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Analyses on Immobilien
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Deutsche Wohnen: The Guaranteed Dividend With an Asset Kicker
A 6.5% coupon, legally enforceable, owed by an investment-grade debtor. The squeeze-out floor sits above the share price. The catch: Vonovia owns the clock.
Foxtons Group: The Lettings Core Holds, the Valuation No Longer Does
Lettings is growing and the 24–26% M&A ROIC stands, but H1 2026 cuts the earnings base by 19%. Fair value £0.45, bear case at the share price: Hold.