LEG Immo rises after FY AFFO beat, dividend proposal

LEG Immobilien SE

11/03/2024 07:49

** LEG Immobilien's  LEGn.DE  shares rise around 2% in early
trade after the German real estate firm reported a small
full-year results beat and said it would propose a
higher-than-expected dividend 
    ** LEG Immobilien reported an adjusted FFO of 181.2 million
euros, "a bit better than expected", J.P.Morgan says citing a 2%
beat on consensus expectations
    ** The company said it would propose a dividend of 2.45
euros per share, 12% ahead of consensus, JPM says
    ** "Overall, we think these results are a bit better than
expected, and see the dividend combined with comments around
values stabilizing in 2024 as encouraging for the share price"
J.P Morgan writes
    ** LEG Immobilien's stock rises to the top of Germany's
mid-caps index  .MDAXI 

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