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Convenience Retail REIT boosts FY'18 FFO guidance

Convenience Retail REIT increased its full-year 2018 funds-from-operations guidance to a range of 18.3 Australian cents to 18.6 cents per security from an earlier forecast of 18.2 cents per security, when it launched its IPO.

The company, which owns and leases service station and convenience retail assets, also raised its projected distributions per security to 18.1 cents from an earlier estimate of 17.9 cents. On an annualized basis the distributions equate to 19.7 cents per security.