LEG Immo jumps after FY guidance hike

Adler SA

30/06/2023 08:37

(Adds milestone, peer performance, broker comment)
    ** Shares of LEG Immobilien  LEGn.DE  rise 5% after the
German real estate firm raised its 2023 outlook on Thursday
    ** The company sees adjusted funds from operations (AFFO) at
around 165–180 million euros vs previous expectation of 125–140
million euros
    ** It says it hiked guidance due to one-time effects as
lower excess profit taxation on electricity production and
cancellation of new development activities
    ** It also raises rental growth forecast to 3.8%–4.0% for
2023, compared to 3.3–3.7% previously
    ** A local trader says the increased rental growth outlook
is the biggest positive from an operational viewpoint
    ** "Overall, positive statements concerning the rental
business and continued low visibility on future price trends,"
Baader Helvea says
    ** Shares are on track for their best day in 4.5 months and
are among top performers on STOXX 600 index  .STOXX 
    ** Shares of Aroundtown  AT1.DE  and Adler Group  ADJ.DE 
are up 1.7% and 1.5%, respectively

 (Reporting by Anastasiia Kozlova)
 ((Anastasiia.Kozlova@thomsonreuters.com))