Faltering Fundamentals in Residential Prompts Cut to Abacus’ FVE to AUD 3.00
At its annual general meeting, or AGM, Abacus Property Group for the first time provided fiscal 2017 distribution guidance of AUD 17.5 cents per security, up 2.9% on AUD 17.0 cents per security previously. Abacus also advised it is seeking to target annual distribution growth of 2%-3%. Aside from greater intent around future distributions, there was nothing noteworthy in the AGM announcement.Owing to evidence of faltering conditions in residential development and evidence of discounting by a m...
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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