ADLER Real Estate AG : High revaluation gain in Q3 leads us to lift our EPRA NAV p/s estimates
>Q3 2019 overall in line with our estimates – FY 2019 guidance confirmed - Adler Real Estate last week released its Q3 2019 results which were overall in line with our estimates except a high valuation gain.Earnings from property lettings of € 51.4m (-7.1% y-o-y) were slightly below our estimate of € 53.6m. Despite ADL having decided to report its revaluation gains in Q2 and Q4, the company reported a high revaluation gain of € 182m in Q3. EPS of € 1.63 increased...ADLER Real Estate provides commercial and residential project development services in the form of improvement, planning, development and construction, as well as asset management services and property management services. Adler is also engaged in the acquisition, sale, renting and financing of real estate. Co. also provides international and national joint venture activities and acts as co-investor in the acquisition of real estate portfolios.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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