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Deutsche Wohnen's Q1 FFO I climbs 8.8% YOY

Deutsche Wohnen SE's funds from operations I for the first quarter ended March 31 was €123.1 million, a rise of 8.8% from €113.1 million in the prior-year period.

On a per-share basis, FFO I reached 35 euro cents, marking a 6.1% incline from the 33 cents recorded in the first three months of 2017.

The S&P Capital IQ consensus FFO-per-share estimate for the quarter was 33 cents.

The German real estate company said FFO II totaled €127.9 million compared with €121.7 million in the year-earlier term.

Earnings after taxes rose 118.6% year over year to €103.4 million from €47.3 million, while earnings before interest, taxes, depreciation, and amortization climbed on an annual basis to €160.6 million from €155.2 million.

Net asset value, measured in terms of the European Public Real Estate Association, came in at €36.05 per share during the 2018 first quarter, up from the €35.74 in the year-ago period.

Deutsche Wohnen affirmed its FFO I target for the full-year 2018 at about €470 million.