Vonovia SE : Target price lowered as we now project a rather flattish EPRA NTA trajectory but Vonovia is likely to maintain its dividend payout ratio
>Q3 2022 results were overall in line –2022e guidance confirmed - On Friday (4 November), Vonovia (VNA) published Q3 2022 figures which were overall in line with our expectations and mainly driven by the full consolidation of Deutsche Wohnen (DWNI). VNA confirmed its 2022e Group FFO (unadjusted) guidance of € 2,000m-2,100m.Muted initial outlook on 2023e which is not a really a surprise - VNA provided a muted initial guidance for 2023e which was howeve...Vonovia is a residential real estate company based in Germany. Co. maintains 357,117 residential units and a portfolio worth approximately Euro24.1 billion in cities and regions throughout Germany. Co. manages residential units, garages and parking spaces as well as commercial units. Co. focuses on customer orientation and tenant satisfaction, offering tenants affordable, attractive and livable homes, as well as offering additional real estate-related services. Co.'s residential units are located in contiguous settlements at approximately 770 locations in 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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