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Highlights:
- The S&P/ASX 200 Real Estate index increased 0.77% and was trading at 3,164.10 points on 1 May 2023, at 3:45 pm AEST.
- For 1H FY23, GMG’s board declared a 15-cps distribution, which was paid on 24 February this year.
- In its FY22 results, SCG noted revenue increased 7.8% to AU$2,457.9% from pcp.
The S&P/ASX 200 Real Estate index increased 0.77% and was trading at 3,164.10 points on Monday, 1 May 2023, at 3:45 pm AEST. At the same time, Goodman Group (ASX:GMG), Scentre Group (ASX:SCG) and Charter Hall Group (ASX:CHC) were trading up by 1.139%, 0.347%, and 0.808%, respectively.
Let’s see how the three ASX200 real estate stocks- GMG, SCG and CHC are doing in 2023.
Goodman Group (ASX: GMG)
The integrated property group rose 1.139% and was trading at AU$19.530 on Monday at 3: 45 pm AEST.
In its 1H FY23 results ended 31 December last year, the company clocked revenue of AU$1,019.0 million, down 1.5% from AU$1,034.0 million. Operating profit was AU$877 million, growing 11.5% on pcp, which equated to an operating EPS of 46.4 cents, rising 10.7% on pcp.
Statutory profit was at AU$1,097 million, decreasing 45.2% from pcp, it consisted of GMG’s share of the property valuation gains, the expense associated with the LTIP of AU$122.9 million and a net fair value loss on derivatives of AU$101.4 million.
During the reported period, total AUM was at AU$79.5 billion, increasing 17% on pcp. GMG’s portfolio occupancy remained high at 99%, and like-for-like NPI growth was 4.2%. GMG’s gearing was 9.7%, with look-through gearing at 20.7%.
For the interim period, GMG’s board declared a 15-cps distribution, which was paid on 24 February this year.
Scentre Group (ASX: SCG)
The owner and operator of 42 Westfield destinations through ANZ regions increased 0.347% and was trading at AU$2.890 on Monday at 3:45 pm AEST.
In its FY22 results ended 31 December last year, revenue increased 7.8% to AU$2,457.9 from pcp. However, PAT was AU$322.2 million, down from AU$904 million in pcp. FFO for the period stood at AU$1,040 million, which rose 20.06%. Operating profit, which is derived from FFO (excl. project income, net of tax), reached AU$1,022 million, elevated by 21% on pcp. A final dividend of 8.25 cps was paid on 28 February this year.
During the reported period, GMG’s portfolio occupancy was 98.9%, rising 0.2% from pcp. The company concluded 3,409 lease deals (inclusive of 1,177 merchant deals) in the fiscal year, reflecting the highest number of deals. Gross rent collection for the full-year period clocked AU$2,592 million, which was the highest rental cash collected since SCG was formed.
Charter Hall Group (ASX: CHC)
The leading 100% integrated property investment and funds management groups grew 0.808% and were trading at AU$11.220 on Monday at 3:45 pm AEST.
In its 1H FY23 ended 31 December last year, CHC In its 1H FY23 ended 31 December last year, CHC revenue fell by 16.4% to AU$473.1 million from AU$566.1 million. Statutory profit was noted at AU$226.5 million, decreasing 56.3% from AU$517.8 million in pcp.
During 1H FY23, the group’s FUM rose AU$88 billion (including AU$73 billion of property FUM and AU$15 billion of PIM FUM. As of 31 December, last year, CHC’s balance sheet held AU$367 million, reflecting balance sheet gearing of 3%. In the reported period, portfolio occupancy was robust at 97.4%, and the WALE stayed healthy at 7.7 years, along with WARR, which was a 3.7% high.
