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Advance Terrafund’s portfolio shrinks by 131 daa in Jun’19 (NEUTRAL)

Advance Terrafund REIT bought 695 daa of land at an average price of BGN 1 067/daa in Jun’19 and sold 343 daa at an average price of BGN 1 650/daa. Another 483 daa paid in advance also exited the fund, which netted a 131 daa MoM decrease in its portfolio. The latter reached 230 173 daa agricultural and 133 daa urban land. The expected revenue for the 2018-2019 agricultural year stood at BGN 6 474k and remained flat MoM. Currently, the fund has rented out 168 752 daa (flat MoM), or 84.5% of its rentable portfolio, at an average rate of BGN 38.36/daa (-1.4% YoY).

Source: Advance Terrafund REIT; FFBH

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