positions on the stock.

The real estate group plans to invite the financial community to a meeting on February 19 at its Paris Orly-Rungis park, a 388,000 m2 complex of offices, business premises and a hotel welcoming some 12,000 people every day.

The event will provide an opportunity to present the company's annual results for 2023, as well as detailing the group's strategic orientations and medium-term outlook.

Analysts at Invest Securities recall that, following the finalization of the first stage in the sale of Icade Santé last July, initial ideas were presented by the new CEO, Nicolas Joly.

We understood that management intended to reposition part of the portfolio of tertiary assets, in the hope of improving the market's perception of Icade Santé, which was currently downgraded", recalls the research firm.

In a note, Invest mentions the possibility of adding a new business line, in data centers for example, via a "transforming" acquisition.

The research firm points out, however, that the timing and selling price of phases 2 and 3 of the Icade Santé divestment project appear less clear today, particularly in view of the difficulties encountered by real estate funds following the rise in interest rates.

From the analysts' point of view, the finalization of the transaction could take longer than anticipated, perhaps until 2026, which will in turn determine the ambitions and pace of deployment of the new strategic plan.

Listed on the Paris Bourse, Icade shares gained 1.7% after these announcements.

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