
APN Convenience Retail REIT is pleased to announce its results for the year ended 30 June 2020
Key highlights
- Funds From Operations (FFO) of $19.3 million or 21.6 cps, up 13.3% and 0.4% on FY2019 respectively1
- Net Tangible Assets (NTA) per security up 31 cents to $3.27, a 10.5% increase on June 2019
- $90 million of acquisitions taking the total portfolio value to $448 million, increasing to $509 million after taking into account contracted acquisitions and remaining development projects
- $101.6 million of new equity raised, providing significant investment capacity
- Balance sheet gearing of 16.5%, and pro forma gearing adjusted for contracted acquisitions and fund-through developments of 24.8%, at the bottom of the 25% – 40% target range
- Debt facility increased by $40 million and refinanced a further $105 million, extending the weighted average debt maturity by 2.2 years
- Total FY2020 distributions of 21.8 cps (up 4.3%)
- FY2021 FFO and distribution guidance of 21.8 – 22.0 cps
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