Scentre Group (ASX: SCG)

Long term potential: Real Estate Stock, SCG slipped by 2% on February 13, 2018 as the group traded ex-dividend. SCG had lately announced the dividend amount of AUD 0.10870000 and this will be paid on February 28, 2018. The Group will announce its results for the year ended 31 December 2017 on 21 February 2018. With regards to credit rating update in December 2017, the Group stated that the debt capital market investors consider Moody’s “A2” long term rating to be equivalent to the Group’s existing “A” long term rating from Standard & Poor’s Rating Services. Thus, the Group considers that the move to a Moody’s A2 rating will have no adverse impact on its cost of funds. SCG also maintains its guidance for a full year growth in funds from operations (FFO) of approximately 4.25%. The distribution guidance of 21.73 cents per security is also maintained. It has otherwise highlighted about $80 million cinemas and restaurants (SCG share: $40m) expansion at Westfield Whitford City. All the active developments are progressing well.The share prices decreased by over 4% in last one month, as at February 12, 2018; but given the long-term potential and dividend sustainability, we maintain a “Buy” on SCG at the current price of $3.83
 

Retail Sales Trend (Source Company Reports)

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