ALE Group’s FVE Unchanged Following Broadly In Line 1H19 Results
A change in analyst prompts a reduction in the fair value estimate for ALE Property Group to AUD 4.60 per security from AUD 5.10 and moat rating to none from narrow. Our fair value estimate cut stems from moderately lower expected rent increases from the 2018 rent reviews and a more cautious view on the 2028 rent reviews. However, we maintain our overall positive view on the defensive characteristics of the real estate investment trust. At our new fair value estimate, ALE has a fiscal 2019 divid...ALE Property Trust is engaged in investment in property and property funds management. Co. comprises Australian Leisure and Entertainment Property Trust and its controlled entities. As of June 30 2016, Co. owned a portfolio of 86 pub properties across the five mainland states of Australia.
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