Deutsche Wohnen Declines on Plan to Increase Share Capital

Deutsche Wohnen AG, Germany’s third-largest publicly traded residential landlord, fell the most in almost six weeks after announcing a plan to increase its share capital by a maximum of 20.5 million euros ($28 million).

The shares dropped as much as 4.7 percent. Deutsche Wohnen will raise its capital to as much as 102.3 million euros by offering new stock to its shareholders, according to a statement today. The Frankfurt-based company’s net income climbed to 2.78 million euros in the third quarter from 1.99 million euros a year earlier, according to a separate statement.

Deutsch Wohnen was down 52 cents, or 5.6 percent, at 10.76 euros at 11:10 a.m. in Frankfurt, the most since Oct. 4. The shares have dropped less than 1 percent in the past six months, while the CDAX Performance Index has lost 18 percent.

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