As expected by Morgans, Aventus Group announced preliminary unaudited revaluations. After rising by $254m at June 2021, the portfolio is now valued at $2.3bn across 19 assets.
The broker makes minor adjustments to FY21 forecasts to reflect upgraded funds from operations (FFO) guidance of 19.4cps. The upgrade was considered driven by a mix of portfolio performance and lower debt costs.
The analyst expects the next trading update at the FY21 results in August. The Add rating is maintained and the target is increased to $3.26 from $3.12.
Sector: Real Estate.
Target price is $3.26.Current Price is $3.14. Difference: $0.12 – (brackets indicate current price is over target). If AVN meets the Morgans target it will return approximately 4% (excluding dividends, fees and charges – negative figures indicate an expected loss).
