German landlord Aroundtown rises on FFO I outlook hike

Aroundtown SA

28/08/2024 07:46

** Share in German landlord Aroundtown  AT1.DE  rise 2.2% in
early Frankfurt trade after it raised its annual outlook for FFO
I, a key metric measuring funds from operations
    ** The Luxembourg-based firm forecasts FFO I of 290-320
million euros ($323-357 million) for the year, vs previous
forecast of 280-310 million euros
    ** "Overall, the FFO upgrade will be welcomed but with high
leverage we continue to prefer pure play office and residential
names elsewhere in Europe," J.P.Morgan writes
    ** The Aroundtown shares top Germany's mid-cap index
 .MDAXI  in early Frankfurt trade

($1 = 0.8973 euros)

 (Reporting by Tristan Veyet in Gdansk)
 ((Tristan.chabba@thomsonreuters.com))