Heimsatden Bostad: Portfolio sales expected
Q1 24 results are showing continued strength on its portfolio operating performance with a high LFL and a bottoming out portfolio valuation. Yet, financial profile is not as strong as business profile despite the steady LTV. Overall, we think the company is planning to execute on large portfolio sales in 2024 listening to their optimism on interest coverage and transaction market. The road will be long but the support of the bond market definitely helps. We keep our BUY.