ADLER Real Estate AG : We scale back our FFO I projections – Target price reduced to € 12.0 from € 14.6
>Q1 2021 somewhat below our estimates – 2021e guidance confirmed - On 31 May Adler Real Estate (ADL) published its Q1 2021 results, which came in somewhat below our forecasts due to property disposals, among other things. The company confirmed its 2021e guidance of FFO I of € 70m-75m. Earnings from property lettings of € 50m were unchanged at +0.2% y-o-y and slightly below our estimate of € 52.2m. Despite ADL having decided in the past to report its revaluation g...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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