What Does Scentre Group Do?
Scentre Group [ASX:SCG] manages and owns, or at least has an interest in, 47 shopping centres across Australia and New Zealand.
According to the group’s website, Scentre was created on 30 June 2014 through the merger of Westfield Retail Trust and Westfield Group’s Australian and New Zealand management business. The property portfolio is now valued at over $40 billion.
What’s Happening to the Scentre Group Share Price?
Here is a daily chart of the stock…
You can see since last year the stock has appreciated but has been tracking mostly sideways lately. At the time of writing it’s trading at $3.70.
What Now for Scentre Group?
Kris Sayce, editor of Tactical Wealth, recently researched the stock. He said, ‘Scentre has some of Australia’s highest performing malls in its portfolio. In fact, Scentre has exposure to 14 out of the top 20 highest annual turnover malls.
‘Having access to the top performing centres is good news, but in this business, occupancy rates are more important. The occupancy rate for Scentre Group is greater than 99.5%.’
If you’d like to know more about the opportunities Kris is researching, start here.
Editor, Markets and Money