Vonovia stock rises 4.5% as rental earnings hold up

Published on 11/07/2026 at 12:03 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Vonovia stock advanced over the week as rental operations remained resilient. Higher financing costs continued to weigh on earnings and property sales.

Vonovia balances growth and financing pressure

Adjusted rental EBITDA rose 3.5% in the first nine months despite a smaller residential portfolio.
Value-add adjusted EBITDA increased 31.4%, while higher financing costs reduced adjusted EBT by 3.5%.
Vonovia expects 2027 adjusted EBITDA to grow slightly, with financing costs remaining a key constraint.

Vonovia, DE000A1ML7J1, Illustration mit AI erstellt.

Vonovia stock gained 4.45% between the Xetra close of Friday, October 30, at 16.18 euros and Friday, November 6, at 16.90 euros. The move came during a week dominated by Vonovia's nine-month results and fresh changes in its shareholder structure.

Rental operations remain resilient

In its results released on Wednesday, November 4, Vonovia said adjusted EBITDA from Rental rose 3.5% to 1,912.2 million euros in the first nine months of 2026, despite owning approximately 5,000 fewer residential units than a year earlier. Organic rent growth was 3.8%, while the vacancy rate stood at 2.3%.

The company's Value-add segment provided additional momentum. Adjusted EBITDA increased 31.4% to 197.2 million euros, supported by the craftsmen organization and the energy business. Vonovia also realized approximately 900 million euros in disposals year to date.

At the same time, financing costs and cautious transaction markets remained a drag. Adjusted total EBITDA rose 3.3% to 2,187.4 million euros, but adjusted EBT fell 3.5% to 1,408.0 million euros. Adjusted shareholder earnings declined 6.6% to 1,121.4 million euros. Vonovia's 9M 2026 results release attributed pressure on sales-related earnings mainly to higher financing costs.

Outlook remains cautious

Vonovia expects slight growth in adjusted EBITDA in 2027, while adjusted EBT and adjusted shareholder earnings should remain broadly in line with 2026. Organic rent growth is expected at around 4%. For 2028, the company targets adjusted EBITDA at the lower end of a 3.2 billion to 3.5 billion euro range, subject to the timing of disposals.

Vonovia stock traded at 16.91 euros on Lang & Schwarz at 12:00 CET on Saturday, November 7, 2026, 0.06% above the Xetra close of Friday, November 6. The real-time quote of Vonovia stock provides the latest market indication.