Folkestone Continues to Grow Rental Income in Benign Operating Environment
Narrow moat-rated Folkestone Education Trust reported underlying earnings of AUD 0.14 per unit for fiscal 2016, in line with our estimate of AUD 0.141 per unit. Underlying earnings were up 5.3%, reflecting a full year’s income from the Folkestone Social Infrastructure Trust transaction (contributing AUD 2.8 million), like-for-like rent increases of 2.8%, a net addition of two centres to the portfolio and higher distributions from equities held in the securities portfolio. Distributions paid for ...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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