Last A$3.13 AUD
Change Today +0.06 / 1.95%
Volume 594.6K
As of 12:10 AM 03/2/15 All times are local (Market data is delayed by at least 15 minutes).

abacus property group (ABP) Snapshot

Open
A$3.07
Previous Close
A$3.07
Day High
A$3.14
Day Low
A$3.07
52 Week High
02/13/15 - A$3.35
52 Week Low
03/20/14 - A$2.27
Market Cap
1.6B
Average Volume 10 Days
969.6K
EPS TTM
A$0.25
Shares Outstanding
515.0M
EX-Date
01/15/15
P/E TM
12.6x
Dividend
A$0.17
Dividend Yield
5.43%
Current Stock Chart for ABACUS PROPERTY GROUP (ABP)

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abacus property group (ABP) Details

Abacus Property Group engages in the management and investment of property based assets in Australia. It involves in property investment, funds management, property finance, and projects and investments activities. The company holds a diversified investment portfolio of retail, commercial, industrial properties. In addition, Abacus Property Group develops, originates, and manages off balance sheet funds; engages in mortgage lending and related property financing solutions; and invests in joint venture activities and in securities of other listed and unlisted property trusts. The company is based in Sydney, Australia.

abacus property group (ABP) Top Compensated Officers

Managing Director and Executive Director
Total Annual Compensation: A$2.0M
Chief Financial Officer
Total Annual Compensation: A$600.0K
Chief Operating Officer and Company Secretary
Total Annual Compensation: A$665.0K
Head of Strategy
Total Annual Compensation: A$475.0K
Managing Director of Abacus Property Services
Total Annual Compensation: A$388.6K
Compensation as of Fiscal Year 2014.

abacus property group (ABP) Key Developments

Abacus Property Group Announces Consolidated Financial Results for the Six Months Ended December 31, 2014; Provides Earnings Guidance for the Year of 2015

Abacus Property Group announced consolidated financial results for the six months ended December 31, 2014. For the six months, the company reported revenue of AUD 132.363 million against AUD 193.675 million a year ago. Profit before tax was AUD 63.652 million against AUD 58.842 million a year ago. Loss attributable to the equity holders of the parent entity was AUD 1.991 million or 12.10 cents per diluted share against profit attributable to the equity holders of the parent entity of AUD 8.070 million or 10.13 cents per diluted share a year ago. Net cash flows from operating activities were AUD 35.217 million against AUD 31.016 million a year ago. Purchase of investment properties and capital improvements was AUD 176.647 million against AUD 85.730 million a year ago. Purchase of property, plant and equipment was AUD 1.707 million against AUD 3.191 million a year ago. Underlying profit was AUD 69.1 million, up 50%. Underlying earnings per security was 13.4 cents, up 37%. Cash flow from operations per security was 12.4 cents against 10.0 cents a year ago. Underlying EBITDA was AUD 87.1 million against AUD 75.2 million a year ago. The company announced that the good start to the financial year and indicators point to a positive 2015. The company continues to deliver growth to earnings per security and NTA to security holders. Strong transactional results have contributed to positive outperformance.

Abacus Property Seeks Acquisitions

Abacus Property Group (ASX:ABP) is looking for acquisition opportunities. Frank Wolf, Managing Director of Abacus Property said, "So, you've got to be very mindful we're continually trading off these metrics. Now, what's more important, I think, to focus on is that when we look at acquisitions, we are focused on circa 15% on IRR on equity for self-storage and we've rejected a number of acquisitions, because it doesn't meet that hurdle and we don't mind."

Heavy Bidding for Australian Technology Park

Some of Australia's biggest property companies are vying to buy the AUD 200 million Australian Technology Park including Mirvac Group (ASX:MGR), Lend Lease Group (ASX:LLC) and Abacus Property Group (ASX:ABP). First round expressions of interest were due on January 30, 2015 and The Australian Financial Review revealed last month that Mirvac is one of the groups that would bid for the 14 hectare business park. But Mirvac faces stiff competition. Listed players Abacus and Lend Lease have put in bids. Meanwhile a syndicate including Rebel Property Group Pty Ltd., Macquarie Group Limited (ASX:MQG) and Ashe Morgan Property Services Pty. Ltd. is rumoured to have made a strong offer. Also said to be jockeying for the asset is Altis Property Partners which has backing from a local super fund and is considered a solid contestant. Premier Capital Developments Pty. Ltd. is believed to be in the mix. The group would have an edge given, as with Rebel, it has built some of the ATP. There is also likely to have been some offshore interest, sources said. All parties declined to comment when contacted by The Australian Financial Review. A spokesperson for UrbanGrowth NSW Development Corporation said the government is considering the sale to enable further development of the site and to release the capital locked in the asset. The site was put up for sale late last year as part of the state government's multi-million property divestment plan and includes four existing office buildings, vacant land, commercial spaces and conference facilities.

 

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ABP Competitors

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Company Last Change
Aveo Group A$2.62 AUD +0.02
Charter Hall Group A$5.00 AUD 0.00
Charter Hall Retail REIT A$4.63 AUD +0.07
Cromwell Property Group A$1.17 AUD 0.00
Shopping Centres Australasia Property Group A$2.05 AUD +0.03
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Industry Analysis

ABP

Industry Average

Valuation ABP Industry Range
Price/Earnings 12.4x
Price/Sales 4.5x
Price/Book 1.2x
Price/Cash Flow 12.2x
TEV/Sales 2.2x
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