Sweden's Altra Fastigheter Q3 profit from property management per share rises 10%

Altra Fastigheter AB

Yesterday 13:11

Overview
Sweden property firm's Q3 income and net operating income declined, but profit from property management per share rose 10%
Company repurchased 10.2 mln shares for SEK 793 mln during the quarter
Company cut 2026 profit from property management forecast to SEK 1.47 bln from SEK 1.5 bln

Outlook
Altra Fastigheter lowers 2026 profit from property management forecast to SEK 1,470 mln from SEK 1,500 mln

Result Drivers
POSITIVE NET LETTINGS - Co reported positive net lettings in all markets, with new leases signed and occupancy rate rising to 89.2%
PORTFOLIO ROTATION AND SHARE REPURCHASES - Property sales and acquisitions supported capital allocation and enabled continued share buybacks
DEBT REFINANCING - Co completed SEK 3.8 bln in refinancing, lowering interest margins and extending debt maturities

Company press release: ID:nMFN196Qb4

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Net Income
 
SEK 575 mln
 
Q3 Net Operating Income
 
SEK 644 mln
 
Q3 Profit From Property Management
 
SEK 401 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the real estate rental, development & operations peer group is "buy"
Wall Street's median 12-month price target for Altra Fastigheter AB is SEK90.00, about 21.5% above its October 20 closing price of SEK74.05
The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 9 three months ago

Reuters Recommended Reads
Oct 21 - Sweden's Heba Fastighets nine-month profit nearly doubles
Oct 21 - Corem Property Group returns to profit; asset gains offset property value declines
Oct 21 - Sweden's Wihlborgs 9-month rental income rises on new leases, projects and renegotiation

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)