LEG Immobilien

For nine months LEG reports an adjusted AFFO increase of 4.9% to €190.1 million. Rent on comparable space rose 3.9% with a vacancy rate of 2.5%. For 2026 the company expects adjusted AFFO of €220–240 million and for 2027 €230–250 million. Rising interest rates are weighing on property values; accordingly LEG expects write-downs of its portfolio in the second half of the year and that an LTV of around 45% will no longer be achievable in 2026. » More on handelsblatt.com

After nine months LEG reports adjusted AFFO of €190.1 million (+4.9%), like‑for‑like rents rose 3.9% and the vacancy rate is 2.5%. For 2026 the company expects adjusted AFFO of €220–240 million and for 2027 €230–250 million. Because of high interest rates LEG expects write‑downs of the property portfolio in the second half, making an LTV of around 45% for 2026 unlikely to be achievable. » More on handelsblatt.com

LEG increased AFFO in the first nine months by 4.9% to €190.1m, significantly beating analyst estimates; AFFO per share rose to €2.47. Rents grew like‑for‑like by 3.9% and the vacancy rate remained low at 2.5%. On the balance sheet, loan‑to‑value stands at 46.5% and the targeted LTV of around 45% for 2026 is no longer achievable, partly due to lower disposals and expected portfolio value write‑downs. The AFFO full‑year guidance of €220–240m remains intact, and the company is targeting €230–250m for 2027. In addition, Grand City Properties now holds 20.04% of LEG and can increase its stake to up to 29.9%. » More on deraktionaer.de

After nine months LEG recorded an adjusted cash inflow (AFFO) of €190.1 million (+4.9%), like‑for‑like rents rose 3.9% and the vacancy rate stood at 2.5%. For 2026 the company expects AFFO of €220–240 million and for 2027 €230–250 million. Due to higher interest rates LEG expects a revaluation downwards of the property portfolio in the second half of the year, meaning a target LTV of around 45% for 2026 is unlikely to be achievable; additionally, Grand City Properties has increased its stake to 20.04%. » More on handelsblatt.com

Grand City Properties has taken just over a 20 percent stake in LEG and describes the position as a financial investment. The news drove LEG shares significantly higher; Grand City and major shareholder Aroundtown also gained. Analysts called the stake surprising and do not necessarily expect it to be permanent, especially given refinancing needs; an increase to up to 29.9 percent or a reduction/sale are being considered. It was also pointed out that there could be a one‑off non‑cash gain due to the share price trading at a discount to book value. » More on finanzen.net