URW, MGR, DXS, SCG - How are these property stocks acting?

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URW, MGR, DXS, SCG - How are these property stocks acting?

ASX property stocks concept
Image source: © 2022 Kalkine Media®

Highlights

  • Australian popular index ASX200 is down today, with 7 of 11 sectors in the red.
  • Property sector representative index XRE is, however, slightly higher than the previous close.

The ASX200 shed off the initial gains and went down about 3.20 points to 7,145.70 by afternoon (1 PM AEST). The industrial sectors portrayed a mixed picture with four sectors up and seven down.

While property stocks remained in red, they had the minimum loss. The ASX200 real estate sector index (XRE) was slightly above yesterday's level. Given this fact, covered here are updates and movements of Unibail-Rodamco-Westfield (ASX:URW), Mirvac Group (ASX:MGR), DEXUS Property Group (ASX:DXS) and Scentre Group (ASX:SCG).

Unibail-Rodamco-Westfield (ASX:URW)

Operating shopping centres globally, Unibail-Rodamco-Westfield holds a market capitalisation of AU$13.85 billion dollars on ASX. Unibail -Rodamco is not just listed on the ASX but also has a presence on the European Stock Exchange as a part of Euronext Amsterdam and Euronext Paris.

On ASX, URW shares are quoted in the one-year price range of AU$3.93 to 6.53 a share. As of today afternoon, the company's share price was 2% higher than the previous close. While there were no new announcements by Unibail-Rodamco today, the share price seemed to be gaining under the influence of a positive sectoral uptrend. 

Mirvac Group (ASX:MGR)

Mirvac is another Australian property group engaged in real estate investment and capital management business. On ASX, the company holds a market capitalisation of AU$ 8.63 billion. Its share price range for the past 52-weeks is between AU$2.13 to 3.18 a share. Today, despite any announcements on ASX, the MGR share price was up 0.46% by afternoon 1:30 PM AEST. The company has not been any influential releases even in the near term. The only noteworthy one was its Macquarie Australia conference presentation, released at the beginning of the month. So, one can only trace today's share price movement to the general sectoral trend.

DEXUS Property Group (ASX:DXS)

Next is the DEXUS Property Group, a listed real estate investment trust. The real estate asset owner holds a market cap of about AU$11.43 billion on the exchange. The DXS shares trade in the 52-week price range of AU$9.51 to 11.50 a share. Post-mid-day today, DXS share price was at the same level as yesterday's close. While the company did file a change in director's interest notice on ASX, the share price remained not much affected. After its March 2022 quarterly update, Dexus group hasn't released any price influencing notices.   

Scentre Group (ASX:SCG)

Yet another property sector stock is that of Scentre Group. The property group runs shopping centres in Australia and New Zealand. It holds a market capitalisation of AU$14.84 billion with shares trading in the 52-week price range of AU$2.46 to 3.30 a share.

Today by afternoon, SCG shares were trading slightly below yesterday's close. Down 0.35% to exchange hands at AU$2.86 a share. While its latest release on ASX is dated 12 May, there is no price action influencing releases from the company today.

Share price, dividend yield and PE ratios on Tuesday afternoon

Image Source © 2022 Kalkine Media ®

URW seems to be the best performer among the four ASX-listed property stocks in the near term. However, its annual dividend yield as of date is zero. In terms of returns on distribution, SCG is visibly holding the highest annual dividend yield, followed by DXS and MGR shares. The stock with the highest price-earnings ratio is also SCG. However, in terms of price performance, SCG's share has slumped maximum in the near term.

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