LEG Immobilien stock reports confirmed 2026 guidance realistically supported by H1 figures? no

Published on 10/05/2026 at 13:54 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

LEG Immobilien stock stood at EUR 45.56 on October 5, 2026, while H1 AFFO fell 12.7 percent year over year. Guidance stayed intact.

Börsenhändler diskutieren vor Bildschirmen mit Kurscharts und MDAX-Anzeige — LEG Immobilien SE (DE000LEG1110) notiert im MDAX, symbolisiert durch die belebte Handelsfläche der Frankfurter Börse, Illustration mit AI erstellt.

LEG Immobilien stock (ISIN DE000LEG1110) was trading at EUR 45.56 on Xetra on October 5, 2026, at 1:37 p.m. CEST, up 0.62 percent from EUR 45.28. The company confirmed its 2026 AFFO guidance of EUR 220 million to EUR 240 million in its half-year update dated August 4, 2026, according to LEG Immobilien.

H1 cash flow sets the frame

LEG reported H1 AFFO of EUR 110.5 million, compared with EUR 126.6 million in H1 2025, a year-over-year decline of 12.7 percent. The figure was affected by higher investments and cash interest, while management said the second half should benefit from subsidies and lower portfolio investment.

In the Q2 2026 earnings call, Yahoo Finance reported that adjusted EBITDA increased 2.3 percent to EUR 368.1 million and that the adjusted EBITDA margin reached 77.8 percent. Like-for-like rent growth was 3.7 percent, while the vacancy rate stood at 2.3 percent in H1 2026.

Leverage moves closer to target

LEG's loan-to-value ratio was 45.5 percent in H1 2026, down from 47.6 percent a year earlier. The 2.1 percentage-point reduction brings leverage close to the company's 45 percent target, although the dividend payment was expected to create a temporary third-quarter increase.

Management also confirmed full-year FFO 1 guidance of EUR 475 million to EUR 495 million. The company said its H1 valuation result was positive at 0.7 percent, or EUR 135 million, while disposals completed or signed during the first half totaled more than 1,000 units with proceeds of EUR 78 million, according to Yahoo Finance.

Goldman target remains above the stock

Goldman Sachs kept a Neutral rating but lowered its LEG price target from EUR 64.50 to EUR 50.20 on September 7, 2026, citing higher rates and revised estimates, as reported by Finanzen AT. The revised target lies 10.2 percent above the October 5 price, leaving the market focused on whether rent growth and deleveraging can offset refinancing pressure.

LEG Immobilien stock stays below its yearly high

LEG Immobilien stock was last at EUR 45.56 on Xetra on October 5, 2026, with a session range of EUR 44.80 to EUR 45.76 and a 52-week range of EUR 44.72 to EUR 71.65. Trading volume stood at 111,909 shares and market capitalization was EUR 3.5 billion on the same date.