Swedish Logistic Property's 9M rental income rises 24%, helped by acquisitions

By Reuters News


Overview

  • Property owner's 9M rental income rose 24% yr/yr

  • Net operating income for 9M increased 25% yr/yr

  • Company acquired six properties and began several new logistics projects


Outlook

  • Company expects ongoing construction projects to generate SEK 50 mln in net operating income by end-2027

  • Swedish Logistic Property says it has a strong acquisition pipeline supporting continued growth


Result Drivers

  • POSITIVE NET LETTINGS - Co said positive net lettings contributed to Q3 performance

  • PROJECT ACTIVITY - Co cited high level of project activity as a driver of Q3 results

  • ACQUISITIONS - Co said several acquisitions in strategic logistics locations supported growth in Q3


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

9M Rental Income

SEK 920 mln

9M EPS

SEK 2.54

9M Net Asset Value Per Share

SEK 36.49


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 2 "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 Swedish Logistic Property AB is SEK41.00, about 26.9% above its October 14 closing price of SEK32.30

  • The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 14 three months ago


Reuters Recommended Reads

  • Oct 15 - Sweden's Emilshus posts higher profit on stable occupancy; hikes forecast, to start paying dividend

  • Oct 13 - UK's Bellway sees 10% volume lift from first-time buyer scheme


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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