Investa Office Fund: Positive Momentum in Sydney Continues, but Income Growth Rate Slowing Down
Narrow moat-rated Investa Office Fund reported funds from operations, or FFO, of AUD 0.286 per unit, increasing 3.4% year on year. The result was slightly ahead of guidance and our estimate of AUD 0.284 per unit. Distribution per unit is AUD 0.196 for fiscal 2016, in line with guidance. Investa guided to FFO of AUD 0.292 and a distribution of AUD 0.20 in fiscal 2017, representing a growth rate of 2.1% and 2.0%, respectively.Net property income, or NPI, was up 7.1% to AUD 200.1 million year on y...
Investa Office is a real estate investment trust formed by the stapling of the units in two Australian registered schemes, Armstrong Jones Office Fund and Prime Credit Property Trust. The principal activity of Co. is to own investment grade office buildings, generating rental and other property income. These properties are either owned directly or indirectly through the ownership of interests in unlisted entities.
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