4 ASX 200 REITs Catching Eyes on Wednesday

The earnings season has kicked into high gear, with a plethora of results flooding the market and offering a mixed bag of performances from property companies within the ASX 200 REIT sector. Let's delve into the highlights of four key players and how they fared during this reporting period.


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1. Scentre Group (ASX: SCG)

In contrast, the Scentre share price experiences a 2% rise, reaching $3.04. The shopping centre operator disclosed its full-year results, boasting a 2% revenue increase to $2,510.3 million and a significant 16.7% surge in profit after tax, reaching $1,069 million. Notably, Scentre welcomed 512 million customer visits to its Westfield destinations in 2023, with business partners achieving impressive sales of $28.4 billion. As a gesture to investors, Scentre is set to distribute a final dividend of 8.35 cents per share.

2. National Storage REIT (ASX: NSR)

National Storage share price encounters a 0.5% dip, resting at $2.31. As a self-storage provider, it reported a noteworthy 6% uptick in underlying earnings per share, reaching 5.6 cents. The positive result prompts the company to affirm its FY 2024 underlying earnings per share guidance, aiming for at least 11.3 cents. Management also emphasizes its commitment to distributing 90% to 100% of underlying earnings throughout the year.

3. Charter Hall Group (ASX: CHC)

The Charter Hall share price is navigating a modest 0.5% decrease, settling at $12.01. The property company revealed operating earnings of $195.1 million, translating to operating earnings per share of 41.2 cents. This aligns closely with market expectations, enabling management to reiterate its guidance for FY 2024 operating earnings per share at an impressive 75 cents. Investors can also anticipate an interim distribution of 22.1 cents per share.

4. Stockland Corporation Ltd (ASX: SGP)

The Stockland share price marks a 0.5% uptick, closing in at $4.63. Following the release of its half-year results, Stockland reported a statutory profit of $102 million, a decrease from $301 million in the previous year. Additionally, the funds from operations (FFO) amounted to $266 million, down from $353 million in the corresponding period. This variance is attributed to a substantial skew in Masterplanned Communities (MPC) settlement volumes toward the second half of the year. Despite this, Stockland is committed to providing investors with a first-half distribution per share of 8 cents.

In Conclusion: Navigating the Terrain of REIT Sector Results

As the ASX 200 REIT sector unveils a diverse set of results, investors are presented with both challenges and opportunities. Understanding the nuances of each company's performance and their strategic outlooks is crucial for making informed investment decisions in this ever-evolving market landscape.
Location: Australia

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