Industria REIT

Industria REIT reported 7.9% rise in Funds From Operations in FY 18
Decent Performance in FY 18: Industria REIT’s (ASX: IDR) stock rose 1.52% on August 22, 2018 after the company for FY 18 delivered 7.9% rise in Funds From Operations (FFO) to $30.1 million. IDR is a listed Australian real estate investment trust that owns interests in office and industrial properties, and  provides functional and affordable workspaces for business. IDR has $640 million portfolio of 21 properties located across the major Australian cities. FFO per security for FY 18 rose 2.2%, from 18.1 to 18.5 cents, which is in-line with guidance of 2-3% growth for FY 18. This increase was driven by 3% rental uplifts across 82% of the portfolio and a full period contribution from WesTrac Newcastle, which is partially being offset by downtime at selected assets. However, for 2018, the net profit attributable to security holders fell to $48.2 million from $101.6 million in the prior corresponding period primarily due to statutory items including higher valuation outcomes in the prior period. Additionally, for FY 19, IDR expects FFO per security to be in the range of 18.95 to 19.15 cents, representing 2.5-3.5% growth over FY18. Distributions are projected to increase 3% to 17.0 cents per security. Meanwhile, IDR stock has risen 3.54% in three months as on August 21, 2018  and is trading at a P/E of 3.83x. The stock is already at a higher level and looks “Expensive” at the current price of $ 2.670.
 

Nearmap Ltd.

Nearmap Ltd. reported 41% growth in Group annualized contracted value
Strong FY 18 Performance: Nearmap Ltd.’s (ASX: NEA) stock surged 7.3% on August 22, 2018 after the company for FY 18 reported 41% growth in Group annualized contracted value to $66.2 million. The US comprises more than 25% of the portfolio. The company’s revenue grew 32% to $53.5 million in 2018 and the group revenue per subscription rose 25% to $7,473. The group reported no debt while dividends were also not declared. The group benefitted from a diverse set of client base with growth noted in Australian and US markets. Additionally, for FY 19, the company expects the cash flow to break even. NEA stock has risen 68.45% in three months as on August 21, 2018. We maintain a “Hold” on the stock at the current price of $ 1.690.
 

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