Eastnine

* NOI -1% and rec PTP +2% vs ABGSCe* EC IFPM -3.4% q-o-q, partly due to cash position, ready for M&A* Occupancy at 97%, cons estimates largely unchangedRecurring PTP +2% vs ABGSCeEastnine delivered a Q3 report with rental income of EUR 15.5m (-1% vs ...

- Occupancy improvement in Q2 - Management open for more accretion - 2025e P/CEPS at 14x, ~12.5% below Swedish office peers Small estimate revisions Eastnine delivered a Q2 report with rental income ~2% below our estimate, while net financial expenses...

- NOI +63% y-o-y and -4% vs ABGSCe - Rec PTP -1% vs ABGSCe, EC IFPM +1.7% q-o-q - Occupancy up 1.1pp q-o-q, estimates unchanged Recurring PTP -1% vs ABGSCe Eastnine delivered a Q2 report with rental income of EUR 15.2m (-2% vs ABGSCe) and NOI of EUR ...

Minor negative revisions following Q1 report Earnings growth of ~40% in '25e Trading ~20% below sector average on P/CEPS We trim our CEPS forecasts by 3% for '26e-'27e Eastnine delivered a Q1 report with adj. recurring PTP -9% vs. ABGSCe (rental income...

NOI +75% y-o-y and -0.7% vs ABGSCe Value uplift 2.1% q-o-q, net LTV at 48.1% EC IFPM +2.3% q-o-q, solid operational figures Recurring PTP -7% vs ABGSCe Eastnine delivered a Q1 report with rental income of EUR 15.6m (-0.3% vs ABGSCe) and NOI of EUR 14...