Fixed Rental Escalators Provide Earnings Momentum for Growthpoint. FVE Unchanged at AUD 3.20
Growthpoint Properties' fiscal 2018 earnings on a funds from operations, or FFO, basis of AUD 24.9 cents per security, or cps, were down 2% on the prior year. The fixed average rental escalator applying to approximately 90% of the portfolio continue to provide earning momentum, with weighted average rent reviews resulting in an increase of 3.3%. We forecast fiscal 2019 FFO of AUD 25.2 cps, up 1.5%. This is comfortably above Growthpoint's guidance (that has historically been conservative) of "at ...Growthpoint Properties Australia is engaged in property investments, focusing on Australian property in the industrial, office and retail sectors. As of June 30 2016, Co.'s industrial portfolio had 38 properties with a total lettable area of 874,156 square meters and Co.'s office portfolio had 20 properties with a total lettable area of 235,389 square meters.
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