Two Directors at Lend Lease Group bought 150,500 shares at between 6.880AUD and 6.895AUD. The significance rating of the trade was 100/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over t...
Summary Stockland Corp Ltd - Company Profile and SWOT Analysis, is a source of comprehensive company data and information. The report covers the company's structure, operation, SWOT analysis, product and service offerings and corporate actions, providing a 360˚ view of the company. Key Highlights Stockland Corp Ltd (Stockland) is a real estate development company. It offers property development, property management, and property investment services for retail, industrial, office and industria...
Summary Apartment Investment and Management Co - Company Profile and SWOT Analysis, is a source of comprehensive company data and information. The report covers the company's structure, operation, SWOT analysis, product and service offerings and corporate actions, providing a 360˚ view of the company. Key Highlights Apartment Investment and Management Co (AIMCO) is a real estate investment trust (REIT). It focuses on acquiring, managing, owning and redeveloping residential apartments. It owns...
Lendlease REIT is looking to raise up to US$244m via a private placement and another US$183m via a preferential offering to part fund its acquisition of JEM shopping. The deal is very well flagged as the acquisition was announced in Feb 2022 and the EGM approval for the same was received earlier this month. In this note, we will run the deal through our ECM framework and talk about the recent updates.
The general evaluation of LENDLEASE GROUP (AU), a company active in the Real Estate Holding & Development industry, has been upgraded by the independent financial analyst theScreener with the addition of a star. Its fundamental valuation now shows 3 out of 4 possible stars while its market behaviour can be considered as moderately risky. theScreener believes that the additional star(s) merits the upgrade of its general evaluation to Slightly Positive. As of the analysis date February 22, 2022, t...
Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
No-moat Lendlease’s AUD 21 billion development agreement with Google in the greater San Francisco area is a positive step. It signals a desire to move past its recent struggles with cost over-runs and timing delays in engineering and construction. The multiyear development includes affordable housing for rent and sale, along with colocated retail and hospitality offerings. At a 15% margin--our assumption for the long-term profitability of Lendlease’s U.S. development pipeline--we estimate th...
No-moat Lendlease’s AUD 21 billion development agreement with Google in the greater San Francisco area is a positive step. It signals a desire to move past its recent struggles with cost over-runs and timing delays in engineering and construction. The multiyear development includes affordable housing for rent and sale, along with colocated retail and hospitality offerings. At a 15% margin--our assumption for the long-term profitability of Lendlease’s U.S. development pipeline--we estimate th...
We reiterate our AUD 15.20 fair value estimate for no-moat Lendlease following transfer of coverage to a new analyst. Shares screen as slightly undervalued. While there remains near-term risk from construction and engineering delays and cost-blowouts, we remain optimistic about the firm’s fund management operations and growth through urban regeneration. We forecast 2% to 3% long-term revenue growth in Lendlease's construction segment (outside of its planned wind-down of the engineering busine...
We reiterate our AUD 15.20 fair value estimate for no-moat Lendlease following transfer of coverage to a new analyst. Shares screen as slightly undervalued. While there remains near-term risk from construction and engineering delays and cost-blowouts, we remain optimistic about the firm’s fund management operations and growth through urban regeneration. We forecast 2% to 3% long-term revenue growth in Lendlease's construction segment (outside of its planned wind-down of the engineering busine...
We reiterate our AUD 15.20 fair value estimate for no-moat Lendlease following transfer of coverage to a new analyst. Shares screen as slightly undervalued. While there remains near-term risk from construction and engineering delays and cost-blowouts, we remain optimistic about the firm’s fund management operations and growth through urban regeneration. We forecast 2% to 3% long-term revenue growth in Lendlease's construction segment (outside of its planned wind-down of the engineering busines...
Lend lease reported first-half fiscal 2019 earnings of AUD 16 million, down from AUD 426 million in the prior corresponding period due to foreshadowed AUD 500 million of anticipated losses on multiple engineering projects. Leading on from this, Lendlease has decided to exit its engineering and services businesses and over the next six months work out the optimal approach to sell or separate engineering from the broader business. This is quite a back flip, as the firm had previously flagged its e...
Lend lease reported first-half fiscal 2019 earnings of AUD 16 million, down from AUD 426 million in the prior corresponding period due to foreshadowed AUD 500 million of anticipated losses on multiple engineering projects. Leading on from this, Lendlease has decided to exit its engineering and services businesses and over the next six months work out the optimal approach to sell or separate engineering from the broader business. This is quite a back flip, as the firm had previously flagged its e...
Lend lease reported first-half fiscal 2019 earnings of AUD 16 million, down from AUD 426 million in the prior corresponding period due to foreshadowed AUD 500 million of anticipated losses on multiple engineering projects. Leading on from this, Lendlease has decided to exit its engineering and services businesses and over the next six months work out the optimal approach to sell or separate engineering from the broader business. This is quite a back flip, as the firm had previously flagged its e...
Downgrades and market weakness. Most sectors fell during the month, but IT and Financials helped limit the rout. Lack of upgrades rather than excessive downgrades was the main problem. Follow Earnings During a Correction. NSR and SFR have seen relatively large increases in short-positioning, while heavily shorted stocks SYR and GXY saw relatively large falls. Labour market, consumer confidence and business confidence indicators all suggest the economy remains solid, despite evidence the ...
We expect 2019 will be challenging. The risks for the domestic economy seem skewed to the downside. An Election Year with a change of Government Likely. Accumulate, but Don’t Over-pay for Defendable Earnings. Private equity bids for NVT and TME have forced us to remove these stocks from the portfolio and we take profit in these names. We think bond yields are past their peak for now and have been gradually building positions in property.
A year ago, Lendlease flagged AUD 200 million of post-tax losses in relation to problems on what is believed to be four Australian engineering projects. These losses have now increased by a further AUD 350 million, pointing to inadequate systems over project management, risk management, and quality control. The additional post-tax losses equate to AUD 0.62 per share and an estimated AUD 0.82 per share on a pretax basis. Adjusting for these and an anticipated pull back in the level of engineering...
A year ago, Lendlease flagged AUD 200 million of post-tax losses in relation to problems on what is believed to be four Australian engineering projects. These losses have now increased by a further AUD 350 million, pointing to inadequate systems over project management, risk management, and quality control. The additional post-tax losses equate to AUD 0.62 per share and an estimated AUD 0.82 per share on a pretax basis. Adjusting for these and an anticipated pull back in the level of engineering...
Lendlease Group reported fiscal 2018 earnings of AUD 792 million, or AUD 137 cents per security, or cps, up 1.3% and marginally above our forecast of AUD 135 cps. The result was messy, with construction EBITDA falling AUD 260 million due to engineering related impairments, but largely offset by significant uplift in noncash revaluations of investments by AUD 228 million to AUD 305 million. We forecast fiscal 2019 earnings grow 2% to AUD 140 cps, with a strong recovery in construction earnings, b...
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