Sweden's Altra Fastigheter Q3 profit from property management per share rises 10%

By Reuters News


Overview

  • Sweden property firm's Q3 income and net operating income declined, but profit from property management per share rose 10%

  • Company repurchased 10.2 mln shares for SEK 793 mln during the quarter

  • Company cut 2026 profit from property management forecast to SEK 1.47 bln from SEK 1.5 bln


Outlook

  • Altra Fastigheter lowers 2026 profit from property management forecast to SEK 1,470 mln from SEK 1,500 mln


Result Drivers

  • POSITIVE NET LETTINGS - Co reported positive net lettings in all markets, with new leases signed and occupancy rate rising to 89.2%

  • PORTFOLIO ROTATION AND SHARE REPURCHASES - Property sales and acquisitions supported capital allocation and enabled continued share buybacks

  • DEBT REFINANCING - Co completed SEK 3.8 bln in refinancing, lowering interest margins and extending debt maturities


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Net Income

SEK 575 mln

Q3 Net Operating Income

SEK 644 mln

Q3 Profit From Property Management

SEK 401 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 Altra Fastigheter AB is SEK90.00, about 21.5% above its October 20 closing price of SEK74.05

  • The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 9 three months ago


Reuters Recommended Reads

  • Oct 21 - Sweden's Heba Fastighets nine-month profit nearly doubles

  • Oct 21 - Corem Property Group returns to profit; asset gains offset property value declines

  • Oct 21 - Sweden's Wihlborgs 9-month rental income rises on new leases, projects and renegotiation


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.)

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