ADI – Morgans rates the stock as Hold

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The company has announced the acquisition of four industrial assets located east of the Melbourne CBD. The assets bolster the industrial weighting of the fund and, Morgans observes, provide value-adding opportunities down the track.

The distribution guidance for FY19 is unchanged at $0.17 per security. Morgans maintains a Hold rating and raises the target to $2.79 from $2.76.

Sector: Real Estate.

Target price is $2.79.Current Price is $2.75. Difference: $0.04 – (brackets indicate current price is over target). If ADI meets the Morgans target it will return approximately 1% (excluding dividends, fees and charges – negative figures indicate an expected loss).

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