2Sem.·

Vonovia Assessment Community

Could Vonovia $VNA (-1,02 %) now a good buy for Buy&Hold?

Dividend yield at the current price is over 4.5% with room for improvement.

Housing remains scarce due to expensive new construction and immigration. A good situation for portfolio holders like Vonovia.

In fact, 3000 residential units are to be built again, whereas new construction had previously been halted.

Interest rate situation difficult to assess.

Populism against Vonovia and co. is often used for election campaign purposes, but it makes no sense to take active action, as the state itself cannot provide housing more effectively.

If so, the state (e.g. the federal state of Berlin) buys hundreds of residential units from Vonovia in packages using taxpayers' money, without actually creating new living space. Also rather advantageous for the company.

What is your opinion on this?

8 Commentaires

Froggo@Froggerino

2Sem.

The big problem for Vonovia is the truly gigantic debt that has to be serviced.
Unfortunately, the situation does not look any better due to the new government debt.
The management has already taken the right steps. Apartments sold, I think the dividend will remain the same (but I'm not sure).

I have it in my portfolio myself and I think it is currently in a good range. I will continue to hold it and possibly expand it further via a savings plan.

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Malte@Malte123

2Sem.

@Froggerino Yes, the interest rate situation will be decisive. Similar to Reits

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Kurz@MrKurt89

2Sem.

I have held Vonovia for many years and have also been through the dry spell of recent years. Nevertheless, the company is an absolute long-term recommendation for me, for the reasons mentioned above. For my taste, the dividend policy should also be a little more defensive in order to be able to refinance itself (high debt). But these are luxury problems :)

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Das Portfoliopferd@Portfoliopferd

2Sem.

@MrBoelter90 Same

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MHi_292@Valueformoney

2Sem.

I have an expandable position in Vonovia in my portfolio (a good 1%), and I see a good investment case there in the long term. VNA has massively devalued its balance sheet in recent years - if you compare the net asset value with new construction prices, you are buying really cheap real estate here ..., due to the market situation with at least inflation-compensating rent increases as a counterweight to interest costs. . I am actually hoping for a short-term volatile situation in the share price, from around EUR 23 or below that would be a buy price for me and I would add to my holdings.

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Homer@Simpson

2Sem.

I had it in the depot, it was a mistake 😂

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Malte@Malte123

2Sem.

@Simpson still bought in 2021 before the downturn?

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Homer@Simpson

2Sem.

@Malte123 2017

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