Research

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Spear REIT: FY23 pre-close update

Key message: 2H FY23 performance is set to meet expectations and guidance. Overall, organic performance appears intact and the portfolio continues to reposition through investment and disposal activity.     Trading in line with expectations: management has maintained...

NEPI Rockcastle: FY22 results and valuation update

Key message: NEPI Rockcastle’s FY22 results were excellent, with strong core operating performance from tenants as COVID restrictions were fully lifted and a resilient balance sheet that should underpin future inorganic growth. In our view, the strong run in the share...