Arena Performing Well but in Line with Expectations. Securities Remain Undervalued.
No-moat-rated Arena REIT continues to traverse the turbulent child care sector well and the 6.5% increase in earnings per security, or EPS, in fiscal 2018 is in line with both our forecasts and management's guidance. We have maintained our fair value estimate of AUD 2.50 and, at the current market price of AUD 2.21, continue to believe the securities are undervalued. Our fiscal 2019 distribution forecast implies a 6.3% increase versus fiscal 2018 which is in line with management's new guidance. ...Arena REIT No. 1 (ARF1) is a Trust. The objective of the Trust is to generate and predictable income distributors to investors with earnings growth prospects over the medium to long term. The Company is a part of the Arena REIT Stapled Group.
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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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