TAG Immo slides after plans to suspend dividend

TAG Immobilien AG

14/11/2023 07:24

** Shares of TAG Immobilien  TEGG.DE  drop around 6% in
early Frankfurt trade after the German real estate company said
it planned to suspend its dividend for 2023
    ** Baader Helvea says that consensus or 50% of the analyst
had still an estimate of EUR 0.45 on average
        ** The company also announced its 2024 guidance for FFO
I of EUR 170-174 mln, unchanged compared to 2023
  
    ** FFO I came in at 132.6 million euros in 9-month, down
8.7%, the company adds
    ** "9-month figures and FY24 guidance are minimal below
expectations, but not a shocker," a local trader says
    ** The stock is at the bottom of the German mid-caps index
 .MDAXI 

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