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Abacus Property Group - Stock Quote ABP

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Morningstar's Abacus Property Group Stock Analysis

Valuation
Currency in AUD
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1-Star Price

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5-Star Price

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Economic Moat

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Capital Allocation

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Corporate Action: Do Not Subscribe to Abacus Property Group Share Purchase Plan

Alexander Prineas Equity Analyst

Analyst Note

| Alexander Prineas |

No-moat Abacus raised AUD 200 million of equity this week, via the issue of 59.2 million new stapled securities to institutional investors, at an offer price of AUD 3.38 per share. The capital raising will be extended to existing retail investors via a security purchase plan, or SPP, enabling the purchase of up to AUD 30,000 Abacus securities at the same price. Abacus can scale back SPP applications should demand exceed AUD 15 million. Further details on the SPP will be provided on or around March 24, 2022.

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Abacus Property Group's Company Profile

Business Description

Abacus Property Group is a diversified property group, with interests ranging from storage, office, retail, property lending, and residential development. However, Abacus is striving for a simpler and more conservative business, primarily as an owner of self-storage and office assets. It remains an active acquirer and developer of self-storage assets. Abacus is a stapled security comprising a share in each of Abacus Group Holdings and Abacus Group Projects and a unit in each of Abacus Trust and Abacus Income Trust, which can only be traded together.

Contact
264-278 George Street, Level 34, Australia Square
Sydney, NSW, 2000, Australia
T +61 292538600
Sector Real Estate
Industry REIT - Diversified
Most Recent Earnings
Fiscal Year End Jun 30, 2022
Stock Type
Employees 51