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Scentre Group

OTCPK:STGP.F
Snowflake Description

Average dividend payer and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
STGP.F
OTCPK
A$21B
Market Cap
  1. Home
  2. US
  3. Real Estate
Company description

Scentre Group (ASX Code: SCG) is the owner and operator of Westfield in Australia and New Zealand with interests in 41 centres, encompassing approximately 11,500 outlets and total assets under management of $54.2 billion. The last earnings update was 95 days ago. More info.


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STGP.F Share Price and Events
7 Day Returns
5.3%
OTCPK:STGP.F
-0.3%
US REITs
-2.1%
US Market
1 Year Returns
-9.9%
OTCPK:STGP.F
13.8%
US REITs
1.3%
US Market
STGP.F Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Scentre Group (STGP.F) 5.3% -0.6% - -9.9% -17.3% -
US REITs -0.3% 2.4% 3.2% 13.8% 11.3% 25.6%
US Market -2.1% -4.2% 0% 1.3% 33.5% 38%
1 Year Return vs Industry and Market
  • STGP.F underperformed the REITs industry which returned 13.8% over the past year.
  • STGP.F underperformed the Market in United States of America which returned 1.3% over the past year.
Price Volatility
STGP.F
Industry
5yr Volatility vs Market

STGP.F Value

 Is Scentre Group undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Scentre Group to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Scentre Group.

OTCPK:STGP.F Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations
Levered Adjusted Funds From Operations Average of 7 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.9%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for OTCPK:STGP.F
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
REITs Unlevered Beta Simply Wall St/ S&P Global 0.53
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.529 (1 + (1- 30%) (75.62%))
0.872
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.87
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.872 * 5.96%)
7.93%

Discounted Cash Flow Calculation for OTCPK:STGP.F using 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations Model

The calculations below outline how an intrinsic value for Scentre Group is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Scentre Group is a Real Estate Investment Trust (REIT), we use funds from operations (FFO) or adjusted funds from operations (AFFO) instead of levered free cash flow for REITs. This excludes depreciation and borrowing. Ideally analysts estimates of AFFO are used, where these aren't available we use FFO.

OTCPK:STGP.F DCF 1st Stage: Next 10 year cash flow forecast
Adjusted Funds From Operations (AFFO) (AUD, Millions) Source Present Value
Discounted (@ 7.93%)
2019 1,285.50 Analyst x2 1,191.06
2020 1,342.30 Analyst x2 1,152.32
2021 1,389.95 Analyst x2 1,105.57
2022 1,437.73 Est @ 3.44% 1,059.56
2023 1,484.11 Est @ 3.23% 1,013.39
2024 1,529.77 Est @ 3.08% 967.83
2025 1,575.25 Est @ 2.97% 923.38
2026 1,620.93 Est @ 2.9% 880.36
2027 1,667.11 Est @ 2.85% 838.92
2028 1,714.01 Est @ 2.81% 799.16
Present value of next 10 years cash flows A$9,931.54
OTCPK:STGP.F DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= A$1,714.01 × (1 + 2.73%) ÷ (7.93% – 2.73%)
A$33,868.08
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= A$33,868.08 ÷ (1 + 7.93%)10
A$15,790.97
OTCPK:STGP.F Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= A$9,931.54 + A$15,790.97
A$25,722.51
Equity Value per Share
(AUD)
= Total value / Shares Outstanding
= A$25,722.51 / 5,304.30
A$4.83
OTCPK:STGP.F Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in OTCPK:STGP.F represents 0.68926x of ASX:SCG
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.68926x
Value per Share
(Listing Adjusted, USD)
= Value per Share (AUD) x Listing Adjustment Factor
= A$ 4.83 x 0.68926
$3.33
Value per share (USD) From above. $3.33
Current discount Discount to share price of $2.70
= -1 x ($2.70 - $3.33) / $3.33
19.1%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Scentre Group is available for.
Intrinsic value
19%
Share price is $2.7 vs Future cash flow value of $3.33
Current Discount Checks
For Scentre Group to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Scentre Group's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • Scentre Group's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Scentre Group's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Scentre Group's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OTCPK:STGP.F PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in AUD A$0.43
ASX:SCG Share Price ** ASX (2019-05-23) in AUD A$3.91
United States of America REITs Industry PE Ratio Median Figure of 155 Publicly-Listed REITs Companies 32.62x
United States of America Market PE Ratio Median Figure of 3,082 Publicly-Listed Companies 17.36x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Scentre Group.

OTCPK:STGP.F PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= ASX:SCG Share Price ÷ EPS (both in AUD)

= 3.91 ÷ 0.43

9.07x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Scentre Group is good value based on earnings compared to the US REITs industry average.
  • Scentre Group is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does Scentre Group's expected growth come at a high price?
Raw Data
OTCPK:STGP.F PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 9.07x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts
-12.4%per year
United States of America REITs Industry PEG Ratio Median Figure of 141 Publicly-Listed REITs Companies 2.39x
United States of America Market PEG Ratio Median Figure of 2,120 Publicly-Listed Companies 1.5x

*Line of best fit is calculated by linear regression .

OTCPK:STGP.F PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 9.07x ÷ -12.4%

-0.73x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Scentre Group earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Scentre Group's assets?
Raw Data
OTCPK:STGP.F PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in AUD A$4.46
ASX:SCG Share Price * ASX (2019-05-23) in AUD A$3.91
United States of America REITs Industry PB Ratio Median Figure of 191 Publicly-Listed REITs Companies 1.86x
United States of America Market PB Ratio Median Figure of 5,207 Publicly-Listed Companies 1.8x
OTCPK:STGP.F PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= ASX:SCG Share Price ÷ Book Value per Share (both in AUD)

= 3.91 ÷ 4.46

0.88x

* Primary Listing of Scentre Group.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Scentre Group is good value based on assets compared to the US REITs industry average.
X
Value checks
We assess Scentre Group's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the REITs industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the REITs industry average (and greater than 0)? (1 check)
  5. Scentre Group has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

STGP.F Future Performance

 How is Scentre Group expected to perform in the next 1 to 3 years based on estimates from 7 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-12.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Scentre Group expected to grow at an attractive rate?
  • Scentre Group's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Scentre Group's earnings are expected to decrease over the next 1-3 years, this is below the United States of America market average.
  • Scentre Group's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
OTCPK:STGP.F Future Growth Rates Data Sources
Data Point Source Value (per year)
OTCPK:STGP.F Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts -12.4%
OTCPK:STGP.F Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 7 Analysts 5.6%
United States of America REITs Industry Earnings Growth Rate Market Cap Weighted Average 5.7%
United States of America REITs Industry Revenue Growth Rate Market Cap Weighted Average 4.4%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.7%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.3%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
OTCPK:STGP.F Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below
All numbers in AUD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
OTCPK:STGP.F Future Estimates Data
Date (Data in AUD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 3,168 1,442 1,443 4
2020-12-31 3,098 1,400 1,470 5
2019-12-31 3,015 1,360 1,413 5
OTCPK:STGP.F Past Financials Data
Date (Data in AUD Millions) Revenue Cash Flow Net Income *
2018-12-31 2,635 1,299 2,287
2018-09-30 2,592 1,299 3,278
2018-06-30 2,548 1,298 4,268
2018-03-31 2,509 1,262 4,243
2017-12-31 2,470 1,225 4,218
2017-09-30 2,459 1,164 3,733
2017-06-30 2,449 1,102 3,249
2017-03-31 2,485 1,110 3,120
2016-12-31 2,521 1,117 2,991
2016-09-30 2,660 1,151 2,885
2016-06-30 2,798 1,184 2,779
2016-03-31 2,833 1,187 2,744

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Scentre Group's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Scentre Group's revenue is expected to grow by 5.6% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
OTCPK:STGP.F Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below

All data from Scentre Group Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:STGP.F Future Estimates Data
Date (Data in AUD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 0.28 0.30 0.27 3.00
2020-12-31 0.29 0.32 0.26 4.00
2019-12-31 0.28 0.31 0.25 4.00
OTCPK:STGP.F Past Financials Data
Date (Data in AUD Millions) EPS *
2018-12-31 0.43
2018-09-30 0.62
2018-06-30 0.80
2018-03-31 0.80
2017-12-31 0.79
2017-09-30 0.70
2017-06-30 0.61
2017-03-31 0.59
2016-12-31 0.56
2016-09-30 0.54
2016-06-30 0.52
2016-03-31 0.52

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Scentre Group is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Scentre Group's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Scentre Group has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

STGP.F Past Performance

  How has Scentre Group performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Scentre Group's growth in the last year to its industry (REITs).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Scentre Group has delivered over 20% year on year earnings growth in the past 5 years.
  • Scentre Group's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Scentre Group's 1-year earnings growth is negative, it can't be compared to the US REITs industry average.
Earnings and Revenue History
Scentre Group's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Scentre Group Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:STGP.F Past Revenue, Cash Flow and Net Income Data
Date (Data in AUD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 2,635.10 2,287.20 85.90
2018-09-30 2,591.60 3,277.80 87.30
2018-06-30 2,548.10 4,268.40 88.70
2018-03-31 2,508.85 4,243.15 88.65
2017-12-31 2,469.60 4,217.90 88.60
2017-09-30 2,459.15 3,733.25 87.65
2017-06-30 2,448.70 3,248.60 86.70
2017-03-31 2,484.70 3,119.55 86.55
2016-12-31 2,520.70 2,990.50 86.40
2016-09-30 2,659.50 2,884.85 87.45
2016-06-30 2,798.30 2,779.20 88.50
2016-03-31 2,833.05 2,743.50 89.75
2015-12-31 2,867.80 2,707.80 91.00
2015-09-30 2,797.75 2,535.80 92.10
2015-06-30 2,727.70 2,363.80 93.20
2015-03-31 2,446.10 1,903.85 87.30
2014-12-31 2,164.50 1,443.90 81.40
2014-09-30 1,206.60 916.10 53.20
2014-06-30 648.80 463.00 37.60
2014-03-31 591.55 620.05 36.85
2013-12-31 534.30 777.10 36.10
2013-09-30 932.75 871.25 49.05
2013-06-30 931.10 890.70 49.40
2013-03-31 722.85 860.75 43.25
2012-12-31 514.60 830.80 37.10
2012-06-30 425.67 680.03 31.93

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Scentre Group has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Scentre Group used its assets more efficiently than the US REITs industry average last year based on Return on Assets.
  • Scentre Group's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Scentre Group's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the REITs industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Scentre Group has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

STGP.F Health

 How is Scentre Group's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Scentre Group's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Scentre Group's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Scentre Group's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Scentre Group's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Scentre Group Company Filings, last reported 4 months ago.

OTCPK:STGP.F Past Debt and Equity Data
Date (Data in AUD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 23,865.80 15,683.30 207.40
2018-09-30 23,865.80 15,683.30 207.40
2018-06-30 23,617.60 13,742.50 200.80
2018-03-31 23,617.60 13,742.50 200.80
2017-12-31 22,781.30 13,258.90 174.00
2017-09-30 22,781.30 13,258.90 174.00
2017-06-30 20,598.00 12,676.80 172.00
2017-03-31 20,598.00 12,676.80 172.00
2016-12-31 19,754.40 12,858.30 159.00
2016-09-30 19,754.40 12,858.30 159.00
2016-06-30 18,523.80 12,901.50 208.70
2016-03-31 18,523.80 12,901.50 208.70
2015-12-31 17,906.20 12,522.10 142.70
2015-09-30 17,906.20 12,522.10 142.70
2015-06-30 16,807.80 12,887.70 191.40
2015-03-31 16,807.80 12,887.70 191.40
2014-12-31 16,428.80 13,486.60 189.30
2014-09-30 16,428.80 13,486.60 189.30
2014-06-30 15,103.90 13,077.40 418.80
2014-03-31 15,103.90 13,077.40 418.80
2013-12-31 10,475.30 3,181.20 21.40
2013-09-30 10,475.30 3,181.20 21.40
2013-06-30 10,407.30 3,045.90 23.20
2013-03-31 10,407.30 3,045.90 23.20
2012-12-31 10,405.20 2,820.50 17.10
2012-06-30 10,292.50 2,948.20 12.00
  • Scentre Group's level of debt (65.7%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (31.3% vs 65.7% today).
  • Debt is not well covered by operating cash flow (8.3%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 3.2x coverage).
X
Financial health checks
We assess Scentre Group's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Scentre Group has a total score of 1/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

STGP.F Dividends

 What is Scentre Group's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
5.67%
Current annual income from Scentre Group dividends. Estimated to be 5.9% next year.
If you bought $2,000 of Scentre Group shares you are expected to receive $113 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Scentre Group's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.47%).
  • Scentre Group's dividend is above the markets top 25% of dividend payers in United States of America (3.76%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
OTCPK:STGP.F Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below
United States of America REITs Industry Average Dividend Yield Market Cap Weighted Average of 184 Stocks 3.8%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2008 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.5%
United States of America Top 25% Dividend Yield 75th Percentile 3.8%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

OTCPK:STGP.F Future Dividends Estimate Data
Date (Data in A$) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.24 9.00
2020-12-31 0.23 11.00
2019-12-31 0.23 11.00
OTCPK:STGP.F Past Annualized Dividends Data
Date (Data in A$) Dividend per share (annual) Avg. Yield (%)
2019-02-08 0.222 5.647
2018-08-08 0.222 5.508
2018-02-07 0.217 5.323
2017-08-08 0.217 5.343
2017-02-08 0.213 5.008
2016-08-08 0.213 4.725
2016-02-05 0.209 4.480
2015-02-23 0.257 6.520
2015-02-05 0.102 2.649

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, Scentre Group has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Scentre Group only paid a dividend in the past 4 years.
Current Payout to shareholders
What portion of Scentre Group's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.1x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be thoroughly covered by earnings (6250x coverage).
X
Income/ dividend checks
We assess Scentre Group's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Scentre Group afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Scentre Group has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

STGP.F Management

 What is the CEO of Scentre Group's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Peter Allen
COMPENSATION A$7,736,343
AGE 56
TENURE AS CEO 5.3 years
CEO Bio

Mr. Peter Kenneth Allen has been the Chief Executive Officer and Executive Director of Scentre Group since 2010 and May 25, 2011 respectively. Mr. Allen has been Chief Executive Officer and Executive Director of Scentre Management Limited (formerly, Westfield Management Limited), the responsible entity of Scentre Group Trust 1 and Carindale Property Trust since June 30, 2014 and May 25, 2011 respectively. He served as Group Chief Financial Officer at Westfield Corporation Limited. He served as Managing Director of Australia & Newzealand Operations at Westfield America Trust. Prior to the establishment of Scentre Group, Mr. Allen served as the Group Chief Financial Officer for Westfield Group from 2004 to 2014. He served as the Director of­ Finance and Chief Executive Officer of UK/Europe of Westfield Corp. from 1998 to 2004. He worked for Citibank in Melbourne, New York and London before joining the Westfield Group in 1996 as Director for Business Development. He has more than 20 years of global experience in senior financial, property and commercial roles. He served as Group Chief Financial Officer at Scentre Management Limited. He serves as a Director of Scentre Trust (NZ) Limited. He serves as a Director of Scentre Design And Construction Pty Limited and Scentre Shopping Centre Management Pty Ltd. He served as an Executive Director of Westfield Group since May 25, 2011. He served as an Executive Director of Westfield Corp. since May 25, 2011. He served as Director of Westfield UK & Europe Finance Plc. He served as a Director of Scentre Capital Corporation Pty Limited. He served as Director of Scentre Finance (NZ) Limited (formerly Westfield Finance (NZ) Limited) since June 25, 2004. He served as a Director of Westfield Capital Corporation Ltd, Westfield Trust (N.Z.) Ltd., Westfield Europe Finance Plc and SCG1 Finance (Aust) Pty Limited (formerly, WT Finance (Aust) Pty. Ltd.). Mr. Allen was a Non-Executive Director of Westfield Retail Trust and an Executive Director of Westfield Holdings Limited. He served as a Director of Westfield America Management Ltd from May 2011 to June 30, 2014. He serves as the Chairman of the Shopping Centre Council of Australia. He serves as a Director of the Victor Chang Cardiac Research Institute and sits on the Board of the Kolling Foundation. He has been Director of RE1 Limited and RE2 Limited since December 21, 2010. He is a member of the President’s Council of the Art Gallery of NSW. Mr. Allen is also an Associate Member of the Australian Property Institute (AAPI).

CEO Compensation
  • Peter's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Peter's remuneration is lower than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Scentre Group management team in years:

4.2
Average Tenure
51
Average Age
  • The tenure for the Scentre Group management team is about average.
Management Team

Peter Allen

TITLE
CEO & Executive Director
COMPENSATION
A$8M
AGE
56
TENURE
5.3 yrs

Greg Miles

TITLE
Chief Operating Officer
COMPENSATION
A$5M
AGE
54
TENURE
3.5 yrs

Elliott Rusanow

TITLE
Chief Financial Officer
AGE
44
TENURE
0.1 yrs

Richard Webby

TITLE
Director of Technology
TENURE
1.3 yrs

Andrew Clarke

TITLE
Director Finance & Investor Relations
TENURE
2.3 yrs

Maureen McGrath

TITLE
General Counsel of Compliance & Secretariat and Secretary
TENURE
4.9 yrs

Paul Giugni

TITLE
General Counsel & Secretary
TENURE
4.9 yrs

Janine Frew

TITLE
Director of Human Resources
TENURE
4.9 yrs

Dudley Heywood

TITLE
Head of Tax
TENURE
4.9 yrs

Cynthia Whelan

TITLE
Chief Strategy & Business Development Officer
AGE
48
TENURE
0.3 yrs
Board of Directors Tenure

Average tenure and age of the Scentre Group board of directors in years:

3.6
Average Tenure
57
Average Age
  • The tenure for the Scentre Group board of directors is about average.
Board of Directors

Brian Schwartz

TITLE
Independent Non-Executive Chairman
COMPENSATION
A$718K
AGE
65
TENURE
3 yrs

Peter Allen

TITLE
CEO & Executive Director
COMPENSATION
A$8M
AGE
56
TENURE
8 yrs

Andrew Harmos

TITLE
Independent Non-Executive Director
COMPENSATION
A$280K
AGE
58
TENURE
4.9 yrs

Mike Ihlein

TITLE
Independent Non-Executive Director
COMPENSATION
A$280K
AGE
62
TENURE
4.9 yrs

Aliza Knox

TITLE
Independent Non-Executive Director
COMPENSATION
A$240K
AGE
56
TENURE
4 yrs

Sarah Carolyn Kay

TITLE
Independent Non-Executive Director
COMPENSATION
A$250K
AGE
57
TENURE
3.3 yrs

Margie Seale

TITLE
Independent Non-Executive Director
COMPENSATION
A$280K
AGE
57
TENURE
3.3 yrs

Steven Leigh

TITLE
Non-Executive Director
TENURE
0.1 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Scentre Group insiders in the past 3 months, but not in substantial volumes.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
06. May 19 Sell The Vanguard Group, Inc. Company 15. May 17 01. May 19 -80,904,351 $3.15 $-255,139,719
06. May 19 Buy The Vanguard Group, Inc. Company 12. May 17 01. May 19 133,623,270 $3.15 $420,803,663
15. Mar 19 Buy Michael Ihlein Individual 13. Mar 19 13. Mar 19 15,000 $2.79 $41,788
12. Feb 19 Sell State Street Global Advisors, Inc. Company 28. Mar 17 05. Feb 19 -60,321,973 $3.22 $-41,895
12. Feb 19 Buy State Street Global Advisors, Inc. Company 24. Mar 17 08. Feb 19 122,546,055 $3.24 $20,781
18. Oct 18 Buy Andrew Harmos Individual 16. Oct 18 16. Oct 18 10,000 $2.71 $27,137
17. Oct 18 Buy Sarah Carolyn Kay Individual 17. Oct 18 17. Oct 18 30,000 $2.76 $82,751
16. Oct 18 Buy Brian Schwartz Individual 16. Oct 18 16. Oct 18 6,560 $2.72 $17,849
X
Management checks
We assess Scentre Group's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Scentre Group has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

STGP.F News

Simply Wall St News

STGP.F Company Info

Description

Scentre Group (ASX Code: SCG) is the owner and operator of Westfield in Australia and New Zealand with interests in 41 centres, encompassing approximately 11,500 outlets and total assets under management of $54.2 billion.

Details
Name: Scentre Group
STGP.F
Exchange: OTCPK
Founded:
A$14,343,866,420
5,304,295,769
Website: http://www.scentregroup.com
Address: Scentre Group
85 Castlereagh Street,
Level 30,
Sydney,
New South Wales, 2000,
Australia
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ASX SCG SCG Stapled Units Australian Securities Exchange AU AUD 25. Jun 2014
OTCPK STGP.F SCG Stapled Units Pink Sheets LLC US USD 25. Jun 2014
CHIA SCG SCG Stapled Units Chi-X Australia AU AUD 25. Jun 2014
Number of employees
Current staff
Staff numbers
2,700
Scentre Group employees.
Industry
Retail REITs
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/25 00:43
End of day share price update: 2019/05/23 00:00
Last estimates confirmation: 2019/05/20
Last earnings filing: 2019/02/19
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.