Image: Canva.
  • Market closed 7,139.30 today
  • A quiet day saw an auditor appointed
  • Joel Fitzgibbon has been appointed to the board of Brickworks board

Today was an uneventful day for ASX-listed real estate companies, with a change in auditor for HMC Capital, and the appointment of a non-executive director to the Brickworks board.

The broader market

The ASX200 closed today at 7,139.30 points, down 12.50 points or 0.17%.

Source: Google.

The top five gains were led by the energy sector, with the bottom five declines including Nanosonics (ASX: NAN), Healius (ASX: HLS), Novonix (ASX: NVX), Block (AS: SQ2), and Fortescue (ASX: FMG).

Top-performing ASX listed real estate company shares: [DD Month] 2022

Company Code Price ($) Change (%)
AGL Energy AGL 7.83 +3.571
Liontown Resources LTR 2.04 +3.553
Whitehaven Coal WHC 8.45 +3.174
Kelsian Group KLS 5.33 +2.895
Karoon Energy KAR 2.33 +2.643

Source: ASX

The movement

Beginning with news from Tuesday last week, 15 November, Peter Huddle was appointed as acting Chief Executive Officer of Vicinity Centres (ASX: VCX) while the company looks for a replacement for its outgoing CEO, Grant Kelley.

A special dividend of 60 cents per share was announced for shareholders of Sunland Group (ASX: SDG). The dividend will be fully franked and paid 7 December 2022.

AMP Limited (ASX: AMPprovided an update on the completion timeline for the sale of the Collimate Capital domestic infrastructure equity and real estate business to Dexus Funds Management and the sale of the international infrastructure equity business to DigitalBridge Group.

AMP said that significant progress has been made on both transactions. AMP also said The regulatory approval processes associated with both sales are ongoing, with the result that the transactions may not complete by the end of November 2022.

Dexus (ASX: DXS) released a statement in response, confirming that significant progress had been made by both Dexus and AMP towards satisfying all conditions precedent for the transaction.

Several AGMs were held across the week, for more information see here.

Shanna Souter was appointed Chief Financial Officer of AV Jennings (ASX: AVJ), Jennings. AV Jennings’ CEO and MD, Phillip Kearns, AM, said “Shanna has a strong track record of transformation, stakeholder management and building high performing teams which will fit in very well with the Company’s ambition and strategic direction. We look forward to welcoming Shanna to the AV Jennings team.”

On Wednesday, 16 November, building products company CSR Limited (ASX: CSR) announced the retirement of Christine Holman as a non-executive director. The retirement was effective as of the date of the announcement, 16 November. Holman has been a non-executive director of CSR since 2016.

On Thursday, The Agency Group (ASX: AU1) announced its strategic alliance with MDC Trilogy.

The strategic alliance will see the companies work together, with The Agency managing property management assets purchased and owned by MDC Trilogy.

It will also facilitate all sales agents and team members of businesses purchased by MDC Trilogy to join The Agency; it was noted in a press release that this will provide a significant mechanism for market share growth.

Read more here.

The Agency also provided a trading update on Friday, the company announced a gross commission income of $30.8 million in the four months to 31 October 2022. This is down from the previous corresponding period where the company saw GCI at $34.2 million.

The number of properties sold was marginally down, 1,861 properties sold for the current period, with the previous corresponding period 1,878 properties. The value of properties sold was down, $1.7 billion for the four months to 31 October 2022, and $2 billion for the four months to 31 October 2021.

The number of agents with The Agency rose to 415 from 340, with listings also rising, up to 2,152, from 2,072.

Today, Home Consortium, trading as HMC Capital (ASX: HMC) advised that KPMG has been appointed as auditor of HMC Capital, effective from the date of the announcement. The change follows the resignsation of PwC as auditor of HMC Capital.

Finally, for today, Brickworks (ASX: BKW) announced the appointment of Joel Fitzgibbon as an independent non-executive Director to the Brickworks Board. Chairman of Brickworks, Robert Millner, said: “We are very pleased to welcome Joel Fitzgibbon to the Brickworks Board. He brings to our Board considerable expertise in public policy, social and environmental issues and is an ideal appointment for Brickworks in managing its multiple stakeholders and regulatory expectations.”

Key terms of Mr Fitzgibbon’s appointment are as follows:

  • Role: Non-executive director, Brickworks Limited
  • Commencement date: 1 January 2023, with no fixed term
  • Remuneration: A fixed cash remuneration package of $160,839 per annum, inclusive of superannuation.

The other terms of Mr Fitzgibbon’s appointment are consistent with an engagement of this type, said Brickworks.

That’s the latest in ASX-listed real estate companies.

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