Efi Properties Reports 15.4% Net Profit Growth in Q3
Translated & summarized from TheMarker by baba
Efi Properties' stock rose 2% after reporting a 15.4% increase in net profit to $512 million for the third quarter of 2026. The company's Net Operating Income (NOI) grew 8.3% to 300 million shekels, driven by project acquisitions and completions. Efi Properties expects its annualized NOI to reach 1.23 billion shekels soon and potentially 1.52 billion shekels upon completion of new developments.
The story in 5 lines · by baba
- Efi Properties' net profit grew 15.4% to $512 million in Q3 2026.
- The company's stock increased 2% on Thursday after the report.
- Net Operating Income (NOI) rose 8.3% to 300 million shekels in the quarter.
- Year-to-date, the stock has fallen 20%, with a market cap of 7.75 billion shekels.
- Annualized NOI is projected to reach 1.23 billion shekels and then 1.52 billion shekels.
Efi Properties' stock saw a 2% increase on Thursday following the release of positive third-quarter financial reports for 2026. The company announced a 15.4% rise in net profit, reaching $512 million. Despite this quarterly gain, the stock has declined by 20% year-to-date, with the company's current market value standing at 7.75 billion shekels.
Net Operating Income (NOI) for the third quarter amounted to 300 million shekels, an 8.3% increase compared to the third quarter of 2025. This growth is attributed to improved performance in various projects, the acquisition of new projects, and the completion of projects during 2025 whose impact is now being realized. The appreciation of the euro against the shekel partially offset this growth.
Looking ahead, Efi Properties anticipates its NOI will reach an annualized rate of approximately 1.23 billion shekels upon the full occupancy of recently completed projects that were not yet fully contributing in the third quarter. Furthermore, the company is currently developing several projects, which, upon completion, are expected to boost the annualized NOI run rate to 1.52 billion shekels.
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