Austria's CA Immobilien Q1 rental income falls

CA Immobilien Anlagen AG

20/05/2026 17:14

Overview

Austria real estate firm's Q1 gross rental income fell 18% yr/yr

Net rental income declined 15% yr/yr, occupancy rate remained high at 95%

Company disposed of three non-core assets in Q1, improving portfolio quality

Outlook

CA Immobilien expects continued challenges from geopolitical tensions and inflation risks in Europe

Company sees further expansion of prime office portfolio in Berlin and Munich, with more non-core disposals in CEE

CA Immobilien expects Berlin projects to add €28m annualized gross rental income and €650m asset value upon completion

Result Drivers

PORTFOLIO SHRINKAGE - Gross rental income and net rental income declined due to sale of income-generating properties, reducing leasable area by 23% yr/yr

COST MANAGEMENT - Lower vacancy costs and higher efficiency limited the decline in net rental income

LIKE-FOR-LIKE GROWTH - Annualized gross rental income for properties held in both periods rose 2% yr/yr

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 FFO I
EUR 25.9 mln
Q1 EBITDA
EUR 33.9 mln


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the real estate rental, development & operations peer group is "buy."

Wall Street's median 12-month price target for CA Immobilien Anlagen AG is €27.25, about 7.9% above its May 19 closing price of €25.25

The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 13 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)