TAG Immobilien Q1 FFO I, Net Actual Rent Rise - Quick Facts

TAG Immobilien AG reported Monday that its first-quarter Funds from Operations or FFO I, calculated solely based on the rental business in Germany, increased 8.6 percent to 45.6 million euros from last year's 42.0 million euros.

FFO I per share grew to 0.31 euro from last year's 0.29 euro.

Adjusted FFO climbed to 31.3 million euros from 21.3 million euros a year ago. AFFO per share was 0.21 euro, up from 0.15 euro last year.

Consolidated net income was 34.5 million euros, up from 32.1 million euros in the same period of the previous year.

Net actual rent increased 4.4 percent to 83.1 million euros from prior year's 79.7 million euros.

On a like-for-like basis, rental growth in TAG's residential units was 1.4 percent per annum, unchanged from the 2020 financial year.

In the first quarter, vacancy in the residential units increased to 5.9 percent as of March 31 from 5.3 percent at the beginning of the year, in line with the trend in the same period of the previous year.

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