The share, number of shares, shareholders and dividends
The Balder share, Balder B, is listed on Nasdaq since 2005 and the share capital amounts to SEK 186,500,000 distributed among 1,119,000,000 shares. The principal owner is Erik Selin Fastigheter AB.
The Balder share is listed on Nasdaq Stockholm, Large Cap. The share capital in Balder amounts to SEK 186,500,000 distributed among 1,119,000,000 shares. Each share has a quota value of SEK 0.16667, of which 67,376,592 shares are of Class A and 1,051,623,408 are of Class B. The total number of outstanding shares amounts to 1,119,000,000. Each Class A share carries one vote, and each Class B share carries one tenth of one vote.
The principal owner in Fastighets AB Balder is Erik Selin Fastigheter AB, which holds 35.1% of the capital and 48.8% of the votes. Other major owners are Arvid Svensson Invest AB and Swedbank Robur fonder. The number of shareholders is currently approx. 22,000.
Why invest in Balder?
Stable growth since its stock exchange launch
Balder’s most important goal is to increase the profit from property management per share over time. In the past five years, profit from property management has increased by an average of 20% per year and the net asset value has increased by an average of 23% per year. During the same period, the share has been traded at an average of 112% of the net asset value and 18 times the profit from property management.
Long-term, engaged owners
The principal owners in Fastighets AB Balder are Erik Selin Fastigheter AB, Arvid Svensson Invest AB and a number of institutional investors. Balder’s goal is to generate the best long-term total yield for its shareholders. The assessment is still that this is best achieved by reinvesting the profits in the business in order to create further growth.
Well-diversified portfolio with focus on capital cities and major cities with growth potential
The company’s total property holdings consist of approx. 60% residential properties and 40% commercial properties. The largest proportion of the market value is found in the Stockholm, Helsinki and Gothenburg regions.
Extensive project portfolio with great potential
The Group has projects comprising just over 180,000 sqm with expected construction starts during 2022, and just over 1,600,000 sqm with expected construction starts in 2023 and beyond.
Strong balance sheet and low financial risk
Balder has an investment grade rating from S&P of BBB with a stable outlook. The rating reflects, among other things, the fact that Balder has a large property portfolio, which is well-diversified both in terms of types of properties and geographical spread, and that Balder has stable rental income, a high and stable occupancy rate and a well-diversified loan maturity structure with a modest share of secured debt.
Analysts following Balder
- Staffan Bülow, Nordea
- Erik Granström, Carnegie
- Fredrik Cyon, Carnegie
- Markus Henriksson, ABG Sundal Collier
- Jan Ihrfelt, Kepler Cheuvreux
- Albin Sandberg, Kepler Cheuvreux
- Johan Edberg, Handelsbanken
- Stefan Andersson, SEB
- Emil Ekholm, Pareto
- Viktor Hökenhammar, Pareto
- Niklas Wetterling, DNB
The dividend
Balder’s goal is to generate the best long-term total yield for its shareholders. The assessment is still that this is best achieved by reinvesting the profits in the business in order to create further growth.
For this reason, the dividend will remain low or will not be declared at all in the next few years. Balder will instead continue to grow by investing in existing properties, new construction and acquisition of new properties.
