MaxFastigheter Generating strong cash flow
The stock has had one of the steepest drops in the sector so far during the Covid-19 crisis, down 33% YTD, outperformed by the real estate index ESLD by 11%. We expect solid long-term demand for its assets and forecast FFO growth per share of 25% in 2020 and 14% 2021 driven by completed acquisitions and ongoing developments. We initiate coverage with a fair value of SEK30–41/share.MaxFastigheter i Sverige AB is a Sweden-based company, which is primarily focused on real estate development and operations industry. The Company owns, manages and develops commercial properties. The Company's property portfolio consists of commercial properties located on various local venues in Sweden, such as Avesta, Eskilstuna, Fagersta, Karlstad, Norrkoping, Sandsvall, Vasteras, Osthammar. Its property portfolio's leasable area is approximately 70,000 sqm.
DNB Markets is the investment banking arm of DNB Bank ASA and is focused primarily on the Nordic region, as well as internationally on niches such as global shipping, energy and related services, and seafood. DNB Markets offers services in FICC, Equities and Investment Banking advisory from offices in Oslo, Stockholm, London, Singapore and New York. Equity research coverage is offered on c250 Nordic companies. DNB was ranked no.2 in Extel Nordic Research 2017. The DNB Markets’ Credit and FICC Macro & FX Research teams are repeatedly highly rated by Prospera Nordic Institutional Investor Surveys.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.