ALE Property Group’s Income in Line with Expectations; Fair Value Estimate Unchanged
Narrow moat-rated ALE Property Group remains undervalued at current prices. ALE Property Group is trading at a 10% discount to our AUD 4.80 fair value estimate and offers an estimated distribution yield of 4.7% in fiscal 2017. The group has a relatively long-weighted average lease expiry of 11.8 years, and has a major corporate, ALH Group, as its only tenant. We expect the pub portfolio to remain fully leased over the forecast period, with occupancy levels at 100%.ALE Property Group’s interim d...
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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