{"id":28725,"date":"2023-08-28T02:59:00","date_gmt":"2023-08-28T02:59:00","guid":{"rendered":"https:\/\/ramgroup.com\/?p=28725"},"modified":"2024-07-08T01:11:26","modified_gmt":"2024-07-08T01:11:26","slug":"ram-essential-services-property-fund-asxrep-posts-strong-operational-gains-as-fy22-losses-recede","status":"publish","type":"post","link":"https:\/\/ramgroup.com\/zh-hant\/in-the-media-zh-hant\/ram-essential-services-property-fund-asxrep-posts-strong-operational-gains-as-fy22-losses-recede\/","title":{"rendered":"RAM Essential Services Property Fund (ASX:REP) posts strong operational gains as FY22 losses recede"},"content":{"rendered":"\n<html>\r\n    <style>\r\n.yt-wrapper {\r\n  position: relative;\r\n  padding-top: 56.25%\r\n}\r\n\r\n.yt{\r\n    position: absolute;\r\n    width: 100%;\r\n    height: 100%;\r\n    left: 0;\r\n    top: 0;\r\n}\r\n}\r\n    <\/style>\r\n<div class=\"yt-container\">\r\n<div class=\"yt-wrapper\">\r\n<iframe class=\"yt\"\r\nsrc=\"https:\/\/cdn.jwplayer.com\/previews\/5TKxPvBZ\" title=\"The Watchlist\"\r\nframeborder=\"0\" allow=\"encrypted-media; fullscreen\">\r\n<\/iframe>\r\n<\/div>\r\n<\/div>\r\n<\/html>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>RAM Essential Property REIT (REP) posts its FY23 results, highlighting strong performance despite a challenging macroeconomic environment that resulted in losses<\/li>\n\n\n\n<li>The company reported Funds From Operations (FFO) of $30.6 million, an increase from $21.7 million in June 2022<\/li>\n\n\n\n<li>The FFO metric equals 5.9 cents per security, with 5.7 cents declared for distributions per unit<\/li>\n\n\n\n<li>RAM Essential retains a \u201cbuy\u201d rating from 6 brokers, and zero brokers rate the stock a sell<\/li>\n\n\n\n<li>RAM Essential shares were up 0.7 per cent, trading at 71.5 cents at 3:55 pm AEST<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/themarketherald.com.au\/asx-rep\/\" target=\"_blank\" rel=\"noreferrer noopener\">RAM&nbsp;Essential Services Property Fund (REP)<\/a>&nbsp;has posted its FY23 results, highlighting strong performance despite a challenging macroeconomic environment that resulted in losses.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The company reported Funds From Operations (FFO) of $30.6 million, an increase from $21.7 million in June 2022. The FFO metric equals 5.9 cents per security, with 5.7 cents declared for distributions per unit \u2013 an FFO payout ratio of 97.1 per cent, up from the June 2022 payout ratio of 95.92 per cent.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Net Tangible Assets (NTAs) slightly declined to 97 cents, compared to $1.04 cents in June 2022. This downward revision was driven by the troubled investment property market, which continues to struggle with COVID-era devaluation.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It\u2019s worth noting that some investment bank analysts expect property prices to continue increasing in Australia, and the sector anticipates a return to \u2018normal\u2019 across FY24 and FY25.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The ongoing challenges faced by the REIT sector are evident in RAM\u2019s statutory profit for FY23, which showed a loss of $16.6 million.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Despite this, RAM Essential retains a \u201cbuy\u201d rating from six brokers, with zero brokers rating the stock as a sell.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Looking at the net unrealised gain on the revaluation of investment properties, investors can observe a healing sector.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Investment property revaluation gains for FY23 came in at $35.9 million \u2013 compared to a negative read of minus $52.4 million for FY22. This context helps explain the company\u2019s FY23 loss of $16 million in profits.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">As of the end of June 2023, the company\u2019s investment portfolio consists of 12 retail shopping centres and 23 medical properties valued at a total of $786.5 million.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The portfolio was 97.62 per cent occupied with a weighted average lease expiry time of 6.44 years, slightly down from June 2022 at 6.96 years.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The company has debt facilities of $324.5 million with an average expiry of 2.79 years, and FY23 drawn borrowings totalled $302 million.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/themarketherald.com.au\/asx-rep\/\" target=\"_blank\" rel=\"noreferrer noopener\">RAM Essential (REP)<\/a>\u00a0shares were up 0.7 per cent, trading at 71.5 cents at 3:55 pm AEST.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>RAM&nbsp;Essential Services Property Fund (REP)&nbsp;ha [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":29792,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[9],"tags":[],"post-type":[],"class_list":["post-28725","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-in-the-media-zh-hant"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>RAM Essential Services Property Fund (ASX:REP) posts strong operational gains as FY22 losses recede - RAM Group<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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