Investor Relations Activities
Vonovia SE is committed to transparent, ongoing dialogue with its shareholders and potential investors. In the first six months of 2019, Vonovia participated in a total of 13 investors’ conferences and organized 16 roadshow days in the most important European, North American and Asian financial centers. 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.
The Investor Relations team also organized and carried out 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.
We will continue to communicate openly with the capital market. Various roadshows, conferences and participation in investor forums have already been planned. Information can be found in the Financial Calendar on our Investor Relations website. https://investors.vonovia.de
Capital Markets Day
This year’s Capital Markets Day was held on June 5, 2019 in Frankfurt am Main and the motto of the event was “Embracing a smart world.” 68 analysts and investors were able to gain an insight into how Vonovia is forging ahead with the issue of digitalization in order to boost customer satisfaction and make its business processes more efficient. The event included a deep dive into the issues of “Digitalization around our assets”, “Digitalization around our customers” and “Strategy execution in Southern Germany.” In the end, participants were able to get an impression of two new construction/modernization projects in downtown Frankfurt in the form of a property tour.
2019 Annual General Meeting
The Annual General Meeting of Vonovia SE was held in Bochum on May 16, 2019. All of the agenda items were carried by a large majority, including the proposal to distribute a dividend of € 1.44 per share. The shareholders can choose whether they want to receive this in cash or as new shares. 45.75% of shareholders opted for the scrip dividend. This corresponds to a dividend yield of 3.6% in relation to the share’s closing price of € 39.59 on the reporting date of December 28, 2018. The dividend for the 2018 fiscal year was paid out from a deposit account for tax purposes. It was therefore paid out to shareholders without withholding tax or the solidarity surcharge being deducted.
Analyst Assessments
At present, 29 international analysts publish studies on Vonovia on a regular basis (as of June 30, 2019). The average target share price was € 51.50 as of June 30, 2019. Of these analysts, 71% issued a “buy” recommendation, with 25% issuing a “hold” recommendation and only 4% recommending that investors sell the company’s shares. One broker has currently suspended coverage of Vonovia due to past acquisitions.