ACCENTRO REAL ESTATE AG
PRESS RELEASE Warburg Increases Target Price for ACCENTRO Shares to EUR 14.75 - "BUY" Recommendation Confirmed Berlin, 12 January 2021 - Warburg Research has increased its target price for shares of ACCENTRO Real Estate AG (ISIN DE000A0KFKB3) to EUR 14.75 and confirmed its "Buy" recommendation. Warburg's analysts also raised their revenue and earnings forecasts for 2021 and 2022, citing ACCENTRO's growth as a result of the acquisition of DIM Holding AG ("Deutsche Immobilien Management"). According to Warburg, the acquisition of one of Germany's leading real estate managers represents another major milestone in ACCENTRO's business development and allows the company to expand its business activities to complement its successful regional diversification, which has included the recent addition of 2,800 units to its real estate portfolio in Leipzig, Halle and Gera. The analysts at Warburg also highlighted ACCENTRO's evolution into a residential investor and portfolio holder in addition to its current core business of privatisation. The diversification of the business model, the analysts observed, reduces ACCENTRO's dependence on property sales and increases the visibility of the revenue stream, further stabilising the top line. The Warburg Research update can be accessed in the Investor Relations section of the ACCENTRO website: www.accentro.ag.
ACCENTRO Real Estate AG is Germany's market leader in housing privatisations. In addition to its home market of Berlin, the company focuses on auspicious metro regions such as Hamburg, Rhine-Ruhr and Leipzig. In its Privatisation business unit, ACCENTRO retails condominiums from its proprietary portfolio to owner-occupiers and buy-to-let investors or-bundled into portfolios-to institutional investors. In its Services & Ventures business unit, ACCENTRO sells apartments on behalf of investors and property developers-including through equity investments in its own right within the framework of joint ventures. ACCENTRO Real Estate AG is listed on the Prime Standard segment of the Frankfurt Stock Exchange (German securities code number WKN: A0KFKB, ISIN: DE000A0KFKB3). www.accentro.ag
Thomas Eisenlohr
Karl-Philipp Jann End of Media Release Issuer: Accentro Real Estate AG Key word(s): Real estate
12.01.2021 Dissemination of a Press Release, transmitted by DGAP - a service of EQS Group AG. |
| Language: | English |
| Company: | Accentro Real Estate AG |
| Kantstr. 44/45 | |
| 10625 Berlin | |
| Germany | |
| Phone: | +49 (0)30 - 887 181 - 0 |
| Fax: | +49 (0)30 - 887 181 - 11 |
| E-mail: | info@accentro.ag |
| Internet: | www.accentro.ag |
| ISIN: | DE000A0KFKB3 |
| WKN: | A0KFKB |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1159914 |
| End of News | DGAP Media |
1159914 12.01.2021
