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Demire: Critical words

Demire’s rental income rose by 15 percent to 44 million euros in the first half of the year. The EBIT drops significantly to 22 million euros. Overall, the analysts at SRC Research rate the current figures as satisfactory, but they easily miss the estimates.

Further acquisitions are expected by the end of the year. However, some seem to have been delayed. For the year as a whole, the experts expect rental income of 87.3 million euros (old: 89.2 million euros) according to the latest findings. The FFO is said to be 37.6 million euros (old: 40.1 million euros).

The upcoming Annual General Meeting should approve a dividend, which is basically to be seen as positive. The majority shareholder is aiming for a full distribution, which would be EUR 0.54 per share. The experts see this as too high. This will significantly reduce liquidity. It is better to invest parts of the dividend in expanding the portfolio.

As before, there is a buy recommendation for the shares of Demire. The target price drops from EUR 5.70 to EUR 5.50.

Demire’s shares gain today 5.3 percent to 4.78 euros.

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