Positive Outlook for Grand City Properties Following Q2 Results

First Berlin Equity Research has released a report on Grand City Properties S.A., maintaining a "Buy" recommendation and adjusting the target price from €14.20 to €15.00. Analyst Ellis Acklin highlighted the strong operational performance in Q2, marked by a 3.7% like-for-like rental growth. This is complemented by a positive revaluation result for the quarter, reinforcing the promising developments observed in Q1 and the end of 2024.

The report points out the favorable dynamics in the residential property market in Germany and London, which are expected to drive internal growth. In the Q2 conference call, Grand City Properties was notably vocal about exploring external opportunities, potentially becoming a more active buyer due to anticipated refinancings in the sector.