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Performance and valuation data for Nordic real estate stocks as of 19 April 2024.
Performance and valuation data for Nordic real estate stocks as of 12 April 2024.
Performance and valuation data for Nordic real estate stocks as of 5 April 2024.
CEPS down on fewer rate cuts. Focus on capex and reducing debt. Trading at 16% NAV discount and 15x CEPS, HOLD, TP SEK 75 (65).
Swedish economy set to outperform in 2025, with buoyant conditions for real estate. Tables have turned since January – more BUYs than SELLs.
Performance and valuation data for Nordic real estate stocks as of 29 March 2024.
Performance and valuation data for Nordic real estate stocks as of 22 March 2024.
Performance and valuation data for Nordic real estate stocks as of 15 March 2024.
Performance and valuation data for Nordic real estate stocks as of 8 March 2024.
Performance and valuation data for Nordic real estate stocks as of 1 March 2024.
Gearing down 3-4pp p.a. in '24-'26e, which is great for bond holders but incremental returns for equity investors are too low.
Performance and valuation data for Nordic real estate stocks as of 23 February 2024.
Performance and valuation data for Nordic real estate stocks as of 16 February 2024.
Performance and valuation data for Nordic real estate stocks as of 9 February 2024.
Performance and valuation data for Nordic real estate stocks as of 2 February 2024.
Performance and valuation data for Nordic real estate stocks as of 26 January 2024
Performance and valuation data for Nordic real estate stocks as of 19 January 2024
Lower risks of both rights issues and covenant breaches more than reflected after the recent rally. P/CEPS of ~18x with limited earnings growth; four downgrades.
FX and interest rates affect estimates. Focus on capex and reducing debt. Limited short-term potential — HOLD.
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