ARN has disclosed its fiscal year-end financial statement

Arena REIT (ASX: ARN) has introduced its fiscal year-ending financial report, encompassing June 30, 2023. The increase in net operating profit can be attributed to rises in contracted rentals, acquisitions, and completed developments. Despite an uptick in portfolio capitalization rate, the net asset value (NAV) per security remains steady due to augmented passing and market rents. The company has divested two healthcare properties, acquired two operational Early Learning Centers (ELCs), and expanded its development pipeline.

Additionally, ten ELC development projects have been accomplished. Arena's asset emission intensity has reduced by 14%, with 83% of the property portfolio equipped with solar renewable energy. The issuance of an AU$500 million Sustainability Linked Loan (SLL) over an existing debt facility is noteworthy. The guidance for FY24 distribution stands at 17.4 cents per security (cps), marking a 3.6% increase from FY23 DPS. Two healthcare properties were sold at an average premium of 2.4% over the June 30, 2022 book value. Based on income, the long-term WALE remains at 19.3 years, with a portfolio-weighted average passing yield of 5.16%.

Customer Notice:

Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.

Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com