Hufvudstaden HUFV A

Stockholm | Commercial real estate
Follow Hufvudstaden free Follow free

Email when the signal or risk changes · Sunday weekly brief

No card · No time limit on free tier · Upgrade when you need more

Updated: 6 Nov 2026 Base analysis: 6 Apr 2026

The news check keeps the assessment current.

General analysis — not personal advice.

HOLD Clear

Hold. Consider a gradual add (e.g., 10–20%) if H1/Q2 confirms sustainably lower vacancy and stable/positive value changes while the NAV discount persists.

Strengthened balance sheet and positive operational trends support the ongoing HOLD signal despite remaining market uncertainties.

Market sentiment Positive ↑
Trend: Improving

Sentiment has strengthened following the credit rating and buyback announcement signalling financial strength.

Risk assessment Low
Dilution: Low Strong balance sheet; buybacks; no equity raise
Jurisdiction: Low Sweden; stable legal and regulatory framework
Execution: Medium Project delivery and NK turnaround may slip

HOLD is the call. Positive is the market mood. Low risk means less can go wrong.

Latest change
  • 6 Nov 2026 — Report shows lower vacancy and higher gross profit driven by stable rental income plus Moody's A3 rating.

The full analysis is open. Follow the company free for the full change history — and email next time the picture changes.

Show all changes (3) — follow the company free
About the company

Hufvudstaden is a Swedish real estate company owning, developing and managing premium commercial properties in central Stockholm and Gothenburg. The group also operates the Nordiska Kompaniet (NK) department stores and related activities. It focuses on prime office and retail locations with low leverage.

Sector: Commercial real estate
Type: Other
Next report (Annual)
11 Feb 2027
Catalysts
◐
Dec 2026
Kvarteret Johanna: completion High
◐
Dec 2026
Kåkenhusen 40: move-in/leasing Medium
Bull case

Prime locations in Stockholm and low leverage provide resilience supported by positive value changes and the buyback.

Bear case

Cautious office market in Gothenburg and macro uncertainty may limit rental growth and valuations.

Why this signal

Strengthened balance sheet and positive operational trends support the ongoing HOLD signal despite remaining market uncertainties.

Recent news
  • The Q3 report was released on 5 November together with Moody's A3 credit rating with stable outlook and a share buyback programme of up to SEK 1 billion. Vacancy rate fell to 4.5 % and gross profit rose 6 %.

Key figures

Revenue
Q3 2026
SEK 826M
Net income
Q3 2026
SEK 315M
Total debt
Q2 2026
SEK 11.8B
Gross margin
Jan-Sep 2026
52.2%
Shares outstanding
Q2 2026
UNITS 194M
EPS
Q3 2026
SEK 1.62
Exchange
Stockholm
Sector
Commercial real estate
Hufvudstaden HUFV A
Hufvudstaden — this picture changes. Follow free
Follow Hufvudstaden free Follow free
Firelda provides general information and analysis, not personal investment advice. Content does not consider your financial situation or goals. Investments can rise and fall in value. Always do your own research.