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A-REIT valuation model

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In last weeks post I did point out that some of the capital/shares on issue figures are out of date and I would most likely correct them in the next post. I also include a comment each week that some of the figures change due to share buy back programs and may not be accurate. I'm not sure where you are coming from in respect of Aveo (formerly FKP) and Challenger?

The list was originally an extract from the XPJ Property Sector of the key players (that I monitor). Abacus and Challenger were added as a result of a suggestion from another poster as viable traders. I would have to check but I believe FKP was included in the A-REIT sector. What question in respect of "getting an ETF on the A-REIT index" are you referring to?

Cheers
 
coolcup said:
........The weightings also are on a total market cap basis rather than a free float basis (S&P use free float to calculate the real index weightings). ....Cheers
Click to expand...

I see where you are coming from re Market Cap v's Free Float..


As I have limited means of determining the number of "locked in" shares in the companies making up the XPJ (if any) I'm happy to stick with "full market capitalization". However I will add a footnote to this effect on the weekly post.
 
nulla nulla said:
I'm not sure where you are coming from in respect of Aveo (formerly FKP) and Challenger?
Click to expand...

Those two stocks are not in the official S&P ASX A-REIT 200 index which comprises only 17 stocks (the top 17 on your list). The ETF which tracks the index is available here http://www.spdrs.com.au/etf/fund/fund_detail_SLF.html , and you can see if you download the excel sheet on that page which shows its holdings it only owns 17 stocks of which FKP and CDI are not a part.

That is not to say they are not REITs, they just don't meet the S&P requirements for being in the official index (FKP because it really doesn't have any rental properties anymore so isn't a REIT at all aside from having a stapled security structure and CDI because its free float and liquidity are too low).

nulla nulla said:
What question in respect of "getting an ETF on the A-REIT index" are you referring to?
Click to expand...

I was referring to samgribbles post here: https://www.aussiestockforums.com/forums/showthread.php?t=19776&p=820305&viewfull=1#post820305
where he says:

I am struggling to find a way to trade the XPJ index. Do you know of a CFD provider, or futures provider, that can do this for a retail trader? (I am aware of the small ETF that seeks to track the XPJ, but it is too illiquid with too great a spread)
Click to expand...
 
Re: XPJ A-REIT Sector valuation tables

A-REIT Sector: Weekending Friday 11 April 2014

The A-REIT Sector climbed this week seemingly in defiance of global markets. There appears to have been a "flight to safety" as investors abandoned tech, finance and mining, seeking safer places to invest their funds. I suspect there may also have been an element of "shorters" closing out their positions in the A-REIT sector as share prices started to climb, contributing to further price rises. The big winner in the list (a non XPJ A-REIT Sector share) was Challenger Diversified jumping to $2.74 on the back of a take-over offer from the major shareholder. Westfield Retail Trust could only manage small gains compared to the other A-REIT shares. The proposed restructure still not currying any favor among fund managers.



The A-REIT Table for closing prices for week ending 11 April 2014 follows:

Code Closing Price Capital Earnings $ ROE Dist $ Yield % P/E NTA $ Discount to NTA
ABP 2.400 1,210,806,314 0.1368 5.70% 0.1650 6.88% 17.54 2.32 -3.45%
ALZ 4.230 2,449,104,553 0.3120 7.38% 0.2150 5.08% 13.56 3.57 -18.49%
AOG 2.050 1,025,228,493 0.0087 0.42% 0.0087 0.42% 235.63 3.53 41.93%
BWP 2.420 1,517,741,524 0.2078 8.59% 0.1405 5.81% 11.65 1.93 -25.39%
CDI 2.740 586,636,776 0.1890 6.90% 0.1780 6.50% 14.50 2.74 0.00%
CFX 1.985 5,990,830,858 0.1044 5.26% 0.1360 6.85% 19.01 2.02 1.73%
CHC 4.060 1,412,577,765 0.1829 4.50% 0.2020 4.98% 22.20 2.13 -90.61%
CQR 3.660 1,350,689,145 0.1624 4.44% 0.2680 7.32% 22.54 3.32 -10.24%
CMW 0.970 1,672,956,241 0.0344 3.55% 0.0730 7.53% 28.20 0.70 -38.57%
DXS 1.085 5,836,746,459 0.1091 10.06% 0.0600 5.53% 9.95 1.05 -3.33%
FDC 2.380 3,397,786,925 0.1479 6.21% 0.1410 5.92% 16.09 2.22 -7.21%
GMG 4.880 8,431,107,563 0.0963 1.97% 0.1940 3.98% 50.67 2.69 -81.41%
GPT 3.840 6,472,170,067 0.3345 8.71% 0.1980 5.16% 11.48 3.76 -2.13%
IOF 3.280 2,014,075,662 0.1600 4.88% 0.1775 5.41% 20.50 3.14 -4.46%
MGR 1.745 6,443,028,202 0.0406 2.33% 0.0870 4.99% 42.98 1.62 -7.72%
SCP 1.705 1,105,911,286 0.1220 7.16% 0.1080 6.33% 13.98 1.57 -8.60%
SGP 3.770 8,772,709,171 0.0470 1.25% 0.2400 6.37% 80.21 3.50 -7.71%
WDC 10.570 22,339,714,174 0.6424 6.08% 0.5025 4.75% 16.45 6.99 -51.22%
WRT 3.060 9,116,394,929 0.2670 8.73% 0.1942 6.35% 11.46 3.47 11.82%


The comparison table of this weeks closing prices versus last weeks closing prices follows:

Share Code Closing_Price Closing_Price $_Change %_Change
4-Apr-14 11-Apr-14
Abacus Property ABP 2.330 2.400 0.070 3.00%
Australand_Property ALZ 4.170 4.230 0.060 1.44%
Aveo (FKP Stapled) AOG 2.030 2.050 0.020 0.99%
BWP Trust BWP 2.310 2.420 0.110 4.76%
Challenger Div CDI 2.590 2.740 0.150 5.79%
CFS Retail Trust CFX 1.930 1.985 0.055 2.85%
Charter Hall CHC 4.010 4.060 0.050 1.25%
Charter Hall Retail CQR 3.620 3.660 0.040 1.10%
Cromwell CMW 0.960 0.970 0.010 1.04%
Dexus DXS 1.050 1.085 0.035 3.33%
Federation Centres FDC 2.350 2.380 0.030 1.28%
Goodman Group GMG 4.700 4.880 0.180 3.83%
GPT Group GPT 3.670 3.840 0.170 4.63%
Investa Office IOF 3.210 3.280 0.070 2.18%
Mirvac Group MGR 1.700 1.745 0.045 2.65%
SCA Property Group SCP 1.650 1.705 0.055 3.33%
Stockland Property SGP 3.700 3.770 0.070 1.89%
Westfield WDC 10.420 10.570 0.150 1.44%
Westfield Retail WRT 3.040 3.060 0.020 0.66%


Comments:

1. The figures for SCP (earnings and distributions) are guideline forecasts for the period 2013 - 2014 extracted from the proposal of 5 October 2012 and updated per their release of 13 June 2013.

2. The tables above include the shares making up the XPJ A-REIT Property Sector (plus Aveo Group and Challenger Diversified).

3. Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

4. The "issued shares", contributing to the above tables, have been updated as at 11 April 2014 for the reported Shares on Issue for each company. These figures can change from day to day due to active share buy-back programs and other factors. The Capital figures are "market capital" based on issued shares as distinct from "free float" shares.

Disclaimer: These tables may contain errors and should not be relied upon for investment decisions. As always, do your own research and good luck .
 
A-REIT Sector: Weekending Thursday 17 April 2014

The drop in the A-REIT Sector on Monday didn't surprise me after the spurt in the previous week, however the rebound Tuesday, Wednesday & Friday on the skinniest volumes for a while did surprise me. The "flight to safety", seemingly by retail investors as the volumes were to low for the fund managers, pushed the A-REIT prices back up by Thursdays' close to pretty much where they were the previous week. Westfield and Westfield Retail Trust were popular as well, playing catch-up with the rest of the sector.



The A-REIT Table for closing prices for week ending 17 April 2014 follows:

Code Closing Price Capital Earnings $ ROE Dist $ Yield % P/E NTA $ Discount to NTA
ABP 2.460 1,241,076,472 0.1368 5.56% 0.1650 6.71% 17.98 2.32 -6.03%
ALZ 4.270 2,472,263,935 0.3120 7.31% 0.2150 5.04% 13.69 3.57 -19.61%
AOG 2.010 1,005,224,035 0.0087 0.43% 0.0087 0.43% 231.03 3.53 43.06%
BWP 2.450 1,536,556,502 0.2078 8.48% 0.1405 5.73% 11.79 1.93 -26.94%
CDI 2.740 586,636,776 0.1890 6.90% 0.1780 6.50% 14.50 2.74 0.00%
CFX 1.975 5,960,650,350 0.1044 5.29% 0.1360 6.89% 18.92 2.02 2.23%
CHC 4.100 1,426,494,788 0.1829 4.46% 0.2020 4.93% 22.42 2.13 -92.49%
CQR 3.710 1,369,141,183 0.1624 4.38% 0.2680 7.22% 22.84 3.32 -11.75%
CMW 0.980 1,690,203,213 0.0344 3.51% 0.0730 7.45% 28.49 0.70 -40.00%
DXS 1.105 5,944,336,256 0.1091 9.87% 0.0600 5.43% 10.13 1.05 -5.24%
FDC 2.380 3,397,786,925 0.1479 6.21% 0.1410 5.92% 16.09 2.22 -7.21%
GMG 4.900 8,465,661,282 0.0963 1.97% 0.1940 3.96% 50.88 2.69 -82.16%
GPT 3.830 6,455,315,458 0.3345 8.73% 0.1980 5.17% 11.45 3.76 -1.86%
IOF 3.300 2,026,356,611 0.1600 4.85% 0.1775 5.38% 20.63 3.14 -5.10%
MGR 1.760 6,498,412,399 0.0406 2.31% 0.0870 4.94% 43.35 1.62 -8.64%
SCP 1.735 1,125,370,135 0.1220 7.03% 0.1080 6.22% 14.22 1.57 -10.51%
SGP 3.780 8,795,978,957 0.0470 1.24% 0.2400 6.35% 80.43 3.50 -8.00%
WDC 10.650 22,508,794,319 0.6424 6.03% 0.5025 4.72% 16.58 6.99 -52.36%
WRT 3.130 9,324,939,911 0.2670 8.53% 0.1942 6.20% 11.72 3.47 9.80%


The comparison table of this weeks closing prices versus last weeks closing prices follows:

Share Code Closing_Price Closing_Price $_Change %_Change
11-Apr-14 17-Apr-14
Abacus Property ABP 2.400 2.460 0.060 2.50%
Australand_Property ALZ 4.230 4.270 0.040 0.95%
Aveo (FKP Stapled) AOG 2.050 2.010 -0.040 -1.95%
BWP Trust BWP 2.420 2.450 0.030 1.24%
Challenger Div CDI 2.740 2.740 0.000 0.00%
CFS Retail Trust CFX 1.985 1.975 -0.010 -0.50%
Charter Hall CHC 4.060 4.100 0.040 0.99%
Charter Hall Retail CQR 3.660 3.710 0.050 1.37%
Cromwell CMW 0.970 0.980 0.010 1.03%
Dexus DXS 1.085 1.105 0.020 1.84%
Federation Centres FDC 2.380 2.380 0.000 0.00%
Goodman Group GMG 4.880 4.900 0.020 0.41%
GPT Group GPT 3.840 3.830 -0.010 -0.26%
Investa Office IOF 3.280 3.300 0.020 0.61%
Mirvac Group MGR 1.745 1.760 0.015 0.86%
SCA Property Group SCP 1.705 1.735 0.030 1.76%
Stockland Property SGP 3.770 3.780 0.010 0.27%
Westfield WDC 10.570 10.650 0.080 0.76%
Westfield Retail WRT 3.060 3.130 0.070 2.29%


Comments:

1. The shares listed in the tables above make up the XPJ A-REIT Property Sector (plus Aveo Group and Challenger Diversified).

2. The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 11 April 2014, can change from day to day due to active share buy-back programs and other factors.

3. Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

Disclaimer: These tables may contain errors and should not be relied upon for investment decisions. As always, do your own research and good luck .
 
A-REIT Sector: Weekending Thursday 24 April 2014

The volumes of turnover for the last three (3) trading days were thin, however the A-REIT Sector share prices pushed upwards around 2% on the previous weeks close. Retail traders could be getting in early on the low prices to be well positioned for the normal distribution cycle in June. Hard to work out if this recent Sector lift is a flow on effect from increased confidence in our economy, Fund managers being on extended Easter/Anzac Day holidays or an influx of foreign capital looking to take advantage of our real estate prices. The fun and games between Stockland and Australand reminded everyone that some A-REIT's are looking for growth through mergers and acquisitions (like Dexus & GPT carving up CPA). Some people think Investa Office might be the next target, seeming (to me) to overlook how tightly those shares are held. Still, IOF is trading at a discount to NTA and any take-over would need to be at NTA or higher.

The two year A-REIT Sector chart shows the sector getting above recent resistance levels. Can it keep going or are we due for a retrace?



The A-REIT Table for closing prices for week ending 24 April 2014 follows:

Code Closing Price Capital Earnings $ ROE Dist $ Yield % P/E NTA $ Discount to NTA
ABP 2.430 1,225,941,393 0.1368 5.63% 0.1650 6.79% 17.76 2.32 -4.74%
ALZ 4.260 2,466,474,089 0.3120 7.32% 0.2150 5.05% 13.65 3.57 -19.33%
AOG 2.050 1,025,228,493 0.0087 0.42% 0.0087 0.42% 235.63 3.53 41.93%
BWP 2.500 1,567,914,798 0.2078 8.31% 0.1405 5.62% 12.03 1.93 -29.53%
CDI 2.740 586,636,776 0.1890 6.90% 0.1780 6.50% 14.50 2.74 0.00%
CFX 2.040 6,156,823,652 0.1044 5.12% 0.1360 6.67% 19.54 2.02 -0.99%
CHC 4.190 1,457,808,088 0.1829 4.37% 0.2020 4.82% 22.91 2.13 -96.71%
CQR 3.850 1,420,806,888 0.1624 4.22% 0.2680 6.96% 23.71 3.32 -15.96%
CMW 1.000 1,724,697,156 0.0344 3.44% 0.0730 7.30% 29.07 0.70 -42.86%
DXS 1.130 6,078,823,501 0.1091 9.65% 0.0600 5.31% 10.36 1.05 -7.62%
FDC 2.440 3,483,445,419 0.1479 6.06% 0.1410 5.78% 16.50 2.22 -9.91%
GMG 4.980 8,603,876,160 0.0963 1.93% 0.1940 3.90% 51.71 2.69 -85.13%
GPT 3.890 6,556,443,115 0.3345 8.60% 0.1980 5.09% 11.63 3.76 -3.46%
IOF 3.360 2,063,199,459 0.1600 4.76% 0.1775 5.28% 21.00 3.14 -7.01%
MGR 1.750 6,461,489,601 0.0406 2.32% 0.0870 4.97% 43.10 1.62 -8.02%
SCP 1.740 1,128,613,277 0.1220 7.01% 0.1080 6.21% 14.26 1.57 -10.83%
SGP 3.830 8,912,327,885 0.0470 1.23% 0.2400 6.27% 81.49 3.50 -9.43%
WDC 10.770 22,762,414,537 0.6424 5.96% 0.5025 4.67% 16.77 6.99 -54.08%
WRT 3.200 9,533,484,893 0.2670 8.34% 0.1942 6.07% 11.99 3.47 7.78%


The comparison table of this weeks closing prices versus last weeks closing prices follows:

Share Code Closing_Price Closing_Price $_Change %_Change
17-Apr-14 24-Apr-14
Abacus Property ABP 2.460 2.430 -0.030 -1.22%
Australand_Property ALZ 4.270 4.260 -0.010 -0.23%
Aveo (FKP Stapled) AOG 2.010 2.050 0.040 1.99%
BWP Trust BWP 2.450 2.500 0.050 2.04%
Challenger Div CDI 2.740 2.740 0.000 0.00%
CFS Retail Trust CFX 1.975 2.040 0.065 3.29%
Charter Hall CHC 4.100 4.190 0.090 2.20%
Charter Hall Retail CQR 3.710 3.850 0.140 3.77%
Cromwell CMW 0.980 1.000 0.020 2.04%
Dexus DXS 1.105 1.130 0.025 2.26%
Federation Centres FDC 2.380 2.440 0.060 2.52%
Goodman Group GMG 4.900 4.980 0.080 1.63%
GPT Group GPT 3.830 3.890 0.060 1.57%
Investa Office IOF 3.300 3.360 0.060 1.82%
Mirvac Group MGR 1.760 1.750 -0.010 -0.57%
SCA Property Group SCP 1.735 1.740 0.005 0.29%
Stockland Property SGP 3.780 3.830 0.050 1.32%
Westfield WDC 10.650 10.770 0.120 1.13%
Westfield Retail WRT 3.130 3.200 0.070 2.24%


Comments:


1. The shares listed in the tables above make up the XPJ A-REIT Property Sector (plus Aveo Group and Challenger Diversified).

2. The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 11 April 2014, can change from day to day due to active share buy-back programs and other factors.

3. Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

Disclaimer: These tables may contain errors and should not be relied upon for investment decisions. As always, do your own research and good luck .
 
Enjoy these little weekly updates Nulla, they provide a good overview of the sector.

I am not suprised to see the prop-index breaking out above its resistance level as I have seen a couple of individual A-REIT charts do exactly the same -DXS, IOF for example..
 
I also really enjoy reading the weekly sector and stock specific updates. I try and contribute where possible so you feel like someone is taking some interest! Keep up the good work!

nulla nulla said:
IOF is trading at a discount to NTA
Click to expand...

Your table indicates IOF is trading at a 7% premium to NTA no?
 

Yes the table does indicate it is trading at a premium to nta. When I posted the comment above I was thinking I had read an article in the paper where the nta was quoted around $3.46. I will check and get back on it.
 
nulla nulla said:
Yes the table does indicate it is trading at a premium to nta. When I posted the comment above I was thinking I had read an article in the paper where the nta was quoted around $3.46. I will check and get back on it.
Click to expand...

The IOF site shows the IOF nta as $3.23 and Iress shows the IOF nta as $3.24. I will update the tables accordingly and check the rest of the nta figures as well. It would seem IOF is already trading at a premium to nta which doesn't leave much more scope for a takeover premium.
 
A-REIT Sector: Weekending Thursday 24 April 2014 (revised)

Some figures were out of date and have been corrected as at 24 April 2014. IOF is actually trading at a small premium to NTA and, in my opinion, there isn't a lot of scope for a take-over premium. The revised table follows:

Code Closing Price Capital Earnings $ ROE Dist $ Yield % P/E NTA $ Discount to NTA
ABP
2.430 ​
1,225,941,393​
0.1846​
7.60%​
0.1650​
6.79%​
13.16​
2.34​
-3.85%​
ALZ
4.260 ​
2,466,474,089​
0.2340​
5.49%​
0.2150​
5.05%​
18.21​
3.57​
-19.33%​
AOG
2.050 ​
1,025,228,493​
0.0087​
0.42%​
0.0087​
0.42%​
235.63​
2.78​
26.26%​
BWP
2.500 ​
1,567,914,798​
0.2276​
9.10%​
0.1392​
5.57%​
10.98​
2.02​
-23.76%​
CDI
2.740 ​
586,636,776​
0.1607​
5.86%​
0.1840​
6.72%​
17.05​
2.74​
0.00%​
CFX
2.040 ​
6,156,823,652​
0.1255​
6.15%​
0.1360​
6.67%​
16.25​
2.02​
-0.99%​
CHC
4.190 ​
1,457,808,088​
0.1760​
4.20%​
0.2140​
5.11%​
23.81​
2.15​
-94.88%​
CQR
3.850 ​
1,420,806,888​
0.1714​
4.45%​
0.2715​
7.05%​
22.46​
3.36​
-14.58%​
CMW
1.000 ​
1,724,697,156​
0.0614​
6.14%​
0.0750​
7.50%​
16.29​
0.71​
-40.85%​
DXS
1.130 ​
6,078,823,501​
0.1081​
9.57%​
0.0618​
5.47%​
10.45​
1.08​
-4.63%​
FDC
2.440 ​
3,483,445,419​
0.2247​
9.21%​
0.1500​
6.15%​
10.86​
2.30​
-6.09%​
GMG
4.980 ​
8,603,876,160​
0.0939​
1.89%​
0.2005​
4.03%​
53.04​
2.73​
-82.42%​
GPT
3.890 ​
6,556,443,115​
0.3150​
8.10%​
0.2040​
5.24%​
12.35​
3.79​
-2.64%​
IOF
3.360 ​
2,063,199,459​
0.2622​
7.80%​
0.1825​
5.43%​
12.81​
3.23​
-4.02%​
MGR
1.750 ​
6,461,489,601​
0.0914​
5.22%​
0.0890​
5.09%​
19.15​
1.65​
-6.06%​
SCP
1.740 ​
1,128,613,277​
0.1220​
7.01%​
0.1100​
6.32%​
14.26​
1.59​
-9.43%​
SGP
3.830 ​
8,912,327,885​
0.2434​
6.36%​
0.2400​
6.27%​
15.74​
3.52​
-8.81%​
WDC
10.770 ​
22,762,414,537​
0.7413​
6.88%​
0.5100​
4.74%​
14.53​
7.29​
-47.74%​
WRT
3.200 ​
9,533,484,893​
0.2568​
8.03%​
0.1985​
6.20%​
12.46​
3.52​
9.09%​



Comments:


1. The shares listed in the tables above make up the XPJ A-REIT Property Sector (plus Aveo Group and Challenger Diversified).

2. The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 11 April 2014, can change from day to day due to active share buy-back programs and other factors.

3. The "Earnings", "Distribution" and "NTA" figures have been updated as at 24 April 2014. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Discount to NTA" also.

4. Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

Disclaimer: These tables may contain errors and should not be relied upon for investment decisions. As always, do your own research and good luck .
 
A-REIT Sector: Weekending Thursday 02 May 2014

The A-REIT Sector continued to climb for the first three (3) days of this week closing out April at a new recent high. However, after what appears to be a bit of end of month portfolio rebalancing, the sector retraced over the following two (2) days to close out the week slightly below last weeks close. Some trade opportunities on some of the spreads but for me (for the most part) the spreads were too tight and the volumes too low to get a decent position with a reasonable risk return aspect.



The A-REIT Table for closing prices for week ending 02 May 2014 follows:

Code Closing Price Capital Earnings $ ROE Dist $ Yield % P/E NTA $ Discount to NTA
ABP
2.450 ​
1,236,031,446​
0.1846​
7.53%​
0.1650​
6.73%​
13.27​
2.34​
-4.70%​
ALZ
4.300 ​
2,489,633,470​
0.2340​
5.44%​
0.2150​
5.00%​
18.38​
3.57​
-20.45%​
AOG
2.030 ​
1,015,226,264​
0.0087​
0.43%​
0.0087​
0.43%​
233.33​
2.78​
26.98%​
BWP
2.500 ​
1,567,914,798​
0.2276​
9.10%​
0.1392​
5.57%​
10.98​
2.02​
-23.76%​
CDI
2.740 ​
586,636,776​
0.1607​
5.86%​
0.1840​
6.72%​
17.05​
2.74​
0.00%​
CFX
2.030 ​
6,126,643,144​
0.1255​
6.18%​
0.1360​
6.70%​
16.18​
2.02​
-0.50%​
CHC
4.110 ​
1,429,974,043​
0.1760​
4.28%​
0.2140​
5.21%​
23.35​
2.15​
-91.16%​
CQR
3.810 ​
1,406,045,258​
0.1714​
4.50%​
0.2715​
7.13%​
22.23​
3.36​
-13.39%​
CMW
0.970 ​
1,672,956,241​
0.0614​
6.33%​
0.0750​
7.73%​
15.80​
0.71​
-36.62%​
DXS
1.100 ​
5,917,438,806​
0.1081​
9.83%​
0.0618​
5.62%​
10.18​
1.08​
-1.85%​
FDC
2.430 ​
3,469,169,003​
0.2247​
9.25%​
0.1500​
6.17%​
10.81​
2.30​
-5.65%​
GMG
4.930 ​
8,517,491,862​
0.0939​
1.90%​
0.2005​
4.07%​
52.50​
2.73​
-80.59%​
GPT
3.900 ​
6,573,297,725​
0.3150​
8.08%​
0.2040​
5.23%​
12.38​
3.79​
-2.90%​
IOF
3.290 ​
2,020,216,137​
0.2622​
7.97%​
0.1825​
5.55%​
12.55​
3.23​
-1.86%​
MGR
1.750 ​
6,461,489,601​
0.0914​
5.22%​
0.0890​
5.09%​
19.15​
1.65​
-6.06%​
SCP
1.690 ​
1,096,181,861​
0.1220​
7.22%​
0.1100​
6.51%​
13.85​
1.59​
-6.29%​
SGP
3.880 ​
9,028,676,813​
0.2434​
6.27%​
0.2400​
6.19%​
15.94​
3.52​
-10.23%​
WDC
10.730 ​
22,677,874,464​
0.7413​
6.91%​
0.5100​
4.75%​
14.47​
7.29​
-47.19%​
WRT
3.180 ​
9,473,900,612​
0.2568​
8.08%​
0.1985​
6.24%​
12.38​
3.52​
9.66%​


The comparison table of this weeks closing prices versus last weeks closing prices follows:

Share Code Closing_Price Closing_Price Change$ Change%
24-Apr-14 2-May-14
Abacus Property ABP
2.430​
2.450​
0.020​
0.82%​
Australand_Property ALZ
4.260​
4.300​
0.040​
0.94%​
Aveo (FKP Stapled) AOG
2.050​
2.030​
-0.020​
-0.98%​
BWP Trust BWP
2.500​
2.500​
0.000​
0.00%​
Challenger Div CDI
2.740​
2.740​
0.000​
0.00%​
CFS Retail Trust CFX
2.040​
2.030​
-0.010​
-0.49%​
Charter Hall CHC
4.190​
4.110​
-0.080​
-1.91%​
Charter Hall Retail CQR
3.850​
3.810​
-0.040​
-1.04%​
Cromwell CMW
1.000​
0.970​
-0.030​
-3.00%​
Dexus DXS
1.130​
1.100​
-0.030​
-2.65%​
Federation Centres FDC
2.440​
2.430​
-0.010​
-0.41%​
Goodman Group GMG
4.980​
4.930​
-0.050​
-1.00%​
GPT Group GPT
3.890​
3.900​
0.010​
0.26%​
Investa Office IOF
3.360​
3.290​
-0.070​
-2.08%​
Mirvac Group MGR
1.750​
1.750​
0.000​
0.00%​
SCA Property Group SCP
1.740​
1.690​
-0.050​
-2.87%​
Stockland Property SGP
3.830​
3.880​
0.050​
1.31% ​
Westfield WDC
10.770​
10.730​
-0.040​
-0.37%​
Westfield Retail WRT
3.200​
3.180​
-0.020​
-0.63%​


The comparison table of March Month Ending closing prices versus April Month Ending closing prices follows:

Share Code Closing_Price Closing_Price Change$ Change%
28-Mar-14 2-May-14
Abacus Property ABP
2.330​
2.450​
0.120​
5.15%​
Australand_Property ALZ
4.250​
4.300​
0.050​
1.18%​
Aveo (FKP Stapled) AOG
1.995​
2.030​
0.035​
1.75%​
BWP Trust BWP
2.290​
2.500​
0.210​
9.17% ​
Challenger Div CDI
2.570​
2.740​
0.170​
6.61%​
CFS Retail Trust CFX
1.880​
2.030​
0.150​
7.98%​
Charter Hall CHC
3.920​
4.110​
0.190​
4.85%​
Charter Hall Retail CQR
3.560​
3.810​
0.250​
7.02%​
Cromwell CMW
0.955​
0.970​
0.015​
1.57%​
Dexus DXS
1.055​
1.100​
0.045​
4.27%​
Federation Centres FDC
2.330​
2.430​
0.100​
4.29%​
Goodman Group GMG
4.720​
4.930​
0.210​
4.45%​
GPT Group GPT
3.630​
3.900​
0.270​
7.44%​
Investa Office IOF
3.210​
3.290​
0.080​
2.49%​
Mirvac Group MGR
1.670​
1.750​
0.080​
4.79%​
SCA Property Group SCP
1.630​
1.690​
0.060​
3.68%​
Stockland Property SGP
3.700​
3.880​
0.180​
4.86%​
Westfield WDC
10.280​
10.730​
0.450​
4.38%​
Westfield Retail WRT
2.970​
3.180​
0.210​
7.07%​


Not a bad result for Bunnings Property Group holders.

Comments:

1. The shares listed in the tables above make up the XPJ A-REIT Property Sector (plus Aveo Group and Challenger Diversified).

2. The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 11 April 2014, can change from day to day due to active share buy-back programs and other factors.

3. The "Earnings", "Distribution" and "NTA" figures have been updated as at 24 April 2014. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Discount to NTA" also.

4. Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

Disclaimer: These tables may contain errors and should not be relied upon for investment decisions. As always, do your own research and good luck .
 
A-REIT Sector: Weekending Friday 09 May 2014

The A-REIT Sector fell for the first three (3) days of this week but lifted to close out the week pretty much in line with the previous weeks range. Westfields issued a revised offer sweetening the deal for WRT holders by reducing the debt to be transferred into Scentre by $300million. Both WDC and WRT finished the week better dragging the Sector with it. In my opinion the change to the offer is pathetic, with WDC still definitely getting the better end of the deal. For me (for the most part) the spreads across the sector are still too tight and the volumes too low to get a decent position with a reasonable risk return aspect. Watching and waiting.



The A-REIT Table for closing prices for week ending 09 May 2014 follows:

Code Closing Price Capital Earnings $ ROE Dist $ Yield % P/E NTA $ Discount to NTA
ABP
2.590 ​
1,306,661,814​
0.1846​
7.13%​
0.1650​
6.37%​
14.03​
2.34​
-10.68%​
ALZ
4.260 ​
2,466,474,089​
0.2340​
5.49%​
0.2150​
5.05%​
18.21​
3.57​
-19.33%​
AOG
2.060 ​
1,030,229,608​
0.0087​
0.42%​
0.0087​
0.42%​
236.78​
2.78​
25.90%​
BWP
2.560 ​
1,605,544,753​
0.2276​
8.89%​
0.1392​
5.44%​
11.25​
2.02​
-26.73%​
CDI
2.750 ​
588,777,786​
0.1607​
5.84%​
0.1840​
6.69%​
17.11​
2.74​
-0.36%​
CFX
2.050 ​
6,187,004,161​
0.1255​
6.12%​
0.1360​
6.63%​
16.33​
2.02​
-1.49%​
CHC
4.230 ​
1,471,725,110​
0.1760​
4.16%​
0.2140​
5.06%​
24.03​
2.15​
-96.74%​
CQR
3.860 ​
1,424,497,295​
0.1714​
4.44%​
0.2715​
7.03%​
22.52​
3.36​
-14.88%​
CMW
0.990 ​
1,707,450,184​
0.0614​
6.20%​
0.0750​
7.58%​
16.12​
0.71​
-39.44%​
DXS
1.110 ​
5,971,233,705​
0.1081​
9.74%​
0.0618​
5.57%​
10.27​
1.08​
-2.78%​
FDC
2.460 ​
3,511,998,250​
0.2247​
9.13%​
0.1500​
6.10%​
10.95​
2.30​
-6.96%​
GMG
5.040 ​
8,707,537,319​
0.0939​
1.86%​
0.2005​
3.98%​
53.67​
2.73​
-84.62%​
GPT
3.960 ​
6,674,425,382​
0.3150​
7.95%​
0.2040​
5.15%​
12.57​
3.79​
-4.49%​
IOF
3.270 ​
2,007,935,188​
0.2622​
8.02%​
0.1825​
5.58%​
12.47​
3.23​
-1.24%​
MGR
1.740 ​
6,424,566,803​
0.0914​
5.25%​
0.0890​
5.11%​
19.04​
1.65​
-5.45%​
SCP
1.750 ​
1,135,099,560​
0.1220​
6.97%​
0.1100​
6.29%​
14.34​
1.59​
-10.06%​
SGP
3.830 ​
8,912,327,885​
0.2434​
6.36%​
0.2400​
6.27%​
15.74​
3.52​
-8.81%​
WDC
10.870 ​
22,973,764,718​
0.7413​
6.82%​
0.5100​
4.69%​
14.66​
7.29​
-49.11%​
WRT
3.220 ​
9,593,069,173​
0.2568​
7.98%​
0.1985​
6.16%​
12.54​
3.52​
8.52%​


The comparison table of this weeks closing prices versus last weeks closing prices follows:

Share Code Closing_Price Closing_Price Change$ Change%
2-May-14 9-May-14
Abacus Property ABP
2.450​
2.590​
0.140​
5.71% ​
Australand_Property ALZ
4.300​
4.260​
-0.040​
-0.93%​
Aveo (FKP Stapled) AOG
2.030​
2.060​
0.030​
1.48%​
BWP Trust BWP
2.500​
2.560​
0.060​
2.40%​
Challenger Div CDI
2.740​
2.750​
0.010​
0.36%​
CFS Retail Trust CFX
2.030​
2.050​
0.020​
0.99%​
Charter Hall CHC
4.110​
4.230​
0.120​
2.92%​
Charter Hall Retail CQR
3.810​
3.860​
0.050​
1.31%​
Cromwell CMW
0.970​
0.990​
0.020​
2.06%​
Dexus DXS
1.100​
1.110​
0.010​
0.91%​
Federation Centres FDC
2.430​
2.460​
0.030​
1.23%​
Goodman Group GMG
4.930​
5.040​
0.110​
2.23%​
GPT Group GPT
3.900​
3.960​
0.060​
1.54%​
Investa Office IOF
3.290​
3.270​
-0.020​
-0.61%​
Mirvac Group MGR
1.750​
1.740​
-0.010​
-0.57%​
SCA Property Group SCP
1.690​
1.750​
0.060​
3.55%​
Stockland Property SGP
3.880​
3.830​
-0.050​
-1.29%​
Westfield WDC
10.730​
10.870​
0.140​
1.30%​
Westfield Retail WRT
3.180​
3.220​
0.040​
1.26%​


Comments:

1. The shares listed in the tables above make up the XPJ A-REIT Property Sector (plus Aveo Group and Challenger Diversified).

2. The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 11 April 2014, can change from day to day due to active share buy-back programs and other factors.

3. The "Earnings", "Distribution" and "NTA" figures have been updated as at 24 April 2014. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Discount to NTA" also.

4. Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

Disclaimer: These tables may contain errors and should not be relied upon for investment decisions. As always, do your own research and good luck .
 
A-REIT Sector: Weekending Friday 16 May 2014

Westfields are reportedly still facing stiff opposition from some of the major share holders of Westfield Retail in respect of the proposed restructure. However that did not stop their shares from climbing. Seems that some investors are reasoning that by buying shares in both companies they will come out in front regardless. Representing a large proportion of the A-REIT sector their increase for the week was enough to offset falls in other A-REIT's, effectively propping up the sector.

For me (for the most part) the spreads across the sector are still too tight and the volumes too low to get a decent position with a reasonable risk return aspect. Still watching and waiting.



The A-REIT Table for closing prices for week ending 16 May 2014 follows:

Code Closing Price Capital Earnings $ ROE Dist $ Yield % P/E NTA $ Discount to NTA
ABP
2.450 ​
1,236,031,446​
0.1846​
7.53%​
0.1650​
6.73%​
13.27​
2.34​
-4.70%​
ALZ
4.240 ​
2,454,894,399​
0.2340​
5.52%​
0.2150​
5.07%​
18.12​
3.57​
-18.77%​
AOG
2.070 ​
1,035,230,722​
0.0087​
0.42%​
0.0087​
0.42%​
237.93​
2.78​
25.54%​
BWP
2.520 ​
1,580,458,116​
0.2276​
9.03%​
0.1392​
5.52%​
11.07​
2.02​
-24.75%​
CDI
2.740 ​
586,636,776​
0.1607​
5.86%​
0.1840​
6.72%​
17.05​
2.74​
0.00%​
CFX
2.000 ​
6,036,101,620​
0.1255​
6.28%​
0.1360​
6.80%​
15.94​
2.02​
0.99%​
CHC
4.250 ​
1,478,683,622​
0.1760​
4.14%​
0.2140​
5.04%​
24.15​
2.15​
-97.67%​
CQR
3.860 ​
1,424,497,295​
0.1714​
4.44%​
0.2715​
7.03%​
22.52​
3.36​
-14.88%​
CMW
0.980 ​
1,690,203,213​
0.0614​
6.27%​
0.0750​
7.65%​
15.96​
0.71​
-38.03%​
DXS
1.110 ​
5,971,233,705​
0.1081​
9.74%​
0.0618​
5.57%​
10.27​
1.08​
-2.78%​
FDC
2.430 ​
3,469,169,003​
0.2247​
9.25%​
0.1500​
6.17%​
10.81​
2.30​
-5.65%​
GMG
5.070 ​
8,759,367,898​
0.0939​
1.85%​
0.2005​
3.95%​
53.99​
2.73​
-85.71%​
GPT
3.850 ​
6,489,024,677​
0.3150​
8.18%​
0.2040​
5.30%​
12.22​
3.79​
-1.58%​
IOF
3.310 ​
2,032,497,086​
0.2622​
7.92%​
0.1825​
5.51%​
12.62​
3.23​
-2.48%​
MGR
1.765 ​
6,516,873,798​
0.0914​
5.18%​
0.0890​
5.04%​
19.31​
1.65​
-6.97%​
SCP
1.705 ​
1,105,911,286​
0.1220​
7.16%​
0.1100​
6.45%​
13.98​
1.59​
-7.23%​
SGP
3.820 ​
8,889,058,099​
0.2434​
6.37%​
0.2400​
6.28%​
15.69​
3.52​
-8.52%​
WDC
11.070 ​
23,396,465,081​
0.7413​
6.70%​
0.5100​
4.61%​
14.93​
7.29​
-51.85%​
WRT
3.250 ​
9,682,445,594​
0.2568​
7.90%​
0.1985​
6.11%​
12.66​
3.52​
7.67%​


The comparison table of this weeks closing prices versus last weeks closing prices follows:

Share Code Closing_Price Closing_Price Change$ Change%
9-May-14 16-May-14
Abacus Property ABP
2.590​
2.450​
-0.140​
-5.41% ​
Australand_Property ALZ
4.260​
4.240​
-0.020​
-0.47%​
Aveo (FKP Stapled) AOG
2.060​
2.070​
0.010​
0.49%​
BWP Trust BWP
2.560​
2.520​
-0.040​
-1.56%​
Challenger Div CDI
2.750​
2.740​
-0.010​
-0.36%​
CFS Retail Trust CFX
2.050​
2.000​
-0.050​
-2.44%​
Charter Hall CHC
4.230​
4.250​
0.020​
0.47%​
Charter Hall Retail CQR
3.860​
3.860​
0.000​
0.00%​
Cromwell CMW
0.990​
0.980​
-0.010​
-1.01%​
Dexus DXS
1.110​
1.110​
0.000​
0.00%​
Federation Centres FDC
2.460​
2.430​
-0.030​
-1.22%​
Goodman Group GMG
5.040​
5.070​
0.030​
0.60%​
GPT Group GPT
3.960​
3.850​
-0.110​
-2.78%​
Investa Office IOF
3.270​
3.310​
0.040​
1.22%​
Mirvac Group MGR
1.740​
1.765​
0.025​
1.44%​
SCA Property Group SCP
1.750​
1.705​
-0.045​
-2.57%​
Stockland Property SGP
3.830​
3.820​
-0.010​
-0.26%​
Westfield WDC
10.870​
11.070​
0.200​
1.84% ​
Westfield Retail WRT
3.220​
3.250​
0.030​
0.93%​


Comments:

1. The shares listed in the tables above make up the XPJ A-REIT Property Sector (plus Aveo Group and Challenger Diversified).

2. The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 11 April 2014, can change from day to day due to active share buy-back programs and other factors.

3. The "Earnings", "Distribution" and "NTA" figures have been updated as at 24 April 2014. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Discount to NTA" also.

4. Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

Disclaimer: These tables may contain errors and should not be relied upon for investment decisions. As always, do your own research and good luck .
 
A-REIT Sector: Weekending Friday 23 May 2014

The A-REIT Sector moved slightly higher this week. As mining tumbled and Finance took a step back, it seemed that some investors and/or fund managers sought safe haven in dividend yielding stocks. The low price/earnings multiples of some of the A-REIT stocks combined with their higher yields are apparently looking better than investing in bonds.

The sector is looking very toppy for me and the share price spreads are mostly still too tight to take a viable position with a reasonable risk return aspect. Still watching and waiting.



The A-REIT Table for closing prices for week ending 23 May 2014 follows:

Code Closing Price Capital Earnings $ ROE Dist $ Yield % P/E NTA $ Discount to NTA
ABP
2.450 ​
1,236,031,446​
0.1846​
7.53%​
0.1650​
6.73%​
13.27​
2.34​
-4.70%​
ALZ
4.260 ​
2,466,474,089​
0.2340​
5.49%​
0.2150​
5.05%​
18.21​
3.57​
-19.33%​
AOG
2.020 ​
1,010,225,149​
0.0087​
0.43%​
0.0087​
0.43%​
232.18​
2.78​
27.34%​
BWP
2.550 ​
1,599,273,093​
0.2276​
8.93%​
0.1392​
5.46%​
11.20​
2.02​
-26.24%​
CDI
2.740 ​
586,636,776​
0.1607​
5.86%​
0.1840​
6.72%​
17.05​
2.74​
0.00%​
CFX
2.070 ​
6,247,365,177​
0.1255​
6.06%​
0.1360​
6.57%​
16.49​
2.02​
-2.48%​
CHC
4.280 ​
1,489,121,388​
0.1760​
4.11%​
0.2140​
5.00%​
24.32​
2.15​
-99.07%​
CQR
3.890 ​
1,435,568,518​
0.1714​
4.41%​
0.2715​
6.98%​
22.70​
3.36​
-15.77%​
CMW
0.980 ​
1,690,203,213​
0.0614​
6.27%​
0.0750​
7.65%​
15.96​
0.71​
-38.03%​
DXS
1.135 ​
6,105,720,950​
0.1081​
9.52%​
0.0618​
5.44%​
10.50​
1.08​
-5.09%​
FDC
2.450 ​
3,497,721,834​
0.2247​
9.17%​
0.1500​
6.12%​
10.90​
2.30​
-6.52%​
GMG
5.100 ​
8,811,198,478​
0.0939​
1.84%​
0.2005​
3.93%​
54.31​
2.73​
-86.81%​
GPT
3.900 ​
6,573,297,725​
0.3150​
8.08%​
0.2040​
5.23%​
12.38​
3.79​
-2.90%​
IOF
3.310 ​
2,032,497,086​
0.2622​
7.92%​
0.1825​
5.51%​
12.62​
3.23​
-2.48%​
MGR
1.765 ​
6,516,873,798​
0.0914​
5.18%​
0.0890​
5.04%​
19.31​
1.65​
-6.97%​
SCP
1.720 ​
1,115,640,710​
0.1220​
7.09%​
0.1100​
6.40%​
14.10​
1.59​
-8.18%​
SGP
3.840 ​
8,935,597,670​
0.2434​
6.34%​
0.2400​
6.25%​
15.78​
3.52​
-9.09%​
WDC
11.030 ​
23,311,925,008​
0.7413​
6.72%​
0.5100​
4.62%​
14.88​
7.29​
-51.30%​
WRT
3.200 ​
9,533,484,893​
0.2568​
8.03%​
0.1985​
6.20%​
12.46​
3.52​
9.09%​


The comparison table of this weeks closing prices versus last weeks closing prices follows:

Share Code Closing_Price Closing_Price Change$ Change%
16-May-14 23-May-14
Abacus Property ABP
2.450​
2.450​
0.000​
0.00%​
Australand_Property ALZ
4.240​
4.260​
0.020​
0.47%​
Aveo (FKP Stapled) AOG
2.070​
2.020​
-0.050​
-2.42%​
BWP Trust BWP
2.520​
2.550​
0.030​
1.19%​
Challenger Div CDI
2.740​
2.740​
0.000​
0.00%​
CFS Retail Trust CFX
2.000​
2.070​
0.070​
3.50% ​
Charter Hall CHC
4.250​
4.280​
0.030​
0.71%​
Charter Hall Retail CQR
3.860​
3.890​
0.030​
0.78%​
Cromwell CMW
0.980​
0.980​
0.000​
0.00%​
Dexus DXS
1.110​
1.135​
0.025​
2.25%​
Federation Centres FDC
2.430​
2.450​
0.020​
0.82%​
Goodman Group GMG
5.070​
5.100​
0.030​
0.59%​
GPT Group GPT
3.850​
3.900​
0.050​
1.30%​
Investa Office IOF
3.310​
3.310​
0.000​
0.00%​
Mirvac Group MGR
1.765​
1.765​
0.000​
0.00%​
SCA Property Group SCP
1.705​
1.720​
0.015​
0.88%​
Stockland Property SGP
3.820​
3.840​
0.020​
0.52%​
Westfield WDC
11.070​
11.030​
-0.040​
-0.36%​
Westfield Retail WRT
3.250​
3.200​
-0.050​
-1.54%​



Comments:

1. The shares listed in the tables above make up the XPJ A-REIT Property Sector (plus Aveo Group and Challenger Diversified).

2. The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 11 April 2014, can change from day to day due to active share buy-back programs and other factors.

3. The "Earnings", "Distribution" and "NTA" figures have been updated as at 24 April 2014. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Discount to NTA" also.

4. Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

Disclaimer: These tables may contain errors and should not be relied upon for investment decisions. As always, do your own research and good luck .
 
A-REIT Sector: Weekending Friday 30 May 2014

The A-REIT Sector moved higher this week then retraced to finish at the levels of two weeks ago. The adage "In May stay away" didn't kick in this year however the fear index and volatility indexes are reportedly at levels where a lot of investors are supposedly anticipating another correction, perhaps in June?
It probably isn't much of a surprise that Westfield Group finished the week lower as Westfield Retail Trust shareholders declined to support the proposed restructure. Seems as it became apparent earlier in the week and shareholders started selling down both companies to some extent.



The A-REIT Table for closing prices for week ending 30 May 2014 follows:

Code Closing Price Capital Earnings $ ROE Dist $ Yield % P/E NTA $ Discount to NTA
ABP
2.420 ​
1,220,896,367​
0.1846​
7.63%​
0.1650​
6.82%​
13.11​
2.34​
-3.42%​
ALZ
4.290 ​
2,483,843,625​
0.2340​
5.45%​
0.2150​
5.01%​
18.33​
3.57​
-20.17%​
AOG
2.040 ​
1,020,227,378​
0.0087​
0.43%​
0.0087​
0.43%​
234.48​
2.78​
26.62%​
BWP
2.580 ​
1,618,088,071​
0.2276​
8.82%​
0.1392​
5.40%​
11.34​
2.02​
-27.72%​
CDI
2.740 ​
586,636,776​
0.1607​
5.86%​
0.1840​
6.72%​
17.05​
2.74​
0.00%​
CFX
2.050 ​
6,187,004,161​
0.1255​
6.12%​
0.1360​
6.63%​
16.33​
2.02​
-1.49%​
CHC
4.310 ​
1,499,559,155​
0.1760​
4.08%​
0.2140​
4.97%​
24.49​
2.15​
-100.47%​
CQR
4.000 ​
1,476,163,000​
0.1714​
4.29%​
0.2715​
6.79%​
23.34​
3.36​
-19.05%​
CMW
0.995 ​
1,716,073,670​
0.0614​
6.17%​
0.0750​
7.54%​
16.21​
0.71​
-40.14%​
DXS
1.115 ​
5,998,131,154​
0.1081​
9.70%​
0.0618​
5.54%​
10.31​
1.08​
-3.24%​
FDC
2.520 ​
3,597,656,744​
0.2247​
8.92%​
0.1500​
5.95%​
11.21​
2.30​
-9.57%​
GMG
5.090 ​
8,793,921,618​
0.0939​
1.84%​
0.2005​
3.94%​
54.21​
2.73​
-86.45%​
GPT
3.900 ​
6,573,297,725​
0.3150​
8.08%​
0.2040​
5.23%​
12.38​
3.79​
-2.90%​
IOF
3.350 ​
2,057,058,984​
0.2622​
7.83%​
0.1825​
5.45%​
12.78​
3.23​
-3.72%​
MGR
1.810 ​
6,683,026,387​
0.0914​
5.05%​
0.0890​
4.92%​
19.80​
1.65​
-9.70%​
SCP
1.730 ​
1,122,126,994​
0.1220​
7.05%​
0.1100​
6.36%​
14.18​
1.59​
-8.81%​
SGP
3.900 ​
9,075,216,384​
0.2434​
6.24%​
0.2400​
6.15%​
16.02​
3.52​
-10.80%​
WDC
10.700 ​
22,614,469,410​
0.7413​
6.93%​
0.5100​
4.77%​
14.43​
7.29​
-46.78%​
WRT
3.190 ​
9,503,692,753​
0.2568​
8.05%​
0.1985​
6.22%​
12.42​
3.52​
9.38%​


The comparison table of this weeks closing prices versus last weeks closing prices follows:

Share Code Closing_Price Closing_Price Change$ Change%
23-May-14 30-May-14
Abacus Property ABP
2.450​
2.420​
-0.030​
-1.22%​
Australand_Property ALZ
4.260​
4.290​
0.030​
0.70%​
Aveo (FKP Stapled) AOG
2.020​
2.040​
0.020​
0.99%​
BWP Trust BWP
2.550​
2.580​
0.030​
1.18%​
Challenger Div CDI
2.740​
2.740​
0.000​
0.00%​
CFS Retail Trust CFX
2.070​
2.050​
-0.020​
-0.97%​
Charter Hall CHC
4.280​
4.310​
0.030​
0.70%​
Charter Hall Retail CQR
3.890​
4.000​
0.110​
2.83% ​
Cromwell CMW
0.980​
0.995​
0.015​
1.53%​
Dexus DXS
1.135​
1.115​
-0.020​
-1.76%​
Federation Centres FDC
2.450​
2.520​
0.070​
2.86%​
Goodman Group GMG
5.100​
5.090​
-0.010​
-0.20%​
GPT Group GPT
3.900​
3.900​
0.000​
0.00%​
Investa Office IOF
3.310​
3.350​
0.040​
1.21%​
Mirvac Group MGR
1.765​
1.810​
0.045​
2.55%​
SCA Property Group SCP
1.720​
1.730​
0.010​
0.58%​
Stockland Property SGP
3.840​
3.900​
0.060​
1.56%​
Westfield WDC
11.030​
10.700​
-0.330​
-2.99% ​
Westfield Retail WRT
3.200​
3.190​
-0.010​
-0.31%​


The comparison table of this months closing prices versus last months closing prices follows:

Share Code Closing_Price Closing_Price Change$ Change%
2-May-14 30-May-14
Abacus Property ABP
2.450​
2.420​
-0.030​
-1.22%​
Australand_Property ALZ
4.300​
4.290​
-0.010​
-0.23%​
Aveo (FKP Stapled) AOG
2.030​
2.040​
0.010​
0.49%​
BWP Trust BWP
2.500​
2.580​
0.080​
3.20%​
Challenger Div CDI
2.740​
2.740​
0.000​
0.00%​
CFS Retail Trust CFX
2.030​
2.050​
0.020​
0.99%​
Charter Hall CHC
4.110​
4.310​
0.200​
4.87%​
Charter Hall Retail CQR
3.810​
4.000​
0.190​
4.99%​
Cromwell CMW
0.970​
0.995​
0.025​
2.58%​
Dexus DXS
1.100​
1.115​
0.015​
1.36%​
Federation Centres FDC
2.430​
2.520​
0.090​
3.70%​
Goodman Group GMG
4.930​
5.090​
0.160​
3.25%​
GPT Group GPT
3.900​
3.900​
0.000​
0.00%​
Investa Office IOF
3.290​
3.350​
0.060​
1.82%​
Mirvac Group MGR
1.750​
1.810​
0.060​
3.43%​
SCA Property Group SCP
1.690​
1.730​
0.040​
2.37%​
Stockland Property SGP
3.880​
3.900​
0.020​
0.52%​
Westfield WDC
10.730​
10.700​
-0.030​
-0.28%​
Westfield Retail WRT
3.180​
3.190​
0.010​
0.31%​



Comments:

1. The shares listed in the tables above make up the XPJ A-REIT Property Sector (plus Aveo Group and Challenger Diversified).

2. The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 11 April 2014, can change from day to day due to active share buy-back programs and other factors.

3. The "Earnings", "Distribution" and "NTA" figures have been updated as at 24 April 2014. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Discount to NTA" also.

4. Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

Disclaimer: These tables may contain errors and should not be relied upon for investment decisions. As always, do your own research and good luck .
 
A-REIT Sector: Weekending Friday 06 June 2014

The A-REIT Sector surged this week (in my opinion) on the back of two significant events, possibly three:

The first event was the unexpected take over offer from the Singapore based Fraser Centrepoint Group for Australand, upping the ante on the existing take over offer from Stockland. ALZ surged and not surprisingly so did Stockland. The surprise offer seemed to bouy the A-REIT sector with almost all of the stocks being seen as potential take over targets. Stockland are sitting on a short term multi million dollar profit if they sell their 19.9% stake in ALZ to Fraser.

The second event which may have kicked in on Thursday/Friday was the European Central Banks decision to pay depositors negative interest rates. The idea being to force their members banks to lend/invest their money out into the economy. This is potentially as big a stimulant to share markets as the U.S quantative easing program. There is likely to be a lot of investors looking to invest large sums Globally into safe assets with yields better than bonds and bank rates.

The possible third event could be a share price run up for A-REIT's that go ex-div this month.

The continuing Westfield debacle (in my opinion) has brought to the surface a huge conflict of interest in the manner in which the Lowy's treat the Westfield companies, particularly WRT. I'm betting this will not be finalised, which ever way the vote goes, on 20 June 2014.



The A-REIT Table for closing prices for week ending 06 June 2014 follows:

Code Closing Price Capital Earnings $ ROE Dist $ Yield % P/E NTA $ Discount to NTA
ABP
2.490 ​
1,256,211,551​
0.1846​
7.41%​
0.1650​
6.63%​
13.49​
2.34​
-6.41%​
ALZ
4.590 ​
2,657,538,984​
0.2340​
5.10%​
0.2150​
4.68%​
19.62​
3.57​
-28.57%​
AOG
2.030 ​
1,015,226,264​
0.0087​
0.43%​
0.0087​
0.43%​
233.33​
2.78​
26.98%​
BWP
2.550 ​
1,599,273,093​
0.2276​
8.93%​
0.1392​
5.46%​
11.20​
2.02​
-26.24%​
CDI
2.740 ​
586,636,776​
0.1607​
5.86%​
0.1840​
6.72%​
17.05​
2.74​
0.00%​
CFX
2.110 ​
6,368,087,209​
0.1255​
5.95%​
0.1360​
6.45%​
16.81​
2.02​
-4.46%​
CHC
4.360 ​
1,516,955,433​
0.1760​
4.04%​
0.2140​
4.91%​
24.77​
2.15​
-102.79%​
CQR
3.970 ​
1,465,091,778​
0.1714​
4.32%​
0.2715​
6.84%​
23.16​
3.36​
-18.15%​
CMW
0.990 ​
1,707,450,184​
0.0614​
6.20%​
0.0750​
7.58%​
16.12​
0.71​
-39.44%​
DXS
1.150 ​
6,186,413,298​
0.1081​
9.40%​
0.0618​
5.37%​
10.64​
1.08​
-6.48%​
FDC
2.530 ​
3,611,933,159​
0.2247​
8.88%​
0.1500​
5.93%​
11.26​
2.30​
-10.00%​
GMG
5.150 ​
8,897,582,776​
0.0939​
1.82%​
0.2005​
3.89%​
54.85​
2.73​
-88.64%​
GPT
3.950 ​
6,657,570,772​
0.3150​
7.97%​
0.2040​
5.16%​
12.54​
3.79​
-4.22%​
IOF
3.350 ​
2,057,058,984​
0.2622​
7.83%​
0.1825​
5.45%​
12.78​
3.23​
-3.72%​
MGR
1.855 ​
6,849,178,977​
0.0914​
4.93%​
0.0890​
4.80%​
20.30​
1.65​
-12.42%​
SCP
1.750 ​
1,135,099,560​
0.1220​
6.97%​
0.1100​
6.29%​
14.34​
1.59​
-10.06%​
SGP
4.000 ​
9,307,914,240​
0.2434​
6.09%​
0.2400​
6.00%​
16.43​
3.52​
-13.64%​
WDC
10.720 ​
22,656,739,446​
0.7413​
6.92%​
0.5100​
4.76%​
14.46​
7.29​
-47.05%​
WRT
3.160 ​
9,414,316,332​
0.2568​
8.13%​
0.1985​
6.28%​
12.31​
3.52​
10.23%​


The comparison table of this weeks closing prices versus last weeks closing prices follows:

Share Code Closing_Price Closing_Price Change$ Change%
30-May-14 6-Jun-14
Abacus Property ABP
2.420​
2.490​
0.070​
2.89%​
Australand_Property ALZ
4.290​
4.590​
0.300​
6.99% ​
Aveo (FKP Stapled) AOG
2.040​
2.030​
-0.010​
-0.49%​
BWP Trust BWP
2.580​
2.550​
-0.030​
-1.16%​
Challenger Div CDI
2.740​
2.740​
0.000​
0.00%​
CFS Retail Trust CFX
2.050​
2.110​
0.060​
2.93%​
Charter Hall CHC
4.310​
4.360​
0.050​
1.16%​
Charter Hall Retail CQR
4.000​
3.970​
-0.030​
-0.75%​
Cromwell CMW
0.995​
0.990​
-0.005​
-0.50%​
Dexus DXS
1.115​
1.150​
0.035​
3.14%​
Federation Centres FDC
2.520​
2.530​
0.010​
0.40%​
Goodman Group GMG
5.090​
5.150​
0.060​
1.18%​
GPT Group GPT
3.900​
3.950​
0.050​
1.28%​
Investa Office IOF
3.350​
3.350​
0.000​
0.00%​
Mirvac Group MGR
1.810​
1.855​
0.045​
2.49%​
SCA Property Group SCP
1.730​
1.750​
0.020​
1.16%​
Stockland Property SGP
3.900​
4.000​
0.100​
2.56%​
Westfield WDC
10.700​
10.720​
0.020​
0.19%​
Westfield Retail WRT
3.190​
3.160​
-0.030​
-0.94%​



Comments:

1. The shares listed in the tables above make up the XPJ A-REIT Property Sector (plus Aveo Group and Challenger Diversified).

2. The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 11 April 2014, can change from day to day due to active share buy-back programs and other factors.

3. The "Earnings", "Distribution" and "NTA" figures have been updated as at 24 April 2014. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Discount to NTA" also.

4. Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

Disclaimer: These tables may contain errors and should not be relied upon for investment decisions. As always, do your own research and good luck .
 
A-REIT Sector: Weekending Friday 13 June 2014

This week the A-REIT Sector looked like it was testing resistance around the 10.76 mark and with the proximity of the half year reporting/dividend declarations drawing nearer I was half expecting an upward spike. Then on Thursday the Iraq situation began to feature more prominently in the media and on Friday the All Ords plunged 50 points shortly after opening, dragging the A-REIT sector with it. Fortunately the Global funds looking for safe havens, following on from the European Banks negative interest rate policy, helped arrest the fall. The Aud$ rallied along with our markets with the A-REIT sector finishing down only 4 points on last weeks close.



The A-REIT Table for closing prices for week ending 13 June 2014 follows:

Code Closing Price Capital Earnings $ ROE Dist $ Yield % P/E NTA $ Discount to NTA
ABP
2.490 ​
1,256,211,551​
0.1846​
7.41%​
0.1650​
6.63%​
13.49​
2.34​
-6.41%​
ALZ
4.600 ​
2,663,328,829​
0.2340​
5.09%​
0.2150​
4.67%​
19.66​
3.57​
-28.85%​
AOG
1.970 ​
985,219,576​
0.0087​
0.44%​
0.0087​
0.44%​
226.44​
2.78​
29.14%​
BWP
2.500 ​
1,567,914,798​
0.2276​
9.10%​
0.1392​
5.57%​
10.98​
2.02​
-23.76%​
CDI
2.740 ​
586,636,776​
0.1607​
5.86%​
0.1840​
6.72%​
17.05​
2.74​
0.00%​
CFX
2.090 ​
6,307,726,193​
0.1255​
6.00%​
0.1360​
6.51%​
16.65​
2.02​
-3.47%​
CHC
4.310 ​
1,499,559,155​
0.1760​
4.08%​
0.2140​
4.97%​
24.49​
2.15​
-100.47%​
CQR
3.910 ​
1,442,949,333​
0.1714​
4.38%​
0.2715​
6.94%​
22.81​
3.36​
-16.37%​
CMW
0.975 ​
1,681,579,727​
0.0614​
6.30%​
0.0750​
7.69%​
15.88​
0.71​
-37.32%​
DXS
1.130 ​
6,078,823,501​
0.1081​
9.57%​
0.0618​
5.47%​
10.45​
1.08​
-4.63%​
FDC
2.520 ​
3,597,656,744​
0.2247​
8.92%​
0.1500​
5.95%​
11.21​
2.30​
-9.57%​
GMG
5.140 ​
8,880,305,917​
0.0939​
1.83%​
0.2005​
3.90%​
54.74​
2.73​
-88.28%​
GPT
3.880 ​
6,539,588,505​
0.3150​
8.12%​
0.2040​
5.26%​
12.32​
3.79​
-2.37%​
IOF
3.340 ​
2,050,918,510​
0.2622​
7.85%​
0.1825​
5.46%​
12.74​
3.23​
-3.41%​
MGR
1.835 ​
6,775,333,382​
0.0914​
4.98%​
0.0890​
4.85%​
20.08​
1.65​
-11.21%​
SCP
1.705 ​
1,105,911,286​
0.1220​
7.16%​
0.1100​
6.45%​
13.98​
1.59​
-7.23%​
SGP
4.000 ​
9,307,914,240​
0.2434​
6.09%​
0.2400​
6.00%​
16.43​
3.52​
-13.64%​
WDC
10.630 ​
22,466,524,283​
0.7413​
6.97%​
0.5100​
4.80%​
14.34​
7.29​
-45.82%​
WRT
3.180 ​
9,473,900,612​
0.2568​
8.08%​
0.1985​
6.24%​
12.38​
3.52​
9.66%​


The comparison table of this weeks closing prices versus last weeks closing prices follows:

Share Code Closing_Price Closing_Price Change$ Change%
6-Jun-14 13-Jun-14
Abacus Property ABP
2.490​
2.490​
0.000​
0.00%​
Australand_Property ALZ
4.590​
4.600​
0.010​
0.22%​
Aveo (FKP Stapled) AOG
2.030​
1.970​
-0.060​
-2.96%​
BWP Trust BWP
2.550​
2.500​
-0.050​
-1.96%​
Challenger Div CDI
2.740​
2.740​
0.000​
0.00%​
CFS Retail Trust CFX
2.110​
2.090​
-0.020​
-0.95%​
Charter Hall CHC
4.360​
4.310​
-0.050​
-1.15%​
Charter Hall Retail CQR
3.970​
3.910​
-0.060​
-1.51%​
Cromwell CMW
0.990​
0.975​
-0.015​
-1.52%​
Dexus DXS
1.150​
1.130​
-0.020​
-1.74%​
Federation Centres FDC
2.530​
2.520​
-0.010​
-0.40%​
Goodman Group GMG
5.150​
5.140​
-0.010​
-0.19%​
GPT Group GPT
3.950​
3.880​
-0.070​
-1.77%​
Investa Office IOF
3.350​
3.340​
-0.010​
-0.30%​
Mirvac Group MGR
1.855​
1.835​
-0.020​
-1.08%​
SCA Property Group SCP
1.750​
1.705​
-0.045​
-2.57%​
Stockland Property SGP
4.000​
4.000​
0.000​
0.00%​
Westfield WDC
10.720​
10.630​
-0.090​
-0.84%​
Westfield Retail WRT
3.160​
3.180​
0.020​
0.63% ​



Comments:

1. The shares listed in the tables above make up the XPJ A-REIT Property Sector (plus Aveo Group and Challenger Diversified).

2. The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 11 April 2014, can change from day to day due to active share buy-back programs and other factors.

3. The "Earnings", "Distribution" and "NTA" figures have been updated as at 24 April 2014. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Discount to NTA" also.

4. Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

Disclaimer: These tables may contain errors and should not be relied upon for investment decisions. As always, do your own research and good luck .
 
A-REIT Sector: Weekending Friday 20 June 2014

This week the A-REIT Sector broke through the resistance around the 10.76 mark. With the commencement of distribution notices I expect there to be some small further gains before the shares go ex-div. I also expect a sell off in some of the shares as foreign investors opt out before the ex-div date then come back in after the ex-div date, taking advantage of any price falls after the shares go ex-div. The Westfields saga saw a jump in their share prices before the June 20th meeting as punters looked to get into WDC to take advantage of the WRT/Scentre issue. It will be interesting to see what the unhappy fund managers that voted against the restructure do with their WRT/Scentre holdings.

The two year chart shows that the A-REIT sector has been steadily climbing for the last six months or so. A few of the shares are now getting into the realms of high price earnings multiples. I find it hard to see them as having the growth prospects to support further sustained share price increases.




The A-REIT Table for closing prices for week ending 20 June 2014 follows:

Code Closing Price Capital Earnings $ ROE Dist $ Yield % P/E NTA $ Discount to NTA
ABP
2.500 ​
1,284,449,848​
0.1846​
7.38%​
0.1650​
6.60%​
13.54​
2.34​
-6.84%​
ALZ
4.610 ​
2,669,118,674​
0.2340​
5.08%​
0.2150​
4.66%​
19.70​
3.57​
-29.13%​
AOG
2.030 ​
1,015,226,264​
0.0087​
0.43%​
0.0087​
0.43%​
233.33​
2.78​
26.98%​
BWP
2.590 ​
1,643,083,555​
0.2276​
8.79%​
0.1392​
5.37%​
11.38​
2.02​
-28.22%​
CDI
2.740 ​
586,636,776​
0.1607​
5.86%​
0.1840​
6.72%​
17.05​
2.74​
0.00%​
CFX
2.120 ​
6,398,267,717​
0.1255​
5.92%​
0.1360​
6.42%​
16.89​
2.02​
-4.95%​
CHC
4.430 ​
1,541,310,222​
0.1760​
3.97%​
0.2140​
4.83%​
25.17​
2.15​
-106.05%​
CQR
4.030 ​
1,487,234,223​
0.1714​
4.25%​
0.2715​
6.74%​
23.51​
3.36​
-19.94%​
CMW
0.990 ​
1,710,008,042​
0.0614​
6.20%​
0.0750​
7.58%​
16.12​
0.71​
-39.44%​
DXS
1.120 ​
6,025,028,603​
0.1081​
9.65%​
0.0618​
5.52%​
10.36​
1.08​
-3.70%​
FDC
2.600 ​
3,711,868,069​
0.2247​
8.64%​
0.1530​
5.88%​
11.57​
2.30​
-13.04%​
GMG
5.150 ​
8,897,582,776​
0.0939​
1.82%​
0.2005​
3.89%​
54.85​
2.73​
-88.64%​
GPT
3.920 ​
6,607,006,944​
0.3150​
8.04%​
0.2040​
5.20%​
12.44​
3.79​
-3.43%​
IOF
3.460 ​
2,124,604,205​
0.2622​
7.58%​
0.1850​
5.35%​
13.20​
3.23​
-7.12%​
MGR
1.825 ​
6,738,410,584​
0.0914​
5.01%​
0.0890​
4.88%​
19.97​
1.65​
-10.61%​
SCP
1.805 ​
1,170,774,118​
0.1220​
6.76%​
0.1100​
6.09%​
14.80​
1.59​
-13.52%​
SGP
4.030 ​
9,377,723,597​
0.2434​
6.04%​
0.2400​
5.96%​
16.56​
3.52​
-14.49%​
WDC
10.820 ​
22,484,908,763​
0.7413​
6.85%​
0.5100​
4.71%​
14.60​
7.29​
-48.42%​
WRT
3.210 ​
9,563,277,033​
0.2568​
8.00%​
0.1985​
6.18%​
12.50​
3.52​
8.81%​


The comparison table of this weeks closing prices versus last weeks closing prices follows:

Share Code Closing_Price Closing_Price Change$ Change%
13-Jun-14 20-Jun-14
Abacus Property ABP
2.490​
2.500​
0.010​
0.40%​
Australand_Property ALZ
4.600​
4.610​
0.010​
0.22%​
Aveo (FKP Stapled) AOG
1.970​
2.030​
0.060​
3.05%​
BWP Trust BWP
2.500​
2.590​
0.090​
3.60%​
Challenger Div CDI
2.740​
2.740​
0.000​
0.00%​
CFS Retail Trust CFX
2.090​
2.120​
0.030​
1.44%​
Charter Hall CHC
4.310​
4.430​
0.120​
2.78%​
Charter Hall Retail CQR
3.910​
4.030​
0.120​
3.07%​
Cromwell CMW
0.975​
0.990​
0.015​
1.54%​
Dexus DXS
1.130​
1.120​
-0.010​
-0.88%​
Federation Centres FDC
2.520​
2.600​
0.080​
3.17%​
Goodman Group GMG
5.140​
5.150​
0.010​
0.19%​
GPT Group GPT
3.880​
3.920​
0.040​
1.03%​
Investa Office IOF
3.340​
3.460​
0.120​
3.59%​
Mirvac Group MGR
1.835​
1.825​
-0.010​
-0.54%​
SCA Property Group SCP
1.705​
1.805​
0.100​
5.87% ​
Stockland Property SGP
4.000​
4.030​
0.030​
0.75%​
Westfield WDC
10.630​
10.820​
0.190​
1.79%​
Westfield Retail WRT
3.180​
3.210​
0.030​
0.94%​


Comments:

1. The shares listed in the tables above make up the XPJ A-REIT Property Sector (plus Aveo Group and Challenger Diversified).

2. The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 20 June 2014, can change from day to day due to active share buy-back programs and other factors.

3. The "Earnings", "Distribution" and "NTA" figures have been updated as at 20 June 2014. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Discount to NTA" also.

4. Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

Disclaimer: These tables may contain errors and should not be relied upon for investment decisions. As always, do your own research and good luck .
 
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