Solid Q3 and limited estimate revisions Divestments and long-term swaps to protect the ICR.
NOI and Rec PTP +2% and -2%, respectively, vs ABGSCe Limited net letting, flat occupancy, strong margin ICR at ~1.
- Positive net letting and higher rental levels - Floating debt with higher interest rates takes down CEPS - Trading ~20% below sector ave...
Q2 NOI +14% y-o-y ,-2% vs ABGSCe Higher net financials than expected, IFPM -15% vs ABGSCe Positive net letting and continued high occupancy ...
Stable top line and solid NOI margin... ...coupled with prolonged interest maturity.
Q1 NOI 0% vs ABGSCe Property value changes -1.8% vs ABGSCe -1.
Operationally sound Diös delivered a Q4 report with rental income -2% vs ABGSCe.
Q4 NOI -3% vs ABGSCe Property value changes -1.1%, net LTV 51.
Mgmt. guides for net letting to hold up well in Q4 Neg.
Inflation drives rental income and NOI by ~3-4%... …while interest rates hold back CEPS (~0% to -3%) ~15-40% below peers on last reported...
Transactions and high net letting offset top-line miss Higher reported interest rate explains CEPS revisions Another bn-sized investment app...
Net operating income -3% vs. ABGSCe Net leasing (TTM) was SEK 74m (17m in Q2) +2% vs.
Higher interest rate expectations lower CEPS …but positive operational signs are encouraging EPRA NRV down on higher yield expectations New...
Solid operational performance and project progress +100bps interest rate to our ’24e impacts CEPS by -14% ’21-’24e EPRA NRV CAGR of 13% Com...
NOI +5% vs ABGSCe and +4% vs cons. Like-for-like rental income +3.
Adj. for EO item, cash flow came in as expected FYe property value changes of 3.
