Analysguiden is lowering its fair value for real estate company Fastator to SEK 0.50 from the previous SEK 0.80 following the latest review of asset values and the company's recapitalization. This is stated in a recent commissioned research report.

For 2025, a significant deficit was reported following write-downs in real estate as well as negative contributions from associated companies. Net asset value per share fell to minus SEK 3.20 from plus SEK 4.41 the previous year.

In January, a recapitalization was carried out where debt was converted into shares and new capital was injected, which reduced indebtedness by approximately SEK 1.76 billion and raised the equity ratio to 63 percent. At the same time, the dilution for existing shareholders will be significant, the analysts write.

Analysguiden also points to remaining uncertainty in the subsidiary Point Properties and is therefore adding a higher risk premium to the valuation.