Generation Healthcare REIT
Generation Healthcare grew underlying net operating income 66% on the prior year, to deliver a profit of $17.2mill. Full year contributions from the Spring Hill acquisition, further investment in Epworth Freemasons Clarendon Street, completion of Casey Specialist Centre, and underlying rental growth within the portfolio drove the increased profit.
Like-for-like rental growth was 3.3%. With additional securities on issue, the FY15 distribution was 7.25% higher than in FY14.
Generation is forecasting net operating income for FY16 of 9.90cps, and a distribution of 8.84cps (an increase of 3% on FY15).