We see the lack of rent discounts in Q3 as a sign of tenant-base strength, as well as confirmation of the asset book value by the external appraiser, as the value change was unchanged in the quarter - despite the pandemic. Postponing its growth target by one year (asset value of
No rent discounts in the quarter and flat value revisions indicate strength. Q3 EPS adj. was
Growth focus unchanged, but timeframe delayed. Due to Covid-19-related market changes, MaxFastigheter postponed its growth targets (asset value of
EPS forecasts lowered. After updating our revenue, vacancy and net interest forecasts, we have cut our 2021-2022e EPS by c5%. Our forecasts also now reflect the recent
We find the 39% EPRA NRV discount attractive. The stock is trading 39% below its EPRA NRV (peer group at a 16% premium) and at 9.5x 2021e P/FFO. Our fair value range of
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