Sweden's NP3 Fastigheter Q2 profit from property management rises; lifts FY profit forecast
Sweden's NP3 Fastigheter Q2 profit from property management rises; lifts FY profit forecast
Overview
Sweden real estate firm's Q2 rental income rose 10% yr/yr
Profit from property management for Q2 rose 13% yr/yr, driven by portfolio growth
Company raised 2026 profit from property management forecast due to higher income and lower costs
Outlook
NP3 Fastigheter raises 2026 profit from property management forecast to SEK 1,240 mln
Company expects completed investments and lower credit margins to drive higher income
NP3 Fastigheter plans continued investment in new markets to strengthen earnings
Result Drivers
PORTFOLIO EXPANSION - Co said profit from property management rose due to a larger property portfolio and completed lettings
NEW MARKET INVESTMENTS - Co accessed acquired properties in new markets, including Skaraborg and Trestad, supporting portfolio growth
LOWER FINANCIAL COSTS - Co said reduced credit margins and preference share issue lowered relative financial costs
Company press release: ID:nMFN9Nk8j3
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Rental Income |
| SEK 621 mln |
|
Q2 Net Profit After Tax |
| SEK 354 mln |
|
Q2 Profit From Property Management |
| SEK 318 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", no "hold" and 1 "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 NP3 Fastigheter AB is SEK305.00, about 12.1% above its July 9 closing price of SEK272.00
The stock recently traded at 16 times the next 12-month earnings vs. a P/E of 13 three months ago
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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.)