Unaudited revaluations for June have resulted in a 7.9% increase versus December 2020. Including acquisitions and developments the portfolio has increased by $117m or 22.3% since December 2020. Morgans estimates gearing currently sits at 31%.
Portfolio metrics remain solid with 100% occupancy and a weighted average lease expiry of around 12 years, highlights the broker. The next trading update is expected with the FY result on 17 August. The analyst’s Add rating and $4.15 target are retained.
Sector: Real Estate.
Target price is $4.15.Current Price is $3.74. Difference: $0.41 – (brackets indicate current price is over target). If AQR meets the Morgans target it will return approximately 10% (excluding dividends, fees and charges – negative figures indicate an expected loss).
