In today’s briefing:
- Activia Properties (3279) – Short-Term Higher-Impact Buyback on Better Fundamental Results
Activia Properties (3279) – Short-Term Higher-Impact Buyback on Better Fundamental Results
- Activia Properties (3279 JP) announced results Wednesday. Higher DPU on better rental income looks to continue next period, but an asset disposal will produce some drag ahead.
- Activia Properties also announced a buyback of 10% of ADV for the next four months.
- The REIT is slightly cheap to peers. Yield spread to JGBs is high which is good. It needs to be 10% higher to restart accretive equity offerings.
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