Deutsche Konsum REIT-AG reports a profit of 22m in the FY 2015/16 and raises the aFFO forecast for 2016/17.
The company added 6 properties in the last quarter of the fiscal year for 5.3m with an initial yield of 11.8% and notarized a further 13 properties in calendar Q4 2016 for 41.3m with an initial yield of 11.6%. The total portfolio therefore now consists of 53 retail outlets with a total annual rent of 18.7m.
Following the strong FY results and the recent additions to the portfolio, the company confirms the guidance for the FY 2016/17 of 57c FFO per share and raises the aFFO guidance from 44c to 46c per share.
Rolf Elgeti, CEO of Deutsche Konsum REIT-AG, comments: "The fiscal year ending 30 September 2016 was the first since the listing of the company as a REIT. The FY profit looks strong and our current valuation yield of 10% quite conservative underlining the potential of further profit growth in the future. The recent acquisitions were highly accretive to our FFO and cash flow profile and we have thus reached the rental run rate needed to hit our forecasts for the current year. The REIT status of the company makes these cash flows particularly attractive to our investors. To reflect the increased size of the company we intend to apply for a listing on the Prime Standard in calendar Q1 2017."
End of Media Release
Issuer: Deutsche Konsum REIT-AG
Key word(s): Real estate
|Company:||Deutsche Konsum REIT-AG|
|Phone:||+49 (0)331 740076510|
|Listed:||Regulated Market in Berlin; Regulated Unofficial Market in Tradegate Exchange; Open Market in Frankfurt|
|End of News||DGAP Media|