Larger Specialties Continue to Flatter Scentre’s Sales Metrics; FVE Unchanged at AUD 3.85
The sluggish tenant sales across Scentre Group’s portfolio have continued with no sign of a rebound during the September quarter. Guided 2018 earnings on a funds-from-operations basis were reaffirmed to increase by approximately 4% and distributions will be AUD 22.16 cents per security. Our 2018 forecasts align with guidance and our fair value estimate remains at AUD 3.85, marginally below narrow-moat-rated Scentre's current price of AUD 4.00.Even though management has made inroads to replace ...
Scentre Group is engaged in the ownership, development, design, construction, asset management, leasing and marketing activities with respect to its Australian and New Zealand portfolio of retail properties. Co.'s operational segment comprises the property investments and property and project management segments. The property investments segment includes existing shopping centers and completed developments. The property and project management segment includes property management and development. As of Dec 31 2015, Co. had a portfolio of 34 centers in Australia and six centers in New Zealand.
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