LEG Immobilien

LEG Immobilien's share price has fallen by over 25% year-to-date, weighed down by rising interest rates and discussions about nationalizing housing stock. CEO Lars von Lackum cites an average external financing rate of 1.8% and, with an annual refinancing need of around €1 billion, expects a manageable additional burden of €20–30 million. While smaller portfolio transactions continue to work, the market for large disposals has stalled. As of 30 June, EPRA-NTA stood at €10.5 billion versus a stock market valuation of about €3.5 billion; nonetheless, price risk from possible further rate increases remains high and the share is technically searching for a floor. » More on finanzen.net

LEG must refinance around one billion euros per year; the average external financing rate is 1.8 percent, and the recent rise in interest rates has caused additional costs of about €20–30 million. According to CEO Lars von Lackum, this extra burden is offset by comparable rent increases. The transaction market for larger portfolios remains weak, though smaller sales of up to around €5 million are possible. The joint project Renowate is not performing as hoped; continued involvement depends on Renowate reaching breakeven this year. » More on finanzen.net

LEG CEO Lars von Lackum warns of the social consequences of expropriating residential properties and stresses that ownership guarantees individual freedom. He is banking on a planned federal law intended to prevent expropriations in the German states and does not expect spillover effects in the western German regions where LEG operates. The stock fell slightly at times on XETRA. » More on finanzen.net