Investa's Earnings to Dip as Assets Emptied for Redevelopment. FVE Unchanged at AUD 5.15
Narrow-moat-rated Investa Office Fund reported fiscal 2018 funds from operations, or FFO, of AUD 30.6 cents per security, or cps, up 3% on the prior year. The result was in line with expectations, but guidance is soft. The emptying of two Sydney offices for major redevelopment works plus the sale of a Perth office are the main reason for guided fiscal 2019 FFO to decline 4.4% to AUD 29.2 cps. Forecast revisions have no impact on our fair value estimate, which is temporarily anchored to AUD 5.15 ...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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