Sweden's Platzer Q2 rental income rises on positive net lettings
Sweden's Platzer Q2 rental income rises on positive net lettings
Overview
Sweden commercial property owner's Q2 rental income rose 2% yr/yr
Income from property management for Q2 grew 4% yr/yr
Company repurchased SEK 97 mln of its own shares in the quarter
Outlook
Platzer says it is cautiously optimistic about the future amid gradual economic recovery
Result Drivers
POSITIVE NET LETTINGS - Co reported SEK 34 mln in positive net lettings, supporting improved occupancy and income growth
INDUSTRIAL & LOGISTICS FOCUS - Co said it strengthened its position in industrial and logistics during the qtr
Company press release: ID:nWkr7ZBtyZ
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
H1 Rental Income |
| SEK 873 mln |
|
H1 Income From Property Management |
| SEK 409 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 1 "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 Platzer Fastigheter Holding AB (publ) is SEK80.00, about 14.1% above its July 2 closing price of SEK70.10
The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 10 three months ago
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.)