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26. January 2021 | 08:00 CET

HeidelbergCement, Pollux Properties, Aareal Bank: Better than concrete gold

  • Real Estate
Photo credits:

Real estate is the Germans' favorite asset class. Even during the first lockdown, market participants did not lose their nerve. Although the current situation for commercial real estate is not exactly rosy, with vacancies even in many inner-city locations, at least residential real estate is developing as if there were no crisis. Reason enough to take a closer look at three real estate stocks.

time to read: 3 minutes by Nico Popp
ISIN: SG1I77884290 , DE0006047004 , DE0005408116



Nico Popp

At home in Southern Germany, the passionate stock exchange expert has been accompanying the capital markets for about twenty years. With a soft spot for smaller companies, he is constantly on the lookout for exciting investment stories.

About the author

HeidelbergCement: Boring but solid

When you build, you need building materials. As the third-largest building materials group, HeidelbergCement is a safe bet. Above all, the Company is not exclusively dependent on developments in Germany but benefits from the global trend. In addition to a solid revenue share of just over 40% in Europe, HeidelbergCement also does business in North America (around 25%) and Asia-Africa (26%). The Company came under pressure in 2020 because of the pandemic and even conceded its long-term outlook. Development in the USA and Asia shows that at least the construction industry got back on track towards the end of the year.

HeidelbergCement's share price today is roughly where it was a year ago. In the meantime, investors have had many opportunities to buy up at favourable prices. For example, if you consider that housing is still in short supply in many metropolitan regions, the outlook for the building materials group from Heidelberg should not be so bad. The trend towards sustainability and the lavish cash injections should also benefit the real estate markets. With the crisis in its home stretch, investors can look at HeidelbergCement. The business is diversified globally and the stock is tradable daily. These qualities alone make it stand out from concrete gold.

Pollux Properties: Real estate in Asia's Switzerland

Not to be compared with the somewhat conservative global conglomerate HeidelbergCement is the real estate company Pollux Properties, from Singapore. The Company invests in real estate and operates as a real estate developer. In total, the Company manages assets worth just under SGD 390 million. These include residential properties but also office buildings or space for retailers. In 2020, Pollux Properties generated revenues of just under SGD 15 million and EBITDA of SGD 7.7 million. Compared to the previous year, earnings increased by a whopping 46%. As the Company states, they also have more than SGD 30 million in cash. On the stock market, Pollux is currently valued at around SGD 90 million.

Although the share does not catch the eye of many investors at first glance, due to its existence as a penny stock, the value could prove to be promising under certain circumstances. Pollux Properties operates in Singapore and thus benefits from the island state's boom as a hub for the whole of Asia. The city-state is already considered one of the world's wealthiest countries and is often referred to as the Switzerland of Asia. It seems unlikely that the positive development there will ever come to an end - after all, building land and attractive real estate, in particular, are rare. While the share is currently trending sideways in Singapore and Frankfurt, investors can take a closer look at the Company - Pollux Properties is still not very well known.

Aareal Bank: Good name, healthy dividend

Whenever properties change hands, brokers - and banks - rejoice. Aareal Bank is considered a specialist in property financing. In the first half of 2020, the Company made a name for itself with low figures. Due to the pandemic, the Company had to manage risk, which caused profits to melt away. In the meantime, the share price has recovered somewhat, but it is still down just over 30% over the course of a year. Since Aareal Bank operates globally and has a good name in the industry, it should return to growth after the crisis. Those who think long-term can also consider the share thanks to the dividend yield of around 4.9%.

From a chart perspective, the EUR 20 mark could point the way ahead. If the share stabilizes above it, the sideways trend could turn into a flat upward trend. Below EUR 20, on the other hand, there is a risk of a decline towards EUR 15. Even though Aareal Bank and other stocks from the property sector are currently of little interest to short-term investors, the stocks are potential stragglers. Particularly in smaller stocks, such as Pollux, decisions at the corporate level have a more significant impact and can lead to a revaluation even if the overall market is weakening.


Nico Popp

At home in Southern Germany, the passionate stock exchange expert has been accompanying the capital markets for about twenty years. With a soft spot for smaller companies, he is constantly on the lookout for exciting investment stories.

About the author

Conflict of interest & risk note

In accordance with §34b WpHG we would like to point out that Apaton Finance GmbH as well as partners, authors or employees of Apaton Finance GmbH may hold long or short positions in the aforementioned companies and that there may therefore be a conflict of interest. Apaton Finance GmbH may have a paid contractual relationship with the company, which is reported on in the context of the Apaton Finance GmbH Internet offer as well as in the social media, on partner sites or in e-mail messages. Further details can be found in our Conflict of Interest & Risk Disclosure.

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17. February 2020 | 11:15 CET | by Mario Hose

HELMA Eigenheimbau AG - the real estate pearl from Lower Saxony

  • Real Estate

HELMA Eigenheimbau AG is one of the leading German construction service providers with a full-service offer. The focus is on the development, planning, sale and construction management of individually planned single-family homes, which are built in traditional solid construction on the customer's land. Via the subsidiary HELMA Wohnungsbau GmbH, which acts as a broadly diversified project developer and property developer, there is also the possibility to acquire the individual dream house in various metropolitan regions of Germany, also together with a suitable plot of land, from one source.


16. January 2020 | 09:31 CET | by Mario Hose

Buy Homes & Holiday: Analysts see significant upside potential

  • Real Estate

Homes & Holiday AG should significantly increase sales and earnings in the current year 2020. This is expected by the analysts of GBC Research in their current study. On the basis of the refocusing on the core business on the Balearic Islands, which began in 2019, GBC has valued the specialist for holiday properties using a DCF model and calculated a fair value of EUR 1.05 per share. Based on the current price level of around EUR 0.40 per share, the analysts see high potential and have given the share a Buy rating. The potential market potential is very high.


06. January 2020 | 05:50 CET | by Mario Hose

Rent cap keeps Vonovia & Co on its toes: MOREH offers 6% fixed interest rate with commercial property

  • Real Estate

The discussions surrounding a rent cap in Berlin and other cities have repeatedly caused uncertainty among shareholders of real estate companies such as Vonovia in 2019. No improvement is in sight for 2020. Anyone who focuses on commercial real estate is not affected by this. For example, the real estate portfolio owner M Objekt Real Estate Holding GmbH & Co. KG, MOREH for short. In the summer of 2019, the company issued a corporate bond with a fixed interest rate of 6.00 percent with a semi-annual payment and extensive collateral. The security with a term of five years can be traded on numerous German stock exchanges. MOREH is a classic real estate portfolio holder with a focus on commercial real estate in Western Germany. Experts consider the MOREH bond to be attractive and have invested.