contentSlug

type

ContentSlug_ContentQuery

slug

ContentPageContentQuery

content

trendingContent

query ContentSlug_ContentQuery(
  $contentSlug: String!
  $type: [ContentType!]
) {
  ...ContentPageContentQuery_13QmVO
}

fragment CompanyDetails_Content on Content {
  __isContent: __typename
  companies {
    name
    description
    pageUrl
    id
  }
}

fragment ContentBasicInfo on Content {
  __isContent: __typename
  id
  type
  title
  lang
  companies {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  tags {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  ...PublishingDetails
  ...Reactions
}

fragment ContentMetadata on Content {
  __isContent: __typename
  type
  title
  lang
  pageUrl
  alternatePageUrls: translations {
    __typename
    pageUrl
    lang
  }
  imgUrl
  description
  ... on Video {
    liveTime
    videoUrl
  }
  ... on Webcast {
    liveTime
    videoUrl
  }
}

fragment ContentPageContentQuery_13QmVO on Query {
  content(slug: $contentSlug, type: $type) {
    __typename
    id
    type
    title
    isPremium
    lang
    htmlBody
    summary
    companies {
      forum {
        latestPosts {
          ...ForumPosts
        }
      }
      name
      id
      viewerIsFollowing
      pageUrl
      defaultInstrument {
        isin
        id
        marketOpen
        marketClose
        marketplace {
          region
        }
        returns {
          total
        }
      }
    }
    tags {
      viewerIsFollowing
      id
      name
      pageUrl
    }
    createdAt
    ... on Video {
      liveTime
    }
    ... on Webcast {
      liveTime
    }
    slug
    ... on CompanyReport {
      reportUrl
    }
    ... on ThirdPartyCompanyReport {
      reportUrl
    }
    ... on StockExchangeRelease {
      reportUrl
    }
    ...ContentBasicInfo
    ...ContentMetadata
    ...PriceAndRecommendation_Content
    ...CompanyDetails_Content
    ...ReportLink_Content
    ...KeyFigures_Content
  }
  ...TrendingContent_1jQ2Cn
}

fragment ForumPosts on ForumPost {
  text
  likesCount
  url
  author
  postedAt
  authorImgUrl
}

fragment KeyFigures_Content on Content {
  __isContent: __typename
  companies {
    defaultInstrument {
      estimateData {
        modelType
        reportingCurrency
      }
      snapshot {
        transaction {
          date
          actualized {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
          }
          estimates {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
          }
        }
      }
      id
    }
    id
  }
}

fragment PriceAndRecommendation_Content on Content {
  __isContent: __typename
  createdAt
  companies {
    name
    pageUrl
    defaultInstrument {
      priceData {
        tradeCurrency
      }
      snapshot {
        priceData {
          date
          lastPrice
          tradeCurrency
        }
        transaction {
          date
          recommendation
          targetPrice
        }
        prevTransaction {
          recommendation
        }
      }
      id
    }
    id
  }
}

fragment PublishingDetails on Content {
  __isContent: __typename
  createdAt
  publishers {
    name
    imgUrl
  }
  authors {
    __typename
    id
    name
    slug
    imgUrl
    jobTitle
  }
  ... on Video {
    liveTime
  }
  ... on Webcast {
    liveTime
  }
}

fragment Reactions on Content {
  __isContent: __typename
  id
  reactionGroups {
    reactionType
    reactionsCount
    viewerReacted
  }
}

fragment ReportLink_Content on Content {
  __isContent: __typename
  type
  isPremium
  ... on CompanyReport {
    reportUrl
  }
  ... on ThirdPartyCompanyReport {
    reportUrl
  }
  ... on StockExchangeRelease {
    reportUrl
  }
}

fragment TrendingContent_1jQ2Cn on Query {
  trendingContent(type: ARTICLE) {
    __typename
    id
    title
    lang
    pageUrl
    createdAt
    type
    imgUrl
    companies {
      squareLogoUrl
      name
      id
    }
    authors {
      __typename
      imgUrl
      id
    }
    publishers {
      imgUrl
    }
  }
}


studentbostader-i-norden-both-higher-growth-and-risks-abg

__typename

title

isPremium

lang

htmlBody

summary

companies

createdAt

publishers

authors

reactionGroups

pageUrl

translations

imgUrl

description

Studentbostäder i Norden operates in the real estate industry. The company is a lessor and manager of student housing. The main focus is on the development of student housing in its own administration. Studenbostäder i Norden operates on the Nordic market. The company was originally established in 2009 and previously went by the name Prime Living. The head office is located in Uppsala. 

Studentbostäder i Norden

Soaring interest rates affect estimates negativelyForecast property value decline of ~10%Both higher growth and discount to NAV vs. peersResults above ABGSCe but interest rates weigh on estimatesStude...

Soaring interest rates affect estimates negatively Forecast property value decline of ~10% Both higher growth and discount to NAV vs. peers Results above ABGSCe but interest rates weigh on estimates Studentbostäder i Norden (SBS) delivered a stable Q2 report with total income and IFPM 2% and 3% above our expectations, respectively. However, the NOI margin of 58.8% (56.2%) fell short vs. ABGSCe at 64.0%, leading to negative estimate revisions. For projects that are not yet started, we move completions further into the future due to extreme construction cost inflation (+14.6% y-o-y in July), affecting rental income negatively for 2024e. Looking at CEPS, interest rate expectations have continued to soar since our last update in mid-May, and as such we incorporate higher interest expenses than previously. The share issue of ~SEK 125m or an increase by ~13% of outstanding shares also affects figures negatively. Organic growth from projects partly hampered by yield shift SBS has &gt;1,600 units (net) in ongoing projects (&gt;30% of the current base of management properties), of which we estimate a project margin above 20%, showcasing the organic value creation in the years to come. All ongoing projects have construction agreements with fixed prices, which is comforting in an environment of high inflation for development costs. However, financing costs and the Swedish 10-year govt. bond have increased rapidly, which is why we now forecast that property values (excl. inflation and project gains) will decrease by ~10% until Q4’23, with the first negative value changes in Q4’22 (in line with our coverage) affecting NAV estimates, as SBS has relatively high gearing. High-beta case, sector facing headwinds The share is trading at a discount to the Q2’22 reported EPRA NRV of ~54% vs. residential peers such as Balder, Trianon and Wallenstam at an average discount of ~23%. In an environment of increased interest rate expectations, SBS should be viewed as a high-beta case. We adjust our... Läs mer på ABG Sundal Collier