asx-mid-week-wrpa-2-6-feature
Image – Canva, HomeCo.
  • Market at new highs, closing at 7,217.80
  • MAFM offered $1.295 for Vitalharvest
  • HDN and CIP valuations up many-fold

Winter chills and market thrills as the ASX hits new highs.

The broader market

Market confidence is at incredible levels as economic booms send the ASX up 1.05% higher, the market closed at 7,217.80.

asx-mid-week-wrpa-2-6-2021
Image – Google.

Poultry company, Ingham Group (ASX: ING) continues to be a top performer, today the company ranked as the strongest performer.

The remainder of the top five did not include property or real estate companies.

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

Top-performing ASX listed real estate companies

Company Code Price Change (%)
CSR Limited CSR 6.05 +5.03
Elanor ECF 1.11 +4.23
The Agency AU1 0.052 +4.00
Scentre Group SCG 2.79 +3.72
Mirvac MGR 2.90 +3.57

Source: ASX

The movement

The last day of May and the first day of trading kicked off with news HomeCo Daily Needs REIT (ASX: HDN) valuations had increased by 6.5% or $84.7 million.

Yet to be audited, the valuations increase takes total portfolio value to $1.384 billion, with the net valuation also increasing by 4.7%.

REA Group (ASX: REA) news followed, the listings company announced its Malaysian and Thai businesses were divested to PropertyGuru, REA Group subsequently gained an 18% stake in PropertyGuru, allowing them to appoint a Director to the board.

The transaction will be worth circa $10 million.

Domain (ASX: DHG) also announced on Monday that it was no longer pursuing the PEXA purchase. This follows the event that Domain was “notified that a sale process is no longer being pursued.”

Affordable rental and holiday accommodation company Ingenia (ASX: INA) announced it launched a residential funding platform for land lease communities. The company worked with fintech startup Land Lease Home Loans following an extensive search.

Finally, for Monday, Dexus (ASX: DXS) settled its $285 million Eagle St property in Brisbane.

On Tuesday, Centuria Industrial REIT (ASX: CIP) released valuations details of its portfolio. 61 properties strong, the valuations increased by almost $300 million again, the portfolio now worth $2.9 billion. The increase was $285 million or 11%, NTA is also up by 16% to $3.85. Share values jumped to $3.71 at one point, but currently, CIP is trading at around $3.60.

Rural Funds Group (ASX: RFF) issued 2.8 cents per security in dividends, and all three resolutions passed with more than 90% of votes at the recent Victory Offices (ASX: VOL) general meeting.

Today saw Peet (ASX: PPC) announce Series 1, Tranche 1 Peet Bonds will be suspended from trading. The final interest payment is $3.5548 per bond and redemption of $100 per bond. Last week, PPC conducted raising efforts to make funds available for the maturation of these bonds.

Finally, Vitalharvest (ASX: VTH) returned to the headlines today when Macquarie Agricultural Funds Management (MAFM) once again revised its unit price offering.

Now sitting at $1.295 per VTH unit, the MAFM offer is half a cent more than the previous offer from Roc Private Equity. Furthermore, VTH said it “does not consider the Roc indication that it intends to overbid any further offer by MAGM by the equivalent of $0.01 per unit to be a legally binding offer.”

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