DIC Asset AG : Institutional business segment is becoming more important for DIC
>Q2 2019 results in line with our expectations - At the end of last week, DIC published its Q2 2019 results, which were in line with our expectations. Gross rental income (GRI) for Q2 2019 was just slightly down -1.4% y-o-y to € 25.2m, in line with our estimate of € 24.6m. Fees from real estate management were up sharply, +143.9% y-o-y to € 8.3m and were also in line with our estimate of € 29.7m. The share of profit of associates of € 13.4m (+27.8% y-o-y) also came in...DIC Asset along with its subsidiaries invests directly or indirectly in German commercial real estate and operates in the area of portfolio, asset and property management. Co.'s business segments include: commercial portfolio, which comprises portfolio properties owned by Co., which are leased long-term and offer attractive rental yields; and co-Investments, which comprises fund investments, investments in project developments and joint venture investments. As of Dec 31 2013, Co. had six branches located in the Hamburg, Berlin, Dusseldorf, Frankfurt Am Main, Mannheim, and Munich.
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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