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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.€81.4m
Last close€22.60
High / Low (52 weeks)€28.0 / €15.5
Stock market listingDB
Forecast net debt (m)N/A
Forecast gearing ratio (%)N/A
TeamFinancials
SectorFinancials

Price performance

%1m3m12m
Actual8.7(15.9)32.2
Relative *8.6(16.7)29.8

* % Relative to local index

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Company news

Latest research

On a growth path

Update | Financials | 04/07/2018

The real estate optimisers

Initiation | Financials | 30/06/2017

AKTUELLE VERÖFFENTLICHUNGEN

Noratis

Auf Wachstumskurs

04/07/2018
Noratis

Die Immobilien-Optimierer

30/06/2017

Investment summary

Recent significant fund-raising and portfolio expansion by Noratis confirm the company’s ambition to benefit from favourable macro factors and the clear opportunity to develop real estate in non-core German cities. This follows a “very successful” 2017, with sales up by over 50% and adjusted PBT more than doubled, driven by the disposals of newly-enhanced (optimised) property blocks. Reinvestment was no less effective; the continued ability to buy at attractive yields led to a 25% increase in the asset base (c €100m). Positive 2018 guidance increases the prospect of a rise in an already generous dividend (7.3% yield 2018e).

Last updated on 04/07/2018

Key management

Igor Christian Bugarski , CEO
André Speth, CFO

Company address

Hauptstraße 129
Eschborn
65760
Germany
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