Abacus Takes Steps to Become King of Self Storage. FVE Increases to AUD 3.70
Abacus Property Group reported first-half fiscal 2019 earnings on a funds from operations, or FFO, basis of AUD 11.3 cents per security, or cps, down 18% on the previous corresponding period, or pcp. The decline in FFO is of little consequence as the pcp was buoyed by high and nonrecurring transaction profits. The first-half dividend of AUD 9.25 cps remains conservative, representing 82% of FFO. Fiscal 2019 earnings guidance was not provided, other than a reiteration of a distribution target of ...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.
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