DIC Asset AG (DAZ) climbed the most in three weeks in Frankfurt trading after the German property company forecast higher funds from operations for 2012 as acquisitions add to rental income.
DIC gained as much as 6.5 percent to 7.02 euros, the biggest intraday jump since Feb. 20, and was trading up 4 percent at 11:04 a.m. FFO, a measure of a company’s ability to generate cash, will be within a range of 43 million euros ($57 million) to 45 million euros, Frankfurt-based DIC said in a statement today. That’s up from 40.6 million euros in 2011.
The company, which manages real-estate assets of about 3.3 billion euros, plans to invest at least 200 million in properties this year, DIC said. That will help gross rental income to rise to as much as 126 million euros from 116.7 million euros, it said.
Net income dropped to 10.6 million euros last year from 16.5 million euros in 2010, DIC said. The company plans to pay an unchanged dividend of 35 cents a share.
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