Fair Value REIT-AG announced the earnings results for the first quarter ended March 31, 2017. For the quarter, the company reported operating result was EUR 3.5 million as compared to EUR 2.8 million a year ago. This was primarily due to the increase in net rental income within the group from EUR 3.7 million to EUR 4.3 million against net rental income of EUR 3.7 million a year ago. Group net profit improved from EUR 0.9 million to EUR 1.7 million and funds from operations (FFO) increased from EUR 1.6 million to EUR 1.8 million. This corresponds to FFO per share in the first quarter of 2017 of EUR 0.13 compared to EUR 0.11 in the previous-year period. IFRS earnings per share were EUR 0.12 against EUR 0.06 a year ago.

The company reaffirmed earnings results guidance for the year 2017. For the year, the company expects funds from operations (FFO) before non-controlling interests to range between EUR 9.6 million and EUR 10.2 million and after non-controlling interests to range between EUR 6.1 million and EUR 6.4 million. This figure corresponds to between EUR 0.43 and EUR 0.46 per share.

The announced dividend target of EUR 0.25 per share for the fiscal year 2017 is also confirmed.