Abacus’ FVE Unchanged Following Joint Takeover Bid for Australian Unity Office Fund
We maintain no-moat Abacus Property Group’s fair value estimate at AUD 3.85 per security following transfer of coverage to a new analyst and Abacus and Charter Hall Group’s joint proposal to acquire all the units of Australian Unity Office Fund, or AOF. AOF is an ASX-listed REIT with a portfolio consisting of nine office properties located across Sydney, Adelaide, Melbourne, Brisbane, and Canberra. At this early stage, we don’t have enough confidence the proposed takeover will complete in its pr...Abacus Property is a property group that operates predominantly in Australia. Co.'s operating segments include: property, which is engaged in the investment in and ownership of commercial, retail and industrial properties; funds management, which includes development, origination, co-investment and fund management activities; property ventures, which provides secured lending and related property financing solutions and is also responsible for Co.'s investment in joint venture developments and construction projects, as well as Co.'s investment in property securities; and storage, which is engaged in the investment in and ownership of self-storage facilities.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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