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Vonovia SE on the Capital Market

Shares in Vonovia

The war in Ukraine was the main focus on the capital markets in the first half of the year. The impact on supply chains, consumer prices and, in particular, central bank monetary policy dominated developments on the stock markets. In this environment, it came as little surprise to see negative performance in almost all sectors: DAX -20%; EuroStoxx 50 -20%; EPRA Europe -30%.

In this exceptionally difficult overall market, shares in Vonovia reported above-average losses, trading at € 29.40 at the end of the second quarter. This was due, in particular, to the close negative correlation with government bond yields. Similarly, higher interest rates and the resulting capital market fears of a knock-on effect on earnings and property values likely played a decisive role in the drop in performance.

We are observing an ever-wider gap between capital market expectations on the one hand, and ongoing stable development on the market for direct real estate investments on the other. While the capital market appears to be pricing in a marked correction, the residential property markets in which we operate remain extremely robust.

As a result, we remain confident that the fundamental conditions in our markets will ensure positive development in the long run. These include, in particular, the favorable relationship, from an owner’s point of view, between supply and demand in urban regions as well as the structural momentum on the revenue side.

The company’s market capitalization amounted to around € 23.4 billion as of June 30, 2022.

Share Price Development

Share Information (as of June 30, 2022)

Share Information (as of June 30, 2022)

First day of trading

July 11, 2013

Subscription price

€ 16.50 | € 14.71*

Total number of shares


Share capital

€  795,849,997





Ticker symbol


Common code


Share class

Registered shares with no par value

Stock exchange

Frankfurt Stock Exchange

Market segment

Regulated market


DAX 40, EURO STOXX 50, DAX 50 ESG, Dow Jones Sustainability Index Europe, STOXX Global ESG Leaders, EURO STOXX ESG Leaders 50, STOXX Europe ESG Leaders 50, FTSE EPRA/ NAREIT Developed Europe and GPR 250 World

  1. * TERP-adjusted.