Investor Relations Activities, Analyst Assessments and Dividend
Investor Relations Activities
In 2021, Vonovia participated in a total of 29 investors’ conference days and organized 14 roadshow days. In addition, Vonovia took part in various investor forums and numerous one-on-one meetings with investors and analysts to keep them informed of current developments and special issues. In 2021, we held several hundreds of talks with analysts and investors. In addition to the coronavirus pandemic and its impact on Vonovia’s business model, our talks with the capital market covered the topics of sustainability, the investment program, rent regulation in Germany and national and international acquisition targets particularly frequently.
After we had to suspend our annual Capital Markets Day for institutional investors and analysts once again in 2021, we plan to resume the annual event series as soon as the coronavirus pandemic allows, at the very least as a hybrid event. You can find more details on our Investor Relations website.
We will also continue to communicate openly with the capital market in 2022. Various roadshows, conferences and investor forums have already been planned. Information can be found in the Financial Calendar on our Investor Relations website.
Positive Analyst Assessments
As of December 31, 2021 24 analysts were publishing studies on Vonovia on a regular basis (figure as of: December 31, 2021). Due to the Deutsche Wohnen transaction, three analysts were restricted at this time and are not publishing any recommendations. The average target share price was € 63.09 per share as of December 31, 2021 with 76.2% of analysts issuing a “buy” recommendation, 19.0% issuing a “hold” recommendation and 4.8% issuing a “sell” recommendation.
For information on the banks that report on Vonovia and value its shares, please visit our Investor Relations website.
The continuity of our business model is also reflected in our dividend policy. Our aim is to distribute around 70% of our Group FFO to our shareholders. As far as the 2021 fiscal year is concerned, we plan to propose a dividend per share of € 1.66 to the Annual General Meeting, which represents an increase of € 0.08 per share as against 2021 and corresponds to a dividend yield of 3.4% based on the closing price of the company’s shares of € 48.50 as of December 31, 2021.