ABACUS PROPERTY GROUP (ABP)
Share Price Analysis and Chart

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ABP - ABACUS PROPERTY GROUP

FNArena Sector : REITs
Year End: June
GICS Industry Group : Real Estate
Index: ASX200 | ASX300 | ALL-ORDS

Abacus Property Group is a diversified Australian Real Estate Investment Trust with a portfolio concentrated in the office and self-storage sectors. Formed in 1996 it listed in 2002.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$2.74

05 Dec
2022

0.000

OPEN

$2.74

0.000

HIGH

$2.76

640,661

LOW

$2.72

TARGET
$2.973 8.5% upside
Franking for last dividend paid out: 0%
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FNARENA'S MARKET CONSENSUS FORECASTS
ABP: 1
Title FY21
Actual
FY22
Actual
FY23
Forecast
FY24
Forecast
EPS (cps) xxx 61.1 18.5 xxx
DPS (cps) xxx 18.5 18.3 xxx
EPS Growth xxx 22.6% - 69.7% xxx
DPS Growth xxx 8.8% - 1.1% xxx
PE Ratio xxx N/A 14.8 xxx
Dividend Yield xxx N/A 6.7% xxx
Div Pay Ratio(%) xxx 30.3% 98.9% xxx

Dividend yield today if purchased 3 years ago: 4.92%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

6.75

Estimated Dividend Growth
(Average Of Past Three Years)

 %

Amount Invested

Tell Me The Dividend After This Many Years

Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages

Last ex-div: 30/12 - ex-div 8.75c (franking 0%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2022 FactSet UK Limited. All rights reserved
Title 201720182019202020212022
EPS Basic xxxxxxxxxxxxxxx61.1
DPS All xxxxxxxxxxxxxxx18.5
Sales/Revenue xxxxxxxxxxxxxxx330.9 M
Book Value Per Share xxxxxxxxxxxxxxx392.3
Net Operating Cash Flow xxxxxxxxxxxxxxx158.3 M
Net Profit Margin xxxxxxxxxxxxxxx156.29 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201720182019202020212022
Return on Capital Employed xxxxxxxxxxxxxxx16.15 %
Return on Invested Capital xxxxxxxxxxxxxxx11.37 %
Return on Assets xxxxxxxxxxxxxxx10.92 %
Return on Equity xxxxxxxxxxxxxxx16.15 %
Return on Total Capital xxxxxxxxxxxxxxx5.23 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx51.7 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

This is work in progress. Bear with us. It'll be amazing.

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

0.4

No. Of Recommendations

4
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Ord Minnett

xx/xx/xxxx

2

xxxxxxx xx xxxxxxxxxx xxxx xxxx

$xx.xx

xx.xx%

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Macquarie

xx/xx/xxxx

3

xxxxxxxxx xx xxxxxxx xxxx xxxxxxxxxx

$xx.xx

xx.xx%

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Credit Suisse

18/08/2022

3

Neutral

$3.05

11.31%

Credit Suisse has revisited its Abacus Property result because of "erroneous commentary over ABP's guidance outlook" in its previous update with changes to the target price and earnings. The previous summary is as follows:

"Credit Suisse has adjusted estimates for Australian real estate investment trusts (A-REITs) to account for rising costs and interest rates, noting while it cannot be certain where rates will settle it has assumed a 1.5% increase to costs of debt exposure in FY23. 

The broker highlighted those companies with lower gearing and higher hedging were better insulated from the impacts of rising rates. For Abacus Property. The broker downgrades earnings forecasts - 2.8% and -6.0% for FY23 and FY24 respectively."

The result fell shy of consensus and Credit Suisse forecasts, with storage earnings growth the highlight. Net interest expense rose on higher borrowings. Debt costs are expected to continue rising along with interest rates as FY23 hedges end and limit upside. The broker expects commercial and storage portfolio income should rise as developments are completed and acquisitions flow through. 

After the revisit: FY23 FFOps rise 2.7% and FY24 FFOps fall -07%.

Neutral rating is retained and the target price decreases to $3.05 from $3.20 (previously $3.51).

FORECAST
Credit Suisse forecasts a full year FY23 dividend of 18.00 cents and EPS of 19.00 cents.
Credit Suisse forecasts a full year FY24 dividend of 18.00 cents and EPS of 19.00 cents.

Citi

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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ABP STOCK CHART