LEG Immo rises on FY guidance hike

LEG Immobilien SE

30/06/2023 07:40

** Shares of LEG Immobilien  LEGn.DE  jump 5% in early
Frankfurt trade 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
    ** "The most positive from an operational viewpoint is the
increased rental growth outlook," a local trader says
    ** The stock tops the German mid-caps index  .MDAXI 

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