Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on FAIR VALUE REIT-AG. We currently have 4 research reports from 1 professional analysts.
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Research reports on
FAIR VALUE REIT-AG
FAIR VALUE REIT-AG
Waiting to pounce
16 May 16
Q116 results are consistent with our full year forecasts, towards the top end of management guidance, and we have made no material changes to our estimates. 2015 saw FVI raising capital and moving into a growth phase after several years of focusing on portfolio optimisation. It acquired a majority holding in a new subsidiary, increased participation in existing subsidiaries and directly acquired properties previously held within subsidiaries. The capital base is sufficient to support further similar significant growth that is not yet reflected in our base case forecasts.
Shifting to growth
29 Apr 16
2015 saw Fair Value Reit (FVI) moving into a growth phase after several years of focusing on portfolio optimisation. New growth capital was raised early in the year with the proceeds directed towards a majority holding in a new subsidiary, increased participation in existing subsidiaries, and the direct acquisition of properties previously held within subsidiaries. The capital base is sufficient to support further significant growth that is not yet reflected in our base case forecasts. DEMIRE acquired 78% in the voluntary public takeover offer in December 2015 but FVI retains its listing and REIT status.
Demire approach adds growth option
11 Sep 15
Underlying interim results were effectively looking backwards to a period of portfolio rationalisation and declining rental income. Meanwhile, Fair Value REIT (FVI) has been making considerable progress with its growth strategy, investing directly in properties previously owned by subsidiaries, increasing its investment in existing subsidiaries, and adding the new closed-end real estate fund subsidiary (BBV08). Management guidance anticipates further investments over 2015 and 2016 that have the potential to significantly increase our estimates further (based on the current structure). Meanwhile, a voluntary public takeover offer for FVI by Demire has been proposed. The move is welcomed by management and would see the creation of a larger, more diversified player, with c €1bn in gross assets.
Progress on growth plans
07 Jul 15
Fair Value REIT (FVI) has announced further progress in its growth strategy, with the acquisition of a majority stake (c 52.8%) in a closed-end real estate fund (BBV08). The €8.4m cash investment uses proceeds from the €34.7m (net) equity increase in May. The terms of the acquisition add immediate value to FVI shareholders, enhancing EPRA NAV and underlying EPRA (or FFO) earnings per share. We estimate that leveraged investment of the remaining proceeds of the equity increase could lift annualised adjusted earnings by a further 41%.
Making Mobiles Better
17 Jan 17
Mobile phones are increasingly the key connection for the modern world. This means that the performance of mobile phones, and their networks, is going to become more critical for all the apps and businesses that rely on them. New technologies such as VR, AR, and AV will need better, more reliable connections to really move into the mainstream. In this thematic piece we attempt to identify some of the most important issues facing mobile phone networks and their users, and start to identify solutions and enablers that will solve these problems and create value by doing so.
N+1 Singer - Best Ideas 2017 - Top picks
04 Jan 17
Today we publish our Best Ideas for 2017 - 12 stocks that we believe have excellent prospects in the current year together with a detailed discussion of what we see as the key sector and market themes for 2017. Our top picks are Cineworld, Elementis, Herald Investment Trust, Hill & Smith, IQE, MySale, Redde, ReNeuron, RhythmOne, SDL, Servelec and Severfield.
The Monthly January 2017
09 Jan 17
Despite all the hullaballoo of the Brexit vote and the subsequent election of Donald Trump as the next US President, the UK stock market prospered last year, especially in the latter few months of 2016. The combination of a depreciating currency – making $ earnings more valuable in relative terms - and the Trump emphasis on infrastructure expenditure drove the stock market higher
Small Cap Breakfast
17 Jan 17
Global Energy Development (GED.L) — To be renamed Nautilus Marine Services. Schedule 1 from developer and seller of hydrocarbons and related products. Reverse takeover. Raising $10.5m via a convertible. Expected 9 Feb. Eco (Atlantic) Oil & Gas—TSX-V listed oil and gas exploration has announced its intention to float on AIM. Assets in Guyana and Namibia. Proposed £2m-£3m fundraise. Diversified Gas & Oil—According to LSE website first day of trading on AIM now expected for 30 January.
N+1 Singer - Morning Song 16-01-2017
16 Jan 17
As the birthplace of Stephenson, Armstrong and Swan, the North East of England has a proud history of industrial and technological innovation. Despite local economic challenges, the region’s industrial heritage lives on through continuing success in high end engineering and technology. The recent takeovers of private equity backed SMD (subsea robotics) and Nomad Digital (wi-fi on the railways) are testament to this. The North East has also emerged as a leader in genetics and genomics with an enviable life sciences and healthcare infrastructure. Against this backdrop, we expect the region to continue to throw up attractive IPO candidates to build on the six new listings in the past three years. We expect 2017 to be far kinder to the existing portfolio of North East plcs than 2016 (a year to forget) with recent management changes one important theme for the new year. Our top picks are Hargreaves Services, Quantum Pharma and Zytronic (all N+1 Singer Corporate clients) and we are Buyers of Northgate and Grainger.