The recently completed reporting season for the AREIT sector (half year for most, full year for a few) for the period ending 31 December 2016 has again highlighted how delightfully boring the listed property sector currently is.
For an investor seeking low risk secure income, this is no bad thing. In fact, it’s exactly how we like it. Boring is good, and with the outlook remaining positive, income investors have little to worry about and much to appreciate.
In ‘What to watch this reporting season’ we listed three key property fundamentals – net operating income growth, vacancy rates and net tangible asset (NTA) value growth – against which company results could be scored. The short story is that the sector scored well on all three measures, plus a few more: