Growthpoint Properties (ASX: GOZ) expects its FFO to exceed guidance in FY24.

Tue 17 Oct 23, 12:33 PM | Team Kalkine

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Highlights

Growthpoint Properties Australia (ASX: GOZ) is a real estate investment trust (REIT) firm which invests in office and industrial properties across Australia. As of 30 June 2023, the total fund under management (FUM) of GOZ stood at AUD 1.8 billion. Further, AUD 1.9 billion was added to FUM as of September 2023 with the integration of the Fortius Funds Management.

In the financial year 2023, the company reported a 6.7% increase in net property income to AUD 264.3 million and a 1.2% increase in the distribution to shareholders to AUD 162.6 million. During the reported period, the company maintained a portfolio WALE of 6 years and a weighted average capitalization rate of 5.6%.

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