360 Capital REIT ( (AU:TOT) ) has provided an announcement.
360 Capital REIT announced its financial and operational results for the half-year ending December 2024, highlighting a 41.7% increase in operating profit and a strategic reduction in debt and fees. The company has successfully leased all remaining space at one of its properties, improving occupancy and extending lease terms. Despite challenges in leasing a vacant space in Melbourne, the company has strengthened its financial position by extending its debt facility at a lower interest rate and completing its debt reduction program. These moves aim to enhance income stability and investor appeal, as the company trades at a significant discount to its net tangible assets.
More about 360 Capital REIT
360 Capital REIT operates in the real estate investment trust industry, focusing primarily on managing and investing in a diversified portfolio of office, healthcare, and high-tech industrial assets across Australia’s eastern states. The company’s portfolio is characterized by modern facilities with a strong emphasis on sustainability and tenant covenants, aiming to deliver value and stability to its stakeholders.
YTD Price Performance: 1.25%
Average Trading Volume: 78,622
Technical Sentiment Consensus Rating: Strong Buy
Current Market Cap: A$87.66M
For a thorough assessment of TOT stock, go to TipRanks’ Stock Analysis page.