Balder shares up after Q4 print, property value changes less severe than peers'

Fastighets AB Balder

10/02/2023 10:44

** Shares in Fastighets Balder  BALDb.ST  rise 3%, paring
earlier gains of as much as 8.7%, after the Swedish real estate
firm reported results for Q4, posting lower negative value gains
on its properties than its peers
    ** Changes in value of Balder's investment properties were
negative of SEK 742 mln ($71.45 mln) in Q4, equivalent to minus
0.4% of the property value at the beginning of 2022, Carlsquare
analyst Bertil Nilsson points out 
    ** He adds that the seven Swedish property companies that
reported Q4 results up until Thursday, including Vasakronan
 VASA.UL , Fabege  FABG.ST   urn:newsml:reuters.com:*:nFWN34M028, and Wallenstam
 WALLb.ST   urn:newsml:reuters.com:*:nNDL4FTVxJ, were on average at -3% of their
property values, which is lower than Balder
    ** Nilsson adds that Balder has also developed a debt target
to appease its lenders, which is positive, although many other
real estate companies are also working on getting better credit
ratings
    ** Balder is among the top performers on the pan-European
STOXX 600 index  .STOXX 
($1 = 10.3856 Swedish crowns)
 (Reporting by Louise Breusch Rasmussen, Agnieszka
Gosciak-Rabalska)
 ((Louisebreusch.rasmussen@tr.com,
Agnieszka.gosciak@thomsonreuters.com))