SCA Property Keeps Mum on the Sales Front. FVE Unchanged at AUD 2.14
No-moat-rated SCA Property Group, or SCA, didn’t disclose the sales performance of its portfolio at the recent Annual General Meeting, but it should be similar to major peers. On this basis, we expect moderating sales growth for supermarket and specialty tenancies, which will limit the rate at which SCA can raise rents. Though rents will still grow, underpinned by contracted rental escalations and modest sales growth. All considered, SCA screens as overvalued, currently trading 10% above our unc...Shopping Centres Australasia Property Group is an internally managed real estate investment trust. Co. is comprised of Shopping Centres Australasia Property Group Re Limited, the responsible entity to the Shopping Centres Australasia Property Management Trust and Shopping Centres Australasia Property Retail Trust. The units of each Trust are stapled together to form a stapled listed vehicle. Co. owns and manages a portfolio of sub-regional and neighbourhood shopping centres and freestanding retail assets. Co.'s portfolio is focused on convenience retailing. As of June 30 2016, Co. had a total of 83 operating properties, including 69 in Australia and 14 in New Zealand.
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