BUZZ-Aussie property firms results slightly ahead of estimates, Jefferies says

Reuters03-04

** 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;))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment