Sales Slow But Rents Continue to Rise. Following Property Rout Westfield Is Looking More Attractive
Westfield Corporation’s third-quarter 2017 trading update made for dour reading due to deteriorating sales performance. Specialty sales are slowing and at an accelerating rate, with flagship 12-month specialty sales up 3.3% to September from 8.2% a year prior. Regionals were similarly impacted, with 12-month specialty sales declining 0.9% as compared with 4.6% growth in the prior year. Despite the softer outlook, our forecasts and AUD 10.10 fair value estimate are both unchanged, with narrow moa...Westfield is engaged in the ownership, development, design, construction, asset management, leasing and marketing activities with respect to its U.S. and U.K. portfolio. Co.'s operational segment comprises the property investment and the property and project management segments. Property investments segment includes activities related to existing shopping centres and completed developments. Property and project management segment includes property management and development for third parties.
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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