Citi upbeat on Australia's Abacus Group on stable portfolio

Abacus

21/11/2024 23:32

** Citi says real estate investment trust manager Abacus 
Group  ABG.AX  trading update was resilient, with largely stable
portfolio occupancy and positive leasing spreads
    ** Brokerage says firm's retail performance reflects the
strong momentum observed across the rest of retail real estate
sub-sector
    ** Citi maintains "buy" rating for stock at a PT of A$1.35
    ** ABG reported a rise in debt level to 33.8% from 32.3% in
FY24, while maintaining its FY25 distribution guidance at 8.5
Australian cents per share
    ** Stock gains 2.6% YTD as of the last close

 (Reporting by Kumar Tanishk in Bengaluru)
 ((Tanishk.Kumar@thomsonreuters.com;))