charter hall secret harbour shop front bottle of water pouring old couple retired
Image – Charter Hall, Canva.
  • The ASX hit new highs, trading over 7,400 points
  • Ingenia featured in top five overall performers
  • Four acquisitions were made

Today marks exactly two weeks left until the end of the financial year, and also marks the middle of the week – time for the mid-week ASX listed real estate wrap.

The week started with companies displaying an insatiable appetite for acquisitions, count four in total, $290.45 million is the collective purchase price for the properties placed around Australia.

One company settled its acquisition from May, in a suburb that had an unprecedented 0% residential vacancy rate.

The broader market

The ASX 200 closed at 7,386.20 points today.

asx-mid-week-16-june-2021-chart
Image – Google.

It has been a steady rise in recent weeks where the market has seen no ends to what seems now perfectly normal.

Yesterday, the ASX 200 crept ever so close to 7,400, the market high was recorded as 7,398.60.

Today, however, the market topped out at 7,406.20 just after lunch, dropping back again after a heavy meal, or perhaps anticipation about what the US Fed meeting outcome may be, nonetheless slight discomfort in the stomach this afternoon.

Markets were again propped up by energy, oil stocks prices were responsible.

The top five overall performers included one real estate company, Ingenia Communities Group (ASX: INA). Another notable company is Costa Group Holdings, Vitalharvest (ASX: VTH) leases its farms to the company.

At close today, the top-performing real estate companies are:

Top-performing ASX listed real estate companies

Company Code Price Change (%)
Ingenia INA 6.09 +2.87
Sunland Group SDG 2.47 +2.49
Growthpoint GOZ 4.07 +2.01
ALE Property LEP 4.69 +1.96
Charter Hall Retail CQR 3.94 +1.55

Source: ASX

The movement

First off the rank is the dividends/distributions announcements so far this week.

Six companies made such announcements this week, Garda Property (ASX: GDF) will pay out 1.8 cents per security on 15 July, Charter Hall Group (ASX: CHC) is 19.31 cents for 31 August, Goodman Group (ASX: GMG) 15 cents for 26 August, Qualitas (ASX: QRI) 0.8176 cents on 17 June, HomeCo Daily Needs REIT (ASX: HDN) 1.8237 cents on 16 August, and Charter Hall Retail (ASX: CQR) 12.7 cents on 31 August.

National Storage (ASX: NSR) has now kicked off its retail offer at $2.00 per security. The institutional offer was completed earlier this month, bringing in $260 million.

Tuesday news, since most of the country celebrated a long weekend except Western Australia and Queensland, continued with REA Group (ASX: REA) acquiring 34% of mortgage tech company, Simpology. The $15 million deal follows other news earlier in June of the divestment of its Malaysian and Thai portals to PropertyGuru, REA subsequently took an 18% stake in PropertyGuru.

Irongate (ASX: IAP) continued the Tuesday movements with news it acquired 38 Sydney Avenue in Canberra. The office property is 500 metres from Parliament House and is currently leased to government tenants.

The company also launched a raising round to fund the acquisition, successfully completing the round a day later to the tune of $50 million.

Finally for Tuesday news, Land & Homes Group (ASX: LHM) sold its Wharf Street, Queensland, property for $19.5 million.

Today, ASX listed real estate kicked off to news that Aspen (ASX: APZ) settled its $2.4 million Strathalbyn acquisition from May.

Not particularly remarkable until you look at the figures. The vacancy rates for the area is 0.0%. Unsurprisingly, the rent is also particularly high; it is only $8 less than the rent in Adelaide.

SCA Property Group (ASX: SCP) made an acquisition today, the company purchased Marketown in Newcastle for $150.5 million with an implied fully let yield of 6.1%.

Finally today, Charter Hall Retail REIT (ASX: CQR) posted the latest portfolio valuations figures, now up $143 million to a total of $3.647 billion.

CQR also purchased a $51.2 million shopping centre in Western Australia, Butler Central Shopping Centre is located next to Butler train station, and is anchored by Woolworths.

That brings the mid-week wrap of ASX listed real estate companies to a close, where it was, overall, a positive week for the hard-hit retail and office property sub-sectors, and reminded the world that loose lips sink stock markets, simply choosing health over wealth can too.

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