Growthpoint Upgrades Earnings After Buying Perth Warehouses. FVE Unchanged at AUD 3.00
The use of low cost debt to purchase four warehouses for AUD 46 million near Perth Airport yielding 8.13% is a major factor behind Growthpoint’s upgraded fiscal 2018 earnings guidance. Growthpoint also cited favourable leasing outcomes during the first quarter as boosting its earnings outlook. All up, guided fiscal 2018 funds from operations, or FFO, guidance has been raised by 3% to at least AUD 24.3 cents per security, or cps, from at least 23.6 cps. Our forecasts were ahead of original guidan...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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