Negative net leasing drags Castellum shares down

Shares in Castellum CAST.ST slide 7% to nearly bottom of STOXX index .STOXX after the landlord posted weaker-than-expected Q1 results

Handelsbanken analyst Johan Edberg point out that Castellum's result from property management of SEK 1.06 billion ($109.9 million) for the quarter missed Infront consensus by 8%

Analysts from Handelsbanken and Carlsquare flag the Swedish real estate group's negative net leasing of SEK 184 million

Net leasing was impacted by challenging rental market and the bankruptcy of Northvolt, Castellum's CEO said in the report

Castellum's peers Balder BALDb.ST, Sagax SAGAa.ST, Wallenstam WALLb.ST are down 2-3%

($1 = 9.6442 Swedish crowns)