In an updated guidance, GPT Group edged up its estimate for its funds from operations, or FFO, per security for full year 2017, predicting an increase of 3%, up from a previous guidance of about 2%.
According to an earlier update, GPT's FFO for full year 2016 was 29.88 cents per security in 2016. The company's FFO amounted to A$279.8 million for the six months ended June 30, leading to a 3.5% year-over-year growth in its FFO per security, which weighed in at 15.54 cents.
GPT also expects its distribution per security to rise by approximately 5% during the full year, following a 7% year-over-year jump in the six months to June 30.
As of Aug. 14, US$1 was equivalent to A$1.27.