Castellum falls as it cuts dividend target, posts lower Q1 results
** Shares of Castellum CAST.ST slide 4% after the Swedish real estate group lowered its dividend policy and booked unrealised losses on property portfolio in Q1
** Castellum said on Thursday it will distribute at least 25% of income from property management as dividends, compared with at least targeted 50% earlier
** This may have caused some dividend-oriented investors to sell Castellum shares on Friday, Carlsquare analyst Bertil Nilsson says
** Castellum reports Q1 net investment of SEK 235 million ($21.64 million), down from SEK 413 million last year
** It says the market is "more hesitant" as the fight against inflation continues
** Peer Balder BALDb.ST falls 5.6% after it posted a much wider Q1 net loss
** Nilsson notes Balder and Castellum reported unrealised losses of SEK 652 million and SEK 1.02 billion, respectively, on their property portfolios
** This is the same negative trend that Fabege FABG.ST reported earlier this reporting season, he adds
($1 = 10.8596 Swedish crowns)
Reporting by Agnieszka Oleńska
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