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Deutsche Wohnen FY'17 FFO I rises 12.6% YOY

Deutsche Wohnen SE said its funds from operations I for full-year 2017 amounted to €432.3 million, an increase of 12.6% from €383.9 million in the year-earlier period.

FFO I per share rose 7.9% year over year to €1.23.

The S&P Capital IQ consensus FFO estimate for 2017 was €1.23 per share.

FFO II increased 10.1% on an annual basis to €482.6 million, or €1.37 per share, from €438.2 million, or €1.30 per share.

The company said it will propose a dividend of 80 euro cents per share for 2017 at the 2018 annual general meeting, 8% higher than the 74 cents per share payout for 2016.

Deutsche Wohnen's rental income for the reporting period rose to €744.2 million from €704.5 million, and net operating income increased to €567.5 million from €545.7 million in the year-ago period. The company's loan-to-value ratio dropped to 34.5% from 37.7% at Dec. 31, 2017.

Earnings from disposals, however, declined slightly to €50.3 million from €54.3 million.

For full year 2018, the German residential property company estimates an FFO I of roughly €470 million.