Good Times Roll for Growthpoint But Little Value at Current Levels
Growthpoint reported first-half fiscal 2019 earnings on a funds from operations, or FFO, basis of AUD 12.5 cents per security, or cps, unchanged on the previous corresponding period. Guidance was retained for fiscal 2019 FFO of at least AUD 24.8 cps and distributions of AUD 23 cps. Factoring outgoings for tenant incentives and maintenance capital expenditure (that hit the cashflow statement but not the income statement) gives us adjusted funds from operations, or AFFO, a proxy for the underlying...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.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
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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