Investor Relations Activities
Vonovia SE is committed to transparent, ongoing dialogue with its shareholders and potential investors. Throughout the 2016 fiscal year, Vonovia participated in a total of 14 investors’ conferences and 19 roadshows in key financial centers in Europe, North America, Asia and South Africa. In addition, numerous one-on-one meetings and teleconferences were held with investors and analysts to keep them informed of current developments and special issues. In the 2016 fiscal year, communication with investors focused on the following issues: valuation, modernization, innovative property management, the immunity of Vonovia SE’s business model to macroeconomic fluctuations, and the importance of acquisitions and organic growth.
Our annual Capital Markets Day was held on June 6 and 7, 2016, in Essen and attracted 55 external participants. The Eltingviertel district in the north of Essen played a key role in our decision to host the event in the city. Vonovia is collaborating with partners to turn this district into a vibrant neighborhood. A tour of the district showed the participants that sustainable district development is something that is actively put into practice at Vonovia. In addition, as well as a management presentation made to smaller groups, the topics of “Extension”, “Planning Affordable Housing” and “Modernization” were presented by the responsible employees and discussed as a group.
The Investor Relations team also organized and carried out numerous property tours for interested investors and analysts on location with colleagues from the operational areas of the company. The aim of these events was to provide the participants with firsthand insight into Vonovia’s real estate portfolio and processes. Investor Relations also held detailed presentations on Vonovia and the situation on the German residential real estate market at informational events for private shareholders.
In 2017, we will continue to communicate openly with the capital market. Various roadshows and conferences have already been planned. Information can be found in the Financial Calendar on our Investor Relations website.
At present, 28 international analysts publish studies on Vonovia on a regular basis (as of December 31, 2016). The average target share price was € 36.00 as of December 31, 2016. Of these analysts, 56% issued a “buy” recommendation, with 37% issuing a “hold” recommendation and only 7% recommending that investors sell the company’s shares.