Sweden's Logistea Q3 income rises, helped by acquisitions
Sweden's Logistea Q3 income rises, helped by acquisitions
Overview
Sweden real estate firm's Q3 income rose 14% yr/yr, net operating income up 11%
Profit from property management per share for Q3 climbed 31% yr/yr
Company completed several acquisitions, lifting property value above SEK 20 bln
Outlook
Company did not provide specific guidance for future quarters or full year in the press release
Result Drivers
ACQUISITIONS - Co said several property acquisitions during the quarter lifted property value above SEK 20 bln
PROPERTY VALUE GAINS - Changes in property values contributed SEK 225 mln to pretax profit in Q3
CURRENCY MOVEMENTS - Co said currency movements impacted property value by SEK 636 mln in nine-month period
Company press release: ID:nMFN7cMGDV
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
9M Net Asset Value Per Share |
| SEK 18.80 |
|
9M Operating Income |
| SEK 859 mln |
|
9M Pretax Profit |
| SEK 978 mln |
|
9M Profit From Property Management |
| SEK 486 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 Logistea AB is SEK16.00, about 28% above its October 21 closing price of SEK12.50
The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 11 three months ago
Reuters Recommended Reads
Oct 21 - Sweden's Wihlborgs 9-month rental income rises on new leases, projects and renegotiation
Oct 21 - Sweden's Neobo Q3 profit from property management rises on lower costs
Oct 21 - Sweden's Altra Fastigheter Q3 profit from property management per share rises 10%
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.)