Grand City buys 20.04% of LEG Immobilien. UBS targets LEG Immobilien stock at EUR 66.00

Published on 10/22/2026 at 09:55 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Second-quarter revenue rose to EUR 342.4 million from EUR 340.9 million. LEG Immobilien stock costs EUR 48.65, 0.60 percent above Xetra close.

Ownership and valuation context

Grand City Properties announced a 20.04 percent LEG stake on October 20, 2026.
UBS maintained a Buy rating and a EUR 66.00 target on October 21, 2026.
LEG Immobilien stock trades at EUR 48.65 at 9:44 a.m. CEST at Lang & Schwarz on October 22, 2026, 0.60 percent above the Xetra close of October 21, 2026.

Aquarellmalerei einer deutschen Stadtsilhouette mit Wohnhäusern am Flussufer — LEG Immobilien SE (DE000LEG1110) besitzt Wohnbestände in deutschen Städten, hier als stimmungsvolles Aquarellbild dargestellt, Illustration mit AI erstellt.

LEG Immobilien (ISIN DE000LEG1110) was trading at EUR 48.65 at Lang & Schwarz on October 22, 2026, at 9:44 a.m. CEST, up 0.60 percent versus the Xetra close of October 21, 2026 at EUR 48.36. The latest catalyst is Grand City Properties' acquisition of a 20.04 percent stake, while UBS maintained its Buy rating and a EUR 66.00 price target on October 21, 2026, as reported by Markets Insider.

Grand City builds a strategic stake

The Financial Times reported on October 20, 2026 that Grand City Properties had entered agreements taking its LEG holding to 20.04 percent. The announcement valued the related LEG equity at EUR 1.8 billion based on June 2026 figures and said the stake could rise to 29.9 percent, although Grand City described it as a financial investment.

LEG said on October 21, 2026 that it shared Grand City and Aroundtown's belief in the substantial upside of its strategy and real estate portfolio. The company also said shareholders were not required to take action, according to the Deutsche Boerse release.

What does the target imply?

The EUR 66.00 UBS target is 35.66 percent above the Lang & Schwarz price of EUR 48.65. The valuation debate comes alongside second-quarter revenue of EUR 342.4 million, up from EUR 340.9 million a year earlier, while net profit was EUR 203.7 million in both periods, according to Markets Insider.

The chronology shows three recent valuation signals. On October 14, 2026, Jefferies cut its target from EUR 82.00 to EUR 72.00 while keeping a Buy rating, as reported by Wallstreet Online. On October 20, 2026, Grand City announced its 20.04 percent holding. On October 21, 2026, UBS kept its EUR 66.00 target.

Two dates now matter

LEG's next quarterly report is scheduled for November 12, 2026, and its next listed investor conference is scheduled for November 13, 2026, according to the LEG Immobilien investor-relations calendar.

Stock holds above the Xetra close

At EUR 48.65, the stock was EUR 0.29 above the Xetra close of October 21, 2026, a modest daily comparison beside the larger gap to UBS's target. The price was trading at EUR 48.65 at Lang & Schwarz on October 22, 2026, at 9:44 a.m. CEST, up 0.60 percent versus the Xetra close of October 21, 2026 at EUR 48.36. The further course of trading is shown by the continuously updated real-time quote of LEG Immobilien stock.