Corrected: Swiss Prime Site H1 rental income rises on new leases

Swiss Prime Site AG

20/08/2026 06:11

Corrects operating income to CHF 270.3 million from CHF 40 million in table

Overview
Switzerland real estate firm's half-year rental income rose 2.2% yr/yr
Asset management operating income grew 5.2% yr/yr, driven by higher assets under management
Company confirmed 2026 guidance

Outlook
Swiss Prime Site expects 2026 FFO I at upper end of CHF 4.25-4.30 per share range
Company sees 2026 rental income rising and vacancy rate declining
Company maintains organic AuM growth target of around CHF 1.0 bln per year for Asset Management

Result Drivers
RENTAL INCOME GROWTH - Co said rental income rose due to new leases, lease extensions at higher rents, and prior-year acquisitions
ASSET MANAGEMENT INFLOWS - Record new money and higher assets under management boosted asset management income
REVALUATION GAINS - Property portfolio value rose due to reduced property management costs, higher rents, and a lower discount rate

Company press release: ID:nEQ9WNb6Ta

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
H1 Rental income
 
CHF 230.60 mln
 
H1 Operating Income
 
CHF 270.3 mln
 

Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 3 "strong buy" or "buy", 5 "hold" and 2 "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 Swiss Prime Site AG is CHF126.50, about 1.3% above its August 19 closing price of CHF124.90
The stock recently traded at 30 times the next 12-month earnings vs. a P/E of 33 three months ago

Reuters Recommended Reads
Aug 18 - PSP Swiss Property H1 profit rises on asset sale, portfolio revaluations
Aug 20 - Zug Estates H1 profit falls 33% on smaller revaluation gain
Aug 18 - German apartment building permits rise 14% in June as sector recovers

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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.)