I increased my Dt. Wohnen position today by 50% at a price of €18.70.
Main reasons remain the large discount to NAV + probably relatively conservative book values.
I remain interested in increasing the position further subject to more in-depth work.
I continued to increase my position by another 33% at a price of €17.78 (Up 100% in total from 2 weeks ago)
The position is now my third largest, slightly ahead of 1&1.
My main reason is my belief that the company is fundamentally undervalued with limited downside of the stock price from here, given the real and tangible value of it’s property portfolio.
I increased my position again by another 20% due to the reasons described here.
I sold my position at an average of 24.95€ due to this share exchange offer.
My main reasons are that I am not knowledge how likely it is that there will be an improved offer, I don’t want to be dependent on Vonovias stock price and I see better investment opportunities in the market.