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Heimar stock, Heimar hf.

Heimar stock advances as rent growth fuels new dividend policy

Published on 11/09/2026 at 02:19 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS
Heimar stock follows stronger nine-month operations and a new dividend policy. Rental income rose 12.2 percent year over year through September.

Heimar reports stronger nine-month results

  • Rental income rose 12.2 percent year over year in the first nine months of 2026.
  • The board aims to distribute at least 60 percent of net cash from operating activities each year.
  • Heimar expects property projects to add future rental income while occupancy remains close to 96 percent.
Heimar stock, Heimar hf., real estate, nine-month results, dividend policy, Iceland, Illustration mit AI erstellt.
Heimar stock, Heimar hf., real estate, nine-month results, dividend policy, Iceland, Illustration mit AI erstellt.

Heimar reported stronger operating performance for the first nine months of 2026 on Thursday, November 5. According to Placera, rental income increased 12.2 percent from the same period a year earlier, while operating revenue reached ISK 13.179 billion.

Revenue growth supports distributions

EBITDA rose 10.3 percent to ISK 8.880 billion. Net profit reached ISK 4.197 billion, compared with ISK 2.864 billion a year earlier. Rental income also grew 7.2 percent above inflation, while like-for-like rental growth was 3.1 percent.

The board approved a new dividend policy alongside the results. Heimar aims to distribute at least 60 percent of net cash from operating activities each year and plans to place greater emphasis on dividends than on share buybacks. The policy links future shareholder distributions to operating cash generation rather than solely to property revaluations.

Property pipeline remains active

Heimar invested approximately ISK 8.1 billion in its property portfolio during the first nine months. The company finalized agreements to sell two properties for approximately ISK 1.2 billion, with completion expected in the coming months.

The portfolio comprised 98 properties with about 392,000 square meters. Occupancy was approximately 96 percent. Heimar also reported that its offer to develop and lease a nursing home at Eirhöfði 2 had been selected in a market survey, although a final lease agreement remains subject to further negotiations.

Business model and market position

Heimar is an Icelandic commercial real estate company that invests in, leases and manages properties. Its portfolio includes offices, service premises, retail space and other commercial facilities, with rental income supported by public entities and listed companies.

Heimar operates in the same listed Icelandic real estate market as Reitir and Eik. Compared with these larger established property groups, Heimar presents itself as a focused owner and developer of commercial premises in Iceland, with core-area development central to its portfolio strategy.

For broader market context, see current market reports.

Heimar at a glance

  • Reporting period: First nine months of 2026
  • Operating revenue: ISK 13.179 billion
  • Rental income: ISK 12.548 billion, up 12.2 percent year over year
  • EBITDA: ISK 8.880 billion, up 10.3 percent
  • Net profit: ISK 4.197 billion
  • Occupancy: Approximately 96 percent
  • Property portfolio: 98 properties and approximately 392,000 square meters
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