reports
- Manuel Martin
- CEFA
- CREA
ODDO BHF GERMAN MORNING NEWS – DETAILED COMMENTS 08.07.2018
Real estate privatisation company Accentro is well positioned in the booming Berlin real estate market and aims to expand its privatisation business in other attractive metropolitan regions in Germany by setting up local teams in the targeted regions. Based on our peer-group valuation we derive a target price of € 10.70, suggesting downside of c.5%. We thus initiate coverage on Accentro with a Neutral rating. - ...
- Manuel Martin
- CEFA
- CREA
Patrizia Immobilien AG : Solid Q2 2018 results, and AuM increased due ...
>Q2 2018 operating income as expected - Yesterday evening (06 Aug) Patrizia (PAT) published solid Q2 2018 results, which were in line with our estimates. (The company had already announced its H1 2018 operating profit of € 72.5m on 30 July.) PAT consolidated Rockspring for the first time in Q2 2018; in Q1 2018 it had consolidated TRIUVA for the first time. Revenues increased yoy to € 78.2m (Oddo BHFe: € 88.0m, we assumed higher sales proceeds from principal inves...
- Manuel Martin
- CEFA
- CREA
- Manuel Martin
- CEFA
- CREA
Patrizia Immobilien AG : Patrizia underlines its long-term view of its...
>Management’s long-term view of the RE asset management business - Yesterday (Monday, 16 July) we road-showed with Patrizia Immobilien’s investor relations (IR) in Brussels. IR underlined management’s long-term view on its position in the real estate asset management growth market, and outlined the reasons for the company’s substantial acquisitions in Q4 2017 (SPI, TRIUVA and Rockspring), which doubled Patrizia’s AUM from ~€ 20bn to ~€ 40bn and elevated it to rank 6 a...
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