Germany's real estate stocks rise on hopes 'it can only get better'

Adler SA

02/01/2023 10:36

** Shares of German real estate companies rise in the first
trading session of 2023 with Adler Group  ADJ.DE , Aroundtown
 AT1.DE  and TAG Immobilien  TEGG.DE  the biggest gainers
    ** Investors are buying the shares that collapsed last year
in the hope it can only get better, a local trader says, adding
that the property sector has lost the most overall in 2022
    ** Aroundtown, which slumped nearly 60% last year, rises
6.6% at 1030 GMT on Monday and tops STOXX 600  .STOXX  index
     ** Vonovia  VNAn.DE , up 3.5%, tops the German blue-chip
index  .GDAXI , while TAG Immobilien (+5.5%) is the best
performer among German mid-caps  .MDAXI 
    ** LEG Immobilien  LEGn.DE , Grand City Properties  GYC.DE 
and Deutsche Wohnen  DWNG.DE  are >2% up, while Adler Group
surges 10.0%
 (Reporting by Anastasiia Kozlova)
 ((Anastasiia.Kozlova@thomsonreuters.com))