Aktuellt
SENASTE
Cibus's Q4 income from property management (IFPM) was in line with Infront consensus, adjusting for one-offs. Earnings capacity was largely as expected after the two large acquisitions made in Q4 2020. The dividend proposal of EUR 0.94 for 2020 was also as expected. Although it acquired properties for EUR ~370m in 2020, Cibus targets more investments of EUR 50-100m foro 2021. We expect CIbus to continue making add-on acquisitions in Finland and Sweden before entering other Nordic markets. We keep our fair value range at SEK 160-180 per share, based on a mix of P/EPRA NAV, peer valuations, and DCF. Cibus intends to grow its dividend by 5% annually and has started distributing dividends on a monthly basis.
LÄS MER
