REA Group’s Economic Moat Provides Shelter from Australian Real Estate Storm. FVE Lifted to AUD 62
Narrow-moat-rated REA Group continues to defy the worst Australian real estate downturn in decades, with its 19% increase in first-half EBITDA slightly exceeding our expectations. We have increased our fair value estimate by 5% to AUD 62.00 per share, reflecting higher earnings forecasts and the time value of money impact on our financial model. At the market price of AUD 74.18, we continue to believe the stock is overvalued. The market price implies a dividend yield of 1.9%, or 2.3% including f...REA Group is a multinational digital advertising company, based in Australia, that specializes in property. Co. provides a range of premium property listings as well as products for markets adjacent to property such as utility connections, and advertising solutions for property developers and display media advertisers. Co. operates residential, commercial and share property websites, realestate.com.au, realcommercial.com.au and flatmates.com.au, Chinese property site myfun.com, and iProperty Group which owns a number of property portals in Asia. Co. also maintains significant shareholdings in Move, Inc. in the United States and PropTiger in India.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.