Goodman Supercharges Development as Vacancy Falls and Rents Jump. FVE Unchanged at NZD 1.45
Goodman Property Trust’s first-half fiscal 2019 result was broadly in line with expectations. Cash earnings were NZD 3.61 cents per unit, or cpu, and NZD 3.21 incorporating the manager's base fee. Fiscal 2019 guidance was reaffirmed to be around NZD 7.0 cpu (before manager base fee) and our forecasts remain just above guidance at NZD 7.1 cpu. Fiscal 2019 distribution guidance of NZD 6.65 cpu was also reiterated. We marginally upgrade our medium-term rent growth assumptions and raise expectations...Goodman Property Trust is engaged in investment in real estate in New Zealand.
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