Morningstar backs Australia's Cromwell, says office REIT better shape than smaller peers
02/07/2026 20:51
BUZZ-Morningstar backs Australia's Cromwell, says office REIT better shape than smaller peers ** Morningstar says Cromwell Property CMW.AX is in better shape than most other small office REITs despite interest-rate headwinds and investor caution toward offices
** Notes that co's office portfolio generates most earnings and has maintained occupancy in the mid- to high-90s in recent years
** Morningstar keeps its fair value estimate at A$0.55 per security vs the last close of A$0.42 and views the securities as attractive
** Adds, co's investment venture with PAG "a small win" as it keeps a high-grade Brisbane office asset on funds management platform
** Stock down 8.7% YTD
(Reporting by Kumar Tanishk in Bengaluru)
((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk http://www.x.com/thatstanishk;))
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