FRANKFURT (dpa-AFX) - In an otherwise robust sector environment, the shares of Patrizia came under significant pressure on Thursday. According to traders, the key data presented the evening before after the close of trading was mixed. After three positive trading days recently, which resulted in a total share price increase of eleven percent, the news was not enough for a further rise.

While the shares of the real estate company fell by almost eight percent, the European sector index Stoxx Europe 600 Real Estate recovered by half a percent from its lowest level since the end of November. As the sector is very sensitive to interest rates, investors are eagerly awaiting inflation signals, which are expected from Germany and the USA on Thursday.

The sluggishness on the real estate market, which is characterized by high interest rates, continues to be reflected in Patrizia's results. The company assumes that the valuation pressure in the sector will continue in the current 2024 financial year. "The outlook still reflects this uncertainty," said one trader.

After two years of sharp declines, the target range for profit suggests stabilization at a low level at best, but at worst a further decline in operating earnings (EBITDA) by almost half. Patrizia expects EBITDA of EUR 30.0 to 60.0 million in 2024. In the previous year, the operating result fell by 31.5 percent to 54.1 million euros./tih/bek/stk