Buy Or Sell Opportunity • May 20
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 4.7% to AU$3.62. The fair value is estimated to be AU$4.56, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.0% over the last 3 years. Earnings per share has grown by 85%. For the next 3 years, revenue is forecast to decline by 4.0% per annum. Earnings are also forecast to decline by 5.2% per annum over the same time period. Buy Or Sell Opportunity • May 11
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 7.4% to AU$3.67. The fair value is estimated to be AU$4.60, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.0% over the last 3 years. Earnings per share has grown by 85%. For the next 3 years, revenue is forecast to decline by 4.0% per annum. Earnings are also forecast to decline by 5.2% per annum over the same time period. Announcement • Feb 11
Scentre Group Announces Estimated Fully Paid Ordinary Dividend for the Six Months Ended December 31, 2025, Payable on February 27, 2026 Scentre Group announced Estimated fully paid ordinary dividend of AUD 0.08905000 per share for the six months ended December 31, 2025. Ex Date: February 12, 2026. Record Date: February 13, 2026. Payment Date: February 27, 2026. Announcement • Feb 04
Scentre Group, Annual General Meeting, Apr 22, 2026 Scentre Group, Annual General Meeting, Apr 22, 2026. Announcement • Jan 29
Scentre Group to Report Fiscal Year 2025 Results on Feb 24, 2026 Scentre Group announced that they will report fiscal year 2025 results at 10:00 AM, AUS Eastern Standard Time on Feb 24, 2026 Announcement • Dec 23
Australian Retirement Trust Pty Ltd agreed to acquire 19.90% stake in Westfield Sydney from Scentre Group (ASX:SCG) for approximately AUD 870 million. Australian Retirement Trust Pty Ltd agreed to acquire 19.90% stake in Westfield Sydney from Scentre Group (ASX:SCG) for approximately AUD 870 million on December 23, 2025. Post the transaction Scentre Group will continue to own 80.1% of Westfield Sydney and will remain the property, leasing and development manager.
Settlement is expected in early February 2026. Announcement • Sep 17
Scentre Group Appoints Julie Coates as a Non-Executive Director of the Board, Effective, 1 October 2025 Scentre Group announced the appointment of Julie Coates as a non-executive Director of the Board, effective, 1 October 2025. Ms Coates will stand for election at the Group's 2026 AGM. Julie brings a diverse range of skills to the Board from her accomplished non-executive and executive career. Her broad experience including in retail and customer experience, building materials and consumer goods, will further strengthen and complement the Board's existing skills and expertise. Julie's most recent executive role was as Managing Director and Chief Executive Officer of CSR Limited. Prior to that she was Managing Director (Australia and New Zealand) of Goodman Fielder Limited. Julie also held positions at the Woolworths Group, including as Managing Director of Big W, Chief Logistics Officer and Human Resources Director, and was a member of the company's management board. She is currently a Non-executive Director of Wesfarmers Limited and a Director of the Green Building Council of Australia. Reported Earnings • Aug 27
First half 2025 earnings released: FFO per share: AU$0.1 (vs AU$0.11 in 1H 2024) First half 2025 results: FFO per share: AU$0.1 (up from AU$0.11 in 1H 2024). Revenue: AU$1.31b (up 2.9% from 1H 2024). Funds from operations (FFO): AU$586.6m (up 3.2% from 1H 2024). FFO margin: 45% (in line with 1H 2024). Revenue is expected to fall by 5.1% p.a. on average during the next 3 years compared to a 3.2% decline forecast for the Retail REITs industry in Australia. Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Announcement • Jul 23
Scentre Group to Report First Half, 2025 Results on Aug 26, 2025 Scentre Group announced that they will report first half, 2025 results on Aug 26, 2025 Announcement • Feb 12
Scentre Group to Report Fiscal Year 2024 Results on Feb 26, 2025 Scentre Group announced that they will report fiscal year 2024 results on Feb 26, 2025 Declared Dividend • Feb 12
First half dividend increased to AU$0.086 Dividend of AU$0.086 is 3.0% higher than last year. Ex-date: 13th February 2025 Payment date: 28th February 2025 Dividend yield will be 4.6%, which is lower than the industry average of 5.7%. Announcement • Feb 10
Scentre Group Announces Estimated Ordinary Dividend for the Six Months Ended December 31, 2024, Payable on February 28, 2025 Scentre Group announced estimated ordinary dividend of AUD 0.08600000 per security for the six months ended December 31, 2024. Record Date: February 14, 2025, Ex Date: February 13, 2025, Payment Date: February 28, 2025. Announcement • Jan 23
Scentre Group, Annual General Meeting, Apr 09, 2025 Scentre Group, Annual General Meeting, Apr 09, 2025. Buy Or Sell Opportunity • Jan 06
Now 20% overvalued The stock has been flat over the last 90 days, currently trading at AU$3.55. The fair value is estimated to be AU$2.95, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 5.2% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to decline by 13% in 2 years. Earnings are forecast to grow by 250% in the next 2 years. Recent Insider Transactions • Dec 27
CEO, MD & Executive Director recently sold AU$1.1m worth of stock On the 24th of December, Elliott Chaim Rusanow sold around 329k shares on-market at roughly AU$3.49 per share. This transaction amounted to 14% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Elliott Chaim's only on-market trade for the last 12 months. Announcement • Oct 14
Scentre Group Appoints Craig Mitchell as Non-Executive Director, Effective 14 October 2024 Scentre Group announced the appointment of Craig Mitchell as a non-executive Director of the Board, effective, 14 October 2024. Craig has more than 25 years of experience in the property industry spanning retail, construction, development and funds management, which will complement and build on the skills of the Board. He has previously held executive leadership roles at Grocon and Dexus. Craig is currently Global Chief Executive Officer of Northwest Healthcare Properties REIT, a role from which he will step down in mid-2025. Craig will be an independent non-executive Director and will stand for election at the Group's 2025 AGM. Reported Earnings • Aug 22
First half 2024 earnings released: FFO per share: AU$0.1 (vs AU$0.11 in 1H 2023) First half 2024 results: FFO per share: AU$0.1 (up from AU$0.11 in 1H 2023). Revenue: AU$1.28b (up 2.1% from 1H 2023). Funds from operations (FFO): AU$568.2m (up 2.1% from 1H 2023). FFO margin: 45% (in line with 1H 2023). Revenue is forecast to stay flat during the next 3 years, in line with the revenue forecast for the Retail REITs industry in Australia. Over the last 3 years on average, earnings per share has fallen by 42% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Declared Dividend • Aug 14
Final dividend increased to AU$0.086 Dividend of AU$0.086 is 4.2% higher than last year. Ex-date: 15th August 2024 Payment date: 30th August 2024 Dividend yield will be 5.0%, which is lower than the industry average of 5.7%. Announcement • Jul 08
Scentre Group to Report First Half, 2024 Results on Aug 21, 2024 Scentre Group announced that they will report first half, 2024 results on Aug 21, 2024 Announcement • Jun 22
Scentre Joins Investment Bank for Stake in Tea Tree Plaza The owner of the local Westfield empire, Scentre Group (ASX:SCG), has teamed up with investment bank Barrenjoey to buy a half stake in Adelaide's Westfield Tea Tree Plaza and a small adjoining centre for about $308 million. The deal marks a shift by the large mall owner, which has traditionally worked with big institutions to buy malls. By joining with the bank it is now tapping private capital that wants to directly own shopping centres, opening up a new pool of investors. The transaction also shows that large institutions that own malls are seeing value in them, following a fall in values triggered by higher interest rates and Covid-19. Scentre and Barrenjoey made their move on the stake in the mall in April by launching an unlisted trust to own a half interest in the property, Adelaide's second largest mall. Their surprise move effectively thwarted a transaction that would have resulted in acquisitive funds house IP Generation purchasing the stake in the mall from the Dexus-managed fund selling it. The move not only signals Scentre's entry into funds but this is expected to continue as more centres come up given the offer was oversubscribed. The deal also shows the large pricing recalibration of regional shopping centre assets since the boom times before the pandemic. Scentre Group Chief Executive Elliott Rusanow said the group had successfully partnered with Barrenjoey Private Capital to establish a fund to purchase a 50% share in Westfield Tea Tree Plaza and the adjoining Tea Tree Plus. "The opportunity was oversubscribed, reflecting the strong demand from private investors to invest directly into one of our Westfield destinations," he said. "The group has retained its 50% interest and will continue to drive the strong operating performance of the centre." A Dexus spokesman confirmed the sale of the centre as part of the fund's proactive capital management strategy. The unlisted vehicle has been selling down assets to meet redemptions. CBRE agent Simon Rooney negotiated the deal for the Dexus-managed fund as institutional and private capital flows back into the regional shopping centre market. The acquisition comes just weeks after the announcement of Vicinity Centre's agreement with the Future Fund to acquire its 50% interest in Lakeside Joondalup, Western Australia, with additional major retail transactions expected to be completed in coming months. Reported Earnings • Feb 22
Full year 2023 earnings released: EPS: AU$0.034 (vs AU$0.058 in FY 2022) Full year 2023 results: EPS: AU$0.034 (down from AU$0.058 in FY 2022). Revenue: AU$2.51b (up 2.1% from FY 2022). Net income: AU$174.9m (down 42% from FY 2022). Profit margin: 7.0% (down from 12% in FY 2022). Revenue is expected to decline by 1.6% p.a. on average during the next 3 years, while revenues in the Retail REITs industry in Australia are expected to grow by 1.3%. Over the last 3 years on average, earnings per share has increased by 77% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Declared Dividend • Feb 14
First half dividend of AU$0.084 announced Shareholders will receive a dividend of AU$0.084. Ex-date: 15th February 2024 Payment date: 29th February 2024 Dividend yield will be 5.4%, which is lower than the industry average of 5.7%. Announcement • Jan 30
Scentre Group to Report Fiscal Year 2023 Results on Feb 21, 2024 Scentre Group announced that they will report fiscal year 2023 results at 9:00 AM, AUS Eastern Standard Time on Feb 21, 2024 Announcement • Jan 19
Scentre Group, Annual General Meeting, Apr 04, 2024 Scentre Group, Annual General Meeting, Apr 04, 2024. Reported Earnings • Aug 24
First half 2023 earnings released: FFO per share: AU$0.1 (vs AU$0.11 in 1H 2022) First half 2023 results: FFO per share: AU$0.1 (up from AU$0.11 in 1H 2022). Revenue: AU$1.25b (up 6.3% from 1H 2022). Funds from operations (FFO): AU$556.6m (up 1.5% from 1H 2022). FFO margin: 45% (down from 47% in 1H 2022). Revenue is forecast to decline by 1.1% p.a. on average during the next 3 years, while revenues in the Retail REITs industry in Australia are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 105% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Announcement • Jul 24
Scentre Group to Report First Half, 2023 Results on Aug 22, 2023 Scentre Group announced that they will report first half, 2023 results on Aug 22, 2023 Announcement • May 13
Scentre Group Provides Dividend Guidance for the Year 2023 Scentre Group announced that distributions are expected to be at least 16.50 cents per security for 2023, representing at least 4.8% growth for the year. Recent Insider Transactions • Mar 22
Independent Non-Executive Director recently bought AU$71k worth of stock On the 20th of March, Michael Wilkins bought around 25k shares on-market at roughly AU$2.82 per share. This transaction amounted to 25% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth AU$147k. Insiders have collectively bought AU$450k more in shares than they have sold in the last 12 months. Recent Insider Transactions • Mar 04
Independent Non-Executive Director recently bought AU$147k worth of stock On the 2nd of March, Ilana Atlas bought around 50k shares on-market at roughly AU$2.94 per share. This transaction amounted to 62% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought AU$379k more in shares than they have sold in the last 12 months. Reported Earnings • Feb 22
Full year 2022 earnings released: EPS: AU$0.058 (vs AU$0.17 in FY 2021) Full year 2022 results: EPS: AU$0.058 (down from AU$0.17 in FY 2021). Revenue: AU$2.46b (up 7.8% from FY 2021). Net income: AU$300.6m (down 66% from FY 2021). Profit margin: 12% (down from 39% in FY 2021). Revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 2.3% growth forecast for the REITs industry in Australia. Over the last 3 years on average, earnings per share has increased by 67% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Announcement • Feb 13
Scentre Group Announces Estimated Ordinary Dividend for the Period of Six Months Ended December 31, 2022, Payable on February 28, 2023 Scentre Group announced estimated ordinary dividend on ordinary stapled securities for the period of six months ended December 31, 2022. For the period the company announced dividend of AUD 0.08250000 with Record Date 17 February, 2023; Ex Date of 16 February, 2023 and Payment Date to be 28 February, 2023. Announcement • Jan 16
Scentre Group to Report Fiscal Year 2022 Results on Feb 22, 2023 Scentre Group announced that they will report fiscal year 2022 results on Feb 22, 2023 Recent Insider Transactions • Nov 16
Independent Non-Executive Director recently sold AU$58k worth of stock On the 7th of November, Andrew Harmos sold around 20k shares on-market at roughly AU$2.88 per share. This transaction amounted to 14% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Despite this recent sale, insiders have collectively bought AU$232k more than they sold in the last 12 months. Board Change • Nov 16
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Independent Non-Executive Director Steve McCann was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Nov 11
Independent Non-Executive Director recently sold AU$58k worth of stock On the 7th of November, Andrew Harmos sold around 20k shares on-market at roughly AU$2.88 per share. This transaction amounted to 14% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Despite this recent sale, insiders have collectively bought AU$232k more than they sold in the last 12 months. Board Change • Nov 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. CEO, MD & Executive Director Elliott Chaim Rusanow was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Board Change • Oct 07
High number of new directors There are 5 new directors who have joined the board in the last 3 years. CEO, MD & Executive Director Elliott C. Rusanow was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Aug 30
Independent Non-Executive Director recently bought AU$290k worth of stock On the 26th of August, Catherine Brenner bought around 100k shares on-market at roughly AU$2.90 per share. This trade did not impact their existing holding. This was the largest purchase by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Reported Earnings • Aug 24
First half 2022 earnings released: EPS: AU$0.093 (vs AU$0.077 in 1H 2021) First half 2022 results: EPS: AU$0.093 (up from AU$0.077 in 1H 2021). Revenue: AU$1.18b (up 8.8% from 1H 2021). Net income: AU$479.8m (up 20% from 1H 2021). Profit margin: 41% (up from 37% in 1H 2021). Over the next year, revenue is forecast to grow 5.3% compared to a 24% decline forecast for the REITs industry in Australia. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Board Change • Apr 02
High number of new directors Independent Non-Executive Director Catherine Brenner was the last director to join the board, commencing their role in 2022. Reported Earnings • Feb 24
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: EPS: AU$0.17 (up from AU$0.72 loss in FY 2020). Revenue: AU$2.28b (up 5.5% from FY 2020). Net income: AU$887.9m (up AU$4.62b from FY 2020). Profit margin: 39% (up from net loss in FY 2020). The move to profitability was primarily driven by lower expenses. Revenue exceeded analyst estimates by 3.2%. Over the next year, revenue is forecast to grow 10% compared to a 25% decline forecast for the reits industry in Australia. Over the last 3 years on average, earnings per share has fallen by 51% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Reported Earnings • Aug 26
First half 2021 earnings released: FFO AU$0.089 per share (vs AU$0.069 in 1H 2020) The company reported a decent first half result with improved earnings and profit margins, although revenues were weaker. First half 2021 results: Revenue: AU$1.08b (down 1.2% from 1H 2020). Funds from operations (FFO): AU$463.4m (up 28% from 1H 2020). FFO margin: 43% (up from 33% in 1H 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 86 percentage points per year, which is a significant difference in performance. Is New 90 Day High Low • Dec 08
New 90-day high: AU$2.95 The company is up 34% from its price of AU$2.20 on 09 September 2020. The Australian market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the REITs industry, which is up 12% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is AU$3.66 per share. Is New 90 Day High Low • Nov 06
New 90-day high: AU$2.38 The company is up 24% from its price of AU$1.91 on 07 August 2020. The Australian market is up 4.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the REITs industry, which is up 14% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is AU$3.74 per share. Is New 90 Day High Low • Oct 13
New 90-day high: AU$2.33 The company is up 8.0% from its price of AU$2.15 on 15 July 2020. The Australian market is up 5.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the REITs industry, which is up 11% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is AU$3.87 per share. 