|Bid||79.38 x 7700|
|Ask||79.46 x 26800|
|Day's Range||77.52 - 80.50|
|52 Week Range||76.16 - 139.80|
|Beta (5Y Monthly)||0.41|
|PE Ratio (TTM)||3.74|
|Earnings Date||Aug 10, 2022|
|Forward Dividend & Yield||4.07 (4.98%)|
|Ex-Dividend Date||May 20, 2022|
|1y Target Est||131.53|
German landlord Adler said on Tuesday it expects rival LEG Immobilien to exercise the option to buy Adler's remaining 63% stake in property investor BCP, which owns about 12,000 apartments in Germany, before deadline in September. In a bid to reduce debt, Adler had already sold roughly 30,000 apartments - nearly half of its portfolio - and other assets between late 2021 and early 2022. This included the sale of a 6.8% stake in BCP to LEG with an option to buy the rest.
BERLIN (Reuters) -German real estate investor Adler Group said on Monday it had agreed to sell residential and commercial property worth 1.49 billion euros ($1.73 billion) to rival LEG Immobilien in a bid to reduce its debt. Adler expects net proceeds from the transaction, which should take place by end-2021, to be around 800 million euros. The sales price for the 15,350 apartments and 185 commercial units will be slightly below the property valuation as Adler will keep a 10.1% stake for tax reasons, it added.
German property group LEG Immobilien is looking at expanding abroad and would also consider buying flats from Vonovia or Deutsche Wohnen should their merger go through, its CEO told Reuters on Tuesday. Germany's two biggest listed landlords Vonovia and Deutsche Wohnen have revived merger plans that are controversial in Germany because of tensions over soaring rents ahead of general elections in September. "If there are opportunities abroad we would look at that," CEO Lars von Lackum said in an interview, adding that neighbouring countries such as the Netherlands or Denmark were of interest.