Property Valuation Levels Strengthen Balance Sheet but Also Thwart Acquisition Opportunities
ALE Property Group reported distributable profits of AUD 29.6 million for fiscal 2016, broadly in line with our forecast of AUD 28.8 million. Revenue from properties increased 1.7% on a like-for-like basis following consumer-price-index-linked rent increases in November 2015. Management expenses of AUD 4.9 million were AUD 0.4 million higher year on year, mainly owing to one-off items. Borrowing costs were lower because of the full impact of reduced margins after the refinancing in June 2014. We...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.
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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