VNNVF / Vonovia SE: Undervalued And Possible Upside If Rates Drop

Vonovia has seen a decline in valuation, presenting triple-digit upside potential. Investing in Vonovia through an international broker like IBKR is r more_horizontal

Vonovia SE (OTCPK:VNNVF) Q2 2023 Earnings Conference Call August 4, 2023 8:00 AM ET Company Participants Rene Hoffmann - Head of IR Rolf Buch - CEO Ph more_horizontal

Germany's largest real estate group Vonovia slipped to a 2 billion euro ($2.19 billion) second quarter loss and wrote down the value of its properties more_horizontal

Vonovia is one of my highest conviction investments accounting for no less than 7.5% of my portfolio. My local real estate private equity background g more_horizontal

Vonovia, Germany's largest residential landlord, reported decent Q1 2023 results with 3.4% YoY rental growth and a healthy 2.2% vacancy rate. Rental s more_horizontal

Vonovia is trading at a distressed valuation of ~0.35x book value. The bear case is premised on a dilutive equity issuance and/or forced fire sale. more_horizontal

Vonovia SE (OTCPK:VNNVF) Q1 2023 Earnings Conference Call May 4, 2023 8:00 AM ET Company Participants Rene Hoffmann - Head of Investor Relations Rolf more_horizontal

Group FFO down 20% Y/Y in Q1 2023, with strength in the core Rental segment offset by broad-based weakness in other segments. 2023 Guidance confirmed, more_horizontal