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Peet sold 250 hectares of land in Queensland for $80 million. Image: Canva.
  • The market closed today at 7,437.10 points, up 0.64% from yesterday
  • Strongest real estate companies included ARF and COF
  • Peet sold 250 hectares for $80M in Queensland

As 2022 kicked off, the market opened at 7,589.80. That high quickly disappeared, two days later the market dipped to 7,358.30, and is now fluctuating around 7,400.

Listed real estate companies are fairly quiet so far, with most news coming from Peet (ASX: PPC), including one sale and one acquisition.

The broader market

The ASX200 closed today at 7,437.10 points, up 0.64% from yesterday, down 0.2% for the week so far, and down 1.70% for the last five days. The market still sits 2.56% below its 52 week high.

asx-mid-week-12012022
Image: Google.

Top-performing ASX listed real estate company shares: 12 January 2021

Company Code Price ($) Change (%)
Arena REIT ARF 4.83 +2.99
Centuria Office REIT COF 2.295 +2.00
Domain DHG 5.12 +1.99
US Masters Residential Property Fund URF 0.325 +1.56
Eleanor Retail Property Fund ERF 1.115 +1.36

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: 12 January 2021

Company Code Price ($) Change (%)
Ultima United UUL 0.43 -1.15
Lifestyle Communities LIC 18.64 -1.27
United Overseas Australia UOS 0.66 -1.49
Dexus DXS 10.70 -2.46
McGrath Limited MEA 0.58 -2.52

Source: ASX

The movement

On 5 January Qualitas (ASX: QRI) announced its estimated unaudited net tangible asset per unit as at December 31 2021 as $1.6004.

The next day, SCA Property Group (ASX: SCP) announced a distribution of 7.20 cents per security for the period from July 1 2021 to 31 December 31 2021. With 1.1102 billion SCP units on issue, the total distribution amount comes to $79.9 million.

Also on the 6th, Peet (ASX: PPC) announced an interest payment for PPCHB, the amount coming to $1.1626 per security.

Peet also announced the sale of land, and provided some clarification for the sale. The company confirmed that the counterparty to the sale of 250 hectares of broadacre land in New Beith, Queensland for circa $80 million is Frasers Property New Beith Pty Ltd, as trustee for Frasers Property New Beith Trust.

New Beith is located in the City of Logan, 40km north of Brisbane’s CBD.

The settlement of the unconditional sale is scheduled to occur during the first half of FY23.

On 7 January, Hotel Property Investments (ASX: HPI) announced its preliminary valuations for December 2021, indicating a net fair value increase of approximately $102 million, or 9.5% of book values to $1.175 billion.

In a breakdown, the uplift represents 53 cents per stapled security, the company said it is primarily due to a tightening of the WACR from 5.9% to 5.4%, reflecting recent pub market transactions and HPI’s pub refurbishment program.

Today, Lifestyle Communities (ASX: LIC) announced that it will release its half-year results on Tuesday February 15 2022.

Finally, US Masters Residential Property Fund (ASX: URF) announced the distribution reinvestment plan price in relation to the convertible step-up preference unit (URFPA) distribution for the period ending December 31 2021 is 30 cents per fully paid ordinary unit.

Meetings and distributions

Distributions/Dividends announced:

Company Code Amount
SCA Property Group SCP $0.072
Peet (bond interest) PPCHB $1.1626
US Masters Residential Property Fund* URF $0.30

* See URF for more details regarding the distribution reinvestment plan and convertible step-up preference unit.

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