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HAMBORNER REIT AG Records Stable Progress in Q3 2024

Stock price chart of HAMBORNER REIT AG (EBR:HABA) showing fluctuations.

HAMBORNER REIT AG has reported consistent business development in the third quarter of 2024. The company achieved rental income of EUR 69.8 million, marking a 2.8% year-on-year increase. This growth can be attributed to previous property acquisitions and index-linked rent adjustments. However, funds from operations (FFO) experienced a slight 1.0% decline to EUR 41.8 million, attributed to increased maintenance and personnel expenses.

The REIT maintains a strong financial position, with a 54.9% equity ratio, and the loan-to-value ratio at 44.4% as of September 30, 2024. The property portfolio remained stable with 67 assets, though net asset value per share dipped by 1.1% to EUR 9.91. A notable transaction included the sale of an office property in Hamburg for EUR 8.0 million, reflecting a 27% premium over its previous valuation.

The company has refined its full-year forecast, projecting rental income between EUR 92 million and EUR 93 million, and an operating result of EUR 50 million to EUR 51 million.

R. P.

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