Trading Tidbits: TAH, PWR, SEK, SGP
A further flurry of earnings reports released Tuesday, including from wagering group Tabcorp Holdings, car dealer Peter Warren, online jobs market Seek and property giant Stockland.
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Stockland
Stockland is one of the largest diversified property groups in Australia – owning, developing and managing a large portfolio of retail town centres, workplace and logistics assets, residential communities and retirement living villages. Founded in 1952, today Stockland leverages its diversified model to help create sustainable communities where people live, shop and work.
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News
Market Morsels: CGF, SGP
Forecast updates from both Challenger and Stockland during Thursday's ASX trading session, with both reinstating previous guidance and offering positive profiles moving forward.
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Bourse Discourse: SCG, SGP, WTC
Wednesday was a typically busy day on the ASX, and here's the latest news from property heavyweights Scentre Group and Stockland, along with logistics software company WiseTech.
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Stockland, Dexus Ready to Build on Solid First Half
More signs of recovery in the property sector from sector leaders Stockland and Dexus, with both companies confirming previous guidance on earnings and dividend payouts.
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Stockland Reaffirms Payout Guidance
Property developer and mall owner Stockland will meet guidance for the June half with a payout of 13.2 cents a security.
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Analyst Views
SGP – Credit Suisse rates the stock as Outperform
Rating is upgraded to Outperform from Neutral and the target reduced to $4.56 from $4.66..
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SGP – UBS rates the stock as Buy
FY21 results were in line with UBS estimates. The broker believes the potential for a multiple re-rating from the well-articulated strategy is not in captured in the share price. Buy rating and $ 5 target unchanged.
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SGP – UBS rates the stock as Downgrade to Neutral
UBS assesses Stockland has benefited significantly from government policy aimed at strengthening the new residential sector as well is a structural shift from urban centres caused by the pandemic. The broker downgrades to Neutral from Buy. Target is steady at $4.50.
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SGP – UBS rates the stock as Neutral
CEO Mark Steinert will retire and a flexible transition period has been agreed in order to smooth the handover in the context of the recovery from the pandemic.
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