| LEG Immobilien SE (DE000LEG1110) | |||
76,45 EURStand (close): 01.07.25 |
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| 14.05.25 07:02:59 | LEG Immobilien SE (LEGIF) Q1 2025 Earnings Call Highlights: Strong Rent Growth and Strategic ... |  |
| Net Rent Increase: More than 7%. AFFO Growth: Increased by 28%. Like-for-Like Rent Increase: 3.5% in Q1. Average In-Place Rent: EUR6.87 per square meter. Net Quarter Rent: Grew by 7.2% to EUR229.5 million. Recurring Net Operating Income: Increased by 8.7% to EUR186 million. EBITDA Margin: Improved by 200 basis points to 75.6%. Cash and Cash Equivalents: EUR830 million at the end of March. Loan-to-Value (LTV): Increased to 48.4%. Interest Coverage Ratio (ICR): Improved to 4.4 times. Warning! GuruFocus has detected 11 Warning Signs with LEGIF. Release Date: May 13, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points LEG Immobilien SE (LEGIF) reported a strong net rent increase of more than 7%, supported by the integration of BCP and organic growth. The company's AFFO increased by 28%, indicating strong cash generation from its core business. The integration of BCP is operationally and financially complete, contributing EUR12 million to rental growth. LEG Immobilien SE (LEGIF) successfully refinanced two-thirds of BCP's financing, maintaining an average interest cost of 1.55%. The company is on track to achieve a 7% bottom-line growth for the year, supported by robust operational performance and strategic disposals. Negative Points The company's LTV increased slightly to 48.4% due to the first-time consideration of BCP, which is above their midterm target of 45%. Investment levels were sluggish compared to Q1 2024, with a minor decline in adjusted investments per square meter. The disposal of Eastern German units, including those in Leipzig, reflects challenges in scaling operations in that region. The rental growth is somewhat dependent on the publication of rent tables, which can delay execution. Despite a robust transaction market, geopolitical tensions and macroeconomic risks pose potential challenges. Q & A Highlights Q: What drove the decision to sell BCP's East Germany portfolio, and how is the deal structured? A: Lars Von Lackum, CEO, explained that the decision to sell the Eastern German assets, including Leipzig, was due to the inability to scale quickly enough to justify a new office. The sale could be structured as a full portfolio or split into parts to maximize shareholder value. Q: Can you provide an update on the development land plots acquired as part of the BCP deal? A: Lars Von Lackum, CEO, stated that there are two plots: one in Grafenberg, intended for sale after demolishment, and another in Gerresheim, where they are negotiating with the city for potential development or sale. Story Continues Q: What is the outlook for revaluation and yield expansion given current interest rates? A: Lars Von Lackum, CEO, noted a positive trend in revaluation, expecting a 0.5% to 1% increase in H1 2025. Rent growth is anticipated to outpace nominal value growth this year. Q: Could you elaborate on the like-for-like rent growth from 3.5% to 4%? A: Volker Wiegel, COO, mentioned that the main drivers are new rent tables and re-letting effects, with substantial modernizations expected to contribute in Q4. Q: Are there plans to explore other business lines or geographies to accelerate topline growth? A: Lars Von Lackum, CEO, stated that LEG Immobilien is not looking into third-party business or external growth due to balance sheet constraints, focusing instead on maximizing value from existing assets. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. View Comments |
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| 21.04.25 20:32:55 | LEG Immobilien SE (LEGIF) (Q4 2024) Earnings Call Highlights: Strong Financial Performance Amid ... |  |
| Release Date: March 10, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points LEG Immobilien SE (LEGIF) achieved an 11% growth in AFFO, reaching 200.4 million, demonstrating strong financial performance. The company successfully transferred 2,500 non-core units in 2024 and signed another 1,800 units for 2025, with total proceeds of 400 million. Net rent increased by 3.0% to 859.4 million, with a recurring net operating income rise of 5.1%, indicating robust operational performance. The company maintained a low cash financing cost of 1.49% by issuing low coupon bonds and repaying higher-cost debt. LEG Immobilien SE (LEGIF) has a strong cash position of over 900 million, covering all 2025 maturities and planned refinancing needs. Negative Points The company's LTV remains above the midterm target of 45%, currently at 47.9%, indicating a need for further deleveraging. New tenant protection regulations in North Australia affect 23% of the portfolio, potentially limiting rent growth. The market recovery in Germany is still below the long-term average, which could impact future disposal programs. The AFFO contribution from green ventures is expected to be minimal in 2025, with a single-digit million euro impact. The company faces challenges in refinancing upcoming maturities in a higher interest rate environment, despite a low starting base. Q & A Highlights Warning! GuruFocus has detected 11 Warning Signs with LEGIF. Q: Do you foresee any major changes in rent regulation beyond 2025, and what is the rationale for considering a potential exit from your green ventures? A: (Unidentified_3, COO) We don't expect major effects from rent regulation changes in the near future. Regarding green ventures, we aim to scale them quickly and may consider selling stakes to partners, especially in markets where we lack expertise. We expect a single-digit million euro contribution to AFFO from these ventures this year. Q: Your balance sheet remains highly leveraged. What are your plans to reduce the LTV, and by when do you expect to reach a more market-acceptable level? A: (Unidentified_2, CEO) We aim to reach our midterm LTV target of 45% by continuing our sales program. We are currently marketing around 3,000 units and expect additional sales to help reduce leverage. The timeline depends on asset valuations and market conditions. Q: Are you offering a scrip alternative to the dividend, and how will you influence the level of take-up? A: (Unidentified_4, CFO) We will likely offer both a scrip and cash dividend, similar to previous years. The decision on pricing and take-up levels has not been finalized yet. Story Continues Q: What are your expectations from the new potential CDU-SPD government regarding housing policies? A: (Unidentified_2, CEO) The preliminary negotiations suggest a prolongation of the rental break, which aligns with our expectations. However, details on new builds and climate neutrality targets are still unclear, and we await further information. Q: Can you provide more details on your non-rental business and the expected contributions from green ventures? A: (Unidentified_3, COO) Our additional services have stabilized at a contribution of 50 million on an FFO1 basis. We expect this to increase in line with our AFFO growth guidance for 2025. The green ventures, including serial refurbishment and smart thermostats, are expected to contribute 20 million by 2028. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. View Comments |
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| 11.04.25 06:48:23 | With 55% institutional ownership, LEG Immobilien SE (ETR:LEG) is a favorite amongst the big guns | |
| Key Insights Given the large stake in the stock by institutions, LEG Immobilien's stock price might be vulnerable to their trading decisions The top 25 shareholders own 48% of the company Using data from analyst forecasts alongside ownership research, one can better assess the future performance of a company Trump has pledged to "unleash" American oil and gas and these 15 US stocks have developments that are poised to benefit. Every investor in LEG Immobilien SE (ETR:LEG) should be aware of the most powerful shareholder groups. And the group that holds the biggest piece of the pie are institutions with 55% ownership. In other words, the group stands to gain the most (or lose the most) from their investment into the company. Given the vast amount of money and research capacities at their disposal, institutional ownership tends to carry a lot of weight, especially with individual investors. As a result, a sizeable amount of institutional money invested in a firm is generally viewed as a positive attribute. Let's delve deeper into each type of owner of LEG Immobilien, beginning with the chart below. Check out our latest analysis for LEG Immobilien XTRA:LEG Ownership Breakdown April 11th 2025 What Does The Institutional Ownership Tell Us About LEG Immobilien? Many institutions measure their performance against an index that approximates the local market. So they usually pay more attention to companies that are included in major indices. As you can see, institutional investors have a fair amount of stake in LEG Immobilien. This implies the analysts working for those institutions have looked at the stock and they like it. But just like anyone else, they could be wrong. It is not uncommon to see a big share price drop if two large institutional investors try to sell out of a stock at the same time. So it is worth checking the past earnings trajectory of LEG Immobilien, (below). Of course, keep in mind that there are other factors to consider, too.XTRA:LEG Earnings and Revenue Growth April 11th 2025 Since institutional investors own more than half the issued stock, the board will likely have to pay attention to their preferences. Hedge funds don't have many shares in LEG Immobilien. Our data shows that BlackRock, Inc. is the largest shareholder with 11% of shares outstanding. The second and third largest shareholders are Massachusetts Financial Services Company and The Vanguard Group, Inc., with an equal amount of shares to their name at 4.6%. Our studies suggest that the top 25 shareholders collectively control less than half of the company's shares, meaning that the company's shares are widely disseminated and there is no dominant shareholder. Story Continues While it makes sense to study institutional ownership data for a company, it also makes sense to study analyst sentiments to know which way the wind is blowing. Quite a few analysts cover the stock, so you could look into forecast growth quite easily. Insider Ownership Of LEG Immobilien The definition of an insider can differ slightly between different countries, but members of the board of directors always count. The company management answer to the board and the latter should represent the interests of shareholders. Notably, sometimes top-level managers are on the board themselves. Most consider insider ownership a positive because it can indicate the board is well aligned with other shareholders. However, on some occasions too much power is concentrated within this group. We note our data does not show any board members holding shares, personally. It is unusual not to have at least some personal holdings by board members, so our data might be flawed. A good next step would be to check how much the CEO is paid. General Public Ownership The general public-- including retail investors -- own 42% stake in the company, and hence can't easily be ignored. While this group can't necessarily call the shots, it can certainly have a real influence on how the company is run. Next Steps: While it is well worth considering the different groups that own a company, there are other factors that are even more important. Case in point: We've spotted 3 warning signs for LEG Immobilien you should be aware of, and 1 of them can't be ignored. But ultimately it is the future, not the past, that will determine how well the owners of this business will do. Therefore we think it advisable to take a look at this free report showing whether analysts are predicting a brighter future . NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures. Have feedback on this article? Concerned about the content?Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. View Comments |
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| 15.03.25 06:21:45 | LEG Immobilien's (ETR:LEG) Promising Earnings May Rest On Soft Foundations | |
| Investors were disappointed with LEG Immobilien SE's (ETR:LEG) earnings, despite the strong profit numbers. Our analysis uncovered some concerning factors that we believe the market might be paying attention to. Check out our latest analysis for LEG Immobilien XTRA:LEG Earnings and Revenue History March 15th 2025 Operating Revenue Or Not? At most companies, some revenue streams, such as government grants, are accounted for as non-operating revenue, while the core business is said to produce operating revenue. Oftentimes, non-operating revenue spikes are not repeated, so it makes sense to be cautious where non-operating revenue has made a very large contribution to total profit. However, we note that when non-operating revenue increases suddenly, it will sometimes generate an unsustainable boost to profit. It's worth noting that LEG Immobilien saw a big increase in non-operating revenue over the last year. Indeed, its non-operating revenue rose from €128.8m last year to €270.8m this year. The high levels of non-operating revenue are problematic because if (and when) they do not repeat, then overall revenue (and profitability) of the firm will fall. In order to better understand a company's profit result, it can sometimes help to consider whether the result would be very different without a sudden increase in non-operating revenue. That might leave you wondering what analysts are forecasting in terms of future profitability. Luckily, you can click here to see an interactive graph depicting future profitability, based on their estimates. The Impact Of Unusual Items On Profit Alongside that spike in non-operating revenue, it's also important to note that LEG Immobilien'sprofit suffered from unusual items, which reduced profit by €281m in the last twelve months. While deductions due to unusual items are disappointing in the first instance, there is a silver lining. We looked at thousands of listed companies and found that unusual items are very often one-off in nature. And that's hardly a surprise given these line items are considered unusual. LEG Immobilien took a rather significant hit from unusual items in the year to December 2024. As a result, we can surmise that the unusual items made its statutory profit significantly weaker than it would otherwise be. Our Take On LEG Immobilien's Profit Performance In the last year LEG Immobilien's non-operating revenue really gave it a boost, but not in a way that is necessarily going to be sustained. Having said that, it also took a hit from unusual items, which could bode well for next year, assuming the expense was one-off in nature. Based on these factors, it's hard to tell if LEG Immobilien's profits are a reasonable reflection of its underlying profitability. If you want to do dive deeper into LEG Immobilien, you'd also look into what risks it is currently facing. Every company has risks, and we've spotted 3 warning signs for LEG Immobilien (of which 1 is a bit concerning!) you should know about. Story Continues In this article we've looked at a number of factors that can impair the utility of profit numbers, as a guide to a business. But there are plenty of other ways to inform your opinion of a company. For example, many people consider a high return on equity as an indication of favorable business economics, while others like to 'follow the money' and search out stocks that insiders are buying. While it might take a little research on your behalf, you may find this free collection of companies boasting high return on equity, or this list of stocks with significant insider holdings to be useful. Have feedback on this article? Concerned about the content?Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. View Comments |
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| 11.03.25 12:59:49 | LEG Immobilien Full Year 2024 Earnings: Misses Expectations | |
| LEG Immobilien (ETR:LEG) Full Year 2024 Results Key Financial Results Revenue: €1.57b (up 15% from FY 2023). Net income: €66.0m (up from €1.57b loss in FY 2023). Profit margin: 4.2% (up from net loss in FY 2023). EPS: €0.89 (up from €21.17 loss in FY 2023).XTRA:LEG Earnings and Revenue Growth March 11th 2025 All figures shown in the chart above are for the trailing 12 month (TTM) period LEG Immobilien Revenues and Earnings Miss Expectations Revenue missed analyst estimates by 1.1%. Earnings per share (EPS) also missed analyst estimates by 54%. Looking ahead, revenue is expected to fall by 20% p.a. on average during the next 3 years compared to a 13% decline forecast for the Real Estate industry in Germany. Performance of the German Real Estate industry. The company's shares are down 12% from a week ago. Risk Analysis Before you take the next step you should know about the 3 warning signs for LEG Immobilien (1 shouldn't be ignored!) that we have uncovered. Have feedback on this article? Concerned about the content?Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. View Comments |
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| 07.01.25 07:04:39 | Is Now The Time To Look At Buying LEG Immobilien SE (ETR:LEG)? | |
| LEG Immobilien SE (ETR:LEG), is not the largest company out there, but it received a lot of attention from a substantial price movement on the XTRA over the last few months, increasing to €96.10 at one point, and dropping to the lows of €79.32. Some share price movements can give investors a better opportunity to enter into the stock, and potentially buy at a lower price. A question to answer is whether LEG Immobilien's current trading price of €79.64 reflective of the actual value of the mid-cap? Or is it currently undervalued, providing us with the opportunity to buy? Let’s take a look at LEG Immobilien’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change. Check out our latest analysis for LEG Immobilien What Is LEG Immobilien Worth? According to our valuation model, the stock is currently overvalued by about 35%, trading at €79.64 compared to our intrinsic value of €58.89. This means that the opportunity to buy LEG Immobilien at a good price has disappeared! Another thing to keep in mind is that LEG Immobilien’s share price is quite stable relative to the market, as indicated by its low beta. This means that if you believe the current share price should move towards its intrinsic value over time, a low beta could suggest it is not likely to reach that level anytime soon, and once it’s there, it may be hard to fall back down into an attractive buying range again. What kind of growth will LEG Immobilien generate?XTRA:LEG Earnings and Revenue Growth January 7th 2025 Investors looking for growth in their portfolio may want to consider the prospects of a company before buying its shares. Buying a great company with a robust outlook at a cheap price is always a good investment, so let’s also take a look at the company's future expectations. However, with an extreme expected decline in the top-line over the next couple of years, near-term growth is certainly not a driver of a buy decision. Even with a larger decline in expenses, it seems like high uncertainty is on the cards for LEG Immobilien. What This Means For You Are you a shareholder? If you believe LEG should trade below its current price, selling high and buying it back up again when its price falls towards its real value can be profitable. Given the risk from a negative growth outlook, this could be the right time to de-risk your portfolio. But before you make this decision, take a look at whether its fundamentals have changed. Are you a potential investor? If you’ve been keeping an eye on LEG for a while, now may not be the best time to enter into the stock. The company’s price climbed passed its true value, in addition to a risky future outlook. However, there are also other important factors which we haven’t considered today, such as the track record of its management. Should the price fall in the future, will you be well-informed enough to buy? Story Continues Keep in mind, when it comes to analysing a stock it's worth noting the risks involved. When we did our research, we found 2 warning signs for LEG Immobilien (1 shouldn't be ignored!) that we believe deserve your full attention. If you are no longer interested in LEG Immobilien, you can use our free platform to see our list of over 50 other stocks with a high growth potential. Have feedback on this article? Concerned about the content?Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. View Comments |
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| 09.10.24 22:06:43 | LEG Immobilien SE (LEGIF) Q2 2024 Earnings Call Highlights: Strong AFFO Guidance and Record Low ... | |
| AFFO Guidance: Increased from EUR180 million to EUR200 million, now EUR190 million to EUR210 million, indicating a 10% increase in AFFO per share year on year. Vacancy Rate: Reduced by 10 basis points to a record low of 2.5%. Free-Financed Rent Increase: Achieved 3.6% in 2023, expected 3.8% to 4% in 2024. Devaluation Rate: Moderated to 1.6%, below the midpoint of the guidance range of 1% to 3%. Gross Yield: Portfolio offers a 4.9% gross yield. Disposals: Year-to-date disposals reached EUR285 million. Net Cold Rent: Increased by 3.3% to EUR427.9 million. Recurring Net Operating Income: Rose by 3.2% to EUR350.2 million. Adjusted EBITDA: Declined by 3.4% due to lower contribution from green electricity production. AFFO: Decreased by 7.5% year over year to EUR109.7 million. Interest Rate: Average interest rate at 1.66% with an average maturity of six years. Pro-Forma LTV: Slightly lower at 48.3%, expected to decline further to below 48% by year-end. ICR: Stands at 4.3 times. Warning! GuruFocus has detected 13 Warning Signs with LEGIF. List of 52-Week Lows List of 3-Year Lows List of 5-Year Lows Release Date: August 09, 2024 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points LEG Immobilien SE (LEGIF) increased its AFFO guidance to EUR190 million to EUR210 million, indicating a strong 10% increase in AFFO per share year on year. The company achieved a record low vacancy rate of 2.5%, reflecting effective operational management. LEG Immobilien SE (LEGIF) reported a 3.3% increase in net cold rent, driven by a 2.9% increase in in-place rent on a like-for-like basis. The company successfully disposed of EUR285 million worth of assets year-to-date, demonstrating strong progress in its disposal strategy. LEG Immobilien SE (LEGIF) maintains a strong ESG rating, being listed as number six within Sustainalytics' global real estate coverage. Negative Points AFFO decreased by 7.5% year over year to EUR109.7 million, impacted by lower contributions from green electricity production and higher interest payments. The company's LTV remains above its mid-term target of 45%, currently standing at 48.3%, indicating a need for further deleveraging. Despite progress in disposals, the company faces challenges in achieving its LTV target, potentially requiring additional asset sales. The devaluation cycle, although moderating, resulted in a 1.6% decline in property values, impacting the company's financial metrics. Higher personnel costs and increased operating expenses contributed to a decline in adjusted EBITDA by 3.4%. Story continues Q & A Highlights Q: Can you provide expectations for disposals for the remainder of the year and details on investment plans for the mixed-use scheme? A: We are marketing around 3,000 units for disposal, including new developments and lower-end assets. We expect to make significant progress on these disposals as the transaction market opens up. Regarding the mixed-use scheme, the largest part of the additional investment is a single-digit million number, but we cannot provide precise figures due to ongoing negotiations with potential tenants. - Lars Von Lackum, CEO Q: Why did a recent disposal not complete, and how does this affect your CapEx plans? A: The disposal fell through because the buyer could not secure financing. We decided to reinvest in the hotel complex due to strong interest from potential tenants, which we learned during the process. This investment is expected to stabilize the asset and increase shareholder value. - Lars Von Lackum, CEO Q: How do you plan to achieve your mid-term LTV target of 45%? A: We aim to stabilize and reduce our LTV through disposals and retained earnings. We are committed to achieving the 45% target within a timeframe of more than 12 months but less than five years. Additional disposals beyond the current 3,000 units may be considered to reach this goal. - Lars Von Lackum, CEO Q: Can you provide a range for disposal yields and explain the focus on gross yield comparisons? A: The disposal yields range from 9% to 33% net cold rent multipliers, reflecting the quality spectrum of assets sold. We focus on gross yield comparisons because we do not have insight into buyers' internal calculations, and gross yield is the standard reference in negotiations. - Lars Von Lackum, CEO Q: What is the status of your BCP stake, and do you consider it accretive? A: Our initial approach was to fully acquire BCP, but due to asset devaluation, we could not execute the call option on shares. We continue to monitor the situation closely, but currently, there is no change in our minority position. - Lars Von Lackum, CEO For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. View comments |
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| 03.10.24 06:48:22 | LEG Immobilien SE's (ETR:LEG) high institutional ownership speaks for itself as stock continues to impress, up 3.3% over last week | |
| Key Insights Significantly high institutional ownership implies LEG Immobilien's stock price is sensitive to their trading actions 50% of the business is held by the top 22 shareholders Analyst forecasts along with ownership data serve to give a strong idea about prospects for a business To get a sense of who is truly in control of LEG Immobilien SE (ETR:LEG), it is important to understand the ownership structure of the business. And the group that holds the biggest piece of the pie are institutions with 63% ownership. That is, the group stands to benefit the most if the stock rises (or lose the most if there is a downturn). And things are looking up for institutional investors after the company gained €228m in market cap last week. The gains from last week would have further boosted the one-year return to shareholders which currently stand at 62%. Let's delve deeper into each type of owner of LEG Immobilien, beginning with the chart below. Check out our latest analysis for LEG Immobilien ownership-breakdown What Does The Institutional Ownership Tell Us About LEG Immobilien? Institutions typically measure themselves against a benchmark when reporting to their own investors, so they often become more enthusiastic about a stock once it's included in a major index. We would expect most companies to have some institutions on the register, especially if they are growing. LEG Immobilien already has institutions on the share registry. Indeed, they own a respectable stake in the company. This suggests some credibility amongst professional investors. But we can't rely on that fact alone since institutions make bad investments sometimes, just like everyone does. When multiple institutions own a stock, there's always a risk that they are in a 'crowded trade'. When such a trade goes wrong, multiple parties may compete to sell stock fast. This risk is higher in a company without a history of growth. You can see LEG Immobilien's historic earnings and revenue below, but keep in mind there's always more to the story. earnings-and-revenue-growth Investors should note that institutions actually own more than half the company, so they can collectively wield significant power. Hedge funds don't have many shares in LEG Immobilien. BlackRock, Inc. is currently the company's largest shareholder with 11% of shares outstanding. Meanwhile, the second and third largest shareholders, hold 4.5% and 3.2%, of the shares outstanding, respectively. A closer look at our ownership figures suggests that the top 22 shareholders have a combined ownership of 50% implying that no single shareholder has a majority. Story continues While it makes sense to study institutional ownership data for a company, it also makes sense to study analyst sentiments to know which way the wind is blowing. There are a reasonable number of analysts covering the stock, so it might be useful to find out their aggregate view on the future. Insider Ownership Of LEG Immobilien The definition of an insider can differ slightly between different countries, but members of the board of directors always count. Management ultimately answers to the board. However, it is not uncommon for managers to be executive board members, especially if they are a founder or the CEO. Insider ownership is positive when it signals leadership are thinking like the true owners of the company. However, high insider ownership can also give immense power to a small group within the company. This can be negative in some circumstances. Our data cannot confirm that board members are holding shares personally. It is unusual not to have at least some personal holdings by board members, so our data might be flawed. A good next step would be to check how much the CEO is paid. General Public Ownership The general public, who are usually individual investors, hold a 37% stake in LEG Immobilien. This size of ownership, while considerable, may not be enough to change company policy if the decision is not in sync with other large shareholders. Next Steps: It's always worth thinking about the different groups who own shares in a company. But to understand LEG Immobilien better, we need to consider many other factors. For instance, we've identified 2 warning signs for LEG Immobilien (1 doesn't sit too well with us) that you should be aware of. But ultimately it is the future, not the past, that will determine how well the owners of this business will do. Therefore we think it advisable to take a look at this free report showing whether analysts are predicting a brighter future. NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures. Have feedback on this article? Concerned about the content?Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. View comments |
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| 11.08.24 08:00:14 | LEG Immobilien Second Quarter 2024 Earnings: EPS Beats Expectations | |
| LEG Immobilien (ETR:LEG) Second Quarter 2024 Results Key Financial Results Revenue: €328.7m (down 3.4% from 2Q 2023). Net loss: €143.9m (loss narrowed by 87% from 2Q 2023). €1.94 loss per share (improved from €15.18 loss in 2Q 2023). earnings-and-revenue-growth All figures shown in the chart above are for the trailing 12 month (TTM) period LEG Immobilien EPS Beats Expectations Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 62%. Looking ahead, revenue is expected to fall by 16% p.a. on average during the next 3 years compared to a 16% decline forecast for the Real Estate industry in Germany. Performance of the German Real Estate industry. The company's share price is broadly unchanged from a week ago. Risk Analysis We don't want to rain on the parade too much, but we did also find 2 warning signs for LEG Immobilien (1 can't be ignored!) that you need to be mindful of. Have feedback on this article? Concerned about the content?Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. View comments |
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| 03.07.24 13:42:24 | LEG Immobilien (ETR:LEG) shareholders have endured a 37% loss from investing in the stock three years ago | |
| In order to justify the effort of selecting individual stocks, it's worth striving to beat the returns from a market index fund. But its virtually certain that sometimes you will buy stocks that fall short of the market average returns. We regret to report that long term LEG Immobilien SE (ETR:LEG) shareholders have had that experience, with the share price dropping 41% in three years, versus a market decline of about 10%. It's worthwhile assessing if the company's economics have been moving in lockstep with these underwhelming shareholder returns, or if there is some disparity between the two. So let's do just that. Check out our latest analysis for LEG Immobilien There is no denying that markets are sometimes efficient, but prices do not always reflect underlying business performance. One way to examine how market sentiment has changed over time is to look at the interaction between a company's share price and its earnings per share (EPS). Over the three years that the share price declined, LEG Immobilien's earnings per share (EPS) dropped significantly, falling to a loss. Extraordinary items contributed to this situation. Due to the loss, it's not easy to use EPS as a reliable guide to the business. However, we can say we'd expect to see a falling share price in this scenario. The image below shows how EPS has tracked over time (if you click on the image you can see greater detail). earnings-per-share-growth Before buying or selling a stock, we always recommend a close examination of historic growth trends, available here. What About Dividends? As well as measuring the share price return, investors should also consider the total shareholder return (TSR). Whereas the share price return only reflects the change in the share price, the TSR includes the value of dividends (assuming they were reinvested) and the benefit of any discounted capital raising or spin-off. Arguably, the TSR gives a more comprehensive picture of the return generated by a stock. In the case of LEG Immobilien, it has a TSR of -37% for the last 3 years. That exceeds its share price return that we previously mentioned. This is largely a result of its dividend payments! A Different Perspective It's nice to see that LEG Immobilien shareholders have received a total shareholder return of 35% over the last year. And that does include the dividend. Notably the five-year annualised TSR loss of 4% per year compares very unfavourably with the recent share price performance. This makes us a little wary, but the business might have turned around its fortunes. It's always interesting to track share price performance over the longer term. But to understand LEG Immobilien better, we need to consider many other factors. Consider for instance, the ever-present spectre of investment risk. We've identified 2 warning signs with LEG Immobilien (at least 1 which makes us a bit uncomfortable) , and understanding them should be part of your investment process. Story continues For those who like to find winning investments this freelist of undervalued companies with recent insider purchasing, could be just the ticket. Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on German exchanges. Have feedback on this article? Concerned about the content?Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com View comments |
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