Deutsche Wohnen SE : FFO I in line but valuation gains lower than expected; Deutsche Wohnen poised to double its nursing home business
>2018 FFO I guidance confirmed - Deutsche Wohnen (DWNI) published its Q2 2018 results yesterday (14 Aug) with valuation gains lower than expected and FFO in line with our estimate. Rental revenues rose +4.5% yoy to € 194.8m and slightly exceeded our estimate of € 193.0m. DWNI posted revaluation gains of € 677.5m, missing our estimate of € 988.5m. FFO I p/s of € 0.35 was a touch above our estimate of € 0.34. Lfl rental growth came in at 4.6% (Q2 2017: 3.9%). Management...Deutsche Wohnen is a holding company. Co.'s business focus is on residential and nursing properties in conurbations and metropolitan areas of Germany. Co. conducts its operations through three segments: asset/property management, disposal and nursing. Co.'s asset/property management segment includes all activities relating to the management and administration of residential property, the management of rental contracts and tenant support. Co.'s disposal segment comprises the disposal of residential units and portfolios managed by its Deutsche Wohnen Corporate Real Estate GmbH subsidiary. Co.'s nursing segment manages and markets retirement and nursing homes for senior citizens.
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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