Sweden's Dios Fastigheter Q3 rental income falls on lower summer demand

By Reuters News


Overview

  • Sweden property firm's Q3 rental income fell 2%, while income from property management rose 5%

  • Q3 operating surplus decreased 1% to SEK 479 mln

  • Company saw increased rental market activity in September after quieter summer months


Outlook

  • Company says rental market activity increased in September after quieter summer months

  • Company sees continued selective market with tenants prioritising location, functionality and quality

  • Diös says priorities remain close tenant relationships, high letting activity and efficient property management


Result Drivers

  • RENTAL MARKET ACTIVITY - Co said rental market activity increased in September following quieter summer months

  • SELECTIVE TENANT DEMAND - Co said tenants are increasingly prioritizing location, functionality and quality of premises

  • NET LETTING IMPROVEMENT - Net letting rose to SEK 4 mln in the qtr from SEK 1 mln a year earlier


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 EPS

SEK 2.59

Q3 Net Income

SEK 360 mln

Q3 Operating Surplus

SEK 479 mln


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 1 "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 Dios Fastigheter AB is SEK75.50, about 33.2% above its October 22 closing price of SEK56.70

  • The stock recently traded at 8 times the next 12-month earnings vs. a P/E of 9 three months ago


Reuters Recommended Reads

  • Oct 22 - Sweden's Eastnine property portfolio grows 27% after Warsaw deal

  • Oct 22 - Sweden's Sagax Q3 rental revenue slightly beats estimates, profit forecast raised

  • Oct 22 - Sweden's Castellum nine-month income falls on divestments


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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