Merlin Properties faced data center risk as target for Merlin Properties stock stayed EUR 17.60

Published on 10/08/2026 at 12:30 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Merlin Properties stock costs EUR 12.05 on October 8, 2026 after EUR 12.25. First-half FFO reached EUR 180 million in 2026, up 8 percent year on year.

Merlin Properties, ES0105025003, Illustration mit AI erstellt.

Merlin Properties stock (ISIN ES0105025003) was trading at EUR 12.05 at Lang & Schwarz on October 8, 2026, down 1.63 percent versus the prior close. The regulatory outlook for Spanish data centers is the key issue around the companys MEGA expansion plan.

Data center rules raise a risk

According to Bolsamania on September 22, 2026, Spain planned a data center decree for October. The report said the draft rules could leave 73.00 percent of the megawatts in Merlins three-stage MEGA plan viable.

The same report said 25.00 percent of the planned capacity was located in Lisbon and therefore outside the Spanish rules. That geographic split gives Merlin Properties some protection, but the companys Spanish pipeline remains exposed to renewable-power and hourly-correlation requirements.

Operating figures support the case

Bolsamania reported on September 11, 2026 that first-half 2026 FFO reached EUR 180 million, up 8.00 percent year on year. It also reported EUR 308 million of revenue and a company forecast for annual FFO of EUR 340 million.

The report cited a EUR 17.60 target from Renta 4 and an average target of EUR 17.36 across 21 analysts. The EUR 17.60 target is 46.06 percent above the Lang & Schwarz price of EUR 12.05, a comparison that highlights both the valuation gap and the regulatory execution risk.

For the balance sheet, the same analysis cited a 24.50 percent loan-to-value ratio and EPRA net tangible assets of EUR 15.99 per share. The combination of a 24.50 percent leverage ratio and data center expansion gives the stock a growth narrative, while power connections and Spanish regulation remain material variables.

Next results date is set

TradingView identifies Merlin Properties as BME:MRL and lists November 13, 2026 as the next reporting date for the third quarter of 2026. The company operates offices, logistics facilities, shopping centers and data centers across the Iberian Peninsula.

Stock trades at EUR 12.05

Merlin Properties stock was trading at EUR 12.05 at Lang & Schwarz on October 8, 2026 at 12:20 p.m. CEST, down 1.63 percent versus the prior close of EUR 12.25. Market capitalization was EUR 7.5 billion, while the primary-market 52-week range was EUR 11.72 to EUR 15.92. The further course of trading is shown by the continuously updated real-time quote of Merlin Properties stock.