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Aventus share price rises on FY20 guidance

Motley Fool Staff
growth shares

The Aventus Group (ASX: AVN) share price rose 1% after the real estate business held its annual general meeting (AGM) and provided FY20 guidance.

In FY19 the business achieved like for like net operating income growth of 3.5%, grew the distribution by 1.8% to 16.3 cents and the net asset value (NAV) rose by 1.7% to $2.42.

It continues to focus on its four key growth strategies of organic growth, acquisitions, developments and capital management to achieve sustainable earnings growth and long-term value growth.

In FY20 Aventus is guiding that funds from operations (FFO) per security – the net cash rental profit per share – will grow by 3% to 4% to 19 cents to 19.2 cents.

The distribution per share is expected to increase by 3% to 17.1 cents per security, up from 16.6 cents in FY19.

That puts the current share price of $2.77 on a forward distribution yield for FY20 of 6.2% based on today’s guidance.

The post Aventus share price rises on FY20 guidance appeared first on Motley Fool Australia.

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The Motley Fool Australia has recommended AVENTUS RE UNIT. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The Motley Fool's purpose is to help the world invest, better. Click here now for your free subscription to Take Stock, The Motley Fool's free investing newsletter. Packed with stock ideas and investing advice, it is essential reading for anyone looking to build and grow their wealth in the years ahead. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson. 2019