Corestate Capital Holding S.A. : We lower our target price due to COVID-19 – however, real estate transaction market might recover in Q4 and normalise thereafter
>Guidance and dividend proposal withdrawn - payout ratio reduction - Corestate´s share price has lost c.50% in a three-month period due to the COVID-19 crisis. The company expects income from acquisitions, performance fees, warehousing and alignment capital to fall and maybe to normalise in Q4 2020. Therefore, Corestate has withdrawn its FY 2020e guidance and 2019 dividend proposal of c.€ 55m (€ 2.60 p/s). Corestate also reduced its dividend payout ratio from c.50% to...Corestate Capital holding is a holding company. With its group companies, Co. offers a range of real estate investment management services, such as investment, fund, asset, property and facility management. Co.'s product offering primarily covers residential, commercial and microliving assets (including developments) and addresses all risk/return profiles, i.e. from core/core plus to value add/opportunisitc. Clients include semi-institutional investors (HNWIs and family offices) as well as institutional investors. Co.'s key market is Germany. Additional activities focus on other European countries such as Austria and Spain as well as the Benelux countries.
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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