FFO of 4.21c giving an FFO PE of 11
Distribution of 3.75c giving a yield of 8.2%
NTA of 96c, well above the current share price of 91c.
Lowish gearing of 34%
Occupancy of 89% (room for improvement there)
The just announced 5% share buyback will increase NTA and support forther share price increases.
All-in-all a solid result by GDI. Of the 40-odd AREITs I analyse this one provides the highest weighted score of the above metrics. I've increased my exposure to GDI over the last two weeks by reducing holdings in IOF and GDI, which were only providing a yield of around 4.5% and had NTAs well above their share price (still good companies though). With this result I may increase me holdings further.
GDI Price at posting:
91.0¢ Sentiment: Buy Disclosure: Held
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