11 stories mentioning ASX:SCGUpdated 18d ago
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Scentre Group (ASX:SCG) said Australian Retirement Trust has received clearance from the Australian Competition and Consumer Commission (ACCC) for its joint venture transaction at Westfield Mt Gravatt, with settlement scheduled before Sept. 30, according to a Wednesday Australian bourse filing.The company's shares rose 1% in recent Wednesday trade.
Scentre Group (ASX:SCG) logged AU$0.1173 in funds from operations per security for the first half, compared with AU$0.1128 a year ago, a Tuesday filing showed.Analysts polled by FactSet expected AU$0.1183.For the six months ended June 30, revenue was AU$1.2 billion versus AU$1.31 billion previously, the Australia-listed real estate investment trust added.The company's board declared an interim dividend of AU$0.09215 per stapled security, up from AU$0.08815 a year earlier, payable Aug. 31 to shareholders of record as of Aug. 14.Scentre Group said it now expects full-year 2026 FFO of at least AU$0.2379 per security and distribution of AU$0.18473. It previously expected 2026 FFO of at least AU$0.2373 per security and distribution of AU$0.1843 per security.
Scentre Group (ASX:SCG) agreed to sell Australian Retirement Trust (ART) a 50% interest in Brisbane's Westfield Mt Gravatt for AU$882.5 million, according to an Australian bourse filing on Monday after market hours.The deal comprises a 50% property interest being sold for AU$870 million at a 5.5% capitalization rate, plus a 50% interest in an adjacent sundry land priced at AU$12.5 million, with total proceeds representing a 3.5% premium to the December 2025 book value, per the filing.The company will retain the remaining 50% stake and continue as the property, leasing, and development manager, the filing said.The transaction is subject to ART securing clearance from the Australian Competition and Consumer Commission, the filing added.
Here are the five most actively traded big-cap stocks on the Australian Securities Exchange on Friday.EQ Resources (ASX:EQR): 10.9 million sharesLiontown Resources (ASX:LTR): 10.3 million sharesScentre Group (ASX:SCG): 10 million sharesZip (ASX:ZIP): 7.6 million sharesTelstra Group (ASX:TLS): 6.4 million shares
Scentre Group's (ASX:SCG) board approved an ordinary dividend of AU$0.09215 per share for the six months ended June 30, payable Aug. 31 to shareholders of record as of Aug. 14, according to a Monday filing with the Australian bourse.It declared a dividend of AU$0.08815 per share for the same period in the previous year, an earlier filing showed.Its shares fell nearly 1% in recent trading on Monday.
Scentre Group (ASX:SCG) completed its $1.31 billion tender offer for non-call subordinated notes due 2030, with about $1.17 billion successfully tendered, according to a Friday Australian bourse filing.The settlement is scheduled for May 5, after which the company plans to redeem the remaining notes at par, with liquidity expected to be around AU$3.2 billion post-redemption, per the filing.The company maintained its 2026 target for funds from operations of at least AU$0.2373 per security, reflecting a minimum 4% annual growth, and also expects distributions to increase by 4% to AU$0.1843 per security, the filing added.
Real estate stocks gained 0.2% in midday trading Tuesday, as almost all other sectors declined amid a continued rise in oil prices and lingering tensions between the US and Iran.Goodman Group (ASX:GMG) was up almost 1% and Scentre Group (ASX:SCG) was marginally higher.Meanwhile, utilities was the weakest sector with a decline of over 3%.Origin Energy (ASX:ORG) slid more than 5% after reporting Monday that its March quarter production fell to 164.5 petajoules from 167.1 petajoules a year earlier.
Scentre Group's (ASX:SCG) tender offer for all of its outstanding $1.3 billion of subordinated non-call 2030 notes could deliver a "significant potential earnings uplift," Jefferies said in a Thursday note, adding that the redemption of expensive hybrid debt would also eliminate a key overhang on the stock.While the notes are currently trading at a slight premium to par, Jefferies estimates upfront make-whole costs to be slightly lower than the roughly 20% level flagged earlier this year."Annualized interest cost savings from the make-whole of remaining subordinated hybrid notes will more than offset the upfront costs associated with redeeming them," the equity research firm said.Jefferies calculates 400 basis points of margin saving on the roughly AU$1.8 billion of debt through capital recycling, which it said would result in around 5% annualized accretion to its fiscal year 2026 funds from operations per share forecast.Jefferies maintained a buy rating on Scentre with a price target of AU$4.
Scentre Group (ASX:SCG) is deemed well-positioned for a high-inflation environment, supported by a lease structure where about 80% of specialty leases are linked to the consumer price index, Jefferies said in a Wednesday note.The company recently reported that its total business partner sales across its portfolio for the three months ended March 31 were up 5% compared with a year earlier, reaching AU$7 billion, driven by 5.3% growth in specialty sales.Portfolio occupancy stood at 99.8% as of March 31, up 20 basis points from the same period a year earlier.The company reaffirmed its fiscal-year target for funds from operations of at least AU$0.2373 per security, based on its operating performance in the first quarter, representing at least 4% growth, which Jefferies said is "commendable" considering the number of earnings headwinds this year.Headwinds include the dilution from partial stake sell-downs of Chermside and Sydney malls in fiscal 2025, the AU$240 million Westfield Bondi redevelopment, as well as lower project income expected from this year with 100%-owned Bondi, the financial services firm said.Jefferies upgraded its rating on Scentre Group to buy from hold and maintained its AU$4 price target.Scentre Group shares rose 1% in midday trade on Thursday.
Scentre Group (ASX:SCG) launched an "any and all" tender offer to repurchase its entire $1.31 billion of non-call 2030 subordinated notes, according to a Thursday Australian bourse filing.The company plans to fund the purchase of the notes through borrowings under its existing senior bank facilities, the filing added.
Scentre Group's (ASX:SCG) total business partner sales across its portfolio for the three months ended March 31 were up 5% compared with a year earlier, reaching AU$7 billion, driven by 5.3% growth in specialty sales, according to a Wednesday Australian bourse filing.The company reported total business partner sales across its portfolio for the three months ended March 31, 2025, of AU$6.7 billion, an earlier filing showed.The portfolio occupancy stood at 99.8% as of March 31, up 20 basis points from the same period a year earlier.Customer visitation across the company's 42 Westfield centers reached 160 million from the start of the year through April 19, representing a 3.1% increase compared with the year-earlier period.The company maintained its target for funds from operations of at least AU$0.2373 per security for 2026, based on its operating performance in the first quarter, representing at least 4% growth for the year.
