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Estonia's EfTEN United Property Fund Q3 profit drops on lower development gains

By Reuters News


Overview

  • Estonia real estate fund's Q3 net profit fell sharply yr/yr due to lower development gains

  • Company made record annual distributions to investors, totaling about 9% of market cap

  • Fund restructured portfolio, reducing office exposure and increasing retail investments


Outlook

  • Company expects prolonged pressure in Baltic office real estate, especially B- and C-class buildings

  • EfTEN United Property Fund sees strongest prospects in Baltic retail real estate segment

  • Company plans to invest about EUR 1.5 mln in Uus-Järveküla residential expansion through 2029


Result Drivers

  • DEVELOPMENT GAINS TIMING - Co said lower profit was mainly due to most sales and profit from Invego Uus-Järveküla OÜ development occurring in prior yr

  • PORTFOLIO RESTRUCTURING - Fund completed portfolio restructuring, selling office asset and increasing retail exposure


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Total Income

EUR 106,000

Q3 EPS

EUR 0.03


Reuters Recommended Reads

  • Nov 2 - Estonia's Infortar Q3 revenue falls, net profit declines

  • Nov 4 - Global Net Lease Q3 revenue falls on asset sales

  • Nov 2 - Realty Income's Q3 revenue beats; raises 2026 AFFO per share outlook


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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