TAG Immobilien AG : Better than expected FY 2019 results – 2020 guidance confirmed
>FFO I beat expectations; strong valuation gains - TAG reported yesterday (27 February) solid FY 2019 figures with FFO I slightly above consensus and strong valuation gains. Rental revenues of € 405.5m (+1.3% yoy) and net rental income of € 259.6m (+5.5 yoy) were above our expectations of € 394.2m and € 248.3m, respectively. Strong revaluation gains of € 414.1m (-3.7% yoy, +8.6% value up-lift) exceeded our estimate of € 355.6m. FFO I of € 160.6m (+9.6% yoy), translati...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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