Best Idea Folkestone Education Trust’s Results on Target; Its Tenants Gathering Strength
Our fair value estimate for narrow moat-rated Folkestone Education Trust remains unchanged at AUD 3.10 per unit, which is trading at a 22% discount to our intrinsic assessment. Following the reported distributable income of AUD 18.7 million for the six months ended Dec. 31, 2016, the trust is on track to meet our estimate of distributable income of AUD 38.8 million for the full fiscal year 2017. The distribution guidance of AUD 14.2 cents per unit was also reiterated, in line with our estimate, ...Folkestone Education Trust is a property trust investing in early learning property assets. Co. is an early learning property owner which at June 30 2016 owned a total of 393 early learning properties, which including eight development sites in locations around Australia and New Zealand. Co. also owns a medical centre and a portfolio of property securities.
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