Genova lifts rental income and NAV despite weaker management earnings

Genova Property Group AB ( (SE:GPG) ) has shared an announcement.

Genova Property Group AB reported a 7% rise in rental income to SEK 143 million and a 6% increase in net operating income to SEK 99 million for the first quarter of 2026, although higher electricity and heating costs weighed on performance in the comparable portfolio. Long-term net asset value attributable to shareholders rose 8% to SEK 3,563 million, or SEK 76.72 per share, supported by a property portfolio valued at SEK 10.5 billion and an excess value in building rights of SEK 1.4 billion.

Income from property management fell 46% to SEK 28 million, with management earnings per share down 54%, mainly due to exceptionally strong value gains from joint ventures in the prior-year period that were not repeated. Despite this, net income increased 27% to SEK 89 million on higher positive value changes in properties and derivatives, while leverage edged up with a loan-to-value ratio of 56.3% and the interest-coverage ratio remained stable at 1.8 times, indicating sustained but tightly managed financial capacity.

The most recent analyst rating on (SE:GPG) stock is a Buy with a SEK56.00 price target. To see the full list of analyst forecasts on Genova Property Group AB stock, see the SE:GPG Stock Forecast page.

More about Genova Property Group AB

Genova Property Group AB is a Swedish real estate company focused on owning, managing and developing properties, with a portfolio that includes ongoing construction, planned projects and residential developments. The company operates with a significant building rights portfolio whose excess value is an important component of its asset base and shareholder value.

Average Trading Volume: 13,270

Technical Sentiment Signal: Sell

Current Market Cap: SEK1.66B

For an in-depth examination of GPG stock, go to TipRanks’ Overview page.