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Highlights
- The S&P/ASX200 is up today, gaining 87.80 points or 1.33% to 6,666.50 at 10:20 AM AEST. All 11 sectors are higher today along with the S&P/ASX 200 Index.
- The ASX200 A-REIT index (XPJ) is up 1.30% and has gained over 4% in last five trading days amid rising inflation concerns
Amid times of market volatility, real estate investment trust (REIT) funds seek to provide investors with a regular source of income. A more non-traditional source of income REITs are legally obliged to distribute most of the net income as dividends. Thus, REITs are defensive, provide regular dividend income and tend to be a good hedge against inflation.
In Australia, A-REITs sector has been gaining since a past few days. In a market sceptical of rate rises and inflation, The ASX200 A-REIT index (XPJ) has gained over 4% in last five trading days. It is also amongst the top gainers on ASX200 today. Even today, the A-REITs sector is up more than 1%.
In this regard, covered here are share price performance and dividend updates of Unibail-Rodamco-Westfield (ASX:URW), Mirvac Group (ASX:MGR), DEXUS Property Group (ASX:DXS), Scentre Group (ASX:SCG), Goodman Group (ASX:GMG)
Unibail-Rodamco-Westfield (ASX:URW)
Shopping centre operator, Unibail-Rodamco-Westfield’s share price is up 2.179% at AU$3.985 apiece.
URW, on 14 June, announced sale of its Almere Centrum in The Netherlands. Expected to close in July, the sale agreement on completion will represent completion of more than half of URW’s planned European disposal programme.
Mirvac Group (ASX:MGR)
Another Aussie property group, Mirvac’s share price is also worth a watch. Today, MGR opened up strong and is spotted trading at AU$2.150 apiece, up 0.938 at 10:20 AM AEST.
Recently Mirvac Group declared an AU$0.051 distribution for its fully paid ordinary securities. The ex-dividend date was 26 June 2022, meanwhile MGR shares seem to be gaining post the ex-dividend date.
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DEXUS Property Group (ASX:DXS)
Yet another A-REIT sector company gaining on dividend distribution is DEXUS Property Group. The DXS share price is 0.963% up at AU$9.430 per share at 10:20 AM AEST.
The company recently announced an AU$0.252 per share dividend on fully paid units. The ex-dividend date on DXS shares is 29 June. Dexus also announced a portfolio valuation update on 22 June. Dexus’ 177 assets, comprising of office industrial and healthcare properties were externally valued as of 30 June 2022. The resultant was an increase of about 2.2% on prior book values.
Scentre Group (ASX:SCG)
Another real estate stock focused on shopping centres is Scentre Group. Today, SCG share price is 0.746% higher at AU$2.700 per share. Its annual dividend yield as of date is also about 5.31%.
Scentre group claims that about 80% of its specialty leases are inflation linked and remaining 20% have fixed annual rent escalations of an average 4%. Notably, specialty rent represents over 90% of Scentre’s net operating income. So, it seems that due to an inflation-linked revenue base, despite any new ASX releases investors remained positive on SCG shares.
Goodman Group (ASX:GMG)
The biggest real estate stock listed on ASX in terms of market cap, Goodman Group shares also traded marginally up today morning. The group had recently declared dividend of AU$0.15 a share. Notably, the ex-dividend date is 29 June. It has remained consistent with its dividend amount since June 2021 paying the same amount every time.
The shares are quoted at AU$18.830 per share, up 0.802% at 10:48 AM AEST.
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