Asset Sales and Performance Fees Help Abacus to Stellar Earnings Growth. FVE Unchanged at AUD 3.20
Abacus Property Group prereleased fiscal 2017 earnings, expecting underlying profit in the range of AUD 182-187 million, roughly AUD 32 million or AUD 5.5 cents per security above our previous forecast of AUD 152 million. We’ve left our fair value unchanged for no-moat Abacus at AUD 3.20, with the upside from the higher-than-expected fiscal 2017 earnings, partly offset by cuts we have made to the rental growth outlook for Abacus’s AUD 375 million of retail shopping centres.The stronger-than-exp...
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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