TAG Immobilien AG : Q3 slightly better than expected and a confident outlook for 2019
>Q3 FFO I p/s was a touch above our forecast and consensus - On Tuesday, 30 October, TAG reported solid Q3 2018 figures a touch above expectations and also gave a better than expected outlook for 2019. Rental revenues of € 98.8mm (+2.7% yoy) were in line with our estimate (€ 98.2m), while net rental income (NRI) of € 61.5m (+4.5% yoy) was slightly below our forecast (€ 62.3m) but in line with consensus (€ 61.4m). FFO I p/s of € 0.26 (+10.7% yoy) was a touch above our ...TAG Immobilien is engaged in the acquisition, development and management of residential real estate as well as property sales. Co. operates within two segments: residential and commercial. Co.'s residential property portfolio is concentrated in the regions of Thuringia / Saxony, the greater metropolitan areas of Berlin and Hamburg, and the Salzgitter and North Rhine-Westphalia regions while its commercial portfolio is situated in locations such as Hamburg, Berlin and Munich. As of Dec 31 2013, Co.'s portfolio consisted of 70,587 units and comprised of 4,582,344 sq. m. of floor area.
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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