Earnings woes expected to continue for Australian REITs

07/11/2008 | Sydney Morning Herald (Australia), The

An anticipated round of Australian REIT consolidation may be slow starting, given the current global credit crisis. REIT investors, who have enjoyed returns as high as 20% in recent years, were bracing for a tough round of second-quarter earnings releases. "The 2009 guidance ... will likely disappoint due to poor quality earnings in prior periods, poor operating markets, and/or high gearing; some may be forced sellers," Merrill Lynch said in a report.

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Sydney Morning Herald (Australia), The

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