BUZZ-Citi upbeat on Australia's Abacus Group on stable portfolio

Reuters
2024-11-22
BUZZ-Citi upbeat on Australia's <a href="https://laohu8.com/S/ABG.AU">Abacus Group</a> on stable portfolio

** Citi says real estate investment trust manager Abacus Group ABG.AX trading update was resilient, with largely stable portfolio occupancy and positive leasing spreads

** Brokerage says firm's retail performance reflects the strong momentum observed across the rest of retail real estate sub-sector

** Citi maintains "buy" rating for stock at a PT of A$1.35

** ABG reported a rise in debt level to 33.8% from 32.3% in FY24, while maintaining its FY25 distribution guidance at 8.5 Australian cents per share

** Stock gains 2.6% YTD as of the last close

(Reporting by Kumar Tanishk in Bengaluru)

((Tanishk.Kumar@thomsonreuters.com;))

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