Orava Residential REIT provided earnings guidance for the fourth quarter and full year of 2016. The company announced that the combined impact of the housing acquisitions at the end of December and the change in the fair value of the investment properties in October-November on the profit for the fourth quarter amounted to approximately EUR +0.2 million. The change in the fair value of previously acquired investment properties was estimated to be slightly negative in December. Moreover, in its interim report for the third quarter, the company estimated that it is reasonable unlikely to come close to its targeted total return of 10% on shareholders’ equity on 2016. The company’s specified estimate of the result for the fourth quarter is approximately EUR -0.4 million and for the financial year approximately EUR +1.6 million. The result is explained mainly by the negative change in the fair value of the investment properties in the fourth quarter and by the increase in maintenance and repair costs primarily due to seasonal variation.