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Growthpoint Upgrade Forecast

Growthpoint Properties advised this week that FFO per stapled security guidance for FY19 has been upgraded and is now expected to be at least 25.0 cents per stapled security (up from at least 24.8 cents per stapled security).

Based on the declared FY19 distribution of 23.0 cents per stapled security, this equates to a maximum payout ratio to FFO per stapled security of 92.0%.

Growthpoints' May update to investors indicated that the sale of assets and the refinancing of debt were contribuutors to the improved earnings outlook in FY19. The Groups annual report will be issued on the 22nd August.