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Highlights
- Today, the S&P/ASX 200 Real Estate Index (ASX:XRE) was up 0.20% at 3696.60 points during the intraday trading session.
- Real-estate stocks have become a focus of attention after the Federal budget announced last week talked about an increase in infrastructure spending.
- On Tuesday, the S&P/ASX 200 Financial-x-Property Trusts (ASX:XXJ) Sector was 0.699% higher at AU$7541.300 points at 1:48 PM AEST.
Today, the S&P/ASX 200 Real Estate Index (ASX:XRE) was up 0.20% at 3696.60 points during the intraday trading session. In the last five days, the benchmark index has gained 1.38%. Over the last one year, XRE has gained almost 12%, thanks to the booming housing demand in Australia.
Recently, real-estate stocks have become a focus of attention after the Federal budget announced last week talked about an increase in infrastructure spending by the Morrison-led Government. It is believed that the infrastructure spending by the Australian Government will also impact the real-estate sector in the country.
In this year's budget, the Government has boosted infrastructural spending as the Morrison Government's 10‑year infrastructure investment pipeline has been increased to an unparalleled AU$120 billion.
Furthermore, the government is providing an additional $2 billion in low‑cost financing to National Housing Finance and Investment Corporation (NHFIC), further supporting social and affordable homes for vulnerable Australians.
It is expected that the housing demand will continue to grow, which will indirectly impact the real estate sector.
In this article, we will look at the 3 ASX-listed real-estate stocks and their recent performance on the ASX. The three stocks are Lendlease Group (ASX:LLC), Mirvac Group (ASX:MGR), and Dexus Property Group (ASX:DXS).
Lendlease Group (ASX:LLC)
Today the shares of Lendlease Group traded 0.771% higher at AU$11.105 per share on ASX at 12:49 PM AEST. Lendlease shares have fallen 14.71% over the last 12-months, while the stock is up 2.07% YTD.
Landlease Group is an ASX-listed real estate company that commands a market capitalisation of AU$7.59 billion.
The stock has been on investors' radar after the company announced last week that Australia's leading superannuation fund, Aware Super, purchased another 24.9% interest in the Lendlease Retirement Living Trust. Aware Super will now own 49.9% interest in the trust.
For the period ending 31 December 2021, the Group's Statutory Loss After Tax was $264 million. The company had also slashed its interim dividend by 67%, from 15cps to 5 cps. LLC's Core Operating EPS also saw a decline of 86% at 4.1 cents in HY22 compared to 29.8 cents in HY21.
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Mirvac Group (ASX:MGR)
Mirvac's shares traded 1.172% lower at AU$2.530 per share on ASX at 1:07 PM AEST on Tuesday (5 April 2022). The share price of Mirvac Group has gained 2.43% over the last one year, while the stock is down 15.67% YTD.
Mirvac Group is an ASX-listed Australian property group, engaged in the business of property asset management, real estate investment and development activities. The company has a market capitalisation of AU$10.09 billion.
Encouraged by its solid balance sheet, high residential pre-sales along with robust commercial development, Mirvac has retained its FY22 guidance of at least 15.0 cents per stapled security.
In its interim result for the half-year ended 31 December 2021, Mirvac Group delivered a solid result, with statutory profit up 44% and operating profit up 9% to $297million, representing 7.5 cents per stapled security.
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Dexus Property Group (ASX:DXS)
On Tuesday, ASX-listed Australian Real Estate Investment Trust Dexus Property Group shares were spotted trading 0.727% lower at AU$10.930 per share on ASX during the intraday trading session. Over the last 12 months, Dexus shares have gained 13.85%. The stock is down 3.27% YTD.
Dexus manages, owns, and develops Australian real estate assets. The company has a market capitalisation of AU$11.84 billion.
