In FY25, Regional REIT (RGL) made good progress in repositioning its portfolio to unlock value. In this report we focus on the significant medium-term potential that this offers, beyond the immediate uncertainties created by war in the Middle East and an otherwise tough letting market. Previously announced unexpected lease breaks will continue to affect income in the current year, weighing on the positive impacts of the revised management fee and lower debt and finance costs, but the previously announced FY26 DPS target has been reaffirmed.
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