publity (PBY)

Business description

publity is an asset manager with a focus on German office buildings. It has a 17-year track record as an investor in commercial real estate in larger German cities and currently manages a portfolio worth €3bn.

Stock data

Market cap.€81.1m
Last close€13.40
High / Low (52 weeks)€41.6 / €11.1
Stock market listingDB
Forecast net debt (m)N/A
Forecast gearing ratio (%)N/A
TeamFinancials
SectorFinancials

Price performance

%1m3m12m
Actual(13.4)(55.3)(64.8)
Relative *(15.9)(52.3)(66.3)

* % Relative to local index

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Company news

Investment summary

The recent selling pressure on publity’s shares (price down 48% ytd) was accompanied by negative newsflow in January, including a profit warning and missed AUM guidance for FY17. The negative sentiment might have also resulted from the ongoing discussions with bondholders around the modification of convertibles’ terms and conditions. Management now guides to FY18 net profit in the range of €15-20m (implying c 34-80% y-o-y growth) based on a cautious assumption of no AUM growth this year (vs previous guidance of €7.0bn).

Last updated on 06/03/2018

Key management

Stephan Kunath, Asst. CEO

Company address

Landsteinerstraße 6
Leipzig
D 04103
Germany
0341.26 17 87 – 0
View website