Deutsche Industrie REIT-AG : We have updated our model and confirm our Buy recommendation
>We have updated our model - We have updated our model based on the information given during Deutsche Industrie´s (DIR) Q2 2019-20 reporting in May. The company stated during its earnings reporting that its rent collection for April stood at 87%. That said, we now assume in our model that DIR´s collection rate of 87% will last for three months in its current business year 2019-20e and that the according deferred rents will be almost entirely recovered in FY 2020-21e. ...Deutsche Industrie REIT-AG, formerly Deutsche Industrie Grundbesitz AG, is a Germany-based company that operates as a real estate investment trust (REIT). The Company is engaged in acquisition, leasing, management and sale of light industrial real estate. The Company focuses primarily on macro-locations with infrastructurally well-connected transport networks and local relevance. Its goal is to generate constant, sustainable and profit-oriented revenue growth by means of additional acquisitions, ongoing investments in the existing real estate property and strategic asset and portfolio management. The Company's portfolio includes more than 20 industrial properties with more than 480,000 square meters of rental space in total, all located within Germany.
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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