publity

DB: PBY

€467.9m market cap

€31.45 last close

publity is an asset manager with a focus on German office buildings. It has an 18-year track record as an investor in commercial real estate in larger German cities and manages a portfolio worth €5.0bn.

Investment summary

As publity shifts towards a two-pillar business model, focused on real estate asset management and investment, its portfolio of fully owned properties (held by PREOS) expanded to €1.5bn, with €8.0bn targeted by 2024. The company aims for both domestic and international expansion, focused on large metropolitan areas in Europe. Prospective growth is planned to be fuelled by a €400m bond issue already announced by PREOS to replace its 2019/2024 convertible, which will be followed by issuing new capital market instruments. The onboarding of new international investors will reduce publity’s stake in PREOS from 86.5%, with publity targeting 25.01% by 2023.

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Share price graph
Price performance
%
1m
3m
12m
Actual (6.3) (4.6) (10.0)
Relative* (6.2) (9.7) (22.4)
52-week high/low €38.3/€27.6
*% relative to local index
Key management
Stephan Kunath Asst. CEO

Content on publity