Enlight Research updated equity research on EfTEN Real Estate Fund AS

Enlight  Research updated  the equity  research and  price target  of EfTEN Real
Estate  Fund AS (EfTEN; EFT1T) shares  and increased the target price. According
to  the analysis,  the fair  value of  the share  is 22.86 euros  under the base
scenario.  This is 1,6% higher as compared  to the analysis published by Enlight
Research  in last  December and  almost 20% higher  compared to the last closing
price of the stock on the Tallinn Stock Exchange.

Enlight  Research points out  the following aspects  regarding EfTEN Real Estate
Fund   AS:  (i)  increasing  dividend  distributions;  (ii)  high  occupancy  in
logistics,  retail and  elderly care  segments; (iii)  first signs of decreasing
vacancy in office segment; (iv) conservatively priced real estate portfolio.

The  analysis  can  be  found  on  the  website  of  EfTEN  Real  Estate Fund AS
(https://eref.ee/en/investorile/analuutiku-raportid/) and the website of Enlight
Research (https://research.enlightresearch.net/EnlightIndex.action?).



Kristjan Tamla
EfTEN Capital AS
Managing Director
Tel: +372 655 9515
E-post: [email protected] (mailto:[email protected])