Neinor Homes continues to position itself as one of the most relevant values in the Spanish residential market, after acquiring 96.83% of Aedas Homes after its second takeover bid aimed at minorities. Given the situation of Neinor Homes, analysis houses such as Renta 4 reiterate their recommendation of “overweight”, setting a target price at 20.60 euros per sharewhich means a revaluation potential of 16.12% at current quote prices.
To Rent 4 Bank The takeover bid for Aedas «represents transformational operation for Neinor Homes, through which it will integrate one of the highest quality land banks, giving rise to what will be unquestionably the largest Spanish developer by housing development capacity (approx. 40,000 homes: 24,000 100% owned)». Likewise, its exhibition in Madrid stands out, since it is one of the most dynamic regions in Spain. Renta 4 also affirms that Neinor will see its main financial figures more than doubled, having the capacity to distribute more than 500 million euros in dividends (2025-2027), improving the ROE up to >15%!.
Recently, the company has called an ordinary general meeting for the next April 7 in Bilbao, in which it will propose the approval of an extraordinary cash dividend of 70 million eurosequivalent to 0.708 euros per share. The payment will be made from freely available voluntary reserves for a total amount of 69.94 million euros. Along with this extraordinary dividend, the company will vote on a capital reduction of almost 40 million euros to return contributions to shareholders by reducing the nominal value of the securities by 0.4046 euros per share.
Added to this is another great movement that has not gone unnoticed within the market: Goldman Sachs returns to Neinor’s capital with a 3% stake in Neinor’s capital after the takeover bid for AEDAS, a movement that reinforces the perception of institutional interest in the promoter in this new phase.
Neinor shares accumulate a revaluation of 17.37% in the last twelve monthsdespite the fact that the stock fell 1.98% today.
In 2025, the company registered a net profit of 122 million euros, 80% more than the previous year, while revenues grew by 39%, up to 697 million. Added to this is a pre-sales book of 8,909 units, which contributes nearly 3,000 million euros in future income and offers high coverage for the coming years.