Image: Canva.
  • The market closed up 0.28% at 7,116.70 points
  • Multiple changes of the guard were made
  • Mixed results were seen in the residential development sector

The half yearly reports have started to dry up, with mixed results announced from residential developers.

The broader market

The ASX200 closed today at 7,116.70 points, up 20.20 points or 0.28%. This comes as the market lost 0.80% in the first hour of trading or 54.3 points, quickly recovering before lunch.

Image: Google.

Top-performing ASX listed real estate company shares: [DD Month] 2021

Company Code Price ($) Change (%)
Aspen APZ 1.725 +4.55
Victory Offices VOL 0.115 +4.55
Acumentis ACU 0.15 +3.45
Finbar FRI 0.81 +2.53
United Overseas Australia UOS 0.665 +2.31

Source: ASX

In addition to the top performers, the bottom five (from fifth lowest to lowest) were:

Least-performing ASX listed real estate company shares: [DD Month] 2021

Company Code Price ($) Change (%)
The Agency AU1 0.041 -4.65
AV Jennings AVJ 0.56 -5.08
Unibail-Rodamco-Westfield URW 4.87 -5.80
Proptech Group PTG 0.45 -7.22
McGrath MEA 0.545 -8.40

Source: ASX

The movement

Monday saw news from BWP Trust (ASX: BWP), Erich Fraunschiel announced his retirement as a director of BWP Management Limited. He had been a board member and chairman since 2015. Tony Howarth AO will succeed Mr Fraunschiel as chairman of the board.

Victory Offices (ASX: VOL) announced its half year results, the company generated $7 million in revenue from flexible workspaces, up from $6.6 million for the previous corresponding period.

Occupancy has bounced back, VOL’s consolidated Victorian occupancy rates were 45% from a low of 20% during lockdown, with two of its centres recording occupancy over 80%. Across NSW, average occupancy was 65%, WA was 60% and QLD 48%.

Waypoint REIT (ASX: WPR) recorded a statutory net profit of $443.6 million, compared with $279.9 million in FY20, up 58.5%. Distributable earnings per share rose 4.25% to 15.80 cents, and net tangible assets per security were $2.95, up 18.5%.

Australian Unity Office Fund (ASX: AOF) reported reduced revenue and profit for the half year. Revenue was $23.846 million, down from $24.157 million in the previous corresponding period, and profit was $6.834 million, down from $20.109 million. Net tangible assets also moved down, now $2.67 per security compared to $2.77.

AIMS Property Securities Fund (ASX: APW) reported revenues were up 11.06% to $753 million, income also moved up, now $1.752 million.

Centuria Capital Group (ASX: CNI) announced the appointment of CNI independent non-executive director Susan Wheeldon as chair of the Group Remuneration and Nominations Committee.

Irongate (ASX: IAP) announced the completion of its 16 Aspiration Circuit acquisition in Bibra Lake, WA. The purchase was announced in early December last year, the property was acquired for $26 million from Desmar Holdings.

Mustera (ASX: MPX) announced increased revenue, the company reported $1.627 million in revenue for the previous period, HY22 saw $2.555 million. The company made a loss after tax of $943,000 in the previous period, this period saw a loss of $1.235 million.

On Tuesday, Land & Homes Group (ASX: LHM) released its half year results, the company reported reduced revenues of $41,472, as compared to $213,926 in the previous corresponding period. Losses were also made, for HY21 the company made a loss of $1,035,024, for HY22 the company made a loss of $1,148,495.

Eureka (ASX: EGH) issued a statement regarding the wild weather event in Queensland and New South Wales, the company said that “While the full impact of the flood event is yet to be assessed, preliminary indications are that the villages in the South-East Qld region have not been significantly impacted.”

“Residents remain in their villages and the community and dining rooms remain fully operational.”

Eureka’s Lismore property, however, was inundated by the floods, with residents and staff evacuated. Eureka said: “The full impact of the flood event on this property is not able to be assessed at this stage.”

“The property has limited insurance for flood damage due to its Lismore location. It is possible that the loss of income and cost to rectify the damage may exceed the insured amount. Prior to this event, the property’s book value was $7 million and its expected contribution to Eureka’s forecast underlying-EBITDA for FY22 was circa $0.875 million. Investigations will commence to determine the impact of the flood as soon as it is practicable to do so.”

Dexus Industria REIT (ASX: DXI) and Dexus Convenience Retail REIT (ASX: DXC) announced the change of address, fax, and telephone details effective from Tuesday, 1 March 2022. The registered office is Australia Square, Level 25, 264-278 George Street, Sydney, NSW, 2000, and the principal place of business is Level 5, 80 Collins St (South Tower), Melbourne, Vic, 3000.

The company will no longer have a fax number, the new telephone number is +61 3 8611 2900.

Centuria Office REIT (ASX: COF) announced the appointment of Six Elizabeth McDonald as an independent non-executive director and member of the CPFL Audit, Risk and Compliance Committee, effective 1 March 2022.

Boyuan Holdings (ASX: BHL) appointed BHL COO, Paul Hourigan, as the new executive director.

360 Capital Group (ASX: TGP) announced the confirmation of James Storey as CEO and the change of roles of Tony Pitt from managing director to executive chairman.

That’s the latest in ASX listed real estate companies, closing out a very parched season of admin.

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