German property company Deutsche Wohnen saw preliminary adjusted earnings before tax from continuing operations of €141.3 million ($151.4 million), or €0.36 per share, for the first quarter, the company reported on Tuesday.
On an adjusted basis, net asset value (NAV) was €17.01 billion, or €42.85 per share, lower than the €19.461 billion, or €49.03 per share, reported last year.
As of March 31, the company's portfolio comprised a total of around 140,000 residential units.
First-quarter results are scheduled to be reported on May 3.