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What are MM’s thoughts on ABP’s SPP?

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Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.

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    What are MM’s thoughts on ABP’s SPP?

    Hi James and Team, I appreciate that MM prefers NSR in this space but please can you provide your thoughts on ABP's SPP. Thanks, JanP

    Answer

    Hi Jan,

    ABP are raising $215mn at $3.38, a 5.1% discount at the time it was announced to the market, the funds are to restock the real estate group’s war chest for developments, acquisitions etc. We believe this is fair to good buying at current levels with the stock supported by an est. 5.3% yield over the next 12-months.

     

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