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Highlights
- The S&P/ASX200 closed lower today, dropping 1.27%.
- The real estate sector ‘A-REIT’ closed 2.82% lower on the ASX.
- But defying A-REIT sector blues, are Ingenia Group, Charter Hall REIT and Arena REIT.
The ASX200 closed 85 points lower at 6,601.00 points today (15 June, 2:14 PM AEST). The Australian share market appears to be under the shadow of surging inflUation and cash rate hike worries. Investors and consumers are anticipating mortgage rate hikes and the consumer confidence has dipped low. As a result, ASX200 real estate sector index (XRE) has lost 1.17% by 4:00 PM AEST.
Discussed here are a few ASX-listed real estate stocks defying the trend - Ingenia Communities Group (ASX:INA), Charter Hall Social Infrastructure REIT (ASX:CQE), Arena REIT (ASX:ARF) and Shopping Centres Australasia Property Group (ASX:SCP).
Ingenia Communities Group (ASX:INA)
Manager and developer of a portfolio of retirement and lifestyle communities across Australia, Ingenia Group holds a market capitalisation of AU$1.45 billion on the ASX. The stock closed 0.280% down at AU$3.560 apiece.
Ingenia Group had announced its latest results on February 2022, where it highlighted delays in key projects across Queensland and NSW. The Group was reportedly working closely with builders to mitigate supply chain and labour unavailability delays to manage project timelines. However, as of date, labour demand indicators were appearing strong as analysts were predicting a fall in unemployment rate.
Charter Hall Social Infrastructure REIT (ASX:CQE)
Is another A-REIT with early learning properties in its portfolio. On the ASX, Charter Hall REIT holds a market capitalisation of AU$1.14 billion.
CQE closed at AU$3.130 apiece today.
On 17 February 2022, Charter Hall REIT had announced its results for its half year as of 31 December 2021. The company’s operating profit was up 6.3% on pcp.
Arena REIT (ASX:ARF)
Yet another real-estate sector stock is Arena REIT. The company owns, develops and manages specialised real estate assets from learning and healthcare sector. It holds a market capitalisation of AU$1.34 billion.
The stock closed 0.515% lower on the ASX today.
On 9 June 2022 Arena REIT released a market update for a portfolio revaluation uplift of about AU$102 million for the six months ending 30 June 2022. It was an increase of 7.8% on HY22 boosting the REIT’s net asset value per security.
Shopping Centres Australasia Property Group (ASX:SCP)
The A-REIT group owns and manages shopping centres in Australia. Its portfolio focuses on convenience retailing across Australia. The group holds a market cap of about AU$2.95 billion on the exchange and SCP shares closed today’s trade at AU$2.610 per share, down 1.509%.
As per the group’s latest results announced on 7 February 2022, its Net Profit After Tax was up by 320.2% on a pcp basis, primarily due to an increase in the fair value of investment properties. Also, its dividend distributions were up by 26.3% on H1-FY21. As of date the annal dividend yield on SCP shares was 5.24%.
Want to know- How is REIT investing different from real estate investing?
