Morningstar | Good Times Roll for Growthpoint But Little Value at Current Levels
Growthpoint Properties is an Australian REIT investing in industrial and office property. Compared with other Australian REITs, the stock is high-yielding, but this largely reflects elevated gearing, weighting to higher-yielding suburban assets, and cyclically low borrowing costs. Portfolio metrics remain very good, with high occupancy and a relatively long weighted average lease expiry. Distributions are above operating earnings, with the shortfall funded by ongoing operation of the dividend reinvestment plan.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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