Sweden's NP3 Fastigheter Q3 rental income rises, maintains profit forecast
Sweden's NP3 Fastigheter Q3 rental income rises, maintains profit forecast
Overview
Sweden commercial property owner's Q3 rental income rose 12% yr/yr
Q3 profit from property management grew 12% yr/yr, driven by higher net operating income
Net profit after tax for Q3 increased 52% yr/yr
Outlook
NP3 maintains 2026 profit from property management forecast at SEK 1,240 mln
Company expects stable demand but notes longer decision-making due to interest rate volatility
NP3 sees good prospects to strengthen occupancy rate and cash flow as economy recovers
Result Drivers
HIGHER RENTAL INCOME - Co said Q3 net operating income rose mainly due to higher rental income from a larger property portfolio
LOWER INTEREST RATE - CEO said profit from property management rose due to higher net operating income and a lower average interest rate
ACQUISITIONS IMPACT - Co said vacancy value increased slightly, mainly due to vacancies in acquired properties
Company press release: ID:nMFN8MPxXs
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Rental Income |
| SEK 639 mln |
|
Q3 Net Profit After Tax |
| SEK 514 mln |
|
Q3 Profit From Property Management |
| SEK 355 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 SEK309.00, about 39.5% above its October 15 closing price of SEK221.50
The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 16 three months ago
Reuters Recommended Reads
Oct 15 - Swedish Logistic Property's 9M rental income rises 24%, helped by acquisitions
Oct 15 - Sweden's Emilshus posts higher profit on stable occupancy; hikes forecast, to start paying dividend
Oct 15 - Sweden's Wallenstam nine-month profit rises on wind divestment
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.)