Australia's Rural Funds at record high as co acquires agri-property contracts
08/11/2021 03:47
** Shares of Rural Funds Group RFF.AX rise as much as 3.6%
to an all-time high of A$2.920
** Th real estate investment trust says it exchanged
contracts for cattle, cropping and macadamia acquisitions
urn:newsml:reuters.com:*:nFWN2RX0EN
** Says cattle and cropping properties include water
entitlements, of which surplus will be utilised to improve
productivity of properties
** Also acquires two macadamia orchards of a total 475
hectares in Queensland for A$63.1 mln ($46.68 mln), to be
settled in Dec 2021
** Stock marks biggest intraday pct gain since Oct 19
** Around 460,000 shares traded vs their 30-day moving
average of ~430,300 shares
** As of last close, stock up 10% so far this year vs a
13.3% increase in the ASX All Ordinaries Index .AORD
($1 = 1.3517 Australian dollars)
(Reporting by Roushni Nair in Bengluru)
((Roushni.Nair@thomsonreuters.com;))