Vonovia SE : Target price lowered but residential rental cash flows should remain reliable
>Headwinds from increasing interest rates and rising inflation - The valuation and stock prices of German residential companies have fallen due to headwinds from increasing interest rates and rising inflation. This has negatively affected Vonovia (VNA) too, despite having reported in May Q1 2022 figures broadly in the range of expectations with i/ a +7.9% y-o-y increase in adjusted Group FFO p/s of € 0.70 driven by a higher contribution from VNA´s development activiti...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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