checkAd

     184  0 Kommentare SRH AlsterResearch AG Update: FCR Immobilien AG - Portfolio expansion continues; BUY reiterated

    FCR executed on another significant transaction, acquiring a portfolio of 8 commercial properties with a total leasable area of 7.500 m² and an estimated value of EUR 7m (eAR).

    FCR Immobilien AG (Update)

    Real Estate
    MCap EUR 119m

    BUY, PT EUR 14.80 (+21% potential)
    Research_update

    FCR executed on another significant transaction, acquiring a portfolio of 8 commercial properties with a total leasable area of 7.500 m² and an estimated value of EUR 7m (eAR). Together with earlier transactions, YTD investments amount to EUR 27m. We believe that FCR is on a good track to invest the earmarked EUR 160m in 2021, allowing for an FFO to once again double in 2021E - close to EUR 10m (eAR). As such, FCR’s business model looks intact in our view with the aim to grow its retail property portfolio in established secondary locations in Germany with less competitive pressure and ultimately higher average yield potential. We therefore reiterate to BUY with unchanged PT of EUR 14.80 (based on our DCF model and comparable company analysis), allowing for an upside potential of c. 21%

     

    For 5 current investment ideas, check our Weekly Screener. This week we are looking for companies that have the highest Return on Capital Employed (ROCE)

    Please note that AlsterResearch publishes MiFID II compliant research only. For a detailed discussion on MiFID II, please visit https://www.research-hub.de

    Diskutieren Sie über die enthaltenen Werte


    AlsterResearch AG
    0 Follower
    Autor folgen
    Mehr anzeigen
    Bei der AlsterResearch AG handelt es sich um ein unabhängiges (Aktien)-Analysehaus mit Fokus auf deutschen Nebenwerten (Small & MidCaps).
    Mehr anzeigen
    RSS-Feed abonnieren

    Weitere Artikel des Autors


    Verfasst von AlsterResearch AG
    1 im Artikel enthaltener WertIm Artikel enthaltene Werte
    SRH AlsterResearch AG Update: FCR Immobilien AG - Portfolio expansion continues; BUY reiterated FCR executed on another significant transaction, acquiring a portfolio of 8 commercial properties with a total leasable area of 7.500 m² and an estimated value of EUR 7m (eAR). Together with earlier transactions, YTD investments amount to EUR 27m. We believe that FCR is on a good track to invest the earmarked EUR 160m in 2021, allowing for an FFO to once again double in 2021E - close to EUR 10m (eAR).