Abacus Group Stapled (Unit, Ordinary Share) - New

ABG: XASX (AUS)
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Abacus Group Earnings: Under Review To Take a Deeper Dive After Storage Separation

We place our fair value estimate for Abacus Group under review following its fiscal 2023 result. We plan to perform a more detailed assessment of the group now that it has completed the separation of Abacus Storage King into a listed REIT. Abacus Group delivered funds from operations of AUD 19.8 cents per security. Distributions for the fiscal year totalled AUD 18.4 cps, up 2.2%. The REIT faces some short-term headwinds, but long-term fundamentals look reasonable.

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