Sweden's Corem Property Q1 income hit by lower occupancy

Corem Property AB

22/04/2026 07:12

Overview

Sweden real estate firm's Q1 income and net operating income declined yr/yr amid lower occupancy

Company reported negative net letting for Q1, reflecting cautious demand and recent tenant terminations

Company continued share repurchases and finalized sale of US property, boosting liquidity for Q2

Outlook

Company expects higher interest rates in 2026, which may increase interest expense

Corem anticipates increased leasing activity and a more dynamic second quarter

Company expects significant liquidity inflow in Q2 from 417 Park Avenue sale, boosting financial flexibility

Result Drivers

TENANT TERMINATIONS - Lower occupancy and revenue due to large tenant terminations, including Ericsson's exit in Kista, per company

HIGHER OPERATING COSTS - Cold winter led to increased heating and snow removal expenses, impacting costs, per company

CAUTIOUS MARKET DEMAND - Negative net letting reflects cautious demand and longer decision cycles among tenants, per company

Company press release: ID:nWkr2mwPV8

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Net Letting
-SEK 22 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 1 "strong buy" or "buy", 1 "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 Corem Property Group AB is SEK4.70, about 14.4% above its December 12 closing price of SEK4.11

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(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.)