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Tobias Kaj ... (+2)
  • Tobias Kaj
  • Victor Krüeger

Fastator - Transaction activity up due to two new JVs

High transaction activity via JVs and existing holdings Point and Studentbostäder both had strong quarters P/NAVPS of 85%, NAVPS CAGR of 37% in last 3 years

Tobias Kaj ... (+2)
  • Tobias Kaj
  • Victor Krüeger

Sector Fast Comment - Real estate seminar: highlights & links

Main focus on rentals and CSP for a majority of the companies Ambition to grow from developments and acquisitions Low exposure to the most cyclical parts but optimistic outlook

Staffan Bulow ... (+3)
  • Staffan Bulow
  • Tobias Kaj
  • Victor Krüeger

Fastator - 37% NAVPS growth in Q3

NAVPS of SEK 110 vs. ABGSCe of SEK 116 NAVPS growth of 37% y-o-y and 3% q-o-q P/NAVPS (last reported) of 106%

Staffan Bulow ... (+2)
  • Staffan Bulow
  • Tobias Kaj

Fastator - Approaching the Offentliga Hus IPO

Recurring EBIT of SEK -1.2m (vs. ABGSCe SEK 17.9m) Estimate revisions related to net acquisitions P/NAVPS of 102% vs. average of 72%

Staffan Bulow ... (+2)
  • Staffan Bulow
  • Tobias Kaj

Fastator - Diversified income streams reduce risk

Recurring EBIT of SEK 1.3m in Q1 (vs. ABGSCe 14m) Estimate revisions relate to paused acquisition P/NAVPS from 1.5x to 0.7x since peak in February

Staffan Bulow ... (+2)
  • Staffan Bulow
  • Tobias Kaj

Fastator - Expansion phase continues

IPO of Offentliga Hus expected in 2020 Offentliga Hus earnings capacity up 13% q-o-q DPS proposal of SEK 3.0 (0.0): dividend yield of 2.6%

Staffan Bulow ... (+2)
  • Staffan Bulow
  • Tobias Kaj

Fastator - Large IPO opportunity in 2020

Point Properties + Industrisamhället in an expansion phase Offentliga Hus’ properties booked at ~SEK 13,600 sqm NAVPS discount of 1% and NAVPS CAGR of 42% last 2y

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