** Analysts at Jefferies say Australian real estate firms' results in the February reporting season were slightly ahead of expectations
** Brokerage says results announcements saw major property developers either maintaining or tightening estimates
** Adds Aussie REITs focussed and will continue to focus on tight cost control in a bid to lower corporate and divisional expenses
** Retail demand from tenants remain strong due to lack of space and developments with department stores downsizing, allowing firms like Scentre Group and Vicinity Centres
to repurpose space to higher paying tenants - Jefferies
** Sees Increased focus on development over acquisitions for firms such as Region Re , Centuria Industrial CIP, Mirvac and Stockland Corp as acquisitions don’t stack up given cap rate & debt spread
(Reporting by Rishav Chatterjee in Bengaluru)
((Rishav.Chatterjee@thomsonreuters.com;))
Comments