Both the stocks SCP and EVT were seen in action on 22 October 2018. While SCP continues to move higher from past four days and EVT broke its 5-day streak of losing and traded positively on 22 October 2018.
Shopping Centres Australasia Property Group (ASX: SCP)
Based in Australia, Shopping Centres Australasia Property Group (ASX: SCP) owns a portfolio of quality sub-regional and neighborhood shopping centers and freestanding retail assets which are focused on convenience retailing across Australia. On 22 October, the company announced its intention to offer unitholders the opportunity to participate in a unit purchase plan (UPP) by applying for A$5,000, A$10,000 or A$15,000 of new ordinary units in SCA without incurring brokerage. With this announcement, the share price of the company increased by 0.395 percent as on 22 October 2018. The intention to launch the UPP Offer was announced on 3 October 2018 and on that day, the company announced that it is planning to acquire a portfolio of 10 convenience-based shopping centers for $573 million, to be partly funded by an institutional placement and a UPP. In FY 2018, the net profit of the company increased by 45.2 percent to $175.2 million as compared to the profit for last year. The EBIT of the company increased by 41.1 percent to $205.9 million as compared to the prior corresponding period. Total cash held by the company at the end of the year was $3.7 million which is an increase of 2.8 percent in the last year. The company experienced an $89.2 million increase in the property value which includes acquisitions and revaluation gains.
In the past three months, the share price of the company increased by 4.55 percent as on 19 October 2018, traded at a PE Level of 10.770x. SCP’s shares traded at $2.540 with a market capitalization of circa $2.19 billion as on 22 October 2018 (AEST 4:00 PM). [optin-monster-shortcode id=”swikrbu1d9j9aq0o4cko”]
Event Hospitality and Entertainment (ASX: EVT)
Based in Australia, Event Hospitality and Entertainment (ASX: EVT) is an entertainment, hospitality, and leisure company which operates through Entertainment Australia, Entertainment New Zealand, Entertainment Germany, Hotels and Resorts, Thredbo Alpine Resort, and Property and Other Investments segments. On 22 October 2018, EVT announced that it has entered into an agreement for the sale of its German cinema exhibition division, CineStar, to Vue International Bidco Plc (“Vue”) for an upfront payment of A$210 million and variable consideration of up to A$148 million depending on Germany market admissions for CY 2019. This represents a maximum potential enterprise value for CineStar of A$358 million. Following this news, the company snaps its 5-day losing streak and witnessed an intra-day increase of 0.642 percent in its share price as on 22 October 2018.
In FY 2018, the group EBITDA of the company increased by 10 percent to $268 million as compared to the figures of last year. The normalized profit of the company increased by 9 percent to $124 million in FY 2018 as compared to the figures of last year. In the past three months, the share price of the company increased by 3.17 percent as on 19 October 2018 and traded at a PE level of 20.040x. EVT’s shares traded at $14.100 with a market capitalization of circa $2.25 billion as on 22 October 2018 (AEST 4:00 PM)
The Income available from dividends remains attractive for many investors.
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