Sales Hold Up for Scentre But Don’t Expect Stellar Rent Growth
With only two months left before year-end, Scentre Group reiterated 2016 guidance for funds from operations (FFO) of AUD 23.25 cents per security (cps) and distributions of AUD 21.3 cps. Our 2016 forecasts are consistent with guidance (rent growth of 2.7% to 3.0%). We believe weaker Australian micro-economic factors will make it difficult for the firm to achieve rent growth over 3% over the long-term.First, even though Scentre reported respectable 3.4% growth in specialty moving annual turnover...
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.
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.
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