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Noratis (NUVA)

Business description

Noratis is a specialised asset developer, acquiring residential rental income producing assets in secondary locations with optimisation potential. Investing in the asset base and improving the tenant mix creates value, which Noratis exploits during well-structured asset sales, either through individual or block sales.

Stock data

Market cap.€80.7m
Last close€22.40
High / Low (52 weeks)€28.0 / €18.0
Stock market listingDB
Forecast net debt (m)N/A
Forecast gearing ratio (%)N/A
TeamFinancials
SectorFinancials

Price performance

%1m3m12m
Actual1.8(8.2)23.7
Relative *10.53.653.2

* % Relative to local index

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Company news

BRIEF-Noratis AG sells property portfolio in Dormagen

Thu, 14 Sep 2017 13:23:15 GMT

Is It Time To Sell Noratis AG (FRA:NUVA) Based Off Its PE Ratio?

Mon, 09 Apr 2018 17:03:45 GMT

BRIEF-Noratis ‍buys housing stock in Frankfurt-Fechenheim

Thu, 16 Nov 2017 07:52:30 GMT

BRIEF-Noratis Sells 99 Apartments In Schwarzenbek

Tue, 16 Jul 2013 15:56:15 GMT

Calculating The Intrinsic Value Of Waste Management Inc (NYSE:WM)

Tue, 20 Mar 2018 14:48:45 GMT

Investment summary

Noratis is stepping up its ambition to benefit from favourable macro factors and the clear opportunity in real estate with development potential in non-core German cities. The asset base (stock book value up 15% in H1 at €114m) has seen a sharp acceleration in growth with c 900 units acquired since May (under 1,200 units in total at the start of 2018). The shortfall in H1 results (revenue and adjusted EBIT down by a third) was, as expected, a matter of timing (likely high-margin asset sales will be H2 oriented), so guidance of a rise in full-year profit is maintained, albeit on lower revenue. Solid finances should allow a further generous dividend (6.9% yield 2018e).

Last updated on 19/11/2018

Latest research

Growing rapidly

QuickView | Financials | 19/11/2018

Building well

Update | Financials | 11/10/2018

On a growth path

Update | Financials | 04/07/2018

The real estate optimisers

Initiation | Financials | 30/06/2017

AKTUELLE VERÖFFENTLICHUNGEN

Noratis

Ein gutes Gefüge

11/10/2018
Noratis

Auf Wachstumskurs

04/07/2018
Noratis

Die Immobilien-Optimierer

30/06/2017

Latest video

Executive Interview - Noratis

Key management

Igor Christian Bugarski , CEO
André Speth, CFO

Company address

Hauptstraße 129
Eschborn
65760
Germany
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