The housing group $LEG (-0,32%) increased its operating profit (AFFO) by 4.9% to 190.1 million euros in the first nine months and expects to post earnings in the middle of the forecast range of 220 to 240 million euros by year-end. For the coming year, the company anticipates a further increase of 4%. This would more than offset the adverse effects of rising interest expenses. Investments in the existing portfolio are expected to remain at around 35 euros per square meter. The company also intends to maintain its policy of distributing 100% of AFFO as well as a share of proceeds from real estate sales. Regarding the valuation of its portfolio, LEG anticipates a decline of up to 1% by year-end, which would reverse the appreciation seen at mid-year. The loan-to-value (LTV) ratio currently stands at 46.5%. The annual target of 45% is unlikely to be met due to the decline in value and slower-than-expected sales. By the end of September, 1,300 apartments had been sold for a gross total of 189 million euros.