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German commercial real-estate company owning office and hotel properties, and holding a majority stake in Grand City Properties.
German commercial real-estate company owning office and hotel properties, and holding a majority stake in Grand City Properties.
Collects rent on offices and on hotels leased to operators, and through its majority stake in Grand City it also consolidates rent from apartments. Income is hit by vacancy and borrowing costs. It is Luxembourg-based but owns property mainly in Germany, the Netherlands and London.
In one line: A German diversified commercial REIT.
Moat: narrow (scale, installed base). Large diversified German commercial property portfolio, but high leverage and office-market softness pressure valuations.
Headquarters: Luxembourg City, Luxembourg · Founded: 2004 · Employees: 1,621
Size Aroundtown (AT1.DE) is a Germany Real Estate company (Real Estate Investment Trusts) with a market value of $2.04B, the 106th largest of 205 Germany companies the cockpit tracks. Shares closed at €1.67 on 6 Nov 2026.
Performance Over six months the shares fell 31.9%, against -2.2% for the median peer and +2.6% for the Germany market (cap-weighted) — 2nd lowest of 21 in its peer set.
Growth Revenue grew 1.1% over the last twelve months (peer median +5.8%); the operating margin is 59.6% (peer median 41.7%).
Valuation It trades at 5.9× forward earnings against a peer median of 21.1× (2nd cheapest of 21).
Credit Aroundtown has 24 bonds outstanding ($11.8B), rated BBB by the agencies and trading like BB at a weighted spread of 187 bp.
Next results Next results expected around 25 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | €1.55B | €1.54B | €1.54B | €1.60B | €1.61B |
| Revenue growth | — | 0% | -4% | 0% | — |
| Gross profit | €987M | €994M | €992M | €964M | €915M |
| EBITDA | €944M | €916M | €946M | €938M | €712M |
| Net income | €403M | €665M | €52.9M | -€1.99B | -€645M |
| Free cash flow | €516M | €559M | €568M | €542M | €558M |
| Capital expenditure | €20.6M | €20.4M | €19.3M | €16.2M | €26.4M |
| Total debt | €19.1B | €19.1B | €19.2B | €19.3B | €19.7B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Aroundtown AT1.DE | $2.04B | -32% | +1% | 60% | 5.9× | n/a |
| Vonovia VNA.DE | $16.1B | -24% | -17% | 40% | 9.4× | n/a |
| Covivio COV.PA | $5.64B | -16% | +5% | 54% | 9.2× | n/a |
| Grand City Properties GYC.DE | $1.42B | -19% | +2% | 55% | 5.3× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | AT1.DE | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +13.0% | +4.6% | 4th highest of 21 |
| 6-month return | -31.9% | -2.2% | 2nd lowest of 21 |
| Distance from 52-week high | -49.2% | -10.5% | lowest of 21 |
| Revenue growth (TTM) | +1.1% | +5.8% | 6th lowest of 21 |
| Operating margin | 59.6% | 41.7% | 6th highest of 20 |
| Forward P/E | 5.9× | 21.1× | 2nd cheapest of 21 |
| Bond spread | 187 bp | n/a | — |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Aroundtown AT1.DE | Germany | $2.04B | -32% | +1% | 60% | 5.9× | n/a | n/a |
| Parkway Life Real Estate Investment Trust C2PU.SI | Singapore | $2.05B | 0% | +3% | 82% | 22.2× | n/a | n/a |
| Industrial & Infrastructure Fund Investment 3249.T | Japan | $2.07B | -12% | +36% | 37% | 16.8× | n/a | n/a |
| BWP Trust BWP.AX | Australia | $2.01B | -2% | +2% | 87% | 19.2× | n/a | n/a |
| Mitsui Fudosan Logistics Park 3471.T | Japan | $2.00B | -13% | +156% | 28% | 23.1× | n/a | n/a |
| Xenia Hotels & Resorts XHR | United States | $1.97B | +26% | +4% | 8% | 36.9× | n/a | n/a |
| Primaris Real Estate Investment Trust PMZ-UN.TO | Canada | $2.11B | +21% | +18% | 38% | 26.6× | n/a | n/a |
| RLJ Lodging Trust RLJ | United States | $1.92B | +40% | +1% | 10% | 700.2× | n/a | n/a |
| Getty Realty GTY | United States | $1.92B | -14% | +11% | 59% | 20.1× | n/a | n/a |
| Activia Properties 3279.T | Japan | $1.90B | -10% | +24% | 47% | 18.1× | n/a | n/a |
| Great Portland Estates GPE.L | United Kingdom | $1.90B | +17% | +24% | 21% | 34.7× | n/a | n/a |
| Boardwalk Real Estate Investment Trust BEI-UN.TO | Canada | $2.21B | -5% | +3% | 62% | 63.1× | n/a | n/a |
| Region RGN.AX | Australia | $1.89B | +6% | +30% | 45% | 14.4× | n/a | n/a |
| Crombie Real Estate Investment Trust CRR-UN.TO | Canada | $2.22B | -3% | +4% | 42% | 26.3× | n/a | n/a |
| ARMOUR Residential REIT ARR | United States | $1.87B | -29% | -140% | n/a | 4.5× | n/a | n/a |
| Blackstone Mortgage Trust BXMT | United States | $1.85B | -42% | -2% | 36% | 9.2× | n/a | n/a |
| SmartStop Self Storage REIT SMA | United States | $2.31B | +20% | +21% | 22% | 56.3× | n/a | n/a |
| H&R Real Estate Investment Trust HR-UN.TO | Canada | $1.80B | -10% | -6% | 60% | 17.0× | n/a | n/a |
| Champion Real Estate Investment Trust 2778.HK | Hong Kong | $1.80B | -8% | -8% | 61% | 19.7× | n/a | n/a |
| Sunstone Hotel Investors SHO | United States | $2.33B | +19% | +7% | 10% | 59.0× | n/a | n/a |
| Charter Hall Long WALE REIT CLW.AX | Australia | $1.78B | +4% | +40% | 56% | 14.0× | n/a | n/a |
Aroundtown has 24 bonds outstanding with $11.8B face value. The agencies rate it BBB; its bonds trade like BB. Weighted yield 5.17%, a spread of 187 bp over government bonds.