Operating Profitability & Cash GenerationSustained high operating margins and a FY2025 free cash flow that covered net income indicate durable cash generation capacity. Over a 2–6 month horizon this supports dividend coverage, reduces reliance on equity raises, and strengthens the firm's ability to fund maintenance and selective growth.
Moderate Leverage / Stable Balance SheetModerate, steady leverage for a REIT profile provides financial flexibility to withstand market cycles. This capital structure supports refinancing capacity, preserves covenant headroom, and reduces default risk, helping sustain distributions and execute asset management over the medium term.
Refinancing And Asset Management ActionsSecuring long-term financing and completing premium asset disposals materially reduce refinancing risk and leverage. These structural actions improve liquidity, reinforce NAV per share, and signal disciplined capital allocation and management focus on sustaining income for shareholders.