Nivika: When the market misses the mark - Arctic
Bildkälla: Stockfoto

Nivika: When the market misses the mark - Arctic

We initiate coverage on Nivika Fastigheter AB with a fair value range of SEK 35-60 per share.
In our view, the company has recently taken several value-accretive steps, including share
buybacks and a sharpened focus on warehouse and light industrial properties—evident in
SEK 418m of acquisitions completed so far in 2025.

Despite this strategic shift, the stock continues to trade in line with residential-focused peers—even though approximately two thirds of the portfolio consists of commercial properties, predominantly in the market’s favoured segment: warehouse and light industrial. Looking ahead, we expect solid IFPM growth and believe Nivika will continue to execute on initiatives that drive long-term value creation.

https://drive.google.com/file/d/1M4xZmkDxEWLTFg75nCGMshl9e5Rl3vBV/view?usp=drive_link
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