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TAG Immobilien FFO I rises on rental growth; raises 2026 outlook

By Reuters News


Overview

  • Germany residential landlord's FFO I rose 12% yr/yr in first nine months of 2026

  • Company raised full-year 2026 FFO I guidance, confirms other guidance

  • ROBYG IPO strengthened balance sheet, reduced leverage and changed Polish sales accounting


Outlook

  • TAG Immobilien raises 2026 FFO I guidance to EUR 195–200m

  • Company sees 2027 FFO I at EUR 200–210m, up about 4% y-o-y

  • TAG Immobilien expects 2027 net income from sales Poland to decline to EUR 50–60m


Result Drivers

  • RENTAL GROWTH - Higher net actual rent and like-for-like rental growth in Germany and Poland drove FFO I increase

  • POLAND SALES VOLUME - Increased apartment sales and handovers in Poland contributed to earnings from the sales business

  • ROBYG IPO IMPACT - IPO of Polish subsidiary ROBYG strengthened balance sheet and changed accounting for Polish sales


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

9M Net Income

EUR 156.40 mln

9M FFO Per Share

EUR 0.81


Analyst Coverage

  • The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 12 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the real estate rental, development & operations peer group is "buy."

  • Wall Street's median 12-month price target for TAG Immobilien AG is €15.00, about 25.4% above its November 9 closing price of €11.96

  • The stock recently traded at 7 times the next 12-month earnings vs. a P/E of 9 three months ago


Reuters Recommended Reads

  • Nov 9 - EU regulators quiz customers about Deutsche Boerse's Allfunds deal

  • Nov 9 - UniCredit prepares to call Commerzbank shareholder vote as profit surges

  • Nov 9 - Vodafone Deutschland to axe 2,300 jobs as it steps up cost-cutting efforts


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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