Log Commercial Properties (LOGG3) posted net income of R$ 121.6 million in 3Q26, up 9.2% from 3Q25. Earnings per share were R$ 1.39, an increase of 9.0%. In the first nine months of 2026, net income totaled R$ 314.3 million, up 10.4%.
Net revenue for the quarter was R$ 57.7 million, down 13.5% from 3Q25. According to the company, average GLA (gross leasable area) was 28.5% lower following large volumes of asset sales. In the nine months, net revenue was R$ 189.8 million, up 3.4%.
EBITDA (earnings before interest, taxes, depreciation and amortization) was R$ 179.1 million in 3Q26, a decrease of 7.1%. Year to date, it reached R$ 443.9 million, down 2.2%. Services revenue totaled R$ 9.1 million, up 48.7%. The financial result was negative R$ 46.8 million, a reduction of 17.3% in the period.
Operationally, the company recorded gross absorption (new leases) of 494.6 thousand m² of GLA, a quarterly record. It delivered 65.3 thousand m², all already leased. The average ticket reached R$ 26.36 per m², up 17.5%, and stabilized vacancy stood at 1.14%. Capex (investments) was R$ 318.5 million.
Adjusted net debt ended the quarter at R$ 906.1 million, equivalent to 1.5x EBITDA for the last 12 months. During the period, Log issued R$ 300 million in debentures, maturing in 2031 and 2033, with an average cost of CDI+0.50%. The company also approved dividends of R$ 86.59 million, equivalent to R$ 0.995 per share and 75% of adjusted net income, payable on November 30, 2026.
