# A-REIT valuation model



## Bushman (11 June 2010)

Does anyone have an excel-based A-REIT valuation model or know where I can lay my hands on one? 

Much appreciated if anyone does. 

Cheers B'man


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## nulla nulla (19 June 2012)

REIT Table 18 June 2012


    Share        Code        Closing Price        Capital        Earnings $        Dist $        Yield %        P/E        NTA $        Price/Assets                  Australand Property        ALZ        2.54        1,465,190,356        0.244        0.215        8.46        10.41        3.46        -27%        BWP Trust        BWP        1.95        1,024,247,431        0.1136        0.1463        7.5        17.17        1.87        4%        CFS Retail Trust        CFX        1.94        5,499,952,289        0.1347        0.129        6.65        14.4        2.06        -6%        Charter Hall        CHC        2.33        691,651,704        0.0849        0.176        7.55        27.44        2.19        6%        Cromwell        CMW        0.71        830,478,150        0.057        0.07        9.86        12.46        0.68        4%        Commonwealth Office        CPA        1.005        2,358,738,470        0.0843        0.0564        5.61        11.92        1.13        -11%        Charter Hall Retail        CQR        3.45        1,033,718,570        0.1128        0.261        7.57        30.59        3.43        1%        Dexus        DXS        0.93        4,500,292,484        0.0836        0.0526        5.66        11.12        1.01        -8%        Goodman Group        GMG        3.57        5,531,900,354        0.2505        0.19        5.32        14.25        2.5        43%        GPT Group        GPT        3.2        5,681,907,837        0.1629        0.18        5.69        19.64        3.59        -11%        Investra Office        IOF        2.68        1,645,647,187        0.3016        0.117        4.37        8.89        3.16        -15%        Mirvac Group        MGR        1.275        4,358,251,863        0.1094        0.082        6.43        11.65        1.63        -22%        Stockland Property        SGP        3.28        7,240,640,849        0.269        0.239        7.29        12.19        3.69        -11%        Westfield        WDC        9.45        21,428,853,113        0.6655        0.484        5.12        14.2        7.27        30%        Westfield Retail        WRT        2.74        8,521,123,684        0.0396        0.165        5.91        8.73        3.26        -14%    


Comparison of Earnings, dividends, yield, p/e, nta etc. All figures are taken from comsec iress and no guarantees are given as to accuracy. Always do your own research/homework etc.


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## odds-on (23 June 2012)

Hi Nulla Nulla,

I see from other threads you regularly trade the REITs. Would you mind sharing why you like to trade REITs? I have been playing around with the idea of trading large caps with the aim of gaining a few percent here and a few percent there. Obviously over the course of a year this compounds into a nice return. My holding time frame would be weeks not months.

Cheers

Oddson.


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## nulla nulla (23 June 2012)

Regular oportunity mainly. Fundamentaly, these days, they are fairly sound with most of them trading at discounts to NTA. Also most of them have significantly reduced their borrowings so their debt to equity ratios are quite low. 

Their yields are relatively low these days, but they don't rely on borrowings to pay inflated dividends which they did in the past. Most of them have been tracking sideways in tight ranges since June 2009. Most of them have poured additional income back into "share Buy backs in an attempt to reduce the volume of shares on issue. This is intended to narrow the gap between the share price and nta. I suspect it could increase the gaps personally as the market is likely driven more by the p/e ratios. 

They regularly go up and down providing entry/exit oportunities. Regular smal profits have a cumulative effect. They could collapse at any time, so there is always risk. You still need to research them yourself and understand what factors are impacting on them and the likely outcomes.


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## nulla nulla (15 July 2012)

Testing the auto save function. 

Results:  Pass


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## nulla nulla (19 August 2012)

Update as at 17/8/12.



    Share        Code        Closing Price        Capital        Earnings $        Dist $        Yield %        P/E        NTA $        Discount to NTA                  Australand Property        ALZ        2.980        1,719,002,859        0.2520        0.2150        7.21%        11.83        3.46        13.87%        BWP Trust        BWP        1.965        1,032,126,258        0.1340        0.1350        6.87%        14.66        1.85        -6.22%        CFS Retail Trust        CFX        1.975        5,586,278,927        0.1347        0.1310        6.63%        14.66        2.06        4.13%        Charter Hall        CHC        2.450        730,496,001        0.0849        0.1820        7.43%        28.86        2.19        -11.87%        Cromwell        CMW        0.740        865,569,818        0.0570        0.0700        9.46%        12.98        0.68        -8.82%        Commonwealth Office        CPA        1.075        2,523,028,669        0.0843        0.0609        5.67%        12.75        1.13        4.87%        Charter Hall Retail        CQR        3.510        1,051,696,284        0.1128        0.2610        7.44%        31.12        3.43        -2.33%        Dexus        DXS        0.965        4,669,658,330        0.0375        0.0535        5.54%        25.73        1.00        3.50%        Goodman Group        GMG        3.950        6,340,174,526        0.2704        0.1800        4.56%        14.61        2.54        -55.51%        GPT Group        GPT        3.540        6,254,419,166        0.1789        0.1880        5.31%        19.79        3.65        3.01%        Investra Office        IOF        2.880        1,768,456,679        0.3016        0.1560        5.42%        9.55        3.16        8.86%        Mirvac Group        MGR        1.365        4,671,237,301        0.1094        0.0840        6.15%        12.48        1.63        16.26%        Stockland Property        SGP        3.220        7,095,422,074        0.2110        0.2400        7.45%        15.26        3.68        12.50%        Westfield        WDC        9.880        22,333,794,735        0.7322        0.4895        4.95%        13.49        6.79        -45.51%        Westfield Retail        WRT        2.970        9,070,873,599        0.2690        0.1765        5.94%        11.04        3.37        11.87%    


Do your own research as figures given above may not be reliable.


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## nulla nulla (19 August 2012)

Sorted by highest capital to lowest:


    Share        Code        Closing Price        Capital        Earnings $        Dist $        Yield %        P/E        NTA $        Discount to NTA        Westfield        WDC        9.880        22,333,794,735        0.7322        0.4895        4.95%        13.49        6.79        -45.51%        Westfield Retail        WRT        2.970        9,070,873,599        0.2690        0.1765        5.94%        11.04        3.37        11.87%        Stockland Property        SGP        3.220        7,095,422,074        0.2110        0.2400        7.45%        15.26        3.68        12.50%        Goodman Group        GMG        3.950        6,340,174,526        0.2704        0.1800        4.56%        14.61        2.54        -55.51%        GPT Group        GPT        3.540        6,254,419,166        0.1789        0.1880        5.31%        19.79        3.65        3.01%        CFS Retail Trust        CFX        1.975        5,586,278,927        0.1347        0.1310        6.63%        14.66        2.06        4.13%        Mirvac Group        MGR        1.365        4,671,237,301        0.1094        0.0840        6.15%        12.48        1.63        16.26%        Dexus        DXS        0.965        4,669,658,330        0.0375        0.0535        5.54%        25.73        1.00        3.50%        Commonwealth Office        CPA        1.075        2,523,028,669        0.0843        0.0609        5.67%        12.75        1.13        4.87%        Investra Office        IOF        2.880        1,768,456,679        0.3016        0.1560        5.42%        9.55        3.16        8.86%        Australand Property        ALZ        2.980        1,719,002,859        0.2520        0.2150        7.21%        11.83        3.46        13.87%        Charter Hall Retail        CQR        3.510        1,051,696,284        0.1128        0.2610        7.44%        31.12        3.43        -2.33%        BWP Trust        BWP        1.965        1,032,126,258        0.1340        0.1350        6.87%        14.66        1.85        -6.22%        Cromwell        CMW        0.740        865,569,818        0.0570        0.0700        9.46%        12.98        0.68        -8.82%        Charter Hall        CHC        2.450        730,496,001        0.0849        0.1820        7.43%        28.86        2.19        -11.87%


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## nulla nulla (19 August 2012)

And sorted by yield:


 *Share*  *Code*  *Closing Price*  *Capital*  *Earnings $    * *Dist $*  *Yield %*  *P/E*  *NTA $*  *Discount to NTA*               Cromwell        CMW        0.740        865,569,818        0.0570        0.0700        9.46%        12.98        0.68        -8.82%        Stockland Property        SGP        3.220        7,095,422,074        0.2110        0.2400        7.45%        15.26        3.68        12.50%        Charter Hall Retail        CQR        3.510        1,051,696,284        0.1128        0.2610        7.44%        31.12        3.43        -2.33%        Charter Hall        CHC        2.450        730,496,001        0.0849        0.1820        7.43%        28.86        2.19        -11.87%        Australand Property        ALZ        2.980        1,719,002,859        0.2520        0.2150        7.21%        11.83        3.46        13.87%        BWP Trust        BWP        1.965        1,032,126,258        0.1340        0.1350        6.87%        14.66        1.85        -6.22%        CFS Retail Trust        CFX        1.975        5,586,278,927        0.1347        0.1310        6.63%        14.66        2.06        4.13%        Mirvac Group        MGR        1.365        4,671,237,301        0.1094        0.0840        6.15%        12.48        1.63        16.26%        Westfield Retail        WRT        2.970        9,070,873,599        0.2690        0.1765        5.94%        11.04        3.37        11.87%        Commonwealth Office        CPA        1.075        2,523,028,669        0.0843        0.0609        5.67%        12.75        1.13        4.87%        Dexus        DXS        0.965        4,669,658,330        0.0375        0.0535        5.54%        25.73        1.00        3.50%        Investra Office        IOF        2.880        1,768,456,679        0.3016        0.1560        5.42%        9.55        3.16        8.86%        GPT Group        GPT        3.540        6,254,419,166        0.1789        0.1880        5.31%        19.79        3.65        3.01%        Westfield        WDC        9.880        22,333,794,735        0.7322        0.4895        4.95%        13.49        6.79        -45.51%        Goodman Group        GMG        3.950        6,340,174,526        0.2704        0.1800        4.56%        14.61        2.54        -55.51%    


The negate "discount to nta" indicates that the share is trading at a premium to nta.


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## nulla nulla (29 September 2012)

Updated as at 28-09-2012.


    Share        Code        Closing Price        Capital        Earnings $        Dist $        Yield %        P/E        NTA $        Discount to NTA                  Australand Property        ALZ        2.950        1,701,697,461        0.2520        0.2150        7.29%        11.71        3.46        14.74%        BWP Trust        BWP        1.990        1,045,257,635        0.1340        0.1350        6.78%        14.85        1.85        -7.57%        CFS Retail Trust        CFX        1.930        5,458,996,622        0.1347        0.1310        6.79%        14.33        2.06        6.31%        Charter Hall        CHC        2.880        858,705,503        0.0849        0.1820        6.32%        33.92        2.19        -31.51%        Cromwell        CMW        0.780        912,357,376        0.0570        0.0700        8.97%        13.68        0.68        -14.71%        Commonwealth Office        CPA        1.035        2,429,148,532        0.0843        0.0609        5.88%        12.28        1.13        8.41%        Charter Hall Retail        CQR        3.430        1,027,725,999        0.1128        0.2610        7.61%        30.41        3.43        0.00%        Dexus        DXS        0.950        4,597,072,967        0.0375        0.0535        5.63%        25.33        1.00        5.00%        Goodman Group        GMG        3.960        6,356,225,601        0.2704        0.1800        4.55%        14.64        2.54        -55.91%        GPT Group        GPT        3.400        6,007,069,255        0.1789        0.1880        5.53%        19.01        3.65        6.85%        Investra Office        IOF        2.890        1,774,597,154        0.3016        0.1560        5.40%        9.58        3.16        8.54%        Mirvac Group        MGR        1.430        4,893,677,173        0.1094        0.0840        5.87%        13.07        1.63        12.27%        Stockland Property        SGP        3.340        7,359,847,742        0.2110        0.2400        7.19%        15.83        3.68        9.24%        Westfield        WDC        10.160        22,966,736,286        0.7322        0.4895        4.82%        13.88        6.79        -49.63%        Westfield Retail        WRT        2.890        8,826,540,304        0.2690        0.1765        6.11%        10.74        3.37        14.24%    


[/td]
[/tr]


There have been some interesting changes in the past 6 weeks.


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## nulla nulla (13 October 2012)

Updated as at 12 October 2012.


    Share        Code        Closing Price        Capital        Earnings $        Dist $        Yield %        P/E        NTA $        Discount to NTA                  Australand Property        ALZ        3.000        1,730,539,791        0.2520        0.2150        7.17%        11.90        3.46        13.29%        BWP Trust        BWP        2.050        1,076,772,941        0.1340        0.1350        6.59%        15.30        1.85        -10.81%        CFS Retail Trust        CFX        1.955        5,529,709,013        0.1347        0.1310        6.70%        14.51        2.06        5.10%        Charter Hall        CHC        2.810        837,834,189        0.0849        0.1820        6.48%        33.10        2.19        -28.31%        Cromwell        CMW        0.790        924,054,265        0.0570        0.0700     *8.86%*     13.86        0.68        -16.18%        Commonwealth Office        CPA        1.080        2,534,763,686        0.0843        0.0609        5.64%        12.81        1.13        4.42%        Charter Hall Retail        CQR        3.460        1,036,714,856        0.1128        0.2610     *7.54%*     30.67        3.43        -0.87%        Dexus        DXS        0.980        4,742,243,692        0.0375        0.0535        5.46%        26.13        1.00        2.00%        FKP Stapled        FKP        0.225        506,478,687        -0.2920        0.0219     *9.73%*     -0.77        0.90        75.00%        Goodman Group        GMG        4.130        6,629,093,872        0.2704        0.1800        4.36%        15.27        2.54        -62.60%        GPT Group        GPT        3.550        6,272,087,016        0.1789        0.1880        5.30%        19.84        3.65        2.74%        Investra Office        IOF        2.950        1,811,440,001        0.3016        0.1560        5.29%        9.78        3.16        6.65%        Mirvac Group        MGR        1.505        5,150,338,563        0.1094        0.0840        5.58%        13.76        1.63        7.67%        Stockland Property        SGP        3.620        7,976,840,965        0.2110        0.2400        6.63%        17.16        3.68        1.63%        Westfield        WDC        10.350        23,396,232,339        0.7322        0.4895        4.73%        14.14        6.79        -52.43%        Westfield Retail        WRT        3.030        9,254,123,571        0.2690        0.1765        5.83%        11.26        3.37        10.09%    



[/td]
[/tr]

Some of these figures may be subject to adjustment relative to share buy back cancelations as well as nta revisions in line with new capital issued. Interesting that the three highest yields also appear to be paying higher distributions than their earnings. REIT can be a crazy sector when the market mood pushes a share price way up in respect of value for yield, p/e and premiums to nta. Go figure.

Disclaimer: These tables should not be relied upon for investments decisions. Consult and expert and do your own research.


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## white_goodman (21 October 2012)

nulla nulla said:


> Updated as at 12 October 2012.
> Some of these figures may be subject to adjustment relative to share buy back cancelations as well as nta revisions in line with new capital issued. Interesting that the three highest yields also appear to be paying higher distributions than their earnings. REIT can be a crazy sector when the market mood pushes a share price way up in respect of value for yield, p/e and premiums to nta. Go figure.
> 
> Disclaimer: These tables should not be relied upon for investments decisions. Consult and expert and do your own research.




FKP would have to go on my watchlist


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## Muschu (21 October 2012)

Any thoughts that some of these may better value than the banks at the moment?  

Regards

Rick

- Not holding any of the above.


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## nulla nulla (21 October 2012)

Muschu said:


> Any thoughts that some of these may better value than the banks at the moment?
> 
> Regards
> 
> ...




Personally I feel that the banks are too high at the moment to acquire as a long term hold as an investment for fully franked dividends. If you bought and are holding them from when they were at their recent lows, the yields make  some of them worth holding as having better yields than bank interest and additional benefits from franking credits.

None of the listed reit's above pay franked dividends. Most if not all are stapled shares and pay distributions as distinct from dividends. Also in my opinion most of them are not worth acquiring as a long term hold for their yield alone. Personally If I were looking to hold any REIT's long term, I would be looking for the ones with yield at their current share price combined with their prospects of reducing their discount to nta or even moving to a premium to nta.


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## Muschu (21 October 2012)

nulla nulla said:


> Personally I feel that the banks are too high at the moment to acquire as a long term hold as an investment for fully franked dividends. If you bought and are holding them from when they were at their recent lows, the yields make  some of them worth holding as having better yields than bank interest and additional benefits from franking credits.
> 
> None of the listed reit's above pay franked dividends. Most if not all are stapled shares and pay distributions as distinct from dividends. Also in my opinion most of them are not worth acquiring as a long term hold for their yield alone. Personally If I were looking to hold any REIT's long term, I would be looking for the ones with yield at their current share price combined with their prospects of reducing their discount to nta or even moving to a premium to nta.




Many thanks NN.  I have never looked into this line of investment.  Some of the larger players in this field I know of but I have not studied the area.

I started a BWP thread a few hours ago largely because a retiree friend has held them for many years and I am curious as to what others think of it.

I appreciate your comments.

Rick


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## Muschu (22 October 2012)

Hi NN

Of the many things I do not understand is the importance of NTA.  In your latest table above these vary from 0.68 to 6.79.  Is this where the importance lies or is it in the discount to NTA?

I don't want to ask you to provide advice or be too specific but how do investors use this info to guide their decision making?

[And if that question is too simple or requires a lengthy answer please ignore it...]

Regards

Rick


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## nulla nulla (22 October 2012)

Muschu said:


> Hi NN
> 
> Of the many things I do not understand is the importance of NTA.  In your latest table above these vary from 0.68 to 6.79.  Is this where the importance lies or is it in the discount to NTA?
> 
> ...




NTA = Net Tangible Assets per share. Obviously they differ for each company. Cromwell for instance has Net Tangibles Assets per share issued of $0.68. Interestingly enough, the share price last week was higher than the NTA, so accordingly it is trading at a premium to nta and the discount in the table is a negative percentage.

From my perspective, if a share has good yield and is trading at a discount to nta, I am optimistic that it has better chances of improving for a capital gain than say a share with a low yield and trading at a premium to nta. 

This doesn't necessarily work as you only have to look at GMG which is not great in the yield area and trades at a huge premium to nta. In reality the market seems to like some shares more than others and is willing to pay a premium for some but want a hefty discount on nta for others.

I try to us the fundamentals as well as the chart trends to narrow the field down to those ones I'm comfortable trading. Probably an obscure form or Risk/Return assessment.


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## nulla nulla (27 October 2012)

Some of the figures needed changing. I'm not sure whether this was due to errors in the original table or they have changed with recent profit reports.

REIT Table as at 26 October 2012:


 Code        Closing Price        Capital        Earnings $        ROE        Dist $        Yield %        P/E        NTA $        Discount to NTA                  ALZ        2.950        1,701,697,461        0.2520        8.54%        0.2150        7.29%        11.71        3.46        14.74%        BWP        2.100        1,103,035,695        0.1340        6.38%        0.1350        6.43%        15.67        1.85        -13.51%        CFX        1.965        5,557,993,970        0.1442        7.34%        0.1310        6.67%        13.63        2.06        4.61%        CHC        3.100        924,301,062        0.0564        1.82%        0.1820        5.87%        54.96        2.19        -41.55%        CMW        0.820        959,144,933        0.0216        2.63%        0.0700        8.54%        37.96        0.68        -20.59%        CPA        1.080        2,534,763,686        0.1066        9.87%        0.0609        5.64%        10.13        1.13        4.42%        CQR        3.570        1,069,673,998        0.0324        0.91%        0.2610        7.31%        110.19        3.43        -4.08%        DXS        0.985        4,766,438,813        0.0375        3.81%        0.0535        5.43%        26.27        1.00        1.50%        FKP        0.225        506,478,687        -0.2920        -129.78%        0.0219        9.73%        -0.77        0.90        75.00%        GMG        4.280        6,869,859,993        0.2704        6.32%        0.1800        4.21%        15.83        2.54        -68.50%        GPT        3.510        6,201,415,613        0.1789        5.10%        0.1880        5.36%        19.62        3.65        3.84%        IOF        2.990        1,836,001,899        0.1600        5.35%        0.1700        5.69%        18.69        3.14        4.78%        MGR        1.520        5,201,670,841        0.1220        8.03%        0.0840        5.53%        12.46        1.63        6.75%        SGP        3.470        7,646,308,881        0.2110        6.08%        0.2400        6.92%        16.45        3.68        5.71%        WDC        10.570        23,893,543,558        0.7322        6.93%        0.4895        4.63%        14.44        6.79        -55.67%        WRT        3.110        9,498,456,866        0.2690        8.65%        0.1765        5.68%        11.56        3.37        7.72%    

*By Highest Yield:*


    Code        Closing Price        Capital        Earnings $        ROE        Dist $        Yield %        P/E        NTA $        Discount to NTA                  CMW        0.820        959,144,933        0.0216        2.63%        0.0700        8.54%        37.96        0.68        -20.59%        CQR        3.570        1,069,673,998        0.0324        0.91%        0.2610        7.31%        110.19        3.43        -4.08%        ALZ        2.950        1,701,697,461        0.2520        8.54%        0.2150        7.29%        11.71        3.46        14.74%        SGP        3.470        7,646,308,881        0.2110        6.08%        0.2400        6.92%        16.45        3.68        5.71%        CFX        1.965        5,557,993,970        0.1442        7.34%        0.1310        6.67%        13.63        2.06        4.61%        BWP        2.100        1,103,035,695        0.1340        6.38%        0.1350        6.43%        15.67        1.85        -13.51%        CHC        3.100        924,301,062        0.0564        1.82%        0.1820        5.87%        54.96        2.19        -41.55%        IOF        2.990        1,836,001,899        0.1600        5.35%        0.1700        5.69%        18.69        3.14        4.78%        WRT        3.110        9,498,456,866        0.2690        8.65%        0.1765        5.68%        11.56        3.37        7.72%        CPA        1.080        2,534,763,686        0.1066        9.87%        0.0609        5.64%        10.13        1.13        4.42%        MGR        1.520        5,201,670,841        0.1220        8.03%        0.0840        5.53%        12.46        1.63        6.75%        DXS        0.985        4,766,438,813        0.0375        3.81%        0.0535        5.43%        26.27        1.00        1.50%        GPT        3.510        6,201,415,613        0.1789        5.10%        0.1880        5.36%        19.62        3.65        3.84%        WDC        10.570        23,893,543,558        0.7322        6.93%        0.4895        4.63%        14.44        6.79        -55.67%        GMG        4.280        6,869,859,993        0.2704        6.32%        0.1800        4.21%        15.83        2.54        -68.50%    


As always do your own research. The above figures may not be acurate and should not be relied on for making financial decisions. Good luck .


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## Muschu (27 October 2012)

Many thanks NN - you've added to my knowledge - very interesting comments.


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## nulla nulla (5 November 2012)

Gareth Hutchens of the Sydney Morning Herald (The Age) had an interesting possible explanation in the Saturday paper for the surprise sell down of some shares toward the end of last week:

http://www.smh.com.au/business/what-starts-well-doesnt-always-end-well-20121102-28prc.html


Carolyn Cummins (same newspaper) also led an article with "Trusts on Hold" as some analysts revised some shares from a "buy" to a "hold" with concerns for income growth next year:

http://www.smh.com.au/business/trusts-on-hold-say-analysts-20121102-28p4b.html


And of course with the changes in share price (and nta?) the yields became more attractive for some shares and less so for others:


    Code        Closing Price        Capital        Earnings $        ROE        Dist $        Yield %        P/E        NTA $        Discount to NTA                  ALZ        2.950        1,701,697,461        0.2520        8.54%        0.2150        7.29%        11.71        3.46        14.74%        BWP        2.060        1,082,025,492        0.1340        6.50%        0.1350        6.55%        15.37        1.85        -11.35%        CFX        1.945        5,501,424,057        0.1442        7.41%        0.1310        6.74%        13.49        2.06        5.58%        CHC        3.100        924,301,062        0.0564        1.82%        0.1820        5.87%        54.96        2.19        -41.55%        CMW        0.825        964,993,378        0.0216        2.62%        0.0700        8.48%        38.19        0.68        -21.32%        CPA        1.035        2,429,148,532        0.1066        10.30%        0.0609        5.88%        9.71        1.15        10.00%        CQR        3.680        1,102,633,141        0.0324        0.88%        0.2610        7.09%        113.58        3.43        -7.29%        DXS        0.965        4,669,658,330        0.0375        3.89%        0.0535        5.54%        25.73        1.00        3.50%        FKP        0.225        506,478,687        -0.2920        -129.78%        0.0219        9.73%        -0.77        0.90        75.00%        GMG        4.340        6,966,166,442        0.2704        6.23%        0.1800        4.15%        16.05        2.54        -70.87%        GPT        3.490        6,166,079,912        0.1789        5.13%        0.1880        5.39%        19.51        3.65        4.38%        IOF        2.970        1,823,720,950        0.1600        5.39%        0.1700        5.72%        18.56        3.14        5.41%        MGR        1.470        5,030,563,247        0.1220        8.30%        0.0840        5.71%        12.05        1.63        9.82%        SGP        3.440        7,580,202,464        0.2110        6.13%        0.2400        6.98%        16.30        3.68        6.52%        WDC        10.580        23,916,148,613        0.7322        6.92%        0.4895        4.63%        14.45        6.79        -55.82%        WRT        3.150        9,620,623,514        0.2690        8.54%        0.1765        5.60%        11.71        3.37        6.53%    


Disclaimer: The figures above may be inaccurate and should not be relied upon for making investment decisions. As always do your own research and good luck.


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## nulla nulla (10 November 2012)

A-REIT Table as at 9 November 2012 closing prices:


 *Code*  *Closing Price* *    Capital* *    Earnings $*  *ROE*  *Dist $*  *Yield %    * *P/E    * *NTA $*  *Discount to NTA*               ALZ        2.940        1,695,928,995        0.2520        8.57%        0.2150        7.31%        11.67        3.46        15.03%        BWP        2.070        1,087,278,043        0.1340        6.47%        0.1350        6.52%        15.45        1.85        -11.89%        CFX        1.930        5,458,996,622        0.1442        7.47%        0.1310        6.79%        13.38        2.06        6.31%        CHC        3.080        918,337,830        0.0564        1.83%        0.1820        5.91%        54.61        2.19        -40.64%        CMW        0.830        970,841,823        0.0216        2.60%        0.0700        8.43%        38.43        0.68        -22.06%        CPA        1.045        2,452,618,567        0.1066        10.20%        0.0609        5.83%        9.80        1.15        9.13%        CQR        3.600        1,078,662,856        0.2880        8.00%        0.2610        7.25%        12.50        3.43        -4.96%        DXS        0.990        4,790,633,934        0.0375        3.79%        0.0535        5.40%        26.40        1.00        1.00%        FKP        0.210        472,713,441        -0.2920        -139.05%        0.0219        10.43%        -0.72        0.90        76.67%        GMG        4.420        7,094,575,040        0.2704        6.12%        0.1800        4.07%        16.35        2.54        -74.02%        GPT        3.480        6,148,412,061        0.1789        5.14%        0.1880        5.40%        19.45        3.65        4.66%        IOF        2.890        1,774,597,154        0.1600        5.54%        0.1560        5.40%        18.06        3.14        7.96%        MGR        1.450        4,962,120,210        0.1220        8.41%        0.0840        5.79%        11.89        1.63        11.04%        SGP        3.430        7,558,166,992        0.2110        6.15%        0.2400        7.00%        16.26        3.68        6.79%        WDC        10.450        23,622,282,893        0.7322        7.01%        0.4895        4.68%        14.27        6.79        -53.90%        WRT        3.100        9,467,915,205        0.2690        8.68%        0.1765        5.69%        11.52        3.37        8.01%    


Some of the yields look attractive, particularly as some of the REIT's are due to announce a distribution in December (payable in February 2013). However the current economic uncertainty is creating volatility in the property sector as well and there is no rule of thumb to say that the present prices are opportunities to invest. Fact of the matter is REIT's have been enjoying a purple patch over recent months, climbing to their best price levels since the gfc. Who's to say the reit sector isn't about to have a correction? Shakes crystal ball and peers into the fog. As always d.y.o.r. and good luck. 

Disclaimer: The figures above may be wrong and should not be relied upon when making investment decisions.


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## nulla nulla (18 November 2012)

A-REIT Table at closing prices 16 November 2012. If I thought some of the reit's were trading at bargain prices in week ending 9/11/12 they were even better in the close on 16/11/12. Wonder if they won't be even better next Friday.


 *Code* *    Closing Price*  *Capital    * *Earnings $*  *ROE*  *Dist $*  *Yield %*  *P/E*  *NTA $*  *Discount to NTA*               ALZ        2.770        1,597,865,074        0.2520        9.10%        0.2150        7.76%        10.99        3.46        19.94%        BWP        2.040        1,071,520,390        0.1340        6.57%        0.1350        6.62%        15.22        1.85        -10.27%        CFX        1.885        5,331,714,317        0.1442        7.65%        0.1310        6.95%        13.07        2.06        8.50%        CHC        3.130        933,245,911        0.0564        1.80%        0.1820        5.81%        55.50        2.19        -42.92%        CMW        0.820        959,144,933        0.0216        2.63%        0.0700        8.54%        37.96        0.68        -20.59%        CPA        1.015        2,382,208,464        0.1066        10.50%        0.0609        6.00%        9.52        1.15        11.74%        CQR        3.540        1,060,685,141        0.2880        8.14%        0.2610        7.37%        12.29        3.43        -3.21%        DXS        0.990        4,790,633,934        0.0375        3.79%        0.0535        5.40%        26.40        1.00        1.00%        FKP        0.180        405,182,949        -0.2920        -162.22%        0.0219        12.17%        -0.62        0.90        80.00%        GMG        4.490        7,206,932,563        0.2704        6.02%        0.1800        4.01%        16.61        2.54        -76.77%        GPT        3.400        6,007,069,255        0.1789        5.26%        0.1880        5.53%        19.01        3.65        6.85%        IOF        2.840        1,743,894,781        0.1600        5.63%        0.1560        5.49%        17.75        3.14        9.55%        MGR        1.445        4,945,009,451        0.1220        8.44%        0.0840        5.81%        11.84        1.63        11.35%        SGP        3.350        7,381,883,214        0.2110        6.30%        0.2400        7.16%        15.88        3.68        8.97%        WDC        10.390        23,486,652,561        0.7322        7.05%        0.4895        4.71%        14.19        6.79        -53.02%        WRT        3.030        9,254,123,571        0.2690        8.88%        0.1765        5.83%        11.26        3.37        10.09%    

I suspect there are several reasons for the sell down into Fridays closing auction. While the REIT fundamentals are still relatively sound, it appears a lot of money is being pulled out of the market again primarily due to the nervousness about what, if anything, Obama is going to do about the U.S economy. I suspect there may also be a bit of portfolio reweighting as the fund managers free up cash to take up a position in SCP (Woolworths float off of the Shopping Centres). There was a very similar sell down of REIT's when Westfields seperated out the retail arm. As always d.y.o.r. and good luck.


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## nulla nulla (24 November 2012)

The property sector closed up for the week, almost 1%, after staging a slow recovery from Tuesday open. Some of the bargains, like CFX & IOF were snapped up and SGP rallied from the recent low of $3.29 to end this week at $3.45. Daily volumes continue at low levels and it isn't unusual in some of the stocks to see as much as 50% of the days trade turn over in the closing auction.

The REIT table has been updated for closing prices Friday 23 November 2012.


    Code        Closing Price        Capital        Earnings $        ROE        Dist $        Yield %        P/E        NTA $        Discount to NTA                  ALZ        2.970        1,713,234,393        0.2520        8.48%        0.2150        7.24%        11.79        3.46        14.16%        BWP        2.100        1,120,656,159        0.1340        6.38%        0.1350        6.43%        15.67        1.85        -13.51%        CFX        1.940        5,487,281,578        0.1442        7.43%        0.1310        6.75%        13.45        2.07        6.28%        CHC        3.110        928,908,319        0.0564        1.81%        0.1820        5.85%        55.14        2.13        -46.01%        CMW        0.830        1,017,197,397        0.0216        2.60%        0.0706        8.51%        38.43        0.67        -23.88%        CPA        1.045        2,452,618,567        0.1066        10.20%        0.0609        5.83%        9.80        1.15        9.13%        CQR        3.570        1,173,152,590        0.0324        0.91%        0.2610        7.31%        110.19        3.38        -5.62%        DXS        0.995        4,814,829,055        0.0375        3.77%        0.0535        5.38%        26.53        1.00        0.50%        FKP        0.215        483,968,523        0.0420        19.53%        0.0116        5.40%        5.12        0.58        62.93%        GMG        4.590        7,810,717,185        0.2704        5.89%        0.1800        3.92%        16.97        2.54        -80.71%        GPT        3.480        6,148,412,061        0.1789        5.14%        0.1910        5.49%        19.45        3.65        4.66%        IOF        2.930        1,799,159,052        0.1600        5.46%        0.1560        5.32%        18.31        3.14        6.69%        MGR        1.460        5,001,357,678        0.1220        8.36%        0.0640        4.38%        11.97        1.66        12.05%        SGP        3.450        7,599,169,972        0.2110        6.12%        0.2400        6.96%        16.35        3.68        6.25%        WDC        10.440        23,488,011,786        0.7322        7.01%        0.4895        4.69%        14.26        6.79        -53.76%        WRT        3.040        9,284,665,233        0.2690        8.85%        0.1765        5.81%        11.30        3.37        9.79%    


Please note. The figures for FKP are speculative based on my conversion of the information provided in FKP's Annual Report converting the figures based on the number of shares on issue as at 30-6-12 to the number of shares on issue after the August issue.
Disclaimer: These figures may contain errors and should not be relied upon for investment decisions. As always do your own research and good luck.


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## nulla nulla (1 December 2012)

Although the ASX was up for the week, A-REIT's in general stayed in a tight range. CPA finished the week at $1.02 almost as low as two weeks ago when it closed out the week at $1.015.

The REIT table has been updated for closing prices Friday *30 November 2012*.


 *Code*  *Closing Price*  *Capital*  *Earnings $*  *ROE*  *Dist $*  *Yield %*  *P/E*  *NTA $*  *Discount to NTA*               ALZ        2.960        1,707,465,927        0.2520        8.51%        0.2150        7.26%        11.75        3.46        14.45%        BWP        2.130        1,136,665,533        0.1340        6.29%        0.1350        6.34%        15.90        1.85        -15.14%        CFX        1.940        5,487,281,578        0.1442        7.43%        0.1310        6.75%        13.45        2.07        6.28%        CHC        3.150        940,855,693        0.0564        1.79%        0.1820        5.78%        55.85        2.13        -47.89%        CMW        0.830        1,017,197,397        0.0216        2.60%        0.0706        8.51%        38.43        0.67        -23.88%        CPA        1.020        2,393,943,481        0.1066        10.45%        0.0609        5.97%        9.57        1.15        11.30%        CQR        3.580        1,176,438,732        0.0324        0.91%        0.2610        7.29%        110.49        3.38        -5.92%        DXS        1.005        4,863,219,297        0.0375        3.73%        0.0535        5.32%        26.80        1.00        -0.50%        FKP        0.195        438,948,195        0.0420        21.54%        0.0116        5.95%        4.64        0.58        66.38%        GMG        4.620        7,861,767,624        0.2704        5.85%        0.1800        3.90%        17.09        2.54        -81.89%        GPT        3.490        6,166,079,912        0.1789        5.13%        0.1910        5.47%        19.51        3.65        4.38%        IOF        2.900        1,780,737,628        0.1600        5.52%        0.1560        5.38%        18.13        3.14        7.64%        MGR        1.470        5,035,613,553        0.1220        8.30%        0.0640        4.35%        12.05        1.66        11.45%        SCP        1.450        847,090,000        0.1180        8.14%        0.1040        7.17%        12.29        1.58        8.23%        SGP        3.390        7,467,010,495        0.2110        6.22%        0.2400        7.08%        16.07        3.68        7.88%        WDC        10.420        23,443,015,594        0.7322        7.03%        0.4895        4.70%        14.23        6.79        -53.46%        WRT        2.990        9,131,956,923        0.2690        9.00%        0.1765        5.90%        11.12        3.37        11.28%    

Please note.

1. The figures for *FKP* are speculative based on my conversion of the information provided in FKP's Annual Report converting the figures based on the number of shares on issue as at 30-6-12 to the number of shares on issue after the August issue. For more information see the FKP thread.

2. The figures for* SCP* (earnings and distributions) are guideline forecasts for the period 2013 - 2014 extracted from the proposal of 5 October 2012. The forecasts earnings and distributions for the period ending 30 June 2013 are: Earnings of $0.065 per share and Distributions of $0.056 per share.

Disclaimer: These figures may contain errors and should not be relied upon for investment decisions. As always do your own research and good luck .


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## nulla nulla (8 December 2012)

This was an interesting week in the *A-REIT *sector as many of the shares struggled through the week to climb off their recent low support levels. Fortunately for holders, most of them rallied on Friday to close out the week close to their recent highs. Unfortunately, despite good volumes,  two of the shares I hold failed to rally as strongly as the others and I may now hold them for the rest of the month looking for the distribution and prospects of a capital gain early in the new year.


 *Code*  *Closing Price*  *Capital*  *Earnings $*  *ROE*  *Dist $*  *Yield %*  *P/E*  *NTA $*  *Discount to NTA*               ALZ        3.020        1,742,076,723        0.2520        8.34%        0.2150        7.12%        11.98        3.46        12.72%        BWP        2.180        1,163,347,822        0.1340        6.15%        0.1350        6.19%        16.27        1.85        -17.84%        CFX        1.950        5,515,566,535        0.1442        7.39%        0.1310        6.72%        13.52        2.07        5.80%        CHC        3.250        970,724,128        0.0564        1.74%        0.1820        5.60%        57.62        2.13        -52.58%        CMW        0.860        1,053,963,568        0.0216        2.51%        0.0706        8.21%        39.81        0.67        -28.36%        CPA        1.035        2,429,148,532        0.1066        10.30%        0.0609        5.88%        9.71        1.15        10.00%        CQR        3.640        1,196,155,582        0.0324        0.89%        0.2610        7.17%        112.35        3.38        -7.69%        DXS        1.025        4,959,999,780        0.0375        3.66%        0.0535        5.22%        27.33        1.00        -2.50%        FKP        1.300        418,045,900        0.2940        22.62%        0.0812        6.25%        4.42        4.06        67.98%        GMG        4.570        7,776,683,559        0.2704        5.92%        0.1800        3.94%        16.90        2.54        -79.92%        GPT        3.600        6,360,426,270        0.1789        4.97%        0.1910        5.31%        20.12        3.65        1.37%        IOF        3.020        1,854,423,323        0.1600        5.30%        0.1560        5.17%        18.88        3.14        3.82%        MGR        1.500        5,138,381,177        0.1220        8.13%        0.0640        4.27%        12.30        1.66        9.64%        SCP        1.520        887,984,000        0.1180        7.76%        0.1040        6.84%        12.88        1.58        3.80%        SGP        3.430        7,555,116,813        0.2110        6.15%        0.2400        7.00%        16.26        3.68        6.79%        WDC        10.570        23,780,487,028        0.7322        6.93%        0.4895        4.63%        14.44        6.79        -55.67%        WRT        2.990        9,131,956,923        0.2690        9.00%        0.1765        5.90%        11.12        3.37        11.28%    

1. The figures for* FKP *are speculative based on my conversion of the information provided in FKP's Annual Report converting the figures based on the number of shares on issue as at 30-6-12 to the number of shares on issue after the August issue. In addition the initial speculative figures have now been adjusted to reflect the consolidation of  7 shares to 1 share. For more information see the FKP thread.

2. The figures for *SCP* (earnings and distributions) are guideline forecasts for the period 2013 - 2014 extracted from the proposal of 5 October 2012 Comments ( 08 December 2012):
. The forecasts earnings and distributions for the period ending 30 June 2013 are: Earnings of $0.065 per share and Distributions of $0.056 per share.

Disclaimer: The figures in the above table may contain errors and should not be relied upon for investment decisions. As always do your own research and good luck  .


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## PinguPingu (8 December 2012)

Had some decent short term trades on CRF and GMG end of this week, may also be back in for the distributions.


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## nulla nulla (16 December 2012)

Updated chart for Week ending 14 December 2012. Another interesting week with a take over offer in the works by GPT for ALZ (or parts there-of) a push down on Thursday followed by a rally on Friday and an overall increase in the sector for the week of almost 1%.


 *Code*  *Closing Price* *    Capital* *    Earnings $*  *ROE*  *Dist $*  *Yield %*  *P/E* *    NTA $*  *Discount to NTA    *           *ALZ*     3.310        1,909,362,236        0.2520        7.61%        0.2150        6.50%        13.13        3.46        4.34%     *BWP*     2.180        1,163,347,822        0.1340        6.15%        0.1350        6.19%        16.27        1.85        -17.84%     *CFX*     1.965        5,557,993,970        0.1442        7.34%        0.1310        6.67%        13.63        2.07        5.07%     *CHC*     3.320        991,632,032        0.0564        1.70%        0.1820        5.48%        58.87        2.13        -55.87%     *CMW*     0.840        1,029,452,788        0.0216        2.57%        0.0706        8.40%        38.89        0.67        -25.37%     *CPA*     1.050        2,464,353,584        0.1066        10.15%        0.0609        5.80%        9.85        1.15        8.70%     *CQR*     3.800        1,248,733,850        0.0324        0.85%        0.2610        6.87%        117.28        3.38        -12.43%     *DXS*     1.020        4,935,804,660        0.0375        3.68%        0.0535        5.25%        27.20        1.00        -2.00%     *FKP*     1.185        381,064,916        0.2940        24.81%        0.0812        6.85%        4.03        4.06        70.81%     *GMG*     4.460        7,589,498,616        0.2704        6.06%        0.1800        4.04%        16.49        2.54        -75.59%     *GPT*     3.560        6,289,754,867        0.1789        5.03%        0.1910        5.37%        19.90        3.65        2.47%     *IOF*     2.960        1,817,580,476        0.1600        5.41%        0.1560        5.27%        18.50        3.14        5.73%     *MGR*     1.510        5,172,637,051        0.1220        8.08%        0.0640        4.24%        12.38        1.66        9.04%     *SCP*     1.495        873,379,000        0.1180        7.89%        0.1040        6.96%        12.67        1.58        5.38%     *SGP*     3.390        7,467,010,495        0.2110        6.22%        0.2400        7.08%        16.07        3.68        7.88%     *WDC*     10.640        23,937,973,697        0.7322        6.88%        0.4895        4.60%        14.53        6.79        -56.70%     *WRT*     3.000        9,162,498,585        0.2690        8.97%        0.1765        5.88%        11.15        3.37        10.98%    

1. The figures for *FKP* are speculative based on my conversion of the information provided in FKP's Annual Report converting the figures based on the number of shares on issue as at 30-6-12 to the number of shares on issue after the August issue. In addition the initial speculative figures have now been adjusted to reflect the consolidation of  7 shares to 1 share. For more information see the FKP thread.

2. The figures for* SCP *(earnings and distributions) are guideline forecasts for the period 2013 - 2014 extracted from the proposal of 5 October 2012 (The forecasts earnings and distributions for the period ending 30 June 2013 are: Earnings of $0.065 per share and Distributions of $0.056 per share).

*Disclaimer*: The figures in the above table may contain errors and should not be relied upon for investment decisions. As always do your own research and good luck  .


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## nulla nulla (22 December 2012)

A very interesting week in the A-REIT sector. Some shares went ex-div on Friday 21/12/12 and their prices jumped earlier in the week then dropped on Friday. The take-over offer for ALZ by GPT is still on the cards despite ALZ saying no thank you. Mirvac was touted, in a newspaper, as making an alternative offer of a merger with ALZ but ALZ said they had not received any proposal from Mirvac and Mirvac said that they were aware of their disclosure obligations and had nothing to disclose. Coy eh? 

The updated table for weekending *21 December 2012 *follows:


 *Code*  *Closing Price*  *Capital*  *Earnings $* *    ROE*  *Dist $*  *Yield %*  *P/E*  *NTA $*  *Discount to NTA*               ALZ        3.440        1,984,352,294        0.2520        7.33%        0.2150        6.25%        13.65        3.46        0.58%        BWP        2.200        1,174,020,738        0.1340        6.09%        0.1350        6.14%        16.42        1.85        -18.92%        CFX        1.915        5,416,569,187        0.1442        7.53%        0.1310        6.84%        13.28        2.07        7.49%        CHC        3.270        976,697,815        0.0564        1.72%        0.1820        5.57%        57.98        2.13        -53.52%        CMW        0.850        1,041,708,178        0.0216        2.54%        0.0706        8.31%        39.35        0.67        -26.87%        CPA        1.020        2,393,943,481        0.1066        10.45%        0.0609        5.97%        9.57        1.15        11.30%        CQR        3.760        1,235,589,283        0.0324        0.86%        0.2610        6.94%        116.05        3.38        -11.24%        DXS        0.990        4,790,633,934        0.0375        3.79%        0.0535        5.40%        26.40        1.00        1.00%        FKP        1.160        373,031,298        0.2940        25.34%        0.0000        0.00%        3.95        4.06        71.43%        GMG        4.320        7,351,263,233        0.2704        6.26%        0.1800        4.17%        15.98        2.54        -70.08%        GPT        3.660        6,466,433,375        0.1789        4.89%        0.1910        5.22%        20.46        3.65        -0.27%        IOF        2.940        1,805,299,527        0.1600        5.44%        0.1560        5.31%        18.38        3.14        6.37%        MGR        1.475        5,052,741,490        0.1220        8.27%        0.0640        4.34%        12.09        1.66        11.14%        SCP        1.550        905,510,000        0.1180        7.61%        0.1040        6.71%        13.14        1.58        1.90%        SGP        3.510        7,731,329,450        0.2110        6.01%        0.2400        6.84%        16.64        3.68        4.62%        WDC        10.560        23,757,988,932        0.7322        6.93%        0.4895        4.64%        14.42        6.79        -55.52%        WRT        3.040        9,284,665,233        0.2690        8.85%        0.1765        5.81%        11.30        3.37        9.79%    

1. The figures for *FKP *are speculative based on information provided in FKP's Annual Report converting the figures based on the number of shares on issue as at 30-6-12 to the number of shares on issue after the August issue. In addition the initial speculative figures have now been adjusted to reflect the consolidation of  7 shares to 1 share with the resultant number of shares taken from the release dated 13 December 2012. Also the distribution/yield have been dropped to zero to reflect that distributions have been suspended for FY13. For more information see the FKP site and announcements ther-in.

2. The figures for *SCP* (earnings and distributions) are guideline forecasts for the period 2013 - 2014 extracted from the proposal of 5 October 2012 Comments ( 08 December 2012):
. The forecasts earnings and distributions for the period ending 30 June 2013 are: Earnings of $0.065 per share and Distributions of $0.056 per share.

*Disclaimer:* The figures in the above table may contain errors and should not be relied upon for investment decisions. As always do your own research and good luck.


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## nulla nulla (1 January 2013)

The last ten days have provided some interesting activity in the A-REIT sector. Most of it appeared to be portfolio juggling in the lead up to Christmas Eve and New Years Eve. Possibly fund managers trying to set themselves up for their bonuses and/or deciding to reweight their holdings before taking their Christmas/New Year break.

After going ex-div on Friday 21st, the volumes dropped off on Monday, Thursday & Friday last week and again on Monday this week. Wednesday through Friday this week it appeared that some shares tried to rally on small volumes only to get slapped back in the close. The Christmas rally was a bit of a non event in the REIT sector, maybe next week will be better (subject of course to the influence of the "Fiscal Cliff" negotiations in the U.S.).

The A-REIT table has been updated as at the closing prices *31 December 2012*:


*Code*  *Closing Price*  *Capital    * *Earnings $*  *ROE*  *Dist $*  *Yield %    * *P/E*  *NTA $*  *Discount to NTA*            *ALZ*     3.400        1,961,278,430        0.2520        7.41%        0.2150        6.32%        13.49        3.46        1.73%     *BWP*     2.160        1,152,674,906        0.1340        6.20%        0.1350        6.25%        16.12        1.85        -16.76%     *CFX*     1.915        5,416,569,187        0.1442        7.53%        0.1310        6.84%        13.28        2.07        7.49%     *CHC*     3.270        976,697,815        0.0564        1.72%        0.1820        5.57%        57.98        2.13        -53.52%     *CMW*     0.840        1,029,452,788        0.0216        2.57%        0.0706        8.40%        38.89        0.67        -25.37%     *CPA*     1.020        2,393,943,481        0.1066        10.45%        0.0609        5.97%        9.57        1.15        11.30%     *CQR*     3.760        1,235,589,283        0.0324        0.86%        0.2610        6.94%        116.05        3.38        -11.24%     *DXS*     1.015        4,911,609,539        0.0375        3.69%        0.0535        5.27%        27.07        1.00        -1.50%     *FKP*     1.130        363,383,937        0.2940        26.02%        0.0000        0.00%        3.84        4.06        72.17%     *GMG*     4.330        7,368,280,046        0.2704        6.24%        0.1800        4.16%        16.01        2.54        -70.47%     *GPT*     3.680        6,501,769,076        0.1789        4.86%        0.1910        5.19%        20.57        3.65        -0.82%     *IOF*     2.970        1,823,720,950        0.1600        5.39%        0.1560        5.25%        18.56        3.14        5.41%     *MGR*     1.485        5,086,997,365        0.1220        8.22%        0.0640        4.31%        12.17        1.66        10.54%     *SCP*     1.500        876,300,000        0.1180        7.87%        0.1040        6.93%        12.71        1.58        5.06%     *SGP*     3.530        7,775,382,609        0.2110        5.98%        0.2400        6.80%        16.73        3.68        4.08%     *WDC    *    10.560        23,757,988,932        0.7322        6.93%        0.4895        4.64%        14.42        6.79        -55.52%     *WRT*     3.020        9,223,581,909        0.2690        8.91%        0.1765        5.84%        11.23        3.37        10.39%    


1. The figures for* FKP *are speculative based on information provided in FKP's Annual Report converting the figures based on the number of shares on issue as at 30-6-12 to the number of shares on issue after the August issue. In addition the initial speculative figures have now been adjusted to reflect the consolidation of  7 shares to 1 share with the resultant number of shares taken from the release dated 13 December 2012. For more information see the FKP site.

2. The figures for* SCP *(earnings and distributions) are guideline forecasts for the period 2013 - 2014 extracted from the proposal of 5 October 2012 Comments ( 08 December 2012):
. The forecasts earnings and distributions for the period ending 30 June 2013 are: Earnings of $0.065 per share and Distributions of $0.056 per share.

*Disclaimer:* The figures in the above table may contain errors and should not be relied upon for investment decisions. As always do your own research and good luck. And a Happy and prosperous New Year to all.


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## nulla nulla (6 January 2013)

The update to the A-REIT table follows for the closing prices week ending *04 January 2013*:


*Code*  *Closing Price* *    Capital*  *Earnings $*  *ROE*  *Dist $*  *Yield %* *    P/E* *    NTA $* *    Discount to NTA*           *    ALZ*     3.330        1,920,899,168        0.2520        7.57%        0.2150        6.46%        13.21        3.46        3.76%     *BWP    *    2.180        1,163,347,822        0.1340        6.15%        0.1350        6.19%        16.27        1.85        -17.84%     *CFX*     1.920        5,430,711,665        0.1442        7.51%        0.1310        6.82%        13.31        2.07        7.25%     *CHC*     3.330        994,618,876        0.0564        1.69%        0.1820        5.47%        59.04        2.13        -56.34%     *CMW*     0.840        1,029,452,788        0.0216        2.57%        0.0706        8.40%        38.89        0.67        -25.37%     *CPA*     1.015        2,382,208,464        0.1066        10.50%        0.0609        6.00%        9.52        1.15        11.74%     *CQR*     3.790        1,245,447,708        0.0324        0.85%        0.2610        6.89%        116.98        3.38        -12.13%     *DXS*     0.985        4,766,438,813        0.0375        3.81%        0.0535        5.43%        26.27        1.00        1.50%     *FKP*     1.195        384,286,552        0.2940        24.60%        0.0000        0.00%        4.06        4.06        70.57%     *GMG*     4.370        7,436,347,298        0.2704        6.19%        0.1800        4.12%        16.16        2.54        -72.05%     *GPT*     3.670        6,484,101,225        0.1789        4.87%        0.1910        5.20%        20.51        3.65        -0.55%     *IOF*     2.950        1,811,440,001        0.1600        5.42%        0.1560        5.29%        18.44        3.14        6.05%     *MGR*     1.475        5,052,741,490        0.1220        8.27%        0.0640        4.34%        12.09        1.66        11.14%     *SCP*     1.505        879,221,000        0.1180        7.84%        0.1040        6.91%        12.75        1.58        4.75%     *SGP*     3.530        7,775,382,609        0.2110        5.98%        0.2400        6.80%        16.73        3.68        4.08%     *WDC*     10.520        23,667,996,550        0.7322        6.96%        0.4895        4.65%        14.37        6.79        -54.93%     *WRT*     3.020        9,223,581,909        0.2690        8.91%        0.1765        5.84%        11.23        3.37        10.39%    

Some up, some down but the sector seemed to miss out on the Christmas rally. There seems to be a genuine lack of confidence and enthusiasm last week. Most of the big brokers/fund managers are still on holiday next week so I am not expecting any dramatic improvements or falls. Most of the action will be driven by the retail share holders so I anticipate that volumes will be thin. There could be some entry oportunities for those confident enough to enter on the recent retrace of some of the shares. Others may decide it is better to wait until volumes pick up a little and trends/patterns re-establish themselves.

1. The figures for *FKP* are speculative based on information provided in FKP's Annual Report converting the figures based on the number of shares on issue as at 30-6-12 to the number of shares on issue after the August issue. In addition the initial speculative figures have now been adjusted to reflect the consolidation of 7 shares to 1 share with the resultant number of shares taken from the release dated 13 December 2012. For more information see the FKP site.

2. The figures for* SCP *(earnings and distributions) are guideline forecasts for the period 2013 - 2014 extracted from the proposal of 5 October 2012 Comments ( 08 December 2012):
. The forecasts earnings and distributions for the period ending 30 June 2013 are: Earnings of $0.065 per share and Distributions of $0.056 per share.

*Disclaimer*: The figures in the above table may contain errors and should not be relied upon for investment decisions. As always do your own research and good luck.


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## nulla nulla (20 January 2013)

*A-REIT's *returned to favour over the last two weeks with some shares up significantly returning to the levels before they went exdiv. An up dated table for the closing prices as at *18 January 2013 *follows:


*Code    * *Closing Price*  *Capital*  *Earnings $*  *ROE*  *Dist $*  *Yield %* *    P/E*  *NTA $*  *Discount to NTA*            *ALZ*     3.430        1,978,583,828        0.2520        7.35%        0.2150        6.27%        13.61        3.46        0.87%     *BWP*     2.260        1,206,039,485        0.1340        5.93%        0.1350        5.97%        16.87        1.85        -22.16%     *CFX*     1.995        5,642,848,840        0.1442        7.23%        0.1310        6.57%        13.83        2.07        3.62%     *CHC*     3.280        979,684,658        0.0564        1.72%        0.1820        5.55%        58.16        2.13        -53.99%     *CMW*     0.835        1,023,325,093        0.0216        2.59%        0.0706        8.46%        38.66        0.67        -24.63%     *CPA*     1.120        2,628,643,823        0.1066        9.52%        0.0609        5.44%        10.51        1.15        2.61%     *CQR*     3.670        1,206,014,008        0.0324        0.88%        0.2610        7.11%        113.27        3.38        -8.58%     *DXS*     1.015        4,911,609,539        0.0375        3.69%        0.0535        5.27%        27.07        1.00        -1.50%     *FKP*     1.545        496,839,099        0.2940        19.03%        0.0000        0.00%        5.26        4.06        61.95%     *GMG*     4.470        7,606,515,429        0.2704        6.05%        0.1800        4.03%        16.53        2.54        -75.98%     *GPT*     3.600        6,360,426,270        0.1789        4.97%        0.1910        5.31%        20.12        3.65        1.37%     *IOF*     3.010        1,848,282,849        0.1600        5.32%        0.1560        5.18%        18.81        3.14        4.14%     *MGR*     1.560        5,343,916,424        0.1220        7.82%        0.0640        4.10%        12.79        1.66        6.02%     *SCP*     1.585        925,957,000        0.1180        7.44%        0.1040        6.56%        13.43        1.58        -0.32%     *SGP*     3.530        7,775,382,609        0.2110        5.98%        0.2400        6.80%        16.73        3.68        4.08%     *WDC*     10.990        24,725,407,042        0.7322        6.66%        0.4895        4.45%        15.01        6.79        -61.86%     *WRT*     3.090        9,437,373,543        0.2690        8.71%        0.1765        5.71%        11.49        3.37        8.31%    

1. The figures for* FKP *are speculative based on information provided in FKP's Annual Report converting the figures based on the number of shares on issue as at 30-6-12 to the number of shares on issue after the August issue. In addition the initial speculative figures have now been adjusted to reflect the consolidation of  7 shares to 1 share with the resultant number of shares taken from the release dated 13 December 2012. For more information see the FKP site.

2. The figures for *SCP* (earnings and distributions) are guideline forecasts for the period 2013 - 2014 extracted from the proposal of 5 October 2012 Comments ( 08 December 2012):
. The forecasts earnings and distributions for the period ending 30 June 2013 are: Earnings of $0.065 per share and Distributions of $0.056 per share.

*Disclaimer*: The figures in the above table may contain errors and should not be relied upon for investment decisions. As always do your own research and good luck.


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## nulla nulla (27 January 2013)

A-REIT's came back in favour this week with some notable climbs accross the sector and standouts by the likes of Dexus and Investa Office. An updated table of the A-REIT fundamentals for the closing prices on *25 January 2013 *follows:


*Code* *Closing Price*  *Capital*  *Earnings $*  *ROE*  *Dist $*  *Yield %*  *P/E* *    NTA $*  *Discount to NTA*           ALZ    3.410        1,967,046,896        0.2520        7.39%        0.2150        6.30%        13.53        3.46        1.45%    BWP    2.310        1,232,721,775        0.1340        5.80%        0.1350        5.84%        17.24        1.85        -24.86%     CFX     2.030        5,741,846,188        0.1442        7.10%        0.1310        6.45%        14.08        2.07        1.93%    CHC    3.360        1,003,579,406        0.0564        1.68%        0.1820        5.42%        59.57        2.13        -57.75%    CMW    0.855        1,047,835,873        0.0216        2.53%        0.0706        8.26%        39.58        0.67        -27.61%     CPA     1.115        2,616,908,805        0.1066        9.56%        0.0609        5.46%        10.46        1.15        3.04%    CQR    3.760        1,235,589,283        0.0324        0.86%        0.2610        6.94%        116.05        3.38        -11.24%     DXS     1.060        5,129,365,627        0.0375        3.54%        0.0535        5.05%        28.27        1.00        -6.00%     *FKP*     1.650        530,604,863        0.2940        17.82%        0.0000        0.00%        5.61        4.06        59.36%     GMG     4.500        7,657,565,868        0.2704        6.01%        0.1800        4.00%        16.64        2.54        -77.17%     GPT     3.690        6,519,436,927        0.1789        4.85%        0.1910        5.18%        20.63        3.65        -1.10%     *IOF*     3.070        1,885,125,696        0.1600        5.21%        0.1560        5.08%        19.19        3.14        2.23%     MGR     1.560        5,343,916,424        0.1220        7.82%        0.0640        4.10%        12.79        1.66        6.02%     *SCP*     1.595        931,799,000        0.1180        7.40%        0.1040        6.52%        13.52        1.58        -0.95%     SGP     3.510        7,731,329,450        0.2110        6.01%        0.2400        6.84%        16.64        3.68        4.62%     WDC     10.970        24,680,410,851        0.7322        6.67%        0.4895        4.46%        14.98        6.79        -61.56%     *WRT*     3.170        9,681,706,838        0.2690        8.49%        0.1765        5.57%        11.78        3.37        5.93%    

1. The figures for* FKP *are speculative based on information provided in FKP's Annual Report converting the figures based on the number of shares on issue as at 30-6-12 to the number of shares on issue after the August issue. In addition the initial speculative figures have now been adjusted to reflect the consolidation of  7 shares to 1 share with the resultant number of shares taken from the release dated 13 December 2012. For more information see the FKP site.

2. The figures for* SCP *(earnings and distributions) are guideline forecasts for the period 2013 - 2014 extracted from the proposal of 5 October 2012 Comments ( 08 December 2012):
. The forecasts earnings and distributions for the period ending 30 June 2013 are: Earnings of $0.065 per share and Distributions of $0.056 per share.

The table has been updated with the stock codes now providing a direct link to the corresponding thread within AussieStockForums for most of the codes (Work in progress with a high degree of dificulty). Some of the threads appear to receive more support than others which makes me wonder if there are a few opportunities going begging in the A-REIT sector. If anyone finds any "misdirected connections" please feel free to pm me rather than clutter the thread with posts about errors.

*Disclaimer: *The figures in the above table may contain errors and should not be relied upon for investment decisions. As always do your own research and good luck .


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## nulla nulla (27 January 2013)

Code        Closing Price        Capital        Earnings $        ROE        Dist $        Yield %        P/E        NTA $        Discount to NTA               ALZ     3.410        1,967,046,896        0.2520        7.39%        0.2150        6.30%        13.53        3.46        1.45%     BWP     2.310        1,232,721,775        0.1340        5.80%        0.1350        5.84%        17.24        1.85        -24.86%     CFX     2.030        5,741,846,188        0.1442        7.10%        0.1310        6.45%        14.08        2.07        1.93%     CHC     3.360        1,003,579,406        0.0564        1.68%        0.1820        5.42%        59.57        2.13        -57.75%     CMW     0.855        1,047,835,873        0.0216        2.53%        0.0706        8.26%        39.58        0.67        -27.61%     CPA     1.115        2,616,908,805        0.1066        9.56%        0.0609        5.46%        10.46        1.15        3.04%     CQR     3.760        1,235,589,283        0.0324        0.86%        0.2610        6.94%        116.05        3.38        -11.24%     DXS     1.060        5,129,365,627        0.0375        3.54%        0.0535        5.05%        28.27        1.00        -6.00%     FKP     1.650        530,604,863        0.2940        17.82%        0.0000        0.00%        5.61        4.06        59.36%     GMG     4.500        7,657,565,868        0.2704        6.01%        0.1800        4.00%        16.64        2.54        -77.17%     GPT     3.690        6,519,436,927        0.1789        4.85%        0.1910        5.18%        20.63        3.65        -1.10%     IOF     3.070        1,885,125,696        0.1600        5.21%        0.1560        5.08%        19.19        3.14        2.23%     MGR     1.560        5,343,916,424        0.1220        7.82%        0.0640        4.10%        12.79        1.66        6.02%     SCP     1.595        931,799,000        0.1180        7.40%        0.1040        6.52%        13.52        1.58        -0.95%     SGP     3.510        7,731,329,450        0.2110        6.01%        0.2400        6.84%        16.64        3.68        4.62%     WDC     10.970        24,680,410,851        0.7322        6.67%        0.4895        4.46%        14.98        6.79        -61.56%     WRT     3.170        9,681,706,838        0.2690        8.49%        0.1765        5.57%        11.78        3.37        5.93%    

1. The figures for* FKP *are speculative based on information provided in FKP's Annual Report converting the figures based on the number of shares on issue as at 30-6-12 to the number of shares on issue after the August issue. In addition the initial speculative figures have now been adjusted to reflect the consolidation of 7 shares to 1 share with the resultant number of shares taken from the release dated 13 December 2012. For more information see the FKP site.

2. The figures for *SCP* (earnings and distributions) are guideline forecasts for the period 2013 - 2014 extracted from the proposal of 5 October 2012 Comments ( 08 December 2012):
. The forecasts earnings and distributions for the period ending 30 June 2013 are: Earnings of $0.065 per share and Distributions of $0.056 per share.

The table has been updated with the stock codes now providing a direct link to the corresponding thread within AussieStockForums for most of the codes (WRT is proving to be a problem, wonder if it is an omen  ).  If anyone finds any "misdirected connections" please feel free to pm me rather than clutter the thread with posts about errors.

*Disclaimer:* The figures in the above table may contain errors and should not be relied upon for investment decisions. As always do your own research and good luck.


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## hotchy (27 January 2013)

What do you think of GOZ?


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## nulla nulla (2 February 2013)

The money continued to poor in this week into the* A-REIT *sector. The newspapers suggest that there was an element of panic buying, some groups clamouring to get aboard in case they miss out on the start of a bull market rally. Most of it seems to be yield return buyers anticipating further interest rate cuts and a drop off in the returns from bonds and bank deposits. The updated table for week ending *1 February 2013 *follows:



*Code*  *Closing Price*  *Capital*  *Earnings $*  *ROE*  *Dist $*  *Yield %*  *P/E*  *NTA $*  *Discount to NTA*            ALZ     3.470        2,001,657,692        0.2520        7.26%        0.2150        6.20%        13.77        3.46        -0.29%     BWP     2.400        1,280,749,896        0.1340        5.58%        0.1350        5.63%        17.91        1.85        -29.73%     CFX     2.020        5,713,561,231        0.1442        7.14%        0.1310        6.49%        14.01        2.07        2.42%     CHC     3.470        1,036,434,684        0.0564        1.63%        0.1820        5.24%        61.52        2.13        -62.91%     CMW     0.870        1,066,218,959        0.0216        2.48%        0.0706        8.11%        40.28        0.67        -29.85%     CPA     1.125        2,640,378,840        0.1066        9.48%        0.0609        5.41%        10.55        1.15        2.17%     CQR     3.920        1,288,167,550        0.0324        0.83%        0.2610        6.66%        120.99        3.38        -15.98%     DXS     1.060        5,129,365,627        0.0375        3.54%        0.0535        5.05%        28.27        1.00        -6.00%     FKP     1.740        559,546,947        0.2940        16.90%        0.0000        0.00%        5.92        4.06        57.14%     GMG     4.640        7,895,801,251        0.2704        5.83%        0.1800        3.88%        17.16        2.54        -82.68%     GPT     3.830        6,766,786,837        0.1789        4.67%        0.1910        4.99%        21.41        3.65        -4.93%     IOF     3.080        1,891,266,171        0.1600        5.19%        0.1560        5.06%        19.25        3.14        1.91%     MGR     1.590        5,446,684,047        0.1220        7.67%        0.0640        4.03%        13.03        1.66        4.22%     SCP     1.630        952,246,000        0.1180        7.24%        0.1040        6.38%        13.81        1.58        -3.16%     SGP     3.460        7,621,196,552        0.2110        6.10%        0.2400        6.94%        16.40        3.68        5.98%     WDC     11.290        25,400,349,910        0.7322        6.49%        0.4895        4.34%        15.42        6.79        -66.27%        WRT        3.190        9,742,790,162        0.2690        8.43%        0.1765        5.53%        11.86        3.37        5.34%    


1. The figures for* FKP *are speculative based on information provided in FKP's Annual Report converting the figures based on the number of shares on issue as at 30-6-12 to the number of shares on issue after the August issue. In addition the initial speculative figures have now been adjusted to reflect the consolidation of  7 shares to 1 share with the resultant number of shares taken from the release dated 13 December 2012. For more information see the FKP site.

2. The figures for* SCP *(earnings and distributions) are guideline forecasts for the period 2013 - 2014 extracted from the proposal of 5 October 2012. The forecasts earnings and distributions for the period ending 30 June 2013 are: Earnings of $0.065 per share and Distributions of $0.056 per share.

*Disclaimer:* The figures in the above table may contain errors and should not be relied upon for investment decisions. As always do your own research and good luck  .

The table has been updated with the stock codes now providing a direct link to the corresponding thread within AussieStockForums. Some of the threads appear to receive more support than others.  If anyone finds any "misdirected connections" please feel free to pm me rather than clutter the thread with posts about errors.

As always, do your own research and good luck.


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## sinner (3 February 2013)

Hey nulla,

Good stuff. But I heard for REIT the correct valuation model to use is Price/FFO ratio (Funds From Operations) rather than P/E.

Thoughts? Here is an example site I got from googling "reit ffo"

http://www.investopedia.com/articles/04/112204.asp


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## nulla nulla (7 February 2013)

sinner said:


> Hey nulla,
> 
> Good stuff. But I heard for REIT the correct valuation model to use is Price/FFO ratio (Funds From Operations) rather than P/E.
> 
> ...




Thanks Sinner. It is an interesting article and perspective. I'm not sure that I have noticed depreciation in the Annual Reports of A-REIT's as a deduction before arriving at net Income. 

I believe property revaluations have impacted on the bottom line (up and down) in some. I know for certain that the devaluation of property portfolio's has led to a drop in nta and the market has sold down the price of various REIT shares accordingly. 

For now I will continue with Earnings as reported, but will look more closely into FFO and AFFO to determine whether I should amend the table. 

Thanks & cheers.


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## coolcup (7 February 2013)

Hi nulla nulla

For the sake of discussion and with all respect, I think your table is a very traditional way of looking at the REIT sector about 10 years ago when all the REITs were basically rent collectors. I think some things have changed which make some of the columns a little less relevant without broader context. Let me set out my thoughts below for discussion.

1. ROE - I think all you are doing here is taking EPS and dividing by the share price? So it is just the inverse of the P/E ratio? This is not the true ROE of a REIT. The ROE should include the capital growth of the underlying property portfolio as this is marked to market every reporting period. A better measure of underlying ROE is distributions (ie income) plus movement in NTA (ie capital growth) to give a total equity return. Otherwise, the column is not much more helpful than the P/E

2. Yield - this is useful but not without the context of expected growth in distributions. For example, from your table, Goodman Group has a low yield of sub 4% and yet was one of the top performing A-REITs last year. This is because they have a low payout ratio and are retaining earnings to grow the underlying platform, so the expected distribution growth is quite high (~6%). SCP on the other hand has a higher yield of around 6% because their growth profile is much more subdued (1-2% per annum) due to the nature of the leases that Woolworths has placed within those assets. I don't think yield on its own gives a full picture.

3. Discount to NTA - I think this is a useful measure for the REITs which simply hold passive rent collecting assets. These are revalued every year and so the true underlying value of the portfolio is reflected in the NTA, and you can compare that to the share price. In this bucket I include GPT, CPA, CQR, DXS, BWP, etc. For REITs with more diverse activities such as development the NTA is not a true reflection of value (eg SGP, ALZ, MGR). Take for example Mirvac today who had to write down a large amount of their residential inventory. The development inventory is held on balance sheet at the lower of cost or realisable value NOT at market value like the investment properties. Similarly, a REIT like Goodman and Westfield have a large amount of earnings streams from funds / development management operations which have no asset backing. Hence they trade at large premiums to NTA as these earnings streams are real and so are valued by the market, despite having no real asset backing behind them.

I would propose that a better model is looking at the P/E ratio and expected growth in earnings alongside the business model / level of earnings certainty provided by each group. I would also group the rent collector REITs together and the more active REITs in a separate pile. It simply does not make sense to have stocks like Goodman, Charter Hall, FKP, SGP, MGR, ALZ and WDC in the same bucket as CPA, GPT, DXS, BWP, WRT. The business models are very different as are the underlying risks in the nature of their activities and earnings.

Happy to discuss and I do not mean any disrespect by any of the above comments at all.


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## coolcup (7 February 2013)

nulla nulla said:


> Thanks Sinner. It is an interesting article and perspective. I'm not sure that I have noticed depreciation in the Annual Reports of A-REIT's as a deduction before arriving at net Income.
> 
> I believe property revaluations have impacted on the bottom line (up and down) in some. I know for certain that the devaluation of property portfolio's has led to a drop in nta and the market has sold down the price of various REIT shares accordingly.
> 
> ...




On AFFO while theoretically a better way of valuing than earnings, there is no unified approach to determining what is included and excluded on an AFFO basis for the A_REIT sector (unlike the US REITs which have a very standardised FFO definition). So while in theory AFFO multiples are a sensible idea, they are disclosed and reported in a very haphazard way making comparison not apples for apples.


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## nulla nulla (9 February 2013)

coolcup said:


> Hi nulla nulla
> 
> For the sake of discussion and with all respect, I think your table is a very traditional way of looking at the REIT sector about 10 years ago when all the REITs were basically rent collectors. I think some things have changed which make some of the columns a little less relevant without broader context. Let me set out my thoughts below for discussion....
> 
> ...




No offence taken coolcup, and I'm sure you also will not be offended when I agree to disagree with the content of your post.

This thread was started by Bushman on 11 June 2010. At the time of my first post with the initial table on 18 June 2012 (some two years later) there had been 3000+ views but no replies. Since my first response with the table there has been a further 3000+ views.  The table is just that, a table of the major A-REIT's as extracted from the AXO property sector. 

The table is made up of the basic fundamental financial information available. Some of the information has been gleaned from ComescIress as stated in the earier posts (which I understand is source from Huntley's) and some of the information is sourced from Annual Reports and or press releases. There is no differentiating between the A-REIT's in accordance with whether they specialise in Offices, Retail outlets, Residential development sites, Industrial sites, Retirement villages or a mixture of the aforementioned. I have no desire to create sub divisions with in the sector of like for like A-REIT's. In my opinion it would be more trouble than it would be worth.

The information I post is as much for my own purposes as it is for anyone else to look at. I don't invest/trade in every share listed but I do invest/trade in several of them. The table simply presents the fundamentals at the end of a given period for comparitive information only and is not intented to be the basis for any one to make investment decisions. I end each post with the line "As always do your own research".

As for changing the format of the table to expand/replace *ROE*, *Yield*, *Discount on NTA*, I find that the table format tool is very restrictive in the number of columns and width of columns that it will allow. The alternative of creating a spreadsheet, saving it as a picture, then posting the image doesn't appeal to me as the data would become miniscule and difficult for anyone to read. Further, as I mentioned in one of my earlier posts, I am risk adverse and I personaly factor in these three fundamental items in my own assessments whether to invest/trade or not.  

Of course if you wish to start seperate threads for groupings of like for like A-REIT's, as you have outlined above, I'm sure you would get plenty of interest and support.


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## coolcup (9 February 2013)

Hi nulla nulla

My apologies if I have offended you, I was not meaning to downplay the relevance of the metrics of your table and understand that the limitations of the forum features in terms of creating tables etc means simplifying things is a necessity. I was simply trying to engage in a dialogue on the most meaningful A-REIT valuation methodologies. As you say, it best for everyone to do their own research.

Apologies for not understanding the background to the thread. As I am new to these forums, I was simply going off the title. I would say though that most institutional investors in the A-REIT sector do not really use some of the metrics in the way you have put forward in your table for making their investment decisions for the reasons I articulated above.

All the best.

Cheers


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## nulla nulla (9 February 2013)

coolcup said:


> Hi nulla nulla
> 
> My apologies if I have offended you, I was not meaning to downplay the relevance of the metrics of your table and understand that the limitations of the forum features in terms of creating tables etc means simplifying things is a necessity. I was simply trying to engage in a dialogue on the most meaningful A-REIT valuation methodologies. As you say, it best for everyone to do their own research.
> 
> ...




No offence taken coolcup. If I was providing comparative information on like for like A-REIT's to a paying subscriber base of clients as a basis for recommending buy/hold/sell positions I would make a point of segregating the A-REIT's in the manner that you suggest as well as looking more closely at the merits of identifying FFO and AFFO in respect of ROE as it is interpreted and applied in Australia. I doubt that I would include anticipated or speculative forecasted earnings or value growth as in my opinion they are estimates or forecasts of a future event that may not eventuate. However, the data I produce is basic readily available free material and I do it for the heck of it. 

Cheers and best regards, it is always good to get a fresh perspective.


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## nulla nulla (9 February 2013)

The A-REIT sector took another hike this week following on from the euphoria sweeping Europe and the U.S and most of the AOX. Some of the A-REIT's are now trading at 3 year highs well above their NTA values. Looking at some of the charts it is like watching a bubble swelling to the point it must break. The updated table for Weekending *8 February 2013 *follows:


*Code*  *Closing Price*  *Capital* *	Earnings $*  *ROE*  *Dist $*  *Yield %*  *P/E*  *NTA $*  *Discount to NTA*            ALZ 	3.400		1,961,278,430		0.2520		7.41%		0.2150		6.32%		13.49		3.46		1.73%	 BWP 	2.430		1,296,759,270		0.1340		5.51%		0.1350		5.56%		18.13		1.85		-31.35%	 CFX 	2.070		5,854,986,014		0.1442		6.97%		0.1310		6.33%		14.36		2.07		0.00%	 CHC 	3.700		1,105,132,084		0.0564		1.52%		0.1820		4.92%		65.60		2.13		-73.71%	 CMW 	0.885		1,084,602,044		0.0216		2.44%		0.0706		7.98%		40.97		0.67		-32.09%	 CPA 	1.130		2,652,113,857		0.1066		9.43%		0.0609		5.39%		10.60		1.15		1.74%	 CQR 	4.040		1,327,601,251		0.0324		0.80%		0.2610		6.46%		124.69		3.38		-19.53%	 DXS 	1.090		5,274,536,352		0.0375		3.44%		0.0535		4.91%		29.07		1.00		-9.00%	 FKP 	1.655		532,212,757		0.2940		17.76%		0.0000		0.00%		5.63		4.06		59.24%	 GMG 	4.700		7,997,902,129		0.2704		5.75%		0.1800		3.83%		17.38		2.54		-85.04%	 GPT 	3.880		6,855,126,091		0.1789		4.61%		0.1910		4.92%		21.69		3.65		-6.30%	 IOF 	3.120		1,915,828,069		0.1600		5.13%		0.1560		5.00%		19.50		3.14		0.64%	 MGR 	1.595		5,463,811,984		0.1220		7.65%		0.0640		4.01%		13.07		1.66		3.92%	 SCP 	1.645		961,009,000		0.1180		7.17%		0.1040		6.32%		13.94		1.58		-4.11%	 SGP 	3.410		7,511,063,654		0.2110		6.19%		0.2400		7.04%		16.16		3.68		7.34%	 WDC 	11.050		24,860,395,616		0.7322		6.63%		0.4895		4.43%		15.09		6.79		-62.74%		WRT		3.120		9,528,998,528		0.2690		8.62%		0.1765		5.66%		11.60		3.37		7.42%	

1. The figures for *FKP* are speculative based on information provided in FKP's Annual Report converting the figures based on the number of shares on issue as at 30-6-12 to the number of shares on issue after the August issue. In addition the initial speculative figures have now been adjusted to reflect the consolidation of  7 shares to 1 share with the resultant number of shares taken from the release dated 13 December 2012. For more information see the FKP site.

2. The figures for *SCP* (earnings and distributions) are guideline forecasts for the period 2013 - 2014 extracted from the proposal of 5 October 2012 Comments ( 08 December 2012): 
. The forecasts earnings and distributions for the period ending 30 June 2013 are: Earnings of $0.065 per share and Distributions of $0.056 per share.

*Disclaimer:* The figures in the above table may contain errors and should not be relied upon for investment decisions. As always do your own research and good luck  . 

The table has been updated with the stock codes now providing a direct link to the corresponding thread within AussieStockForums. Some of the threads appear to receive more support than others which makes me wonder if there are a few opportunities going begging in the A-REIT sector. If anyone finds any "misdirected connections" please feel free to pm me rather than clutter the thread with posts about errors.


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## nulla nulla (16 February 2013)

This week the majority of the shares in the A-REIT sector took a retrace from their recent highs. Many of them were trading at three year highs, above their NTA. This week there appeared to be a bit of a sell off by profit takers. The exception was SGP which opened at $3.36 on Monday but rapidly recovered through the day to $3.48. Tuesday saw heavy trading on sgp after the release of the annual report. While in previous weeks sgp lagged the rest of the A-REIT shares, this week saw sgp climb back to high $3.60's before closing out the week on $3.57. Looks like the market likes the new broom.

The reporting season is in full swing and some of the shares such as Dexus and GPT have actualy dropped off after posting good results with confidence for the future. Go figure, eh?  The table for the closing prices weekending *15 February 2013 *follows, some of the NTA values and Earnings values will be wrong but will be adjusted next week as and when I get time to extract the data from the reports and update the table:


*Code*  *Closing Price*  *Capital*  *Earnings $*  *ROE*  *Dist $*  *Yield %*  *P/E*  *NTA $*  *Discount to NTA*            ALZ 	3.410		1,967,046,896		0.2520		7.39%		0.2150		6.30%		13.53		3.46		1.45%	 BWP 	2.300		1,227,385,317		0.1340		5.83%		0.1350		5.87%		17.16		1.85		-24.32%	 CFX 	2.070		5,854,986,014		0.1442		6.97%		0.1310		6.33%		14.36		2.07		0.00%	 CHC 	3.570		1,066,303,119		0.0564		1.58%		0.1820		5.10%		63.30		2.13		-67.61%	 CMW 	0.915		1,121,368,215		0.0216		2.36%		0.0706		7.72%		42.36		0.67		-36.57%	 CPA 	1.085		2,546,498,703		0.1066		9.82%		0.0609		5.61%		10.18		1.15		5.65%	 CQR 	3.880		1,275,022,983		0.0324		0.84%		0.2610		6.73%		119.75		3.38		-14.79%	 DXS 	1.040		5,032,585,143		0.0375		3.61%		0.0535		5.14%		27.73		1.00		-4.00%	 FKP 	1.535		493,623,312		0.2940		19.15%		0.0000		0.00%		5.22		4.06		62.19%	 GMG 	4.520		7,691,599,494		0.2704		5.98%		0.1800		3.98%		16.72		2.54		-77.95%	 GPT 	3.780		6,678,447,584		0.1789		4.73%		0.1910		5.05%		21.13		3.65		-3.56%	 IOF 	3.060		1,878,985,221		0.1600		5.23%		0.1560		5.10%		19.13		3.14		2.55%	 MGR 	1.545		5,292,532,612		0.1220		7.90%		0.0640		4.14%		12.66		1.66		6.93%	 SCP 	1.630		952,246,000		0.1180		7.24%		0.1040		6.38%		13.81		1.58		-3.16%	 SGP 	3.570		7,863,488,928		0.2110		5.91%		0.2400		6.72%		16.92		3.68		2.99%	 WDC 	10.970		24,680,410,851		0.7322		6.67%		0.4895		4.46%		14.98		6.79		-61.56%		WRT		3.040		9,284,665,233		0.2690		8.85%		0.1765		5.81%		11.30		3.37		9.79%	

*1.* The figures for *FKP* are speculative based on information provided in FKP's Annual Report converting the figures based on the number of shares on issue as at 30-6-12 to the number of shares on issue after the August issue. In addition the initial speculative figures have now been adjusted to reflect the consolidation of  7 shares to 1 share with the resultant number of shares taken from the release dated 13 December 2012. For more information see the FKP site.

*2.* The figures for *SCP* (earnings and distributions) are guideline forecasts for the period 2013 - 2014 extracted from the proposal of 5 October 2012 Comments ( 08 December 2012): 
. The forecasts earnings and distributions for the period ending 30 June 2013 are: Earnings of $0.065 per share and Distributions of $0.056 per share.

*Disclaimer:* The figures in the above table may contain errors and should not be relied upon for investment decisions. As always do your own research and good luck  .


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## nulla nulla (25 February 2013)

Bit of a hectic weekend didn't leave me much time to update the A-REIT Table. The following figures are for the closing prices as at *22 February 2013*:


*Code*  *Closing Price*  *Capital*  *Earnings $*  *ROE*  *Dist $*  *Yield %*  *P/E*  *NTA $*  *Discount to NTA*            ALZ 	3.480		2,007,426,158		0.3120		8.97%		0.2150		6.18%		11.15		3.46		-0.58%	 BWP 	2.280		1,216,712,401		0.1645		7.21%		0.1387		6.08%		13.86		1.87		-21.93%	 CFX 	2.040		5,770,131,144		0.1442		7.07%		0.1340		6.57%		14.15		2.05		0.49%	 CHC 	3.650		1,090,197,867		0.0564		1.55%		0.1890		5.18%		64.72		2.13		-71.36%	 CMW 	0.905		1,109,112,825		0.0526		5.81%		0.0712		7.87%		17.21		0.68		-33.09%	 CPA 	1.075		2,523,028,669		0.1066		9.92%		0.0640		5.95%		10.08		1.15		6.52%	 CQR 	3.840		1,261,878,417		0.0688		1.79%		0.2640		6.88%		55.81		3.31		-16.01%	 DXS 	1.045		5,056,780,264		0.0680		6.51%		0.0557		5.33%		15.37		1.03		-1.46%	 FKP 	1.525		490,407,525		0.2940		19.28%		0.0000		0.00%		5.19		4.06		62.44%	 GMG 	4.700		7,997,902,129		0.2704		5.75%		0.1870		3.98%		17.38		2.54		-85.04%	 GPT 	3.870		6,837,458,240		0.3360		8.68%		0.1930		4.99%		11.52		3.73		-3.75%	 IOF 	3.050		1,872,844,747		0.1600		5.25%		0.1655		5.43%		19.06		3.14		2.87%	 MGR 	1.585		5,429,556,110		0.0864		5.45%		0.0860		5.43%		18.34		1.64		3.35%	 SCP 	1.615		943,483,000		0.1180		7.31%		0.1040		6.44%		13.69		1.58		-2.22%	 SGP 	3.670		8,083,754,724		0.0130		0.35%		0.2400		6.54%		282.31		3.49		-5.16%	 WDC 	11.000		24,747,905,138		0.7322		6.66%		0.4950		4.50%		15.02		6.79		-62.00%		WRT		3.170		9,681,706,838		0.2690		8.49%		0.1875		5.91%		11.78		3.37		5.93%	

*1*. The figures for* F*KP are speculative based on information provided in FKP's Annual Report converting the figures based on the number of shares on issue as at 30-6-12 to the number of shares on issue after the August issue. In addition the initial speculative figures have now been adjusted to reflect the consolidation of  7 shares to 1 share with the resultant number of shares taken from the release dated 13 December 2012. For more information see the FKP site.

*2*. The figures for *SCP* (earnings and distributions) are guideline forecasts for the period 2013 - 2014 extracted from the proposal of 5 October 2012 Comments ( 08 December 2012): 
. The forecasts earnings and distributions for the period ending 30 June 2013 are: Earnings of $0.065 per share and Distributions of $0.056 per share.

*Disclaimer*: The figures in the above table may contain errors and should not be relied upon for investment decisions. As always do your own research and good luck.


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## nulla nulla (2 March 2013)

A couple of articles in this weeks Sydney Morning Herald Business section stood out, for me, and I thought they were worth a mention here. 

The fist one was in Mondays paper by Matthew Kidman in respect of the increase in the price earnings ratios of some of the higher yield stocks in the ASX causing Yield compression. While Mr Kidman addresses mostly the likes of the banks, telstra, Woolies etc it is equaly relevent to the A-REIT's:

http://www.smh.com.au/business/its-critical-not-to-yield-to-compression-20130224-2ezh8.html

Carolyn Cummins followed up on Tuesday with an overview of the A-REIT distributions being paid out this week and the expectation of Analysts of this being churned back into the A-REIT sector:

http://www.smh.com.au/business/reit-interim-dividends-tipped-for-reinvestment-20130225-2f1zt.html

And today Malcolm Maiden rounded out the week with an article on the current levels of optimism in the market seeming to sweep past any negative news such as the Italian Elections and the U.S. Fiscal Cliff.

http://www.smh.com.au/business/the-bucket-overflows-with-dubious-optimism-20130301-2fbua.html

You have to wonder if we are going to continue to surge higher on euphimistic optimism or suffer a reality check and see another correction in the near future. The *A-REIT Table updated for Weekend 01 March 2013* follows:



*Code*  *Closing Price*  *Capital*  *Earnings $*  *ROE*  *Dist $*  *Yield %*  *P/E*  *NTA $*  *Discount to NTA*            ALZ 	3.410		1,967,046,896		0.3120		9.15%		0.2150		6.30%		10.93		3.46		1.45%	 BWP 	2.300		1,227,385,317		0.1645		7.15%		0.1387		6.03%		13.98		1.87		-22.99%	 CFX 	2.030		5,741,846,188		0.1442		7.10%		0.1340		6.60%		14.08		2.05		0.98%	 CHC 	3.750		1,120,066,301		0.0564		1.50%		0.1890		5.04%		66.49		2.13		-76.06%	 CMW 	0.945		1,158,134,386		0.0526		5.57%		0.0712		7.53%		17.97		0.68		-38.97%	 CPA 	1.105		2,593,438,771		0.1066		9.65%		0.0640		5.79%		10.37		1.15		3.91%	 CQR 	3.890		1,278,309,125		0.0688		1.77%		0.2640		6.79%		56.54		3.31		-17.52%	 DXS 	1.065		5,153,560,747		0.0680		6.38%		0.0557		5.23%		15.66		1.03		-3.40%	 FKP 	1.700		546,683,799		0.2940		17.29%		0.0000		0.00%		5.78		4.06		58.13%	 GMG 	4.630		7,878,784,438		0.2704		5.84%		0.1870		4.04%		17.12		2.54		-82.28%	 GPT 	3.890		6,872,793,942		0.3360		8.64%		0.1930		4.96%		11.58		3.73		-4.29%	 IOF 	2.980		1,829,861,425		0.1600		5.37%		0.1655		5.55%		18.63		3.14		5.10%	 MGR 	1.610		5,515,195,796		0.0864		5.37%		0.0860		5.34%		18.63		1.64		1.83%	 SCP 	1.605		937,641,000		0.1180		7.35%		0.1040		6.48%		13.60		1.58		-1.58%	 SGP 	3.720		8,193,887,622		0.0130		0.35%		0.2400		6.45%		286.15		3.49		-6.59%	 WDC 	11.100		24,972,886,094		0.7322		6.60%		0.4950		4.46%		15.16		6.79		-63.48%		WRT		3.050		9,315,206,895		0.2690		8.82%		0.1875		6.15%		11.34		3.37		9.50%	

*1.* The figures for *FKP* are speculative based on information provided in FKP's Annual Report converting the figures based on the number of shares on issue as at 30-6-12 to the number of shares on issue after the August issue. In addition the initial speculative figures have now been adjusted to reflect the consolidation of  7 shares to 1 share with the resultant number of shares taken from the release dated 13 December 2012. For more information see the FKP site.

*2.* The figures for *SCP* (earnings and distributions) are guideline forecasts for the period 2013 - 2014 extracted from the proposal of 5 October 2012 Comments ( 08 December 2012): 
. The forecasts earnings and distributions for the period ending 30 June 2013 are: Earnings of $0.065 per share and Distributions of $0.056 per share.

*Disclaimer:* The figures in the above table may contain errors and should not be relied upon for investment decisions. As always do your own research and good luck.


----------



## nulla nulla (9 March 2013)

Another interesting week in the A-REIT sector. The sector itself appears to be surging ahead maintaining a prolongued bullish run-up. However looking at the individual shares in the sector provides an interesting mix of those rising, those falling and those with volitility providing plenty of short term trading opportunities.






The table of A-REIT shares for weekending 8 March 2013 follows:


*Code*  *Closing Price*  *Capital*  *Earnings $*  *ROE*  *Dist $*  *Yield %*  *P/E*  *NTA $*  *Discount to NTA*            ALZ 	3.400		1,961,278,430		0.3120		9.18%		0.2150		6.32%		10.90		3.46		1.73%	 BWP 	2.350		1,254,067,607		0.1645		7.00%		0.1387		5.90%		14.29		1.87		-25.67%	 CFX 	2.020		5,713,561,231		0.1442		7.14%		0.1340		6.63%		14.01		2.05		1.46%	 CHC 	3.910		1,167,855,797		0.0564		1.44%		0.1890		4.83%		69.33		2.13		-83.57%	 CMW 	0.945		1,158,134,386		0.0526		5.57%		0.0712		7.53%		17.97		0.68		-38.97%	 CPA 	1.110		2,605,173,788		0.1066		9.60%		0.0640		5.77%		10.41		1.15		3.48%	 CQR 	3.960		1,301,312,117		0.0688		1.74%		0.2640		6.67%		57.56		3.31		-19.64%	 DXS 	1.045		5,056,780,264		0.0680		6.51%		0.0557		5.33%		15.37		1.03		-1.46%	 FKP 	1.715		551,507,479		0.2940		17.14%		0.0000		0.00%		5.83		4.06		57.76%	 GMG 	4.860		8,270,171,137		0.2704		5.56%		0.1870		3.85%		17.97		2.54		-91.34%	 GPT 	3.940		6,961,133,196		0.3360		8.53%		0.1930		4.90%		11.73		3.73		-5.63%	 IOF 	3.080		1,891,266,171		0.1600		5.19%		0.1655		5.37%		19.25		3.14		1.91%	 MGR 	1.600		5,480,939,922		0.0864		5.40%		0.0860		5.38%		18.52		1.64		2.44%	 SCP 	1.600		934,720,000		0.1180		7.38%		0.1040		6.50%		13.56		1.58		-1.27%	 SGP 	3.720		8,193,887,622		0.0130		0.35%		0.2400		6.45%		286.15		3.49		-6.59%	 WDC 	11.250		25,310,357,528		0.7322		6.51%		0.4950		4.40%		15.36		6.79		-65.68%		WRT		3.100		9,467,915,205		0.2690		8.68%		0.1875		6.05%		11.52		3.37		8.01%	

*1.* The figures for* FKP *are speculative based on information provided in FKP's Annual Report converting the figures based on the number of shares on issue as at 30-6-12 to the number of shares on issue after the August issue. In addition the initial speculative figures have now been adjusted to reflect the consolidation of  7 shares to 1 share with the resultant number of shares taken from the release dated 13 December 2012. For more information see the FKP site.

*2.* The figures for *SCP* (earnings and distributions) are guideline forecasts for the period 2013 - 2014 extracted from the proposal of 5 October 2012 Comments ( 08 December 2012): 
. The forecasts earnings and distributions for the period ending 30 June 2013 are: Earnings of $0.065 per share and Distributions of $0.056 per share.

*Disclaimer:* The figures in the above table may contain errors and should not be relied upon for investment decisions. As always do your own research and good luck.


----------



## nulla nulla (16 March 2013)

Early in the week the property sector looked like it was retreating from the recent highs. The consolidation on Thursay 7th and Friday 8th looked like turning into a correction with a significant dip on Thursday 14th. However after a slow start to the trading day on Friday 15th there was a huge buying push in the mid afternoon. This caught me by surprise as I had in fact been expecting a "Friday selldown" to start arround 2:30pm - 3:00pm. Most noticeable SCP spiked to a new high of $1.71 banging on 6.87% for the week. Good for holders, great for traders.




The updated table for Weekending 15 March 2013 follows:


*Code*  *Closing Price*  *Capital*  *Earnings $*  *ROE*  *Dist $*  *Yield %*  *P/E*  *NTA $*  *Discount to NTA*            ALZ 	3.480		2,007,426,158		0.3120		8.97%		0.2150		6.18%		11.15		3.46		-0.58%	 BWP 	2.590		1,382,142,596		0.1645		6.35%		0.1387		5.36%		15.74		1.87		-38.50%	 CFX 	2.050		5,798,416,101		0.1442		7.03%		0.1340		6.54%		14.22		2.05		0.00%	 CHC 	3.920		1,170,842,640		0.0564		1.44%		0.1890		4.82%		69.50		2.13		-84.04%	 CMW 	0.950		1,164,262,081		0.0526		5.54%		0.0712		7.49%		18.06		0.68		-39.71%	 CPA 	1.140		2,675,583,891		0.1066		9.35%		0.0640		5.61%		10.69		1.15		0.87%	 CQR 	3.940		1,294,739,834		0.0688		1.75%		0.2640		6.70%		57.27		3.31		-19.03%	 DXS 	1.040		5,032,585,143		0.0680		6.54%		0.0557		5.36%		15.29		1.03		-0.97%	 FKP 	1.730		556,331,160		0.2940		16.99%		0.0000		0.00%		5.88		4.06		57.39%	 GMG 	4.990		8,491,389,707		0.2704		5.42%		0.1870		3.75%		18.45		2.54		-96.46%	 GPT 	3.790		6,696,115,434		0.3360		8.87%		0.1930		5.09%		11.28		3.73		-1.61%	 IOF 	3.100		1,903,547,120		0.1600		5.16%		0.1655		5.34%		19.38		3.14		1.27%	 MGR 	1.700		5,823,498,667		0.0864		5.08%		0.0860		5.06%		19.68		1.64		-3.66%	 SCP 	1.710		998,982,000		0.1180		6.90%		0.1040		6.08%		14.49		1.58		-8.23%	 SGP 	3.850		8,480,233,158		0.0130		0.34%		0.2400		6.23%		296.15		3.49		-10.32%	 WDC 	11.000		24,747,905,138		0.7322		6.66%		0.4950		4.50%		15.02		6.79		-62.00%		WRT		3.100		9,467,915,205		0.2690		8.68%		0.1875		6.05%		11.52		3.37		8.01%	

*1.* The figures for *FKP* are speculative based on information provided in FKP's Annual Report converting the figures based on the number of shares on issue as at 30-6-12 to the number of shares on issue after the August issue. In addition the initial speculative figures have now been adjusted to reflect the consolidation of  7 shares to 1 share with the resultant number of shares taken from the release dated 13 December 2012. For more information see the FKP site.

*2.* The figures for *SCP* (earnings and distributions) are guideline forecasts for the period 2013 - 2014 extracted from the proposal of 5 October 2012 Comments ( 08 December 2012): 
. The forecasts earnings and distributions for the period ending 30 June 2013 are: Earnings of $0.065 per share and Distributions of $0.056 per share.

*Disclaimer:* The figures in the above table may contain errors and should not be relied upon for investment decisions. As always do your own research and good luck.


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## nulla nulla (23 March 2013)

Cyprus, with an economy the size of a mosquito on the global elephants bum, managed to panick the world markets and the A-REITs here were swept up in the sell off. Fortunately there appeared to be buyers for most of the sellers. Profit takers seem to be partialy offset by investors seeking yield as a better alternative to bank interest rates. Unfortunately the big A-REIT gainers last week (BWT and SCP) gave most of it back. 




The updated table for the A-REIT's for weekending *22 March 20*13 follows:


*Code*  *Closing Price*  *Capital*  *Earnings $*  *ROE*  *Dist $*  *Yield %*  *P/E*  *NTA $*  *Discount to NTA*            ALZ 	3.410		1,967,046,896		0.3120		9.15%		0.2150		6.30%		10.93		3.46		1.45%	 BWP 	2.380		1,270,076,980		0.1645		6.91%		0.1387		5.83%		14.47		1.87		-27.27%	 CFX 	2.070		5,854,986,014		0.1148		5.55%		0.1340		6.47%		18.03		2.05		-0.98%	 CHC 	3.930		1,173,829,484		0.0903		2.30%		0.1890		4.81%		43.52		2.12		-85.38%	 CMW 	0.965		1,182,645,167		0.0526		5.45%		0.0712		7.38%		18.35		0.68		-41.91%	 CPA 	1.120		2,628,643,823		0.0746		6.66%		0.0640		5.71%		15.01		1.15		2.61%	 CQR 	3.900		1,281,595,267		0.0688		1.76%		0.2640		6.77%		56.69		3.31		-17.82%	 DXS 	1.045		5,056,780,264		0.0680		6.51%		0.0557		5.33%		15.37		1.03		-1.46%	 FKP 	1.580		508,094,354		0.2940		18.61%		0.0000		0.00%		5.37		3.98		60.30%	 GMG 	4.790		8,151,053,446		0.2307		4.82%		0.1870		3.90%		20.76		2.64		-81.44%	 GPT 	3.750		6,625,444,031		0.3360		8.96%		0.1930		5.15%		11.16		3.73		-0.54%	 IOF 	3.020		1,854,423,323		0.1600		5.30%		0.1655		5.48%		18.88		3.14		3.82%	 MGR 	1.630		5,583,707,545		0.0864		5.30%		0.0860		5.28%		18.87		1.64		0.61%	 SCP 	1.650		963,930,000		0.1180		7.15%		0.1040		6.30%		13.98		1.58		-4.43%	 SGP 	3.750		8,259,967,361		0.0130		0.35%		0.2400		6.40%		288.46		3.49		-7.45%	 WDC 	10.760		24,207,950,844		0.7559		7.03%		0.4950		4.60%		14.23		6.90		-55.94%		WRT		3.040		9,284,665,233		0.2706		8.90%		0.1875		6.17%		11.23		3.42		11.11%	

Comments:

*1.* The figures for *FKP* are speculative based on information provided in FKP's Annual Report converting the figures based on the number of shares on issue as at 30-6-12 to the number of shares on issue after the August issue. In addition the initial speculative figures have now been adjusted to reflect the consolidation of  7 shares to 1 share with the resultant number of shares taken from the release dated 13 December 2012. For more information see the FKP site.

*2.* The figures for *SCP* (earnings and distributions) are guideline forecasts for the period 2013 - 2014 extracted from the proposal of 5 October 2012. The forecasts earnings and distributions for the period ending 30 June 2013 are: Earnings of $0.065 per share and Distributions of $0.056 per share.

*Disclaimer:* The figures in the above table may contain errors and should not be relied upon for investment decisions. As always do your own research and good luck.


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## nulla nulla (29 March 2013)

While this was only a short week, the uncertainty bought on by Cyprus continued to provide volitility in the A-REIT sector. Additionaly there was a suggestion that GPT may be getting closer to launching a take over for all of ALZ then hive off the residential property develovement assets to an undisclosed Asian partner. The appearance of portfolio reweighting with significant sell downs in closing auctions supports the possibility of someone building a warchest to participate in any GPT capital raising. Naturally they would be looking for a discount on current prices which may also have influenced the recent slide in GPT's share price. Time will tell. 

The table of closing prices for week ending *28 March 2013 *follows:


*Code*  *Closing Price*  *Capital*  *Earnings $*  *ROE*  *Dist $*  *Yield %*  *P/E*  *NTA $*  *Discount to NTA*            ALZ 	3.450		1,990,120,760		0.3120		9.04%		0.2150		6.23%		11.06		3.46		0.29%	 BWP 	2.380		1,270,076,980		0.1645		6.91%		0.1387		5.83%		14.47		1.87		-27.27%	 CFX 	2.010		5,685,276,275		0.1148		5.71%		0.1340		6.67%		17.51		2.05		1.95%	 CHC 	3.830		1,143,961,049		0.0903		2.36%		0.1890		4.93%		42.41		2.12		-80.66%	 CMW 	0.970		1,188,772,862		0.0526		5.42%		0.0712		7.34%		18.44		0.68		-42.65%	 CPA 	1.110		2,605,173,788		0.0746		6.72%		0.0640		5.77%		14.88		1.15		3.48%	 CQR 	3.910		1,284,881,409		0.0688		1.76%		0.2640		6.75%		56.83		3.31		-18.13%	 DXS 	1.040		5,032,585,143		0.0680		6.54%		0.0557		5.36%		15.29		1.03		-0.97%	 FKP 	1.580		508,094,354		0.2940		18.61%		0.0000		0.00%		5.37		3.98		60.30%	 GMG 	4.780		8,134,036,633		0.2307		4.83%		0.1870		3.91%		20.72		2.64		-81.06%	 GPT 	3.710		6,554,772,628		0.3360		9.06%		0.1930		5.20%		11.04		3.73		0.54%	 IOF 	3.060		1,878,985,221		0.1600		5.23%		0.1655		5.41%		19.13		3.14		2.55%	 MGR 	1.620		5,549,451,671		0.0864		5.33%		0.0860		5.31%		18.75		1.64		1.22%	 SCP 	1.655		966,851,000		0.1180		7.13%		0.1040		6.28%		14.03		1.58		-4.75%	 SGP 	3.650		8,039,701,565		0.0130		0.36%		0.2400		6.58%		280.77		3.49		-4.58%	 WDC 	10.850		24,410,433,704		0.7559		6.97%		0.4950		4.56%		14.35		6.90		-57.25%		WRT		3.020		9,223,581,909		0.2706		8.96%		0.1875		6.21%		11.16		3.42		11.70%	

*Comments:*

*1.* The figures for *FK*P are speculative based on information provided in FKP's Annual Report converting the figures based on the number of shares on issue as at 30-6-12 to the number of shares on issue after the August issue. In addition the initial speculative figures have now been adjusted to reflect the consolidation of  7 shares to 1 share with the resultant number of shares taken from the release dated 13 December 2012. For more information see the FKP site.

*2.* The figures for *SCP* (earnings and distributions) are guideline forecasts for the period 2013 - 2014 extracted from the proposal of 5 October 2012 . The forecasts earnings and distributions for the period ending 30 June 2013 are: Earnings of $0.065 per share and Distributions of $0.056 per share.

*Disclaimer:* The figures in the above table may contain errors and should not be relied upon for investment decisions. As always do your own research and good luck.


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## nulla nulla (6 April 2013)

This week fear mongering about European contagion from Cyprus bailout taxes and global bank runs seemed to abate to be briefly replaced by concerns over North Korean rhetoric, about engaging the U.S. in a nuclear war, and the week finished with a return to concerns in Europe as to the total mess they are in with the Euro. All adds to the interday volitility with some wild swings, some unexplained drops and some unexpected runups. 

GPT rebounded from the close of $3.71 on thursday 28-03-2013 this week to tap $3.89 early in the week then drift down to $3.81 before closing out the week on $3.85. SGP rebounded from last weeks close of $3.65, tapped $3.81 early in the week then drifted back to close out the week at $3.73. It almost looks as if a fundmanager (or two) might have needed to churn some turnover to make the quarterly brokerage targets, so undertook a sell off on Thursday 28/3/13 and a buy back on 2/4/13, but that wouldn't happen would it  )

The edited A-REIT table for week ending *05 April 2013 *follows:


*Code*  *Closing Price*  *Capital*  *Earnings $*  *ROE*  *Dist $*  *Yield %*  *P/E*  *NTA $*  *Discount to NTA*            ALZ 	3.570		2,059,342,351		0.3120		8.74%		0.2150		6.02%		11.44		3.46		-3.18%	 BWP 	2.380		1,270,076,980		0.1645		6.91%		0.1387		5.83%		14.47		1.87		-27.27%	 CFX 	2.040		5,770,131,144		0.1148		5.63%		0.1340		6.57%		17.77		2.05		0.49%	 CHC 	3.880		1,158,895,266		0.0903		2.33%		0.1890		4.87%		42.97		2.12		-83.02%	 CMW 	0.985		1,207,155,948		0.0526		5.34%		0.0712		7.23%		18.73		0.68		-44.85%	 CPA 	1.150		2,699,053,925		0.0746		6.49%		0.0640		5.57%		15.42		1.15		0.00%	 CQR 	3.990		1,311,170,542		0.0688		1.72%		0.2640		6.62%		57.99		3.31		-20.54%	 DXS 	1.085		5,250,341,231		0.0680		6.27%		0.0557		5.13%		15.96		1.03		-5.34%	 FKP 	1.500		482,368,058		0.2940		19.60%		0.0000		0.00%		5.10		3.98		62.31%	 GMG 	4.760		8,100,003,007		0.2307		4.85%		0.1870		3.93%		20.63		2.64		-80.30%	 GPT 	3.850		6,802,122,539		0.3360		8.73%		0.1930		5.01%		11.46		3.73		-3.22%	 IOF 	3.060		1,878,985,221		0.1600		5.23%		0.1655		5.41%		19.13		3.14		2.55%	 MGR 	1.610		5,515,195,796		0.0864		5.37%		0.0860		5.34%		18.63		1.64		1.83%	 SCP 	1.645		961,009,000		0.1180		7.17%		0.1040		6.32%		13.94		1.58		-4.11%	 SGP 	3.730		8,215,914,202		0.0130		0.35%		0.2400		6.43%		286.92		3.49		-6.88%	 WDC 	11.080		24,927,889,903		0.7559		6.82%		0.4950		4.47%		14.66		6.90		-60.58%		WRT		3.070		9,376,290,219		0.2706		8.81%		0.1875		6.11%		11.35		3.42		10.23%	

*Comments:*

*1.* The figures for *FKP* are speculative based on information provided in FKP's Annual Report converting the figures based on the number of shares on issue as at 30-6-12 to the number of shares on issue after the August issue. In addition the initial speculative figures have now been adjusted to reflect the consolidation of  7 shares to 1 share with the resultant number of shares taken from the release dated 13 December 2012. For more information see the FKP site.

*2. *The figures for *SCP* (earnings and distributions) are guideline forecasts for the period 2013 - 2014 extracted from the proposal of 5 October 2012 . The forecasts earnings and distributions for the period ending 30 June 2013 are: Earnings of $0.065 per share and Distributions of $0.056 per share.

*Disclaimer:* The figures in the above table may contain errors and should not be relied upon for investment decisions. As always do your own research and good luck.


----------



## nulla nulla (13 April 2013)

Less than a month ago the A-REIT sector was drifting down toward the lower channel bar of what had been a sustained upward sideways climb, albiet at a slower rate than the resources and banking sector. Last week started slowly with some sharp retraces on Wednesday (opportunities to buy?) however on Thursday there was a postive move up (sell the Wednesday buys and lock in the profits?). Then on Friday the A-REIT sector completely lost the plot and banged on 2% pushing several stocks to new record highs (recent anyway) and others close to their recent highs. 

So what changed in the market? The resource stocks and banks took a tumble and Goldman Sachs told their clients to sell gold. Was that it? Money from Gold & resources transfering to the low priced A-REIT's with their good present level yields or was it just a temporary aberation fueled by irrational exuberance?




The updated A-REIT table for the closing prices for week ending *12 April 20*13 follows:


*Code*  *Closing Price*  *Capital*  *Earnings $*  *ROE*  *Dist $*  *Yield %*  *P/E*  *NTA $*  *Discount to NTA*            ALZ 	3.750		2,163,174,739		0.3120		8.32%		0.2150		5.73%		12.02		3.46		-8.38%	 BWP 	2.420		1,291,422,812		0.1645		6.80%		0.1387		5.73%		14.71		1.87		-29.41%	 CFX 	2.140		6,052,980,710		0.1148		5.36%		0.1340		6.26%		18.64		2.05		-4.39%	 CHC 	3.980		1,188,763,701		0.0903		2.27%		0.1890		4.75%		44.08		2.12		-87.74%	 CMW 	1.000		1,225,539,033		0.0526		5.26%		0.0712		7.12%		19.01		0.68		-47.06%	 CPA 	1.165		2,734,258,976		0.0746		6.40%		0.0640		5.49%		15.62		1.15		-1.30%	 CQR 	4.100		1,347,318,101		0.0688		1.68%		0.2640		6.44%		59.59		3.31		-23.87%	 DXS 	1.130		5,468,097,319		0.0680		6.02%		0.0557		4.93%		16.62		1.03		-9.71%	 FKP 	1.505		483,975,951		0.2940		19.53%		0.0000		0.00%		5.12		3.98		62.19%	 GMG 	5.050		8,593,490,585		0.2307		4.57%		0.1870		3.70%		21.89		2.64		-91.29%	 GPT 	3.950		6,978,801,046		0.3360		8.51%		0.1930		4.89%		11.76		3.73		-5.90%	 IOF 	3.220		1,977,232,815		0.1600		4.97%		0.1655		5.14%		20.13		3.14		-2.55%	 MGR 	1.685		5,772,114,855		0.0864		5.13%		0.0860		5.10%		19.50		1.64		-2.74%	 SCP 	1.635		955,167,000		0.1180		7.22%		0.1040		6.36%		13.86		1.58		-3.48%	 SGP 	3.850		8,480,233,158		0.0130		0.34%		0.2400		6.23%		296.15		3.49		-10.32%	 WDC 	11.340		25,512,840,388		0.7559		6.67%		0.4950		4.37%		15.00		6.90		-64.35%		WRT		3.140		9,590,081,852		0.2706		8.62%		0.1875		5.97%		11.60		3.42		8.19%	


*Comments:*

*1.* The figures for *FKP* are speculative based on information provided in FKP's Annual Report converting the figures based on the number of shares on issue as at 30-6-12 to the number of shares on issue after the August issue. In addition the initial speculative figures have now been adjusted to reflect the consolidation of  7 shares to 1 share with the resultant number of shares taken from the release dated 13 December 2012. For more information see the FKP site.

*2. *The figures for *SCP* (earnings and distributions) are guideline forecasts for the period 2013 - 2014 extracted from the proposal of 5 October 2012 . The forecasts earnings and distributions for the period ending 30 June 2013 are: Earnings of $0.065 per share and Distributions of $0.056 per share.

*Disclaimer:* The figures in the above table may contain errors and should not be relied upon for investment decisions. As always do your own research and good luck.


----------



## nulla nulla (20 April 2013)

If weekending 12 April 2013 was good for the A-REIT sector then last week was a bolter. What with the drop in the price of gold and a retrace by the mining sector, it looked like the sellers were moving across to the A-REIT sector seeking security in the yield paying stocks. 




In addition to that, it also appears that foriegn investors taking advantage of low interest rates (Japan & USA) are investing in A-REIT's for the higher returns, profiting on the diference between their borrowing costs and the yields available.  Even with the yield compression caused by the price spikes most of the A-REIT's are paying *5%* or better. The risk foreign investors face is that their local currency improves against the Aud$. However with the money printing programs underway in Japan & the USA, trying to boost their inflation levels, it is a low risk.

The A-REIT table for closing prices Friday *19 April 2013 *follows:


*Code	* *Closing Price*  *Capital*  *Earnings $*  *ROE*  *Dist $*  *Yield %*  *P/E*  *NTA $*  *Discount to NTA*            ALZ 	3.610		2,082,416,215		0.3120		8.64%		0.2150		5.96%		11.57		3.46		-4.34%	 BWP 	2.420		1,291,422,812		0.1645		6.80%		0.1387		5.73%		14.71		1.87		-29.41%	 CFX 	2.190		6,194,405,493		0.1148		5.24%		0.1340		6.12%		19.08		2.05		-6.83%	 CHC 	4.110		1,227,592,666		0.0903		2.20%		0.1890		4.60%		45.51		2.12		-93.87%	 CMW 	1.020		1,250,049,814		0.0526		5.16%		0.0712		6.98%		19.39		0.68		-50.00%	 CPA 	1.165		2,734,258,976		0.0746		6.40%		0.0640		5.49%		15.62		1.15		-1.30%	 CQR 	4.190		1,376,893,376		0.0688		1.64%		0.2640		6.30%		60.90		3.31		-26.59%	 DXS 	1.140		5,516,487,561		0.0680		5.96%		0.0557		4.89%		16.76		1.03		-10.68%	 FKP 	1.480		475,936,483		0.2940		19.86%		0.0000		0.00%		5.03		3.98		62.81%	 GMG 	5.160		8,780,675,529		0.2307		4.47%		0.1870		3.62%		22.37		2.64		-95.45%	 GPT 	4.090		7,226,150,957		0.3360		8.22%		0.1930		4.72%		12.17		3.73		-9.65%	 IOF 	3.310		2,032,497,086		0.1600		4.83%		0.1655		5.00%		20.69		3.14		-5.41%	 MGR 	1.350		4,624,543,059		0.0864		6.40%		0.0860		6.37%		15.63		1.64		17.68%	 SCP 	1.650		963,930,000		0.1180		7.15%		0.1040		6.30%		13.98		1.58		-4.43%	 SGP 	3.840		8,458,206,578		0.0130		0.34%		0.2400		6.25%		295.38		3.49		-10.03%	 WDC 	11.710		26,345,269,924		0.7559		6.46%		0.4950		4.23%		15.49		6.90		-69.71%		WRT		3.260		9,956,581,796		0.2706		8.30%		0.1875		5.75%		12.05		3.42		4.68%	

*Comments:*

*1. *The figures for *FKP* are speculative based on information provided in FKP's Annual Report converting the figures based on the number of shares on issue as at 30-6-12 to the number of shares on issue after the August issue. In addition the initial speculative figures have now been adjusted to reflect the consolidation of  7 shares to 1 share with the resultant number of shares taken from the release dated 13 December 2012. For more information see the FKP site.

*2.* The figures for *SCP* (earnings and distributions) are guideline forecasts for the period 2013 - 2014 extracted from the proposal of 5 October 2012 . The forecasts earnings and distributions for the period ending 30 June 2013 are: Earnings of $0.065 per share and Distributions of $0.056 per share.

*Disclaimer:* The figures in the above table may contain errors and should not be relied upon for investment decisions. As always do your own research and good luck  .


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## nulla nulla (20 April 2013)

The Mirvac Group price and figures in the above table are incorrect. The correct closing price is $1.72. So the capital, ROE, Yield & P/E are also incorrect. oops :1zhelp:


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## nulla nulla (27 April 2013)

This weeks closing prices for many of the *A-REIT *shares does not reflect the volitility they went through during the week. In many instances, there was a significant upswing in A-REIT share prices on Wednesday, pushing the shares to new recent highs. This was fairly impressive following on from the previous weeks climb (propped up by the funds moving out of resources and the gold bugs running for safe havens). Unfortunately for holders many of the Wednesday gains were lost in subsequent retraces on Friday. It is possible some of the Wednesday surges were influenced by options settlements due to take place on the Thursday 25th(?).




The updated *A-REIT Table *for closing prices as at *Friday 26 April 2013 *follows:


*Code*  *	Closing Price	*  *Capital*  *Earnings $*  *ROE*  *Dist $*  *	Yield %	*  *P/E*  *NTA $*  *Discount to NTA*            ALZ  *	3.700	* 	2,134,332,409		0.3120		8.43%		0.2150	 *	5.81%	* 	11.86		3.46		-6.94%	 BWP  *	2.430	* 	1,296,759,270		0.1645		6.77%		0.1387	 *	5.71%	* 	14.77		1.87		-29.95%	 CFX  *	2.190	* 	6,194,405,493		0.1148		5.24%		0.1340	 *	6.12%	* 	19.08		2.05		-6.83%	 CHC  *	4.170	* 	1,245,513,727		0.0903		2.17%		0.1890	 *	4.53%	* 	46.18		2.12		-96.70%	 CMW  *	1.040	* 	1,274,560,594		0.0526		5.06%		0.0712	 *	6.85%	* 	19.77		0.68		-52.94%	 CPA  *	1.165	* 	2,734,258,976		0.0746		6.40%		0.0640	 *	5.49%	* 	15.62		1.15		-1.30%	 CQR  *	4.290	* 	1,409,754,794		0.0688		1.60%		0.2640	 *	6.15%	* 	62.35		3.31		-29.61%	 DXS  *	1.130	* 	5,468,097,319		0.0680		6.02%		0.0557	 *	4.93%	* 	16.62		1.03		-9.71%	 FKP  *	1.625	* 	522,565,396		0.2940		18.09%		0.0000	 *	0.00%	* 	5.53		3.98		59.17%	 GMG  *	5.170	* 	8,797,692,342		0.2307		4.46%		0.1870	 *	3.62%	* 	22.41		2.64		-95.83%	 GPT  *	4.090	* 	7,226,150,957		0.3360		8.22%		0.1930	 *	4.72%	* 	12.17		3.73		-9.65%	 IOF  *	3.220	* 	1,977,232,815		0.1600		4.97%		0.1655	 *	5.14%	* 	20.13		3.14		-2.55%	 MGR  *	1.710	* 	5,857,754,541		0.0864		5.05%		0.0860	 *	5.03%	* 	19.79		1.64		-4.27%	 SCP  *	1.635	* 	955,167,000		0.1180		7.22%		0.1040	 *	6.36%	* 	13.86		1.58		-3.48%	 SGP  *	3.790	* 	8,348,073,680		0.0130		0.34%		0.2400	 *	6.33%	* 	291.54		3.49		-8.60%	 WDC  *	11.590	* 	26,075,292,777		0.7559		6.52%		0.4950	 *	4.27%	* 	15.33		6.90		-67.97%		WRT	 *	3.290	* 	10,048,206,782		0.2706		8.22%		0.1875	 *	5.70%	* 	12.16		3.42		3.80%	

*Comments:*

*1.* The figures for *FKP* are speculative based on information provided in FKP's Annual Report converting the figures based on the number of shares on issue as at 30-6-12 to the number of shares on issue after the August issue. In addition the initial speculative figures have now been adjusted to reflect the consolidation of  7 shares to 1 share with the resultant number of shares taken from the release dated 13 December 2012. For more information see the FKP site.

*2. *The figures for *SCP* (earnings and distributions) are guideline forecasts for the period 2013 - 2014 extracted from the proposal of 5 October 2012 . The forecasts earnings and distributions for the period ending 30 June 2013 are: Earnings of $0.065 per share and Distributions of $0.056 per share.

*Disclaimer: *The figures in the above table may contain errors and should not be relied upon for investment decisions. As always do your own research and good luck.


----------



## nulla nulla (4 May 2013)

Another volitile week in the *A-REIT *sector. Some dipped, recovered and then dipped again. Some like IOF reached for new highs and others stayed flat or dropped (like GPT which went ex-div). The chart shows that the setor is holding up at the new level but there is some jigging going on amongst the individual shares:






The updated table for closing prices as at weekending *03 May 2013 *follows:


*Code*  *	Closing Price	*  *Capital*  *Earnings $*  *ROE*  *Dist $*  *	Yield %	*  *P/E*  *NTA $*  *Discount to NTA*            ALZ  *	3.700	* 	2,134,332,409		0.3120		8.43%		0.2150	 *	5.81%	* 	11.86		3.46		-6.94%	 BWP  *	2.460	* 	1,312,768,643		0.1645		6.69%		0.1387	 *	5.64%	* 	14.95		1.87		-31.55%	 CFX  *	2.190	* 	6,194,405,493		0.1148		5.24%		0.1340	 *	6.12%	* 	19.08		2.05		-6.83%	 CHC  *	4.440	* 	1,326,158,501		0.0903		2.03%		0.1890	 *	4.26%	* 	49.17		2.12		-109.43%	 CMW  *	1.060	* 	1,299,071,375		0.0526		4.96%		0.0712	 *	6.72%	* 	20.15		0.68		-55.88%	 CPA  *	1.175	* 	2,757,729,010		0.0746		6.35%		0.0640	 *	5.45%	* 	15.75		1.15		-2.17%	 CQR  *	4.290	* 	1,409,754,794		0.0688		1.60%		0.2640	 *	6.15%	* 	62.35		3.31		-29.61%	 DXS  *	1.175	* 	5,685,853,407		0.0680		5.79%		0.0557	 *	4.74%	* 	17.28		1.03		-14.08%	 FKP  *	1.590	* 	511,310,141		0.2940		18.49%		0.0000	 *	0.00%	* 	5.41		3.98		60.05%	 GMG  *	5.220	* 	8,882,776,407		0.2307		4.42%		0.1870	 *	3.58%	* 	22.63		2.64		-97.73%	 GPT  *	4.050	* 	7,155,479,554		0.3360		8.30%		0.1930	 *	4.77%	* 	12.05		3.73		-8.58%	 IOF  *	3.370	* 	2,069,339,933		0.1600		4.75%		0.1655	 *	4.91%	* 	21.06		3.14		-7.32%	 MGR  *	1.715	* 	5,874,882,478		0.0864		5.04%		0.0860	 *	5.01%	* 	19.85		1.64		-4.57%	 SCP  *	1.745	* 	1,019,429,000		0.1180		6.76%		0.1040	 *	5.96%	* 	14.79		1.58		-10.44%	 SGP  *	3.850	* 	8,480,233,158		0.0130		0.34%		0.2400	 *	6.23%	* 	296.15		3.49		-10.32%	 WDC  *	11.750	* 	26,435,262,307		0.7559		6.43%		0.4950	 *	4.21%	* 	15.54		6.90		-70.29%		WRT	 *	3.330	* 	10,170,373,429		0.2706		8.13%		0.1875	 *	5.63%	* 	12.31		3.42		2.63%	

*Comments:*

*1.* The figures for *FKP* are speculative based on information provided in FKP's Annual Report converting the figures based on the number of shares on issue as at 30-6-12 to the number of shares on issue after the August issue. In addition the initial speculative figures have now been adjusted to reflect the consolidation of  7 shares to 1 share with the resultant number of shares taken from the release dated 13 December 2012. For more information see the FKP site.

*2.* The figures for *SCP* (earnings and distributions) are guideline forecasts for the period 2013 - 2014 extracted from the proposal of 5 October 2012 . The forecasts earnings and distributions for the period ending 30 June 2013 are: Earnings of $0.065 per share and Distributions of $0.056 per share.

*Disclaimer:* The figures in the above table may contain errors and should not be relied upon for investment decisions. As always do your own research and good luck.


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## nulla nulla (11 May 2013)

This week was a mixture of rises and fall among the *A-REIT *shares, mostly small rises, a few consolidations and a few falls. Overall the sector looks to have broken out above the pennant that appeared to be forming two weeks ago. Most of the support would be driven by the quest for yield in shares that have better returns than the falling global (and now Australian) interest rates.




I wonder how long the quest for yield can support the A-REIT sector as yields get compressed, Price Earnings multiples get inflated and many of them struggle to find growth in this tough economy. The updated A-REIT table with closing prices for week ending *10 May 2013 *follows:


*Code*  *	Closing Price	*  *Capital*  *Earnings $*  *ROE*  *Dist $*  *	Yield %	*  *P/E*  *NTA $*  *Discount to NTA*            ALZ  *	3.630	* 	2,093,953,147		0.3120		8.60%		0.2150	 *	5.92%	* 	11.63		3.46		-4.91%	 BWP  *	2.720	* 	1,451,516,549		0.1645		6.05%		0.1387	 *	5.10%	* 	16.53		1.87		-45.45%	 CFX  *	2.230	* 	6,307,545,320		0.1148		5.15%		0.1340	 *	6.01%	* 	19.43		2.05		-8.78%	 CHC  *	4.640	* 	1,385,895,370		0.0903		1.95%		0.1890	 *	4.07%	* 	51.38		2.12		-118.87%	 CMW  *	1.110	* 	1,360,348,327		0.0526		4.74%		0.0712	 *	6.41%	* 	21.10		0.68		-63.24%	 CPA  *	1.180	* 	2,769,464,027		0.0746		6.32%		0.0640	 *	5.42%	* 	15.82		1.15		-2.61%	 CQR  *	4.400	* 	1,445,902,352		0.0688		1.56%		0.2640	 *	6.00%	* 	63.95		3.31		-32.93%	 DXS  *	1.180	* 	5,710,048,528		0.0680		5.76%		0.0557	 *	4.72%	* 	17.35		1.03		-14.56%	 FKP  *	1.560	* 	501,662,780		0.2940		18.85%		0.0000	 *	0.00%	* 	5.31		3.98		60.80%	 GMG  *	5.400	* 	9,189,079,042		0.2307		4.27%		0.1870	 *	3.46%	* 	23.41		2.64		-104.55%	 GPT  *	4.140	* 	7,314,490,211		0.3360		8.12%		0.1930	 *	4.66%	* 	12.32		3.73		-10.99%	 IOF  *	3.320	* 	2,038,637,561		0.1600		4.82%		0.1655	 *	4.98%	* 	20.75		3.14		-5.73%	 MGR  *	1.745	* 	5,977,650,102		0.0864		4.95%		0.0860	 *	4.93%	* 	20.20		1.64		-6.40%	 SCP  *	1.785	* 	1,042,797,000		0.1180		6.61%		0.1040	 *	5.83%	* 	15.13		1.58		-12.97%	 SGP  *	3.820	* 	8,414,153,419		0.0130		0.34%		0.2400	 *	6.28%	* 	293.85		3.49		-9.46%	 WDC  *	12.010	* 	27,020,212,792		0.7559		6.29%		0.4950	 *	4.12%	* 	15.89		6.90		-74.06%		WRT	 *	3.390	* 	10,353,623,401		0.2706		7.98%		0.1875	 *	5.53%	* 	12.53		3.42		0.88%	


*Comments:*

1. The figures for *FKP *are speculative based on information provided in FKP's Annual Report converting the figures based on the number of shares on issue as at 30-6-12 to the number of shares on issue after the August issue. In addition the initial speculative figures have now been adjusted to reflect the consolidation of  7 shares to 1 share with the resultant number of shares taken from the release dated 13 December 2012. For more information see the FKP site.

2. The figures for *SCP* (earnings and distributions) are guideline forecasts for the period 2013 - 2014 extracted from the proposal of 5 October 2012 . The forecasts earnings and distributions for the period ending 30 June 2013 are: Earnings of $0.065 per share and Distributions of $0.056 per share.

*Disclaimer:* The figures in the above table may contain errors and should not be relied upon for investment decisions. As always do your own research and good luck .


----------



## nulla nulla (18 May 2013)

What a great week. The A-REIT sector maintained the breakout from the previous weeks pennant but to spice things up the international speculators sold off the Aud$. This seems to have prompted a large scale withdrawal of off-shore investments in the A-REIT sector pushing several A-REIT's down as they locked in profits. The falling Aud$ (and the sell downs) then had the effect of making the A-REIT's cheaper to the other off-shore investors chasing yield and the week ended with spirited buying on Thursday and Friday.




As usual the Friday closing prices don't reflect the volitility through the week, but there were opportunities a plenty for the quick and the bold. Mind you sometimes it seems you can be flirting with disaster. The table of closing prices for weekending *17 May 2013 * follows:


*Code*  *	Closing Price	*  *Capital*  *Earnings $*  *ROE*  *Dist $*  *	Yield %	*  *P/E*  *NTA $*  *Discount to NTA*            ALZ  *	3.550	* 	2,047,805,419		0.3120		8.79%		0.2150	 *	6.06%	* 	11.38		3.46		-2.60%	 BWP  *	2.730	* 	1,456,853,007		0.1645		6.03%		0.1387	 *	5.08%	* 	16.60		1.87		-45.99%	 CFX  *	2.190	* 	6,194,405,493		0.1148		5.24%		0.1340	 *	6.12%	* 	19.08		2.05		-6.83%	 CHC  *	4.530	* 	1,353,040,092		0.0903		1.99%		0.1890	 *	4.17%	* 	50.17		2.12		-113.68%	 CMW  *	1.070	* 	1,311,326,765		0.0526		4.92%		0.0712	 *	6.65%	* 	20.34		0.68		-57.35%	 CPA  *	1.160	* 	2,722,523,959		0.0746		6.43%		0.0640	 *	5.52%	* 	15.55		1.15		-0.87%	 CQR  *	4.360	* 	1,432,757,786		0.0688		1.58%		0.2640	 *	6.06%	* 	63.37		3.31		-31.72%	 DXS  *	1.220	* 	5,903,609,495		0.0680		5.57%		0.0557	 *	4.57%	* 	17.94		1.03		-18.45%	 FKP  *	1.515	* 	487,191,738		0.2940		19.41%		0.0000	 *	0.00%	* 	5.15		3.98		61.93%	 GMG  *	5.310	* 	9,035,927,724		0.2307		4.34%		0.1870	 *	3.52%	* 	23.02		2.64		-101.14%	 GPT  *	4.120	* 	7,279,154,509		0.3360		8.16%		0.1930	 *	4.68%	* 	12.26		3.73		-10.46%	 IOF  *	3.350	* 	2,057,058,984		0.1600		4.78%		0.1655	 *	4.94%	* 	20.94		3.14		-6.69%	 MGR  *	1.770	* 	6,063,289,788		0.0864		4.88%		0.0860	 *	4.86%	* 	20.49		1.64		-7.93%	 SCP  *	1.765	* 	1,031,113,000		0.1180		6.69%		0.1040	 *	5.89%	* 	14.96		1.58		-11.71%	 SGP  *	3.890	* 	8,568,339,476		0.0130		0.33%		0.2400	 *	6.17%	* 	299.23		3.49		-11.46%	 WDC  *	12.340	* 	27,762,649,946		0.7559		6.13%		0.4950	 *	4.01%	* 	16.32		6.90		-78.84%		WRT	 *	3.310	* 	10,109,290,105		0.2706		8.18%		0.1875	 *	5.66%	* 	12.23		3.42		3.22%	

*Comments:*

*1.* The figures for *FKP* are speculative based on information provided in FKP's Annual Report converting the figures based on the number of shares on issue as at 30-6-12 to the number of shares on issue after the August issue. In addition the initial speculative figures have now been adjusted to reflect the consolidation of  7 shares to 1 share with the resultant number of shares taken from the release dated 13 December 2012. For more information see the FKP site.

*2.* The figures for* SCP *(earnings and distributions) are guideline forecasts for the period 2013 - 2014 extracted from the proposal of 5 October 2012 . The forecasts earnings and distributions for the period ending 30 June 2013 are: Earnings of $0.065 per share and Distributions of $0.056 per share.

*Disclaimer:* The figures in the above table may contain errors and should not be relied upon for investment decisions. As always do your own research and good luck.


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## nulla nulla (25 May 2013)

If last week was a great week for the A-REIT sector when the sector climbed to new highs and appeared to hold them (even as long as Tuesday this week) then this week was a disastor with the sector falling 4.7% for the week (and even more if you measure the change from the closing high of Tuesday 21-May-2013.





The Relative Strength Chart suggests that the sector has moved way into "oversold" territory on larger than average volumes for the last three days:




The updated *A-REIT *table for week ending *24-5-13 *follows:


*Code*  *	Closing Price	*  *Capital*  *Earnings $*  *ROE*  *Dist $*  *	Yield %	*  *P/E*  *NTA $*  *Discount to NTA*            ALZ  *	3.550	* 	2,047,805,419		0.3120		8.79%		0.2150	 *	6.06%	* 	11.38		3.46		-2.60%	 BWP  *	2.580	* 	1,376,806,138		0.1645		6.38%		0.1387	 *	5.38%	* 	15.68		1.87		-37.97%	 CFX  *	2.095	* 	5,925,698,406		0.1148		5.48%		0.1340	 *	6.40%	* 	18.25		2.05		-2.20%	 CHC  *	4.360	* 	1,302,263,753		0.0903		2.07%		0.1890	 *	4.33%	* 	48.28		2.12		-105.66%	 CMW  *	1.032	* 	1,264,756,282		0.0526		5.10%		0.0712	 *	6.90%	* 	19.62		0.68		-51.76%	 CPA  *	1.105	* 	2,593,438,771		0.0746		6.75%		0.0640	 *	5.79%	* 	14.81		1.15		3.91%	 CQR  *	4.270	* 	1,403,182,510		0.0688		1.61%		0.2640	 *	6.18%	* 	62.06		3.31		-29.00%	 DXS  *	1.122	* 	5,429,385,125		0.0680		6.06%		0.0557	 *	4.96%	* 	16.50		1.03		-8.93%	 FKP  *	1.415	* 	455,033,868		0.2940		20.78%		0.0000	 *	0.00%	* 	4.81		3.98		64.45%	 GMG  *	5.055	* 	8,601,998,992		0.2307		4.56%		0.1870	 *	3.70%	* 	21.91		2.64		-91.48%	 GPT  *	3.900	* 	6,890,461,793		0.3360		8.62%		0.1930	 *	4.95%	* 	11.61		3.73		-4.56%	 IOF  *	3.220	* 	1,977,232,815		0.1600		4.97%		0.1655	 *	5.14%	* 	20.13		3.14		-2.55%	 MGR  *	1.687	* 	5,778,966,030		0.0864		5.12%		0.0860	 *	5.10%	* 	19.53		1.64		-2.87%	 SCP  *	1.785	* 	1,042,797,000		0.1180		6.61%		0.1040	 *	5.83%	* 	15.13		1.58		-12.97%	 SGP  *	3.720	* 	8,193,887,622		0.0130		0.35%		0.2400	 *	6.45%	* 	286.15		3.49		-6.59%	 WDC  *	11.980	* 	26,952,718,505		0.7559		6.31%		0.4950	 *	4.13%	* 	15.85		6.90		-73.62%		WRT	 *	3.160	* 	9,651,165,176		0.2706		8.56%		0.1875	 *	5.93%	* 	11.68		3.42		7.60%	

For interest sake I have prepared another table with the changes for this week for the shares listed in the above table:


Share	 *Code*  *	Closing Price 17-05-13	*  *	Closing Price 24-05-13	*  *	$Change	*  *	%Change	*       	A-REIT Property Sector		XPJ	 *	11.28	*  *	10.75	*  *	-0.530	*  *	-4.70%	* 	Australand Property	 ALZ  *	3.550	*  *	3.550	*  *	0.000	*  *	0.00%	* 	BWP Trust	 BWP  *	2.730	*  *	2.580	*  *	-0.150	*  *	-5.49%	* 	CFS Retail Trust	 CFX  *	2.190	*  *	2.095	*  *	-0.095	*  *	-4.34%	* 	Charter Hall	 CHC  *	4.530	*  *	4.360	*  *	-0.170	*  *	-3.75%	* 	Cromwell	 CMW  *	1.070	*  *	1.032	*  *	-0.038	*  *	-3.55%	* 	Commonwealth Office	 CPA  *	1.160	*  *	1.105	*  *	-0.055	*  *	-4.74%	* 	Charter Hall Retail	 CQR  *	4.360	*  *	4.270	*  *	-0.090	*  *	-2.06%	* 	Dexus	 DXS  *	1.220	*  *	1.122	*  *	-0.098	*  *	-8.03%	* 	FKP Stapled	 FKP  *	1.515	*  *	1.415	*  *	-0.100	*  *	-6.60%	* 	Goodman Group	 GMG  *	5.310	*  *	5.055	*  *	-0.255	*  *	-4.80%	* 	GPT Group	 GPT  *	4.120	*  *	3.900	*  *	-0.220	*  *	-5.34%	* 	Investra Office	 IOF  *	3.350	*  *	3.220	*  *	-0.130	*  *	-3.88%	* 	Mirvac Group	 MGR  *	1.770	*  *	1.687	*  *	-0.083	*  *	-4.69%	* 	SCA Property Group	 SCP  *	1.765	*  *	1.785	*  *	0.020	*  *	1.13%	* 	Stockland Property	 SGP  *	3.890	*  *	3.720	*  *	-0.170	*  *	-4.37%	* 	Westfield	 WDC  *	12.340	*  *	11.980	*  *	-0.360	*  *	-2.92%	* 	Westfield Retail		WRT	 *	3.310	*  *	3.160	*  *	-0.150	*  *	-4.53%	* 


At this point of time, with the falling Australian Dollar, I would caution against relying on the RSI chart for the sector (and shares) alone when making investmant decisions.

*Comments:*

*1. *The figures for* FKP *are speculative based on information provided in FKP's Annual Report converting the figures based on the number of shares on issue as at 30-6-12 to the number of shares on issue after the August issue. In addition the initial speculative figures have now been adjusted to reflect the consolidation of  7 shares to 1 share with the resultant number of shares taken from the release dated 13 December 2012. For more information see the FKP site.

*2.* The figures for *SCP* (earnings and distributions) are guideline forecasts for the period 2013 - 2014 extracted from the proposal of 5 October 2012 . The forecasts earnings and distributions for the period ending 30 June 2013 are: Earnings of $0.065 per share and Distributions of $0.056 per share.

*Disclaimer:* The figures in the above table may contain errors and should not be relied upon for investment decisions. As always do your own research and good luck


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## nulla nulla (1 June 2013)

The market giveth and the market taketh away. This week the *A-REIT* sector took another drubbing lifting the overall correction to close to 10% down over the last two weeks. 

The upsurge in the sector back at the start of April was attributed to the change in the Japanese Governments approach to their economy by starting the printing presses and aiming for 2% inflation. The influx of money into the Japanese Economy was credited with starting a tsunami of investments in the Nikkei & ASX in shares with high yield rates better than bank and bond rates. 

However the SMH BusinessDay today has an article by William Pesek, suggesting that the rise in the Nikkei was due foreign investors. The subsequent reversal in the Nikkei (and the ASX) could mean that those same investors have now taken heart from the alleged improvement in the US Economy and are taking their money home. Only problem with this is that the Dow Jones is also "whipsawing". Go figure.




The table for *A-REIT closing prices 31 May 2014* follows:


*Code*  *	Closing Price	*  *Capital*  *Earnings $*  *ROE*  *Dist $*  *	Yield %	*  *P/E*  *NTA $*  *Discount to NTA*            ALZ  *	3.480	* 	2,007,426,158		0.3120		8.97%		0.2150	 *	6.18%	* 	11.15		3.46		-0.58%	 BWP  *	2.500	* 	1,334,114,475		0.1645		6.58%		0.1387	 *	5.55%	* 	15.20		1.87		-33.69%	 CFX  *	2.010	* 	5,685,276,275		0.1148		5.71%		0.1340	 *	6.67%	* 	17.51		2.05		1.95%	 CHC  *	4.110	* 	1,227,592,666		0.0903		2.20%		0.1890	 *	4.60%	* 	45.51		2.12		-93.87%	 CMW  *	1.040	* 	1,274,560,594		0.0526		5.06%		0.0712	 *	6.85%	* 	19.77		0.68		-52.94%	 CPA  *	1.100	* 	2,581,703,754		0.0746		6.78%		0.0640	 *	5.82%	* 	14.75		1.15		4.35%	 CQR  *	4.110	* 	1,350,604,243		0.0688		1.67%		0.2640	 *	6.42%	* 	59.74		3.31		-24.17%	 DXS  *	1.100	* 	5,322,926,594		0.0680		6.18%		0.0557	 *	5.06%	* 	16.18		1.03		-6.80%	 FKP  *	1.410	* 	453,425,974		0.2940		20.85%		0.0000	 *	0.00%	* 	4.80		3.98		64.57%	 GMG  *	5.140	* 	8,746,641,903		0.2307		4.49%		0.1870	 *	3.64%	* 	22.28		2.64		-94.70%	 GPT  *	3.890	* 	6,872,793,942		0.3360		8.64%		0.1930	 *	4.96%	* 	11.58		3.73		-4.29%	 IOF  *	3.190	* 	1,958,811,391		0.1600		5.02%		0.1655	 *	5.19%	* 	19.94		3.14		-1.59%	 MGR  *	1.675	* 	5,737,858,980		0.0864		5.16%		0.0860	 *	5.13%	* 	19.39		1.64		-2.13%	 SCP  *	1.685	* 	984,377,000		0.1180		7.00%		0.1040	 *	6.17%	* 	14.28		1.58		-6.65%	 SGP  *	3.650	* 	8,039,701,565		0.0130		0.36%		0.2400	 *	6.58%	* 	280.77		3.49		-4.58%	 WDC  *	11.520	* 	25,917,806,108		0.7559		6.56%		0.4950	 *	4.30%	* 	15.24		6.90		-66.96%		WRT	 *	3.080	* 	9,406,831,881		0.2706		8.79%		0.1875	 *	6.09%	* 	11.38		3.42		9.94%	

Some of the yields are looking a lot better following on from the two week sell down. Whether this will make any difference to share prices in the short term remains to be seen.

*Comments:*

*1.* The figures for *FKP* are speculative based on information provided in FKP's Annual Report converting the figures based on the number of shares on issue as at 30-6-12 to the number of shares on issue after the August issue. In addition the initial speculative figures have now been adjusted to reflect the consolidation of  7 shares to 1 share with the resultant number of shares taken from the release dated 13 December 2012. For more information see the FKP site.

*2. *The figures for *SCP* (earnings and distributions) are guideline forecasts for the period 2013 - 2014 extracted from the proposal of 5 October 2012 . The forecasts earnings and distributions for the period ending 30 June 2013 are: Earnings of $0.065 per share and Distributions of $0.056 per share.

*Disclaimer:* The figures in the above table may contain errors and should not be relied upon for investment decisions. As always do your own research and good luck


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## nulla nulla (8 June 2013)

The US markets finished the week strongly in complete contrast to the Australian Markets. Suffering from a double whammy of the falling value of the Aud$ against the US$ and the withdrawal of offshore funds from Australian shares the A-REIT sector fell further. What has been a consistantly improving sector since July 2011 now appears to have hit the wall. 




I suspect it is likely that any further downward presure on the Aud$ will continue to erode A-REIT share prices. The forthcomming dividends may halt the fall on some shares. I also suspect we are heading into a period of even more volitility than the last 4-5 months. The updated table for *A-REIT closing prices as at 7 June 2013 *follows:


*Code*  *	Closing Price	*  *Capital*  *Earnings $*  *ROE*  *Dist $*  *	Yield %	*  *P/E*  *NTA $*  *Discount to NTA*            ALZ  *	3.440	* 	1,984,352,294		0.3120		9.07%		0.2150	 *	6.25%	* 	11.03		3.46		0.58%	 BWP  *	2.360	* 	1,259,404,064		0.1645		6.97%		0.1387	 *	5.88%	* 	14.35		1.87		-26.20%	 CFX  *	1.980	* 	5,600,421,405		0.1148		5.80%		0.1340	 *	6.77%	* 	17.25		2.05		3.41%	 CHC  *	3.810	* 	1,137,987,362		0.0903		2.37%		0.1890	 *	4.96%	* 	42.19		2.12		-79.72%	 CMW  *	0.995	* 	1,219,411,338		0.0526		5.29%		0.0712	 *	7.16%	* 	18.92		0.68		-46.32%	 CPA  *	1.060	* 	2,487,823,618		0.0746		7.04%		0.0640	 *	6.04%	* 	14.21		1.15		7.83%	 CQR  *	4.050	* 	1,330,887,393		0.0688		1.70%		0.2640	 *	6.52%	* 	58.87		3.31		-22.36%	 DXS  *	1.065	* 	5,153,560,747		0.0680		6.38%		0.0557	 *	5.23%	* 	15.66		1.03		-3.40%	 FKP  *	1.150	* 	369,815,511		0.2940		25.57%		0.0000	 *	0.00%	* 	3.91		3.98		71.11%	 GMG  *	4.870	* 	8,287,187,950		0.2307		4.74%		0.1870	 *	3.84%	* 	21.11		2.64		-84.47%	 GPT  *	3.720	* 	6,572,440,479		0.3360		9.03%		0.1930	 *	5.19%	* 	11.07		3.73		0.27%	 IOF  *	2.960	* 	1,817,580,476		0.1600		5.41%		0.1655	 *	5.59%	* 	18.50		3.14		5.73%	 MGR  *	1.635	* 	5,600,835,482		0.0864		5.28%		0.0860	 *	5.26%	* 	18.92		1.64		0.30%	 SCP  *	1.635	* 	955,167,000		0.1180		7.22%		0.1040	 *	6.36%	* 	13.86		1.58		-3.48%	 SGP  *	3.610	* 	7,951,595,246		0.0130		0.36%		0.2400	 *	6.65%	* 	277.69		3.49		-3.44%	 WDC  *	11.300	* 	25,422,848,005		0.7559		6.69%		0.4950	 *	4.38%	* 	14.95		6.90		-63.77%		WRT	 *	2.990	* 	9,131,956,923		0.2706		9.05%		0.1875	 *	6.27%	* 	11.05		3.42		12.57%	

*Comments:*

*1.* The figures for *FKP* are speculative based on information provided in FKP's Annual Report converting the figures based on the number of shares on issue as at 30-6-12 to the number of shares on issue after the August issue. In addition the initial speculative figures have now been adjusted to reflect the consolidation of  7 shares to 1 share with the resultant number of shares taken from the release dated 13 December 2012. For more information see the FKP site.

*2. *The figures for *SCP* (earnings and distributions) are guideline forecasts for the period 2013 - 2014 extracted from the proposal of 5 October 2012 . The forecasts earnings and distributions for the period ending 30 June 2013 are: Earnings of $0.065 per share and Distributions of $0.056 per share.

*Disclaimer:* The figures in the above table may contain errors and should not be relied upon for investment decisions. 

At these price levels some of the A-REIT's may look like absolute bargains. However, each day over the last two - three weeks the bargains have been getting better and better.  As always do your own research and good luck .


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## skc (8 June 2013)

nulla nulla said:


> At these price levels some of the A-REIT's may look like absolute bargains. However, each day over the last two - three weeks the bargains have been getting better and better.  As always do your own research and good luck .




Take a few steps back and the REITs are only back to their mid-March/April price levels. The last 10% of the up move to mid May was probably the steepest. I remember shorting some names like IOF and CHC and there were basically no ASK to cover, especially in the morning.

To me the question for the prospective investor is whether REIT represents better reward/risk to say banks (similar yields but fully franked), Telstra, utilities (similiar yield but regulated) and other industrials with lower yield but perhaps chance of growth.

That's a trillion $ question I guess!


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## nulla nulla (9 June 2013)

skc said:


> Take a few steps back and the REITs are only back to their mid-March/April price levels. The last 10% of the up move to mid May was probably the steepest. I remember shorting some names like IOF and CHC and there were basically no ASK to cover, especially in the morning.
> 
> To me the question for the prospective investor is whether REIT represents better reward/risk to say banks (similar yields but fully franked), Telstra, utilities (similiar yield but regulated) and other industrials with lower yield but perhaps chance of growth.
> 
> That's a trillion $ question I guess!




My pesonal perspective is that the present economy is not supportive of the likelihood of further growth in the A-REIT sector in the near future (perhaps longer). 

A lack of businees confidence and growth in the non mining sector means that demand for office space will plateau. New developments will compete with existing office space for tennants. A recent report on GPT (thanks coolcup) indicated the competition to lease office space and retain tennants (particularly in Melbourne) is getting more and more intense. The cost of discounting and inducements must eat into earnings. Relying on acquisition and disposal of properties may provide short term additional income but the opportunities for growth in the sector is limited. Sydney is going to feel the pinch also particularly when Barangaroo is finished. A real probability is the revaluation downward of hard to lease office properties impacting on share values.

Retail has been strained for a while and the likes of David Jones provides a good barometer to how tough the retail sector is atm. Retail A-REIt's appear to be relying more and more on Food Court tennants and some specialty stores for foot traffic. The sharp rises in A-REIT's share prices in this area have been disproportionate to the yields on offer and the returns they are getting. People are saving more and spending less, credit card debt is being paid down. Empty sites abound.

While the Aud$ dollar was steady against the US$ the yields were probably very attractive to offshore investors clamouring for returns beter than bond yields and bank interest rates. However, as you point out, the surge since April cut the yields on offer and all it took to bring this undone was an interest rate cut by the RBA and Soros to announce he was selling the Aud$. Goldman Sachs and a few others followed suite. Alan Hohler provided a good chart showing the comparative fall in the All Ords compared to the US s&p500 when considered in US$ values. The recent drop in the value of A-REIT's, if shown on the same basis would be frightening.

Only a short while ago the Fundmangers and analysts were sprooking the Aud$ going to US$1.10. Now on the basis of unfathomable belief that "the US economy is showing signs of improvment", the professional are sprooking the Australian economy as overvalued and selling down our dollar. The sell down of the dollar completely erodes the A-REIT share price spike since Aprill and may cut values back further like a pendulum swing with a little further to go.

The best thing going for A-REIT's since the GFC is that they have all reduced their debt levels, mostly less than 35% and are better positioned to survive any contraction. The second best thing is that most of them are paying out arround 80% of earnings and they are not relying on borrowed funds to pay distributions.

I suspect we will see increased volitility until after the Federal Election. No doubt the volitilty will provide trading  opportunities for the brave. Determining entry/exit points might be tough. With the recent low buy/ask volumes and the smaller parcel sizes showing (particularly early in the day) I am finding it harder to trade with confidence. Personally I wouldn't be jumping in at the present levels for a long term hold.

Oh, and the trillion $ question (US defecit?), chasing yields as a better form of investment in troubled times is like choosing which share is likely to fall less and trying to hedge the amount you may lose against the yields you hope will be maintained. My perspective is to protect the capital base atm. We have reduced our holdings to two (2) parcels and are predominatly cashed up.

As always, this is just my opinion, everyone should do their own research and good luck


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## nulla nulla (16 June 2013)

The Aud$ continued to slide last week and even though the Aud$ rallied on Friday from its low opening point (and lower bottom) it still closed only slightly higher than the previous days close, down for the week.




The A-REIT sector continued to fall reflecting the international investors are still pulling their investment funds out of Australia.




While the pull back may have paused/eased on Thursday/Friday last week the weekly chart doesn't offer any cause for optimism that the drop has finished. It will be interesting to watch the share price action on those shares that will declare a dividend (ex-div in June, pay in August) in the next two weeks. I am wary of the possibility of a dead cat bounce and subsequent fall when they go exdiv.




The updated A-REIT table for closing prices as at 14 June 2013 follows:


*Code*  *	Closing Price	*  *Capital*  *Earnings $*  *ROE*  *Dist $*  *	Yield %	*  *P/E*  *NTA $*  *Discount to NTA*            ALZ  *	3.390	* 	1,955,509,964		0.3120		9.20%		0.2150	 *	6.34%	* 	10.87		3.46		2.02%	 BWP  *	2.410	* 	1,286,086,354		0.1645		6.83%		0.1387	 *	5.76%	* 	14.65		1.87		-28.88%	 CFX  *	1.995	* 	5,642,848,840		0.1148		5.75%		0.1340	 *	6.72%	* 	17.38		2.05		2.68%	 CHC  *	3.750	* 	1,120,066,301		0.0903		2.41%		0.1890	 *	5.04%	* 	41.53		2.12		-76.89%	 CMW  *	0.975	* 	1,194,900,557		0.0526		5.39%		0.0712	 *	7.30%	* 	18.54		0.68		-43.38%	 CPA  *	1.050	* 	2,464,353,584		0.0746		7.10%		0.0640	 *	6.10%	* 	14.08		1.15		8.70%	 CQR  *	3.920	* 	1,288,167,550		0.0688		1.76%		0.2640	 *	6.73%	* 	56.98		3.31		-18.43%	 DXS  *	1.050	* 	5,080,975,385		0.0680		6.48%		0.0557	 *	5.30%	* 	15.44		1.03		-1.94%	 FKP  *	1.235	* 	397,149,701		0.2940		23.81%		0.0000	 *	0.00%	* 	4.20		3.98		68.97%	 GMG  *	4.780	* 	8,134,036,633		0.2307		4.83%		0.1870	 *	3.91%	* 	20.72		2.64		-81.06%	 GPT  *	3.740	* 	6,607,776,181		0.3360		8.98%		0.1930	 *	5.16%	* 	11.13		3.73		-0.27%	 IOF  *	2.950	* 	1,811,440,001		0.1600		5.42%		0.1655	 *	5.61%	* 	18.44		3.14		6.05%	 MGR  *	1.585	* 	5,429,556,110		0.0864		5.45%		0.0860	 *	5.43%	* 	18.34		1.64		3.35%	 SCP  *	1.610	* 	940,562,000		0.1180		7.33%		0.1040	 *	6.46%	* 	13.64		1.58		-1.90%	 SGP  *	3.610	* 	7,951,595,246		0.0130		0.36%		0.2400	 *	6.65%	* 	277.69		3.49		-3.44%	 WDC  *	11.140	* 	25,062,878,476		0.7559		6.79%		0.4950	 *	4.44%	* 	14.74		6.90		-61.45%		WRT	 *	2.930	* 	8,948,706,951		0.2706		9.24%		0.1875	 *	6.40%	* 	10.83		3.42		14.33%	

*Comments:*

*1.* The figures for *FKP* are speculative based on information provided in FKP's Annual Report converting the figures based on the number of shares on issue as at 30-6-12 to the number of shares on issue after the August issue. In addition the initial speculative figures have now been adjusted to reflect the consolidation of  7 shares to 1 share with the resultant number of shares taken from the release dated 13 December 2012. For more information see the FKP site.

*2.* The figures for *SCP* (earnings and distributions) are guideline forecasts for the period 2013 - 2014 extracted from the proposal of 5 October 2012 . The forecasts earnings and distributions for the period ending 30 June 2013 are: Earnings of $0.065 per share and Distributions of $0.056 per share.

*Disclaimer:* The figures in the above table likely contain errors (due to recent share issues, share buy backs and earnings upgrades/downgrades) and should not be relied upon for investment decisions. As always do your own research and good luck .


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## nulla nulla (23 June 2013)

Another volitile week in the A-REIT sector. It took three days for many of the shares to struggle off the recent bottom, many of them propped up by the prospects of a dividend (Ex-div on Monday 24th June, payable in August) only to collapse again on Thursday and Friday due to perceived slowing in the Chinese growth rate and Mr Bernake outlining his plan for reducing quantative easing in 2014.




The A-REIT table for closing prices on Friday 21 June 2013 follows. I have updated shares on issue, earnings and yields were I have found updates to reflect recent company changes. I apologise in advance for any errors or omissions:


*Code*  *	Closing Price	*  *Capital*  *Earnings $*  *ROE*  *Dist $*  *	Yield %	*  *P/E*  *NTA $*  *Discount to NTA*            ALZ  *	3.340	* 	1,931,604,398		0.3120		9.34%		0.2150	 *	6.44%	* 	10.71		3.46		3.47%	 BWP  *	2.310	* 	1,242,211,634		0.1645		7.12%		0.1410	 *	6.10%	* 	14.04		1.87		-23.53%	 CFX  *	1.995	* 	5,642,848,840		0.1180		5.91%		0.1340	 *	6.72%	* 	16.91		2.05		2.68%	 CHC  *	3.780	* 	1,142,551,551		0.0903		2.39%		0.2020	 *	5.34%	* 	41.86		2.12		-78.30%	 CMW  *	0.985	* 	1,633,859,222		0.0526		5.34%		0.0724	 *	7.35%	* 	18.73		0.68		-44.85%	 CPA  *	1.075	* 	2,523,028,669		0.0746		6.94%		0.0655	 *	6.09%	* 	14.41		1.15		6.52%	 CQR  *	3.990	* 	1,346,956,066		0.0688		1.72%		0.2680	 *	6.72%	* 	57.99		3.31		-20.54%	 DXS  *	1.035	* 	5,008,390,022		0.0680		6.57%		0.0557	 *	5.38%	* 	15.22		1.03		-0.49%	 FKP  *	1.150	* 	369,815,511		0.2940		25.57%		0.0100	 *	0.87%	* 	3.91		3.98		71.11%	 GMG  *	4.720	* 	8,086,464,230		0.2307		4.89%		0.1870	 *	3.96%	* 	20.46		2.64		-78.79%	 GPT  *	3.710	* 	6,561,994,715		0.3360		9.06%		0.1980	 *	5.34%	* 	11.04		3.73		0.54%	 IOF  *	2.890	* 	1,774,597,154		0.1600		5.54%		0.1775	 *	6.14%	* 	18.06		3.14		7.96%	 MGR  *	1.580	* 	5,787,089,318		0.0864		5.47%		0.0870	 *	5.51%	* 	18.29		1.64		3.66%	 SCP  *	1.650	* 	1,059,988,281		0.1220		7.39%		0.1080	 *	6.55%	* 	13.52		1.56		-5.77%	 SGP  *	3.570	* 	8,231,530,167		0.0130		0.36%		0.2400	 *	6.72%	* 	274.62		3.49		-2.29%	 WDC  *	11.150	* 	24,464,643,718		0.7579		6.80%		0.4950	 *	4.44%	* 	14.71		6.90		-61.59%		WRT	 *	2.910	* 	8,887,623,627		0.2706		9.30%		0.1875	 *	6.44%	* 	10.75		3.42		14.91%	


*Comments:*

*1. *The figures for *FKP* are speculative based on information provided in FKP's Annual Report converting the figures based on the number of shares on issue as at 30-6-12 to the number of shares on issue after the August 2012 issue. In addition the initial speculative figures have now been adjusted to reflect the consolidation of  7 shares to 1 share with the resultant number of shares taken from the release dated 13 December 2012. For year ending 30 June 2013, FKP will pay a dividend of $0.01c per share going ex-div on 24 June 2013 payable on 20 September 2013. For more information see the FKP site.

*2.* The figures for* SCP *(earnings and distributions) are guideline forecasts for the period 2013 - 2014 extracted from the proposal of 5 October 2012 and updated per their release of 13 June 2013. As forecast, SCP distribution for the period ending 30 June 2013 is $0.056c per share, Ex-div date 24 June 2013 payable 28 August 2013.

*Disclaimer:* The figures in the above table may contain errors and should not be relied upon for investment decisions. As always do your own research and good luck  .


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## nulla nulla (30 June 2013)

A slightly better close this week than last week. However foreign investors continued to pull their funds out of Australian shares, Gold continued to fall and the Aud$ appears to be struggling to hold the US$0.92 level. 

Hard to tell whether there was any merit in the suggestion that our market was bouyed toward the end of the week by the return of K Rudd to the Prime Ministership (temporary though it may be). It is possible the A-REIT's are starting to look attractive to foreign investors again with the combo of low prices and the lower dollar. I suspect there may have been a little bit of portfolio re-weighting on Thursday/Friday by fund managers. It will be interesting to see how many of this weeks improvers can hold their gains next week.




The update table of A-REIT's for closing prices as at Friday 28 June 2013 follows:


*Code*  *	Closing Price	*  *Capital*  *Earnings $*  *ROE*  *Dist $*  *	Yield %	*  *P/E*  *NTA $*  *Discount to NTA*            ALZ  *	3.480	* 	2,012,569,852		0.3120		8.97%		0.2150	 *	6.18%	* 	11.15		3.46		-0.58%	 BWP  *	2.250	* 	1,209,946,397		0.1645		7.31%		0.1410	 *	6.27%	* 	13.68		1.87		-20.32%	 CFX  *	2.000	* 	5,656,991,318		0.1180		5.90%		0.1340	 *	6.70%	* 	16.95		2.05		2.44%	 CHC  *	3.870	* 	1,169,755,159		0.0903		2.33%		0.2020	 *	5.22%	* 	42.86		2.12		-82.55%	 CMW  *	0.975	* 	1,617,271,819		0.0526		5.39%		0.0724	 *	7.43%	* 	18.54		0.68		-43.38%	 CPA  *	1.100	* 	2,581,703,754		0.0746		6.78%		0.0655	 *	5.95%	* 	14.75		1.15		4.35%	 CQR  *	3.810	* 	1,286,191,131		0.0688		1.81%		0.2680	 *	7.03%	* 	55.38		3.31		-15.11%	 DXS  *	1.070	* 	5,177,755,868		0.0680		6.36%		0.0557	 *	5.21%	* 	15.74		1.03		-3.88%	 FKP  *	1.270	* 	408,404,955		0.2940		23.15%		0.0100	 *	0.79%	* 	4.32		3.98		68.09%	 GMG  *	4.880	* 	8,360,581,661		0.2307		4.73%		0.1870	 *	3.83%	* 	21.15		2.64		-84.85%	 GPT  *	3.840	* 	6,791,929,839		0.3360		8.75%		0.1980	 *	5.16%	* 	11.43		3.73		-2.95%	 IOF  *	2.910	* 	1,786,878,103		0.1600		5.50%		0.1775	 *	6.10%	* 	18.19		3.14		7.32%	 MGR  *	1.605	* 	5,878,657,187		0.0864		5.38%		0.0870	 *	5.42%	* 	18.58		1.64		2.13%	 SCP  *	1.590	* 	1,021,443,253		0.1220		7.67%		0.1080	 *	6.79%	* 	13.03		1.56		-1.92%	 SGP  *	3.480	* 	8,024,012,600		0.0130		0.37%		0.2400	 *	6.90%	* 	267.69		3.49		0.29%	 WDC  *	11.440	* 	25,100,943,868		0.7579		6.63%		0.4950	 *	4.33%	* 	15.09		6.90		-65.80%		WRT	 *	3.100	* 	9,467,915,205		0.2706		8.73%		0.1875	 *	6.05%	* 	11.46		3.42		9.36%	


*Comments:*

*1.* The figures for *FKP* are speculative based on information provided in FKP's Annual Report converting the figures based on the number of shares on issue as at 30-6-12 to the number of shares on issue after the August 2012 issue. In addition the initial speculative figures have now been adjusted to reflect the consolidation of  7 shares to 1 share with the resultant number of shares taken from the release dated 13 December 2012. For year ending 30 June 2013, FKP will pay a dividend of $0.01c per share going ex-div on 24 June 2013 payable on 20 September 2013. For more information see the FKP site.

*2.* The figures for *SCP *(earnings and distributions) are guideline forecasts for the period 2013 - 2014 extracted from the proposal of 5 October 2012 and updated per their release of 13 June 2013. As forecast SCP distribution for the period ending 30 June 2013 is $0.056c per share, Ex-div date 24 June 2013 payable 28 August 2013.

*Disclaimer:* The figures in the above table may contain errors and should not be relied upon for investment decisions. As always do your own research and good luck.


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## skc (30 June 2013)

nulla nulla said:


> A slightly better close this week than last week. However foreign investors continued to pull their funds out of Australian shares, Gold continued to fall and the Aud$ appears to be struggling to hold the US$0.92 level.




Consider adding ABP, FDC and CDI to your trade universe....


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## nulla nulla (3 July 2013)

skc said:


> Consider adding ABP, FDC and CDI to your trade universe....




G'day skc, sorry for the slow reply. ABP is already on my expanded watchlist, just not on the summary posted above. I have added FDC and CDI to my list and will research them and evaluate them against our trading strategies. Thanks & cheers.


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## skc (3 July 2013)

nulla nulla said:


> G'day skc, sorry for the slow reply. ABP is already on my expanded watchlist, just not on the summary posted above. I have added FDC and CDI to my list and will research them and evaluate them against our trading strategies. Thanks & cheers.




FDC is the old Centro and I find that very good trading with heaps of liquidity. CDI is a bit thin at the best of times so depending on your volume it may or may not suit your strategy.

ABP goes ex-div Friday btw.


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## nulla nulla (6 July 2013)

The A-REIT table for closing prices for weekending 5 July 2013 follows: 


*Code*  *	Closing Price	*  *Capital*  *Earnings $*  *ROE*  *Dist $*  *	Yield %	*  *P/E*  *NTA $*  *Discount to NTA*            ABP  *	2.230	* 	1,010,279,213		0.0683		3.06%		0.1650	 *	7.40%	* 	32.65		2.30		3.04%	 ALZ  *	3.490	* 	2,018,353,098		0.3120		8.94%		0.2150	 *	6.16%	* 	11.19		3.46		-0.87%	 BWP  *	2.360	* 	1,269,099,331		0.1645		6.97%		0.1410	 *	5.97%	* 	14.35		1.87		-26.20%	 CDI  *	2.370	* 	507,419,401		0.1973		8.32%		0.1780	 *	7.51%	* 	12.01		2.74		13.50%	 CFX  *	1.960	* 	5,543,851,492		0.1180		6.02%		0.1340	 *	6.84%	* 	16.61		2.05		4.39%	 CHC  *	3.860	* 	1,166,732,536		0.0903		2.34%		0.2020	 *	5.23%	* 	42.75		2.12		-82.08%	 CMW  *	0.990	* 	1,642,152,924		0.0526		5.31%		0.0724	 *	7.31%	* 	18.82		0.68		-45.59%	 CPA  *	1.120	* 	2,628,643,823		0.0746		6.66%		0.0655	 *	5.85%	* 	15.01		1.15		2.61%	 CQR  *	3.790	* 	1,279,439,471		0.0688		1.82%		0.2680	 *	7.07%	* 	55.09		3.31		-14.50%	 DXS  *	1.080	* 	5,226,146,110		0.0680		6.30%		0.0557	 *	5.16%	* 	15.88		1.03		-4.85%	 FDC  *	2.380	* 	3,397,786,925		-0.0824		-3.46%		0.1410	 *	5.92%	* 	-28.88		2.22		-7.21%	 FKP  *	1.365	* 	438,954,932		0.2940		21.54%		0.0100	 *	0.73%	* 	4.64		3.98		65.70%	 GMG  *	4.940	* 	8,463,375,698		0.2307		4.67%		0.1870	 *	3.79%	* 	21.41		2.64		-87.12%	 GPT  *	3.860	* 	6,827,304,474		0.3360		8.70%		0.1980	 *	5.13%	* 	11.49		3.73		-3.49%	 IOF  *	2.980	* 	1,829,861,425		0.1600		5.37%		0.1775	 *	5.96%	* 	18.63		3.14		5.10%	 MGR  *	1.680	* 	6,153,360,793		0.0864		5.14%		0.0870	 *	5.18%	* 	19.44		1.64		-2.44%	 SCP  *	1.605	* 	1,031,079,510		0.1220		7.60%		0.1080	 *	6.73%	* 	13.16		1.56		-2.88%	 SGP  *	3.530	* 	8,139,300,137		0.0130		0.37%		0.2400	 *	6.80%	* 	271.54		3.49		-1.15%	 WDC  *	11.800	* 	25,890,833,710		0.7579		6.42%		0.4950	 *	4.19%	* 	15.57		6.90		-71.01%		WRT	 *	3.070	* 	9,376,290,219		0.2706		8.81%		0.1875	 *	6.11%	* 	11.35		3.42		10.23%	


*Comments:*:
*1.*. The figures for *FKP* are speculative based on information provided in FKP's Annual Report converting the figures based on the number of shares on issue as at 30-6-12 to the number of shares on issue after the August 2012 issue. In addition the initial speculative figures have now been adjusted to reflect the consolidation of  7 shares to 1 share with the resultant number of shares taken from the release dated 13 December 2012. For year ending 30 June 2013, FKP will pay a dividend of $0.01c per share going ex-div on 24 June 2013 payable on 20 September 2013. For more information see the FKP site.

*2.*. The figures for *SCP* (earnings and distributions) are guideline forecasts for the period 2013 - 2014 extracted from the proposal of 5 October 2012 and updated per their release of 13 June 2013. As forecast SCP distribution for the period ending 30 June 2013 is $0.056c per share, Ex-div date 24 June 2013 payable 28 August 2013.

*3.* Inclusion of any share details in the above table is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* The figures in the above table may contain errors and should not be relied upon for investment decisions. As always do your own research and good luck


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## nulla nulla (14 July 2013)

Another volatile week in the *A-REIT *sector with many of the shares closing at their lows for the week. The All Ords has staged a small recovery but any advances in the A-REIT sector appear to be reversed by the continued sell off by off-shore investors taking advantage of any share price recovery and/or improvement in the Aud$.

It seems that the prices are attractive to some local investors chasing yield on intrinsic value and possibly some off shore investors combining yield on intrinsic value and a lower Aud$ entry point. But the battle is fierce and it is hard to tell who is winning. The experts are now predicting a lower Aud$ so there is going to be plenty of volitility in the weeks ahead.




The *A-REIT *table for closing prices as at week ending *12 July 2013 *follows:


*Code*  *	Closing Price	*  *Capital*  *Earnings $*  *ROE*  *Dist $*  *	Yield %	*  *P/E*  *NTA $*  *Discount to NTA*            ABP  *	2.180	* 	987,627,213		0.0683		3.13%		0.1650	 *	7.57%	* 	31.92		2.30		5.22%	 ALZ  *	3.540	* 	2,047,269,332		0.3120		8.81%		0.2150	 *	6.07%	* 	11.35		3.46		-2.31%	 BWP  *	2.430	* 	1,306,742,108		0.1645		6.77%		0.1410	 *	5.80%	* 	14.77		1.87		-29.95%	 CDI  *	2.450	* 	524,547,482		0.1973		8.05%		0.1780	 *	7.27%	* 	12.42		2.74		10.58%	 CFX  *	1.935	* 	5,473,139,100		0.1180		6.10%		0.1340	 *	6.93%	* 	16.40		2.05		5.61%	 CHC  *	3.930	* 	1,187,890,898		0.0903		2.30%		0.2020	 *	5.14%	* 	43.52		2.12		-85.38%	 CMW  *	0.980	* 	1,625,565,520		0.0526		5.37%		0.0724	 *	7.39%	* 	18.63		0.68		-44.12%	 CPA  *	1.100	* 	2,581,703,754		0.0746		6.78%		0.0655	 *	5.95%	* 	14.75		1.15		4.35%	 CQR  *	3.870	* 	1,306,446,109		0.0688		1.78%		0.2680	 *	6.93%	* 	56.25		3.31		-16.92%	 DXS  *	1.055	* 	5,105,170,506		0.0680		6.45%		0.0557	 *	5.28%	* 	15.51		1.03		-2.43%	 FDC  *	2.330	* 	3,326,404,846		-0.0824		-3.54%		0.1410	 *	6.05%	* 	-28.28		2.22		-4.95%	 FKP  *	1.340	* 	430,915,465		0.2940		21.94%		0.0100	 *	0.75%	* 	4.56		3.98		66.33%	 GMG  *	4.720	* 	8,086,464,230		0.2307		4.89%		0.1870	 *	3.96%	* 	20.46		2.64		-78.79%	 GPT  *	3.830	* 	6,717,358,680		0.3360		8.77%		0.1980	 *	5.17%	* 	11.40		3.73		-2.68%	 IOF  *	2.920	* 	1,793,018,577		0.1600		5.48%		0.1775	 *	6.08%	* 	18.25		3.14		7.01%	 MGR  *	1.625	* 	5,951,911,482		0.0864		5.32%		0.0870	 *	5.35%	* 	18.81		1.64		0.91%	 SCP  *	1.625	* 	1,043,927,853		0.1220		7.51%		0.1080	 *	6.65%	* 	13.32		1.56		-4.17%	 SGP  *	3.510	* 	8,093,185,122		0.0130		0.37%		0.2400	 *	6.84%	* 	270.00		3.49		-0.57%	 WDC  *	11.480	* 	25,188,709,406		0.7579		6.60%		0.4950	 *	4.31%	* 	15.15		6.90		-66.38%		WRT	 *	3.070	* 	9,376,290,219		0.2706		8.81%		0.1875	 *	6.11%	* 	11.35		3.42		10.23%	


*Comments:*:

*1.*. The figures for *FKP* are speculative based on information provided in FKP's Annual Report converting the figures based on the number of shares on issue as at 30-6-12 to the number of shares on issue after the August 2012 issue. In addition the initial speculative figures have now been adjusted to reflect the consolidation of  7 shares to 1 share with the resultant number of shares taken from the release dated 13 December 2012. For year ending 30 June 2013, FKP will pay a dividend of $0.01c per share going ex-div on 24 June 2013 payable on 20 September 2013. For more information see the FKP site.

*2.*. The figures for *SCP* (earnings and distributions) are guideline forecasts for the period 2013 - 2014 extracted from the proposal of 5 October 2012 and updated per their release of 13 June 2013. As forecast SCP distribution for the period ending 30 June 2013 is $0.056c per share, Ex-div date 24 June 2013 payable 28 August 2013.

*3.*. Inclusion of any share details in the above table is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* The figures in the above table may contain errors and should not be relied upon for investment decisions. As always do your own research and good luck


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## nulla nulla (20 July 2013)

The *A-REIT *sector moved in a very tight range this week. The volitility continued to provide trade opportunities for the quick and the insane as prices plunged one day only to jump back higher the next. The Aud$ continues to jump around (seems to depend on what Bernake has to say from day to day). Volumes are erratic from day to day and even through the day. 




The updated *A-REIT *table for closing prices on *Friday 19 July 2018 *follows:



*Code*  *	Closing Price	*  *Capital*  *Earnings $*  *ROE*  *Dist $*  *	Yield %	*  *P/E*  *NTA $*  *Discount to NTA*            ABP  *	2.250	* 	1,019,340,014		0.0683		3.04%		0.1650	 *	7.33%	* 	32.94		2.30		2.17%	 ALZ  *	3.600	* 	2,081,968,812		0.3120		8.67%		0.2150	 *	5.97%	* 	11.54		3.46		-4.05%	 BWP  *	2.640	* 	1,419,670,439		0.1645		6.23%		0.1410	 *	5.34%	* 	16.05		1.87		-41.18%	 CDI  *	2.490	* 	533,111,522		0.1973		7.92%		0.1780	 *	7.15%	* 	12.62		2.74		9.12%	 CFX  *	1.950	* 	5,515,566,535		0.1180		6.05%		0.1340	 *	6.87%	* 	16.53		2.05		4.88%	 CHC  *	3.820	* 	1,154,642,043		0.0903		2.36%		0.2020	 *	5.29%	* 	42.30		2.12		-80.19%	 CMW  *	0.975	* 	1,617,271,819		0.0526		5.39%		0.0724	 *	7.43%	* 	18.54		0.68		-43.38%	 CPA  *	1.125	* 	2,640,378,840		0.0746		6.63%		0.0655	 *	5.82%	* 	15.08		1.15		2.17%	 CQR  *	3.900	* 	1,316,573,599		0.0688		1.76%		0.2680	 *	6.87%	* 	56.69		3.31		-17.82%	 DXS  *	1.065	* 	5,153,560,747		0.0680		6.38%		0.0557	 *	5.23%	* 	15.66		1.03		-3.40%	 FDC  *	2.290	* 	3,269,299,184		-0.0824		-3.60%		0.1410	 *	6.16%	* 	-27.79		2.22		-3.15%	 FKP  *	1.355	* 	435,739,145		0.2940		21.70%		0.0100	 *	0.74%	* 	4.61		3.98		65.95%	 GMG  *	4.760	* 	8,154,993,588		0.2307		4.85%		0.1870	 *	3.93%	* 	20.63		2.64		-80.30%	 GPT  *	3.780	* 	6,629,664,703		0.3360		8.89%		0.1980	 *	5.24%	* 	11.25		3.73		-1.34%	 IOF  *	2.980	* 	1,829,861,425		0.1600		5.37%		0.1775	 *	5.96%	* 	18.63		3.14		5.10%	 MGR  *	1.635	* 	5,988,538,629		0.0864		5.28%		0.0870	 *	5.32%	* 	18.92		1.64		0.30%	 SCP  *	1.675	* 	1,076,048,710		0.1220		7.28%		0.1080	 *	6.45%	* 	13.73		1.56		-7.37%	 SGP  *	3.490	* 	8,047,070,107		0.0130		0.37%		0.2400	 *	6.88%	* 	268.46		3.49		0.00%	 WDC  *	11.340	* 	24,881,530,023		0.7579		6.68%		0.4950	 *	4.37%	* 	14.96		6.90		-64.35%		WRT	 *	3.140	* 	9,590,081,852		0.2706		8.62%		0.1875	 *	5.97%	* 	11.60		3.42		8.19%	

*Comments:*:

*1.* The figures for *FKP* are speculative based on information provided in FKP's Annual Report converting the figures based on the number of shares on issue as at 30-6-12 to the number of shares on issue after the August 2012 issue. In addition the initial speculative figures have now been adjusted to reflect the consolidation of  7 shares to 1 share with the resultant number of shares taken from the release dated 13 December 2012. For year ending 30 June 2013, FKP will pay a dividend of $0.01c per share going ex-div on 24 June 2013 payable on 20 September 2013. For more information see the FKP site.

*2.* The figures for *SCP* (earnings and distributions) are guideline forecasts for the period 2013 - 2014 extracted from the proposal of 5 October 2012 and updated per their release of 13 June 2013. As forecast SCP distribution for the period ending 30 June 2013 is $0.056c per share, Ex-div date 24 June 2013 payable 28 August 2013.

*3.* Inclusion of any share details in the above table is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* The figures in the above table may contain errors and should not be relied upon for investment decisions. As always do your own research and good luck  .


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## nulla nulla (27 July 2013)

The Commonwealth Bank certainly contributed to a burst of life within the *A-REIT* sector this week when they invited the likes of CFX and CPA to "internalise" their own management. I suspect this means that they each pay the CBA a hefty break fee for CBA handing over the management rights for them to manage themselves. A little bit like Macquarie Airport paying out Macquarie Bank to "internalise" management. 

Dexus was out of the gate like a greyhound after the rabbit, snapping up rights to a 14.9% stake in CPA. Not sure if it is enough to take control but it probably is enough to stymie anyone else think of launching a takeover (GPT?). At anyrate the share price of CFX and CPA (and to a lessor extent DXS) jumped and several of the other A-REIT's share prices also recovered from their previous weeks lows. 

The sector chart shows a rebound to the level of 10.45 however this level is starting to look like a resistance point. It will be interesting to see whether or not the sector can maintain Thursday/Fridays momentum and push higher..or not?




The *A-REIT *table of closing prices for *Friday 26 July 2013* follows:


*Code*  *	Closing Price	*  *Capital*  *Earnings $*  *ROE*  *Dist $*  *	Yield %	*  *P/E*  *NTA $*  *Discount to NTA*            ABP  *	2.260	* 	1,023,870,414		0.0683		3.02%		0.1650	 *	7.30%	* 	33.09		2.30		1.74%	 ALZ  *	3.520	* 	2,035,702,838		0.3120		8.86%		0.2150	 *	6.11%	* 	11.28		3.46		-1.73%	 BWP  *	2.560	* 	1,376,650,122		0.1645		6.43%		0.1410	 *	5.51%	* 	15.56		1.87		-36.90%	 CDI  *	2.480	* 	530,970,512		0.1973		7.96%		0.1780	 *	7.18%	* 	12.57		2.74		9.49%	 CFX  *	2.040	* 	5,770,131,144		0.1180		5.78%		0.1340	 *	6.57%	* 	17.29		2.05		0.49%	 CHC  *	3.970	* 	1,199,981,391		0.0903		2.27%		0.2020	 *	5.09%	* 	43.96		2.12		-87.26%	 CMW  *	0.980	* 	1,625,565,520		0.0526		5.37%		0.0724	 *	7.39%	* 	18.63		0.68		-44.12%	 CPA  *	1.170	* 	2,745,993,993		0.0746		6.38%		0.0655	 *	5.60%	* 	15.68		1.15		-1.74%	 CQR  *	3.920	* 	1,323,325,258		0.0688		1.76%		0.2680	 *	6.84%	* 	56.98		3.31		-18.43%	 DXS  *	1.065	* 	5,153,560,747		0.0680		6.38%		0.0557	 *	5.23%	* 	15.66		1.03		-3.40%	 FDC  *	2.320	* 	3,312,128,431		-0.0824		-3.55%		0.1410	 *	6.08%	* 	-28.16		2.22		-4.50%	 FKP  *	1.460	* 	469,504,909		0.2940		20.14%		0.0100	 *	0.68%	* 	4.97		3.98		63.32%	 GMG  *	4.810	* 	8,240,655,285		0.2307		4.80%		0.1870	 *	3.89%	* 	20.85		2.64		-82.20%	 GPT  *	3.800	* 	6,622,838,907		0.3360		8.84%		0.1980	 *	5.21%	* 	11.31		3.73		-1.88%	 IOF  *	2.990	* 	1,836,001,899		0.1600		5.35%		0.1775	 *	5.94%	* 	18.69		3.14		4.78%	 MGR  *	1.700	* 	6,226,615,089		0.0864		5.08%		0.0870	 *	5.12%	* 	19.68		1.64		-3.66%	 SCP  *	1.630	* 	1,047,139,938		0.1220		7.48%		0.1080	 *	6.63%	* 	13.36		1.56		-4.49%	 SGP  *	3.670	* 	8,462,105,241		0.0130		0.35%		0.2400	 *	6.54%	* 	282.31		3.49		-5.16%	 WDC  *	11.570	* 	25,386,181,867		0.7579		6.55%		0.4950	 *	4.28%	* 	15.27		6.90		-67.68%		WRT	 *	3.080	* 	9,406,831,881		0.2706		8.79%		0.1875	 *	6.09%	* 	11.38		3.42		9.94%	


*Comments:*:

*1.* The figures for *FKP* are speculative based on information provided in FKP's Annual Report converting the figures based on the number of shares on issue as at 30-6-12 to the number of shares on issue after the August 2012 issue. In addition the initial speculative figures have now been adjusted to reflect the consolidation of  7 shares to 1 share with the resultant number of shares taken from the release dated 13 December 2012. For year ending 30 June 2013, FKP will pay a dividend of $0.01c per share going ex-div on 24 June 2013 payable on 20 September 2013. For more information see the FKP site.

*2.* The figures for *SCP* (earnings and distributions) are guideline forecasts for the period 2013 - 2014 extracted from the proposal of 5 October 2012 and updated per their release of 13 June 2013. As forecast SCP distribution for the period ending 30 June 2013 is $0.056c per share, Ex-div date 24 June 2013 payable 28 August 2013.

*3.* Inclusion of any share details in the above table is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* The figures in the above table may contain errors and should not be relied upon for investment decisions. As always do your own research and good luck .


----------



## nulla nulla (3 August 2013)

With the possible exception of FKP it was not a good week for the *A-REIT *sector. The resistance point on last weeks chart not only proved resistant but the support level was breached as the sell down of the Aud$ accelerated in the later part of the week and foreign investors continued to withdraw investment funds from Australia for the "recovering" US economy (If it wasn't so sad it would be funny). 

For comparison purposes I am posting three charts this week.

The first is the six month chart for the *All Ords*: 




The second is the six month chart for the *A-REIT sector*:




The third is the *Aud$ versus the US$* for the past six (6) years:




There should be no doubt in anyones mind that the falling Aud$ is having a detrimental effect on the A-REIT share prices. With speculation that the Aud$ will fall to US$0.85 (or even lower) it is highly likely that the A-REIT share prices could drift lower as well. I didn't particularly care for the way in which the Aud$ fell through the lower channel marker arround US$0.90 this week. I hope we are not gearing up for a plunge if the RBA announces a rate cut next Tuesday.

The updated table for *A-REIT *share prices as at close of business *Friday 2 August 2013 *follows:


*Code*  *	Closing Price	*  *Capital*  *Earnings $*  *ROE*  *Dist $*  *	Yield %	*  *P/E*  *NTA $*  *Discount to NTA*            ABP  *	2.220	* 	1,005,748,813		0.0683		3.08%		0.1650	 *	7.43%	* 	32.50		2.30		3.48%	 ALZ  *	3.440	* 	1,989,436,865		0.3120		9.07%		0.2150	 *	6.25%	* 	11.03		3.46		0.58%	 BWP  *	2.400	* 	1,290,609,490		0.1645		6.85%		0.1410	 *	5.88%	* 	14.59		1.87		-28.34%	 CDI  *	2.430	* 	520,265,462		0.1973		8.12%		0.1780	 *	7.33%	* 	12.32		2.74		11.31%	 CFX  *	2.070	* 	5,854,986,014		0.1180		5.70%		0.1340	 *	6.47%	* 	17.54		2.05		-0.98%	 CHC  *	3.750	* 	1,133,483,681		0.0903		2.41%		0.2020	 *	5.39%	* 	41.53		2.12		-76.89%	 CMW  *	0.970	* 	1,608,978,117		0.0526		5.42%		0.0724	 *	7.46%	* 	18.44		0.68		-42.65%	 CPA  *	1.150	* 	2,699,053,925		0.0746		6.49%		0.0655	 *	5.70%	* 	15.42		1.15		0.00%	 CQR  *	3.890	* 	1,313,197,769		0.0688		1.77%		0.2680	 *	6.89%	* 	56.54		3.31		-17.52%	 DXS  *	1.015	* 	4,911,609,539		0.0680		6.70%		0.0557	 *	5.49%	* 	14.93		1.03		1.46%	 FDC  *	2.260	* 	3,226,469,937		-0.0824		-3.65%		0.1410	 *	6.24%	* 	-27.43		2.22		-1.80%	 FKP  *	1.500	* 	482,368,058		0.2940		19.60%		0.0100	 *	0.67%	* 	5.10		3.98		62.31%	 GMG  *	4.690	* 	8,035,067,211		0.2307		4.92%		0.1870	 *	3.99%	* 	20.33		2.64		-77.65%	 GPT  *	3.590	* 	6,256,839,915		0.3360		9.36%		0.1980	 *	5.52%	* 	10.68		3.73		3.75%	 IOF  *	2.860	* 	1,756,175,730		0.1600		5.59%		0.1775	 *	6.21%	* 	17.88		3.14		8.92%	 MGR  *	1.625	* 	5,951,911,482		0.0864		5.32%		0.0870	 *	5.35%	* 	18.81		1.64		0.91%	 SCP  *	1.580	* 	1,015,019,081		0.1220		7.72%		0.1080	 *	6.84%	* 	12.95		1.56		-1.28%	 SGP  *	3.620	* 	8,346,817,704		0.0130		0.36%		0.2400	 *	6.63%	* 	278.46		3.49		-3.72%	 WDC  *	11.300	* 	24,793,764,485		0.7579		6.71%		0.4950	 *	4.38%	* 	14.91		6.90		-63.77%		WRT	 *	2.980	* 	9,101,415,261		0.2706		9.08%		0.1875	 *	6.29%	* 	11.01		3.42		12.87%	

*Comments:*:

*1.* The figures for *FKP* are speculative based on information provided in FKP's Annual Report converting the figures based on the number of shares on issue as at 30-6-12 to the number of shares on issue after the August 2012 issue. In addition the initial speculative figures have now been adjusted to reflect the consolidation of  7 shares to 1 share with the resultant number of shares taken from the release dated 13 December 2012. For year ending 30 June 2013, FKP will pay a dividend of $0.01c per share going ex-div on 24 June 2013 payable on 20 September 2013. For more information see the FKP site.

*2.* The figures for *SCP* (earnings and distributions) are guideline forecasts for the period 2013 - 2014 extracted from the proposal of 5 October 2012 and updated per their release of 13 June 2013. As forecast SCP distribution for the period ending 30 June 2013 is $0.056c per share, Ex-div date 24 June 2013 payable 28 August 2013.

*3.* Inclusion of any share details in the above table is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* The figures in the above table may contain errors and should not be relied upon for investment decisions. As always do your own research and good luck  .


----------



## nulla nulla (10 August 2013)

The Americans can't make up their minds as to whether their economy is improving or not and whether there will be a slowing of the quantative easing or not. The Aud$ dropped below US$0.89 then rallied to US$0.92. Yield chasing has begun again in the All Ords but this time the market appears to be shunning the A-REIT's and pursuing the banks and Telstra. CBA hit a new record high (not bad when the All Ords is only in the range 5000-5200), the other banks are up and Telstra is above $5.00. Seems franking credits are back in favour for Australian share buyers but of no use to offshore investors.

The property sector chart shows that there was a rebound from last weeks low but it was a weak one and fell back in the late stages of Fridays trading. The uncertainty in the office property REIT's continues. Maybe it will settle down once the reporting gets underway next week. 




The table for A-REIT closing prices as at Friday 02 August 2013 follows:


*Code*  *	Closing Price	*  *Capital*  *Earnings $*  *ROE*  *Dist $*  *	Yield %	*  *P/E*  *NTA $*  *Discount to NTA*            ABP  *	2.180	* 	987,627,213		0.0683		3.13%		0.1650	 *	7.57%	* 	31.92		2.30		5.22%	 ALZ  *	3.430	* 	1,983,653,618		0.3120		9.10%		0.2150	 *	6.27%	* 	10.99		3.46		0.87%	 BWP  *	2.390	* 	1,285,231,950		0.1645		6.88%		0.1410	 *	5.90%	* 	14.53		1.87		-27.81%	 CDI  *	2.550	* 	545,957,583		0.1973		7.74%		0.1780	 *	6.98%	* 	12.92		2.74		6.93%	 CFX  *	2.100	* 	5,939,840,884		0.1180		5.62%		0.1340	 *	6.38%	* 	17.80		2.05		-2.44%	 CHC  *	3.660	* 	1,106,280,073		0.0903		2.47%		0.2020	 *	5.52%	* 	40.53		2.12		-72.64%	 CMW  *	0.965	* 	1,600,684,416		0.0526		5.45%		0.0724	 *	7.50%	* 	18.35		0.68		-41.91%	 CPA  *	1.180	* 	2,769,464,027		0.0746		6.32%		0.0655	 *	5.55%	* 	15.82		1.15		-2.61%	 CQR  *	3.790	* 	1,279,439,471		0.0688		1.82%		0.2680	 *	7.07%	* 	55.09		3.31		-14.50%	 DXS  *	1.030	* 	4,984,194,901		0.0680		6.60%		0.0557	 *	5.41%	* 	15.15		1.03		0.00%	 FDC  *	2.270	* 	3,240,746,353		-0.0824		-3.63%		0.1410	 *	6.21%	* 	-27.55		2.22		-2.25%	 FKP  *	1.450	* 	466,289,122		0.2940		20.28%		0.0100	 *	0.69%	* 	4.93		3.98		63.57%	 GMG  *	4.790	* 	8,206,390,606		0.2307		4.82%		0.1870	 *	3.90%	* 	20.76		2.64		-81.44%	 GPT  *	3.720	* 	6,483,410,720		0.3360		9.03%		0.1980	 *	5.32%	* 	11.07		3.73		0.27%	 IOF  *	2.920	* 	1,793,018,577		0.1600		5.48%		0.1775	 *	6.08%	* 	18.25		3.14		7.01%	 MGR  *	1.650	* 	6,043,479,351		0.0864		5.24%		0.0870	 *	5.27%	* 	19.10		1.64		-0.61%	 SCP  *	1.595	* 	1,024,655,338		0.1220		7.65%		0.1080	 *	6.77%	* 	13.07		1.56		-2.24%	 SGP  *	3.780	* 	8,715,737,824		0.0130		0.34%		0.2400	 *	6.35%	* 	290.77		3.49		-8.31%	 WDC  *	11.220	* 	24,618,233,409		0.7579		6.75%		0.4950	 *	4.41%	* 	14.80		6.90		-62.61%		WRT	 *	2.970	* 	9,070,873,599		0.2706		9.11%		0.1875	 *	6.31%	* 	10.98		3.42		13.16%	


*Comments:*:

*1.* The figures for *FKP* are speculative based on information provided in FKP's Annual Report converting the figures based on the number of shares on issue as at 30-6-12 to the number of shares on issue after the August 2012 issue. In addition the initial speculative figures have now been adjusted to reflect the consolidation of  7 shares to 1 share with the resultant number of shares taken from the release dated 13 December 2012. For year ending 30 June 2013, FKP will pay a dividend of $0.01c per share going ex-div on 24 June 2013 payable on 20 September 2013. For more information see the FKP site.

*2.* The figures for *SCP* (earnings and distributions) are guideline forecasts for the period 2013 - 2014 extracted from the proposal of 5 October 2012 and updated per their release of 13 June 2013. As forecast SCP distribution for the period ending 30 June 2013 is $0.056c per share, Ex-div date 24 June 2013 payable 28 August 2013.

*3.* Inclusion of any share details in the above table is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* The figures in the above table may contain errors and should not be relied upon for investment decisions. As always do your own research and good luck.


----------



## nulla nulla (18 August 2013)

Not a good week for the *A-REIT* sector. All week the sector struggled to get off the support line. At the end of the week it is starting to look like a pennant forming for a possible downward break out, not good. The forecasting is fairly neutral. The A-REIT's appear to be trying to put a cautious but positive spin on the results and future prospects but it would seem the analysts aren't buying it. Be prepared for continuing volitility.




The updated table for A-REIT's for weekending *16 August 2013 *follows:


*Code*  *	Closing Price	*  *Capital*  *Earnings $*  *ROE*  *Dist $*  *	Yield %	*  *P/E*  *NTA $*  *Discount to NTA*            ABP  *	2.170	* 	983,096,813		0.0683		3.15%		0.1650	 *	7.60%	* 	31.77		2.30		5.65%	 ALZ  *	3.410	* 	1,972,087,125		0.3120		9.15%		0.2150	 *	6.30%	* 	10.93		3.46		1.45%	 BWP  *	2.420	* 	1,301,364,569		0.1645		6.80%		0.1410	 *	5.83%	* 	14.71		1.87		-29.41%	 CDI  *	2.510	* 	537,393,543		0.1973		7.86%		0.1780	 *	7.09%	* 	12.72		2.74		8.39%	 CFX  *	2.060	* 	5,826,701,058		0.1180		5.73%		0.1340	 *	6.50%	* 	17.46		2.05		-0.49%	 CHC  *	3.600	* 	1,088,144,334		0.0903		2.51%		0.2020	 *	5.61%	* 	39.87		2.12		-69.81%	 CMW  *	0.990	* 	1,642,152,924		0.0526		5.31%		0.0724	 *	7.31%	* 	18.82		0.68		-45.59%	 CPA  *	1.185	* 	2,781,199,044		0.0746		6.30%		0.0655	 *	5.53%	* 	15.88		1.15		-3.04%	 CQR  *	3.790	* 	1,279,439,471		0.0688		1.82%		0.2680	 *	7.07%	* 	55.09		3.31		-14.50%	 DXS  *	1.025	* 	4,959,999,780		0.0680		6.63%		0.0557	 *	5.43%	* 	15.07		1.03		0.49%	 FDC  *	2.220	* 	3,169,364,274		-0.0824		-3.71%		0.1410	 *	6.35%	* 	-26.94		2.22		0.00%	 FKP  *	1.415	* 	455,033,868		0.2940		20.78%		0.0100	 *	0.71%	* 	4.81		3.98		64.45%	 GMG  *	4.740	* 	8,120,728,909		0.2307		4.87%		0.1870	 *	3.95%	* 	20.55		2.64		-79.55%	 GPT  *	3.650	* 	6,361,411,056		0.3360		9.21%		0.1980	 *	5.42%	* 	10.86		3.73		2.14%	 IOF  *	2.840	* 	1,743,894,781		0.1600		5.63%		0.1775	 *	6.25%	* 	17.75		3.14		9.55%	 MGR  *	1.655	* 	6,061,792,924		0.0864		5.22%		0.0870	 *	5.26%	* 	19.16		1.64		-0.91%	 SCP  *	1.580	* 	1,015,019,081		0.1220		7.72%		0.1080	 *	6.84%	* 	12.95		1.56		-1.28%	 SGP  *	3.550	* 	8,185,415,152		0.0130		0.37%		0.2400	 *	6.76%	* 	273.08		3.49		-1.72%	 WDC  *	11.040	* 	24,223,288,488		0.7579		6.87%		0.4950	 *	4.48%	* 	14.57		6.90		-60.00%		WRT	 *	2.930	* 	8,948,706,951		0.2706		9.24%		0.1875	 *	6.40%	* 	10.83		3.42		14.33%	

*Comments:*:

*1.* The figures for *FKP* are speculative based on information provided in FKP's Annual Report converting the figures based on the number of shares on issue as at 30-6-12 to the number of shares on issue after the August 2012 issue. In addition the initial speculative figures have now been adjusted to reflect the consolidation of  7 shares to 1 share with the resultant number of shares taken from the release dated 13 December 2012. For year ending 30 June 2013, FKP will pay a dividend of $0.01c per share going ex-div on 24 June 2013 payable on 20 September 2013. For more information see the FKP site.

*2.* The figures for *SCP* (earnings and distributions) are guideline forecasts for the period 2013 - 2014 extracted from the proposal of 5 October 2012 and updated per their release of 13 June 2013. As forecast SCP distribution for the period ending 30 June 2013 is $0.056c per share, Ex-div date 24 June 2013 payable 28 August 2013.

*3.* Inclusion of any share details in the above table is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* The figures in the above table may contain errors and should not be relied upon for investment decisions. As always do your own research and good luck.


----------



## nulla nulla (25 August 2013)

On Monday/Tuesday of last week, the *A-REIT *sector value broke through the recent support line. Fortunately support came in in the latter part of the week and the sector closed off the week holding above the support line. Whether it can remain there and/or improve is another story. The Americans keep vacilating about what they are going to do with quantative easing, the Aud$ keeps getting it head smacked down every time it pops up above US$0.91 and the recent A-REIT report releases haven't been all that inspiring.




The updated *A-REIT Table *for closing prices as at weekending *23 August 2013 *follows:


*Code*  *	Closing Price	*  *Capital*  *Earnings $*  *ROE*  *Dist $*  *	Yield %	*  *P/E*  *NTA $*  *Discount to NTA*            ABP  *	2.220	* 	1,005,748,813		0.0683		3.08%		0.1650	 *	7.43%	* 	32.50		2.30		3.48%	 ALZ  *	3.420	* 	1,977,870,371		0.3120		9.12%		0.2150	 *	6.29%	* 	10.96		3.46		1.16%	 BWP  *	2.360	* 	1,269,099,331		0.1645		6.97%		0.1410	 *	5.97%	* 	14.35		1.87		-26.20%	 CDI  *	2.520	* 	539,534,553		0.1973		7.83%		0.1780	 *	7.06%	* 	12.77		2.74		8.03%	 CFX  *	2.100	* 	5,939,840,884		0.1180		5.62%		0.1340	 *	6.38%	* 	17.80		2.05		-2.44%	 CHC  *	3.630	* 	1,097,212,203		0.0903		2.49%		0.2020	 *	5.56%	* 	40.20		2.12		-71.23%	 CMW  *	0.990	* 	1,642,152,924		0.0526		5.31%		0.0724	 *	7.31%	* 	18.82		0.68		-45.59%	 CPA  *	1.160	* 	2,722,523,959		0.0746		6.43%		0.0655	 *	5.65%	* 	15.55		1.15		-0.87%	 CQR  *	3.720	* 	1,255,808,663		0.0688		1.85%		0.2680	 *	7.20%	* 	54.07		3.31		-12.39%	 DXS  *	1.025	* 	4,959,999,780		0.0680		6.63%		0.0557	 *	5.43%	* 	15.07		1.03		0.49%	 FDC  *	2.290	* 	3,269,299,184		-0.0824		-3.60%		0.1410	 *	6.16%	* 	-27.79		2.22		-3.15%	 FKP  *	1.300	* 	418,052,317		0.2940		22.62%		0.0100	 *	0.77%	* 	4.42		3.98		67.34%	 GMG  *	4.620	* 	7,915,140,835		0.2307		4.99%		0.1870	 *	4.05%	* 	20.03		2.64		-75.00%	 GPT  *	3.590	* 	6,256,839,915		0.3360		9.36%		0.1980	 *	5.52%	* 	10.68		3.73		3.75%	 IOF  *	3.010	* 	1,848,282,849		0.1600		5.32%		0.1775	 *	5.90%	* 	18.81		3.14		4.14%	 MGR  *	1.665	* 	6,098,420,072		0.0864		5.19%		0.0870	 *	5.23%	* 	19.27		1.64		-1.52%	 SCP  *	1.590	* 	1,021,443,253		0.1220		7.67%		0.1080	 *	6.79%	* 	13.03		1.56		-1.92%	 SGP  *	3.670	* 	8,462,105,241		0.0130		0.35%		0.2400	 *	6.54%	* 	282.31		3.49		-5.16%	 WDC  *	10.830	* 	23,762,519,414		0.7579		7.00%		0.4950	 *	4.57%	* 	14.29		6.90		-56.96%		WRT	 *	2.930	* 	8,948,706,951		0.2706		9.24%		0.1875	 *	6.40%	* 	10.83		3.42		14.33%	

*Comments:*:

*1.* The figures for *FKP* are speculative based on information provided in FKP's Annual Report converting the figures based on the number of shares on issue as at 30-6-12 to the number of shares on issue after the August 2012 issue. In addition the initial speculative figures have now been adjusted to reflect the consolidation of  7 shares to 1 share with the resultant number of shares taken from the release dated 13 December 2012. For year ending 30 June 2013, FKP will pay a dividend of $0.01c per share going ex-div on 24 June 2013 payable on 20 September 2013. For more information see the FKP site.

*2.* The figures for *SCP* (earnings and distributions) are guideline forecasts for the period 2013 - 2014 extracted from the proposal of 5 October 2012 and updated per their release of 13 June 2013. As forecast SCP distribution for the period ending 30 June 2013 is $0.056c per share, Ex-div date 24 June 2013 payable 28 August 2013.

*3.* Inclusion of any share details in the above table is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* The figures in the above table may contain errors and should not be relied upon for investment decisions. As always do your own research and good luck.


----------



## nulla nulla (1 September 2013)

Another week of struggling for the A-REIT sector. The Aud$ was pushed down to the low US$0.89 area and large volumes of some of the A-REIT shares changed hands within a tight price range, some up some down. It is hard to work out whether the volumes are genuine holders (overseas investors) abandoning ship or whether the volume/price movement reflects the efforts of brokers trying to accumulate arround a target price (CPA?).




The updated A-REIT table for closing prices as at Friday 30 August 2013 follows:


*Code*  *	Closing Price	*  *Capital*  *Earnings $*  *ROE*  *Dist $*  *	Yield %	*  *P/E*  *NTA $*  *Discount to NTA*            ABP  *	2.250	* 	1,019,340,014		0.0683		3.04%		0.1650	 *	7.33%	* 	32.94		2.30		2.17%	 ALZ  *	3.380	* 	1,954,737,385		0.3120		9.23%		0.2150	 *	6.36%	* 	10.83		3.46		2.31%	 BWP  *	2.300	* 	1,236,834,094		0.1645		7.15%		0.1410	 *	6.13%	* 	13.98		1.87		-22.99%	 CDI  *	2.560	* 	548,098,593		0.1973		7.71%		0.1780	 *	6.95%	* 	12.98		2.74		6.57%	 CFX  *	2.020	* 	5,713,561,231		0.1180		5.84%		0.1340	 *	6.63%	* 	17.12		2.05		1.46%	 CHC  *	3.480	* 	1,051,872,856		0.0903		2.59%		0.2020	 *	5.80%	* 	38.54		2.12		-64.15%	 CMW  *	1.035	* 	1,716,796,238		0.0526		5.08%		0.0724	 *	7.00%	* 	19.68		0.68		-52.21%	 CPA  *	1.150	* 	2,699,053,925		0.0746		6.49%		0.0655	 *	5.70%	* 	15.42		1.15		0.00%	 CQR  *	3.680	* 	1,242,305,344		0.0688		1.87%		0.2680	 *	7.28%	* 	53.49		3.31		-11.18%	 DXS  *	1.030	* 	4,984,194,901		0.0680		6.60%		0.0557	 *	5.41%	* 	15.15		1.03		0.00%	 FDC  *	2.280	* 	3,255,022,768		-0.0824		-3.61%		0.1410	 *	6.18%	* 	-27.67		2.22		-2.70%	 FKP  *	1.250	* 	401,973,381		0.2940		23.52%		0.0100	 *	0.80%	* 	4.25		3.98		68.59%	 GMG  *	4.630	* 	7,932,273,175		0.2307		4.98%		0.1870	 *	4.04%	* 	20.07		2.64		-75.38%	 GPT  *	3.550	* 	6,187,125,821		0.3360		9.46%		0.1980	 *	5.58%	* 	10.57		3.73		4.83%	 IOF  *	2.940	* 	1,805,299,527		0.1600		5.44%		0.1775	 *	6.04%	* 	18.38		3.14		6.37%	 MGR  *	1.645	* 	6,025,165,777		0.0864		5.25%		0.0870	 *	5.29%	* 	19.04		1.64		-0.30%	 SCP  *	1.560	* 	1,002,170,738		0.1220		7.82%		0.1080	 *	6.92%	* 	12.79		1.56		0.00%	 SGP  *	3.730	* 	8,600,450,286		0.0130		0.35%		0.2400	 *	6.43%	* 	286.92		3.49		-6.88%	 WDC  *	11.080	* 	24,311,054,026		0.7579		6.84%		0.4950	 *	4.47%	* 	14.62		6.90		-60.58%		WRT	 *	2.920	* 	8,918,165,289		0.2706		9.27%		0.1875	 *	6.42%	* 	10.79		3.42		14.62%	

*Comments:*:

*1.* The figures for *FKP* are speculative based on information provided in FKP's Annual Report converting the figures based on the number of shares on issue as at 30-6-12 to the number of shares on issue after the August 2012 issue. In addition the initial speculative figures have now been adjusted to reflect the consolidation of  7 shares to 1 share with the resultant number of shares taken from the release dated 13 December 2012. For year ending 30 June 2013, FKP will pay a dividend of $0.01c per share going ex-div on 24 June 2013 payable on 20 September 2013. For more information see the FKP site.

*2.* The figures for *SCP* (earnings and distributions) are guideline forecasts for the period 2013 - 2014 extracted from the proposal of 5 October 2012 and updated per their release of 13 June 2013. As forecast SCP distribution for the period ending 30 June 2013 is $0.056c per share, Ex-div date 24 June 2013 payable 28 August 2013.

*3.* Inclusion of any share details in the above table is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* The figures in the above table, particularly those based on issued shares (some of which are subject to daily changes due to active share buy-back programs), may contain errors and should not be relied upon for investment decisions. As always do your own research and good luck .


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## nulla nulla (8 September 2013)

Early in the week it looked like the *A-REIT *sector was going to lift off the recent support level with good consolidations on Monday & Tuesday but then the dollar swung back down, the reports on retail were negative and the reports on office rentals were gloomy and trading Wednesday, Thursday & Friday saw the A-REIT sector push down through the support level. Maybe now the Federal Election is out of the way we could see some confidence come back into this sector?




The updated table for *A-REIT closing prices Friday 6 September 2013 *follows:


*Code*  *	Closing Price	*  *Capital*  *Earnings $*  *ROE*  *Dist $*  *	Yield %	*  *P/E*  *NTA $*  *Discount to NTA*            ABP  *	2.250	* 	1,019,340,014		0.0683		3.04%		0.1650	 *	7.33%	* 	32.94		2.30		2.17%	 ALZ  *	3.370	* 	1,948,954,138		0.3120		9.26%		0.2150	 *	6.38%	* 	10.80		3.46		2.60%	 BWP  *	2.300	* 	1,236,834,094		0.1645		7.15%		0.1410	 *	6.13%	* 	13.98		1.87		-22.99%	 CDI  *	2.530	* 	541,675,563		0.1973		7.80%		0.1780	 *	7.04%	* 	12.82		2.74		7.66%	 CFX  *	1.990	* 	5,628,706,361		0.1180		5.93%		0.1340	 *	6.73%	* 	16.86		2.05		2.93%	 CHC  *	3.620	* 	1,094,189,580		0.0903		2.49%		0.2020	 *	5.58%	* 	40.09		2.12		-70.75%	 CMW  *	1.040	* 	1,725,089,940		0.0526		5.06%		0.0724	 *	6.96%	* 	19.77		0.68		-52.94%	 CPA  *	1.140	* 	2,675,583,891		0.0746		6.54%		0.0655	 *	5.75%	* 	15.28		1.15		0.87%	 CQR  *	3.700	* 	1,249,057,004		0.0688		1.86%		0.2680	 *	7.24%	* 	53.78		3.31		-11.78%	 DXS  *	1.010	* 	4,887,414,418		0.0680		6.73%		0.0557	 *	5.51%	* 	14.85		1.03		1.94%	 FDC  *	2.260	* 	3,226,469,937		-0.0824		-3.65%		0.1410	 *	6.24%	* 	-27.43		2.22		-1.80%	 FKP  *	1.300	* 	418,052,317		0.2940		22.62%		0.0100	 *	0.77%	* 	4.42		3.98		67.34%	 GMG  *	4.740	* 	8,120,728,909		0.2307		4.87%		0.1870	 *	3.95%	* 	20.55		2.64		-79.55%	 GPT  *	3.620	* 	6,309,125,485		0.3360		9.28%		0.1980	 *	5.47%	* 	10.77		3.73		2.95%	 IOF  *	2.950	* 	1,811,440,001		0.1600		5.42%		0.1775	 *	6.02%	* 	18.44		3.14		6.05%	 MGR  *	1.650	* 	6,043,479,351		0.0864		5.24%		0.0870	 *	5.27%	* 	19.10		1.64		-0.61%	 SCP  *	1.570	* 	1,008,594,910		0.1220		7.77%		0.1080	 *	6.88%	* 	12.87		1.56		-0.64%	 SGP  *	3.830	* 	8,831,025,361		0.0130		0.34%		0.2400	 *	6.27%	* 	294.62		3.49		-9.74%	 WDC  *	10.510	* 	23,060,395,110		0.7579		7.21%		0.4950	 *	4.71%	* 	13.87		6.90		-52.32%		WRT	 *	2.880	* 	8,795,998,642		0.2706		9.40%		0.1875	 *	6.51%	* 	10.64		3.42		15.79%	

*Comments:*:

*1.* The figures for *FKP* are speculative based on information provided in FKP's Annual Report converting the figures based on the number of shares on issue as at 30-6-12 to the number of shares on issue after the August 2012 issue. In addition the initial speculative figures have now been adjusted to reflect the consolidation of  7 shares to 1 share with the resultant number of shares taken from the release dated 13 December 2012. For year ending 30 June 2013, FKP will pay a dividend of $0.01c per share going ex-div on 24 June 2013 payable on 20 September 2013. For more information see the FKP site.

*2.* The figures for *SCP* (earnings and distributions) are guideline forecasts for the period 2013 - 2014 extracted from the proposal of 5 October 2012 and updated per their release of 13 June 2013. As forecast SCP distribution for the period ending 30 June 2013 is $0.056c per share, Ex-div date 24 June 2013 payable 28 August 2013.

*3.* Inclusion of any share details in the above table is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* The figures in the above table, particularly those based on issued shares (some of which are subject to daily changes due to active share buy-back programs), may contain errors and should not be relied upon for investment decisions. As always do your own research and good luck  .


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## nulla nulla (15 September 2013)

The *A-REIT *sector volitility continued this week. At the end of the week, some were up, some were down and some looked unchanged. But during the week the oscilating share price movement provided several opportunities for the quick, the bold and the insane risk takers. The spreads were tighter and the risk/reward ratios would have deterered most people which is probably why the daily volumes traded within the sector (with a couple of notable exceptions) were low.




The A-REIT Table for closing prices as at 13 September 2013 follows:


*Code*  *	Closing Price	*  *Capital*  *Earnings $*  *ROE*  *Dist $*  *	Yield %	*  *P/E*  *NTA $*  *Discount to NTA*            ABP  *	2.230	* 	1,010,279,213		0.0683		3.06%		0.1650	 *	7.40%	* 	32.65		2.30		3.04%	 ALZ  *	3.430	* 	1,983,653,618		0.3120		9.10%		0.2150	 *	6.27%	* 	10.99		3.46		0.87%	 BWP  *	2.240	* 	1,204,568,857		0.1645		7.34%		0.1410	 *	6.29%	* 	13.62		1.87		-19.79%	 CDI  *	2.490	* 	533,111,522		0.1973		7.92%		0.1780	 *	7.15%	* 	12.62		2.74		9.12%	 CFX  *	1.980	* 	5,600,421,405		0.1180		5.96%		0.1340	 *	6.77%	* 	16.78		2.05		3.41%	 CHC  *	3.550	* 	1,073,031,218		0.0903		2.54%		0.2020	 *	5.69%	* 	39.31		2.12		-67.45%	 CMW  *	1.030	* 	1,708,502,537		0.0526		5.11%		0.0724	 *	7.03%	* 	19.58		0.68		-51.47%	 CPA  *	1.145	* 	2,687,318,908		0.0746		6.52%		0.0655	 *	5.72%	* 	15.35		1.15		0.43%	 CQR  *	3.590	* 	1,211,922,877		0.0688		1.92%		0.2680	 *	7.47%	* 	52.18		3.31		-8.46%	 DXS  *	1.015	* 	4,911,609,539		0.0680		6.70%		0.0557	 *	5.49%	* 	14.93		1.03		1.46%	 FDC  *	2.220	* 	3,169,364,274		-0.0824		-3.71%		0.1410	 *	6.35%	* 	-26.94		2.22		0.00%	 FKP  *	1.395	* 	448,602,293		0.2940		21.08%		0.0100	 *	0.72%	* 	4.74		3.98		64.95%	 GMG  *	4.770	* 	8,172,125,927		0.2307		4.84%		0.1870	 *	3.92%	* 	20.68		2.64		-80.68%	 GPT  *	3.560	* 	6,204,554,345		0.3360		9.44%		0.1980	 *	5.56%	* 	10.60		3.73		4.56%	 IOF  *	3.030	* 	1,860,563,798		0.1600		5.28%		0.1775	 *	5.86%	* 	18.94		3.14		3.50%	 MGR  *	1.690	* 	6,189,987,941		0.0864		5.11%		0.0870	 *	5.15%	* 	19.56		1.64		-3.05%	 SCP  *	1.515	* 	973,261,967		0.1220		8.05%		0.1080	 *	7.13%	* 	12.42		1.56		2.88%	 SGP  *	3.870	* 	8,923,255,391		0.0130		0.34%		0.2400	 *	6.20%	* 	297.69		3.49		-10.89%	 WDC  *	10.840	* 	23,784,460,798		0.7579		6.99%		0.4950	 *	4.57%	* 	14.30		6.90		-57.10%		WRT	 *	2.980	* 	9,101,415,261		0.2706		9.08%		0.1875	 *	6.29%	* 	11.01		3.42		12.87%	


It was an interesting week. I thought that the impact from the outcome of federal election was fairly minimal. It would seem that the change of Government was already factored in, in the lead up to the election. The easing of the threat of US intervention in Syria combined with improvement in China saw a net improvement in the Aud$ for the week. I have included a table of prices changes for the week. The most notable being the lifts in *FKP*, *WDC* and *WRT*:


Share	 *Code*  *	Closing Price	*  *	Closing Price	*  *	$ Change	*  *	% Change	*    *	6-Sep-13	*  *	13-Sep-13	*   	Abacus Property	 ABP  *	2.250	*  *	2.230	*  *	-0.020	*  *	-0.89%	* 	Australand Property	 ALZ  *	3.370	*  *	3.430	*  *	0.060	*  *	1.78%	* 	BWP Trust	 BWP  *	2.300	*  *	2.240	*  *	-0.060	*  *	-2.61%	* 	Challenger Div	 CDI  *	2.530	*  *	2.490	*  *	-0.040	*  *	-1.58%	* 	CFS Retail Trust	 CFX  *	1.990	*  *	1.980	*  *	-0.010	*  *	-0.50%	* 	Charter Hall	 CHC  *	3.620	*  *	3.550	*  *	-0.070	*  *	-1.93%	* 	Cromwell	 CMW  *	1.040	*  *	1.030	*  *	-0.010	*  *	-0.96%	* 	Commonwealth Office	 CPA  *	1.140	*  *	1.145	*  *	0.005	*  *	0.44%	* 	Charter Hall Retail	 CQR  *	3.700	*  *	3.590	*  *	-0.110	*  *	-2.97%	* 	Dexus	 DXS  *	1.010	*  *	1.015	*  *	0.005	*  *	0.50%	* 	Federation Centres	 FDC  *	2.260	*  *	2.220	*  *	-0.040	*  *	-1.77%	* 	FKP Stapled	 FKP  *	1.300	*  *	1.395	*  *	0.095	*  *	7.31%	* 	Goodman Group	 GMG  *	4.740	*  *	4.770	*  *	0.030	*  *	0.63%	* 	GPT Group	 GPT  *	3.620	*  *	3.560	*  *	-0.060	*  *	-1.66%	* 	Investra Office	 IOF  *	2.950	*  *	3.030	*  *	0.080	*  *	2.71%	* 	Mirvac Group	 MGR  *	1.650	*  *	1.690	*  *	0.040	*  *	2.42%	* 	SCA Property Group	 SCP  *	1.570	*  *	1.515	*  *	-0.055	*  *	-3.50%	* 	Stockland Property	 SGP  *	3.830	*  *	3.870	*  *	0.040	*  *	1.04%	* 	Westfield	 WDC  *	10.510	*  *	10.840	*  *	0.330	*  *	3.14%	* 	Westfield Retail		WRT	 *	2.880	*  *	2.980	*  *	0.100	*  *	3.47%	* 

*Comments:*:

*1.* The figures for *FKP* are speculative based on information provided in FKP's Annual Report converting the figures based on the number of shares on issue as at 30-6-12 to the number of shares on issue after the August 2012 issue. In addition the initial speculative figures have now been adjusted to reflect the consolidation of  7 shares to 1 share with the resultant number of shares taken from the release dated 13 December 2012. For year ending 30 June 2013, FKP will pay a dividend of $0.01c per share going ex-div on 24 June 2013 payable on 20 September 2013. For more information see the FKP site.

*2.* The figures for *SCP* (earnings and distributions) are guideline forecasts for the period 2013 - 2014 extracted from the proposal of 5 October 2012 and updated per their release of 13 June 2013. As forecast SCP distribution for the period ending 30 June 2013 is $0.056c per share, Ex-div date 24 June 2013 payable 28 August 2013.

*3.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* The figures in the above tables, particularly those based on issued shares (some of which are subject to daily changes due to active share buy-back programs), may contain errors and should not be relied upon for investment decisions. As always do your own research and good luck .


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## nulla nulla (15 September 2013)

The table for the weekly change reformatted and tidied up:


*	Share	*  *Code*  *	Closing_Price	*  *	Closing_Price	*  *	$_Change	*  *	%_Change	*    *	6-Sep-13	*  *	13-Sep-13	*    *	Abacus Property	*  ABP  *	2.250	*  *	2.230	*  *	-0.020	*  *	-0.89%	*  *	Australand Property	*  ALZ  *	3.370	*  *	3.430	*  *	0.060	*  *	1.78%	*  *	BWP Trust	*  BWP  *	2.300	*  *	2.240	*  *	-0.060	*  *	-2.61%	*  *	Challenger Div	*  CDI  *	2.530	*  *	2.490	*  *	-0.040	*  *	-1.58%	*  *	CFS Retail Trust	*  CFX  *	1.990	*  *	1.980	*  *	-0.010	*  *	-0.50%	*  *	Charter Hall	*  CHC  *	3.620	*  *	3.550	*  *	-0.070	*  *	-1.93%	*  *	Cromwell	*  CMW  *	1.040	*  *	1.030	*  *	-0.010	*  *	-0.96%	*  *	Commonwealth_Office	*  CPA  *	1.140	*  *	1.145	*  *	0.005	*  *	0.44%	*  *	Charter Hall Retail	*  CQR  *	3.700	*  *	3.590	*  *	-0.110	*  *	-2.97%	*  *	Dexus	*  DXS  *	1.010	*  *	1.015	*  *	0.005	*  *	0.50%	*  *	Federation Centres	*  FDC  *	2.260	*  *	2.220	*  *	-0.040	*  *	-1.77%	*  *	FKP Stapled	*  FKP  *	1.300	*  *	1.395	*  * 0.095 *  * 7.31% *  *	Goodman Group	*  GMG  *	4.740	*  *	4.770	*  *	0.030	*  *	0.63%	*  *	GPT Group	*  GPT  *	3.620	*  *	3.560	*  *	-0.060	*  *	-1.66%	*  *	Investra Office	*  IOF  *	2.950	*  *	3.030	*  *	0.080	*  *	2.71%	*  *	Mirvac Group	*  MGR  *	1.650	*  *	1.690	*  *	0.040	*  *	2.42%	*  *	SCA Property Group	*  SCP  *	1.570	*  *	1.515	*  *	-0.055	*  *	-3.50%	*  *	Stockland Property	*  SGP  *	3.830	*  *	3.870	*  *	0.040	*  *	1.04%	*  *	Westfield	*  WDC  *	10.510	*  *	10.840	*  * 0.330 *  * 3.14% *  *	Westfield Retail	* 	WRT	 *	2.880	*  *	2.980	*  * 0.100 *  * 3.47% *


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## nulla nulla (22 September 2013)

The *A-REIT *sector lifted slightly this week on the news that the US quantative easing would continue and the subsequent improvement in the Aud$ v's the US$. However the Aud$ dropped on Friday night as did the Dow Jones on the revelation that the decision to continue quantative easing or slightly reduce it in October was a close one. Don't be surprised if our market and the A-REIT sector in particular also ease again on Monday.




The updated *A-REIT Table *for closing prices Friday *20 September 2*013 follows:


*Code*  *	Closing Price	*  *Capital*  *Earnings $*  *ROE*  *Dist $*  *	Yield %	*  *P/E*  *NTA $*  *Discount to NTA*            ABP  *	2.270	* 	1,028,400,814		0.0683		3.01%		0.1650	 *	7.27%	* 	33.24		2.30		1.30%	 ALZ  *	3.550	* 	2,053,052,579		0.3120		8.79%		0.2150	 *	6.06%	* 	11.38		3.46		-2.60%	 BWP  *	2.310	* 	1,242,211,634		0.1645		7.12%		0.1410	 *	6.10%	* 	14.04		1.87		-23.53%	 CDI  *	2.490	* 	533,111,522		0.1973		7.92%		0.1780	 *	7.15%	* 	12.62		2.74		9.12%	 CFX  *	2.050	* 	5,798,416,101		0.1180		5.76%		0.1340	 *	6.54%	* 	17.37		2.05		0.00%	 CHC  *	3.800	* 	1,148,596,797		0.0903		2.38%		0.2020	 *	5.32%	* 	42.08		2.12		-79.25%	 CMW  *	1.035	* 	1,716,796,238		0.0526		5.08%		0.0724	 *	7.00%	* 	19.68		0.68		-52.21%	 CPA  *	1.135	* 	2,663,848,874		0.0746		6.57%		0.0655	 *	5.77%	* 	15.21		1.15		1.30%	 CQR  *	3.730	* 	1,259,184,493		0.0688		1.84%		0.2680	 *	7.18%	* 	54.22		3.31		-12.69%	 DXS  *	1.010	* 	4,887,414,418		0.0680		6.73%		0.0557	 *	5.51%	* 	14.85		1.03		1.94%	 FDC  *	2.220	* 	3,169,364,274		-0.0824		-3.71%		0.1410	 *	6.35%	* 	-26.94		2.22		0.00%	 FKP  *	1.370	* 	440,562,826		0.2940		21.46%		0.0100	 *	0.73%	* 	4.66		3.98		65.58%	 GMG  *	4.900	* 	8,394,846,340		0.2307		4.71%		0.1870	 *	3.82%	* 	21.24		2.64		-85.61%	 GPT  *	3.560	* 	6,204,554,345		0.3360		9.44%		0.1980	 *	5.56%	* 	10.60		3.73		4.56%	 IOF  *	3.080	* 	1,891,266,171		0.1600		5.19%		0.1775	 *	5.76%	* 	19.25		3.14		1.91%	 MGR  *	1.765	* 	6,464,691,548		0.0864		4.90%		0.0870	 *	4.93%	* 	20.43		1.64		-7.62%	 SCP  *	1.505	* 	966,837,796		0.1220		8.11%		0.1080	 *	7.18%	* 	12.34		1.56		3.53%	 SGP  *	3.880	* 	8,946,312,898		0.0130		0.34%		0.2400	 *	6.19%	* 	298.46		3.49		-11.17%	 WDC  *	11.000	* 	24,135,522,950		0.7579		6.89%		0.4950	 *	4.50%	* 	14.51		6.90		-59.42%		WRT	 *	2.990	* 	9,131,956,923		0.2706		9.05%		0.1875	 *	6.27%	* 	11.05		3.42		12.57%	

The table showning the individual share price and percentage changes for the week follows (Charter Hall & Mirvac were well supported):


*	Share	*  *Code*  *	Closing_Price	*  *	Closing_Price	*  *	$_Change	*  *	%_Change	*    *	13-Sep-13	*  *	20-Sep-13	*    *	Abacus Property	*  ABP  *	2.230	*  *	2.270	*  *	0.040	*  *	1.79%	*  *	Australand Property	*  ALZ  *	3.430	*  *	3.550	*  *	0.120	*  *	3.50%	*  *	BWP Trust	*  BWP  *	2.240	*  *	2.310	*  *	0.070	*  *	3.12%	*  *	Challenger Div	*  CDI  *	2.490	*  *	2.490	*  *	0.000	*  *	0.00%	*  *	CFS Retail Trust	*  CFX  *	1.980	*  *	2.050	*  *	0.070	*  *	3.54%	*  *	Charter Hall	*  CHC  *	3.550	*  *	3.800	*  *	0.250	*  * 7.04% *  *	Cromwell	*  CMW  *	1.030	*  *	1.035	*  *	0.005	*  *	0.49%	*  *	Commonwealth_Office	*  CPA  *	1.145	*  *	1.135	*  *	-0.010	*  *	-0.87%	*  *	Charter Hall Retail	*  CQR  *	3.590	*  *	3.730	*  *	0.140	*  *	3.90%	*  *	Dexus	*  DXS  *	1.015	*  *	1.010	*  *	-0.005	*  *	-0.49%	*  *	Federation Centres	*  FDC  *	2.220	*  *	2.220	*  *	0.000	*  *	0.00%	*  *	FKP Stapled	*  FKP  *	1.395	*  *	1.370	*  *	-0.025	*  *	-1.79%	*  *	Goodman Group	*  GMG  *	4.770	*  *	4.900	*  *	0.130	*  *	2.73%	*  *	GPT Group	*  GPT  *	3.560	*  *	3.560	*  *	0.000	*  *	0.00%	*  *	Investra Office	*  IOF  *	3.030	*  *	3.080	*  *	0.050	*  *	1.65%	*  *	Mirvac Group	*  MGR  *	1.690	*  *	1.765	*  *	0.075	*  * 4.44% *  *	SCA Property Group	*  SCP  *	1.515	*  *	1.505	*  *	-0.010	*  *	-0.66%	*  *	Stockland Property	*  SGP  *	3.870	*  *	3.880	*  *	0.010	*  *	0.26%	*  *	Westfield	*  WDC  *	10.840	*  *	11.000	*  *	0.160	*  *	1.48%	*  *	Westfield Retail	* 	WRT	 *	2.980	*  *	2.990	*  *	0.010	*  *	0.34%	* 


*Comments:*:

*1.* The figures for *FKP* are speculative based on information provided in FKP's Annual Report converting the figures based on the number of shares on issue as at 30-6-12 to the number of shares on issue after the August 2012 issue. In addition the initial speculative figures have now been adjusted to reflect the consolidation of  7 shares to 1 share with the resultant number of shares taken from the release dated 13 December 2012. For year ending 30 June 2013, FKP will pay a dividend of $0.01c per share going ex-div on 24 June 2013 payable on 20 September 2013. For more information see the FKP site.

*2.* The figures for *SCP* (earnings and distributions) are guideline forecasts for the period 2013 - 2014 extracted from the proposal of 5 October 2012 and updated per their release of 13 June 2013. As forecast SCP distribution for the period ending 30 June 2013 is $0.056c per share, Ex-div date 24 June 2013 payable 28 August 2013.

*3.* Inclusion of any share details in the above table is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* The figures in the above table, particularly those based on issued shares (some of which are subject to daily changes due to active share buy-back programs), may contain errors and should not be relied upon for investment decisions. As always do your own research and good luck  .


----------



## nulla nulla (28 September 2013)

As expected the *A-REIT *sector retraced slightly this week following the release of conflicting perspectives in respect of the US policy makers and the future of quantative easing. The Aud$ also came back a little but appears to be holding in the US$0.93 - US$0.94 area (for now). 




The updated *A-REIT Table *for closing prices on Friday *27 September 2013 *follows:


*Code*  *	Closing Price	*  *Capital*  *Earnings $*  *ROE*  *Dist $*  *	Yield %	*  *P/E*  *NTA $*  *Discount to NTA*            ABP  *	2.300	* 	1,041,992,014		0.0683		2.97%		0.1650	 *	7.17%	* 	33.67		2.30		0.00%	 ALZ  *	3.660	* 	2,116,668,292		0.3120		8.52%		0.2150	 *	5.87%	* 	11.73		3.46		-5.78%	 BWP  *	2.280	* 	1,226,079,015		0.1645		7.21%		0.1410	 *	6.18%	* 	13.86		1.87		-21.93%	 CDI  *	2.500	* 	535,252,533		0.1973		7.89%		0.1780	 *	7.12%	* 	12.67		2.74		8.76%	 CFX  *	2.010	* 	5,685,276,275		0.1180		5.87%		0.1340	 *	6.67%	* 	17.03		2.05		1.95%	 CHC  *	3.770	* 	1,139,528,928		0.0903		2.40%		0.2020	 *	5.36%	* 	41.75		2.12		-77.83%	 CMW  *	0.990	* 	1,642,152,924		0.0526		5.31%		0.0724	 *	7.31%	* 	18.82		0.68		-45.59%	 CPA  *	1.155	* 	2,710,788,942		0.0746		6.46%		0.0655	 *	5.67%	* 	15.48		1.15		-0.43%	 CQR  *	3.780	* 	1,276,063,642		0.0688		1.82%		0.2680	 *	7.09%	* 	54.94		3.31		-14.20%	 DXS  *	1.010	* 	4,887,414,418		0.0680		6.73%		0.0557	 *	5.51%	* 	14.85		1.03		1.94%	 FDC  *	2.270	* 	3,240,746,353		-0.0824		-3.63%		0.1410	 *	6.21%	* 	-27.55		2.22		-2.25%	 FKP  *	1.360	* 	437,347,039		0.2940		21.62%		0.0100	 *	0.74%	* 	4.63		3.98		65.83%	 GMG  *	4.930	* 	8,446,243,359		0.2307		4.68%		0.1870	 *	3.79%	* 	21.37		2.64		-86.74%	 GPT  *	3.520	* 	6,134,840,251		0.3360		9.55%		0.1980	 *	5.63%	* 	10.48		3.73		5.63%	 IOF  *	3.010	* 	1,848,282,849		0.1600		5.32%		0.1775	 *	5.90%	* 	18.81		3.14		4.14%	 MGR  *	1.770	* 	6,483,005,122		0.0864		4.88%		0.0870	 *	4.92%	* 	20.49		1.64		-7.93%	 SCP  *	1.535	* 	986,110,310		0.1220		7.95%		0.1080	 *	7.04%	* 	12.58		1.56		1.60%	 SGP  *	3.900	* 	8,992,427,913		0.0130		0.33%		0.2400	 *	6.15%	* 	300.00		3.49		-11.75%	 WDC  *	10.930	* 	23,981,933,259		0.7579		6.93%		0.4950	 *	4.53%	* 	14.42		6.90		-58.41%		WRT	 *	3.010	* 	9,193,040,247		0.2706		8.99%		0.1875	 *	6.23%	* 	11.12		3.42		11.99%	


A comparison table of this weeks closing prices versus last weeks closing prices follows. The best performers for the week were Australand and Federation Centres. The worst performers for the week were Cromwell and Investra Office:


*	Share	*  *Code*  *	Closing_Price	*  *	Closing_Price	*  *	$_Change	*  *	%_Change	*    *	20-Sep-13	*  *	27-Sep-13	*    *	Abacus Property	*  ABP  *	2.270	*  *	2.300	*  *	0.030	*  *	1.32%	*  *	Australand Property	*  ALZ  *	3.550	*  *	3.660	*  *	0.110	*  * 3.10% *  *	BWP Trust	*  BWP  *	2.310	*  *	2.280	*  *	-0.030	*  *	-1.30%	*  *	Challenger Div	*  CDI  *	2.490	*  *	2.500	*  *	0.010	*  *	0.40%	*  *	CFS Retail Trust	*  CFX  *	2.050	*  *	2.010	*  *	-0.040	*  *	-1.95%	*  *	Charter Hall	*  CHC  *	3.800	*  *	3.770	*  *	-0.030	*  *	-0.79%	*  *	Cromwell	*  CMW  *	1.035	*  *	0.990	*  *	-0.045	*  * -4.35% *  *	Commonwealth_Office	*  CPA  *	1.135	*  *	1.155	*  *	0.020	*  *	1.76%	*  *	Charter Hall Retail	*  CQR  *	3.730	*  *	3.780	*  *	0.050	*  *	1.34%	*  *	Dexus	*  DXS  *	1.010	*  *	1.010	*  *	0.000	*  *	0.00%	*  *	Federation Centres	*  FDC  *	2.220	*  *	2.270	*  *	0.050	*  * 2.25% *  *	FKP Stapled	*  FKP  *	1.370	*  *	1.360	*  *	-0.010	*  *	-0.73%	*  *	Goodman Group	*  GMG  *	4.900	*  *	4.930	*  *	0.030	*  *	0.61%	*  *	GPT Group	*  GPT  *	3.560	*  *	3.520	*  *	-0.040	*  *	-1.12%	*  *	Investra Office	*  IOF  *	3.080	*  *	3.010	*  *	-0.070	*  * -2.27% *  *	Mirvac Group	*  MGR  *	1.765	*  *	1.770	*  *	0.005	*  *	0.28%	*  *	SCA Property Group	*  SCP  *	1.505	*  *	1.535	*  *	0.030	*  *	1.99%	*  *	Stockland Property	*  SGP  *	3.880	*  *	3.900	*  *	0.020	*  *	0.52%	*  *	Westfield	*  WDC  *	11.000	*  *	10.930	*  *	-0.070	*  *	-0.64%	*  *	Westfield Retail	* 	WRT	 *	2.990	*  *	3.010	*  *	0.020	*  *	0.67%	* 

*Comments:*:

*1.* The figures for *FKP* are based on the information provided in FKP's Annual Report converting the figures based on the number of shares on issue as at 30-6-12 to the number of shares on issue after the August 2012 issue. Further figures have been adjusted to reflect the consolidation of  7 shares to 1 share with the resultant number of shares taken from the release dated 13 December 2012. For year ending 30 June 2013, FKP will paid a dividend of $0.01c per share going ex-div on 24 June 2013 payable on 20 September 2013. For more information see the FKP site.

*2.* The figures for *SCP* (earnings and distributions) are guideline forecasts for the period 2013 - 2014 extracted from the proposal of 5 October 2012 and updated per their release of 13 June 2013. As forecast SCP distribution for the period ending 30 June 2013 is $0.056c per share, Ex-div date 24 June 2013 paid 28 August 2013.

*3.* Inclusion of any share details in the above table is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* The figures in the above table, particularly those based on issued shares (some of which are subject to daily changes due to active share buy-back programs), may contain errors and should not be relied upon for investment decisions. As always do your own research and good luck  .


----------



## nulla nulla (5 October 2013)

As if it wasn't bad enough with the uncertainty over the continuation of quantative easing in the U.S.A impaction on the Aud$ v's the US$, the American politicians's have to go down to the wire and shut down governement while they debate the continuation of funding for Obama's Health Care plan. The impact on the *A-REIT *was subtle with some share prices going up, some going down and for the greater part most share moving within a +/- 2% band width for the week.




The updated *A-REIT Table *for share prices as at close of business for Friday *4 October 2013 *follows:


*Code*  *	Closing Price	*  *Capital*  *Earnings $*  *ROE*  *Dist $*  *	Yield %	*  *P/E*  *NTA $*  *Discount to NTA*            ABP  *	2.270	* 	1,028,400,814		0.0683		3.01%		0.1650	 *	7.27%	* 	33.24		2.30		1.30%	 ALZ  *	3.700	* 	2,139,801,279		0.3120		8.43%		0.2150	 *	5.81%	* 	11.86		3.46		-6.94%	 BWP  *	2.300	* 	1,236,834,094		0.1645		7.15%		0.1410	 *	6.13%	* 	13.98		1.87		-22.99%	 CDI  *	2.490	* 	533,111,522		0.1973		7.92%		0.1780	 *	7.15%	* 	12.62		2.74		9.12%	 CFX  *	1.985	* 	5,614,563,883		0.1180		5.94%		0.1340	 *	6.75%	* 	16.82		2.05		3.17%	 CHC  *	3.700	* 	1,118,370,566		0.0903		2.44%		0.2020	 *	5.46%	* 	40.97		2.12		-74.53%	 CMW  *	0.975	* 	1,617,271,819		0.0526		5.39%		0.0724	 *	7.43%	* 	18.54		0.68		-43.38%	 CPA  *	1.155	* 	2,710,788,942		0.0746		6.46%		0.0655	 *	5.67%	* 	15.48		1.15		-0.43%	 CQR  *	3.850	* 	1,299,694,450		0.0688		1.79%		0.2680	 *	6.96%	* 	55.96		3.31		-16.31%	 DXS  *	1.045	* 	5,056,780,264		0.0680		6.51%		0.0557	 *	5.33%	* 	15.37		1.03		-1.46%	 FDC  *	2.310	* 	3,297,852,015		-0.0824		-3.57%		0.1410	 *	6.10%	* 	-28.03		2.22		-4.05%	 FKP  *	1.465	* 	471,112,803		0.2940		20.07%		0.0100	 *	0.68%	* 	4.98		3.98		63.19%	 GMG  *	5.010	* 	8,583,302,074		0.2307		4.60%		0.1870	 *	3.73%	* 	21.72		2.64		-89.77%	 GPT  *	3.570	* 	6,050,751,474		0.3360		9.41%		0.1980	 *	5.55%	* 	10.63		3.76		5.05%	 IOF  *	2.960	* 	1,817,580,476		0.1600		5.41%		0.1775	 *	6.00%	* 	18.50		3.14		5.73%	 MGR  *	1.735	* 	6,354,810,105		0.0864		4.98%		0.0870	 *	5.01%	* 	20.08		1.64		-5.79%	 SCP  *	1.570	* 	1,008,594,910		0.1220		7.77%		0.1080	 *	6.88%	* 	12.87		1.56		-0.64%	 SGP  *	3.870	* 	8,923,255,391		0.0130		0.34%		0.2400	 *	6.20%	* 	297.69		3.49		-10.89%	 WDC  *	11.100	* 	24,354,936,795		0.7579		6.83%		0.4950	 *	4.46%	* 	14.65		6.90		-60.87%		WRT	 *	2.990	* 	9,131,956,923		0.2706		9.05%		0.1875	 *	6.27%	* 	11.05		3.42		12.57%	

A Comparison table for this weeks closing prices versus last weeks closing prices follows. The better performers for the week were FKP & DXS:


*	Share	*  *Code*  *	Closing_Price	*  *	Closing_Price	*  *	$_Change	*  *	%_Change	*    *	27-Sep-13	*  *	4-Oct-13	*    *	Abacus Property	*  ABP  *	2.300	*  *	2.270	*  *	-0.030	*  *	-1.30%	*  *	Australand Property	*  ALZ  *	3.660	*  *	3.700	*  *	0.040	*  *	1.09%	*  *	BWP Trust	*  BWP  *	2.280	*  *	2.300	*  *	0.020	*  *	0.88%	*  *	Challenger Div	*  CDI  *	2.500	*  *	2.490	*  *	-0.010	*  *	-0.40%	*  *	CFS Retail Trust	*  CFX  *	2.010	*  *	1.985	*  *	-0.025	*  *	-1.24%	*  *	Charter Hall	*  CHC  *	3.770	*  *	3.700	*  *	-0.070	*  *	-1.86%	*  *	Cromwell	*  CMW  *	0.990	*  *	0.975	*  *	-0.015	*  *	-1.52%	*  *	Commonwealth_Office	*  CPA  *	1.155	*  *	1.155	*  *	0.000	*  *	0.00%	*  *	Charter Hall Retail	*  CQR  *	3.780	*  *	3.850	*  *	0.070	*  *	1.85%	*  *	Dexus	*  DXS  *	1.010	*  *	1.045	*  *	0.035	*  * 3.47% *  *	Federation Centres	*  FDC  *	2.270	*  *	2.310	*  *	0.040	*  *	1.76%	*  *	FKP Stapled	*  FKP  *	1.360	*  *	1.465	*  *	0.105	*  * 7.72% *  *	Goodman Group	*  GMG  *	4.930	*  *	5.010	*  *	0.080	*  *	1.62%	*  *	GPT Group	*  GPT  *	3.520	*  *	3.570	*  *	0.050	*  *	1.42%	*  *	Investra Office	*  IOF  *	3.010	*  *	2.960	*  *	-0.050	*  *	-1.66%	*  *	Mirvac Group	*  MGR  *	1.770	*  *	1.735	*  *	-0.035	*  *	-1.98%	*  *	SCA Property Group	*  SCP  *	1.535	*  *	1.570	*  *	0.035	*  *	2.28%	*  *	Stockland Property	*  SGP  *	3.900	*  *	3.870	*  *	-0.030	*  *	-0.77%	*  *	Westfield	*  WDC  *	10.930	*  *	11.100	*  *	0.170	*  *	1.56%	*  *	Westfield Retail	* 	WRT	 *	3.010	*  *	2.990	*  *	-0.020	*  *	-0.66%	* 

*Comments:*

*1.* The figures for *FKP* are based on information provided in FKP's Annual Report converting the figures based on the number of shares on issue as at 30-6-12 to the number of shares on issue after the August 2012 issue. Further the initial figures have been adjusted to reflect the consolidation of  7 shares to 1 share with the resultant number of shares taken from the release dated 13 December 2012. For year ending 30 June 2013, FKP will pay a dividend of $0.01c per share going ex-div on 24 June 2013 payable on 20 September 2013. For more information see the FKP site.

*2.* The figures for *SCP* (earnings and distributions) are guideline forecasts for the period 2013 - 2014 extracted from the proposal of 5 October 2012 and updated per their release of 13 June 2013. As forecast SCP distribution for the period ending 30 June 2013 was $0.056c per share, Ex-div date 24 June 2013 paid 28 August 2013.

*3.* Inclusion of any share details in the above table is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* The figures in the above table, particularly those based on issued shares (some of which are subject to daily changes due to active share buy-back programs), may contain errors and should not be relied upon for investment decisions. As always do your own research and good luck  .


----------



## nulla nulla (12 October 2013)

Things were starting to look grim this week as the stand off between the Democrats and the Republicans descended to slagging of at each other in the media in the early part off the week, then on thursday the word got out that the opposing parties had realised that they were running out of time and they started talking to each other. The move toward negotiating a settlement was enough to reinvigorate the markets and even the *A-REIT *sector got caught up in the euphoria. Mind you it didn't set any records but at least arrested and reversed the dip from early in the week.




The updated *A-REIT table* for closing prices as at *friday 11 October 2013 *follows:


*Code*  *	Closing Price	*  *Capital*  *Earnings $*  *ROE*  *Dist $*  *	Yield %	*  *P/E*  *NTA $*  *Discount to NTA*            ABP  *	2.260	* 	1,023,870,414		0.0683		3.02%		0.1650	 *	7.30%	* 	33.09		2.30		1.74%	 ALZ  *	3.610	* 	2,087,752,059		0.3120		8.64%		0.2150	 *	5.96%	* 	11.57		3.46		-4.34%	 BWP  *	2.300	* 	1,236,834,094		0.1645		7.15%		0.1410	 *	6.13%	* 	13.98		1.87		-22.99%	 CDI  *	2.450	* 	524,547,482		0.1973		8.05%		0.1780	 *	7.27%	* 	12.42		2.74		10.58%	 CFX  *	2.020	* 	5,713,561,231		0.1180		5.84%		0.1340	 *	6.63%	* 	17.12		2.05		1.46%	 CHC  *	3.720	* 	1,124,415,812		0.0903		2.43%		0.2020	 *	5.43%	* 	41.20		2.12		-75.47%	 CQR  *	3.840	* 	1,296,318,620		0.0688		1.79%		0.2680	 *	6.98%	* 	55.81		3.31		-16.01%	 CPA  *	1.190	* 	2,792,934,061		0.0746		6.27%		0.0655	 *	5.50%	* 	15.95		1.15		-3.48%	 CMW  *	0.960	* 	1,592,390,714		0.0526		5.48%		0.0724	 *	7.54%	* 	18.25		0.68		-41.18%	 DXS  *	1.060	* 	5,129,365,627		0.0680		6.42%		0.0557	 *	5.25%	* 	15.59		1.03		-2.91%	 FDC  *	2.310	* 	3,297,852,015		-0.0824		-3.57%		0.1410	 *	6.10%	* 	-28.03		2.22		-4.05%	 FKP  *	1.645	* 	528,996,970		0.2940		17.87%		0.0100	 *	0.61%	* 	5.60		3.98		58.67%	 GMG  *	4.950	* 	8,480,508,038		0.2307		4.66%		0.1870	 *	3.78%	* 	21.46		2.64		-87.50%	 GPT  *	3.640	* 	6,169,393,660		0.3360		9.23%		0.1980	 *	5.44%	* 	10.83		3.76		3.19%	 IOF  *	3.010	* 	1,848,282,849		0.1600		5.32%		0.1775	 *	5.90%	* 	18.81		3.14		4.14%	 MGR  *	1.740	* 	6,373,123,679		0.0864		4.97%		0.0870	 *	5.00%	* 	20.14		1.64		-6.10%	 SCP  *	1.570	* 	1,008,594,910		0.1220		7.77%		0.1080	 *	6.88%	* 	12.87		1.56		-0.64%	 SGP  *	3.910	* 	9,015,485,421		0.0130		0.33%		0.2400	 *	6.14%	* 	300.77		3.49		-12.03%	 WDC  *	11.050	* 	24,245,229,873		0.7579		6.86%		0.4950	 *	4.48%	* 	14.58		6.90		-60.14%		WRT	 *	3.020	* 	9,223,581,909		0.2706		8.96%		0.1875	 *	6.21%	* 	11.16		3.42		11.70%	

The following table shows closing share price changes from the previous weeks close. The biggest movers this week were FKP and CPA. Stockland announced that they had sold down their holding in FKP which seemed to please the market as the share price for FKP jumped 12%+ for the week. Dexus made an anouncement to the market, confirming they were interested in acquiring CPA jointly with the Canadian Pension Plan. The market pushed the CPA price above the offer price, possibly expecting another buyer to join the fray?


*	Share	*  *Code*  *	Closing_Price	*  *	Closing_Price	*  *	$_Change	*  *	%_Change	*    *	4-Oct-13	*  *	11-Oct-13	*    *	Abacus Property	*  ABP  *	2.270	*  *	2.260	*  *	-0.010	*  *	-0.44%	*  *	Australand Property	*  ALZ  *	3.700	*  *	3.610	*  *	-0.090	*  *	-2.43%	*  *	BWP Trust	*  BWP  *	2.300	*  *	2.300	*  *	0.000	*  *	0.00%	*  *	Challenger Div	*  CDI  *	2.490	*  *	2.450	*  *	-0.040	*  *	-1.61%	*  *	CFS Retail Trust	*  CFX  *	1.985	*  *	2.020	*  *	0.035	*  *	1.76%	*  *	Charter Hall	*  CHC  *	3.700	*  *	3.720	*  *	0.020	*  *	0.54%	*  *	Charter Hall Retail	*  CQR  *	3.850	*  *	3.840	*  *	-0.010	*  *	-0.26%	*  *	Commonwealth_Office	*  CPA  *	1.155	*  *	1.190	*  *	0.035	*  * 3.03% *  *	Cromwell	*  CMW  *	0.975	*  *	0.960	*  *	-0.015	*  *	-1.54%	*  *	Dexus	*  DXS  *	1.045	*  *	1.060	*  *	0.015	*  *	1.44%	*  *	Federation Centres	*  FDC  *	2.310	*  *	2.310	*  *	0.000	*  *	0.00%	*  *	FKP Stapled	*  FKP  *	1.465	*  *	1.645	*  *	0.180	*  * 12.29% *  *	Goodman Group	*  GMG  *	5.010	*  *	4.950	*  *	-0.060	*  *	-1.20%	*  *	GPT Group	*  GPT  *	3.570	*  *	3.640	*  *	0.070	*  *	1.96%	*  *	Investa Office	*  IOF  *	2.960	*  *	3.010	*  *	0.050	*  *	1.69%	*  *	Mirvac Group	*  MGR  *	1.735	*  *	1.740	*  *	0.005	*  *	0.29%	*  *	SCA Property Group	*  SCP  *	1.570	*  *	1.570	*  *	0.000	*  *	0.00%	*  *	Stockland Property	*  SGP  *	3.870	*  *	3.910	*  *	0.040	*  *	1.03%	*  *	Westfield	*  WDC  *	11.100	*  *	11.050	*  *	-0.050	*  *	-0.45%	*  *	Westfield Retail	* 	WRT	 *	2.990	*  *	3.020	*  *	0.030	*  *	1.00%	* 

*Comments:*

*1.* The figures for *FKP* are based on information provided in FKP's Annual Report converting the figures based on the number of shares on issue as at 30-6-12 to the number of shares on issue after the August 2012 issue. Further the initial figures have been adjusted to reflect the consolidation of 7 shares to 1 share with the resultant number of shares taken from the release dated 13 December 2012. For year ending 30 June 2013, FKP will paid a dividend of $0.01c per share going ex-div on 24 June 2013 paid on 20 September 2013. For more information see the FKP site.

*2.* The figures for *SCP* (earnings and distributions) are guideline forecasts for the period 2013 - 2014 extracted from the proposal of 5 October 2012 and updated per their release of 13 June 2013. As forecast SCP distribution for the period ending 30 June 2013 was $0.056c per share, Ex-div date 24 June 2013 paid 28 August 2013.

*3.* Inclusion of any share details in the above table is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* The figures in the above table, particularly those based on issued shares (some of which are subject to daily changes due to active share buy-back programs), may contain errors and should not be relied upon for investment decisions. As always do your own research and good luck  .


----------



## nulla nulla (19 October 2013)

So the big bad republicans kissed the presidents ring and agreed to pass the laws to raise the Ameracan Debt Ceiling into the stratosphere and everyone rejoiced. Not only did the world markets rebound, the *A-REIT *sector also tested the recent levels of resistance and may have even broken through with prospects of pushing higher. Maybe? Curious how now that the world has breathing space before the next debacle in February 2014, the Aud$ broke above US$0.96?





The updated *A-REIT Table *of closing prices as at *Friday 18 October 2013 *follows:


*Code*  *	Closing Price	*  *Capital*  *Earnings $*  *ROE*  *Dist $*  *	Yield %	*  *P/E*  *NTA $*  *Discount to NTA*            ABP  *	2.270	* 	1,028,400,814		0.0683		3.01%		0.1650	 *	7.27%	* 	33.24		2.30		1.30%	 ALZ  *	3.740	* 	2,162,934,266		0.3120		8.34%		0.2150	 *	5.75%	* 	11.99		3.46		-8.09%	 BWP  *	2.290	* 	1,231,456,555		0.1645		7.18%		0.1410	 *	6.16%	* 	13.92		1.87		-22.46%	 CDI  *	2.480	* 	530,970,512		0.1973		7.96%		0.1780	 *	7.18%	* 	12.57		2.74		9.49%	 CFX  *	2.020	* 	5,713,561,231		0.1180		5.84%		0.1340	 *	6.63%	* 	17.12		2.05		1.46%	 CHC  *	3.790	* 	1,145,574,174		0.0903		2.38%		0.2020	 *	5.33%	* 	41.97		2.12		-78.77%	 CQR  *	3.920	* 	1,323,325,258		0.0688		1.76%		0.2680	 *	6.84%	* 	56.98		3.31		-18.43%	 CPA  *	1.200	* 	2,816,404,096		0.0746		6.22%		0.0655	 *	5.46%	* 	16.09		1.15		-4.35%	 CMW  *	0.965	* 	1,600,684,416		0.0526		5.45%		0.0724	 *	7.50%	* 	18.35		0.68		-41.91%	 DXS  *	1.080	* 	5,226,146,110		0.0680		6.30%		0.0557	 *	5.16%	* 	15.88		1.03		-4.85%	 FDC  *	2.330	* 	3,326,404,846		-0.0824		-3.54%		0.1410	 *	6.05%	* 	-28.28		2.22		-4.95%	 FKP  *	1.695	* 	545,075,905		0.2940		17.35%		0.0100	 *	0.59%	* 	5.77		3.98		57.41%	 GMG  *	5.020	* 	8,600,434,414		0.2307		4.60%		0.1870	 *	3.73%	* 	21.76		2.64		-90.15%	 GPT  *	3.720	* 	6,304,984,729		0.3360		9.03%		0.1980	 *	5.32%	* 	11.07		3.76		1.06%	 IOF  *	3.060	* 	1,878,985,221		0.1600		5.23%		0.1775	 *	5.80%	* 	19.13		3.14		2.55%	 MGR  *	1.780	* 	6,519,632,269		0.0864		4.85%		0.0870	 *	4.89%	* 	20.60		1.64		-8.54%	 SCP  *	1.560	* 	1,002,170,738		0.1220		7.82%		0.1080	 *	6.92%	* 	12.79		1.56		0.00%	 SGP  *	4.000	* 	9,223,002,988		0.0130		0.33%		0.2400	 *	6.00%	* 	307.69		3.49		-14.61%	 WDC  *	11.040	* 	24,223,288,488		0.7579		6.87%		0.4950	 *	4.48%	* 	14.57		6.90		-60.00%		WRT	 *	3.120	* 	9,528,998,528		0.2706		8.67%		0.1875	 *	6.01%	* 	11.53		3.42		8.77%	

A comparison Table of this weeks closing prices with last weeks shows that the best performers this week were ALZ, FKP & WRT. Only 3 shares out of the 22 listed managed to go backwards for the week, they were BWP, SCP & WDC:


*	Share	*  *Code*  *	Closing_Price	*  *	Closing_Price	*  *	$_Change	*  *	%_Change	*    *	11-Oct-13	*  *	18-Oct-13	*    *	Abacus Property	*  ABP  *	2.260	*  *	2.270	*  *	0.010	*  *	0.44%	*  *	Australand Property	*  ALZ  *	3.610	*  *	3.740	*  *	0.130	*  * 3.60% *  *	BWP Trust	*  BWP  *	2.300	*  *	2.290	*  *	-0.010	*  *	-0.43%	*  *	Challenger Div	*  CDI  *	2.450	*  *	2.480	*  *	0.030	*  *	1.22%	*  *	CFS Retail Trust	*  CFX  *	2.020	*  *	2.020	*  *	0.000	*  *	0.00%	*  *	Charter Hall	*  CHC  *	3.720	*  *	3.790	*  *	0.070	*  *	1.88%	*  *	Charter Hall Retail	*  CQR  *	3.840	*  *	3.920	*  *	0.080	*  *	2.08%	*  *	Commonwealth_Office	*  CPA  *	1.190	*  *	1.200	*  *	0.010	*  *	0.84%	*  *	Cromwell	*  CMW  *	0.960	*  *	0.965	*  *	0.005	*  *	0.52%	*  *	Dexus	*  DXS  *	1.060	*  *	1.080	*  *	0.020	*  *	1.89%	*  *	Federation Centres	*  FDC  *	2.310	*  *	2.330	*  *	0.020	*  *	0.87%	*  *	FKP Stapled	*  FKP  *	1.645	*  *	1.695	*  *	0.050	*  * 3.04% *  *	Goodman Group	*  GMG  *	4.950	*  *	5.020	*  *	0.070	*  *	1.41%	*  *	GPT Group	*  GPT  *	3.640	*  *	3.720	*  *	0.080	*  *	2.20%	*  *	Investa Office	*  IOF  *	3.010	*  *	3.060	*  *	0.050	*  *	1.66%	*  *	Mirvac Group	*  MGR  *	1.740	*  *	1.780	*  *	0.040	*  *	2.30%	*  *	SCA Property Group	*  SCP  *	1.570	*  *	1.560	*  *	-0.010	*  *	-0.64%	*  *	Stockland Property	*  SGP  *	3.910	*  *	4.000	*  *	0.090	*  *	2.30%	*  *	Westfield	*  WDC  *	11.050	*  *	11.040	*  *	-0.010	*  *	-0.09%	*  *	Westfield Retail	* 	WRT	 *	3.020	*  *	3.120	*  *	0.100	*  * 3.31% * 

*Comments:*

*1.* The figures for *FKP* are based on information provided in FKP's Annual Report converting the figures based on the number of shares on issue as at 30-6-12 to the number of shares on issue after the August 2012 issue. Further the initial figures have been adjusted to reflect the consolidation of 7 shares to 1 share with the resultant number of shares taken from the release dated 13 December 2012. For year ending 30 June 2013, FKP paid a dividend of $0.01c per share going ex-div on 24 June 2013 paid on 20 September 2013. For more information see the FKP site.

*2.* The figures for *SCP* (earnings and distributions) are guideline forecasts for the period 2013 - 2014 extracted from the proposal of 5 October 2012 and updated per their release of 13 June 2013. As forecast SCP distribution for the period ending 30 June 2013 was $0.056c per share, Ex-div date 24 June 2013 paid 28 August 2013.

*3.* Inclusion of any share details in the above table is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* The figures in the above table, particularly those based on issued shares (some of which are subject to daily changes due to active share buy-back programs), may contain errors and should not be relied upon for investment decisions. As always do your own research and good luck  .


----------



## nulla nulla (26 October 2013)

While the chart for the *A-REIT *sector shows it broke above the recent resistance line it is not a rising breakout. If anything the chart reflects the uncertainty and lack of confidence investors have in this sector. While yields are predominantly better than bank interest rates the lack of bonus franking credits seems to be a possible deterant to the retiree investors, holding off investing at these levels. The larger investment houses also appear to be holding off investing in A-REIT's, prefering shares displaying prospects of growth opportunities. On a positive note the volitility continues to provide tight opportunities for the brave.




The *A-REIT Table* of closing prices for *Friday 25 October 2013 *follows: 


*Code*  *	Closing Price	*  *Capital*  *Earnings $*  *ROE*  *Dist $*  *	Yield %	*  *P/E*  *NTA $*  *Discount to NTA*            ABP  *	2.310	* 	1,046,522,414		0.0683		2.96%		0.1650	 *	7.14%	* 	33.82		2.30		-0.43%	 ALZ  *	3.700	* 	2,139,801,279		0.3120		8.43%		0.2150	 *	5.81%	* 	11.86		3.46		-6.94%	 BWP  *	2.290	* 	1,231,456,555		0.1645		7.18%		0.1410	 *	6.16%	* 	13.92		1.87		-22.46%	 CDI  *	2.600	* 	556,662,634		0.1973		7.59%		0.1780	 *	6.85%	* 	13.18		2.74		5.11%	 CFX  *	2.020	* 	5,713,561,231		0.1180		5.84%		0.1340	 *	6.63%	* 	17.12		2.05		1.46%	 CHC  *	3.750	* 	1,133,483,681		0.0903		2.41%		0.2020	 *	5.39%	* 	41.53		2.12		-76.89%	 CQR  *	3.980	* 	1,343,580,237		0.0688		1.73%		0.2680	 *	6.73%	* 	57.85		3.31		-20.24%	 CPA  *	1.190	* 	2,792,934,061		0.0746		6.27%		0.0655	 *	5.50%	* 	15.95		1.15		-3.48%	 CMW  *	0.970	* 	1,608,978,117		0.0526		5.42%		0.0724	 *	7.46%	* 	18.44		0.68		-42.65%	 DXS  *	1.055	* 	5,105,170,506		0.0680		6.45%		0.0557	 *	5.28%	* 	15.51		1.03		-2.43%	 FDC  *	2.370	* 	3,383,510,509		-0.0824		-3.48%		0.1410	 *	5.95%	* 	-28.76		2.22		-6.76%	 FKP  *	2.030	* 	652,804,771		0.2940		14.48%		0.0100	 *	0.49%	* 	6.90		3.98		48.99%	 GMG  *	5.000	* 	8,566,169,735		0.2307		4.61%		0.1870	 *	3.74%	* 	21.67		2.64		-89.39%	 GPT  *	3.720	* 	6,304,984,729		0.3360		9.03%		0.1980	 *	5.32%	* 	11.07		3.76		1.06%	 IOF  *	3.090	* 	1,897,406,645		0.1600		5.18%		0.1775	 *	5.74%	* 	19.31		3.14		1.59%	 MGR  *	1.745	* 	6,391,437,253		0.0864		4.95%		0.0870	 *	4.99%	* 	20.20		1.64		-6.40%	 SCP  *	1.590	* 	1,021,443,253		0.1220		7.67%		0.1080	 *	6.79%	* 	13.03		1.56		-1.92%	 SGP  *	3.980	* 	9,176,887,973		0.0130		0.33%		0.2400	 *	6.03%	* 	306.15		3.49		-14.04%	 WDC  *	10.940	* 	24,003,874,643		0.7579		6.93%		0.4950	 *	4.52%	* 	14.43		6.90		-58.55%		WRT	 *	3.090	* 	9,437,373,543		0.2706		8.76%		0.1875	 *	6.07%	* 	11.42		3.42		9.65%	

A table showing the changes for the week follows. *FKP* rallied almost *20%* in the week with the nearest other improver being *CDI* on just under *5%*. While excellent for FKP holders, on past performance you would have to question how long the sudden price improvement can last.


*	Share	*  *Code*  *	Closing_Price	*  *	Closing_Price	*  *	$_Change	*  *	%_Change	*    *	18-Oct-13	*  *	25-Oct-13	*    *	Abacus Property	*  ABP  *	2.270	*  *	2.310	*  *	0.040	*  *	1.76%	*  *	Australand Property	*  ALZ  *	3.740	*  *	3.700	*  *	-0.040	*  *	-1.07%	*  *	BWP Trust	*  BWP  *	2.290	*  *	2.290	*  *	0.000	*  *	0.00%	*  *	Challenger Div	*  CDI  *	2.480	*  *	2.600	*  *	0.120	*  * 4.84%	*  *	CFS Retail Trust	*  CFX  *	2.020	*  *	2.020	*  *	0.000	*  *	0.00%	*  *	Charter Hall	*  CHC  *	3.790	*  *	3.750	*  *	-0.040	*  *	-1.06%	*  *	Charter Hall Retail	*  CQR  *	3.920	*  *	3.980	*  *	0.060	*  *	1.53%	*  *	Commonwealth_Office	*  CPA  *	1.200	*  *	1.190	*  *	-0.010	*  *	-0.83%	*  *	Cromwell	*  CMW  *	0.965	*  *	0.970	*  *	0.005	*  *	0.52%	*  *	Dexus	*  DXS  *	1.080	*  *	1.055	*  *	-0.025	*  *	-2.31%	*  *	Federation Centres	*  FDC  *	2.330	*  *	2.370	*  *	0.040	*  *	1.72%	*  *	FKP Stapled	*  FKP  *	1.695	*  *	2.030	*  *	0.335	*  * 19.76% *  *	Goodman Group	*  GMG  *	5.020	*  *	5.000	*  *	-0.020	*  *	-0.40%	*  *	GPT Group	*  GPT  *	3.720	*  *	3.720	*  *	0.000	*  *	0.00%	*  *	Investa Office	*  IOF  *	3.060	*  *	3.090	*  *	0.030	*  *	0.98%	*  *	Mirvac Group	*  MGR  *	1.780	*  *	1.745	*  *	-0.035	*  *	-1.97%	*  *	SCA Property Group	*  SCP  *	1.560	*  *	1.590	*  *	0.030	*  *	1.92%	*  *	Stockland Property	*  SGP  *	4.000	*  *	3.980	*  *	-0.020	*  *	-0.50%	*  *	Westfield	*  WDC  *	11.040	*  *	10.940	*  *	-0.100	*  *	-0.91%	*  *	Westfield Retail	* 	WRT	 *	3.120	*  *	3.090	*  *	-0.030	*  *	-0.96%	* 


*Comments:*

*1.* The figures for *FKP* are based on the information provided in FKP's Annual Report converting the figures based on the number of shares on issue as at 30-6-12 to the number of shares on issue after the August 2012 issue. Further the figures have been adjusted to reflect the consolidation of  7 shares to 1 share with the resultant number of shares taken from the release dated 13 December 2012. For year ending 30 June 2013, FKP paid a dividend of $0.01c per share going ex-div on 24 June 2013 paid on 20 September 2013. For more information see the FKP site.

*2.* The figures for *SCP* (earnings and distributions) are guideline forecasts for the period 2013 - 2014 extracted from the proposal of 5 October 2012 and updated per their release of 13 June 2013. As forecast SCP distribution for the period ending 30 June 2013 was $0.056c per share, Ex-div date 24 June 2013, paid 28 August 2013.

*3.* Inclusion of any share details in the above table is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* The figures in the above table, particularly those based on issued shares (some of which are subject to daily changes due to active share buy-back programs), may contain errors and should not be relied upon for investment decisions. As always do your own research and good luck  .


----------



## nulla nulla (2 November 2013)

The hoped for business uplift following the recent election simply hasn't materialised. While the *A-REIT Sector *continues to struggle to break through the resistance level it is encouraging to see that it hasn't collapsed downwards either. 




The *A-REIT Table *of closing prices as at *1 November 2013 *follows:


*Code*  *	Closing Price	*  *Capital*  *Earnings $*  *ROE*  *Dist $*  *	Yield %	*  *P/E*  *NTA $*  *Discount to NTA*            ABP  *	2.340	* 	1,060,113,614		0.0683		2.92%		0.1650	 *	7.05%	* 	34.26		2.30		-1.74%	 ALZ  *	3.720	* 	2,151,367,772		0.3120		8.39%		0.2150	 *	5.78%	* 	11.92		3.46		-7.51%	 BWP  *	2.300	* 	1,236,834,094		0.1645		7.15%		0.1410	 *	6.13%	* 	13.98		1.87		-22.99%	 CDI  *	2.620	* 	560,944,654		0.1973		7.53%		0.1780	 *	6.79%	* 	13.28		2.74		4.38%	 CFX  *	2.080	* 	5,883,270,971		0.1180		5.67%		0.1340	 *	6.44%	* 	17.63		2.05		-1.46%	 CHC  *	3.870	* 	1,169,755,159		0.0903		2.33%		0.2020	 *	5.22%	* 	42.86		2.12		-82.55%	 CQR  *	4.050	* 	1,367,211,045		0.0688		1.70%		0.2680	 *	6.62%	* 	58.87		3.31		-22.36%	 CPA  *	1.190	* 	2,792,934,061		0.0746		6.27%		0.0655	 *	5.50%	* 	15.95		1.15		-3.48%	 CMW  *	0.980	* 	1,625,565,520		0.0526		5.37%		0.0724	 *	7.39%	* 	18.63		0.68		-44.12%	 DXS  *	1.065	* 	5,153,560,747		0.0680		6.38%		0.0557	 *	5.23%	* 	15.66		1.03		-3.40%	 FDC  *	2.460	* 	3,511,998,250		-0.0824		-3.35%		0.1410	 *	5.73%	* 	-29.85		2.22		-10.81%	 FKP  *	1.850	* 	594,920,604		0.2940		15.89%		0.0100	 *	0.54%	* 	6.29		3.98		53.52%	 GMG  *	5.030	* 	8,617,566,753		0.2307		4.59%		0.1870	 *	3.72%	* 	21.80		2.64		-90.53%	 GPT  *	3.660	* 	6,203,291,427		0.3360		9.18%		0.1980	 *	5.41%	* 	10.89		3.76		2.66%	 IOF  *	3.150	* 	1,934,249,493		0.1600		5.08%		0.1775	 *	5.63%	* 	19.69		3.14		-0.32%	 MGR  *	1.755	* 	6,428,064,400		0.0864		4.92%		0.0870	 *	4.96%	* 	20.31		1.64		-7.01%	 SCP  *	1.580	* 	1,015,019,081		0.1220		7.72%		0.1080	 *	6.84%	* 	12.95		1.56		-1.28%	 SGP  *	4.020	* 	9,269,118,003		0.0130		0.32%		0.2400	 *	5.97%	* 	309.23		3.49		-15.19%	 WDC  *	10.800	* 	23,696,695,260		0.7579		7.02%		0.4950	 *	4.58%	* 	14.25		6.90		-56.52%		WRT	 *	3.100	* 	9,467,915,205		0.2706		8.73%		0.1875	 *	6.05%	* 	11.46		3.42		9.36%	

The comparison table for the change in closing prices for the week ending 1 November 2013 follows:


*	Share	*  *Code*  *	Closing_Price	*  *	Closing_Price	*  *	$_Change	*  *	%_Change	*    *	25-Oct-13	*  *	1-Nov-13	*    *	Abacus Property	*  ABP  *	2.310	*  *	2.340	*  *	0.030	*  *	1.30%	*  *	Australand Property	*  ALZ  *	3.700	*  *	3.720	*  *	0.020	*  *	0.54%	*  *	BWP Trust	*  BWP  *	2.290	*  *	2.300	*  *	0.010	*  *	0.44%	*  *	Challenger Div	*  CDI  *	2.600	*  *	2.620	*  *	0.020	*  *	0.77%	*  *	CFS Retail Trust	*  CFX  *	2.020	*  *	2.080	*  *	0.060	*  * 2.97% *  *	Charter Hall	*  CHC  *	3.750	*  *	3.870	*  *	0.120	*  * 3.20% *  *	Charter Hall Retail	*  CQR  *	3.980	*  *	4.050	*  *	0.070	*  *	1.76%	*  *	Commonwealth_Office	*  CPA  *	1.190	*  *	1.190	*  *	0.000	*  *	0.00%	*  *	Cromwell	*  CMW  *	0.970	*  *	0.980	*  *	0.010	*  *	1.03%	*  *	Dexus	*  DXS  *	1.055	*  *	1.065	*  *	0.010	*  *	0.95%	*  *	Federation Centres	*  FDC  *	2.370	*  *	2.460	*  *	0.090	*  * 3.80% *  *	FKP Stapled	*  FKP  *	2.030	*  *	1.850	*  *	-0.180	*  *	-8.87%	*  *	Goodman Group	*  GMG  *	5.000	*  *	5.030	*  *	0.030	*  *	0.60%	*  *	GPT Group	*  GPT  *	3.720	*  *	3.660	*  *	-0.060	*  *	-1.61%	*  *	Investa Office	*  IOF  *	3.090	*  *	3.150	*  *	0.060	*  *	1.94%	*  *	Mirvac Group	*  MGR  *	1.745	*  *	1.755	*  *	0.010	*  *	0.57%	*  *	SCA Property Group	*  SCP  *	1.590	*  *	1.580	*  *	-0.010	*  *	-0.63%	*  *	Stockland Property	*  SGP  *	3.980	*  *	4.020	*  *	0.040	*  *	1.01%	*  *	Westfield	*  WDC  *	10.940	*  *	10.800	*  *	-0.140	*  *	-1.28%	*  *	Westfield Retail	* 	WRT	 *	3.090	*  *	3.100	*  *	0.010	*  *	0.32%	* 

The fall of FKP should be disregarded as they innitiated a capital raising through a new issue during the week.

*Comments:*

*1.* The figures for *FKP* are now out of date due to the current capital raising undertaken by FKP. The issue of new shares is expected to be finalised around Friday 6 December 2013. The figures for capital, return on equity, yield, nta etc will be updated after FKP issues the appropriate cleansing statement

*2.* The figures for *SCP* (earnings and distributions) are guideline forecasts for the period 2013 - 2014 extracted from the proposal of 5 October 2012 and updated per their release of 13 June 2013. 

*3.* Inclusion of any share details in the above table is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* The figures in the above table, particularly those based on issued shares (some of which are subject to daily changes due to active share buy-back programs), may contain errors and should not be relied upon for investment decisions. As always do your own research and good luck  .


----------



## nulla nulla (9 November 2013)

The A-REIT sector traded sideways again this last week slipping slightly below the recent level of resistance. The market was going nowhere early in the week as the major players took Tuesday off from trading to select their horses for the Melbourne Cup and then off to their Cup lunches. They must have lost a bucket of money on the race as almost immediatley after, the A-REIT sector was sold down like it was Friday afternoon. Then on Thursday the Australian jobless figures came out and even though the slight increase was pretty much in line with expectations, the A-REIt's specialising in retail were sold down (with the possible exception of Charter Hall Retail which finished up for the week by 1.73%). The Aud$ was slapped back from US$0.96 to below US$0.94 through the week and it is probably likely some more overseas investors pulled their money out our A-REIT sector. The banks and miners might be pushing the All Ords up to 4 year highs but the A-REIT sector overall is languishing.




The updated *A-REIT Ta*ble for closing prices on *Friday 8 November 2013 *follows:


*Code*  *	Closing Price	*  *Capital*  *Earnings $*  *ROE*  *Dist $*  *	Yield %	*  *P/E*  *NTA $*  *Discount to NTA*            ABP  *	2.290	* 	1,037,461,614		0.0683		2.98%		0.1650	 *	7.21%	* 	33.53		2.30		0.43%	 ALZ  *	3.950	* 	2,284,382,447		0.3120		7.90%		0.2150	 *	5.44%	* 	12.66		3.46		-14.16%	 BWP  *	2.300	* 	1,236,834,094		0.1645		7.15%		0.1410	 *	6.13%	* 	13.98		1.87		-22.99%	 CDI  *	2.630	* 	563,085,664		0.1973		7.50%		0.1780	 *	6.77%	* 	13.33		2.74		4.01%	 CFX  *	2.020	* 	5,713,561,231		0.1180		5.84%		0.1340	 *	6.63%	* 	17.12		2.05		1.46%	 CHC  *	3.820	* 	1,154,642,043		0.0903		2.36%		0.2020	 *	5.29%	* 	42.30		2.12		-80.19%	 CQR  *	4.120	* 	1,390,841,853		0.0688		1.67%		0.2680	 *	6.50%	* 	59.88		3.31		-24.47%	 CPA  *	1.190	* 	2,792,934,061		0.0746		6.27%		0.0655	 *	5.50%	* 	15.95		1.15		-3.48%	 CMW  *	1.005	* 	1,667,034,029		0.0526		5.23%		0.0724	 *	7.20%	* 	19.11		0.68		-47.79%	 DXS  *	1.060	* 	5,129,365,627		0.0680		6.42%		0.0557	 *	5.25%	* 	15.59		1.03		-2.91%	 FDC  *	2.490	* 	3,554,827,497		-0.0824		-3.31%		0.1410	 *	5.66%	* 	-30.22		2.22		-12.16%	 FKP  *	1.860	* 	598,136,391		0.2940		15.81%		0.0100	 *	0.54%	* 	6.33		3.98		53.27%	 GMG  *	5.060	* 	8,668,963,772		0.2307		4.56%		0.1870	 *	3.70%	* 	21.93		2.64		-91.67%	 GPT  *	3.710	* 	6,288,035,845		0.3360		9.06%		0.1980	 *	5.34%	* 	11.04		3.76		1.33%	 IOF  *	3.180	* 	1,952,670,916		0.1600		5.03%		0.1775	 *	5.58%	* 	19.88		3.14		-1.27%	 MGR  *	1.765	* 	6,464,691,548		0.0864		4.90%		0.0870	 *	4.93%	* 	20.43		1.64		-7.62%	 SCP  *	1.600	* 	1,027,867,424		0.1220		7.63%		0.1080	 *	6.75%	* 	13.11		1.56		-2.56%	 SGP  *	4.040	* 	9,315,233,018		0.0130		0.32%		0.2400	 *	5.94%	* 	310.77		3.49		-15.76%	 WDC  *	10.840	* 	23,784,460,798		0.7579		6.99%		0.4950	 *	4.57%	* 	14.30		6.90		-57.10%		WRT	 *	3.030	* 	9,254,123,571		0.2706		8.93%		0.1875	 *	6.19%	* 	11.20		3.42		11.40%	

The Table comparing this weeks closing prices with last week follows:


*	Share	*  *Code*  *	Closing_Price	*  *	Closing_Price	*  *	$_Change	*  *	%_Change	*    *	1-Nov-13	*  *	8-Nov-13	*    *	Abacus Property	*  ABP  *	2.340	*  *	2.290	*  *	-0.050	*  *	-2.14%	*  *	Australand Property	*  ALZ  *	3.720	*  *	3.950	*  *	0.230	*  * 6.18% *  *	BWP Trust	*  BWP  *	2.300	*  *	2.300	*  *	0.000	*  *	0.00%	*  *	Challenger Div	*  CDI  *	2.620	*  *	2.630	*  *	0.010	*  *	0.38%	*  *	CFS Retail Trust	*  CFX  *	2.080	*  *	2.020	*  *	-0.060	*  *	-2.88%	*  *	Charter Hall	*  CHC  *	3.870	*  *	3.820	*  *	-0.050	*  *	-1.29%	*  *	Charter Hall Retail	*  CQR  *	4.050	*  *	4.120	*  *	0.070	*  * 1.73% *  *	Commonwealth_Office	*  CPA  *	1.190	*  *	1.190	*  *	0.000	*  *	0.00%	*  *	Cromwell	*  CMW  *	0.980	*  *	1.005	*  *	0.025	*  * 2.55% *  *	Dexus	*  DXS  *	1.065	*  *	1.060	*  *	-0.005	*  *	-0.47%	*  *	Federation Centres	*  FDC  *	2.460	*  *	2.490	*  *	0.030	*  *	1.22%	*  *	FKP Stapled	*  FKP  *	1.850	*  *	1.860	*  *	0.010	*  *	0.54%	*  *	Goodman Group	*  GMG  *	5.030	*  *	5.060	*  *	0.030	*  *	0.60%	*  *	GPT Group	*  GPT  *	3.660	*  *	3.710	*  *	0.050	*  *	1.37%	*  *	Investa Office	*  IOF  *	3.150	*  *	3.180	*  *	0.030	*  *	0.95%	*  *	Mirvac Group	*  MGR  *	1.755	*  *	1.765	*  *	0.010	*  *	0.57%	*  *	SCA Property Group	*  SCP  *	1.580	*  *	1.600	*  *	0.020	*  *	1.27%	*  *	Stockland Property	*  SGP  *	4.020	*  *	4.040	*  *	0.020	*  *	0.50%	*  *	Westfield	*  WDC  *	10.800	*  *	10.840	*  *	0.040	*  *	0.37%	*  *	Westfield Retail	* 	WRT	 *	3.100	*  *	3.030	*  *	-0.070	*  *	-2.26%	* 

The winners this week were: Australand +6.18%; Cromwell +2.55%; and Charter Hall Retail +1.73%. Those that dropped the most for the week were:  CFS Retail -2.88%; Westfield Retail Trust -2.26%; and Abacus Property -2.14%.

*Comments:*

*1.* The figures for *FKP* are now out of date due to the current capital raising undertaken by FKP. The issue of new shares is expected to be finalised around Friday 6 December 2013. The figures for capital, return on equity, yield nta etc will be updated after FKP issues the appropriate cleansing statement

*2.* The figures for *SCP* (earnings and distributions) are guideline forecasts for the period 2013 - 2014 extracted from the proposal of 5 October 2012 and updated per their release of 13 June 2013. 

*3.* Inclusion of any share details in the above table is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* The figures in the above table, particularly those based on issued shares (some of which are subject to daily changes due to active share buy-back programs), may contain errors and should not be relied upon for investment decisions. As always do your own research and good luck  .


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## nulla nulla (17 November 2013)

Another week of dips and recoveries for the *A-REIT Sector*. The sector over-all is flat lining at the moment. The rumours surrounding the continuation of the US quantative easing program continue to cause fluctuation in the Aud$ and, in my opinion, the volitility there flows through to the A-REIT sector. The sector is certainly a mixed bag at the moment. With yields higher than interest rates, the sector was an attractive investment area prior to June 2013, however with a falling Aud$ against the US$ the potential for capital losses on foreign investment wiped out any incentive for foreign investors. The RBA wants to keep the Aud$ low against the US$ to stimulate our economy, however while this makes our exports cheaper it also appears to be a disincentive for foreign investment as they can get better rates of return on their investments elsewhere. Damned if you do and Damned if you don't.





The updated *A-ReIT Table *for the closing prices as at *Friday 15 November 2013 *follows. The shares on issue; earnings; distributions; and nta have been updated using the figures quoted in ComsecIress presumably from Huntleys. The figures for FKP and SCP are still based on their releases as pointed out below.


*Code*  *	Closing Price	*  *Capital*  *Earnings $*  *ROE*  *Dist $*  *	Yield %	*  *P/E*  *NTA $*  *Discount to NTA*            ABP  *	2.250	* 	1,113,705,871		0.1368		6.08%		0.1650	 *	7.33%	* 	16.45		2.32		3.02%	 ALZ  *	3.850	* 	2,226,549,980		0.3120		8.10%		0.2150	 *	5.58%	* 	12.34		3.57		-7.84%	 BWP  *	2.300	* 	1,442,481,614		0.2078		9.03%		0.1405	 *	6.11%	* 	11.07		1.93		-19.17%	 CDI  *	2.550	* 	545,957,583		0.1890		7.41%		0.1780	 *	6.98%	* 	13.49		2.74		6.93%	 CFX  *	2.040	* 	5,830,904,848		0.1044		5.12%		0.1360	 *	6.67%	* 	19.54		2.04		0.00%	 CHC  *	3.780	* 	1,168,277,686		0.1829		4.84%		0.2020	 *	5.34%	* 	20.67		2.13		-77.46%	 CQR  *	4.010	* 	1,370,793,959		0.1624		4.05%		0.2680	 *	6.68%	* 	24.69		3.32		-20.78%	 CPA  *	1.210	* 	2,839,874,130		0.0619		5.12%		0.0655	 *	5.41%	* 	19.55		1.15		-5.22%	 CMW  *	1.025	* 	1,762,136,194		0.0344		3.36%		0.0730	 *	7.12%	* 	29.80		0.70		-46.43%	 DXS  *	1.090	* 	5,044,768,984		0.1091		10.01%		0.0600	 *	5.50%	* 	9.99		1.05		-3.81%	 FDC  *	2.420	* 	3,454,892,587		0.1479		6.11%		0.1410	 *	5.83%	* 	16.36		2.22		-9.01%	 FKP  *	2.050	* 	864,430,689		0.0087		0.42%		0.0087	 *	0.42%	* 	235.63		3.53		41.93%	 GMG  *	5.050	* 	8,679,651,185		0.0963		1.91%		0.1940	 *	3.84%	* 	52.44		2.69		-87.73%	 GPT  *	3.730	* 	6,321,934,620		0.3345		8.97%		0.1980	 *	5.31%	* 	11.15		3.76		0.80%	 IOF  *	3.170	* 	1,946,530,442		0.1600		5.05%		0.1775	 *	5.60%	* 	19.81		3.14		-0.96%	 MGR  *	1.760	* 	6,450,292,073		0.0406		2.31%		0.0870	 *	4.94%	* 	43.35		1.62		-8.64%	 SCP  *	1.615	* 	1,037,503,681		0.1220		7.55%		0.1080	 *	6.69%	* 	13.24		1.56		-3.53%	 SGP  *	4.020	* 	9,269,118,003		0.0470		1.17%		0.2400	 *	5.97%	* 	85.53		3.50		-14.86%	 WDC  *	10.910	* 	23,058,304,791		0.6424		5.89%		0.5025	 *	4.61%	* 	16.98		6.99		-56.08%		WRT	 *	3.090	* 	9,025,870,329		0.2670		8.64%		0.1942	 *	6.28%	* 	11.57		3.47		10.95%	


*The comparison A-REIT Table for the closing share price this week versus last week follows:*


 *	Share	*  *Code*  *	Closing_Price	*  *	Closing_Price	*  *	$_Change	*  *	%_Change	*    *	8-Nov-13	*  *	15-Nov-13	*    *	Abacus Property	*  ABP  *	2.290	*  *	2.250	*  *	-0.040	*  *	-1.75%	*  *	Australand Property	*  ALZ  *	3.950	*  *	3.850	*  *	-0.100	*  *	-2.53%	*  *	BWP Trust	*  BWP  *	2.300	*  *	2.300	*  *	0.000	*  *	0.00%	*  *	Challenger Div	*  CDI  *	2.630	*  *	2.550	*  *	-0.080	*  *	-3.04%	*  *	CFS Retail Trust	*  CFX  *	2.020	*  *	2.040	*  *	0.020	*  *	0.99%	*  *	Charter Hall	*  CHC  *	3.820	*  *	3.780	*  *	-0.040	*  *	-1.05%	*  *	Charter Hall Retail	*  CQR  *	4.120	*  *	4.010	*  *	-0.110	*  *	-2.67%	*  *	Commonwealth_Office	*  CPA  *	1.190	*  *	1.210	*  *	0.020	*  *	1.68%	*  *	Cromwell	*  CMW  *	1.005	*  *	1.025	*  *	0.020	*  * 1.99% *  *	Dexus	*  DXS  *	1.060	*  *	1.090	*  *	0.030	*  * 2.83% *  *	Federation Centres	*  FDC  *	2.490	*  *	2.420	*  *	-0.070	*  *	-2.81%	*  *	FKP Stapled	*  FKP  *	1.860	*  *	2.050	*  *	0.190	*  * 10.22% *  *	Goodman Group	*  GMG  *	5.060	*  *	5.050	*  *	-0.010	*  *	-0.20%	*  *	GPT Group	*  GPT  *	3.710	*  *	3.730	*  *	0.020	*  *	0.54%	*  *	Investa Office	*  IOF  *	3.180	*  *	3.170	*  *	-0.010	*  *	-0.31%	*  *	Mirvac Group	*  MGR  *	1.765	*  *	1.760	*  *	-0.005	*  *	-0.28%	*  *	SCA Property Group	*  SCP  *	1.600	*  *	1.615	*  *	0.015	*  *	0.94%	*  *	Stockland Property	*  SGP  *	4.040	*  *	4.020	*  *	-0.020	*  *	-0.50%	*  *	Westfield	*  WDC  *	10.840	*  *	10.910	*  *	0.070	*  *	0.65%	*  *	Westfield Retail	* 	WRT	 *	3.030	*  *	3.090	*  *	0.060	*  *	1.98%	* 

FKP continued its run up. Seems the exit of SGP from their share register has stimulated investor interest and unshackled the share price. Now all the need to do is work on improving their returns. Cromwell, Dexus and Westfield Retail also had good weeks while Challenger Div, Federation Centres and Australand had a bit of a retrace, likely due to profit takers cashing out.

*Comments:*

*1.* The figures for *FKP* are subject to adjustment due to the current capital raising undertaken by FKP. The issue of new shares is expected to be finalised around Friday 6 December 2013. The figures for capital, return on equity, yield nta etc will be updated after FKP issues the appropriate cleansing statement

*2.* The figures for *SCP* (earnings and distributions) are guideline forecasts for the period 2013 - 2014 extracted from the proposal of 5 October 2012 and updated per their release of 13 June 2013. 

*3.* Inclusion of any share details in the above table is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* The figures in the above table, particularly those based on issued shares (some of which are subject to daily changes due to active share buy-back programs), may contain errors and should not be relied upon for investment decisions. As always do your own research and good luck  .


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## nulla nulla (21 November 2013)

Watching the A-REIT sector today was like watching a train wreck in slow motion. Just when you think it can't get any worse it does. After tracking sideways for weeks, a combination of factors this week saw the A-REIT drop for four consecutive days. For many of the A-REIT shares previous support lines were blown away as share prices retested lows from months back. 

The All-Ords was down but the A-REIT sector was down even more. A table of todays action follows:


 *Code*  *Prev Close*  *Todays Close*  * Change +/-* * Change %*  *Volume	* *VWAP*         *ABP* 	226		225		-1.0 		-0.44 		815,096		225.01	 *AIX* 	0.6		0.6		0.0 		0.00 		3,445,876		0.6434	 *AJA* 	353		353		0.0 		0.00 		77,547		352.73	 *ALZ* 	375		360		-15.0 		-4.00 		130,808,738		360.46	 *BWP* 	229		228		-1.0 		-0.44 		1,058,192		228.32	 *CDI	*	253		252		-1.0 		-0.40 		100,865		252.49	 *CFX* 	202		200		-2.0 		-0.99 		21,391,171		201.08	 *CHC* 	368		356		-12.0 		-3.26 		535,414		358.92	 *CMW* 	99.5		101		1.5 		1.51 		3,554,560		100.08	 *CPA* 	126		126.5		0.5 		0.40 		31,312,458		126.33	 *CQR* 	391		384		-7.0 		-1.79 		860,445		386.16	 *DUE* 	216		216		0.0 		0.00 		3,164,290		215.14	 *DXS* 	106.5		105		-1.5 		-1.41 		48,902,264		105.67	 *FDC* 	235		232		-3.0 		-1.28 		4,295,984		232.23	 *FKP* 	207		207		0.0 		0.00 		1,616,898		205.75	 *GMG* 	491		490		-1.0 		-0.20 		8,414,461		489.74	 *GPT* 	356		350		-6.0 		-1.69 		7,982,525		351.62	 *IOF* 	318		317		-1.0 		-0.31 		4,856,171		317.69	 *MGR* 	168		168		0.0 		0.00 		20,928,646		166.93	 *MQA* 	250		250		0.0 		0.00 		567,972		250.62	 *RHG* 	49		49.5		0.5 		1.02 		535,159		49.223	 *SCP* 	158.5		158.5		0.0 		0.00 		1,867,065		158.38	 *SGP* 	391		385		-6.0 		-1.53 		16,030,052		385.93	 *TCQ* 	27		27		0.0 		0.00 		45,600		27.484	 *WDC* 	1040		1030		-10.0 		-0.96 		11,223,859		1032.1	 *WRT	*	301		299		-2.0 		-0.66 		11,213,551		300	 *XPJ	*	1017.3		1008.2		-9.1 		-0.89 		0		0	

I might take tomorrow off. I don't know if I have the fortitude to watch anymore.


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## nulla nulla (23 November 2013)

For four consecutive days the Australian Share market retreated from the recent highs of 5400 to dip below 5300. The US markets tested 16,000 on the whipsawing resulting from  rumours as to whether or not the US Treasury will continue with quantative easing or will start to scale it back on the basis that their economy is starting to show signs of improvement. The Aud$ fell back to under US$0.93 after rising above US$0.94. The Governor of the Australian Reserve Bank, Mr Stevens, keeps making comments that he wants our dollar to fall further and that another interest rate cut is not off the cards if it will help stimulate our economy, this obviously discourages foreign investor in our Dollar and the *A-REIT *sector. China issues updates on their monetary policy, the world thinks Australia will sell less iron ore and our mining sector drops. However the head of BHP reminds the market that they are increasing the amount of iron ore exports, quarter on quarter, and that the Iron Ore price is still above US$130 per tonne. All in all our market is about as volatile as it can get. 




As if the above wasn’t enough, CapitaLand decided to reduce their holding in Australand from 59.1% to 39.1%. Unloading 20% of the entire Australand shares on issue, some 115,660,000 shares through an institutional aftermarket book build on 20 November 2013 at $3.685 per share. The shares were sold to a combination of existing and new institutional investors. Effectively these investors raised $422,159,000.00 to take up the opportunity to buy into Australand, most likely, by selling down their holdings in other A-REIT’s.  Adding further volatility to the week, GPT announced a bid of $1.27 per share for CPA (including the forthcoming CPA dividend) trumping Dexus offer of $1.205 per share. The subsequent share price movement of Dexus and GPT should have been an indicator of which offer the market favoured, however with all the above factors impacting the A-REIT sector, imo, it is too early to call. The CPA share price jumped 4.55% to $1.265, Dexus dropped 4.13% to finish the week at $1.045 and GPT dropped 4.56% to finish the week at $3.56 (it could have been worse, GPT closed on Thursday at $3.49).

The A-REIT Table for Weekending 22 November 2013 follows:


*Code*  *	Closing Price	*  *Capital*  *Earnings $*  *ROE*  *Dist $*  *	Yield %	*  *P/E*  *NTA $*  *Discount to NTA*            ABP  *	2.260	* 	1,118,655,675		0.1368		6.05%		0.1650	 *	7.30%	* 	16.52		2.32		2.59%	 ALZ  *	3.640	* 	2,105,101,799		0.3120		8.57%		0.2150	 *	5.91%	* 	11.67		3.57		-1.96%	 BWP  *	2.300	* 	1,442,481,614		0.2078		9.03%		0.1405	 *	6.11%	* 	11.07		1.93		-19.17%	 CDI  *	2.550	* 	545,957,583		0.1890		7.41%		0.1780	 *	6.98%	* 	13.49		2.74		6.93%	 CFX  *	2.000	* 	5,716,573,380		0.1044		5.22%		0.1360	 *	6.80%	* 	19.16		2.04		1.96%	 CHC  *	3.750	* 	1,159,005,641		0.1829		4.88%		0.2020	 *	5.39%	* 	20.50		2.13		-76.06%	 CQR  *	3.840	* 	1,312,680,499		0.1624		4.23%		0.2680	 *	6.98%	* 	23.65		3.32		-15.66%	 CPA  *	1.265	* 	2,968,959,317		0.0619		4.89%		0.0655	 *	5.18%	* 	20.44		1.15		-10.00%	 CMW  *	1.010	* 	1,736,348,835		0.0344		3.41%		0.0730	 *	7.23%	* 	29.36		0.70		-44.29%	 DXS  *	1.045	* 	4,836,498,705		0.1091		10.44%		0.0600	 *	5.74%	* 	9.58		1.05		0.48%	 FDC  *	2.370	* 	3,383,510,509		0.1479		6.24%		0.1410	 *	5.95%	* 	16.02		2.22		-6.76%	 FKP  *	2.110	* 	889,731,100		0.0087		0.41%		0.0087	 *	0.41%	* 	242.53		3.53		40.23%	 GMG  *	4.970	* 	8,542,151,761		0.0963		1.94%		0.1940	 *	3.90%	* 	51.61		2.69		-84.76%	 GPT  *	3.560	* 	6,033,803,551		0.3345		9.40%		0.1980	 *	5.56%	* 	10.64		3.76		5.32%	 IOF  *	3.190	* 	1,958,811,391		0.1600		5.02%		0.1775	 *	5.56%	* 	19.94		3.14		-1.59%	 MGR  *	1.685	* 	6,175,421,672		0.0406		2.41%		0.0870	 *	5.16%	* 	41.50		1.62		-4.01%	 SCP  *	1.600	* 	1,027,867,424		0.1220		7.63%		0.1080	 *	6.75%	* 	13.11		1.56		-2.56%	 SGP  *	3.880	* 	8,946,312,898		0.0470		1.21%		0.2400	 *	6.19%	* 	82.55		3.50		-10.86%	 WDC  *	10.580	* 	22,360,849,192		0.6424		6.07%		0.5025	 *	4.75%	* 	16.47		6.99		-51.36%		WRT	 *	3.030	* 	8,850,610,711		0.2670		8.81%		0.1942	 *	6.41%	* 	11.35		3.47		12.68%	


The comparison table for this weeks closing prices versus last weeks closing prices follows: 


*	Share	*  *Code*  *	Closing_Price	*  *	Closing_Price	*  *	$_Change	*  *	%_Change	*    *	15-Nov-13	*  *	22-Nov-13	*    *	Abacus Property	*  ABP  *	2.250	*  *	2.260	*  *	0.010	*  *	0.44%	*  *	Australand Property	*  ALZ  *	3.850	*  *	3.640	*  *	-0.210	*  *	-5.45%	*  *	BWP Trust	*  BWP  *	2.300	*  *	2.300	*  *	0.000	*  *	0.00%	*  *	Challenger Div	*  CDI  *	2.550	*  *	2.550	*  *	0.000	*  *	0.00%	*  *	CFS Retail Trust	*  CFX  *	2.040	*  *	2.000	*  *	-0.040	*  *	-1.96%	*  *	Charter Hall	*  CHC  *	3.780	*  *	3.750	*  *	-0.030	*  *	-0.79%	*  *	Charter Hall Retail	*  CQR  *	4.010	*  *	3.840	*  *	-0.170	*  *	-4.24%	*  *	Commonwealth_Office	*  CPA  *	1.210	*  *	1.265	*  *	0.055	*  *	4.55%	*  *	Cromwell	*  CMW  *	1.025	*  *	1.010	*  *	-0.015	*  *	-1.46%	*  *	Dexus	*  DXS  *	1.090	*  *	1.045	*  *	-0.045	*  *	-4.13%	*  *	Federation Centres	*  FDC  *	2.420	*  *	2.370	*  *	-0.050	*  *	-2.07%	*  *	FKP Stapled	*  FKP  *	2.050	*  *	2.110	*  *	0.060	*  *	2.93%	*  *	Goodman Group	*  GMG  *	5.050	*  *	4.970	*  *	-0.080	*  *	-1.58%	*  *	GPT Group	*  GPT  *	3.730	*  *	3.560	*  *	-0.170	*  *	-4.56%	*  *	Investa Office	*  IOF  *	3.170	*  *	3.190	*  *	0.020	*  *	0.63%	*  *	Mirvac Group	*  MGR  *	1.760	*  *	1.685	*  *	-0.075	*  *	-4.26%	*  *	SCA Property Group	*  SCP  *	1.615	*  *	1.600	*  *	-0.015	*  *	-0.93%	*  *	Stockland Property	*  SGP  *	4.020	*  *	3.880	*  *	-0.140	*  *	-3.48%	*  *	Westfield	*  WDC  *	10.910	*  *	10.580	*  *	-0.330	*  *	-3.02%	*  *	Westfield Retail	* 	WRT	 *	3.090	*  *	3.030	*  *	-0.060	*  *	-1.94%	* 


CPA was the big winner for the week, due to the bid by GPT.  Australand dropped the most, after CapitaLand decided to divest 115 million shares.


*Comments:*

*1.* The figures for *FKP* are subject to adjustment due to the current capital raising undertaken by FKP. The issue of new shares is expected to be finalised around Friday 6 December 2013. The figures for capital, return on equity, yield nta etc will be updated after FKP issues the appropriate cleansing statement.

*2.* The figures for *SCP* (earnings and distributions) are guideline forecasts for the period 2013 - 2014 extracted from the proposal of 5 October 2012 and updated per their release of 13 June 2013. 

*3.* Inclusion of any share details in the above table is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* The figures in the above table, particularly those based on issued shares (some of which are subject to daily changes due to active share buy-back programs), may contain errors and should not be relied upon for investment decisions. As always do your own research and good luck  .


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## nulla nulla (1 December 2013)

The *A-REIT Sector *looked like it was building a strong bounce off the support levels of 10.07 on Friday 22 November  2013 and the follow through on Monday 25 November was even more encouraging, particularly as the Aud$ had dipped against the US$. However the joy was short lived and as the Aud$ continued to fall against the US$, for six days straight, the A-REIT sector followed suite. 




The updated A-REIT Table for Weekending 29 November 2013 follows:


*Code*  *	Closing Price	*  *Capital*  *Earnings $*  *ROE*  *Dist $*  *	Yield %	*  *P/E*  *NTA $*  *Discount to NTA*            ABP  *	2.260	* 	1,118,655,675		0.1368		6.05%		0.1650	 *	7.30%	* 	16.52		2.32		2.59%	 ALZ  *	3.760	* 	2,174,500,759		0.3120		8.30%		0.2150	 *	5.72%	* 	12.05		3.57		-5.32%	 BWP  *	2.290	* 	1,436,209,955		0.2078		9.07%		0.1405	 *	6.14%	* 	11.02		1.93		-18.65%	 CDI  *	2.510	* 	537,393,543		0.1890		7.53%		0.1780	 *	7.09%	* 	13.28		2.74		8.39%	 CFX  *	2.050	* 	5,859,487,715		0.1044		5.09%		0.1360	 *	6.63%	* 	19.64		2.04		-0.49%	 CHC  *	3.750	* 	1,159,005,641		0.1829		4.88%		0.2020	 *	5.39%	* 	20.50		2.13		-76.06%	 CQR  *	3.790	* 	1,295,588,305		0.1624		4.28%		0.2680	 *	7.07%	* 	23.34		3.32		-14.16%	 CPA  *	1.270	* 	2,980,694,335		0.0619		4.87%		0.0655	 *	5.16%	* 	20.52		1.15		-10.43%	 CMW  *	0.975	* 	1,676,178,330		0.0344		3.53%		0.0730	 *	7.49%	* 	28.34		0.70		-39.29%	 DXS  *	1.045	* 	4,836,498,705		0.1091		10.44%		0.0600	 *	5.74%	* 	9.58		1.05		0.48%	 FDC  *	2.380	* 	3,397,786,925		0.1479		6.21%		0.1410	 *	5.92%	* 	16.09		2.22		-7.21%	 FKP  *	2.150	* 	906,598,040		0.0087		0.40%		0.0087	 *	0.40%	* 	247.13		3.53		39.09%	 GMG  *	4.840	* 	8,318,715,196		0.0963		1.99%		0.1940	 *	4.01%	* 	50.26		2.69		-79.93%	 GPT  *	3.580	* 	6,067,701,324		0.3345		9.34%		0.1980	 *	5.53%	* 	10.70		3.76		4.79%	 IOF  *	3.120	* 	1,915,828,069		0.1600		5.13%		0.1775	 *	5.69%	* 	19.50		3.14		0.64%	 MGR  *	1.700	* 	6,230,395,753		0.0406		2.39%		0.0870	 *	5.12%	* 	41.87		1.62		-4.94%	 SCP  *	1.580	* 	1,015,019,081		0.1220		7.72%		0.1080	 *	6.84%	* 	12.95		1.56		-1.28%	 SGP  *	3.850	* 	8,877,140,376		0.0470		1.22%		0.2400	 *	6.23%	* 	81.91		3.50		-10.00%	 WDC  *	10.400	* 	21,980,418,866		0.6424		6.18%		0.5025	 *	4.83%	* 	16.19		6.99		-48.78%		WRT	 *	3.050	* 	8,909,030,584		0.2670		8.75%		0.1942	 *	6.37%	* 	11.42		3.47		12.10%	

The comparison table of this weeks closing prices versus last weeks closing prices follows:


*	Share	*  *Code*  *	Closing_Price	*  *	Closing_Price	*  *	$_Change	*  *	%_Change	*    *	22-Nov-13	*  *	29-Nov-13	*    *	Abacus Property	*  ABP  *	2.260	*  *	2.260	*  *	0.000	*  *	0.00%	*  *	Australand Property	*  ALZ  *	3.640	*  *	3.760	*  *	0.120	*  * 3.30% *  *	BWP Trust	*  BWP  *	2.300	*  *	2.290	*  *	-0.010	*  *	-0.43%	*  *	Challenger Div	*  CDI  *	2.550	*  *	2.510	*  *	-0.040	*  *	-1.57%	*  *	CFS Retail Trust	*  CFX  *	2.000	*  *	2.050	*  *	0.050	*  * 2.50% *  *	Charter Hall	*  CHC  *	3.750	*  *	3.750	*  *	0.000	*  *	0.00%	*  *	Charter Hall Retail	*  CQR  *	3.840	*  *	3.790	*  *	-0.050	*  *	-1.30%	*  *	Commonwealth_Office	*  CPA  *	1.265	*  *	1.270	*  *	0.005	*  *	0.40%	*  *	Cromwell	*  CMW  *	1.010	*  *	0.975	*  *	-0.035	*  *	-3.47%	*  *	Dexus	*  DXS  *	1.045	*  *	1.045	*  *	0.000	*  *	0.00%	*  *	Federation Centres	*  FDC  *	2.370	*  *	2.380	*  *	0.010	*  *	0.42%	*  *	FKP Stapled	*  FKP  *	2.110	*  *	2.150	*  *	0.040	*  *	1.90%	*  *	Goodman Group	*  GMG  *	4.970	*  *	4.840	*  *	-0.130	*  *	-2.62%	*  *	GPT Group	*  GPT  *	3.560	*  *	3.580	*  *	0.020	*  *	0.56%	*  *	Investa Office	*  IOF  *	3.190	*  *	3.120	*  *	-0.070	*  *	-2.19%	*  *	Mirvac Group	*  MGR  *	1.685	*  *	1.700	*  *	0.015	*  *	0.89%	*  *	SCA Property Group	*  SCP  *	1.600	*  *	1.580	*  *	-0.020	*  *	-1.25%	*  *	Stockland Property	*  SGP  *	3.880	*  *	3.850	*  *	-0.030	*  *	-0.77%	*  *	Westfield	*  WDC  *	10.580	*  *	10.400	*  *	-0.180	*  *	-1.70%	*  *	Westfield Retail	* 	WRT	 *	3.030	*  *	3.050	*  *	0.020	*  *	0.66%	* 


*Comments:*

*1.* The figures for *FKP* are subject to adjustment due to the current capital raising undertaken by FKP. The issue of new shares is expected to be finalised around Friday 6 December 2013. The figures for capital, return on equity, yield nta etc will be updated after FKP issues the appropriate cleansing statement.


*2.* The figures for *SCP* (earnings and distributions) are guideline forecasts for the period 2013 - 2014 extracted from the proposal of 5 October 2012 and updated per their release of 13 June 2013. 

*3.* Inclusion of any share details in the above table is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* The figures in the above table, particularly those based on issued shares (some of which are subject to daily changes due to active share buy-back programs), may contain errors and should not be relied upon for investment decisions. As always do your own research and good luck  .


----------



## nulla nulla (7 December 2013)

The* A-REIT Sector* looked like it was going to bounce on Monday/Tuesday of this week, unfortunately it was short and sharp, like the dead cat variety. The US Jobs, employment and manufacturing figures came out early in the week and appear to have been better than analysts expected. 

The improvement in the economy, while minor, was quickly interpreted as indicative that the US economy is starting to improve, starting to get back on its' feet, *starting*.. The reaction of the market was to send the Dow Jones down because improvement in the economy is bad, right? Well no, improvement in the economy would normally instill confidence and stimulate share market recovery. However, because the current US share market confidence is driven by quantative easing, any signs of improvement in the economy could herald the easing/tapering of quantative easing. The market doesn't like this and the ripple effect of the US sell down was a sell down arround the world. And get this, even though the US has a trillion dollar debt, the signs of improvement in their economy stimulate a sell off of foreign currencies and gold as investors return to the US$. So down goes the Aud$ and down go the A-REIT's (unfortunately at a faster rate than the all ords). Ouch.




The *A-REIT Table *for closing prices on Friday *6 December 2013 *follows:


*Code*  *	Closing Price	*  *Capital*  *Earnings $*  *ROE*  *Dist $*  *	Yield %	*  *P/E*  *NTA $*  *Discount to NTA*            ABP  *	2.200	* 	1,088,956,851		0.1368		6.22%		0.1650	 *	7.50%	* 	16.08		2.32		5.17%	 ALZ  *	3.710	* 	2,145,584,526		0.3120		8.41%		0.2150	 *	5.80%	* 	11.89		3.57		-3.92%	 BWP  *	2.230	* 	1,398,579,999		0.2078		9.32%		0.1405	 *	6.30%	* 	10.73		1.93		-15.54%	 CDI  *	2.530	* 	541,675,563		0.1890		7.47%		0.1780	 *	7.04%	* 	13.39		2.74		7.66%	 CFX  *	1.940	* 	5,545,076,179		0.1044		5.38%		0.1360	 *	7.01%	* 	18.58		2.04		4.90%	 CHC  *	3.550	* 	1,097,192,007		0.1829		5.15%		0.2020	 *	5.69%	* 	19.41		2.13		-66.67%	 CQR  *	3.670	* 	1,254,567,040		0.1624		4.43%		0.2680	 *	7.30%	* 	22.60		3.32		-10.54%	 CPA  *	1.255	* 	2,945,489,283		0.0619		4.93%		0.0655	 *	5.22%	* 	20.27		1.15		-9.13%	 CMW  *	0.960	* 	1,650,390,972		0.0344		3.58%		0.0730	 *	7.60%	* 	27.91		0.70		-37.14%	 DXS  *	1.020	* 	4,720,792,995		0.1091		10.70%		0.0600	 *	5.88%	* 	9.35		1.05		2.86%	 FDC  *	2.280	* 	3,255,022,768		0.1479		6.49%		0.1410	 *	6.18%	* 	15.42		2.22		-2.70%	 FKP  *	2.050	* 	864,430,689		0.0087		0.42%		0.0087	 *	0.42%	* 	235.63		3.53		41.93%	 GMG  *	4.650	* 	7,992,154,062		0.0963		2.07%		0.1940	 *	4.17%	* 	48.29		2.69		-72.86%	 GPT  *	3.400	* 	5,762,621,369		0.3345		9.84%		0.1980	 *	5.82%	* 	10.16		3.76		9.57%	 IOF  *	3.060	* 	1,878,985,221		0.1600		5.23%		0.1775	 *	5.80%	* 	19.13		3.14		2.55%	 MGR  *	1.620	* 	5,937,200,658		0.0406		2.51%		0.0870	 *	5.37%	* 	39.90		1.62		0.00%	 SCP  *	1.530	* 	982,898,224		0.1220		7.97%		0.1080	 *	7.06%	* 	12.54		1.56		1.92%	 SGP  *	3.700	* 	8,531,277,764		0.0470		1.27%		0.2400	 *	6.49%	* 	78.72		3.50		-5.71%	 WDC  *	10.280	* 	21,726,798,648		0.6424		6.25%		0.5025	 *	4.89%	* 	16.00		6.99		-47.07%		WRT	 *	2.900	* 	8,470,881,539		0.2670		9.21%		0.1942	 *	6.70%	* 	10.86		3.47		16.43%	

The comparison table of this weeks closing prices verus last weeks closing prices shows how bad the sell down was across the board. I was going to say that "it is an indication of how bad the week was when you can measure the best performers by how low their drop was" however Challeger Diversified actualy gained $0.02 (or 0.8%) while the rest fell between 1-5%. The problem presenting itself now is working out whether this is a reliable support level (get back in) or the start of worse to come (cash out & take a holiday)?


*	Share	*  *Code*  *	Closing_Price	*  *	Closing_Price	*  *	$_Change	*  *	%_Change	*    *	29-Nov-13	*  *	6-Dec-13	*    *	Abacus Property	*  ABP  *	2.260	*  *	2.200	*  *	-0.060	*  *	-2.65%	*  *	Australand Property	*  ALZ  *	3.760	*  *	3.710	*  *	-0.050	*  *	-1.33%	*  *	BWP Trust	*  BWP  *	2.290	*  *	2.230	*  *	-0.060	*  *	-2.62%	*  *	Challenger Div	*  CDI  *	2.510	*  *	2.530	*  *	0.020	*  *	0.80%	*  *	CFS Retail Trust	*  CFX  *	2.050	*  *	1.940	*  *	-0.110	*  *	-5.37%	*  *	Charter Hall	*  CHC  *	3.750	*  *	3.550	*  *	-0.200	*  *	-5.33%	*  *	Charter Hall Retail	*  CQR  *	3.790	*  *	3.670	*  *	-0.120	*  *	-3.17%	*  *	Commonwealth_Office	*  CPA  *	1.270	*  *	1.255	*  *	-0.015	*  *	-1.18%	*  *	Cromwell	*  CMW  *	0.975	*  *	0.960	*  *	-0.015	*  *	-1.54%	*  *	Dexus	*  DXS  *	1.045	*  *	1.020	*  *	-0.025	*  *	-2.39%	*  *	Federation Centres	*  FDC  *	2.380	*  *	2.280	*  *	-0.100	*  *	-4.20%	*  *	FKP Stapled	*  FKP  *	2.150	*  *	2.050	*  *	-0.100	*  *	-4.65%	*  *	Goodman Group	*  GMG  *	4.840	*  *	4.650	*  *	-0.190	*  *	-3.93%	*  *	GPT Group	*  GPT  *	3.580	*  *	3.400	*  *	-0.180	*  *	-5.03%	*  *	Investa Office	*  IOF  *	3.120	*  *	3.060	*  *	-0.060	*  *	-1.92%	*  *	Mirvac Group	*  MGR  *	1.700	*  *	1.620	*  *	-0.080	*  *	-4.71%	*  *	SCA Property Group	*  SCP  *	1.580	*  *	1.530	*  *	-0.050	*  *	-3.16%	*  *	Stockland Property	*  SGP  *	3.850	*  *	3.700	*  *	-0.150	*  *	-3.90%	*  *	Westfield	*  WDC  *	10.400	*  *	10.280	*  *	-0.120	*  *	-1.15%	*  *	Westfield Retail	* 	WRT	 *	3.050	*  *	2.900	*  *	-0.150	*  *	-4.92%	* 

*Comments:*

*1.* The figures for *FKP* are subject to adjustment due to the current capital raising undertaken by FKP. The issue of new shares is expected to be finalised around Friday 6 December 2013. The figures for capital, return on equity, yield nta etc will be updated after FKP issues the appropriate cleansing statement.


*2.* The figures for *SCP* (earnings and distributions) are guideline forecasts for the period 2013 - 2014 extracted from the proposal of 5 October 2012 and updated per their release of 13 June 2013. 

*3.* Inclusion of any share details in the above table is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* The figures in the above table, particularly those based on issued shares (some of which are subject to daily changes due to active share buy-back programs), may contain errors and should not be relied upon for investment decisions. As always do your own research and good luck  .


----------



## nulla nulla (15 December 2013)

The A-REIT Sector continued to dive through the week barely managing to arrest the fall on Friday after four days of solid selling. The sector was once again heavily impacted by the sell down of the Aud$ which dropped below US$0.90 and the foreign investors abandoned Australian REIT’s. When you look at the fall of the Aud$ since May 2013 and the fall of the A-REIT sector for the same period, you realize their pain is even worse than that of local A-REIT investors. Foreign investors get hit with a double whammy. The yields might be good, locally, but for foreign investors the yields are not enough to cover the capital devaluation. You can hardly blame them for selling out. With the big currency players and Glenn Stevens jawboning the economy down and the Aud$ as being better priced at US$0.85, there is little point in foreign investors sticking around for their investment to be pushed down another 5%. 

I have included a chart this week which shows a comparison of the All Ords versus the Property Sector over the last twelve (12) months. The property sector was improving on a par with the All Ords until February 2013,  then it started to fall behind. The foreign investors flooded in between March and May 2013 chasing yield on the cheap funds, closing the gap. However as soon as the Aud$ started getting talked down in May the All Ords and the A-REIT sector fell. Then the All Ords started to climb toward 5400 the A-REIT didn’t climb but fell into a sideways pattern. Any improvement in the Aud$ alongside a share price rise merely represented a better selling point to foreign investors. When the All Ords started to reverse in November, the gap to the A-REIT sector didn’t close but was maintained pushing the A-REIT sector to lows we haven’t seen for a year.




The *A-REIT Table for week ending 13 December 2013* follows:


*Code*  *	Closing Price	*  *Capital*  *Earnings $*  *ROE*  *Dist $*  *	Yield %	*  *P/E*  *NTA $*  *Discount to NTA*            ABP  *	2.210	* 	1,093,906,655		0.1368		6.19%		0.1650	 *	7.47%	* 	16.15		2.32		4.74%	 ALZ  *	3.690	* 	2,134,018,032		0.3120		8.46%		0.2150	 *	5.83%	* 	11.83		3.57		-3.36%	 AOG  *	1.980	* 	990,220,691		0.0087		0.44%		0.0087	 *	0.44%	* 	227.59		3.53		43.91%	 BWP  *	2.140	* 	1,342,135,067		0.2078		9.71%		0.1405	 *	6.57%	* 	10.30		1.93		-10.88%	 CDI  *	2.430	* 	520,265,462		0.1890		7.78%		0.1780	 *	7.33%	* 	12.86		2.74		11.31%	 CFX  *	1.905	* 	5,445,036,144		0.1044		5.48%		0.1360	 *	7.14%	* 	18.25		2.04		6.62%	 CHC  *	3.480	* 	1,075,557,235		0.1829		5.26%		0.2020	 *	5.80%	* 	19.03		2.13		-63.38%	 CQR  *	3.530	* 	1,206,708,896		0.1624		4.60%		0.2680	 *	7.59%	* 	21.74		3.32		-6.33%	 CPA  *	1.270	* 	2,980,694,335		0.0619		4.87%		0.0655	 *	5.16%	* 	20.52		1.15		-10.43%	 CMW  *	0.940	* 	1,616,007,826		0.0344		3.66%		0.0730	 *	7.77%	* 	27.33		0.70		-34.29%	 DXS  *	1.025	* 	4,743,934,137		0.1091		10.64%		0.0600	 *	5.85%	* 	9.40		1.05		2.38%	 FDC  *	2.250	* 	3,212,193,521		0.1479		6.57%		0.1410	 *	6.27%	* 	15.21		2.22		-1.35%	 GMG  *	4.600	* 	7,906,216,921		0.0963		2.09%		0.1940	 *	4.22%	* 	47.77		2.69		-71.00%	 GPT  *	3.430	* 	5,813,468,028		0.3345		9.75%		0.1980	 *	5.77%	* 	10.25		3.76		8.78%	 IOF  *	3.020	* 	1,854,423,323		0.1600		5.30%		0.1775	 *	5.88%	* 	18.88		3.14		3.82%	 MGR  *	1.615	* 	5,918,875,965		0.0406		2.51%		0.0870	 *	5.39%	* 	39.78		1.62		0.31%	 SCP  *	1.475	* 	956,726,772		0.1220		8.27%		0.1080	 *	7.32%	* 	12.09		1.57		6.05%	 SGP  *	3.680	* 	8,485,162,749		0.0470		1.28%		0.2400	 *	6.52%	* 	78.30		3.50		-5.14%	 WDC  *	9.990	* 	21,113,883,122		0.6424		6.43%		0.5025	 *	5.03%	* 	15.55		6.99		-42.92%		WRT	 *	2.900	* 	8,470,881,539		0.2670		9.21%		0.1942	 *	6.70%	* 	10.86		3.47		16.43%	
 

The comparison table for this weeks’ closing prices versus last weeks’ closing prices follows:


*	Share	*  *Code*  *	Closing_Price	*  *	Closing_Price	*  *	$_Change	*  *	%_Change	*    *	6-Dec-13	*  *	13-Dec-13	*    *	Abacus Property	*  ABP  *	2.200	*  *	2.210	*  *	0.010	*  *	0.45%	*  *	Australand Property	*  ALZ  *	3.710	*  *	3.690	*  *	-0.020	*  *	-0.54%	*  *	Aveo (FKP Stapled)	*  AOG  *	2.050	*  *	1.980	*  *	-0.070	*  *	-3.41%	*  *	BWP Trust	*  BWP  *	2.230	*  *	2.140	*  *	-0.090	*  *	-4.04%	*  *	Challenger Div	*  CDI  *	2.530	*  *	2.430	*  *	-0.100	*  *	-3.95%	*  *	CFS Retail Trust	*  CFX  *	1.940	*  *	1.905	*  *	-0.035	*  *	-1.80%	*  *	Charter Hall	*  CHC  *	3.550	*  *	3.480	*  *	-0.070	*  *	-1.97%	*  *	Charter Hall Retail	*  CQR  *	3.670	*  *	3.530	*  *	-0.140	*  *	-3.81%	*  *	Commonwealth_Office	*  CPA  *	1.255	*  *	1.270	*  *	0.015	*  *	1.20%	*  *	Cromwell	*  CMW  *	0.960	*  *	0.940	*  *	-0.020	*  *	-2.08%	*  *	Dexus	*  DXS  *	1.020	*  *	1.025	*  *	0.005	*  *	0.49%	*  *	Federation Centres	*  FDC  *	2.280	*  *	2.250	*  *	-0.030	*  *	-1.32%	*  *	Goodman Group	*  GMG  *	4.650	*  *	4.600	*  *	-0.050	*  *	-1.08%	*  *	GPT Group	*  GPT  *	3.400	*  *	3.430	*  *	0.030	*  *	0.88%	*  *	Investa Office	*  IOF  *	3.060	*  *	3.020	*  *	-0.040	*  *	-1.31%	*  *	Mirvac Group	*  MGR  *	1.620	*  *	1.615	*  *	-0.005	*  *	-0.31%	*  *	SCA Property Group	*  SCP  *	1.530	*  *	1.475	*  *	-0.055	*  *	-3.59%	*  *	Stockland Property	*  SGP  *	3.700	*  *	3.680	*  *	-0.020	*  *	-0.54%	*  *	Westfield	*  WDC  *	10.280	*  *	9.990	*  *	-0.290	*  *	-2.82%	*  *	Westfield Retail	* 	WRT	 *	2.900	*  *	2.900	*  *	0.000	*  *	0.00%	* 


Not a good week and hard to see any basis for it getting better in the immediate future. I doubt that the promise of some good distributions (many of the A-REIT’s will go ex-div before xmas) will be enough to lift the A-REIT shares this week. The falls when they go ex-div are more likely to provide some entry points. Curiously some journo’s are suggesting that there might be a rally in share prices when investors receive their distributions and re-invest same. I guess we will have to wait and see.  


*Comments:*

*1.* The figures for *AOG (formerly FKP)* have been updated to reflect the new shares issued. 

*2.* The figures for *SCP* (earnings and distributions) are guideline forecasts for the period 2013 - 2014 extracted from the proposal of 5 October 2012 and updated per their release of 13 June 2013. 

*3.* Inclusion of any share details in the above table is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* The figures in the above table, particularly those based on issued shares (some of which are subject to daily changes due to active share buy-back programs), may contain errors and should not be relied upon for investment decisions. As always do your own research and good luck  .


----------



## nulla nulla (22 December 2013)

The week started poorly for the A-REIT sector. However the news on Wednesday that the US Fed would start reducing quantative easing from $85billion to $75billion per month was well recieved by international markets and Australia rallied on Thursday & Friday. The rally shouldn't be over hyped as many of the A-REIT's will go ex-div on monday 23 December and there will have been a component of dividend chasers buying up stocks for their yields on Thursday/Friday as well. The share price for the stocks that go ex-div on Monday will likely drop like a stone.




The *A-REIT Table* for closing prices as at *Friday 20 December 2013 *follows: 


*Code*  *	Closing Price	*  *Capital*  *Earnings $*  *ROE*  *Dist $*  *	Yield %	*  *P/E*  *NTA $*  *Discount to NTA*            ABP  *	2.330	* 	1,153,304,302		0.1368		5.87%		0.1650	 *	7.08%	* 	17.03		2.32		-0.43%	 ALZ  *	3.900	* 	2,255,466,213		0.3120		8.00%		0.2150	 *	5.51%	* 	12.50		3.57		-9.24%	 AOG  *	1.950	* 	975,217,347		0.0087		0.45%		0.0087	 *	0.45%	* 	224.14		3.53		44.76%	 BWP  *	2.170	* 	1,360,950,044		0.2078		9.58%		0.1405	 *	6.47%	* 	10.44		1.93		-12.44%	 CDI  *	2.500	* 	535,252,533		0.1890		7.56%		0.1780	 *	7.12%	* 	13.23		2.74		8.76%	 CFX  *	1.940	* 	5,545,076,179		0.1044		5.38%		0.1360	 *	7.01%	* 	18.58		2.04		4.90%	 CHC  *	3.700	* 	1,143,552,233		0.1829		4.94%		0.2020	 *	5.46%	* 	20.23		2.13		-73.71%	 CQR  *	3.670	* 	1,254,567,040		0.1624		4.43%		0.2680	 *	7.30%	* 	22.60		3.32		-10.54%	 CPA  *	1.265	* 	2,968,959,317		0.0619		4.89%		0.0655	 *	5.18%	* 	20.44		1.15		-10.00%	 CMW  *	0.995	* 	1,710,561,476		0.0344		3.46%		0.0730	 *	7.34%	* 	28.92		0.70		-42.14%	 DXS  *	1.045	* 	4,836,498,705		0.1091		10.44%		0.0600	 *	5.74%	* 	9.58		1.05		0.48%	 FDC  *	2.370	* 	3,383,510,509		0.1479		6.24%		0.1410	 *	5.95%	* 	16.02		2.22		-6.76%	 GMG  *	4.880	* 	8,387,464,908		0.0963		1.97%		0.1940	 *	3.98%	* 	50.67		2.69		-81.41%	 GPT  *	3.440	* 	5,830,416,915		0.3345		9.72%		0.1980	 *	5.76%	* 	10.28		3.76		8.51%	 IOF  *	3.170	* 	1,946,530,442		0.1600		5.05%		0.1775	 *	5.60%	* 	19.81		3.14		-0.96%	 MGR  *	1.720	* 	6,303,694,526		0.0406		2.36%		0.0870	 *	5.06%	* 	42.36		1.62		-6.17%	 SCP  *	1.555	* 	1,008,617,038		0.1220		7.85%		0.1080	 *	6.95%	* 	12.75		1.57		0.96%	 SGP  *	3.670	* 	8,462,105,241		0.0470		1.28%		0.2400	 *	6.54%	* 	78.09		3.50		-4.86%	 WDC  *	10.140	* 	21,430,908,394		0.6424		6.34%		0.5025	 *	4.96%	* 	15.78		6.99		-45.06%		WRT	 *	3.000	* 	8,762,980,902		0.2670		8.90%		0.1942	 *	6.47%	* 	11.24		3.47		13.54%	



The A-REIT Table comparing closing prices for the last two week follows: 



*	Share	*  *Code*  *	Closing_Price	*  *	Closing_Price	*  *	$_Change	*  *	%_Change	*    *	13-Dec-13	*  *	20-Dec-13	*    *	Abacus Property	*  ABP  *	2.210	*  *	2.330	*  *	0.120	*  *	5.43%	*  *	Australand Property	*  ALZ  *	3.690	*  *	3.900	*  *	0.210	*  *	5.69%	*  *	Aveo (FKP Stapled)	*  AOG  *	1.980	*  *	1.950	*  *	-0.030	*  *	-1.52%	*  *	BWP Trust	*  BWP  *	2.140	*  *	2.170	*  *	0.030	*  *	1.40%	*  *	Challenger Div	*  CDI  *	2.430	*  *	2.500	*  *	0.070	*  *	2.88%	*  *	CFS Retail Trust	*  CFX  *	1.905	*  *	1.940	*  *	0.035	*  *	1.84%	*  *	Charter Hall	*  CHC  *	3.480	*  *	3.700	*  *	0.220	*  *	6.32%	*  *	Charter Hall Retail	*  CQR  *	3.530	*  *	3.670	*  *	0.140	*  *	3.97%	*  *	Commonwealth_Office	*  CPA  *	1.270	*  *	1.265	*  *	-0.005	*  *	-0.39%	*  *	Cromwell	*  CMW  *	0.940	*  *	0.995	*  *	0.055	*  *	5.85%	*  *	Dexus	*  DXS  *	1.025	*  *	1.045	*  *	0.020	*  *	1.95%	*  *	Federation Centres	*  FDC  *	2.250	*  *	2.370	*  *	0.120	*  *	5.33%	*  *	Goodman Group	*  GMG  *	4.600	*  *	4.880	*  *	0.280	*  *	6.09%	*  *	GPT Group	*  GPT  *	3.430	*  *	3.440	*  *	0.010	*  *	0.29%	*  *	Investa Office	*  IOF  *	3.020	*  *	3.170	*  *	0.150	*  *	4.97%	*  *	Mirvac Group	*  MGR  *	1.615	*  *	1.720	*  *	0.105	*  *	6.50%	*  *	SCA Property Group	*  SCP  *	1.475	*  *	1.555	*  *	0.080	*  *	5.42%	*  *	Stockland Property	*  SGP  *	3.680	*  *	3.670	*  *	-0.010	*  *	-0.27%	*  *	Westfield	*  WDC  *	9.990	*  *	10.140	*  *	0.150	*  *	1.50%	*  *	Westfield Retail	* 	WRT	 *	2.900	*  *	3.000	*  *	0.100	*  *	3.45%	* 




*Comments:*

*1.* The figures for *AOG (formerly FKP)* have been updated to reflect the new shares issued. 

*2.* The figures for *SCP* (earnings and distributions) are guideline forecasts for the period 2013 - 2014 extracted from the proposal of 5 October 2012 and updated per their release of 13 June 2013. 

*3.* Inclusion of any share details in the above table is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* The figures in the above table, particularly those based on issued shares (some of which are subject to daily changes due to active share buy-back programs), may contain errors and should not be relied upon for investment decisions. As always do your own research and good luck  .


----------



## nulla nulla (29 December 2013)

As expected, on Monday the *A-REIT* shares mostly dropped by their distribution amounts trading Ex-div from the open. For some reason GPT dropped by the distribution amount during trade on Friday 20/12/13 with the initial drop on Monday being quickly reversed. WRT was a bit of a disappointment this week dropping from last weeks close of $3.00 to close out this week at $2.93 even though it didn’t go ex-div yet.




In previous years the *A-REIT *sector has rallied over the Xmas/New Year break with share prices being driven up by retail traders, trading smaller volumes, while the fund managers take their holidays. It would appear from the volume drop off and the sideways/downward share price movements this year that many of the retail traders may have decided to join the fund managers on holidays this time.

The *A-REIT Table* for closing prices for week ending *27 December 2013* follows:


*Code*  *	Closing Price	*  *Capital*  *Earnings $*  *ROE*  *Dist $*  *	Yield %	*  *P/E*  *NTA $*  *Discount to NTA*            ABP  *	2.350	* 	1,163,203,909		0.1368		5.82%		0.1650	 *	7.02%	* 	17.18		2.32		-1.29%	 ALZ  *	3.800	* 	2,197,633,746		0.3120		8.21%		0.2150	 *	5.66%	* 	12.18		3.57		-6.44%	 AOG  *	1.990	* 	995,221,805		0.0087		0.44%		0.0087	 *	0.44%	* 	228.74		3.53		43.63%	 BWP  *	2.180	* 	1,367,221,703		0.2078		9.53%		0.1405	 *	6.44%	* 	10.49		1.93		-12.95%	 CDI  *	2.470	* 	528,829,502		0.1890		7.65%		0.1780	 *	7.21%	* 	13.07		2.74		9.85%	 CFX  *	1.895	* 	5,416,453,278		0.1044		5.51%		0.1360	 *	7.18%	* 	18.15		2.04		7.11%	 CHC  *	3.650	* 	1,128,098,824		0.1829		5.01%		0.2020	 *	5.53%	* 	19.96		2.13		-71.36%	 CQR  *	3.580	* 	1,223,801,090		0.1624		4.54%		0.2680	 *	7.49%	* 	22.04		3.32		-7.83%	 CPA  *	1.240	* 	2,910,284,232		0.0619		4.99%		0.0655	 *	5.28%	* 	20.03		1.15		-7.83%	 CMW  *	0.980	* 	1,684,774,117		0.0344		3.51%		0.0730	 *	7.45%	* 	28.49		0.70		-40.00%	 DXS  *	1.005	* 	4,651,369,568		0.1091		10.86%		0.0600	 *	5.97%	* 	9.21		1.05		4.29%	 FDC  *	2.300	* 	3,283,575,600		0.1479		6.43%		0.1410	 *	6.13%	* 	15.55		2.22		-3.60%	 GMG  *	4.750	* 	8,164,028,343		0.0963		2.03%		0.1940	 *	4.08%	* 	49.33		2.69		-76.58%	 GPT  *	3.450	* 	5,847,365,801		0.3345		9.70%		0.1980	 *	5.74%	* 	10.31		3.76		8.24%	 IOF  *	3.100	* 	1,903,547,120		0.1600		5.16%		0.1775	 *	5.73%	* 	19.38		3.14		1.27%	 MGR  *	1.685	* 	6,175,421,672		0.0406		2.41%		0.0870	 *	5.16%	* 	41.50		1.62		-4.01%	 SCP  *	1.535	* 	995,644,471		0.1220		7.95%		0.1080	 *	7.04%	* 	12.58		1.57		2.23%	 SGP  *	3.620	* 	8,346,817,704		0.0470		1.30%		0.2400	 *	6.63%	* 	77.02		3.50		-3.43%	 WDC  *	10.210	* 	21,578,853,521		0.6424		6.29%		0.5025	 *	4.92%	* 	15.89		6.99		-46.07%		WRT	 *	2.930	* 	8,558,511,348		0.2670		9.11%		0.1942	 *	6.63%	* 	10.97		3.47		15.56%	


The comparison table of this weeks closing prices verus last weeks closing prices follows:


*	Share	*  *Code*  *	Closing_Price	*  *	Closing_Price	*  *	$_Change	*  *	%_Change	*    *	20-Dec-13	*  *	27-Dec-13	*    *	Abacus Property	*  ABP  *	2.330	*  *	2.350	*  *	0.020	*  *	0.86%	*  *	Australand Property	*  ALZ  *	3.900	*  *	3.800	*  *	-0.100	*  *	-2.56%	*  *	Aveo (FKP Stapled)	*  AOG  *	1.950	*  *	1.990	*  *	0.040	*  *	2.05%	*  *	BWP Trust	*  BWP  *	2.170	*  *	2.180	*  *	0.010	*  *	0.46%	*  *	Challenger Div	*  CDI  *	2.500	*  *	2.470	*  *	-0.030	*  *	-1.20%	*  *	CFS Retail Trust	*  CFX  *	1.940	*  *	1.895	*  *	-0.045	*  *	-2.32%	*  *	Charter Hall	*  CHC  *	3.700	*  *	3.650	*  *	-0.050	*  *	-1.35%	*  *	Charter Hall Retail	*  CQR  *	3.670	*  *	3.580	*  *	-0.090	*  *	-2.45%	*  *	Commonwealth_Office	*  CPA  *	1.265	*  *	1.240	*  *	-0.025	*  *	-1.98%	*  *	Cromwell	*  CMW  *	0.995	*  *	0.980	*  *	-0.015	*  *	-1.51%	*  *	Dexus	*  DXS  *	1.045	*  *	1.005	*  *	-0.040	*  *	-3.83%	*  *	Federation Centres	*  FDC  *	2.370	*  *	2.300	*  *	-0.070	*  *	-2.95%	*  *	Goodman Group	*  GMG  *	4.880	*  *	4.750	*  *	-0.130	*  *	-2.66%	*  *	GPT Group	*  GPT  *	3.440	*  *	3.450	*  *	0.010	*  *	0.29%	*  *	Investa Office	*  IOF  *	3.170	*  *	3.100	*  *	-0.070	*  *	-2.21%	*  *	Mirvac Group	*  MGR  *	1.720	*  *	1.685	*  *	-0.035	*  *	-2.03%	*  *	SCA Property Group	*  SCP  *	1.555	*  *	1.535	*  *	-0.020	*  *	-1.29%	*  *	Stockland Property	*  SGP  *	3.670	*  *	3.620	*  *	-0.050	*  *	-1.36%	*  *	Westfield	*  WDC  *	10.140	*  *	10.210	*  *	0.070	*  *	0.69%	*  *	Westfield Retail	* 	WRT	 *	3.000	*  *	2.930	*  *	-0.070	*  *	-2.33%	* 


*Comments:*

*1.* The figures for *AOG (formerly FKP)* have been updated to reflect the new shares issued. 

*2.* The figures for *SCP* (earnings and distributions) are guideline forecasts for the period 2013 - 2014 extracted from the proposal of 5 October 2012 and updated per their release of 13 June 2013. 

*3.* Inclusion of any share details in the above table is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* The figures in the above table, particularly those based on issued shares (some of which are subject to daily changes due to active share buy-back programs), may contain errors and should not be relied upon for investment decisions. As always do your own research and good luck


----------



## nulla nulla (5 January 2014)

As pointed out last week, in previous years the A-REIT sector has rallied over the Xmas/New Year break with share prices being driven up by retail traders, trading smaller volumes, while the fund managers take their holidays. After the scaled down trading volumes for the week ending 27 December 2013, I figured the Xmas rally was going to be a non event this year. However the *A-REIT* shares rallied slightly this week with most of the shares listed in the Table rising around 2%. A fairly quick rebound in share prices after going ex-div the previous week, which would have given some punters a nice little Xmas present of the dividends (to be paid in February/March) and a modest capital gain. 

Trading volumes were very thin during the week with the local fund managers still on their Xmas/New Year breaks. It will be interesting to see where the share prices go on Monday 6/1/14 when many of them return to work. Predictions for the sector for 2014 have been many and varied. I am taking a middle of the road outlook expecting the market to move pretty much sideways during 2014, with plenty of volatility and opportunities for quick trades. 




The *A-REIT Table* for closing prices for week ending *03 January 2014* follows:


*Code*  *	Closing Price	*  *Capital*  *Earnings $*  *ROE*  *Dist $*  *	Yield %	*  *P/E*  *NTA $*  *Discount to NTA*            ABP  *	2.340	* 	1,158,254,106		0.1368		5.85%		0.1650	 *	7.05%	* 	17.11		2.32		-0.86%	 ALZ  *	3.870	* 	2,238,116,473		0.3120		8.06%		0.2150	 *	5.56%	* 	12.40		3.57		-8.40%	 AOG  *	2.060	* 	1,030,229,608		0.0087		0.42%		0.0087	 *	0.42%	* 	236.78		3.53		41.64%	 BWP  *	2.220	* 	1,392,308,340		0.2078		9.36%		0.1405	 *	6.33%	* 	10.68		1.93		-15.03%	 CDI  *	2.500	* 	535,252,533		0.1890		7.56%		0.1780	 *	7.12%	* 	13.23		2.74		8.76%	 CFX  *	1.940	* 	5,545,076,179		0.1044		5.38%		0.1360	 *	7.01%	* 	18.58		2.04		4.90%	 CHC  *	3.670	* 	1,134,280,188		0.1829		4.98%		0.2020	 *	5.50%	* 	20.07		2.13		-72.30%	 CQR  *	3.620	* 	1,237,474,846		0.1624		4.49%		0.2680	 *	7.40%	* 	22.29		3.32		-9.04%	 CPA  *	1.245	* 	2,922,019,249		0.0619		4.97%		0.0655	 *	5.26%	* 	20.11		1.15		-8.26%	 CMW  *	0.980	* 	1,684,774,117		0.0344		3.51%		0.0730	 *	7.45%	* 	28.49		0.70		-40.00%	 DXS  *	1.020	* 	4,720,792,995		0.1091		10.70%		0.0600	 *	5.88%	* 	9.35		1.05		2.86%	 FDC  *	2.320	* 	3,312,128,431		0.1479		6.38%		0.1410	 *	6.08%	* 	15.69		2.22		-4.50%	 GMG  *	4.760	* 	8,181,215,771		0.0963		2.02%		0.1940	 *	4.08%	* 	49.43		2.69		-76.95%	 GPT  *	3.490	* 	5,915,161,347		0.3345		9.58%		0.1980	 *	5.67%	* 	10.43		3.76		7.18%	 IOF  *	3.160	* 	1,940,389,967		0.1600		5.06%		0.1775	 *	5.62%	* 	19.75		3.14		-0.64%	 MGR  *	1.705	* 	6,248,720,446		0.0406		2.38%		0.0870	 *	5.10%	* 	42.00		1.62		-5.25%	 SCP  *	1.545	* 	1,002,130,754		0.1220		7.90%		0.1080	 *	6.99%	* 	12.66		1.57		1.59%	 SGP  *	3.640	* 	8,392,932,719		0.0470		1.29%		0.2400	 *	6.59%	* 	77.45		3.50		-4.00%	 WDC  *	10.180	* 	21,515,448,467		0.6424		6.31%		0.5025	 *	4.94%	* 	15.85		6.99		-45.64%		WRT	 *	3.000	* 	8,762,980,902		0.2670		8.90%		0.1942	 *	6.47%	* 	11.24		3.47		13.54%	


The comparison table of this weeks closing prices versus last weeks closing prices follows:


*	Share	*  *Code*  *	Closing_Price	*  *	Closing_Price	*  *	$_Change	*  *	%_Change	*    *	27-Dec-13	*  *	3-Jan-14	*    *	Abacus Property	*  ABP  *	2.350	*  *	2.340	*  *	-0.010	*  *	-0.43%	*  *	Australand Property	*  ALZ  *	3.800	*  *	3.870	*  *	0.070	*  *	1.84%	*  *	Aveo (FKP Stapled)	*  AOG  *	1.990	*  *	2.060	*  *	0.070	*  *	3.52%	*  *	BWP Trust	*  BWP  *	2.180	*  *	2.220	*  *	0.040	*  *	1.83%	*  *	Challenger Div	*  CDI  *	2.470	*  *	2.500	*  *	0.030	*  *	1.21%	*  *	CFS Retail Trust	*  CFX  *	1.895	*  *	1.940	*  *	0.045	*  *	2.37%	*  *	Charter Hall	*  CHC  *	3.650	*  *	3.670	*  *	0.020	*  *	0.55%	*  *	Charter Hall Retail	*  CQR  *	3.580	*  *	3.620	*  *	0.040	*  *	1.12%	*  *	Commonwealth_Office	*  CPA  *	1.240	*  *	1.245	*  *	0.005	*  *	0.40%	*  *	Cromwell	*  CMW  *	0.980	*  *	0.980	*  *	0.000	*  *	0.00%	*  *	Dexus	*  DXS  *	1.005	*  *	1.020	*  *	0.015	*  *	1.49%	*  *	Federation Centres	*  FDC  *	2.300	*  *	2.320	*  *	0.020	*  *	0.87%	*  *	Goodman Group	*  GMG  *	4.750	*  *	4.760	*  *	0.010	*  *	0.21%	*  *	GPT Group	*  GPT  *	3.450	*  *	3.490	*  *	0.040	*  *	1.16%	*  *	Investa Office	*  IOF  *	3.100	*  *	3.160	*  *	0.060	*  *	1.94%	*  *	Mirvac Group	*  MGR  *	1.685	*  *	1.705	*  *	0.020	*  *	1.19%	*  *	SCA Property Group	*  SCP  *	1.535	*  *	1.545	*  *	0.010	*  *	0.65%	*  *	Stockland Property	*  SGP  *	3.620	*  *	3.640	*  *	0.020	*  *	0.55%	*  *	Westfield	*  WDC  *	10.210	*  *	10.180	*  *	-0.030	*  *	-0.29%	*  *	Westfield Retail	* 	WRT	 *	2.930	*  *	3.000	*  *	0.070	*  *	2.39%	* 



*Comments:*

*1.* The figures for *AOG (formerly FKP)* have been updated to reflect the new shares issued. 

*2.* The figures for *SCP* (earnings and distributions) are guideline forecasts for the period 2013 - 2014 extracted from the proposal of 5 October 2012 and updated per their release of 13 June 2013. 

*3.* Inclusion of any share details in the above table is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* The figures in the above table, particularly those based on issued shares (some of which are subject to daily changes due to active share buy-back programs), may contain errors and should not be relied upon for investment decisions. As always do your own research and good luck  .


----------



## nulla nulla (11 January 2014)

*A-REIT Sector:  Weekending Friday 10 January 2014-01-14*

Trading volumes this week, across the sector, continued at lower than normal levels, however the sector held ground where the All Ords dipped on the pull back linked to the weaker than expected US Jobs Report and the Chinese inflation/foreign debt reports. Any excuse for some volatility, lets kick the aussie markets around and some investors step out of resources into property.  

Trading volumes will likely improve next week when many of the fund managers return to work. 




The *A-REIT Table* for closing prices for week ending *10 January 2014* follows:


*Code*  *	Closing Price	*  *Capital*  *Earnings $*  *ROE*  *Dist $*  *	Yield %	*  *P/E*  *NTA $*  *Discount to NTA*            ABP  *	2.350	* 	1,163,203,909		0.1368		5.82%		0.1650	 *	7.02%	* 	17.18		2.32		-1.29%	 ALZ  *	3.870	* 	2,238,116,473		0.3120		8.06%		0.2150	 *	5.56%	* 	12.40		3.57		-8.40%	 AOG  *	2.250	* 	1,125,250,785		0.0087		0.39%		0.0087	 *	0.39%	* 	258.62		3.53		36.26%	 BWP  *	2.230	* 	1,398,579,999		0.2078		9.32%		0.1405	 *	6.30%	* 	10.73		1.93		-15.54%	 CDI  *	2.540	* 	543,816,573		0.1890		7.44%		0.1780	 *	7.01%	* 	13.44		2.74		7.30%	 CFX  *	1.995	* 	5,702,281,947		0.1044		5.23%		0.1360	 *	6.82%	* 	19.11		2.04		2.21%	 CHC  *	3.760	* 	1,162,096,323		0.1829		4.86%		0.2020	 *	5.37%	* 	20.56		2.13		-76.53%	 CQR  *	3.690	* 	1,261,403,917		0.1624		4.40%		0.2680	 *	7.26%	* 	22.72		3.32		-11.14%	 CPA  *	1.230	* 	2,886,814,198		0.0619		5.03%		0.0655	 *	5.33%	* 	19.87		1.15		-6.96%	 CMW  *	0.995	* 	1,710,561,476		0.0344		3.46%		0.0730	 *	7.34%	* 	28.92		0.70		-42.14%	 DXS  *	1.030	* 	4,767,075,279		0.1091		10.59%		0.0600	 *	5.83%	* 	9.44		1.05		1.90%	 FDC  *	2.380	* 	3,397,786,925		0.1479		6.21%		0.1410	 *	5.92%	* 	16.09		2.22		-7.21%	 GMG  *	4.770	* 	8,198,403,199		0.0963		2.02%		0.1940	 *	4.07%	* 	49.53		2.69		-77.32%	 GPT  *	3.590	* 	6,084,650,210		0.3345		9.32%		0.1980	 *	5.52%	* 	10.73		3.76		4.52%	 IOF  *	3.180	* 	1,952,670,916		0.1600		5.03%		0.1775	 *	5.58%	* 	19.88		3.14		-1.27%	 MGR  *	1.750	* 	6,413,642,687		0.0406		2.32%		0.0870	 *	4.97%	* 	43.10		1.62		-8.02%	 SCP  *	1.570	* 	1,018,346,462		0.1220		7.77%		0.1080	 *	6.88%	* 	12.87		1.57		0.00%	 SGP  *	3.800	* 	8,761,852,839		0.0470		1.24%		0.2400	 *	6.32%	* 	80.85		3.50		-8.57%	 WDC  *	10.080	* 	21,304,098,285		0.6424		6.37%		0.5025	 *	4.99%	* 	15.69		6.99		-44.21%		WRT	 *	3.050	* 	8,909,030,584		0.2670		8.75%		0.1942	 *	6.37%	* 	11.42		3.47		12.10%	

The comparison table of this weeks closing prices versus last weeks closing prices follows:


*	Share	*  *Code*  *	Closing_Price	*  *	Closing_Price	*  *	$_Change	*  *	%_Change	*    *	3-Jan-14	*  *	10-Jan-14	*    *	Abacus Property	*  ABP  *	2.340	*  *	2.350	*  *	0.010	*  *	0.43%	*  *	Australand Property	*  ALZ  *	3.870	*  *	3.870	*  *	0.000	*  *	0.00%	*  *	Aveo (FKP Stapled)	*  AOG  *	2.060	*  *	2.250	*  *	0.190	*  *	9.22%	*  *	BWP Trust	*  BWP  *	2.220	*  *	2.230	*  *	0.010	*  *	0.45%	*  *	Challenger Div	*  CDI  *	2.500	*  *	2.540	*  *	0.040	*  *	1.60%	*  *	CFS Retail Trust	*  CFX  *	1.940	*  *	1.995	*  *	0.055	*  *	2.84%	*  *	Charter Hall	*  CHC  *	3.670	*  *	3.760	*  *	0.090	*  *	2.45%	*  *	Charter Hall Retail	*  CQR  *	3.620	*  *	3.690	*  *	0.070	*  *	1.93%	*  *	Commonwealth_Office	*  CPA  *	1.245	*  *	1.230	*  *	-0.015	*  *	-1.20%	*  *	Cromwell	*  CMW  *	0.980	*  *	0.995	*  *	0.015	*  *	1.53%	*  *	Dexus	*  DXS  *	1.020	*  *	1.030	*  *	0.010	*  *	0.98%	*  *	Federation Centres	*  FDC  *	2.320	*  *	2.380	*  *	0.060	*  *	2.59%	*  *	Goodman Group	*  GMG  *	4.760	*  *	4.770	*  *	0.010	*  *	0.21%	*  *	GPT Group	*  GPT  *	3.490	*  *	3.590	*  *	0.100	*  *	2.87%	*  *	Investa Office	*  IOF  *	3.160	*  *	3.180	*  *	0.020	*  *	0.63%	*  *	Mirvac Group	*  MGR  *	1.705	*  *	1.750	*  *	0.045	*  *	2.64%	*  *	SCA Property Group	*  SCP  *	1.545	*  *	1.570	*  *	0.025	*  *	1.62%	*  *	Stockland Property	*  SGP  *	3.640	*  *	3.800	*  *	0.160	*  *	4.40%	*  *	Westfield	*  WDC  *	10.180	*  *	10.080	*  *	-0.100	*  *	-0.98%	*  *	Westfield Retail	* 	WRT	 *	3.000	*  *	3.050	*  *	0.050	*  *	1.67%	* 

At this time of the year, I think it is worth looking at where the A-REIT sector went in 2013 and how it finished up in comparison with 2012.  It would appear that the recovery since the lows of March 2009 peaked in May 2013 and then the sector suffered a significant correction (in line with the Aud$) ending up at year end only slightly better than where it started.




A table of the A-REIT shares comparing figures from 04 January 2013 and 04 January 2014 follows. The table includes the 12 month highs/lows as well. 


*Code*  *	Closing_Price	*  *	Closing_Price	*  *	$_Change	*  *	%_Change	*  *	Div	*  *	Return%	*  *	Highest	*  *	Lowest	*   *	4-Jan-13	*  *	3-Jan-14	*        ABP  *	2.180	*  *	2.340	*  *	0.160	*  *	7.34%	*  *	0.165	*  *	7.57%	*  *	2.510	*  *	2.095	*  ALZ  *	3.330	*  *	3.870	*  *	0.540	*  *	16.22%	*  *	0.215	*  *	6.46%	*  *	4.020	*  *	3.140	*  AOG  *	1.195	*  *	2.060	*  *	0.865	*  *	72.38%	*  *	0.009	*  *	0.73%	*  *	2.200	*  *	0.915	*  BWP  *	2.180	*  *	2.220	*  *	0.040	*  *	1.83%	*  *	0.139	*  *	6.37%	*  *	2.772	*  *	2.120	*  CDI  *	2.480	*  *	2.500	*  *	0.020	*  *	0.81%	*  *	0.000	*  *	0.00%	*  *	2.830	*  *	2.300	*  CFX  *	1.920	*  *	1.940	*  *	0.020	*  *	1.04%	*  *	0.136	*  *	7.08%	*  *	2.260	*  *	1.875	*  CHC  *	3.790	*  *	3.670	*  *	-0.120	*  *	-3.17%	*  *	0.214	*  *	5.65%	*  *	4.680	*  *	3.195	*  CQR  *	3.330	*  *	3.620	*  *	0.290	*  *	8.71%	*  *	0.272	*  *	8.15%	*  *	4.490	*  *	3.505	*  CPA  *	1.015	*  *	1.245	*  *	0.230	*  *	22.66%	*  *	0.069	*  *	6.75%	*  *	1.285	*  *	1.005	*  CMW  *	0.840	*  *	0.980	*  *	0.140	*  *	16.67%	*  *	0.074	*  *	8.77%	*  *	1.112	*  *	0.823	*  DXS  *	0.985	*  *	1.020	*  *	0.035	*  *	3.55%	*  *	0.062	*  *	6.27%	*  *	1.240	*  *	0.980	*  FDC  *	2.290	*  *	2.320	*  *	0.030	*  *	1.31%	*  *	0.150	*  *	6.55%	*  *	2.740	*  *	2.160	*  GMG  *	4.370	*  *	4.760	*  *	0.390	*  *	8.92%	*  *	0.201	*  *	4.59%	*  *	5.590	*  *	4.290	*  GPT  *	3.670	*  *	3.490	*  *	-0.180	*  *	-4.90%	*  *	0.204	*  *	5.56%	*  *	4.230	*  *	3.340	*  IOF  *	2.950	*  *	3.160	*  *	0.210	*  *	7.12%	*  *	0.183	*  *	6.19%	*  *	3.440	*  *	2.720	*  MGR  *	1.475	*  *	1.705	*  *	0.230	*  *	15.59%	*  *	0.089	*  *	6.03%	*  *	1.835	*  *	1.500	*  SCP  *	1.505	*  *	1.545	*  *	0.040	*  *	2.66%	*  *	0.110	*  *	7.31%	*  *	1.850	*  *	1.465	*  SGP  *	3.530	*  *	3.640	*  *	0.110	*  *	3.12%	*  *	0.240	*  *	6.80%	*  *	4.120	*  *	3.320	*  WDC  *	10.520	*  *	10.180	*  *	-0.340	*  *	-3.23%	*  *	0.503	*  *	4.78%	*  *	12.550	*  *	9.670	* 	WRT	 *	3.020	*  *	3.000	*  *	-0.020	*  *	-0.66%	*  *	0.194	*  *	6.43%	*  *	3.450	*  *	2.820	* 


How did your shares go? If you were an investor/long term holder you probably received a distribution of between 5-8%. If you were trading the volatility you likely did better. 

*Comments:*

*1.* The figures for *AOG (formerly FKP)* have been updated to reflect the new shares issued. 

*2.* The figures for *SCP* (earnings and distributions) are guideline forecasts for the period 2013 - 2014 extracted from the proposal of 5 October 2012 and updated per their release of 13 June 2013. 

*3.* Inclusion of any share details in the above table is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* The figures in the above table, particularly those based on issued shares (some of which are subject to daily changes due to active share buy-back programs), may contain errors and should not be relied upon for investment decisions. As always do your own research and good luck  .


----------



## nulla nulla (19 January 2014)

*A-REIT Sector:  Weekending Friday 17 January 2014 *

Trading volumes this week improved slightly on the previous two weeks. It appears that the professional Fund Managers may have returned to trading. The Australian Dollar is getting a hiding against the other currencies, not just the US$. The close on Friday at US$0.878 is the lowest the Aud$ has been since August 2010.




Surprisingly the A-REIT sector held up for the week, even recovering further from the recent falls. Is it possible that the A-REIT share prices have reached a point of intrinsic value to foreign investors, low entry points in US$ terms with 5%+ yields, that they are now returning to this sector? Or is this just a dead cat bounce? It is certainly volatile.




The *A-REIT Table* for closing prices for week ending *17 January 2014* follows:


*Code*  *	Closing Price	*  *Capital*  *Earnings $*  *ROE*  *Dist $*  *	Yield %	*  *P/E*  *NTA $*  *Discount to NTA*            ABP  *	2.300	* 	1,138,454,890		0.1368		5.95%		0.1650	 *	7.17%	* 	16.81		2.32		0.86%	 ALZ  *	3.860	* 	2,232,333,226		0.3120		8.08%		0.2150	 *	5.57%	* 	12.37		3.57		-8.12%	 AOG  *	2.250	* 	1,125,250,785		0.0087		0.39%		0.0087	 *	0.39%	* 	258.62		3.53		36.26%	 BWP  *	2.220	* 	1,392,308,340		0.2078		9.36%		0.1405	 *	6.33%	* 	10.68		1.93		-15.03%	 CDI  *	2.600	* 	556,662,634		0.1890		7.27%		0.1780	 *	6.85%	* 	13.76		2.74		5.11%	 CFX  *	1.975	* 	5,645,116,213		0.1044		5.29%		0.1360	 *	6.89%	* 	18.92		2.04		3.19%	 CHC  *	3.700	* 	1,143,552,233		0.1829		4.94%		0.2020	 *	5.46%	* 	20.23		2.13		-73.71%	 CQR  *	3.650	* 	1,247,730,162		0.1624		4.45%		0.2680	 *	7.34%	* 	22.48		3.32		-9.94%	 CPA  *	1.240	* 	2,910,284,232		0.0619		4.99%		0.0655	 *	5.28%	* 	20.03		1.15		-7.83%	 CMW  *	0.975	* 	1,676,178,330		0.0344		3.53%		0.0730	 *	7.49%	* 	28.34		0.70		-39.29%	 DXS  *	1.050	* 	4,859,639,847		0.1091		10.39%		0.0600	 *	5.71%	* 	9.62		1.05		0.00%	 FDC  *	2.360	* 	3,369,234,093		0.1479		6.27%		0.1410	 *	5.97%	* 	15.96		2.22		-6.31%	 GMG  *	4.680	* 	8,043,716,346		0.0963		2.06%		0.1940	 *	4.15%	* 	48.60		2.69		-73.98%	 GPT  *	3.650	* 	6,186,343,529		0.3345		9.16%		0.1980	 *	5.42%	* 	10.91		3.76		2.93%	 IOF  *	3.180	* 	1,952,670,916		0.1600		5.03%		0.1775	 *	5.58%	* 	19.88		3.14		-1.27%	 MGR  *	1.745	* 	6,395,317,993		0.0406		2.33%		0.0870	 *	4.99%	* 	42.98		1.62		-7.72%	 SCP  *	1.535	* 	995,644,471		0.1220		7.95%		0.1080	 *	7.04%	* 	12.58		1.57		2.23%	 SGP  *	3.800	* 	8,761,852,839		0.0470		1.24%		0.2400	 *	6.32%	* 	80.85		3.50		-8.57%	 WDC  *	10.200	* 	21,557,718,503		0.6424		6.30%		0.5025	 *	4.93%	* 	15.88		6.99		-45.92%		WRT	 *	3.080	* 	8,996,660,393		0.2670		8.67%		0.1942	 *	6.31%	* 	11.54		3.47		11.24%	


The comparison table of this weeks closing prices versus last weeks closing prices follows:


*	Share	*  *Code*  *	Closing_Price	*  *	Closing_Price	*  *	$_Change	*  *	%_Change	*    *	10-Jan-14	*  *	17-Jan-14	*    *	Abacus Property	*  ABP  *	2.350	*  *	2.300	*  *	-0.050	*  *	-2.13%	*  *	Australand Property	*  ALZ  *	3.870	*  *	3.860	*  *	-0.010	*  *	-0.26%	*  *	Aveo (FKP Stapled)	*  AOG  *	2.250	*  *	2.250	*  *	0.000	*  *	0.00%	*  *	BWP Trust	*  BWP  *	2.230	*  *	2.220	*  *	-0.010	*  *	-0.45%	*  *	Challenger Div	*  CDI  *	2.540	*  *	2.600	*  *	0.060	*  *	2.36%	*  *	CFS Retail Trust	*  CFX  *	1.995	*  *	1.975	*  *	-0.020	*  *	-1.00%	*  *	Charter Hall	*  CHC  *	3.760	*  *	3.700	*  *	-0.060	*  *	-1.60%	*  *	Charter Hall Retail	*  CQR  *	3.690	*  *	3.650	*  *	-0.040	*  *	-1.08%	*  *	Commonwealth_Office	*  CPA  *	1.230	*  *	1.240	*  *	0.010	*  *	0.81%	*  *	Cromwell	*  CMW  *	0.995	*  *	0.975	*  *	-0.020	*  *	-2.01%	*  *	Dexus	*  DXS  *	1.030	*  *	1.050	*  *	0.020	*  *	1.94%	*  *	Federation Centres	*  FDC  *	2.380	*  *	2.360	*  *	-0.020	*  *	-0.84%	*  *	Goodman Group	*  GMG  *	4.770	*  *	4.680	*  *	-0.090	*  *	-1.89%	*  *	GPT Group	*  GPT  *	3.590	*  *	3.650	*  *	0.060	*  *	1.67%	*  *	Investa Office	*  IOF  *	3.180	*  *	3.180	*  *	0.000	*  *	0.00%	*  *	Mirvac Group	*  MGR  *	1.750	*  *	1.745	*  *	-0.005	*  *	-0.29%	*  *	SCA Property Group	*  SCP  *	1.570	*  *	1.535	*  *	-0.035	*  *	-2.23%	*  *	Stockland Property	*  SGP  *	3.800	*  *	3.800	*  *	0.000	*  *	0.00%	*  *	Westfield	*  WDC  *	10.080	*  *	10.200	*  *	0.120	*  *	1.19%	*  *	Westfield Retail	* 	WRT	 *	3.050	*  *	3.080	*  *	0.030	*  *	0.98%	* 


*Comments:*

*1.* The figures for *AOG (formerly FKP)* have been updated to reflect the new shares issued. 

*2.* The figures for *SCP* (earnings and distributions) are guideline forecasts for the period 2013 - 2014 extracted from the proposal of 5 October 2012 and updated per their release of 13 June 2013. 

*3.* Inclusion of any share details in the above table is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* The figures in the above table, particularly those based on issued shares (some of which are subject to daily changes due to active share buy-back programs), may contain errors and should not be relied upon for investment decisions. As always do your own research and good luck  .


----------



## nulla nulla (25 January 2014)

*A-REIT Sector:  Weekending Friday 24 January 2014 *

The Chinese economy continues to grow at 7+% but the market gets the jitters whenever it dips 0.01% month to month. Suddenly it is the end of the world and global markets drop by 1-2% overnight on fear. A few days later the market realises that the world didn't finish and it is back to business again. Mind you Friday nights drop was fairly savage on the Dow, the Dax and the FTSE. The Aud$ crashed below US$0.87 and it would not surprise me on Tuesday if our markets open well down, particularly the A-REIT Sector, in line with the global market falls and the sell off of the Aud$. 




The A-REIT sector took a hit Thursday/Friday after holding up fairly well earlier in the week. While it may be possible that the A-REIT share prices are dropping to levels of intrinsic value to foreign investors, it is likely that they will drop to even better levels of intrinsic value next week. Seems intrinsic value matters for nought when the market movers and shakers are in sell mode. The volatility continues to provide opportunities for the brave/insane.




The *A-REIT Table* for closing prices for week ending *24 January 2014* follows:


*Code*  *	Closing Price	*  *Capital*  *Earnings $*  *ROE*  *Dist $*  *	Yield %	*  *P/E*  *NTA $*  *Discount to NTA*            ABP  *	2.270	* 	1,123,605,478		0.1368		6.03%		0.1650	 *	7.27%	* 	16.59		2.32		2.16%	 ALZ  *	3.850	* 	2,226,549,980		0.3120		8.10%		0.2150	 *	5.58%	* 	12.34		3.57		-7.84%	 AOG  *	2.150	* 	1,075,239,639		0.0087		0.40%		0.0087	 *	0.40%	* 	247.13		3.53		39.09%	 BWP  *	2.220	* 	1,392,308,340		0.2078		9.36%		0.1405	 *	6.33%	* 	10.68		1.93		-15.03%	 CDI  *	2.500	* 	535,252,533		0.1890		7.56%		0.1780	 *	7.12%	* 	13.23		2.74		8.76%	 CFX  *	1.965	* 	5,616,533,346		0.1044		5.31%		0.1360	 *	6.92%	* 	18.82		2.04		3.68%	 CHC  *	3.730	* 	1,152,824,278		0.1829		4.90%		0.2020	 *	5.42%	* 	20.39		2.13		-75.12%	 CQR  *	3.640	* 	1,244,311,723		0.1624		4.46%		0.2680	 *	7.36%	* 	22.41		3.32		-9.64%	 CPA  *	1.230	* 	2,886,814,198		0.0619		5.03%		0.0655	 *	5.33%	* 	19.87		1.15		-6.96%	 CMW  *	0.985	* 	1,693,369,903		0.0344		3.49%		0.0730	 *	7.41%	* 	28.63		0.70		-40.71%	 DXS  *	1.030	* 	4,767,075,279		0.1091		10.59%		0.0600	 *	5.83%	* 	9.44		1.05		1.90%	 FDC  *	2.310	* 	3,297,852,015		0.1479		6.40%		0.1410	 *	6.10%	* 	15.62		2.22		-4.05%	 GMG  *	4.760	* 	8,181,215,771		0.0963		2.02%		0.1940	 *	4.08%	* 	49.43		2.69		-76.95%	 GPT  *	3.570	* 	6,050,752,438		0.3345		9.37%		0.1980	 *	5.55%	* 	10.67		3.76		5.05%	 IOF  *	3.200	* 	1,964,951,866		0.1600		5.00%		0.1775	 *	5.55%	* 	20.00		3.14		-1.91%	 MGR  *	1.700	* 	6,230,395,753		0.0406		2.39%		0.0870	 *	5.12%	* 	41.87		1.62		-4.94%	 SCP  *	1.500	* 	972,942,480		0.1220		8.13%		0.1080	 *	7.20%	* 	12.30		1.57		4.46%	 SGP  *	3.700	* 	8,531,277,764		0.0470		1.27%		0.2400	 *	6.49%	* 	78.72		3.50		-5.71%	 WDC  *	9.970	* 	21,071,613,086		0.6424		6.44%		0.5025	 *	5.04%	* 	15.52		6.99		-42.63%		WRT	 *	3.020	* 	8,821,400,775		0.2670		8.84%		0.1942	 *	6.43%	* 	11.31		3.47		12.97%	


The comparison table of this weeks closing prices versus last weeks closing prices follows:


*	Share	*  *Code*  *	Closing_Price	*  *	Closing_Price	*  *	$_Change	*  *	%_Change	*    *	17-Jan-14	*  *	24-Jan-14	*    *	Abacus Property	*  ABP  *	2.300	*  *	2.270	*  *	-0.030	*  *	-1.30%	*  *	Australand Property	*  ALZ  *	3.860	*  *	3.850	*  *	-0.010	*  *	-0.26%	*  *	Aveo (FKP Stapled)	*  AOG  *	2.250	*  *	2.150	*  *	-0.100	*  *	-4.44%	*  *	BWP Trust	*  BWP  *	2.220	*  *	2.220	*  *	0.000	*  *	0.00%	*  *	Challenger Div	*  CDI  *	2.600	*  *	2.500	*  *	-0.100	*  *	-3.85%	*  *	CFS Retail Trust	*  CFX  *	1.975	*  *	1.965	*  *	-0.010	*  *	-0.51%	*  *	Charter Hall	*  CHC  *	3.700	*  *	3.730	*  *	0.030	*  *	0.81%	*  *	Charter Hall Retail	*  CQR  *	3.650	*  *	3.640	*  *	-0.010	*  *	-0.27%	*  *	Commonwealth_Office	*  CPA  *	1.240	*  *	1.230	*  *	-0.010	*  *	-0.81%	*  *	Cromwell	*  CMW  *	0.975	*  *	0.985	*  *	0.010	*  *	1.03%	*  *	Dexus	*  DXS  *	1.050	*  *	1.030	*  *	-0.020	*  *	-1.90%	*  *	Federation Centres	*  FDC  *	2.360	*  *	2.310	*  *	-0.050	*  *	-2.12%	*  *	Goodman Group	*  GMG  *	4.680	*  *	4.760	*  *	0.080	*  *	1.71%	*  *	GPT Group	*  GPT  *	3.650	*  *	3.570	*  *	-0.080	*  *	-2.19%	*  *	Investa Office	*  IOF  *	3.180	*  *	3.200	*  *	0.020	*  *	0.63%	*  *	Mirvac Group	*  MGR  *	1.745	*  *	1.700	*  *	-0.045	*  *	-2.58%	*  *	SCA Property Group	*  SCP  *	1.535	*  *	1.500	*  *	-0.035	*  *	-2.28%	*  *	Stockland Property	*  SGP  *	3.800	*  *	3.700	*  *	-0.100	*  *	-2.63%	*  *	Westfield	*  WDC  *	10.200	*  *	9.970	*  *	-0.230	*  *	-2.25%	*  *	Westfield Retail	* 	WRT	 *	3.080	*  *	3.020	*  *	-0.060	*  *	-1.95%	* 


*Comments:*

*1.* The figures for *AOG (formerly FKP)* have been updated to reflect the new shares issued. 

*2.* The figures for *SCP* (earnings and distributions) are guideline forecasts for the period 2013 - 2014 extracted from the proposal of 5 October 2012 and updated per their release of 13 June 2013. 

*3.* Inclusion of any share details in the above table is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* The figures in the above table, particularly those based on issued shares (some of which are subject to daily changes due to active share buy-back programs), may contain errors and should not be relied upon for investment decisions. As always do your own research and good luck  .


----------



## nulla nulla (1 February 2014)

*A-REIT Sector:  Weekending Friday 31 January 2014 *

This week it was the parting gift from Mr Bernake, as he leaves the US Fed, winding back the money printing (US Stimulus package) for February 2014 by a further $10 billion per month. Global markets had a panic attack particularly impacting on "emerging" markets as US investors pulled their funds out of the developing countries and took it home. All on the basis that the US economy is improving and future returns will be better in the US than they will be in the "emerging" economies. Naturally our Aud$ jigged up and down as did our A-REIT prices. Makes for day to day volatility but also a very unstable market sector and dubious reliability for trading. 




The *A-REIT Table* for closing prices for week ending *31 January 2014* follows:


*Code*  *	Closing Price	*  *Capital*  *Earnings $*  *ROE*  *Dist $*  *	Yield %	*  *P/E*  *NTA $*  *Discount to NTA*            ABP  *	2.240	* 	1,108,756,067		0.1368		6.11%		0.1650	 *	7.37%	* 	16.37		2.32		3.45%	 ALZ  *	3.880	* 	2,243,899,720		0.3120		8.04%		0.2150	 *	5.54%	* 	12.44		3.57		-8.68%	 AOG  *	2.130	* 	1,065,237,410		0.0087		0.41%		0.0087	 *	0.41%	* 	244.83		3.53		39.66%	 BWP  *	2.220	* 	1,392,308,340		0.2078		9.36%		0.1405	 *	6.33%	* 	10.68		1.93		-15.03%	 CDI  *	2.500	* 	535,252,533		0.1890		7.56%		0.1780	 *	7.12%	* 	13.23		2.74		8.76%	 CFX  *	1.940	* 	5,545,076,179		0.1044		5.38%		0.1360	 *	7.01%	* 	18.58		2.04		4.90%	 CHC  *	3.710	* 	1,146,642,914		0.1829		4.93%		0.2020	 *	5.44%	* 	20.28		2.13		-74.18%	 CQR  *	3.580	* 	1,223,801,090		0.1624		4.54%		0.2680	 *	7.49%	* 	22.04		3.32		-7.83%	 CPA  *	1.230	* 	2,886,814,198		0.0619		5.03%		0.0655	 *	5.33%	* 	19.87		1.15		-6.96%	 CMW  *	0.955	* 	1,641,795,185		0.0344		3.60%		0.0730	 *	7.64%	* 	27.76		0.70		-36.43%	 DXS  *	0.995	* 	4,605,087,284		0.1091		10.96%		0.0600	 *	6.03%	* 	9.12		1.05		5.24%	 FDC  *	2.270	* 	3,240,746,353		0.1479		6.52%		0.1410	 *	6.21%	* 	15.35		2.22		-2.25%	 GMG  *	4.670	* 	8,026,528,918		0.0963		2.06%		0.1940	 *	4.15%	* 	48.49		2.69		-73.61%	 GPT  *	3.610	* 	6,118,547,983		0.3345		9.27%		0.1980	 *	5.48%	* 	10.79		3.76		3.99%	 IOF  *	3.100	* 	1,903,547,120		0.1600		5.16%		0.1775	 *	5.73%	* 	19.38		3.14		1.27%	 MGR  *	1.670	* 	6,120,447,592		0.0406		2.43%		0.0870	 *	5.21%	* 	41.13		1.62		-3.09%	 SCP  *	1.485	* 	963,213,055		0.1220		8.22%		0.1080	 *	7.27%	* 	12.17		1.57		5.41%	 SGP  *	3.630	* 	8,369,875,212		0.0470		1.29%		0.2400	 *	6.61%	* 	77.23		3.50		-3.71%	 WDC  *	10.200	* 	21,557,718,503		0.6424		6.30%		0.5025	 *	4.93%	* 	15.88		6.99		-45.92%		WRT	 *	3.020	* 	8,821,400,775		0.2670		8.84%		0.1942	 *	6.43%	* 	11.31		3.47		12.97%	


The comparison table of this weeks closing prices versus last weeks closing prices follows:


*	Share	*  *Code*  *	Closing_Price	*  *	Closing_Price	*  *	$_Change	*  *	%_Change	*    *	24-Jan-14	*  *	31-Jan-14	*    *	Abacus Property	*  ABP  *	2.270	*  *	2.240	*  *	-0.030	*  *	-1.32%	*  *	Australand Property	*  ALZ  *	3.850	*  *	3.880	*  *	0.030	*  *	0.78%	*  *	Aveo (FKP Stapled)	*  AOG  *	2.150	*  *	2.130	*  *	-0.020	*  *	-0.93%	*  *	BWP Trust	*  BWP  *	2.220	*  *	2.220	*  *	0.000	*  *	0.00%	*  *	Challenger Div	*  CDI  *	2.500	*  *	2.500	*  *	0.000	*  *	0.00%	*  *	CFS Retail Trust	*  CFX  *	1.965	*  *	1.940	*  *	-0.025	*  *	-1.27%	*  *	Charter Hall	*  CHC  *	3.730	*  *	3.710	*  *	-0.020	*  *	-0.54%	*  *	Charter Hall Retail	*  CQR  *	3.640	*  *	3.580	*  *	-0.060	*  *	-1.65%	*  *	Commonwealth_Office	*  CPA  *	1.230	*  *	1.230	*  *	0.000	*  *	0.00%	*  *	Cromwell	*  CMW  *	0.985	*  *	0.955	*  *	-0.030	*  *	-3.05%	*  *	Dexus	*  DXS  *	1.030	*  *	0.995	*  *	-0.035	*  *	-3.40%	*  *	Federation Centres	*  FDC  *	2.310	*  *	2.270	*  *	-0.040	*  *	-1.73%	*  *	Goodman Group	*  GMG  *	4.760	*  *	4.670	*  *	-0.090	*  *	-1.89%	*  *	GPT Group	*  GPT  *	3.570	*  *	3.610	*  *	0.040	*  *	1.12%	*  *	Investa Office	*  IOF  *	3.200	*  *	3.100	*  *	-0.100	*  *	-3.13%	*  *	Mirvac Group	*  MGR  *	1.700	*  *	1.670	*  *	-0.030	*  *	-1.76%	*  *	SCA Property Group	*  SCP  *	1.500	*  *	1.485	*  *	-0.015	*  *	-1.00%	*  *	Stockland Property	*  SGP  *	3.700	*  *	3.630	*  *	-0.070	*  *	-1.89%	*  *	Westfield	*  WDC  *	9.970	*  *	10.200	*  *	0.230	*  *	2.31%	*  *	Westfield Retail	* 	WRT	 *	3.020	*  *	3.020	*  *	0.000	*  *	0.00%	* 


*Comments:*

*1.* The figures for *AOG (formerly FKP)* have been updated to reflect the new shares issued. 

*2.* The figures for *SCP* (earnings and distributions) are guideline forecasts for the period 2013 - 2014 extracted from the proposal of 5 October 2012 and updated per their release of 13 June 2013. 

*3.* Inclusion of any share details in the above table is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* The figures in the above table, particularly those based on issued shares (some of which are subject to daily changes due to active share buy-back programs), may contain errors and should not be relied upon for investment decisions. As always do your own research and good luck  .


----------



## nulla nulla (8 February 2014)

*A-REIT Sector:  Weekending Friday 07 February 2014 *

While Westfield Group and Westfield retail trust had the excuse of going ex-div on Friday to justify falls in value of around 2% for the week, I'm not sure why Australand dropped. I suspect IOF dropped mainly because I bought some and chose it in the stock picking competition . Most of the other shares in the A-Reit list managed to finish the week with small improvements. We should thank Mr Glenn Stevens and the other Board members of the RBA for holding off on "jaw boning" the Aud$ and our economy in their meeting notes for last Tuesday. 
The market reaction, across the All Ords, to a perception that our economy is also starting to transition from reliance entirely on the mining sector, was to reverse the recent down trend (for now).  The Aud$ jumped $0.02 against the US$ and on Friday the A-REIT sector opened strongly. Unfortunately the sudden rise was to much for many holders, who quickly took advantage of the price rises to cash out, sending the prices tumbling back to a couple of cents better than Thursdays closing prices. Whether it was a dead cat bounce or the start of better things remains to be seen. It was better than a poke in the eye with a blunt stick and a couple of quick trading opportunities.




The *A-REIT Table* for closing prices for week ending *)7 February 2014* follows:


*Code*  *	Closing Price	*  *Capital*  *Earnings $*  *ROE*  *Dist $*  *	Yield %	*  *P/E*  *NTA $*  *Discount to NTA*            ABP  *	2.240	* 	1,108,756,067		0.1368		6.11%		0.1650	 *	7.37%	* 	16.37		2.32		3.45%	 ALZ  *	3.800	* 	2,197,633,746		0.3120		8.21%		0.2150	 *	5.66%	* 	12.18		3.57		-6.44%	 AOG  *	2.160	* 	1,080,240,754		0.0087		0.40%		0.0087	 *	0.40%	* 	248.28		3.53		38.81%	 BWP  *	2.240	* 	1,404,851,659		0.2078		9.28%		0.1405	 *	6.27%	* 	10.78		1.93		-16.06%	 CDI  *	2.520	* 	539,534,553		0.1890		7.50%		0.1780	 *	7.06%	* 	13.33		2.74		8.03%	 CFX  *	1.930	* 	5,516,493,312		0.1044		5.41%		0.1360	 *	7.05%	* 	18.49		2.04		5.39%	 CHC  *	3.810	* 	1,177,549,732		0.1829		4.80%		0.2020	 *	5.30%	* 	20.83		2.13		-78.87%	 CQR  *	3.570	* 	1,220,382,652		0.1624		4.55%		0.2680	 *	7.51%	* 	21.98		3.32		-7.53%	 CPA  *	1.235	* 	2,898,549,215		0.0619		5.01%		0.0655	 *	5.30%	* 	19.95		1.15		-7.39%	 CMW  *	0.970	* 	1,667,582,544		0.0344		3.55%		0.0730	 *	7.53%	* 	28.20		0.70		-38.57%	 DXS  *	1.020	* 	4,720,792,995		0.1091		10.70%		0.0600	 *	5.88%	* 	9.35		1.05		2.86%	 FDC  *	2.330	* 	3,326,404,846		0.1479		6.35%		0.1410	 *	6.05%	* 	15.75		2.22		-4.95%	 GMG  *	4.780	* 	8,215,590,627		0.0963		2.01%		0.1940	 *	4.06%	* 	49.64		2.69		-77.70%	 GPT  *	3.600	* 	6,101,599,097		0.3345		9.29%		0.1980	 *	5.50%	* 	10.76		3.76		4.26%	 IOF  *	3.050	* 	1,872,844,747		0.1600		5.25%		0.1775	 *	5.82%	* 	19.06		3.14		2.87%	 MGR  *	1.685	* 	6,175,421,672		0.0406		2.41%		0.0870	 *	5.16%	* 	41.50		1.62		-4.01%	 SCP  *	1.505	* 	976,185,622		0.1220		8.11%		0.1080	 *	7.18%	* 	12.34		1.57		4.14%	 SGP  *	3.660	* 	8,439,047,734		0.0470		1.28%		0.2400	 *	6.56%	* 	77.87		3.50		-4.57%	 WDC  *	9.940	* 	21,008,208,031		0.6424		6.46%		0.5025	 *	5.06%	* 	15.47		6.99		-42.20%		WRT	 *	2.960	* 	8,646,141,157		0.2670		9.02%		0.1942	 *	6.56%	* 	11.09		3.47		14.70%	


The comparison table of this weeks closing prices versus last weeks closing prices follows:


*	Share	*  *Code*  *	Closing_Price	*  *	Closing_Price	*  *	$_Change	*  *	%_Change	*    *	31-Jan-14	*  *	7-Feb-14	*    *	Abacus Property	*  ABP  *	2.240	*  *	2.240	*  *	0.000	*  *	0.00%	*  *	Australand Property	*  ALZ  *	3.880	*  *	3.800	*  *	-0.080	*  *	-2.06%	*  *	Aveo (FKP Stapled)	*  AOG  *	2.130	*  *	2.160	*  *	0.030	*  *	1.41%	*  *	BWP Trust	*  BWP  *	2.220	*  *	2.240	*  *	0.020	*  *	0.90%	*  *	Challenger Div	*  CDI  *	2.500	*  *	2.520	*  *	0.020	*  *	0.80%	*  *	CFS Retail Trust	*  CFX  *	1.940	*  *	1.930	*  *	-0.010	*  *	-0.52%	*  *	Charter Hall	*  CHC  *	3.710	*  *	3.810	*  *	0.100	*  *	2.70%	*  *	Charter Hall Retail	*  CQR  *	3.580	*  *	3.570	*  *	-0.010	*  *	-0.28%	*  *	Commonwealth_Office	*  CPA  *	1.230	*  *	1.235	*  *	0.005	*  *	0.41%	*  *	Cromwell	*  CMW  *	0.955	*  *	0.970	*  *	0.015	*  *	1.57%	*  *	Dexus	*  DXS  *	0.995	*  *	1.020	*  *	0.025	*  *	2.51%	*  *	Federation Centres	*  FDC  *	2.270	*  *	2.330	*  *	0.060	*  *	2.64%	*  *	Goodman Group	*  GMG  *	4.670	*  *	4.780	*  *	0.110	*  *	2.36%	*  *	GPT Group	*  GPT  *	3.610	*  *	3.600	*  *	-0.010	*  *	-0.28%	*  *	Investa Office	*  IOF  *	3.100	*  *	3.050	*  *	-0.050	*  *	-1.61%	*  *	Mirvac Group	*  MGR  *	1.670	*  *	1.685	*  *	0.015	*  *	0.90%	*  *	SCA Property Group	*  SCP  *	1.485	*  *	1.505	*  *	0.020	*  *	1.35%	*  *	Stockland Property	*  SGP  *	3.630	*  *	3.660	*  *	0.030	*  *	0.83%	*  *	Westfield	*  WDC  *	10.200	*  *	9.940	*  *	-0.260	*  *	-2.55%	*  *	Westfield Retail	* 	WRT	 *	3.020	*  *	2.960	*  *	-0.060	*  *	-1.99%	* 


*Comments:*

*1.* The figures for *AOG (formerly FKP)* have been updated to reflect the new shares issued. 

*2.* The figures for *SCP* (earnings and distributions) are guideline forecasts for the period 2013 - 2014 extracted from the proposal of 5 October 2012 and updated per their release of 13 June 2013. 

*3.* Inclusion of any share details in the above table is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* The figures in the above table, particularly those based on issued shares (some of which are subject to daily changes due to active share buy-back programs), may contain errors and should not be relied upon for investment decisions. As always do your own research and good luck  .


----------



## nulla nulla (15 February 2014)

*A-REIT Sector:  Weekending Friday 14 February 2014 *

The A-REIT Sector bounced this week with a strong reversal of performance on the previous week by both Westfield Group and Westfield Retail Trust. Even Australand rebounded. Seems residential property is back in favor, for now. 

Unemployment may be up at 6% and the manufacturing sector is not rallying at the desired rate but consumer spending is improved so much with the reports from the banks showing that they are making billions off credit card spending, Woolworths is improving market share and Coles is expected to do likewise. The market reaction to the initial reports is positive pushing our All Ords higher despite all the gloom and doomers projecting an imminent correction.

It is also claimed that a few institutional shorters may have seen fit to close out some of their shorts just in case there is something to the present optimism. This likely would have helped the share price run-up.
These two articles in today's Sydney Morning Herald Business Section are worth a read also:

http://www.smh.com.au/business/property/homing-in-on-a-boom-20140214-32r3s.html
http://www.smh.com.au/business/property/early-market-signals-20140214-32r3q.html




The *A-REIT Table* for closing prices for week ending *14 February 2014* follows:


*Code*  *	Closing Price	*  *Capital*  *Earnings $*  *ROE*  *Dist $*  *	Yield %	*  *P/E*  *NTA $*  *Discount to NTA*            ABP  *	2.300	* 	1,138,454,890		0.1368		5.95%		0.1650	 *	7.17%	* 	16.81		2.32		0.86%	 ALZ  *	3.910	* 	2,261,249,460		0.3120		7.98%		0.2150	 *	5.50%	* 	12.53		3.57		-9.52%	 AOG  *	2.250	* 	1,125,250,785		0.0087		0.39%		0.0087	 *	0.39%	* 	258.62		3.53		36.26%	 BWP  *	2.320	* 	1,455,024,932		0.2078		8.96%		0.1405	 *	6.06%	* 	11.16		1.93		-20.21%	 CDI  *	2.530	* 	541,675,563		0.1890		7.47%		0.1780	 *	7.04%	* 	13.39		2.74		7.66%	 CFX  *	1.950	* 	5,573,659,046		0.1044		5.35%		0.1360	 *	6.97%	* 	18.68		2.04		4.41%	 CHC  *	3.890	* 	1,202,275,185		0.1829		4.70%		0.2020	 *	5.19%	* 	21.27		2.13		-82.63%	 CQR  *	3.660	* 	1,251,148,601		0.1624		4.44%		0.2680	 *	7.32%	* 	22.54		3.32		-10.24%	 CPA  *	1.255	* 	2,945,489,283		0.0619		4.93%		0.0655	 *	5.22%	* 	20.27		1.15		-9.13%	 CMW  *	0.985	* 	1,693,369,903		0.0344		3.49%		0.0730	 *	7.41%	* 	28.63		0.70		-40.71%	 DXS  *	1.065	* 	4,929,063,274		0.1091		10.24%		0.0600	 *	5.63%	* 	9.76		1.05		-1.43%	 FDC  *	2.370	* 	3,383,510,509		0.1479		6.24%		0.1410	 *	5.95%	* 	16.02		2.22		-6.76%	 GMG  *	4.810	* 	8,267,152,911		0.0963		2.00%		0.1940	 *	4.03%	* 	49.95		2.69		-78.81%	 GPT  *	3.660	* 	6,203,292,415		0.3345		9.14%		0.1980	 *	5.41%	* 	10.94		3.76		2.66%	 IOF  *	3.100	* 	1,903,547,120		0.1600		5.16%		0.1775	 *	5.73%	* 	19.38		3.14		1.27%	 MGR  *	1.740	* 	6,376,993,300		0.0406		2.33%		0.0870	 *	5.00%	* 	42.86		1.62		-7.41%	 SCP  *	1.555	* 	1,008,617,038		0.1220		7.85%		0.1080	 *	6.95%	* 	12.75		1.57		0.96%	 SGP  *	3.900	* 	8,992,427,913		0.0470		1.21%		0.2400	 *	6.15%	* 	82.98		3.50		-11.43%	 WDC  *	10.270	* 	21,705,663,630		0.6424		6.26%		0.5025	 *	4.89%	* 	15.99		6.99		-46.92%		WRT	 *	3.060	* 	8,938,240,520		0.2670		8.73%		0.1942	 *	6.35%	* 	11.46		3.47		11.82%	


The comparison table of this weeks closing prices versus last weeks closing prices follows:


*	Share	*  *Code*  *	Closing_Price	*  *	Closing_Price	*  *	$_Change	*  *	%_Change	*    *	7-Feb-14	*  *	14-Feb-14	*    *	Abacus Property	*  ABP  *	2.240	*  *	2.300	*  *	0.060	*  *	2.68%	*  *	Australand Property	*  ALZ  *	3.800	*  *	3.910	*  *	0.110	*  *	2.89%	*  *	Aveo (FKP Stapled)	*  AOG  *	2.160	*  *	2.250	*  *	0.090	*  *	4.17%	*  *	BWP Trust	*  BWP  *	2.240	*  *	2.320	*  *	0.080	*  *	3.57%	*  *	Challenger Div	*  CDI  *	2.520	*  *	2.530	*  *	0.010	*  *	0.40%	*  *	CFS Retail Trust	*  CFX  *	1.930	*  *	1.950	*  *	0.020	*  *	1.04%	*  *	Charter Hall	*  CHC  *	3.810	*  *	3.890	*  *	0.080	*  *	2.10%	*  *	Charter Hall Retail	*  CQR  *	3.570	*  *	3.660	*  *	0.090	*  *	2.52%	*  *	Commonwealth_Office	*  CPA  *	1.235	*  *	1.255	*  *	0.020	*  *	1.62%	*  *	Cromwell	*  CMW  *	0.970	*  *	0.985	*  *	0.015	*  *	1.55%	*  *	Dexus	*  DXS  *	1.020	*  *	1.065	*  *	0.045	*  *	4.41%	*  *	Federation Centres	*  FDC  *	2.330	*  *	2.370	*  *	0.040	*  *	1.72%	*  *	Goodman Group	*  GMG  *	4.780	*  *	4.810	*  *	0.030	*  *	0.63%	*  *	GPT Group	*  GPT  *	3.600	*  *	3.660	*  *	0.060	*  *	1.67%	*  *	Investa Office	*  IOF  *	3.050	*  *	3.100	*  *	0.050	*  *	1.64%	*  *	Mirvac Group	*  MGR  *	1.685	*  *	1.740	*  *	0.055	*  *	3.26%	*  *	SCA Property Group	*  SCP  *	1.505	*  *	1.555	*  *	0.050	*  *	3.32%	*  *	Stockland Property	*  SGP  *	3.660	*  *	3.900	*  *	0.240	*  *	6.56%	*  *	Westfield	*  WDC  *	9.940	*  *	10.270	*  *	0.330	*  *	3.32%	*  *	Westfield Retail	* 	WRT	 *	2.960	*  *	3.060	*  *	0.100	*  *	3.38%	* 


*Comments:*

*1.* The figures for *AOG (formerly FKP)* have been updated to reflect the new shares issued. 

*2.* The figures for *SCP* (earnings and distributions) are guideline forecasts for the period 2013 - 2014 extracted from the proposal of 5 October 2012 and updated per their release of 13 June 2013. 

*3.* Inclusion of any share details in the above table is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* The figures in the above table, particularly those based on issued shares (some of which are subject to daily changes due to active share buy-back programs), may contain errors and should not be relied upon for investment decisions. As always do your own research and good luck  .


----------



## nulla nulla (24 February 2014)

*A-REIT Sector:  Weekending Friday 21 February 2014 *

A stellar week as the A-REIT Sector continued the upwards surge following the strong lead from the All Ords and no doubt benefiting from the gains in the Aud$ v's the US$.  Some of the shares are getting close to their May 2013 peaks so it will be interesting to see how much higher they can go?




The *A-REIT Table* for closing prices for week ending *)14 February 2014* follows:


*Code*  *	Closing Price	*  *Capital*  *Earnings $*  *ROE*  *Dist $*  *	Yield %	*  *P/E*  *NTA $*  *Discount to NTA*            ABP  *	2.330	* 	1,153,304,302		0.1368		5.87%		0.1650	 *	7.08%	* 	17.03		2.32		-0.43%	 ALZ  *	3.850	* 	2,226,549,980		0.3120		8.10%		0.2150	 *	5.58%	* 	12.34		3.57		-7.84%	 AOG  *	2.060	* 	1,030,229,608		0.0087		0.42%		0.0087	 *	0.42%	* 	236.78		3.53		41.64%	 BWP  *	2.390	* 	1,498,926,546		0.2078		8.69%		0.1405	 *	5.88%	* 	11.50		1.93		-23.83%	 CDI  *	2.520	* 	539,534,553		0.1890		7.50%		0.1780	 *	7.06%	* 	13.33		2.74		8.03%	 CFX  *	1.990	* 	5,687,990,513		0.1044		5.25%		0.1360	 *	6.83%	* 	19.06		2.04		2.45%	 CHC  *	4.050	* 	1,251,726,093		0.1829		4.52%		0.2020	 *	4.99%	* 	22.14		2.13		-90.14%	 CQR  *	3.640	* 	1,244,311,723		0.1624		4.46%		0.2680	 *	7.36%	* 	22.41		3.32		-9.64%	 CPA  *	1.255	* 	2,945,489,283		0.0619		4.93%		0.0655	 *	5.22%	* 	20.27		1.15		-9.13%	 CMW  *	0.995	* 	1,710,561,476		0.0344		3.46%		0.0730	 *	7.34%	* 	28.92		0.70		-42.14%	 DXS  *	1.075	* 	4,975,345,558		0.1091		10.15%		0.0600	 *	5.58%	* 	9.85		1.05		-2.38%	 FDC  *	2.450	* 	3,497,721,834		0.1479		6.04%		0.1410	 *	5.76%	* 	16.57		2.22		-10.36%	 GMG  *	4.850	* 	8,335,902,624		0.0963		1.99%		0.1940	 *	4.00%	* 	50.36		2.69		-80.30%	 GPT  *	3.700	* 	6,271,087,961		0.3345		9.04%		0.1980	 *	5.35%	* 	11.06		3.76		1.60%	 IOF  *	3.160	* 	1,940,389,967		0.1600		5.06%		0.1775	 *	5.62%	* 	19.75		3.14		-0.64%	 MGR  *	1.765	* 	6,468,616,767		0.0406		2.30%		0.0870	 *	4.93%	* 	43.47		1.62		-8.95%	 SCP  *	1.600	* 	1,037,805,312		0.1220		7.63%		0.1080	 *	6.75%	* 	13.11		1.57		-1.91%	 SGP  *	3.950	* 	9,107,715,451		0.0470		1.19%		0.2400	 *	6.08%	* 	84.04		3.50		-12.86%	 WDC  *	10.530	* 	22,255,174,101		0.6424		6.10%		0.5025	 *	4.77%	* 	16.39		6.99		-50.64%		WRT	 *	3.140	* 	9,171,920,011		0.2670		8.50%		0.1942	 *	6.18%	* 	11.76		3.47		9.51%	


The comparison table of this weeks closing prices versus last weeks closing prices follows:


*	Share	*  *Code*  *	Closing_Price	*  *	Closing_Price	*  *	$_Change	*  *	%_Change	*    *	14-Feb-14	*  *	21-Feb-14	*    *	Abacus Property	*  ABP  *	2.300	*  *	2.330	*  *	0.030	*  *	1.30%	*  *	Australand Property	*  ALZ  *	3.910	*  *	3.850	*  *	-0.060	*  *	-1.53%	*  *	Aveo (FKP Stapled)	*  AOG  *	2.250	*  *	2.060	*  *	-0.190	*  *	-8.44%	*  *	BWP Trust	*  BWP  *	2.320	*  *	2.390	*  *	0.070	*  *	3.02%	*  *	Challenger Div	*  CDI  *	2.530	*  *	2.520	*  *	-0.010	*  *	-0.40%	*  *	CFS Retail Trust	*  CFX  *	1.950	*  *	1.990	*  *	0.040	*  *	2.05%	*  *	Charter Hall	*  CHC  *	3.890	*  *	4.050	*  *	0.160	*  *	4.11%	*  *	Charter Hall Retail	*  CQR  *	3.660	*  *	3.640	*  *	-0.020	*  *	-0.55%	*  *	Commonwealth_Office	*  CPA  *	1.255	*  *	1.255	*  *	0.000	*  *	0.00%	*  *	Cromwell	*  CMW  *	0.985	*  *	0.995	*  *	0.010	*  *	1.02%	*  *	Dexus	*  DXS  *	1.065	*  *	1.075	*  *	0.010	*  *	0.94%	*  *	Federation Centres	*  FDC  *	2.370	*  *	2.450	*  *	0.080	*  *	3.38%	*  *	Goodman Group	*  GMG  *	4.810	*  *	4.850	*  *	0.040	*  *	0.83%	*  *	GPT Group	*  GPT  *	3.660	*  *	3.700	*  *	0.040	*  *	1.09%	*  *	Investa Office	*  IOF  *	3.100	*  *	3.160	*  *	0.060	*  *	1.94%	*  *	Mirvac Group	*  MGR  *	1.740	*  *	1.765	*  *	0.025	*  *	1.44%	*  *	SCA Property Group	*  SCP  *	1.555	*  *	1.600	*  *	0.045	*  *	2.89%	*  *	Stockland Property	*  SGP  *	3.900	*  *	3.950	*  *	0.050	*  *	1.28%	*  *	Westfield	*  WDC  *	10.270	*  *	10.530	*  *	0.260	*  *	2.53%	*  *	Westfield Retail	* 	WRT	 *	3.060	*  *	3.140	*  *	0.080	*  *	2.61%	* 


*Comments:*

*1.* The figures for *AOG (formerly FKP)* have been updated to reflect the new shares issued. 

*2.* The figures for *SCP* (earnings and distributions) are guideline forecasts for the period 2013 - 2014 extracted from the proposal of 5 October 2012 and updated per their release of 13 June 2013. 

*3.* Inclusion of any share details in the above table is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* The figures in the above table, particularly those based on issued shares (some of which are subject to daily changes due to active share buy-back programs), may contain errors and should not be relied upon for investment decisions. As always do your own research and good luck  .


----------



## nulla nulla (2 March 2014)

*A-REIT Sector:  Weekending Friday 28 February 2014 *

The upwards surge certainly faltered as the local and international news impacted market confidence. Once again a former soviet state has grabbed the headlines and led to a verbal stoush between Russia and the US. So nothing really changed except it gave the players an opportunity to push the markets down for a few days. The A-REIT sector was no exception and the gains from the first three weeks of February were cut back in the last week.




The *A-REIT Table* for closing prices for week ending *28 February 2014* follows:


*Code*  *	Closing Price	*  *Capital*  *Earnings $*  *ROE*  *Dist $*  *	Yield %	*  *P/E*  *NTA $*  *Discount to NTA*            ABP  *	2.310	* 	1,143,404,694		0.1368		5.92%		0.1650	 *	7.14%	* 	16.89		2.32		0.43%	 ALZ  *	3.910	* 	2,261,249,460		0.3120		7.98%		0.2150	 *	5.50%	* 	12.53		3.57		-9.52%	 AOG  *	2.080	* 	1,040,231,837		0.0087		0.42%		0.0087	 *	0.42%	* 	239.08		3.53		41.08%	 BWP  *	2.380	* 	1,492,654,887		0.2078		8.73%		0.1405	 *	5.90%	* 	11.45		1.93		-23.32%	 CDI  *	2.540	* 	543,816,573		0.1890		7.44%		0.1780	 *	7.01%	* 	13.44		2.74		7.30%	 CFX  *	1.970	* 	5,630,824,779		0.1044		5.30%		0.1360	 *	6.90%	* 	18.87		2.04		3.43%	 CHC  *	4.020	* 	1,242,454,047		0.1829		4.55%		0.2020	 *	5.02%	* 	21.98		2.13		-88.73%	 CQR  *	3.600	* 	1,230,637,968		0.1624		4.51%		0.2680	 *	7.44%	* 	22.17		3.32		-8.43%	 CPA  *	1.250	* 	2,933,754,266		0.0619		4.95%		0.0655	 *	5.24%	* 	20.19		1.15		-8.70%	 CMW  *	0.990	* 	1,701,965,689		0.0344		3.47%		0.0730	 *	7.37%	* 	28.78		0.70		-41.43%	 DXS  *	1.070	* 	4,952,204,416		0.1091		10.20%		0.0600	 *	5.61%	* 	9.81		1.05		-1.90%	 FDC  *	2.390	* 	3,412,063,340		0.1479		6.19%		0.1410	 *	5.90%	* 	16.16		2.22		-7.66%	 GMG  *	4.800	* 	8,249,965,483		0.0963		2.01%		0.1940	 *	4.04%	* 	49.84		2.69		-78.44%	 GPT  *	3.720	* 	6,304,985,733		0.3345		8.99%		0.1980	 *	5.32%	* 	11.12		3.76		1.06%	 IOF  *	3.200	* 	1,964,951,866		0.1600		5.00%		0.1775	 *	5.55%	* 	20.00		3.14		-1.91%	 MGR  *	1.765	* 	6,468,616,767		0.0406		2.30%		0.0870	 *	4.93%	* 	43.47		1.62		-8.95%	 SCP  *	1.625	* 	1,054,021,020		0.1220		7.51%		0.1080	 *	6.65%	* 	13.32		1.57		-3.50%	 SGP  *	3.860	* 	8,900,197,883		0.0470		1.22%		0.2400	 *	6.22%	* 	82.13		3.50		-10.29%	 WDC  *	10.270	* 	21,705,663,630		0.6424		6.26%		0.5025	 *	4.89%	* 	15.99		6.99		-46.92%		WRT	 *	3.110	* 	9,084,290,202		0.2670		8.59%		0.1942	 *	6.24%	* 	11.65		3.47		10.37%	


The comparison table of this weeks closing prices versus last weeks closing prices follows:


*	Share	*  *Code*  *	Closing_Price	*  *	Closing_Price	*  *	$_Change	*  *	%_Change	*    *	21-Feb-14	*  *	28-Feb-14	*    *	Abacus Property	*  ABP  *	2.330	*  *	2.310	*  *	-0.020	*  *	-0.86%	*  *	Australand Property	*  ALZ  *	3.850	*  *	3.910	*  *	0.060	*  *	1.56%	*  *	Aveo (FKP Stapled)	*  AOG  *	2.060	*  *	2.080	*  *	0.020	*  *	0.97%	*  *	BWP Trust	*  BWP  *	2.390	*  *	2.380	*  *	-0.010	*  *	-0.42%	*  *	Challenger Div	*  CDI  *	2.520	*  *	2.540	*  *	0.020	*  *	0.79%	*  *	CFS Retail Trust	*  CFX  *	1.990	*  *	1.970	*  *	-0.020	*  *	-1.01%	*  *	Charter Hall	*  CHC  *	4.050	*  *	4.020	*  *	-0.030	*  *	-0.74%	*  *	Charter Hall Retail	*  CQR  *	3.640	*  *	3.600	*  *	-0.040	*  *	-1.10%	*  *	Commonwealth_Office	*  CPA  *	1.255	*  *	1.250	*  *	-0.005	*  *	-0.40%	*  *	Cromwell	*  CMW  *	0.995	*  *	0.990	*  *	-0.005	*  *	-0.50%	*  *	Dexus	*  DXS  *	1.075	*  *	1.070	*  *	-0.005	*  *	-0.47%	*  *	Federation Centres	*  FDC  *	2.450	*  *	2.390	*  *	-0.060	*  *	-2.45%	*  *	Goodman Group	*  GMG  *	4.850	*  *	4.800	*  *	-0.050	*  *	-1.03%	*  *	GPT Group	*  GPT  *	3.700	*  *	3.720	*  *	0.020	*  *	0.54%	*  *	Investa Office	*  IOF  *	3.160	*  *	3.200	*  *	0.040	*  *	1.27%	*  *	Mirvac Group	*  MGR  *	1.765	*  *	1.765	*  *	0.000	*  *	0.00%	*  *	SCA Property Group	*  SCP  *	1.600	*  *	1.625	*  *	0.025	*  *	1.56%	*  *	Stockland Property	*  SGP  *	3.950	*  *	3.860	*  *	-0.090	*  *	-2.28%	*  *	Westfield	*  WDC  *	10.530	*  *	10.270	*  *	-0.260	*  *	-2.47%	*  *	Westfield Retail	* 	WRT	 *	3.140	*  *	3.110	*  *	-0.030	*  *	-0.96%	* 


On the face of it, it wasn't a good week, particularly for those that buy and hold. However the interday action provided opportunities across the sector for the brave and/or insane looking for upward gains of 1-2% and likely the cfd traders looking for recurring falls of 1-2%.

For those interested I have included a comparison of the closing prices for *28 February 2014* versus closing prices for *31 January 2014*:


*	Share	*  *Code*  *	Closing_Price	*  *	Closing_Price	*  *	$_Change	*  *	%_Change	*    *	31-Jan-14	*  *	28-Feb-14	*    *	Abacus Property	*  ABP  *	2.240	*  *	2.310	*  *	0.070	*  *	3.12%	*  *	Australand Property	*  ALZ  *	3.880	*  *	3.910	*  *	0.030	*  *	0.77%	*  *	Aveo (FKP Stapled)	*  AOG  *	2.130	*  *	2.080	*  *	-0.050	*  *	-2.35%	*  *	BWP Trust	*  BWP  *	2.220	*  *	2.380	*  *	0.160	*  *	7.21%	*  *	Challenger Div	*  CDI  *	2.500	*  *	2.540	*  *	0.040	*  *	1.60%	*  *	CFS Retail Trust	*  CFX  *	1.940	*  *	1.970	*  *	0.030	*  *	1.55%	*  *	Charter Hall	*  CHC  *	3.710	*  *	4.020	*  *	0.310	*  *	8.36%	*  *	Charter Hall Retail	*  CQR  *	3.580	*  *	3.600	*  *	0.020	*  *	0.56%	*  *	Commonwealth_Office	*  CPA  *	1.230	*  *	1.250	*  *	0.020	*  *	1.63%	*  *	Cromwell	*  CMW  *	0.955	*  *	0.990	*  *	0.035	*  *	3.66%	*  *	Dexus	*  DXS  *	0.995	*  *	1.070	*  *	0.075	*  *	7.54%	*  *	Federation Centres	*  FDC  *	2.270	*  *	2.390	*  *	0.120	*  *	5.29%	*  *	Goodman Group	*  GMG  *	4.670	*  *	4.800	*  *	0.130	*  *	2.78%	*  *	GPT Group	*  GPT  *	3.610	*  *	3.720	*  *	0.110	*  *	3.05%	*  *	Investa Office	*  IOF  *	3.100	*  *	3.200	*  *	0.100	*  *	3.23%	*  *	Mirvac Group	*  MGR  *	1.670	*  *	1.765	*  *	0.095	*  *	5.69%	*  *	SCA Property Group	*  SCP  *	1.485	*  *	1.625	*  *	0.140	*  *	9.43%	*  *	Stockland Property	*  SGP  *	3.630	*  *	3.860	*  *	0.230	*  *	6.34%	*  *	Westfield	*  WDC  *	10.200	*  *	10.270	*  *	0.070	*  *	0.69%	*  *	Westfield Retail	* 	WRT	 *	3.020	*  *	3.110	*  *	0.090	*  *	2.98%	* 
 

*Comments:*

*1.* The figures for *AOG (formerly FKP)* have been updated to reflect the new shares issued. 

*2.* The figures for *SCP* (earnings and distributions) are guideline forecasts for the period 2013 - 2014 extracted from the proposal of 5 October 2012 and updated per their release of 13 June 2013. 

*3.* Inclusion of any share details in the above table is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* The figures in the above table, particularly those based on issued shares (some of which are subject to daily changes due to active share buy-back programs), may contain errors and should not be relied upon for investment decisions. As always do your own research and good luck  .


----------



## nulla nulla (9 March 2014)

*A-REIT Sector:  Weekending Friday 07 March 2014 *

Volatility continued in the A-REIT Sector this last week with the sector moving erratically sideways. The recent upwards surge lost momentum as the local and international news continued to impact market confidence. The argy-bargy between Russia and the rest of the world continues and the markets, particularly the European ones, are very nervous.  All because Russia wants to maintain control over access to the Black Sea.




The *A-REIT Table* for closing prices for week ending * 07 March 2014* follows:


*Code*  *	Closing Price	*  *Capital*  *Earnings $*  *ROE*  *Dist $*  *	Yield %	*  *P/E*  *NTA $*  *Discount to NTA*            ABP  *	2.380	* 	1,178,053,321		0.1368		5.75%		0.1650	 *	6.93%	* 	17.40		2.32		-2.59%	 ALZ  *	3.960	* 	2,290,165,693		0.3120		7.88%		0.2150	 *	5.43%	* 	12.69		3.57		-10.92%	 AOG  *	2.090	* 	1,045,232,951		0.0087		0.42%		0.0087	 *	0.42%	* 	240.23		3.53		40.79%	 BWP  *	2.390	* 	1,498,926,546		0.2078		8.69%		0.1405	 *	5.88%	* 	11.50		1.93		-23.83%	 CDI  *	2.600	* 	556,662,634		0.1890		7.27%		0.1780	 *	6.85%	* 	13.76		2.74		5.11%	 CFX  *	1.970	* 	5,630,824,779		0.1044		5.30%		0.1360	 *	6.90%	* 	18.87		2.04		3.43%	 CHC  *	4.070	* 	1,257,907,456		0.1829		4.49%		0.2020	 *	4.96%	* 	22.25		2.13		-91.08%	 CQR  *	3.620	* 	1,237,474,846		0.1624		4.49%		0.2680	 *	7.40%	* 	22.29		3.32		-9.04%	 CPA  *	1.260	* 	2,957,224,300		0.0619		4.91%		0.0655	 *	5.20%	* 	20.36		1.15		-9.57%	 CMW  *	1.020	* 	1,753,540,407		0.0344		3.37%		0.0730	 *	7.16%	* 	29.65		0.70		-45.71%	 DXS  *	1.080	* 	4,998,486,700		0.1091		10.10%		0.0600	 *	5.56%	* 	9.90		1.05		-2.86%	 FDC  *	2.410	* 	3,440,616,172		0.1479		6.14%		0.1410	 *	5.85%	* 	16.29		2.22		-8.56%	 GMG  *	4.800	* 	8,249,965,483		0.0963		2.01%		0.1940	 *	4.04%	* 	49.84		2.69		-78.44%	 GPT  *	3.720	* 	6,304,985,733		0.3345		8.99%		0.1980	 *	5.32%	* 	11.12		3.76		1.06%	 IOF  *	3.190	* 	1,958,811,391		0.1600		5.02%		0.1775	 *	5.56%	* 	19.94		3.14		-1.59%	 MGR  *	1.745	* 	6,395,317,993		0.0406		2.33%		0.0870	 *	4.99%	* 	42.98		1.62		-7.72%	 SCP  *	1.680	* 	1,089,695,578		0.1220		7.26%		0.1080	 *	6.43%	* 	13.77		1.57		-7.01%	 SGP  *	3.920	* 	9,038,542,928		0.0470		1.20%		0.2400	 *	6.12%	* 	83.40		3.50		-12.00%	 WDC  *	10.370	* 	21,917,013,811		0.6424		6.19%		0.5025	 *	4.85%	* 	16.14		6.99		-48.35%		WRT	 *	3.080	* 	8,996,660,393		0.2670		8.67%		0.1942	 *	6.31%	* 	11.54		3.47		11.24%	


The comparison table of this weeks closing prices versus last weeks closing prices follows:


*	Share	*  *Code*  *	Closing_Price	*  *	Closing_Price	*  *	$_Change	*  *	%_Change	*    *	28-Feb-14	*  *	7-Mar-14	*    *	Abacus Property	*  ABP  *	2.310	*  *	2.380	*  *	0.070	*  *	3.03%	*  *	Australand Property	*  ALZ  *	3.910	*  *	3.960	*  *	0.050	*  *	1.28%	*  *	Aveo (FKP Stapled)	*  AOG  *	2.080	*  *	2.090	*  *	0.010	*  *	0.48%	*  *	BWP Trust	*  BWP  *	2.380	*  *	2.390	*  *	0.010	*  *	0.42%	*  *	Challenger Div	*  CDI  *	2.540	*  *	2.600	*  *	0.060	*  *	2.36%	*  *	CFS Retail Trust	*  CFX  *	1.970	*  *	1.970	*  *	0.000	*  *	0.00%	*  *	Charter Hall	*  CHC  *	4.020	*  *	4.070	*  *	0.050	*  *	1.24%	*  *	Charter Hall Retail	*  CQR  *	3.600	*  *	3.620	*  *	0.020	*  *	0.56%	*  *	Commonwealth_Office	*  CPA  *	1.250	*  *	1.260	*  *	0.010	*  *	0.80%	*  *	Cromwell	*  CMW  *	0.990	*  *	1.020	*  *	0.030	*  *	3.03%	*  *	Dexus	*  DXS  *	1.070	*  *	1.080	*  *	0.010	*  *	0.93%	*  *	Federation Centres	*  FDC  *	2.390	*  *	2.410	*  *	0.020	*  *	0.84%	*  *	Goodman Group	*  GMG  *	4.800	*  *	4.800	*  *	0.000	*  *	0.00%	*  *	GPT Group	*  GPT  *	3.720	*  *	3.720	*  *	0.000	*  *	0.00%	*  *	Investa Office	*  IOF  *	3.200	*  *	3.190	*  *	-0.010	*  *	-0.31%	*  *	Mirvac Group	*  MGR  *	1.765	*  *	1.745	*  *	-0.020	*  *	-1.13%	*  *	SCA Property Group	*  SCP  *	1.625	*  *	1.680	*  *	0.055	*  *	3.38%	*  *	Stockland Property	*  SGP  *	3.860	*  *	3.920	*  *	0.060	*  *	1.55%	*  *	Westfield	*  WDC  *	10.270	*  *	10.370	*  *	0.100	*  *	0.97%	*  *	Westfield Retail	* 	WRT	 *	3.110	*  *	3.080	*  *	-0.030	*  *	-0.96%	* 



*Comments:*

*1.* The figures for *AOG (formerly FKP)* have been updated to reflect the new shares issued. 

*2.* The figures for *SCP* (earnings and distributions) are guideline forecasts for the period 2013 - 2014 extracted from the proposal of 5 October 2012 and updated per their release of 13 June 2013. 

*3.* Inclusion of any share details in the above table is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* The figures in the above table, particularly those based on issued shares (some of which are subject to daily changes due to active share buy-back programs), may contain errors and should not be relied upon for investment decisions. As always do your own research and good luck  .


----------



## nulla nulla (16 March 2014)

*A-REIT Sector:  Weekending Friday 14 March 2014 *

Last week the All Ords dropped around 2%. The situation in the Crimean Peninsula is intensifying with Russia thumbing its' nose at the rest of the World and the US is making a lot of huffing and puffing sounds that pretty much amounts to nothing. However the market reaction is once again to sell off stocks and move to safer assets. The sell down in Australia was intensified with the drop in the Chinese Economic performance figures for February. Iron ore prices took a big hit and the mining companies were sold off enmass (there was a good opportunity for a rebound trade on FMG if you were quick). 

The market reaction to the Chinese figures was a joke. February figures were expected to be down due to the national holidays for Chinese New Year. No doubt there will be a resurgence in March when the Chinese economy plays catch up.

The A-REIT Sector also fell this week however the fall was less than that of the All Ords possibly because some see this sector as a little safer, underpinned by yields, and buyers moved in to snap up some of the lower prices on offer. The trend for the past three weeks is not looking good, however the day to day volatility continues to provide quick trade opportunities with some degree of risk .




The *A-REIT Table* for closing prices for week ending * 14 March 2014* follows:


*Code*  *	Closing Price	*  *Capital*  *Earnings $*  *ROE*  *Dist $*  *	Yield %	*  *P/E*  *NTA $*  *Discount to NTA*            ABP  *	2.320	* 	1,148,354,498		0.1368		5.90%		0.1650	 *	7.11%	* 	16.96		2.32		0.00%	 ALZ  *	3.870	* 	2,238,116,473		0.3120		8.06%		0.2150	 *	5.56%	* 	12.40		3.57		-8.40%	 AOG  *	1.950	* 	975,217,347		0.0087		0.45%		0.0087	 *	0.45%	* 	224.14		3.53		44.76%	 BWP  *	2.310	* 	1,448,753,273		0.2078		9.00%		0.1405	 *	6.08%	* 	11.12		1.93		-19.69%	 CDI  *	2.580	* 	552,380,614		0.1890		7.33%		0.1780	 *	6.90%	* 	13.65		2.74		5.84%	 CFX  *	1.960	* 	5,602,241,912		0.1044		5.33%		0.1360	 *	6.94%	* 	18.77		2.04		3.92%	 CHC  *	4.090	* 	1,264,088,819		0.1829		4.47%		0.2020	 *	4.94%	* 	22.36		2.13		-92.02%	 CQR  *	3.600	* 	1,230,637,968		0.1624		4.51%		0.2680	 *	7.44%	* 	22.17		3.32		-8.43%	 CPA  *	1.245	* 	2,922,019,249		0.0619		4.97%		0.0655	 *	5.26%	* 	20.11		1.15		-8.26%	 CMW  *	0.995	* 	1,710,561,476		0.0344		3.46%		0.0730	 *	7.34%	* 	28.92		0.70		-42.14%	 DXS  *	1.050	* 	4,859,639,847		0.1091		10.39%		0.0600	 *	5.71%	* 	9.62		1.05		0.00%	 FDC  *	2.330	* 	3,326,404,846		0.1479		6.35%		0.1410	 *	6.05%	* 	15.75		2.22		-4.95%	 GMG  *	4.620	* 	7,940,591,778		0.0963		2.08%		0.1940	 *	4.20%	* 	47.98		2.69		-71.75%	 GPT  *	3.640	* 	6,169,394,642		0.3345		9.19%		0.1980	 *	5.44%	* 	10.88		3.76		3.19%	 IOF  *	3.200	* 	1,964,951,866		0.1600		5.00%		0.1775	 *	5.55%	* 	20.00		3.14		-1.91%	 MGR  *	1.725	* 	6,322,019,220		0.0406		2.35%		0.0870	 *	5.04%	* 	42.49		1.62		-6.48%	 SCP  *	1.640	* 	1,063,750,445		0.1220		7.44%		0.1080	 *	6.59%	* 	13.44		1.57		-4.46%	 SGP  *	3.840	* 	8,854,082,868		0.0470		1.22%		0.2400	 *	6.25%	* 	81.70		3.50		-9.71%	 WDC  *	10.230	* 	21,621,123,557		0.6424		6.28%		0.5025	 *	4.91%	* 	15.92		6.99		-46.35%		WRT	 *	3.020	* 	8,821,400,775		0.2670		8.84%		0.1942	 *	6.43%	* 	11.31		3.47		12.97%	


The comparison table of this weeks closing prices versus last weeks closing prices follows. Charter Hall and Investa Office were the only two A-REIT's on the list to finish the week ahead.


*	Share	*  *Code*  *	Closing_Price	*  *	Closing_Price	*  *	$_Change	*  *	%_Change	*    *	7-Mar-14	*  *	14-Mar-14	*    *	Abacus Property	*  ABP  *	2.380	*  *	2.320	*  *	-0.060	*  *	-2.52%	*  *	Australand Property	*  ALZ  *	3.960	*  *	3.870	*  *	-0.090	*  *	-2.27%	*  *	Aveo (FKP Stapled)	*  AOG  *	2.090	*  *	1.950	*  *	-0.140	*  *	-6.70%	*  *	BWP Trust	*  BWP  *	2.390	*  *	2.310	*  *	-0.080	*  *	-3.35%	*  *	Challenger Div	*  CDI  *	2.600	*  *	2.580	*  *	-0.020	*  *	-0.77%	*  *	CFS Retail Trust	*  CFX  *	1.970	*  *	1.960	*  *	-0.010	*  *	-0.51%	*  *	Charter Hall	*  CHC  *	4.070	*  *	4.090	*  *	0.020	*  * 0.49% *  *	Charter Hall Retail	*  CQR  *	3.620	*  *	3.600	*  *	-0.020	*  *	-0.55%	*  *	Commonwealth_Office	*  CPA  *	1.260	*  *	1.245	*  *	-0.015	*  *	-1.19%	*  *	Cromwell	*  CMW  *	1.020	*  *	0.995	*  *	-0.025	*  *	-2.45%	*  *	Dexus	*  DXS  *	1.080	*  *	1.050	*  *	-0.030	*  *	-2.78%	*  *	Federation Centres	*  FDC  *	2.410	*  *	2.330	*  *	-0.080	*  *	-3.32%	*  *	Goodman Group	*  GMG  *	4.800	*  *	4.620	*  *	-0.180	*  *	-3.75%	*  *	GPT Group	*  GPT  *	3.720	*  *	3.640	*  *	-0.080	*  *	-2.15%	*  *	Investa Office	*  IOF  *	3.190	*  *	3.200	*  *	0.010	*  * 0.31% *  *	Mirvac Group	*  MGR  *	1.745	*  *	1.725	*  *	-0.020	*  *	-1.15%	*  *	SCA Property Group	*  SCP  *	1.680	*  *	1.640	*  *	-0.040	*  *	-2.38%	*  *	Stockland Property	*  SGP  *	3.920	*  *	3.840	*  *	-0.080	*  *	-2.04%	*  *	Westfield	*  WDC  *	10.370	*  *	10.230	*  *	-0.140	*  *	-1.35%	*  *	Westfield Retail	* 	WRT	 *	3.080	*  *	3.020	*  *	-0.060	*  *	-1.95%	* 



*Comments:*

*1.* The figures for *AOG (formerly FKP)* have been updated to reflect the new shares issued. 

*2.* The figures for *SCP* (earnings and distributions) are guideline forecasts for the period 2013 - 2014 extracted from the proposal of 5 October 2012 and updated per their release of 13 June 2013. 

*3.* Inclusion of any share details in the above table is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* The figures in the above table, particularly those based on issued shares (some of which are subject to daily changes due to active share buy-back programs), may contain errors and should not be relied upon for investment decisions. As always do your own research and good luck  .


----------



## nulla nulla (23 March 2014)

*A-REIT Sector:  Weekending Friday 21 March 2014 *

Crimea has voted in a dodgy referendum to join Russia. Even though their choices did not include staying with the Ukraine, there was an 86% turnout of which 97% are alleged to have voted to join Russia (sounds a bit like the 100% turnout with 100% voting for Kim in North Korea). At any-rate the world markets appeared to lose interest and instead focused on what is happening in China and the first report from Janet Yellen to the US Congress on the state of the US Economy. Instant market falls followed by gradual recovery as the market calms down in respect of something that may or may not happen in 2015. We are compiling a diary of future "reporting" dates so we can better trade these wild oscillations.

The A-REIT Sector was a mixed bag this week, some up some down. The volatility during the week across the sector saw us exiting some trades at our exit point, only to re-enter the same share at the original entry price late in the day as the shares dropped significantly.  Good volumes on Thursday/Friday as determined sellers were matched by keen buyers, particularly in the closing auctions.




The *A-REIT Table* for closing prices for week ending * 21 March 2014* follows:


*Code*  *	Closing Price	*  *Capital*  *Earnings $*  *ROE*  *Dist $*  *	Yield %	*  *P/E*  *NTA $*  *Discount to NTA*            ABP  *	2.370	* 	1,173,103,517		0.1368		5.77%		0.1650	 *	6.96%	* 	17.32		2.32		-2.16%	 ALZ  *	4.130	* 	2,388,480,887		0.3120		7.55%		0.2150	 *	5.21%	* 	13.24		3.57		-15.69%	 AOG  *	2.060	* 	1,030,229,608		0.0087		0.42%		0.0087	 *	0.42%	* 	236.78		3.53		41.64%	 BWP  *	2.290	* 	1,436,209,955		0.2078		9.07%		0.1405	 *	6.14%	* 	11.02		1.93		-18.65%	 CDI  *	2.550	* 	545,957,583		0.1890		7.41%		0.1780	 *	6.98%	* 	13.49		2.74		6.93%	 CFX  *	1.955	* 	5,587,950,479		0.1044		5.34%		0.1360	 *	6.96%	* 	18.73		2.04		4.17%	 CHC  *	3.930	* 	1,214,637,912		0.1829		4.65%		0.2020	 *	5.14%	* 	21.49		2.13		-84.51%	 CQR  *	3.570	* 	1,220,382,652		0.1624		4.55%		0.2680	 *	7.51%	* 	21.98		3.32		-7.53%	 CPA  *	1.245	* 	2,922,019,249		0.0619		4.97%		0.0655	 *	5.26%	* 	20.11		1.15		-8.26%	 CMW  *	0.965	* 	1,658,986,758		0.0344		3.56%		0.0730	 *	7.56%	* 	28.05		0.70		-37.86%	 DXS  *	1.025	* 	4,743,934,137		0.1091		10.64%		0.0600	 *	5.85%	* 	9.40		1.05		2.38%	 FDC  *	2.360	* 	3,369,234,093		0.1479		6.27%		0.1410	 *	5.97%	* 	15.96		2.22		-6.31%	 GMG  *	4.690	* 	8,060,903,774		0.0963		2.05%		0.1940	 *	4.14%	* 	48.70		2.69		-74.35%	 GPT  *	3.710	* 	6,288,036,847		0.3345		9.02%		0.1980	 *	5.34%	* 	11.09		3.76		1.33%	 IOF  *	3.220	* 	1,977,232,815		0.1600		4.97%		0.1775	 *	5.51%	* 	20.13		3.14		-2.55%	 MGR  *	1.715	* 	6,285,369,833		0.0406		2.37%		0.0870	 *	5.07%	* 	42.24		1.62		-5.86%	 SCP  *	1.615	* 	1,047,534,737		0.1220		7.55%		0.1080	 *	6.69%	* 	13.24		1.57		-2.87%	 SGP  *	3.720	* 	8,577,392,779		0.0470		1.26%		0.2400	 *	6.45%	* 	79.15		3.50		-6.29%	 WDC  *	10.290	* 	21,747,933,666		0.6424		6.24%		0.5025	 *	4.88%	* 	16.02		6.99		-47.21%		WRT	 *	3.050	* 	8,909,030,584		0.2670		8.75%		0.1942	 *	6.37%	* 	11.42		3.47		12.10%	


The comparison table of this weeks closing prices versus last weeks closing prices follows. Australand rose the most this week after Stockland grabbed a 19.5% stake and Charter Hall took the biggest dip:


*	Share	*  *Code*  *	Closing_Price	*  *	Closing_Price	*  *	$_Change	*  *	%_Change	*    *	14-Mar-14	*  *	21-Mar-14	*    *	Abacus Property	*  ABP  *	2.320	*  *	2.370	*  *	0.050	*  *	2.16%	*  *	Australand Property	*  ALZ  *	3.870	*  *	4.130	*  *	0.260	*  * 6.72% *  *	Aveo (FKP Stapled)	*  AOG  *	1.950	*  *	2.060	*  *	0.110	*  *	5.64%	*  *	BWP Trust	*  BWP  *	2.310	*  *	2.290	*  *	-0.020	*  *	-0.87%	*  *	Challenger Div	*  CDI  *	2.580	*  *	2.550	*  *	-0.030	*  *	-1.16%	*  *	CFS Retail Trust	*  CFX  *	1.960	*  *	1.955	*  *	-0.005	*  *	-0.26%	*  *	Charter Hall	*  CHC  *	4.090	*  *	3.930	*  *	-0.160	*  * -3.91% *  *	Charter Hall Retail	*  CQR  *	3.600	*  *	3.570	*  *	-0.030	*  *	-0.83%	*  *	Commonwealth_Office	*  CPA  *	1.245	*  *	1.245	*  *	0.000	*  *	0.00%	*  *	Cromwell	*  CMW  *	0.995	*  *	0.965	*  *	-0.030	*  *	-3.02%	*  *	Dexus	*  DXS  *	1.050	*  *	1.025	*  *	-0.025	*  *	-2.38%	*  *	Federation Centres	*  FDC  *	2.330	*  *	2.360	*  *	0.030	*  *	1.29%	*  *	Goodman Group	*  GMG  *	4.620	*  *	4.690	*  *	0.070	*  *	1.52%	*  *	GPT Group	*  GPT  *	3.640	*  *	3.710	*  *	0.070	*  *	1.92%	*  *	Investa Office	*  IOF  *	3.200	*  *	3.220	*  *	0.020	*  *	0.63%	*  *	Mirvac Group	*  MGR  *	1.725	*  *	1.715	*  *	-0.010	*  *	-0.58%	*  *	SCA Property Group	*  SCP  *	1.640	*  *	1.615	*  *	-0.025	*  *	-1.52%	*  *	Stockland Property	*  SGP  *	3.840	*  *	3.720	*  *	-0.120	*  *	-3.12%	*  *	Westfield	*  WDC  *	10.230	*  *	10.290	*  *	0.060	*  *	0.59%	*  *	Westfield Retail	* 	WRT	 *	3.020	*  *	3.050	*  *	0.030	*  *	0.99%	* 



*Comments:*

*1.* The figures for *AOG (formerly FKP)* have been updated to reflect the new shares issued. 

*2.* The figures for *SCP* (earnings and distributions) are guideline forecasts for the period 2013 - 2014 extracted from the proposal of 5 October 2012 and updated per their release of 13 June 2013. 

*3.* Inclusion of any share details in the above table is not an endorsement of that share as a viable investment or possible trade.

*4.* This is the last week for the inclusion of Commonwealth Offices Trust (CPA) in this list. CPA haven been acquired by Dexus (with $1.2 billion of CPA assets to be sold to GPT). 

*Disclaimer:* The figures in the above table, particularly those based on issued shares (some of which are subject to daily changes due to active share buy-back programs), may contain errors and should not be relied upon for investment decisions. As always, do your own research and good luck  .


----------



## nulla nulla (30 March 2014)

*A-REIT Sector:  Weekending Friday 28 March 2014 *

The All Ords managed to finish higher for the week, however the A-REIT Sector continued it's down hill run. The recent highs had been getting higher and the lows had also been getting higher however the two year chart shows that the sector has broken out downwards through the recent upward support line. If it doesn't rebound from here the next support levels are 987, 980 and 960. If it doesn't hold there then there is a real risk of the A_REIT sector testing the November 2012 levels of 945.

It is possible that Glen Stevens recent jawboning of the Australian Economy is pushing up the Aud$ giving foreign investors an opportunity to exit A-REIT's at a better combo of Aud$ & Share price value.  Curiously there is a move afoot at the moment to encourage Japanese investors to consider investing in the Australian Share Market. Once again many of the A-REIT's are at relatively low prices with good yields and improved prospects (over previous years) of further gains in our improving economy. Bargains for the long term investor you might think, then again........




The *A-REIT Table* for closing prices for week ending * 28 March 2014* follows:


*Code*  *	Closing Price	*  *Capital*  *Earnings $*  *ROE*  *Dist $*  *	Yield %	*  *P/E*  *NTA $*  *Discount to NTA*            ABP  *	2.330	* 	1,153,304,302		0.1368		5.87%		0.1650	 *	7.08%	* 	17.03		2.32		-0.43%	 ALZ  *	4.250	* 	2,457,879,848		0.3120		7.34%		0.2150	 *	5.06%	* 	13.62		3.57		-19.05%	 AOG  *	1.995	* 	997,722,363		0.0087		0.44%		0.0087	 *	0.44%	* 	229.31		3.53		43.48%	 BWP  *	2.290	* 	1,436,209,955		0.2078		9.07%		0.1405	 *	6.14%	* 	11.02		1.93		-18.65%	 CDI  *	2.570	* 	550,239,603		0.1890		7.35%		0.1780	 *	6.93%	* 	13.60		2.74		6.20%	 CFX  *	1.880	* 	5,373,578,977		0.1044		5.55%		0.1360	 *	7.23%	* 	18.01		2.04		7.84%	 CHC  *	3.920	* 	1,211,547,230		0.1829		4.67%		0.2020	 *	5.15%	* 	21.43		2.13		-84.04%	 CQR  *	3.560	* 	1,216,964,213		0.1624		4.56%		0.2680	 *	7.53%	* 	21.92		3.32		-7.23%	 CMW  *	0.955	* 	1,641,795,185		0.0344		3.60%		0.0730	 *	7.64%	* 	27.76		0.70		-36.43%	 DXS  *	1.055	* 	4,882,780,989		0.1091		10.34%		0.0600	 *	5.69%	* 	9.67		1.05		-0.48%	 FDC  *	2.330	* 	3,326,404,846		0.1479		6.35%		0.1410	 *	6.05%	* 	15.75		2.22		-4.95%	 GMG  *	4.720	* 	8,112,466,058		0.0963		2.04%		0.1940	 *	4.11%	* 	49.01		2.69		-75.46%	 GPT  *	3.630	* 	6,152,445,756		0.3345		9.21%		0.1980	 *	5.45%	* 	10.85		3.76		3.46%	 IOF  *	3.210	* 	1,971,092,340		0.1600		4.98%		0.1775	 *	5.53%	* 	20.06		3.14		-2.23%	 MGR  *	1.670	* 	6,120,447,592		0.0406		2.43%		0.0870	 *	5.21%	* 	41.13		1.62		-3.09%	 SCP  *	1.630	* 	1,057,264,162		0.1220		7.48%		0.1080	 *	6.63%	* 	13.36		1.57		-3.82%	 SGP  *	3.700	* 	8,531,277,764		0.0470		1.27%		0.2400	 *	6.49%	* 	78.72		3.50		-5.71%	 WDC  *	10.280	* 	21,726,798,648		0.6424		6.25%		0.5025	 *	4.89%	* 	16.00		6.99		-47.07%		WRT	 *	2.970	* 	8,675,351,093		0.2670		8.99%		0.1942	 *	6.54%	* 	11.12		3.47		14.41%	


The comparison table of this weeks closing prices versus last weeks closing prices follows:


 *	Share	*  *Code*  *	Closing_Price	*  *	Closing_Price	*  *	$_Change	*  *	%_Change	*    *	21-Mar-14	*  *	28-Mar-14	*    *	Abacus Property	*  ABP  *	2.370	*  *	2.330	*  *	-0.040	*  *	-1.69%	*  *	Australand_Property	*  ALZ  *	4.130	*  *	4.250	*  *	0.120	*  *	2.91%	*  *	Aveo (FKP Stapled)	*  AOG  *	2.060	*  *	1.995	*  *	-0.065	*  *	-3.16%	*  *	BWP Trust	*  BWP  *	2.290	*  *	2.290	*  *	0.000	*  *	0.00%	*  *	Challenger Div	*  CDI  *	2.550	*  *	2.570	*  *	0.020	*  *	0.78%	*  *	CFS Retail Trust	*  CFX  *	1.955	*  *	1.880	*  *	-0.075	*  *	-3.84%	*  *	Charter Hall	*  CHC  *	3.930	*  *	3.920	*  *	-0.010	*  *	-0.25%	*  *	Charter Hall Retail	*  CQR  *	3.570	*  *	3.560	*  *	-0.010	*  *	-0.28%	*  *	Cromwell	*  CMW  *	0.965	*  *	0.955	*  *	-0.010	*  *	-1.04%	*  *	Dexus	*  DXS  *	1.025	*  *	1.055	*  *	0.030	*  *	2.93%	*  *	Federation Centres	*  FDC  *	2.360	*  *	2.330	*  *	-0.030	*  *	-1.27%	*  *	Goodman Group	*  GMG  *	4.690	*  *	4.720	*  *	0.030	*  *	0.64%	*  *	GPT Group	*  GPT  *	3.710	*  *	3.630	*  *	-0.080	*  *	-2.16%	*  *	Investa Office	*  IOF  *	3.220	*  *	3.210	*  *	-0.010	*  *	-0.31%	*  *	Mirvac Group	*  MGR  *	1.715	*  *	1.670	*  *	-0.045	*  *	-2.62%	*  *	SCA Property Group	*  SCP  *	1.615	*  *	1.630	*  *	0.015	*  *	0.93%	*  *	Stockland Property	*  SGP  *	3.720	*  *	3.700	*  *	-0.020	*  *	-0.54%	*  *	Westfield	*  WDC  *	10.290	*  *	10.280	*  *	-0.010	*  *	-0.10%	*  *	Westfield Retail	* 	WRT	 *	3.050	*  *	2.970	*  *	-0.080	*  *	-2.62%	* 



*Comments:*

*1.* The figures for *SCP* (earnings and distributions) are guideline forecasts for the period 2013 - 2014 extracted from the proposal of 5 October 2012 and updated per their release of 13 June 2013. 


*2.* Inclusion of any share details in the above table is not an endorsement of that share as a viable investment or possible trade.

*3.* CPA has been deleted from the lists. CPA haven been acquired by Dexus (with $1.2 billion of CPA assets to be sold to GPT). 

*Disclaimer:* The figures in the above table, particularly those based on issued shares (some of which are subject to daily changes due to active share buy-back programs), may contain errors and should not be relied upon for investment decisions. As always, do your own research and good luck  .


----------



## samgribbles (2 April 2014)

Hi Nulla Nulla,

Great thread you are maintaining, thanks.

I am struggling to find a way to trade the XPJ index.  Do you know of a CFD provider, or futures provider, that can do this for a retail trader?  (I am aware of the small ETF that seeks to track the XPJ, but it is too illiquid with too great a spread)

Cheers


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## nulla nulla (3 April 2014)

samgribbles said:


> Hi Nulla Nulla,
> 
> Great thread you are maintaining, thanks.
> 
> ...




Sorry Sam, I have no idea how you could trade the index xpj. My trading is mostly in individual A-REIT shares. I don't even try CFD's. Some of the others that trade indexes may be able to help?


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## samgribbles (3 April 2014)

Thanks.  I am looking at getting back in to trading LPTs.  I used to trade them often, scalping the volatility and capturing a 2-3% move in a few to several days, which nets out at around 5-7% if using a margin loan.  Is this the type of trades that you do on them?

I was interested in trading the XPJ so that I could hedge the trade against the index.  Looks like need a futures account with a full service broker, can’t find a CFD provider.

Interested to hear your trading approach on the LPTs

Cheers


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## coolcup (3 April 2014)

samgribbles said:


> Thanks.  I am looking at getting back in to trading LPTs.  I used to trade them often, scalping the volatility and capturing a 2-3% move in a few to several days, which nets out at around 5-7% if using a margin loan.  Is this the type of trades that you do on them?
> 
> I was interested in trading the XPJ so that I could hedge the trade against the index.  Looks like need a futures account with a full service broker, can’t find a CFD provider.
> 
> ...




WDC and WRT together represent over 50% of the index. If you trade them both you are basically replicating the index performance.


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## nulla nulla (3 April 2014)

While the above list does not include all the shares in the Property Sector it does include most of the major companies in this sector. The following list shows the companies sorted by their weighting within the list:



Share	 *Code*  *	Closing Price	* 	Issued Shares	 *Capital*  *Weighting*       	Westfield	 WDC  *	10.280	* 	2,113,501,814		21,726,798,648		25.09%		Westfield Retail		WRT	 *	2.970	* 	2,920,993,634		8,675,351,093		10.02%		Stockland_Property	 SGP  *	3.700	* 	2,305,750,747		8,531,277,764		9.85%		Goodman Group	 GMG  *	4.720	* 	1,718,742,809		8,112,466,058		9.37%		GPT Group	 GPT  *	3.630	* 	1,694,888,638		6,152,445,756		7.10%		Mirvac Group	 MGR  *	1.670	* 	3,664,938,678		6,120,447,592		7.07%		CFS Retail Trust	 CFX  *	1.880	* 	2,858,286,690		5,373,578,977		6.21%		Dexus	 DXS  *	1.055	* 	4,628,228,426		4,882,780,989		5.64%		Federation Centres	 FDC  *	2.330	* 	1,427,641,565		3,326,404,846		3.84%		Australand_Property	 ALZ  *	4.250	* 	578,324,670		2,457,879,848		2.84%		Investa Office	 IOF  *	3.210	* 	614,047,458		1,971,092,340		2.28%		Cromwell	 CMW  *	0.955	* 	1,719,157,262		1,641,795,185		1.90%		BWP Trust	 BWP  *	2.290	* 	627,165,919		1,436,209,955		1.66%		Charter Hall Retail	 CQR  *	3.560	* 	341,843,880		1,216,964,213		1.41%		Charter Hall	 CHC  *	3.920	* 	309,068,171		1,211,547,230		1.40%		Abacus Property	 ABP  *	2.330	* 	494,980,387		1,153,304,302		1.33%		SCA Property Group	 SCP  *	1.630	* 	648,628,320		1,057,264,162		1.22%		Aveo (FKP Stapled)	 AOG  *	1.995	* 	500,111,460		997,722,363		1.15%		Challenger Div	 CDI  *	2.570	* 	214,101,013		550,239,603		0.64%	          	86,595,570,925		100.00%	


 As Coolcup points out, WDC and WRT are the two largest companies in the sector representing approximately 35% of the total value of the shares in the list. Combined, these two shares can determine how the sector is seen to be tracking. However this is often misrepresents the sector as these two shares can be having an "off day/week/month" while other shares are going gangbusters. With the proposed restructure of WDC/WRT on the table, ATM both shares are trading at relatively low points. There is an air of uncertainty over the market for these two share as many fund managers are looking for a sweetener for WRT in the proposed restructure.

It is probably not appropriate to give specifics of our trades. I would not want anyone to try and emulate them. At times the exposure can be unnerving (with large draw downs) as we wait for a "bounce" in order to close out our trades. Additionally some times we enter a trade looking for a combination of capital gains and a distribution. I do not want to be responsible in any way shape or format for anyone losing money. 

I note your advice that you have traded LPT's before, in and out for 1-2%, this is pretty much what we do. We stick to the shares that have good liquidity and regularly oscillate 5+ cents. Monitoring the patterns, looking for lower risk entry points and exiting as soon as our target is hit. I'm fairly sure that others in this forum are even more proficient in trading this sector, using CFD's to short A-REIT's when they feel they have peaked (as well as buying when the share prices hit their lows).

As always, do your own research and good luck. 

P.S. The share prices are those for last Friday.


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## samgribbles (4 April 2014)

Thanks for the replies guys, much appreciated.

I've been around the block enough times, and got enough battle scars, to not blindly follow another trader's trades; I was curious "professionally" as to your approach.  And who is "we"?  Do you run an advice service on the side or some kind of trading group, Nulla Nulla?

Got the toes in the water with a long CMW at support, with a risk offset via a short IOF at resistance.  Based purely on charts, and a quick scan of broker recommendations and targets.  I usually would only trade when the chart signal aligns with fundamentals, but expect this will take me some time to fully understand each stock, so only small exposure on this one.


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## nulla nulla (4 April 2014)

samgribbles said:


> Thanks for the replies guys, much appreciated.
> 
> I've been around the block enough times, and got enough battle scars, to not blindly follow another trader's trades; I was curious "professionally" as to your approach.  And who is "we"?  Do you run an advice service on the side or some kind of trading group, Nulla Nulla?.





The Missus is the better half of "we".




samgribbles said:


> Got the toes in the water with a long CMW at support, with a risk offset via a short IOF at resistance.  Based purely on charts, and a quick scan of broker recommendations and targets.  I usually would only trade when the chart signal aligns with fundamentals, but expect this will take me some time to fully understand each stock, so only small exposure on this one.





What was your support point for CMW, resistance for IOF?

Best wishes and good luck.


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## nulla nulla (5 April 2014)

*A-REIT Sector:  Weekending Friday 04 April 2014 *

The A-REIT Sector actually climbed this week in the shadow of the All Ord's. The support line appears to have held for now. It would not surprise me to see the sector continue to move sideways and slightly upwards between now and June in the lead up to the next distribution period.

The potential for volatility still remains with all the international factors and Glen Stevens jawboning  however the underlying message is that the economy is improving. The main risk to the A-REIT Sector is further improvements in the Aud$ against the US$ may be too tempting for foreign investors looking to exit their Australian investments.




The *A-REIT Table* for closing prices for week ending * 04 April 2014* follows:


*Code*  *	Closing Price	*  *Capital*  *Earnings $*  *ROE*  *Dist $*  *	Yield %	*  *P/E*  *NTA $*  *Discount to NTA*            ABP  *	2.330	* 	1,153,304,302		0.1368		5.87%		0.1650	 *	7.08%	* 	17.03		2.32		-0.43%	 ALZ  *	4.170	* 	2,411,613,874		0.3120		7.48%		0.2150	 *	5.16%	* 	13.37		3.57		-16.81%	 AOG  *	2.030	* 	1,015,226,264		0.0087		0.43%		0.0087	 *	0.43%	* 	233.33		3.53		42.49%	 BWP  *	2.310	* 	1,448,753,273		0.2078		9.00%		0.1405	 *	6.08%	* 	11.12		1.93		-19.69%	 CDI  *	2.590	* 	554,521,624		0.1890		7.30%		0.1780	 *	6.87%	* 	13.70		2.74		5.47%	 CFX  *	1.930	* 	5,824,838,063		0.1044		5.41%		0.1360	 *	7.05%	* 	18.49		2.02		4.46%	 CHC  *	4.010	* 	1,239,363,366		0.1829		4.56%		0.2020	 *	5.04%	* 	21.92		2.13		-88.26%	 CQR  *	3.620	* 	1,237,474,846		0.1624		4.49%		0.2680	 *	7.40%	* 	22.29		3.32		-9.04%	 CMW  *	0.960	* 	1,650,390,972		0.0344		3.58%		0.0730	 *	7.60%	* 	27.91		0.70		-37.14%	 DXS  *	1.050	* 	5,648,464,315		0.1091		10.39%		0.0600	 *	5.71%	* 	9.62		1.05		0.00%	 FDC  *	2.350	* 	3,354,957,678		0.1479		6.29%		0.1410	 *	6.00%	* 	15.89		2.22		-5.86%	 GMG  *	4.700	* 	8,078,091,202		0.0963		2.05%		0.1940	 *	4.13%	* 	48.81		2.69		-74.72%	 GPT  *	3.670	* 	6,220,241,301		0.3345		9.11%		0.1980	 *	5.40%	* 	10.97		3.76		2.39%	 IOF  *	3.210	* 	1,971,092,340		0.1600		4.98%		0.1775	 *	5.53%	* 	20.06		3.14		-2.23%	 MGR  *	1.700	* 	6,230,395,753		0.0406		2.39%		0.0870	 *	5.12%	* 	41.87		1.62		-4.94%	 SCP  *	1.650	* 	1,070,236,728		0.1220		7.39%		0.1080	 *	6.55%	* 	13.52		1.57		-5.10%	 SGP  *	3.700	* 	8,531,277,764		0.0470		1.27%		0.2400	 *	6.49%	* 	78.72		3.50		-5.71%	 WDC  *	10.420	* 	22,022,688,902		0.6424		6.17%		0.5025	 *	4.82%	* 	16.22		6.99		-49.07%		WRT	 *	3.040	* 	8,879,820,647		0.2670		8.78%		0.1942	 *	6.39%	* 	11.39		3.47		12.39%	


The comparison table of this weeks closing prices versus last weeks closing prices follows:


*	Share	*  *Code*  *	Closing_Price	*  *	Closing_Price	*  *	$_Change	*  *	%_Change	*    *	28-Mar-14	*  *	4-Apr-14	*    *	Abacus Property	*  ABP  *	2.330	*  *	2.330	*  *	0.000	*  *	0.00%	*  *	Australand_Property	*  ALZ  *	4.250	*  *	4.170	*  *	-0.080	*  *	-1.88%	*  *	Aveo (FKP Stapled)	*  AOG  *	1.995	*  *	2.030	*  *	0.035	*  *	1.75%	*  *	BWP Trust	*  BWP  *	2.290	*  *	2.310	*  *	0.020	*  *	0.87%	*  *	Challenger Div	*  CDI  *	2.570	*  *	2.590	*  *	0.020	*  *	0.78%	*  *	CFS Retail Trust	*  CFX  *	1.880	*  *	1.930	*  *	0.050	*  *	2.66%	*  *	Charter Hall	*  CHC  *	3.920	*  *	4.010	*  *	0.090	*  *	2.30%	*  *	Charter Hall Retail	*  CQR  *	3.560	*  *	3.620	*  *	0.060	*  *	1.69%	*  *	Cromwell	*  CMW  *	0.955	*  *	0.960	*  *	0.005	*  *	0.52%	*  *	Dexus	*  DXS  *	1.055	*  *	1.050	*  *	-0.005	*  *	-0.47%	*  *	Federation Centres	*  FDC  *	2.330	*  *	2.350	*  *	0.020	*  *	0.86%	*  *	Goodman Group	*  GMG  *	4.720	*  *	4.700	*  *	-0.020	*  *	-0.42%	*  *	GPT Group	*  GPT  *	3.630	*  *	3.670	*  *	0.040	*  *	1.10%	*  *	Investa Office	*  IOF  *	3.210	*  *	3.210	*  *	0.000	*  *	0.00%	*  *	Mirvac Group	*  MGR  *	1.670	*  *	1.700	*  *	0.030	*  *	1.80%	*  *	SCA Property Group	*  SCP  *	1.630	*  *	1.650	*  *	0.020	*  *	1.23%	*  *	Stockland Property	*  SGP  *	3.700	*  *	3.700	*  *	0.000	*  *	0.00%	*  *	Westfield	*  WDC  *	10.280	*  *	10.420	*  *	0.140	*  *	1.36%	*  *	Westfield Retail	* 	WRT	 *	2.970	*  *	3.040	*  *	0.070	*  *	2.36%	* 

For those interested I am including the table to reflect the share price changes from 28 February to 28 March:



*	Share	*  *Code*  *	Closing_Price	*  *	Closing_Price	*  *	$_Change	*  *	%_Change	*    *	28-Feb-14	*  *	28-Mar-14	*    *	Abacus Property	*  ABP  *	2.310	*  *	2.330	*  *	0.020	*  *	0.87%	*  *	Australand_Property	*  ALZ  *	3.910	*  *	4.250	*  *	0.340	*  *	8.70%	*  *	Aveo (FKP Stapled)	*  AOG  *	2.080	*  *	1.995	*  *	-0.085	*  *	-4.09%	*  *	BWP Trust	*  BWP  *	2.380	*  *	2.290	*  *	-0.090	*  *	-3.78%	*  *	Challenger Div	*  CDI  *	2.540	*  *	2.570	*  *	0.030	*  *	1.18%	*  *	CFS Retail Trust	*  CFX  *	1.970	*  *	1.880	*  *	-0.090	*  *	-4.57%	*  *	Charter Hall	*  CHC  *	4.020	*  *	3.920	*  *	-0.100	*  *	-2.49%	*  *	Charter Hall Retail	*  CQR  *	3.600	*  *	3.560	*  *	-0.040	*  *	-1.11%	*  *	Cromwell	*  CMW  *	0.990	*  *	0.955	*  *	-0.035	*  *	-3.54%	*  *	Dexus	*  DXS  *	1.070	*  *	1.055	*  *	-0.015	*  *	-1.40%	*  *	Federation Centres	*  FDC  *	2.390	*  *	2.330	*  *	-0.060	*  *	-2.51%	*  *	Goodman Group	*  GMG  *	4.800	*  *	4.720	*  *	-0.080	*  *	-1.67%	*  *	GPT Group	*  GPT  *	3.720	*  *	3.630	*  *	-0.090	*  *	-2.42%	*  *	Investa Office	*  IOF  *	3.200	*  *	3.210	*  *	0.010	*  *	0.31%	*  *	Mirvac Group	*  MGR  *	1.765	*  *	1.670	*  *	-0.095	*  *	-5.38%	*  *	SCA Property Group	*  SCP  *	1.625	*  *	1.630	*  *	0.005	*  *	0.31%	*  *	Stockland Property	*  SGP  *	3.860	*  *	3.700	*  *	-0.160	*  *	-4.15%	*  *	Westfield	*  WDC  *	10.270	*  *	10.280	*  *	0.010	*  *	0.10%	*  *	Westfield Retail	* 	WRT	 *	3.110	*  *	2.970	*  *	-0.140	*  *	-4.50%	* 


Because of the recent interest shown in the weighting of various shares within the Listed Property Sector I have updated the early "Weighting Table" to reflect the changes in CFX and DXS. I will endeavor next week to update the rest of the list also.


Share	 *Code*  *	Closing Price	* 	Issued Shares	 *Capital*  *Weighting*       	Westfield	 WDC  *	10.420	* 	2,113,501,814		22,022,688,902		24.69%		Westfield Retail		WRT	 *	3.040	* 	2,920,993,634		8,879,820,647		9.96%		Stockland Property	 SGP  *	3.700	* 	2,305,750,747		8,531,277,764		9.57%		Goodman Group	 GMG  *	4.700	* 	1,718,742,809		8,078,091,202		9.06%		CFS Retail Trust	 CFX  *	2.590	* 	2,858,286,690		7,402,962,527		8.30%		Mirvac Group	 MGR  *	1.700	* 	3,664,938,678		6,230,395,753		6.99%		GPT Group	 GPT  *	3.670	* 	1,694,888,638		6,220,241,301		6.97%		Dexus	 DXS  *	1.050	* 	4,628,228,426		4,859,639,847		5.45%		Federation Centres	 FDC  *	2.350	* 	1,427,641,565		3,354,957,678		3.76%		Australand_Property	 ALZ  *	4.170	* 	578,324,670		2,411,613,874		2.70%		Investa Office	 IOF  *	3.210	* 	614,047,458		1,971,092,340		2.21%		Cromwell	 CMW  *	0.960	* 	1,719,157,262		1,650,390,972		1.85%		BWP Trust	 BWP  *	2.310	* 	627,165,919		1,448,753,273		1.62%		Charter Hall	 CHC  *	4.010	* 	309,068,171		1,239,363,366		1.39%		Charter Hall Retail	 CQR  *	3.620	* 	341,843,880		1,237,474,846		1.39%		Abacus Property	 ABP  *	2.330	* 	494,980,387		1,153,304,302		1.29%		SCA Property Group	 SCP  *	1.650	* 	648,628,320		1,070,236,728		1.20%		Aveo (FKP Stapled)	 AOG  *	2.030	* 	500,111,460		1,015,226,264		1.14%		Challenger Div	 CDI  *	1.930	* 	214,101,013		413,214,955		0.46%	          	89,190,746,540		100.00%	




*Comments:*

*1.* The figures for *SCP* (earnings and distributions) are guideline forecasts for the period 2013 - 2014 extracted from the proposal of 5 October 2012 and updated per their release of 13 June 2013. 

*2.* The *CFX* &* Dexus *figures have been updated in accordance with their recent restructure announcements.

*3.* *CPA* has been deleted from the lists. CPA having been acquired by Dexus (with $1.2 billion of CPA assets to be sold to GPT).

*4.* Inclusion of any share details in the above table is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* The figures in the above tables, particularly those based on Issued Shares/Capital (some of which are subject to daily changes due to active share buy-back programs), may contain errors and should not be relied upon for investment decisions. As always, do your own research and good luck  .


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## samgribbles (9 April 2014)

nulla nulla said:


> What was your support point for CMW, resistance for IOF?




I tend to define support and resistance as zones rather than fixed price levels. So

For CMW: trading in a range of 0.94-0.96 to 1.02-1.04

For IOF: support around 3.00-3.05 and resistance around 3.25-3.28


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## nulla nulla (9 April 2014)

samgribbles said:


> I tend to define support and resistance as zones rather than fixed price levels. So
> 
> For CMW: trading in a range of 0.94-0.96 to 1.02-1.04
> 
> For IOF: support around 3.00-3.05 and resistance around 3.25-3.28




Good call although you might wait a long time between drinks to buy IOF at your support level based on the recent price action. IOF (in my opinion) lately is a hard act to trade. Volumes are low while the spread can be quite attractive. Sometimes the volumes make it hard to trade a decent sized share parcel.


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## coolcup (10 April 2014)

nulla nulla said:


> *A-REIT Sector:  Weekending Friday 04 April 2014 *
> 
> 
> Because of the recent interest shown in the weighting of various shares within the Listed Property Sector I have updated the early "Weighting Table" to reflect the changes in CFX and DXS. I will endeavor next week to update the rest of the list also.




Hi Nulla Nulla

I am sure you are already across this, but the table where you have set out the weightings include stocks which are technically in the S&P ASX 200 A-REIT index (the first 17 stocks) and stocks which are not in the index but have a similar business model (eg Aveo and Challenger Diversified). The weightings also are on a total market cap basis rather than a free float basis (S&P use free float to calculate the real index weightings). The number of shares in the table for a number of the REITs also do not reflect the current shares on issue post a number of capital raisings and DRPs that those REITs have actually done. 

I just thought I'd mention this as the question raised was around getting an ETF on the A-REIT index or trying to manufacture one synthetically. The weightings you have outlined won't replicate the A-REIT index due to the differences I have outlined above which I thought would be useful to point out.

Cheers


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## nulla nulla (10 April 2014)

coolcup said:


> Hi Nulla Nulla
> 
> I am sure you are already across this, but the table where you have set out the weightings include stocks which are technically in the S&P ASX 200 A-REIT index (the first 17 stocks) and stocks which are not in the index but have a similar business model (eg Aveo and Challenger Diversified). The weightings also are on a total market cap basis rather than a free float basis (S&P use free float to calculate the real index weightings). The number of shares in the table for a number of the REITs also do not reflect the current shares on issue post a number of capital raisings and DRPs that those REITs have actually done.
> 
> ...




In last weeks post I did point out that some of the capital/shares on issue figures are out of date and I would most likely correct them in the next post. I also include a comment each week that some of the figures change due to share buy back programs and may not be accurate. I'm not sure where you are coming from in respect of Aveo (formerly FKP) and Challenger? 

The list was originally an extract from the XPJ Property Sector of the key players (that I monitor). Abacus and Challenger were added as a result of a suggestion from another poster as viable traders. I would have to check but I believe FKP was included in the A-REIT sector. What question in respect of "getting an ETF on the A-REIT index" are you referring to? 

Cheers


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## nulla nulla (11 April 2014)

coolcup said:


> ........The weightings also are on a total market cap basis rather than a free float basis (S&P use free float to calculate the real index weightings). ....Cheers




I see where you are coming from re Market Cap v's Free Float..



> Definition of 'Free-Float Methodology'
> 
> 
> A method by which the market capitalization of an index's underlying companies is calculated. Free-float methodology market capitalization is calculated by taking the equity's price and multiplying it by the number of shares readily available in the market. Instead of using all of the shares outstanding like the full-market capitalization method, the free-float method excludes locked-in shares such as those held by promoters and governments.
> ...




As I have limited means of determining the number of "locked in" shares in the companies making up the XPJ (if any) I'm happy to stick with "full market capitalization". However I will add a footnote to this effect on the weekly post.


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## coolcup (11 April 2014)

nulla nulla said:


> I'm not sure where you are coming from in respect of Aveo (formerly FKP) and Challenger?




Those two stocks are not in the official S&P ASX A-REIT 200 index which comprises only 17 stocks (the top 17 on your list). The ETF which tracks the index is available here http://www.spdrs.com.au/etf/fund/fund_detail_SLF.html , and you can see if you download the excel sheet on that page which shows its holdings it only owns 17 stocks of which FKP and CDI are not a part. 

That is not to say they are not REITs, they just don't meet the S&P requirements for being in the official index (FKP because it really doesn't have any rental properties anymore so isn't a REIT at all aside from having a stapled security structure and CDI because its free float and liquidity are too low). 



nulla nulla said:


> What question in respect of "getting an ETF on the A-REIT index" are you referring to?




I was referring to samgribbles post here: https://www.aussiestockforums.com/forums/showthread.php?t=19776&p=820305&viewfull=1#post820305
where he says:



> I am struggling to find a way to trade the XPJ index. Do you know of a CFD provider, or futures provider, that can do this for a retail trader? (I am aware of the small ETF that seeks to track the XPJ, but it is too illiquid with too great a spread)


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## coolcup (11 April 2014)

nulla nulla said:


> However I will add a footnote to this effect on the weekly post.




No worries at all. Just wanted to point it out in case anyone tried to synthetically create the index using the tables provided.


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## nulla nulla (13 April 2014)

*Re: XPJ A-REIT Sector valuation tables*

*A-REIT Sector:  Weekending Friday 11 April 2014 *

The A-REIT Sector climbed this week seemingly in defiance of global markets. There appears to have been a "flight to safety" as investors abandoned tech, finance and mining, seeking safer places to invest their funds. I suspect there may also have been an element of "shorters" closing out their positions in the A-REIT sector as share prices started to climb, contributing to further price rises. The big winner in the list (a non XPJ A-REIT Sector share) was Challenger Diversified jumping to $2.74 on the back of a take-over offer from the major shareholder. Westfield Retail Trust could only manage small gains compared to the other A-REIT shares. The proposed restructure still not currying any favor among fund managers.




The *A-REIT Table* for closing prices for week ending * 11 April 2014* follows:


*Code*  *	Closing Price	*  *Capital*  *Earnings $*  *ROE*  *Dist $*  *	Yield %	*  *P/E*  *NTA $*  *Discount to NTA*            ABP  *	2.400	* 	1,210,806,314		0.1368		5.70%		0.1650	 *	6.88%	* 	17.54		2.32		-3.45%	 ALZ  *	4.230	* 	2,449,104,553		0.3120		7.38%		0.2150	 *	5.08%	* 	13.56		3.57		-18.49%	 AOG  *	2.050	* 	1,025,228,493		0.0087		0.42%		0.0087	 *	0.42%	* 	235.63		3.53		41.93%	 BWP  *	2.420	* 	1,517,741,524		0.2078		8.59%		0.1405	 *	5.81%	* 	11.65		1.93		-25.39%	 CDI  *	2.740	* 	586,636,776		0.1890		6.90%		0.1780	 *	6.50%	* 	14.50		2.74		0.00%	 CFX  *	1.985	* 	5,990,830,858		0.1044		5.26%		0.1360	 *	6.85%	* 	19.01		2.02		1.73%	 CHC  *	4.060	* 	1,412,577,765		0.1829		4.50%		0.2020	 *	4.98%	* 	22.20		2.13		-90.61%	 CQR  *	3.660	* 	1,350,689,145		0.1624		4.44%		0.2680	 *	7.32%	* 	22.54		3.32		-10.24%	 CMW  *	0.970	* 	1,672,956,241		0.0344		3.55%		0.0730	 *	7.53%	* 	28.20		0.70		-38.57%	 DXS  *	1.085	* 	5,836,746,459		0.1091		10.06%		0.0600	 *	5.53%	* 	9.95		1.05		-3.33%	 FDC  *	2.380	* 	3,397,786,925		0.1479		6.21%		0.1410	 *	5.92%	* 	16.09		2.22		-7.21%	 GMG  *	4.880	* 	8,431,107,563		0.0963		1.97%		0.1940	 *	3.98%	* 	50.67		2.69		-81.41%	 GPT  *	3.840	* 	6,472,170,067		0.3345		8.71%		0.1980	 *	5.16%	* 	11.48		3.76		-2.13%	 IOF  *	3.280	* 	2,014,075,662		0.1600		4.88%		0.1775	 *	5.41%	* 	20.50		3.14		-4.46%	 MGR  *	1.745	* 	6,443,028,202		0.0406		2.33%		0.0870	 *	4.99%	* 	42.98		1.62		-7.72%	 SCP  *	1.705	* 	1,105,911,286		0.1220		7.16%		0.1080	 *	6.33%	* 	13.98		1.57		-8.60%	 SGP  *	3.770	* 	8,772,709,171		0.0470		1.25%		0.2400	 *	6.37%	* 	80.21		3.50		-7.71%	 WDC  *	10.570	* 	22,339,714,174		0.6424		6.08%		0.5025	 *	4.75%	* 	16.45		6.99		-51.22%		WRT	 *	3.060	* 	9,116,394,929		0.2670		8.73%		0.1942	 *	6.35%	* 	11.46		3.47		11.82%	


*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


*	Share	*  *Code*  *	Closing_Price	*  *	Closing_Price	*  *	$_Change	*  *	%_Change	*    *	4-Apr-14	*  *	11-Apr-14	*    *	Abacus Property	*  ABP  *	2.330	*  *	2.400	*  *	0.070	*  *	3.00%	*  *	Australand_Property	*  ALZ  *	4.170	*  *	4.230	*  *	0.060	*  *	1.44%	*  *	Aveo (FKP Stapled)	*  AOG  *	2.030	*  *	2.050	*  *	0.020	*  *	0.99%	*  *	BWP Trust	*  BWP  *	2.310	*  *	2.420	*  *	0.110	*  *	4.76%	*  *	Challenger Div	*  CDI  *	2.590	*  *	2.740	*  *	0.150	*  *	5.79%	*  *	CFS Retail Trust	*  CFX  *	1.930	*  *	1.985	*  *	0.055	*  *	2.85%	*  *	Charter Hall	*  CHC  *	4.010	*  *	4.060	*  *	0.050	*  *	1.25%	*  *	Charter Hall Retail	*  CQR  *	3.620	*  *	3.660	*  *	0.040	*  *	1.10%	*  *	Cromwell	*  CMW  *	0.960	*  *	0.970	*  *	0.010	*  *	1.04%	*  *	Dexus	*  DXS  *	1.050	*  *	1.085	*  *	0.035	*  *	3.33%	*  *	Federation Centres	*  FDC  *	2.350	*  *	2.380	*  *	0.030	*  *	1.28%	*  *	Goodman Group	*  GMG  *	4.700	*  *	4.880	*  *	0.180	*  *	3.83%	*  *	GPT Group	*  GPT  *	3.670	*  *	3.840	*  *	0.170	*  *	4.63%	*  *	Investa Office	*  IOF  *	3.210	*  *	3.280	*  *	0.070	*  *	2.18%	*  *	Mirvac Group	*  MGR  *	1.700	*  *	1.745	*  *	0.045	*  *	2.65%	*  *	SCA Property Group	*  SCP  *	1.650	*  *	1.705	*  *	0.055	*  *	3.33%	*  *	Stockland Property	*  SGP  *	3.700	*  *	3.770	*  *	0.070	*  *	1.89%	*  *	Westfield	*  WDC  *	10.420	*  *	10.570	*  *	0.150	*  *	1.44%	*  *	Westfield Retail	* 	WRT	 *	3.040	*  *	3.060	*  *	0.020	*  *	0.66%	* 


*Comments:*

*1.* The figures for *SCP* (earnings and distributions) are guideline forecasts for the period 2013 - 2014 extracted from the proposal of 5 October 2012 and updated per their release of 13 June 2013. 

*2.* The tables above include the shares making up the XPJ A-REIT Property Sector (plus Aveo Group and Challenger Diversified).

*3.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*4.* The "issued shares", contributing to the above tables, have been updated as at 11 April 2014 for the reported Shares on Issue for each company. These figures can change from day to day due to active share buy-back programs and other factors. The Capital figures are "market capital" based on issued shares as distinct from "free float" shares.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


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## nulla nulla (20 April 2014)

*A-REIT Sector:  Weekending Thursday 17 April 2014 *

The drop in the A-REIT Sector on Monday didn't surprise me after the spurt in the previous week, however the rebound Tuesday, Wednesday & Friday on the skinniest volumes for a while did surprise me. The "flight to safety", seemingly by retail investors as the volumes were to low for the fund managers, pushed the A-REIT prices back up by Thursdays' close to pretty much where they were the previous week. Westfield and Westfield Retail Trust were popular as well, playing catch-up with the rest of the sector.




The *A-REIT Table* for closing prices for week ending * 17 April 2014* follows:


 *Code*  *	Closing Price	*  *Capital*  *Earnings $*  *ROE*  *Dist $*  *	Yield %	*  *P/E*  *NTA $*  *Discount to NTA*            ABP  *	2.460	* 	1,241,076,472		0.1368		5.56%		0.1650	 *	6.71%	* 	17.98		2.32		-6.03%	 ALZ  *	4.270	* 	2,472,263,935		0.3120		7.31%		0.2150	 *	5.04%	* 	13.69		3.57		-19.61%	 AOG  *	2.010	* 	1,005,224,035		0.0087		0.43%		0.0087	 *	0.43%	* 	231.03		3.53		43.06%	 BWP  *	2.450	* 	1,536,556,502		0.2078		8.48%		0.1405	 *	5.73%	* 	11.79		1.93		-26.94%	 CDI  *	2.740	* 	586,636,776		0.1890		6.90%		0.1780	 *	6.50%	* 	14.50		2.74		0.00%	 CFX  *	1.975	* 	5,960,650,350		0.1044		5.29%		0.1360	 *	6.89%	* 	18.92		2.02		2.23%	 CHC  *	4.100	* 	1,426,494,788		0.1829		4.46%		0.2020	 *	4.93%	* 	22.42		2.13		-92.49%	 CQR  *	3.710	* 	1,369,141,183		0.1624		4.38%		0.2680	 *	7.22%	* 	22.84		3.32		-11.75%	 CMW  *	0.980	* 	1,690,203,213		0.0344		3.51%		0.0730	 *	7.45%	* 	28.49		0.70		-40.00%	 DXS  *	1.105	* 	5,944,336,256		0.1091		9.87%		0.0600	 *	5.43%	* 	10.13		1.05		-5.24%	 FDC  *	2.380	* 	3,397,786,925		0.1479		6.21%		0.1410	 *	5.92%	* 	16.09		2.22		-7.21%	 GMG  *	4.900	* 	8,465,661,282		0.0963		1.97%		0.1940	 *	3.96%	* 	50.88		2.69		-82.16%	 GPT  *	3.830	* 	6,455,315,458		0.3345		8.73%		0.1980	 *	5.17%	* 	11.45		3.76		-1.86%	 IOF  *	3.300	* 	2,026,356,611		0.1600		4.85%		0.1775	 *	5.38%	* 	20.63		3.14		-5.10%	 MGR  *	1.760	* 	6,498,412,399		0.0406		2.31%		0.0870	 *	4.94%	* 	43.35		1.62		-8.64%	 SCP  *	1.735	* 	1,125,370,135		0.1220		7.03%		0.1080	 *	6.22%	* 	14.22		1.57		-10.51%	 SGP  *	3.780	* 	8,795,978,957		0.0470		1.24%		0.2400	 *	6.35%	* 	80.43		3.50		-8.00%	 WDC  *	10.650	* 	22,508,794,319		0.6424		6.03%		0.5025	 *	4.72%	* 	16.58		6.99		-52.36%		WRT	 *	3.130	* 	9,324,939,911		0.2670		8.53%		0.1942	 *	6.20%	* 	11.72		3.47		9.80%	


*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


*	Share	*  *Code*  *	Closing_Price	*  *	Closing_Price	*  *	$_Change	*  *	%_Change	*    *	11-Apr-14	*  *	17-Apr-14	*    *	Abacus Property	*  ABP  *	2.400	*  *	2.460	*  *	0.060	*  *	2.50%	*  *	Australand_Property	*  ALZ  *	4.230	*  *	4.270	*  *	0.040	*  *	0.95%	*  *	Aveo (FKP Stapled)	*  AOG  *	2.050	*  *	2.010	*  *	-0.040	*  *	-1.95%	*  *	BWP Trust	*  BWP  *	2.420	*  *	2.450	*  *	0.030	*  *	1.24%	*  *	Challenger Div	*  CDI  *	2.740	*  *	2.740	*  *	0.000	*  *	0.00%	*  *	CFS Retail Trust	*  CFX  *	1.985	*  *	1.975	*  *	-0.010	*  *	-0.50%	*  *	Charter Hall	*  CHC  *	4.060	*  *	4.100	*  *	0.040	*  *	0.99%	*  *	Charter Hall Retail	*  CQR  *	3.660	*  *	3.710	*  *	0.050	*  *	1.37%	*  *	Cromwell	*  CMW  *	0.970	*  *	0.980	*  *	0.010	*  *	1.03%	*  *	Dexus	*  DXS  *	1.085	*  *	1.105	*  *	0.020	*  *	1.84%	*  *	Federation Centres	*  FDC  *	2.380	*  *	2.380	*  *	0.000	*  *	0.00%	*  *	Goodman Group	*  GMG  *	4.880	*  *	4.900	*  *	0.020	*  *	0.41%	*  *	GPT Group	*  GPT  *	3.840	*  *	3.830	*  *	-0.010	*  *	-0.26%	*  *	Investa Office	*  IOF  *	3.280	*  *	3.300	*  *	0.020	*  *	0.61%	*  *	Mirvac Group	*  MGR  *	1.745	*  *	1.760	*  *	0.015	*  *	0.86%	*  *	SCA Property Group	*  SCP  *	1.705	*  *	1.735	*  *	0.030	*  *	1.76%	*  *	Stockland Property	*  SGP  *	3.770	*  *	3.780	*  *	0.010	*  *	0.27%	*  *	Westfield	*  WDC  *	10.570	*  *	10.650	*  *	0.080	*  *	0.76%	*  *	Westfield Retail	* 	WRT	 *	3.060	*  *	3.130	*  *	0.070	*  *	2.29%	* 


*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector (plus Aveo Group and Challenger Diversified).

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 11 April 2014, can change from day to day due to active share buy-back programs and other factors.  

*3.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


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## nulla nulla (26 April 2014)

*A-REIT Sector:  Weekending Thursday 24 April 2014 *

The volumes of turnover for the last three (3) trading days were thin, however the *A-REIT Sector *share prices pushed upwards around 2% on the previous weeks close. Retail traders could be getting in early on the low prices to be well positioned for the normal distribution cycle in June. Hard to work out if this recent Sector lift is a flow on effect from increased confidence in our economy, Fund managers being on extended Easter/Anzac Day holidays or an influx of foreign capital looking to take advantage of our real estate prices.  The fun and games between Stockland and Australand reminded everyone that some A-REIT's are looking for growth through mergers and acquisitions (like Dexus & GPT carving up CPA).  Some people think Investa Office might be the next target, seeming (to me) to overlook how tightly those shares are held. Still, IOF is trading at a discount to NTA and any take-over would need to be at NTA or higher.

The two year A-REIT Sector chart shows the sector getting above recent resistance levels. Can it keep going or are we due for a retrace?




The *A-REIT Table* for closing prices for week ending * 24 April 2014* follows:


*Code*  *	Closing Price	*  *Capital*  *Earnings $*  *ROE*  *Dist $*  *	Yield %	*  *P/E*  *NTA $*  *Discount to NTA*            ABP  *	2.430	* 	1,225,941,393		0.1368		5.63%		0.1650	 *	6.79%	* 	17.76		2.32		-4.74%	 ALZ  *	4.260	* 	2,466,474,089		0.3120		7.32%		0.2150	 *	5.05%	* 	13.65		3.57		-19.33%	 AOG  *	2.050	* 	1,025,228,493		0.0087		0.42%		0.0087	 *	0.42%	* 	235.63		3.53		41.93%	 BWP  *	2.500	* 	1,567,914,798		0.2078		8.31%		0.1405	 *	5.62%	* 	12.03		1.93		-29.53%	 CDI  *	2.740	* 	586,636,776		0.1890		6.90%		0.1780	 *	6.50%	* 	14.50		2.74		0.00%	 CFX  *	2.040	* 	6,156,823,652		0.1044		5.12%		0.1360	 *	6.67%	* 	19.54		2.02		-0.99%	 CHC  *	4.190	* 	1,457,808,088		0.1829		4.37%		0.2020	 *	4.82%	* 	22.91		2.13		-96.71%	 CQR  *	3.850	* 	1,420,806,888		0.1624		4.22%		0.2680	 *	6.96%	* 	23.71		3.32		-15.96%	 CMW  *	1.000	* 	1,724,697,156		0.0344		3.44%		0.0730	 *	7.30%	* 	29.07		0.70		-42.86%	 DXS  *	1.130	* 	6,078,823,501		0.1091		9.65%		0.0600	 *	5.31%	* 	10.36		1.05		-7.62%	 FDC  *	2.440	* 	3,483,445,419		0.1479		6.06%		0.1410	 *	5.78%	* 	16.50		2.22		-9.91%	 GMG  *	4.980	* 	8,603,876,160		0.0963		1.93%		0.1940	 *	3.90%	* 	51.71		2.69		-85.13%	 GPT  *	3.890	* 	6,556,443,115		0.3345		8.60%		0.1980	 *	5.09%	* 	11.63		3.76		-3.46%	 IOF  *	3.360	* 	2,063,199,459		0.1600		4.76%		0.1775	 *	5.28%	* 	21.00		3.14		-7.01%	 MGR  *	1.750	* 	6,461,489,601		0.0406		2.32%		0.0870	 *	4.97%	* 	43.10		1.62		-8.02%	 SCP  *	1.740	* 	1,128,613,277		0.1220		7.01%		0.1080	 *	6.21%	* 	14.26		1.57		-10.83%	 SGP  *	3.830	* 	8,912,327,885		0.0470		1.23%		0.2400	 *	6.27%	* 	81.49		3.50		-9.43%	 WDC  *	10.770	* 	22,762,414,537		0.6424		5.96%		0.5025	 *	4.67%	* 	16.77		6.99		-54.08%		WRT	 *	3.200	* 	9,533,484,893		0.2670		8.34%		0.1942	 *	6.07%	* 	11.99		3.47		7.78%	


*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


*	Share	*  *Code*  *	Closing_Price	*  *	Closing_Price	*  *	$_Change	*  *	%_Change	*    *	17-Apr-14	*  *	24-Apr-14	*    *	Abacus Property	*  ABP  *	2.460	*  *	2.430	*  *	-0.030	*  *	-1.22%	*  *	Australand_Property	*  ALZ  *	4.270	*  *	4.260	*  *	-0.010	*  *	-0.23%	*  *	Aveo (FKP Stapled)	*  AOG  *	2.010	*  *	2.050	*  *	0.040	*  *	1.99%	*  *	BWP Trust	*  BWP  *	2.450	*  *	2.500	*  *	0.050	*  *	2.04%	*  *	Challenger Div	*  CDI  *	2.740	*  *	2.740	*  *	0.000	*  *	0.00%	*  *	CFS Retail Trust	*  CFX  *	1.975	*  *	2.040	*  *	0.065	*  *	3.29%	*  *	Charter Hall	*  CHC  *	4.100	*  *	4.190	*  *	0.090	*  *	2.20%	*  *	Charter Hall Retail	*  CQR  *	3.710	*  *	3.850	*  *	0.140	*  *	3.77%	*  *	Cromwell	*  CMW  *	0.980	*  *	1.000	*  *	0.020	*  *	2.04%	*  *	Dexus	*  DXS  *	1.105	*  *	1.130	*  *	0.025	*  *	2.26%	*  *	Federation Centres	*  FDC  *	2.380	*  *	2.440	*  *	0.060	*  *	2.52%	*  *	Goodman Group	*  GMG  *	4.900	*  *	4.980	*  *	0.080	*  *	1.63%	*  *	GPT Group	*  GPT  *	3.830	*  *	3.890	*  *	0.060	*  *	1.57%	*  *	Investa Office	*  IOF  *	3.300	*  *	3.360	*  *	0.060	*  *	1.82%	*  *	Mirvac Group	*  MGR  *	1.760	*  *	1.750	*  *	-0.010	*  *	-0.57%	*  *	SCA Property Group	*  SCP  *	1.735	*  *	1.740	*  *	0.005	*  *	0.29%	*  *	Stockland Property	*  SGP  *	3.780	*  *	3.830	*  *	0.050	*  *	1.32%	*  *	Westfield	*  WDC  *	10.650	*  *	10.770	*  *	0.120	*  *	1.13%	*  *	Westfield Retail	* 	WRT	 *	3.130	*  *	3.200	*  *	0.070	*  *	2.24%	* 


*Comments:*


*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector (plus Aveo Group and Challenger Diversified).

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 11 April 2014, can change from day to day due to active share buy-back programs and other factors.  

*3.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


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## VSntchr (26 April 2014)

Enjoy these little weekly updates Nulla, they provide a good overview of the sector.

I am not suprised to see the prop-index breaking out above its resistance level as I have seen a couple of individual A-REIT charts do exactly the same -DXS, IOF for example..


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## coolcup (26 April 2014)

I also really enjoy reading the weekly sector and stock specific updates. I try and contribute where possible so you feel like someone is taking some interest! Keep up the good work!



nulla nulla said:


> IOF is trading at a discount to NTA




Your table indicates IOF is trading at a 7% premium to NTA no?


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## nulla nulla (26 April 2014)

coolcup said:


> I also really enjoy reading the weekly sector and stock specific updates. I try and contribute where possible so you feel like someone is taking some interest! Keep up the good work!
> 
> 
> 
> Your table indicates IOF is trading at a 7% premium to NTA no?




Yes the table does indicate it is trading at a premium to nta. When I posted the comment above I was thinking I had read an article in the paper where the nta was quoted around $3.46. I will check and get back on it.


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## nulla nulla (27 April 2014)

nulla nulla said:


> Yes the table does indicate it is trading at a premium to nta. When I posted the comment above I was thinking I had read an article in the paper where the nta was quoted around $3.46. I will check and get back on it.




The IOF site shows the IOF nta as $3.23 and Iress shows the IOF nta as $3.24. I will update the tables accordingly and check the rest of the nta figures as well. It would seem IOF is already trading at a premium to nta which doesn't leave much more scope for a takeover premium.


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## nulla nulla (27 April 2014)

*A-REIT Sector:  Weekending Thursday 24 April 2014 (revised)*

Some figures were out of date and have been corrected as at 24 April 2014.  IOF is actually trading at a small premium to NTA and, in my opinion, there isn't a lot of scope for a take-over premium. The revised table follows:


Code				Closing Price					Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Discount to NTA		           ABP  *	2.430	*​  1,225,941,393​  0.1846​  7.60%​  0.1650​  * 6.79%​ *  13.16​  2.34​  -3.85%​  ALZ  *	4.260	*​  2,466,474,089​  0.2340​  5.49%​  0.2150​  * 5.05%​ *  18.21​  3.57​  -19.33%​  AOG  *	2.050	*​  1,025,228,493​  0.0087​  0.42%​  0.0087​  * 0.42%​ *  235.63​  2.78​  26.26%​  BWP  *	2.500	*​  1,567,914,798​  0.2276​  9.10%​  0.1392​  * 5.57%​ *  10.98​  2.02​  -23.76%​  CDI  *	2.740	*​  586,636,776​  0.1607​  5.86%​  0.1840​  * 6.72%​ *  17.05​  2.74​  0.00%​  CFX  *	2.040	*​  6,156,823,652​  0.1255​  6.15%​  0.1360​  * 6.67%​ *  16.25​  2.02​  -0.99%​  CHC  *	4.190	*​  1,457,808,088​  0.1760​  4.20%​  0.2140​  * 5.11%​ *  23.81​  2.15​  -94.88%​  CQR  *	3.850	*​  1,420,806,888​  0.1714​  4.45%​  0.2715​  * 7.05%​ *  22.46​  3.36​  -14.58%​  CMW  *	1.000	*​  1,724,697,156​  0.0614​  6.14%​  0.0750​  * 7.50%​ *  16.29​  0.71​  -40.85%​  DXS  *	1.130	*​  6,078,823,501​  0.1081​  9.57%​  0.0618​  * 5.47%​ *  10.45​  1.08​  -4.63%​  FDC  *	2.440	*​  3,483,445,419​  0.2247​  9.21%​  0.1500​  * 6.15%​ *  10.86​  2.30​  -6.09%​  GMG  *	4.980	*​  8,603,876,160​  0.0939​  1.89%​  0.2005​  * 4.03%​ *  53.04​  2.73​  -82.42%​  GPT  *	3.890	*​  6,556,443,115​  0.3150​  8.10%​  0.2040​  * 5.24%​ *  12.35​  3.79​  -2.64%​  IOF  *	3.360	*​  2,063,199,459​  0.2622​  7.80%​  0.1825​  * 5.43%​ *  12.81​  3.23​  -4.02%​  MGR  *	1.750	*​  6,461,489,601​  0.0914​  5.22%​  0.0890​  * 5.09%​ *  19.15​  1.65​  -6.06%​  SCP  *	1.740	*​  1,128,613,277​  0.1220​  7.01%​  0.1100​  * 6.32%​ *  14.26​  1.59​  -9.43%​  SGP  *	3.830	*​  8,912,327,885​  0.2434​  6.36%​  0.2400​  * 6.27%​ *  15.74​  3.52​  -8.81%​  WDC  *	10.770	*​  22,762,414,537​  0.7413​  6.88%​  0.5100​  * 4.74%​ *  14.53​  7.29​  -47.74%​ 	WRT	 *	3.200	*​  9,533,484,893​  0.2568​  8.03%​  0.1985​  * 6.20%​ *  12.46​  3.52​  9.09%​ 



*Comments:*


*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector (plus Aveo Group and Challenger Diversified).

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 11 April 2014, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have been updated as at 24 April 2014. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Discount to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


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## nulla nulla (3 May 2014)

*A-REIT Sector:  Weekending Thursday 02 May 2014*

The A-REIT Sector continued to climb for the first three (3) days of this week closing out April at a new recent high. However, after what appears to be a bit of end of month portfolio rebalancing, the sector retraced over the following two (2) days to close out the week slightly below last weeks close. Some trade opportunities on some of the spreads but for me (for the most part) the spreads were too tight and the volumes too low to get a decent position with a reasonable risk return aspect. 




The *A-REIT Table* for closing prices for week ending * 02 May 2014* follows:


	Code				Closing Price					Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Discount to NTA		           ABP  *	2.450	*​  1,236,031,446​  0.1846​  7.53%​  0.1650​  * 6.73%​ *  13.27​  2.34​  -4.70%​  ALZ  *	4.300	*​  2,489,633,470​  0.2340​  5.44%​  0.2150​  * 5.00%​ *  18.38​  3.57​  -20.45%​  AOG  *	2.030	*​  1,015,226,264​  0.0087​  0.43%​  0.0087​  * 0.43%​ *  233.33​  2.78​  26.98%​  BWP  *	2.500	*​  1,567,914,798​  0.2276​  9.10%​  0.1392​  * 5.57%​ *  10.98​  2.02​  -23.76%​  CDI  *	2.740	*​  586,636,776​  0.1607​  5.86%​  0.1840​  * 6.72%​ *  17.05​  2.74​  0.00%​  CFX  *	2.030	*​  6,126,643,144​  0.1255​  6.18%​  0.1360​  * 6.70%​ *  16.18​  2.02​  -0.50%​  CHC  *	4.110	*​  1,429,974,043​  0.1760​  4.28%​  0.2140​  * 5.21%​ *  23.35​  2.15​  -91.16%​  CQR  *	3.810	*​  1,406,045,258​  0.1714​  4.50%​  0.2715​  * 7.13%​ *  22.23​  3.36​  -13.39%​  CMW  *	0.970	*​  1,672,956,241​  0.0614​  6.33%​  0.0750​  * 7.73%​ *  15.80​  0.71​  -36.62%​  DXS  *	1.100	*​  5,917,438,806​  0.1081​  9.83%​  0.0618​  * 5.62%​ *  10.18​  1.08​  -1.85%​  FDC  *	2.430	*​  3,469,169,003​  0.2247​  9.25%​  0.1500​  * 6.17%​ *  10.81​  2.30​  -5.65%​  GMG  *	4.930	*​  8,517,491,862​  0.0939​  1.90%​  0.2005​  * 4.07%​ *  52.50​  2.73​  -80.59%​  GPT  *	3.900	*​  6,573,297,725​  0.3150​  8.08%​  0.2040​  * 5.23%​ *  12.38​  3.79​  -2.90%​  IOF  *	3.290	*​  2,020,216,137​  0.2622​  7.97%​  0.1825​  * 5.55%​ *  12.55​  3.23​  -1.86%​  MGR  *	1.750	*​  6,461,489,601​  0.0914​  5.22%​  0.0890​  * 5.09%​ *  19.15​  1.65​  -6.06%​  SCP  *	1.690	*​  1,096,181,861​  0.1220​  7.22%​  0.1100​  * 6.51%​ *  13.85​  1.59​  -6.29%​  SGP  *	3.880	*​  9,028,676,813​  0.2434​  6.27%​  0.2400​  * 6.19%​ *  15.94​  3.52​  -10.23%​  WDC  *	10.730	*​  22,677,874,464​  0.7413​  6.91%​  0.5100​  * 4.75%​ *  14.47​  7.29​  -47.19%​ 	WRT	 *	3.180	*​  9,473,900,612​  0.2568​  8.08%​  0.1985​  * 6.24%​ *  12.38​  3.52​  9.66%​ 


*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		24-Apr-14				2-May-14		  	Abacus Property	 ABP  2.430​  2.450​  0.020​  0.82%​ 	Australand_Property	 ALZ  4.260​  4.300​  0.040​  0.94%​ 	Aveo (FKP Stapled)	 AOG  2.050​  2.030​  -0.020​  -0.98%​ 	BWP Trust	 BWP  2.500​  2.500​  0.000​  0.00%​ 	Challenger Div	 CDI  2.740​  2.740​  0.000​  0.00%​ 	CFS Retail Trust	 CFX  2.040​  2.030​  -0.010​  -0.49%​ 	Charter Hall	 CHC  4.190​  4.110​  -0.080​  -1.91%​ 	Charter Hall Retail	 CQR  3.850​  3.810​  -0.040​  -1.04%​ 	Cromwell	 CMW  1.000​  0.970​  -0.030​  -3.00%​ 	Dexus	 DXS  1.130​  1.100​  -0.030​  -2.65%​ 	Federation Centres	 FDC  2.440​  2.430​  -0.010​  -0.41%​ 	Goodman Group	 GMG  4.980​  4.930​  -0.050​  -1.00%​ 	GPT Group	 GPT  3.890​  3.900​  0.010​  0.26%​ 	Investa Office	 IOF  3.360​  3.290​  -0.070​  -2.08%​ 	Mirvac Group	 MGR  1.750​  1.750​  0.000​  0.00%​ 	SCA Property Group	 SCP  1.740​  1.690​  -0.050​  -2.87%​ 	Stockland Property	 SGP  3.830​  3.880​  0.050​  *	1.31%	*​ 	Westfield	 WDC  10.770​  10.730​  -0.040​  -0.37%​ 	Westfield Retail		WRT	 3.200​  3.180​  -0.020​  -0.63%​ 


*The comparison table of March Month Ending closing prices versus April Month Ending closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		28-Mar-14				2-May-14		  	Abacus Property	 ABP  2.330​  2.450​  0.120​  5.15%​ 	Australand_Property	 ALZ  4.250​  4.300​  0.050​  1.18%​ 	Aveo (FKP Stapled)	 AOG  1.995​  2.030​  0.035​  1.75%​ 	BWP Trust	 BWP  2.290​  2.500​  0.210​  *	9.17%	*​ 	Challenger Div	 CDI  2.570​  2.740​  0.170​  6.61%​ 	CFS Retail Trust	 CFX  1.880​  2.030​  0.150​  7.98%​ 	Charter Hall	 CHC  3.920​  4.110​  0.190​  4.85%​ 	Charter Hall Retail	 CQR  3.560​  3.810​  0.250​  7.02%​ 	Cromwell	 CMW  0.955​  0.970​  0.015​  1.57%​ 	Dexus	 DXS  1.055​  1.100​  0.045​  4.27%​ 	Federation Centres	 FDC  2.330​  2.430​  0.100​  4.29%​ 	Goodman Group	 GMG  4.720​  4.930​  0.210​  4.45%​ 	GPT Group	 GPT  3.630​  3.900​  0.270​  7.44%​ 	Investa Office	 IOF  3.210​  3.290​  0.080​  2.49%​ 	Mirvac Group	 MGR  1.670​  1.750​  0.080​  4.79%​ 	SCA Property Group	 SCP  1.630​  1.690​  0.060​  3.68%​ 	Stockland Property	 SGP  3.700​  3.880​  0.180​  4.86%​ 	Westfield	 WDC  10.280​  10.730​  0.450​  4.38%​ 	Westfield Retail		WRT	 2.970​  3.180​  0.210​  7.07%​ 


Not a bad result for Bunnings Property Group holders.

*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector (plus Aveo Group and Challenger Diversified).

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 11 April 2014, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have been updated as at 24 April 2014. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Discount to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


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## nulla nulla (11 May 2014)

*A-REIT Sector:  Weekending Friday 09 May 2014 *

The A-REIT Sector fell for the first three (3) days of this week but lifted to close out the week pretty much in line with the previous weeks range. Westfields issued a revised offer sweetening the deal for WRT holders by reducing the debt to be transferred into Scentre by $300million. Both WDC and WRT finished the week better dragging the Sector with it. In my opinion the change to the offer is pathetic, with WDC still definitely getting the better end of the deal. For me (for the most part) the spreads across the sector are still too tight and the volumes too low to get a decent position with a reasonable risk return aspect. Watching and waiting.




The *A-REIT Table* for closing prices for week ending * 09 May 2014* follows:


	Code				Closing Price					Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Discount to NTA		           ABP  *	2.590	*​  1,306,661,814​  0.1846​  7.13%​  0.1650​  * 6.37%​ *  14.03​  2.34​  -10.68%​  ALZ  *	4.260	*​  2,466,474,089​  0.2340​  5.49%​  0.2150​  * 5.05%​ *  18.21​  3.57​  -19.33%​  AOG  *	2.060	*​  1,030,229,608​  0.0087​  0.42%​  0.0087​  * 0.42%​ *  236.78​  2.78​  25.90%​  BWP  *	2.560	*​  1,605,544,753​  0.2276​  8.89%​  0.1392​  * 5.44%​ *  11.25​  2.02​  -26.73%​  CDI  *	2.750	*​  588,777,786​  0.1607​  5.84%​  0.1840​  * 6.69%​ *  17.11​  2.74​  -0.36%​  CFX  *	2.050	*​  6,187,004,161​  0.1255​  6.12%​  0.1360​  * 6.63%​ *  16.33​  2.02​  -1.49%​  CHC  *	4.230	*​  1,471,725,110​  0.1760​  4.16%​  0.2140​  * 5.06%​ *  24.03​  2.15​  -96.74%​  CQR  *	3.860	*​  1,424,497,295​  0.1714​  4.44%​  0.2715​  * 7.03%​ *  22.52​  3.36​  -14.88%​  CMW  *	0.990	*​  1,707,450,184​  0.0614​  6.20%​  0.0750​  * 7.58%​ *  16.12​  0.71​  -39.44%​  DXS  *	1.110	*​  5,971,233,705​  0.1081​  9.74%​  0.0618​  * 5.57%​ *  10.27​  1.08​  -2.78%​  FDC  *	2.460	*​  3,511,998,250​  0.2247​  9.13%​  0.1500​  * 6.10%​ *  10.95​  2.30​  -6.96%​  GMG  *	5.040	*​  8,707,537,319​  0.0939​  1.86%​  0.2005​  * 3.98%​ *  53.67​  2.73​  -84.62%​  GPT  *	3.960	*​  6,674,425,382​  0.3150​  7.95%​  0.2040​  * 5.15%​ *  12.57​  3.79​  -4.49%​  IOF  *	3.270	*​  2,007,935,188​  0.2622​  8.02%​  0.1825​  * 5.58%​ *  12.47​  3.23​  -1.24%​  MGR  *	1.740	*​  6,424,566,803​  0.0914​  5.25%​  0.0890​  * 5.11%​ *  19.04​  1.65​  -5.45%​  SCP  *	1.750	*​  1,135,099,560​  0.1220​  6.97%​  0.1100​  * 6.29%​ *  14.34​  1.59​  -10.06%​  SGP  *	3.830	*​  8,912,327,885​  0.2434​  6.36%​  0.2400​  * 6.27%​ *  15.74​  3.52​  -8.81%​  WDC  *	10.870	*​  22,973,764,718​  0.7413​  6.82%​  0.5100​  * 4.69%​ *  14.66​  7.29​  -49.11%​ 	WRT	 *	3.220	*​  9,593,069,173​  0.2568​  7.98%​  0.1985​  * 6.16%​ *  12.54​  3.52​  8.52%​ 


*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		2-May-14				9-May-14		  	Abacus Property	 ABP  2.450​  2.590​  0.140​  *	5.71%	*​ 	Australand_Property	 ALZ  4.300​  4.260​  -0.040​  -0.93%​ 	Aveo (FKP Stapled)	 AOG  2.030​  2.060​  0.030​  1.48%​ 	BWP Trust	 BWP  2.500​  2.560​  0.060​  2.40%​ 	Challenger Div	 CDI  2.740​  2.750​  0.010​  0.36%​ 	CFS Retail Trust	 CFX  2.030​  2.050​  0.020​  0.99%​ 	Charter Hall	 CHC  4.110​  4.230​  0.120​  2.92%​ 	Charter Hall Retail	 CQR  3.810​  3.860​  0.050​  1.31%​ 	Cromwell	 CMW  0.970​  0.990​  0.020​  2.06%​ 	Dexus	 DXS  1.100​  1.110​  0.010​  0.91%​ 	Federation Centres	 FDC  2.430​  2.460​  0.030​  1.23%​ 	Goodman Group	 GMG  4.930​  5.040​  0.110​  2.23%​ 	GPT Group	 GPT  3.900​  3.960​  0.060​  1.54%​ 	Investa Office	 IOF  3.290​  3.270​  -0.020​  -0.61%​ 	Mirvac Group	 MGR  1.750​  1.740​  -0.010​  -0.57%​ 	SCA Property Group	 SCP  1.690​  1.750​  0.060​  3.55%​ 	Stockland Property	 SGP  3.880​  3.830​  -0.050​  -1.29%​ 	Westfield	 WDC  10.730​  10.870​  0.140​  1.30%​ 	Westfield Retail		WRT	 3.180​  3.220​  0.040​  1.26%​ 


*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector (plus Aveo Group and Challenger Diversified).

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 11 April 2014, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have been updated as at 24 April 2014. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Discount to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (18 May 2014)

*A-REIT Sector:  Weekending Friday 16 May 2014 *

Westfields are reportedly still facing stiff opposition from some of the major share holders of Westfield Retail in respect of the proposed restructure. However that did not stop their shares from climbing. Seems that some investors are reasoning that by buying shares in both companies they will come out in front regardless. Representing a large proportion of the A-REIT sector their increase for the week was enough to offset falls in other A-REIT's, effectively propping up the sector.

For me (for the most part) the spreads across the sector are still too tight and the volumes too low to get a decent position with a reasonable risk return aspect. Still watching and waiting.




The *A-REIT Table* for closing prices for week ending * 16 May 2014* follows:


	Code				Closing Price					Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Discount to NTA		           ABP  *	2.450	*​  1,236,031,446​  0.1846​  7.53%​  0.1650​  * 6.73%​ *  13.27​  2.34​  -4.70%​  ALZ  *	4.240	*​  2,454,894,399​  0.2340​  5.52%​  0.2150​  * 5.07%​ *  18.12​  3.57​  -18.77%​  AOG  *	2.070	*​  1,035,230,722​  0.0087​  0.42%​  0.0087​  * 0.42%​ *  237.93​  2.78​  25.54%​  BWP  *	2.520	*​  1,580,458,116​  0.2276​  9.03%​  0.1392​  * 5.52%​ *  11.07​  2.02​  -24.75%​  CDI  *	2.740	*​  586,636,776​  0.1607​  5.86%​  0.1840​  * 6.72%​ *  17.05​  2.74​  0.00%​  CFX  *	2.000	*​  6,036,101,620​  0.1255​  6.28%​  0.1360​  * 6.80%​ *  15.94​  2.02​  0.99%​  CHC  *	4.250	*​  1,478,683,622​  0.1760​  4.14%​  0.2140​  * 5.04%​ *  24.15​  2.15​  -97.67%​  CQR  *	3.860	*​  1,424,497,295​  0.1714​  4.44%​  0.2715​  * 7.03%​ *  22.52​  3.36​  -14.88%​  CMW  *	0.980	*​  1,690,203,213​  0.0614​  6.27%​  0.0750​  * 7.65%​ *  15.96​  0.71​  -38.03%​  DXS  *	1.110	*​  5,971,233,705​  0.1081​  9.74%​  0.0618​  * 5.57%​ *  10.27​  1.08​  -2.78%​  FDC  *	2.430	*​  3,469,169,003​  0.2247​  9.25%​  0.1500​  * 6.17%​ *  10.81​  2.30​  -5.65%​  GMG  *	5.070	*​  8,759,367,898​  0.0939​  1.85%​  0.2005​  * 3.95%​ *  53.99​  2.73​  -85.71%​  GPT  *	3.850	*​  6,489,024,677​  0.3150​  8.18%​  0.2040​  * 5.30%​ *  12.22​  3.79​  -1.58%​  IOF  *	3.310	*​  2,032,497,086​  0.2622​  7.92%​  0.1825​  * 5.51%​ *  12.62​  3.23​  -2.48%​  MGR  *	1.765	*​  6,516,873,798​  0.0914​  5.18%​  0.0890​  * 5.04%​ *  19.31​  1.65​  -6.97%​  SCP  *	1.705	*​  1,105,911,286​  0.1220​  7.16%​  0.1100​  * 6.45%​ *  13.98​  1.59​  -7.23%​  SGP  *	3.820	*​  8,889,058,099​  0.2434​  6.37%​  0.2400​  * 6.28%​ *  15.69​  3.52​  -8.52%​  WDC  *	11.070	*​  23,396,465,081​  0.7413​  6.70%​  0.5100​  * 4.61%​ *  14.93​  7.29​  -51.85%​ 	WRT	 *	3.250	*​  9,682,445,594​  0.2568​  7.90%​  0.1985​  * 6.11%​ *  12.66​  3.52​  7.67%​ 


*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		9-May-14				16-May-14		  	Abacus Property	 ABP  2.590​  2.450​  -0.140​  *	-5.41%	*​ 	Australand_Property	 ALZ  4.260​  4.240​  -0.020​  -0.47%​ 	Aveo (FKP Stapled)	 AOG  2.060​  2.070​  0.010​  0.49%​ 	BWP Trust	 BWP  2.560​  2.520​  -0.040​  -1.56%​ 	Challenger Div	 CDI  2.750​  2.740​  -0.010​  -0.36%​ 	CFS Retail Trust	 CFX  2.050​  2.000​  -0.050​  -2.44%​ 	Charter Hall	 CHC  4.230​  4.250​  0.020​  0.47%​ 	Charter Hall Retail	 CQR  3.860​  3.860​  0.000​  0.00%​ 	Cromwell	 CMW  0.990​  0.980​  -0.010​  -1.01%​ 	Dexus	 DXS  1.110​  1.110​  0.000​  0.00%​ 	Federation Centres	 FDC  2.460​  2.430​  -0.030​  -1.22%​ 	Goodman Group	 GMG  5.040​  5.070​  0.030​  0.60%​ 	GPT Group	 GPT  3.960​  3.850​  -0.110​  -2.78%​ 	Investa Office	 IOF  3.270​  3.310​  0.040​  1.22%​ 	Mirvac Group	 MGR  1.740​  1.765​  0.025​  1.44%​ 	SCA Property Group	 SCP  1.750​  1.705​  -0.045​  -2.57%​ 	Stockland Property	 SGP  3.830​  3.820​  -0.010​  -0.26%​ 	Westfield	 WDC  10.870​  11.070​  0.200​  *	1.84%	*​ 	Westfield Retail		WRT	 3.220​  3.250​  0.030​  0.93%​ 


*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector (plus Aveo Group and Challenger Diversified).

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 11 April 2014, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have been updated as at 24 April 2014. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Discount to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (24 May 2014)

*A-REIT Sector:  Weekending Friday 23 May 2014 *

The A-REIT Sector moved slightly higher this week. As mining tumbled and Finance took a step back, it seemed that some investors and/or fund managers sought safe haven in dividend yielding stocks. The low price/earnings multiples of some of the A-REIT stocks combined with their higher yields are apparently looking better than investing in bonds.

The sector is looking very toppy for me and the share price spreads are mostly still too tight to take a viable position with a reasonable risk return aspect. Still watching and waiting.




The *A-REIT Table* for closing prices for week ending * 23 May 2014* follows:


	Code				Closing Price					Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Discount to NTA		           ABP  *	2.450	*​  1,236,031,446​  0.1846​  7.53%​  0.1650​  * 6.73%​ *  13.27​  2.34​  -4.70%​  ALZ  *	4.260	*​  2,466,474,089​  0.2340​  5.49%​  0.2150​  * 5.05%​ *  18.21​  3.57​  -19.33%​  AOG  *	2.020	*​  1,010,225,149​  0.0087​  0.43%​  0.0087​  * 0.43%​ *  232.18​  2.78​  27.34%​  BWP  *	2.550	*​  1,599,273,093​  0.2276​  8.93%​  0.1392​  * 5.46%​ *  11.20​  2.02​  -26.24%​  CDI  *	2.740	*​  586,636,776​  0.1607​  5.86%​  0.1840​  * 6.72%​ *  17.05​  2.74​  0.00%​  CFX  *	2.070	*​  6,247,365,177​  0.1255​  6.06%​  0.1360​  * 6.57%​ *  16.49​  2.02​  -2.48%​  CHC  *	4.280	*​  1,489,121,388​  0.1760​  4.11%​  0.2140​  * 5.00%​ *  24.32​  2.15​  -99.07%​  CQR  *	3.890	*​  1,435,568,518​  0.1714​  4.41%​  0.2715​  * 6.98%​ *  22.70​  3.36​  -15.77%​  CMW  *	0.980	*​  1,690,203,213​  0.0614​  6.27%​  0.0750​  * 7.65%​ *  15.96​  0.71​  -38.03%​  DXS  *	1.135	*​  6,105,720,950​  0.1081​  9.52%​  0.0618​  * 5.44%​ *  10.50​  1.08​  -5.09%​  FDC  *	2.450	*​  3,497,721,834​  0.2247​  9.17%​  0.1500​  * 6.12%​ *  10.90​  2.30​  -6.52%​  GMG  *	5.100	*​  8,811,198,478​  0.0939​  1.84%​  0.2005​  * 3.93%​ *  54.31​  2.73​  -86.81%​  GPT  *	3.900	*​  6,573,297,725​  0.3150​  8.08%​  0.2040​  * 5.23%​ *  12.38​  3.79​  -2.90%​  IOF  *	3.310	*​  2,032,497,086​  0.2622​  7.92%​  0.1825​  * 5.51%​ *  12.62​  3.23​  -2.48%​  MGR  *	1.765	*​  6,516,873,798​  0.0914​  5.18%​  0.0890​  * 5.04%​ *  19.31​  1.65​  -6.97%​  SCP  *	1.720	*​  1,115,640,710​  0.1220​  7.09%​  0.1100​  * 6.40%​ *  14.10​  1.59​  -8.18%​  SGP  *	3.840	*​  8,935,597,670​  0.2434​  6.34%​  0.2400​  * 6.25%​ *  15.78​  3.52​  -9.09%​  WDC  *	11.030	*​  23,311,925,008​  0.7413​  6.72%​  0.5100​  * 4.62%​ *  14.88​  7.29​  -51.30%​ 	WRT	 *	3.200	*​  9,533,484,893​  0.2568​  8.03%​  0.1985​  * 6.20%​ *  12.46​  3.52​  9.09%​ 


*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		16-May-14				23-May-14		  	Abacus Property	 ABP  2.450​  2.450​  0.000​  0.00%​ 	Australand_Property	 ALZ  4.240​  4.260​  0.020​  0.47%​ 	Aveo (FKP Stapled)	 AOG  2.070​  2.020​  -0.050​  -2.42%​ 	BWP Trust	 BWP  2.520​  2.550​  0.030​  1.19%​ 	Challenger Div	 CDI  2.740​  2.740​  0.000​  0.00%​ 	CFS Retail Trust	 CFX  2.000​  2.070​  0.070​  *	3.50%	*​ 	Charter Hall	 CHC  4.250​  4.280​  0.030​  0.71%​ 	Charter Hall Retail	 CQR  3.860​  3.890​  0.030​  0.78%​ 	Cromwell	 CMW  0.980​  0.980​  0.000​  0.00%​ 	Dexus	 DXS  1.110​  1.135​  0.025​  2.25%​ 	Federation Centres	 FDC  2.430​  2.450​  0.020​  0.82%​ 	Goodman Group	 GMG  5.070​  5.100​  0.030​  0.59%​ 	GPT Group	 GPT  3.850​  3.900​  0.050​  1.30%​ 	Investa Office	 IOF  3.310​  3.310​  0.000​  0.00%​ 	Mirvac Group	 MGR  1.765​  1.765​  0.000​  0.00%​ 	SCA Property Group	 SCP  1.705​  1.720​  0.015​  0.88%​ 	Stockland Property	 SGP  3.820​  3.840​  0.020​  0.52%​ 	Westfield	 WDC  11.070​  11.030​  -0.040​  -0.36%​ 	Westfield Retail		WRT	 3.250​  3.200​  -0.050​  -1.54%​ 



*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector (plus Aveo Group and Challenger Diversified).

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 11 April 2014, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have been updated as at 24 April 2014. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Discount to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (1 June 2014)

*A-REIT Sector:  Weekending Friday 30 May 2014 *

The A-REIT Sector moved higher this week then retraced to finish at the levels of two weeks ago. The adage "In May stay away" didn't kick in this year however the fear index and volatility indexes are reportedly at levels where a lot of investors are supposedly anticipating another correction, perhaps in June? 
It probably isn't much of a surprise that Westfield Group finished the week lower as Westfield Retail Trust shareholders declined to support the proposed restructure. Seems as it became apparent earlier in the week and shareholders started selling down both companies to some extent.




The *A-REIT Table* for closing prices for week ending * 30 May 2014* follows:


	Code				Closing Price					Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Discount to NTA		           ABP  *	2.420	*​  1,220,896,367​  0.1846​  7.63%​  0.1650​  * 6.82%​ *  13.11​  2.34​  -3.42%​  ALZ  *	4.290	*​  2,483,843,625​  0.2340​  5.45%​  0.2150​  * 5.01%​ *  18.33​  3.57​  -20.17%​  AOG  *	2.040	*​  1,020,227,378​  0.0087​  0.43%​  0.0087​  * 0.43%​ *  234.48​  2.78​  26.62%​  BWP  *	2.580	*​  1,618,088,071​  0.2276​  8.82%​  0.1392​  * 5.40%​ *  11.34​  2.02​  -27.72%​  CDI  *	2.740	*​  586,636,776​  0.1607​  5.86%​  0.1840​  * 6.72%​ *  17.05​  2.74​  0.00%​  CFX  *	2.050	*​  6,187,004,161​  0.1255​  6.12%​  0.1360​  * 6.63%​ *  16.33​  2.02​  -1.49%​  CHC  *	4.310	*​  1,499,559,155​  0.1760​  4.08%​  0.2140​  * 4.97%​ *  24.49​  2.15​  -100.47%​  CQR  *	4.000	*​  1,476,163,000​  0.1714​  4.29%​  0.2715​  * 6.79%​ *  23.34​  3.36​  -19.05%​  CMW  *	0.995	*​  1,716,073,670​  0.0614​  6.17%​  0.0750​  * 7.54%​ *  16.21​  0.71​  -40.14%​  DXS  *	1.115	*​  5,998,131,154​  0.1081​  9.70%​  0.0618​  * 5.54%​ *  10.31​  1.08​  -3.24%​  FDC  *	2.520	*​  3,597,656,744​  0.2247​  8.92%​  0.1500​  * 5.95%​ *  11.21​  2.30​  -9.57%​  GMG  *	5.090	*​  8,793,921,618​  0.0939​  1.84%​  0.2005​  * 3.94%​ *  54.21​  2.73​  -86.45%​  GPT  *	3.900	*​  6,573,297,725​  0.3150​  8.08%​  0.2040​  * 5.23%​ *  12.38​  3.79​  -2.90%​  IOF  *	3.350	*​  2,057,058,984​  0.2622​  7.83%​  0.1825​  * 5.45%​ *  12.78​  3.23​  -3.72%​  MGR  *	1.810	*​  6,683,026,387​  0.0914​  5.05%​  0.0890​  * 4.92%​ *  19.80​  1.65​  -9.70%​  SCP  *	1.730	*​  1,122,126,994​  0.1220​  7.05%​  0.1100​  * 6.36%​ *  14.18​  1.59​  -8.81%​  SGP  *	3.900	*​  9,075,216,384​  0.2434​  6.24%​  0.2400​  * 6.15%​ *  16.02​  3.52​  -10.80%​  WDC  *	10.700	*​  22,614,469,410​  0.7413​  6.93%​  0.5100​  * 4.77%​ *  14.43​  7.29​  -46.78%​ 	WRT	 *	3.190	*​  9,503,692,753​  0.2568​  8.05%​  0.1985​  * 6.22%​ *  12.42​  3.52​  9.38%​ 


*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		23-May-14				30-May-14		  	Abacus Property	 ABP  2.450​  2.420​  -0.030​  -1.22%​ 	Australand_Property	 ALZ  4.260​  4.290​  0.030​  0.70%​ 	Aveo (FKP Stapled)	 AOG  2.020​  2.040​  0.020​  0.99%​ 	BWP Trust	 BWP  2.550​  2.580​  0.030​  1.18%​ 	Challenger Div	 CDI  2.740​  2.740​  0.000​  0.00%​ 	CFS Retail Trust	 CFX  2.070​  2.050​  -0.020​  -0.97%​ 	Charter Hall	 CHC  4.280​  4.310​  0.030​  0.70%​ 	Charter Hall Retail	 CQR  3.890​  4.000​  0.110​  *	2.83%	*​ 	Cromwell	 CMW  0.980​  0.995​  0.015​  1.53%​ 	Dexus	 DXS  1.135​  1.115​  -0.020​  -1.76%​ 	Federation Centres	 FDC  2.450​  2.520​  0.070​  2.86%​ 	Goodman Group	 GMG  5.100​  5.090​  -0.010​  -0.20%​ 	GPT Group	 GPT  3.900​  3.900​  0.000​  0.00%​ 	Investa Office	 IOF  3.310​  3.350​  0.040​  1.21%​ 	Mirvac Group	 MGR  1.765​  1.810​  0.045​  2.55%​ 	SCA Property Group	 SCP  1.720​  1.730​  0.010​  0.58%​ 	Stockland Property	 SGP  3.840​  3.900​  0.060​  1.56%​ 	Westfield	 WDC  11.030​  10.700​  -0.330​  *	-2.99%	*​ 	Westfield Retail		WRT	 3.200​  3.190​  -0.010​  -0.31%​ 


*The comparison table of this months closing prices versus last months closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		2-May-14				30-May-14		  	Abacus Property	 ABP  2.450​  2.420​  -0.030​  -1.22%​ 	Australand_Property	 ALZ  4.300​  4.290​  -0.010​  -0.23%​ 	Aveo (FKP Stapled)	 AOG  2.030​  2.040​  0.010​  0.49%​ 	BWP Trust	 BWP  2.500​  2.580​  0.080​  3.20%​ 	Challenger Div	 CDI  2.740​  2.740​  0.000​  0.00%​ 	CFS Retail Trust	 CFX  2.030​  2.050​  0.020​  0.99%​ 	Charter Hall	 CHC  4.110​  4.310​  0.200​  4.87%​ 	Charter Hall Retail	 CQR  3.810​  4.000​  0.190​  *4.99%*​ 	Cromwell	 CMW  0.970​  0.995​  0.025​  2.58%​ 	Dexus	 DXS  1.100​  1.115​  0.015​  1.36%​ 	Federation Centres	 FDC  2.430​  2.520​  0.090​  3.70%​ 	Goodman Group	 GMG  4.930​  5.090​  0.160​  3.25%​ 	GPT Group	 GPT  3.900​  3.900​  0.000​  0.00%​ 	Investa Office	 IOF  3.290​  3.350​  0.060​  1.82%​ 	Mirvac Group	 MGR  1.750​  1.810​  0.060​  3.43%​ 	SCA Property Group	 SCP  1.690​  1.730​  0.040​  2.37%​ 	Stockland Property	 SGP  3.880​  3.900​  0.020​  0.52%​ 	Westfield	 WDC  10.730​  10.700​  -0.030​  -0.28%​ 	Westfield Retail		WRT	 3.180​  3.190​  0.010​  0.31%​ 



*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector (plus Aveo Group and Challenger Diversified).

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 11 April 2014, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have been updated as at 24 April 2014. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Discount to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (8 June 2014)

*A-REIT Sector:  Weekending Friday 06 June 2014 *

The A-REIT Sector surged this week (in my opinion) on the back of two significant events, possibly three:

The first event was the unexpected take over offer from the Singapore based Fraser Centrepoint Group for Australand, upping the ante on the existing take over offer from Stockland. ALZ surged and not surprisingly so did Stockland. The surprise offer seemed to bouy the A-REIT sector with almost all of the stocks being seen as potential take over targets. Stockland are sitting on a short term multi million dollar profit if they sell their 19.9% stake in ALZ to Fraser.

The second event which may have kicked in on Thursday/Friday was the European Central Banks decision to pay depositors negative interest rates. The idea being to force their members banks to lend/invest their money out into the economy. This is potentially as big a stimulant to share markets as the U.S quantative easing program. There is likely to be a lot of investors looking to invest large sums Globally into safe assets with yields better than bonds and bank rates.  

The possible third event could be a share price run up for A-REIT's that go ex-div this month. 

The continuing Westfield debacle (in my opinion) has brought to the surface a huge conflict of interest in the manner in which the Lowy's treat the Westfield companies, particularly WRT. I'm betting this will not be finalised, which ever way the vote goes, on 20 June 2014.




The *A-REIT Table* for closing prices for week ending * 06 June 2014* follows:


	Code				Closing Price					Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Discount to NTA		           ABP  *	2.490	*​  1,256,211,551​  0.1846​  7.41%​  0.1650​  * 6.63%​ *  13.49​  2.34​  -6.41%​  ALZ  *	4.590	*​  2,657,538,984​  0.2340​  5.10%​  0.2150​  * 4.68%​ *  19.62​  3.57​  -28.57%​  AOG  *	2.030	*​  1,015,226,264​  0.0087​  0.43%​  0.0087​  * 0.43%​ *  233.33​  2.78​  26.98%​  BWP  *	2.550	*​  1,599,273,093​  0.2276​  8.93%​  0.1392​  * 5.46%​ *  11.20​  2.02​  -26.24%​  CDI  *	2.740	*​  586,636,776​  0.1607​  5.86%​  0.1840​  * 6.72%​ *  17.05​  2.74​  0.00%​  CFX  *	2.110	*​  6,368,087,209​  0.1255​  5.95%​  0.1360​  * 6.45%​ *  16.81​  2.02​  -4.46%​  CHC  *	4.360	*​  1,516,955,433​  0.1760​  4.04%​  0.2140​  * 4.91%​ *  24.77​  2.15​  -102.79%​  CQR  *	3.970	*​  1,465,091,778​  0.1714​  4.32%​  0.2715​  * 6.84%​ *  23.16​  3.36​  -18.15%​  CMW  *	0.990	*​  1,707,450,184​  0.0614​  6.20%​  0.0750​  * 7.58%​ *  16.12​  0.71​  -39.44%​  DXS  *	1.150	*​  6,186,413,298​  0.1081​  9.40%​  0.0618​  * 5.37%​ *  10.64​  1.08​  -6.48%​  FDC  *	2.530	*​  3,611,933,159​  0.2247​  8.88%​  0.1500​  * 5.93%​ *  11.26​  2.30​  -10.00%​  GMG  *	5.150	*​  8,897,582,776​  0.0939​  1.82%​  0.2005​  * 3.89%​ *  54.85​  2.73​  -88.64%​  GPT  *	3.950	*​  6,657,570,772​  0.3150​  7.97%​  0.2040​  * 5.16%​ *  12.54​  3.79​  -4.22%​  IOF  *	3.350	*​  2,057,058,984​  0.2622​  7.83%​  0.1825​  * 5.45%​ *  12.78​  3.23​  -3.72%​  MGR  *	1.855	*​  6,849,178,977​  0.0914​  4.93%​  0.0890​  * 4.80%​ *  20.30​  1.65​  -12.42%​  SCP  *	1.750	*​  1,135,099,560​  0.1220​  6.97%​  0.1100​  * 6.29%​ *  14.34​  1.59​  -10.06%​  SGP  *	4.000	*​  9,307,914,240​  0.2434​  6.09%​  0.2400​  * 6.00%​ *  16.43​  3.52​  -13.64%​  WDC  *	10.720	*​  22,656,739,446​  0.7413​  6.92%​  0.5100​  * 4.76%​ *  14.46​  7.29​  -47.05%​ 	WRT	 *	3.160	*​  9,414,316,332​  0.2568​  8.13%​  0.1985​  * 6.28%​ *  12.31​  3.52​  10.23%​ 


*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		30-May-14				6-Jun-14		  	Abacus Property	 ABP  2.420​  2.490​  0.070​  2.89%​ 	Australand_Property	 ALZ  4.290​  4.590​  0.300​  *	6.99%	*​ 	Aveo (FKP Stapled)	 AOG  2.040​  2.030​  -0.010​  -0.49%​ 	BWP Trust	 BWP  2.580​  2.550​  -0.030​  -1.16%​ 	Challenger Div	 CDI  2.740​  2.740​  0.000​  0.00%​ 	CFS Retail Trust	 CFX  2.050​  2.110​  0.060​  2.93%​ 	Charter Hall	 CHC  4.310​  4.360​  0.050​  1.16%​ 	Charter Hall Retail	 CQR  4.000​  3.970​  -0.030​  -0.75%​ 	Cromwell	 CMW  0.995​  0.990​  -0.005​  -0.50%​ 	Dexus	 DXS  1.115​  1.150​  0.035​  3.14%​ 	Federation Centres	 FDC  2.520​  2.530​  0.010​  0.40%​ 	Goodman Group	 GMG  5.090​  5.150​  0.060​  1.18%​ 	GPT Group	 GPT  3.900​  3.950​  0.050​  1.28%​ 	Investa Office	 IOF  3.350​  3.350​  0.000​  0.00%​ 	Mirvac Group	 MGR  1.810​  1.855​  0.045​  2.49%​ 	SCA Property Group	 SCP  1.730​  1.750​  0.020​  1.16%​ 	Stockland Property	 SGP  3.900​  4.000​  0.100​  2.56%​ 	Westfield	 WDC  10.700​  10.720​  0.020​  0.19%​ 	Westfield Retail		WRT	 3.190​  3.160​  -0.030​  -0.94%​ 



*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector (plus Aveo Group and Challenger Diversified).

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 11 April 2014, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have been updated as at 24 April 2014. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Discount to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (15 June 2014)

*A-REIT Sector:  Weekending Friday 13 June 2014 *

This week the A-REIT Sector looked like it was testing resistance around the 10.76 mark and with the proximity of the half year reporting/dividend declarations drawing nearer I was half expecting an upward spike. Then on Thursday the Iraq situation began to feature more prominently in the media and on Friday the All Ords plunged 50 points shortly after opening, dragging the A-REIT sector with it. Fortunately the Global funds looking for safe havens, following on from the European Banks negative interest rate policy, helped arrest the fall. The Aud$ rallied along with our markets with the A-REIT sector finishing down only 4 points on last weeks close. 




The *A-REIT Table* for closing prices for week ending * 13 June 2014* follows:


	Code				Closing Price					Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Discount to NTA		           ABP  *	2.490	*​  1,256,211,551​  0.1846​  7.41%​  0.1650​  * 6.63%​ *  13.49​  2.34​  -6.41%​  ALZ  *	4.600	*​  2,663,328,829​  0.2340​  5.09%​  0.2150​  * 4.67%​ *  19.66​  3.57​  -28.85%​  AOG  *	1.970	*​  985,219,576​  0.0087​  0.44%​  0.0087​  * 0.44%​ *  226.44​  2.78​  29.14%​  BWP  *	2.500	*​  1,567,914,798​  0.2276​  9.10%​  0.1392​  * 5.57%​ *  10.98​  2.02​  -23.76%​  CDI  *	2.740	*​  586,636,776​  0.1607​  5.86%​  0.1840​  * 6.72%​ *  17.05​  2.74​  0.00%​  CFX  *	2.090	*​  6,307,726,193​  0.1255​  6.00%​  0.1360​  * 6.51%​ *  16.65​  2.02​  -3.47%​  CHC  *	4.310	*​  1,499,559,155​  0.1760​  4.08%​  0.2140​  * 4.97%​ *  24.49​  2.15​  -100.47%​  CQR  *	3.910	*​  1,442,949,333​  0.1714​  4.38%​  0.2715​  * 6.94%​ *  22.81​  3.36​  -16.37%​  CMW  *	0.975	*​  1,681,579,727​  0.0614​  6.30%​  0.0750​  * 7.69%​ *  15.88​  0.71​  -37.32%​  DXS  *	1.130	*​  6,078,823,501​  0.1081​  9.57%​  0.0618​  * 5.47%​ *  10.45​  1.08​  -4.63%​  FDC  *	2.520	*​  3,597,656,744​  0.2247​  8.92%​  0.1500​  * 5.95%​ *  11.21​  2.30​  -9.57%​  GMG  *	5.140	*​  8,880,305,917​  0.0939​  1.83%​  0.2005​  * 3.90%​ *  54.74​  2.73​  -88.28%​  GPT  *	3.880	*​  6,539,588,505​  0.3150​  8.12%​  0.2040​  * 5.26%​ *  12.32​  3.79​  -2.37%​  IOF  *	3.340	*​  2,050,918,510​  0.2622​  7.85%​  0.1825​  * 5.46%​ *  12.74​  3.23​  -3.41%​  MGR  *	1.835	*​  6,775,333,382​  0.0914​  4.98%​  0.0890​  * 4.85%​ *  20.08​  1.65​  -11.21%​  SCP  *	1.705	*​  1,105,911,286​  0.1220​  7.16%​  0.1100​  * 6.45%​ *  13.98​  1.59​  -7.23%​  SGP  *	4.000	*​  9,307,914,240​  0.2434​  6.09%​  0.2400​  * 6.00%​ *  16.43​  3.52​  -13.64%​  WDC  *	10.630	*​  22,466,524,283​  0.7413​  6.97%​  0.5100​  * 4.80%​ *  14.34​  7.29​  -45.82%​ 	WRT	 *	3.180	*​  9,473,900,612​  0.2568​  8.08%​  0.1985​  * 6.24%​ *  12.38​  3.52​  9.66%​ 


*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		6-Jun-14				13-Jun-14		  	Abacus Property	 ABP  2.490​  2.490​  0.000​  0.00%​ 	Australand_Property	 ALZ  4.590​  4.600​  0.010​  0.22%​ 	Aveo (FKP Stapled)	 AOG  2.030​  1.970​  -0.060​  -2.96%​ 	BWP Trust	 BWP  2.550​  2.500​  -0.050​  -1.96%​ 	Challenger Div	 CDI  2.740​  2.740​  0.000​  0.00%​ 	CFS Retail Trust	 CFX  2.110​  2.090​  -0.020​  -0.95%​ 	Charter Hall	 CHC  4.360​  4.310​  -0.050​  -1.15%​ 	Charter Hall Retail	 CQR  3.970​  3.910​  -0.060​  -1.51%​ 	Cromwell	 CMW  0.990​  0.975​  -0.015​  -1.52%​ 	Dexus	 DXS  1.150​  1.130​  -0.020​  -1.74%​ 	Federation Centres	 FDC  2.530​  2.520​  -0.010​  -0.40%​ 	Goodman Group	 GMG  5.150​  5.140​  -0.010​  -0.19%​ 	GPT Group	 GPT  3.950​  3.880​  -0.070​  -1.77%​ 	Investa Office	 IOF  3.350​  3.340​  -0.010​  -0.30%​ 	Mirvac Group	 MGR  1.855​  1.835​  -0.020​  -1.08%​ 	SCA Property Group	 SCP  1.750​  1.705​  -0.045​  -2.57%​ 	Stockland Property	 SGP  4.000​  4.000​  0.000​  0.00%​ 	Westfield	 WDC  10.720​  10.630​  -0.090​  -0.84%​ 	Westfield Retail		WRT	 3.160​  3.180​  0.020​  *	0.63%	*​ 



*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector (plus Aveo Group and Challenger Diversified).

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 11 April 2014, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have been updated as at 24 April 2014. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Discount to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (21 June 2014)

*A-REIT Sector:  Weekending Friday 20 June 2014 *

This week the A-REIT Sector broke through the resistance around the 10.76 mark. With the commencement of distribution notices I expect there to be some small further gains before the shares go ex-div. I also expect a sell off in some of the shares as foreign investors opt out before the ex-div date then come back in after the ex-div date, taking advantage of any price falls after the shares go ex-div. The Westfields saga saw a jump in their share prices before the June 20th meeting as punters looked to get into WDC to take advantage of the WRT/Scentre issue. It will be interesting to see what the unhappy fund managers that voted against the restructure do with their WRT/Scentre holdings. 

The two year chart shows that the A-REIT sector has been steadily climbing for the last six months or so. A few of the shares are now getting into the realms of high price earnings multiples. I find it hard to see them as having the growth prospects to support further sustained share price increases.





The *A-REIT Table* for closing prices for week ending * 20 June 2014* follows:


	Code				Closing Price					Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Discount to NTA		           ABP  *	2.500	*​  1,284,449,848​  0.1846​  7.38%​  0.1650​  * 6.60%​ *  13.54​  2.34​  -6.84%​  ALZ  *	4.610	*​  2,669,118,674​  0.2340​  5.08%​  0.2150​  * 4.66%​ *  19.70​  3.57​  -29.13%​  AOG  *	2.030	*​  1,015,226,264​  0.0087​  0.43%​  0.0087​  * 0.43%​ *  233.33​  2.78​  26.98%​  BWP  *	2.590	*​  1,643,083,555​  0.2276​  8.79%​  0.1392​  * 5.37%​ *  11.38​  2.02​  -28.22%​  CDI  *	2.740	*​  586,636,776​  0.1607​  5.86%​  0.1840​  * 6.72%​ *  17.05​  2.74​  0.00%​  CFX  *	2.120	*​  6,398,267,717​  0.1255​  5.92%​  0.1360​  * 6.42%​ *  16.89​  2.02​  -4.95%​  CHC  *	4.430	*​  1,541,310,222​  0.1760​  3.97%​  0.2140​  * 4.83%​ *  25.17​  2.15​  -106.05%​  CQR  *	4.030	*​  1,487,234,223​  0.1714​  4.25%​  0.2715​  * 6.74%​ *  23.51​  3.36​  -19.94%​  CMW  *	0.990	*​  1,710,008,042​  0.0614​  6.20%​  0.0750​  * 7.58%​ *  16.12​  0.71​  -39.44%​  DXS  *	1.120	*​  6,025,028,603​  0.1081​  9.65%​  0.0618​  * 5.52%​ *  10.36​  1.08​  -3.70%​  FDC  *	2.600	*​  3,711,868,069​  0.2247​  8.64%​  0.1530​  * 5.88%​ *  11.57​  2.30​  -13.04%​  GMG  *	5.150	*​  8,897,582,776​  0.0939​  1.82%​  0.2005​  * 3.89%​ *  54.85​  2.73​  -88.64%​  GPT  *	3.920	*​  6,607,006,944​  0.3150​  8.04%​  0.2040​  * 5.20%​ *  12.44​  3.79​  -3.43%​  IOF  *	3.460	*​  2,124,604,205​  0.2622​  7.58%​  0.1850​  * 5.35%​ *  13.20​  3.23​  -7.12%​  MGR  *	1.825	*​  6,738,410,584​  0.0914​  5.01%​  0.0890​  * 4.88%​ *  19.97​  1.65​  -10.61%​  SCP  *	1.805	*​  1,170,774,118​  0.1220​  6.76%​  0.1100​  * 6.09%​ *  14.80​  1.59​  -13.52%​  SGP  *	4.030	*​  9,377,723,597​  0.2434​  6.04%​  0.2400​  * 5.96%​ *  16.56​  3.52​  -14.49%​  WDC  *	10.820	*​  22,484,908,763​  0.7413​  6.85%​  0.5100​  * 4.71%​ *  14.60​  7.29​  -48.42%​ 	WRT	 *	3.210	*​  9,563,277,033​  0.2568​  8.00%​  0.1985​  * 6.18%​ *  12.50​  3.52​  8.81%​ 


*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		13-Jun-14				20-Jun-14		  	Abacus Property	 ABP  2.490​  2.500​  0.010​  0.40%​ 	Australand_Property	 ALZ  4.600​  4.610​  0.010​  0.22%​ 	Aveo (FKP Stapled)	 AOG  1.970​  2.030​  0.060​  3.05%​ 	BWP Trust	 BWP  2.500​  2.590​  0.090​  3.60%​ 	Challenger Div	 CDI  2.740​  2.740​  0.000​  0.00%​ 	CFS Retail Trust	 CFX  2.090​  2.120​  0.030​  1.44%​ 	Charter Hall	 CHC  4.310​  4.430​  0.120​  2.78%​ 	Charter Hall Retail	 CQR  3.910​  4.030​  0.120​  3.07%​ 	Cromwell	 CMW  0.975​  0.990​  0.015​  1.54%​ 	Dexus	 DXS  1.130​  1.120​  -0.010​  -0.88%​ 	Federation Centres	 FDC  2.520​  2.600​  0.080​  3.17%​ 	Goodman Group	 GMG  5.140​  5.150​  0.010​  0.19%​ 	GPT Group	 GPT  3.880​  3.920​  0.040​  1.03%​ 	Investa Office	 IOF  3.340​  3.460​  0.120​  3.59%​ 	Mirvac Group	 MGR  1.835​  1.825​  -0.010​  -0.54%​ 	SCA Property Group	 SCP  1.705​  1.805​  0.100​  *	5.87%	*​ 	Stockland Property	 SGP  4.000​  4.030​  0.030​  0.75%​ 	Westfield	 WDC  10.630​  10.820​  0.190​  1.79%​ 	Westfield Retail		WRT	 3.180​  3.210​  0.030​  0.94%​ 


*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector (plus Aveo Group and Challenger Diversified).

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 20 June 2014, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have been updated as at 20 June 2014. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Discount to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (28 June 2014)

*A-REIT Sector:  Weekending Friday 27 June 2014 *

This week, to my surprise, the A-REIT Sector didn't fade after most of the shares went Ex-div. Some dropped, some held and some made small gains. There seems to be a lot of support coming into the A-REIT sector at the moment.  Mind you it could all change on Monday when fund managers decide to re-weight their portfolio's and brokers process a few extra trades to generate the income needed to cover their bonus's.





The *A-REIT Table* for closing prices for week ending * 27 June 2014* follows:


	Code				Closing Price					Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Discount to NTA		           ABP  *	2.510	*​  1,289,587,647​  0.1846​  7.35%​  0.1650​  * 6.57%​ *  13.60​  2.34​  -7.26%​  ALZ  *	4.430	*​  2,564,901,459​  0.2340​  5.28%​  0.2150​  * 4.85%​ *  18.93​  3.57​  -24.09%​  AOG  *	2.060	*​  1,030,229,608​  0.0087​  0.42%​  0.0087​  * 0.42%​ *  236.78​  2.78​  25.90%​  BWP  *	2.540	*​  1,611,363,795​  0.2276​  8.96%​  0.1392​  * 5.48%​ *  11.16​  2.02​  -25.74%​  CDI  *	2.740	*​  586,636,776​  0.1607​  5.86%​  0.1840​  * 6.72%​ *  17.05​  2.74​  0.00%​  CFX  *	2.060	*​  6,217,184,669​  0.1255​  6.09%​  0.1360​  * 6.60%​ *  16.41​  2.02​  -1.98%​  CHC  *	4.330	*​  1,506,517,666​  0.1760​  4.06%​  0.2140​  * 4.94%​ *  24.60​  2.15​  -101.40%​  CQR  *	3.880	*​  1,431,878,110​  0.1714​  4.42%​  0.2715​  * 7.00%​ *  22.64​  3.36​  -15.48%​  CMW  *	0.980	*​  1,692,735,233​  0.0614​  6.27%​  0.0750​  * 7.65%​ *  15.96​  0.71​  -38.03%​  DXS  *	1.130	*​  6,078,823,501​  0.1081​  9.57%​  0.0618​  * 5.47%​ *  10.45​  1.08​  -4.63%​  FDC  *	2.540	*​  3,626,209,575​  0.2247​  8.85%​  0.1530​  * 6.02%​ *  11.30​  2.30​  -10.43%​  GMG  *	5.150	*​  8,897,582,776​  0.0939​  1.82%​  0.2005​  * 3.89%​ *  54.85​  2.73​  -88.64%​  GPT  *	3.950	*​  6,657,570,772​  0.3150​  7.97%​  0.2040​  * 5.16%​ *  12.54​  3.79​  -4.22%​  IOF  *	3.460	*​  2,124,604,205​  0.2622​  7.58%​  0.1850​  * 5.35%​ *  13.20​  3.24​  -6.79%​  MGR  *	1.810	*​  6,683,026,387​  0.0914​  5.05%​  0.0890​  * 4.92%​ *  19.80​  1.65​  -9.70%​  SCP  *	1.740	*​  1,128,613,277​  0.1220​  7.01%​  0.1100​  * 6.32%​ *  14.26​  1.59​  -9.43%​ 	SCG	 *	3.250	*​  2,108,042,040​  0.2150​  6.62%​  0.2150​  * 6.62%​ *  15.12​  2.88​  -12.85%​  SGP  *	3.940	*​  9,168,295,526​  0.2434​  6.18%​  0.2400​  * 6.09%​ *  16.19​  3.52​  -11.93%​  WDC  *	10.840	*​  22,526,470,516​  0.7413​  6.84%​  0.5100​  * 4.70%​ *  14.62​  7.29​  -48.70%​ 	WFD	 *	7.170	*​  14,899,888,709​  0.4380​  6.11%​  0.4380​  * 6.11%​ *  16.37​  0.00​  #DIV/0!​ 	WRT	 *	3.280	*​  9,771,822,015​  0.2568​  7.83%​  0.1985​  * 6.05%​ *  12.77​  3.52​  6.82%​ 


*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		20-Jun-14				27-Jun-14		  	Abacus Property	 ABP  2.500​  2.510​  0.010​  0.40%​ 	Australand_Property	 ALZ  4.610​  4.430​  -0.180​  -3.90%​ 	Aveo (FKP Stapled)	 AOG  2.030​  2.060​  0.030​  1.48%​ 	BWP Trust	 BWP  2.590​  2.540​  -0.050​  -1.93%​ 	Challenger Div	 CDI  2.740​  2.740​  0.000​  0.00%​ 	CFS Retail Trust	 CFX  2.120​  2.060​  -0.060​  -2.83%​ 	Charter Hall	 CHC  4.430​  4.330​  -0.100​  -2.26%​ 	Charter Hall Retail	 CQR  4.030​  3.880​  -0.150​  -3.72%​ 	Cromwell	 CMW  0.990​  0.980​  -0.010​  -1.01%​ 	Dexus	 DXS  1.120​  1.130​  0.010​  0.89%​ 	Federation Centres	 FDC  2.600​  2.540​  -0.060​  -2.31%​ 	Goodman Group	 GMG  5.150​  5.150​  0.000​  0.00%​ 	GPT Group	 GPT  3.920​  3.950​  0.030​  0.77%​ 	Investa Office	 IOF  3.460​  3.460​  0.000​  0.00%​ 	Mirvac Group	 MGR  1.825​  1.810​  -0.015​  -0.82%​ 	SCA Property Group	 SCP  1.805​  1.740​  -0.065​  -3.60%​ 	Scentre Group		SCG	 3.210​  3.250​  0.040​  1.25%​ 	Stockland Property	 SGP  4.030​  3.940​  -0.090​  -2.23%​ 	Westfield Group	 WDC  10.820​  10.840​  0.020​  0.18%​ 	Westfield Corporation		WFD	 10.820​  7.170​  -3.650​  -33.73%​ 	Westfield Retail		WRT	 3.210​  3.280​  0.070​  2.18%​ 



*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector (plus Aveo Group and Challenger Diversified).

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 20 June 2014, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have been updated as at 20 June 2014. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Discount to NTA"  also.

*4.* The figures for SCG and WFD are based on the proposal issued 4 December 2013. The issued shares are correct but the Earnings and Distributions are based on the December proposal for 2014 forecast earnings. 

*5.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (6 July 2014)

*A-REIT Sector:  Weekending Friday 04 July 2014 *

This week there was a post "ex-div" fade but it came not as a result of the A-REIT shares going ex-div but as a result of Mr Stevens from our Reserve Bank jaw boning our economy again. The Aud$ which had climbed to US$0.95 got smacked down and our REIT's along with it. This is a pain in the neck when you see the All-Ords climbing (as a reflection of the fact that our economy was slowly improving over the past few years) but the REIT sector dropping off.  Charts comparing the All-Ords and the Property Sector show the disparity much clearer than I can.




The *A-REIT Table* for closing prices for week ending * 04 July 2014* follows:


	Code				Closing Price					Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Premium to NTA		           ABP  *	2.480	*​  1,274,174,249​  0.1846​  7.44%​  0.1650​  * 6.65%​ *  13.43​  2.34​  5.98%​  ALZ  *	4.480	*​  2,593,850,685​  0.2340​  5.22%​  0.2150​  * 4.80%​ *  19.15​  3.57​  25.49%​  BWP  *	2.470	*​  1,566,956,132​  0.2276​  9.21%​  0.1392​  * 5.64%​ *  10.85​  2.02​  22.28%​  CFX  *	2.040	*​  6,156,823,652​  0.1255​  6.15%​  0.1360​  * 6.67%​ *  16.25​  2.02​  0.99%​  CHC  *	4.210	*​  1,464,766,599​  0.1760​  4.18%​  0.2140​  * 5.08%​ *  23.92​  2.15​  95.81%​  CQR  *	3.840	*​  1,417,116,480​  0.1714​  4.46%​  0.2715​  * 7.07%​ *  22.40​  3.36​  14.29%​  CMW  *	0.995	*​  1,718,644,446​  0.0614​  6.17%​  0.0750​  * 7.54%​ *  16.21​  0.71​  40.14%​  DXS  *	1.125	*​  6,051,926,052​  0.1081​  9.61%​  0.0618​  * 5.49%​ *  10.41​  1.08​  4.17%​  FDC  *	2.460	*​  3,511,998,250​  0.2247​  9.13%​  0.1530​  * 6.22%​ *  10.95​  2.30​  6.96%​  GMG  *	5.090	*​  8,793,921,618​  0.0939​  1.84%​  0.2005​  * 3.94%​ *  54.21​  2.73​  86.45%​  GPT  *	3.860	*​  6,505,879,286​  0.3150​  8.16%​  0.2040​  * 5.28%​ *  12.25​  3.79​  1.85%​  IOF  *	3.420	*​  2,100,042,306​  0.2622​  7.67%​  0.1850​  * 5.41%​ *  13.04​  3.24​  5.56%​  MGR  *	1.770	*​  6,535,335,196​  0.0914​  5.16%​  0.0890​  * 5.03%​ *  19.37​  1.65​  7.27%​  SCP  *	1.745	*​  1,131,856,418​  0.1220​  6.99%​  0.1100​  * 6.30%​ *  14.30​  1.59​  9.75%​ 	SCG	 *	3.150	*​  2,043,179,208​  0.2150​  6.83%​  0.2150​  * 6.83%​ *  14.65​  2.88​  9.38%​  SGP  *	3.900	*​  9,075,216,384​  0.2434​  6.24%​  0.2400​  * 6.15%​ *  16.02​  3.52​  10.80%​ 	WFD	 *	7.290	*​  15,149,259,231​  0.4380​  6.01%​  0.4380​  * 6.01%​ *  16.64​  0.00​  #DIV/0!​ 


*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		27-Jun-14				4-Jul-14		  	Abacus Property	 ABP  2.510​  2.480​  -0.030​  -1.20%​ 	Australand_Property	 ALZ  4.430​  4.480​  0.050​  1.13%​ 	BWP Trust	 BWP  2.540​  2.470​  -0.070​  -2.76%​ 	CFS Retail Trust	 CFX  2.060​  2.040​  -0.020​  -0.97%​ 	Charter Hall	 CHC  4.330​  4.210​  -0.120​  -2.77%​ 	Charter Hall Retail	 CQR  3.880​  3.840​  -0.040​  -1.03%​ 	Cromwell	 CMW  0.980​  0.995​  0.015​  1.53%​ 	Dexus	 DXS  1.130​  1.125​  -0.005​  -0.44%​ 	Federation Centres	 FDC  2.540​  2.460​  -0.080​  -3.15%​ 	Goodman Group	 GMG  5.150​  5.090​  -0.060​  -1.17%​ 	GPT Group	 GPT  3.950​  3.860​  -0.090​  -2.28%​ 	Investa Office	 IOF  3.460​  3.420​  -0.040​  -1.16%​ 	Mirvac Group	 MGR  1.810​  1.770​  -0.040​  -2.21%​ 	SCA Property Group	 SCP  1.740​  1.745​  0.005​  0.29%​ 	Scentre Group		SCG	 3.250​  3.150​  -0.100​  *	-3.08%	*​ 	Stockland Property	 SGP  3.940​  3.900​  -0.040​  -1.02%​ 	Westfield Corporation		WFD	 7.170​  7.290​  0.120​  *	1.67%	*​ 


The comparative movement of share prices for Westfield Corporation and Scentre Group for this week are interesting. One up and one down. It would appear that the initial market reaction to the restructure is that Westfiled Corporation may have got the better end of the stick in the restructure. 

*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector (I have removed the Aveo Group, Challenger Diversified, Westfield Group & Westfield Trust from the list).

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 20 June 2014, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have been updated as at 20 June 2014. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA" figures also.

*4.* The figures for SCG and WFD are based on the proposal issued 4 December 2013. The issued shares are correct but the Earnings and Distributions are based on the December proposal 2014 forecast earnings. 

*5.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*6.* The "Discount to NTA" column has been changed to "*Premium to NTA*" as most of the A-REIT's are now trading above their NTA values.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (12 July 2014)

*A-REIT Sector:  Weekending Friday 04 July 2014 *

The three year chart for the A-REIT property sector shows that the sector value is climbing back toward the levels of April 2013 when Australia was awash with the sunami of Japanese investment funds. We all know how long that lasted. Maybe this time is different? The rate of improvement in the sector is more gradual and appears to be based on sustained support from investors looking for better returns than bank rates and bonds. Also the price earnings multiples of many of the key shares in the sector are less than the market standard of 15 times. Can the sector go higher or are we heading for a nasty correction?




The *A-REIT Table* for closing prices for week ending * 04 July 2014* follows:


	Code				Closing Price					Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Premium to NTA		           ABP  *	2.500	*​  1,284,449,848​  0.1846​  7.38%​  0.1650​  * 6.60%​ *  13.54​  2.34​  6.84%​  ALZ  *	4.470	*​  2,588,060,840​  0.2340​  5.23%​  0.2150​  * 4.81%​ *  19.10​  3.57​  25.21%​  BWP  *	2.530	*​  1,605,019,843​  0.2276​  9.00%​  0.1392​  * 5.50%​ *  11.12​  2.02​  25.25%​  CFX  *	2.050	*​  6,187,004,161​  0.1255​  6.12%​  0.1360​  * 6.63%​ *  16.33​  2.02​  1.49%​  CHC  *	4.160	*​  1,447,370,321​  0.1760​  4.23%​  0.2140​  * 5.14%​ *  23.64​  2.15​  93.49%​  CQR  *	3.880	*​  1,431,878,110​  0.1714​  4.42%​  0.2715​  * 7.00%​ *  22.64​  3.36​  15.48%​  CMW  *	0.995	*​  1,718,644,446​  0.0614​  6.17%​  0.0750​  * 7.54%​ *  16.21​  0.71​  40.14%​  DXS  *	1.140	*​  6,132,618,399​  0.1081​  9.48%​  0.0618​  * 5.42%​ *  10.55​  1.08​  5.56%​  FDC  *	2.460	*​  3,511,998,250​  0.2247​  9.13%​  0.1530​  * 6.22%​ *  10.95​  2.30​  6.96%​  GMG  *	5.120	*​  8,845,752,197​  0.0939​  1.83%​  0.2005​  * 3.92%​ *  54.53​  2.73​  87.55%​  GPT  *	3.880	*​  6,539,588,505​  0.3150​  8.12%​  0.2040​  * 5.26%​ *  12.32​  3.79​  2.37%​  IOF  *	3.420	*​  2,100,042,306​  0.2622​  7.67%​  0.1850​  * 5.41%​ *  13.04​  3.24​  5.56%​  MGR  *	1.775	*​  6,553,796,595​  0.0914​  5.15%​  0.0890​  * 5.01%​ *  19.42​  1.65​  7.58%​  SCP  *	1.745	*​  1,131,856,418​  0.1220​  6.99%​  0.1100​  * 6.30%​ *  14.30​  1.59​  9.75%​ 	SCG	 *	3.340	*​  2,166,418,589​  0.2150​  6.44%​  0.2150​  * 6.44%​ *  15.53​  2.88​  15.97%​  SGP  *	3.940	*​  9,168,295,526​  0.2434​  6.18%​  0.2400​  * 6.09%​ *  16.19​  3.52​  11.93%​ 	WFD	 *	7.430	*​  15,440,191,507​  0.4380​  5.90%​  0.4380​  * 5.90%​ *  16.96​  0.00​  #DIV/0!​ 


*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		4-Jul-14				11-Jul-14		  	Abacus Property	 ABP  2.480​  2.500​  0.020​  0.81%​ 	Australand_Property	 ALZ  4.480​  4.470​  -0.010​  -0.22%​ 	BWP Trust	 BWP  2.470​  2.530​  0.060​  2.43%​ 	CFS Retail Trust	 CFX  2.040​  2.050​  0.010​  0.49%​ 	Charter Hall	 CHC  4.210​  4.160​  -0.050​  -1.19%​ 	Charter Hall Retail	 CQR  3.840​  3.880​  0.040​  1.04%​ 	Cromwell	 CMW  0.995​  0.995​  0.000​  0.00%​ 	Dexus	 DXS  1.125​  1.140​  0.015​  1.33%​ 	Federation Centres	 FDC  2.460​  2.460​  0.000​  0.00%​ 	Goodman Group	 GMG  5.090​  5.120​  0.030​  0.59%​ 	GPT Group	 GPT  3.860​  3.880​  0.020​  0.52%​ 	Investa Office	 IOF  3.420​  3.420​  0.000​  0.00%​ 	Mirvac Group	 MGR  1.770​  1.775​  0.005​  0.28%​ 	SCA Property Group	 SCP  1.745​  1.745​  0.000​  0.00%​ 	Scentre Group		SCG	 3.150​  3.340​  0.190​  *	6.03%	*​ 	Stockland Property	 SGP  3.900​  3.940​  0.040​  1.03%​ 	Westfield Corporation		WFD	 7.290​  7.430​  0.140​  1.92%​ 


Scentre Group and Westfield are both up this week. No doubt these two heavy weights can take some credit for the sector lift as well.

*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector (I have removed the Aveo Group, Challenger Diversified, Westfield Group & Westfield Trust from the list).

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 20 June 2014, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have been updated as at 20 June 2014. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Discount to NTA"  also.

*4.* The figures for SCG and WFD are based on the proposal issued 4 December 2013. The issued shares are correct but the Earnings and Distributions are based on the December proposal 2014 forecast earnings. 

*5.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## coolcup (12 July 2014)

I agree, the gradual improvement does give some faith that this is a more sustainable rise. Of course, a lot depends on the outlook for interest rates and many are expecting local and international rates to remain low for longer which is adding to the support.

Reporting season should be a big plus. None of the large cap REITs should disappoint given the generally reliable nature of the earnings and the reporting season should meet or exceed expectations in my view. Another year of steady underlying profit performance should provide a solid base for further outperformance.


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## nulla nulla (20 July 2014)

*A-REIT Sector:  Weekending Friday 18 July 2014 *

Last weeks post must have been made in haste and I forgot to update the date in the header, inadvertently posting the results as "week ending 4 July 2014" instead of "11 July 2014". 

This week the market again finished stronger however the closing prices fail to reflect the inter-week and inter-day price action of most of the shares in the sector. On Monday, Tuesday and Wednesday there appeared to be some scrambling by traders to close out shorts pushing prices up when the "Business Confidence" figures were released, followed by reversals on Thursday and Friday, exaggerated by what appeared to be "stop loss" selling. Fortunately for those shares sold down there appeared to be strong support soaking up the sellers with the sector finishing ahead for the week.  All in all a volatile week with several trade opportunities.




The *A-REIT Table* for closing prices for week ending * 18 July 2014* follows:


	Code				Closing Price					Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Premium to NTA		           ABP  *	2.540	*​  1,305,001,045​  0.1846​  7.27%​  0.1650​  * 6.50%​ *  13.76​  2.34​  8.55%​  ALZ  *	4.500	*​  2,605,430,376​  0.2340​  5.20%​  0.2150​  * 4.78%​ *  19.23​  3.57​  26.05%​  BWP  *	2.540	*​  1,611,363,795​  0.2276​  8.96%​  0.1392​  * 5.48%​ *  11.16​  2.02​  25.74%​  CFX  *	2.110	*​  6,368,087,209​  0.1255​  5.95%​  0.1360​  * 6.45%​ *  16.81​  2.02​  4.46%​  CHC  *	4.200	*​  1,461,287,344​  0.1760​  4.19%​  0.2140​  * 5.10%​ *  23.86​  2.15​  95.35%​  CQR  *	4.000	*​  1,476,163,000​  0.1714​  4.29%​  0.2715​  * 6.79%​ *  23.34​  3.36​  19.05%​  CMW  *	0.990	*​  1,710,008,042​  0.0614​  6.20%​  0.0750​  * 7.58%​ *  16.12​  0.71​  39.44%​  DXS  *	1.160	*​  6,240,208,196​  0.1081​  9.32%​  0.0618​  * 5.33%​ *  10.73​  1.08​  7.41%​  FDC  *	2.530	*​  3,611,933,159​  0.2247​  8.88%​  0.1530​  * 6.05%​ *  11.26​  2.30​  10.00%​  GMG  *	5.210	*​  9,001,243,935​  0.0939​  1.80%​  0.2005​  * 3.85%​ *  55.48​  2.73​  90.84%​  GPT  *	3.860	*​  6,505,879,286​  0.3150​  8.16%​  0.2040​  * 5.28%​ *  12.25​  3.79​  1.85%​  IOF  *	3.540	*​  2,173,728,001​  0.2622​  7.41%​  0.1850​  * 5.23%​ *  13.50​  3.24​  9.26%​  MGR  *	1.810	*​  6,683,026,387​  0.0914​  5.05%​  0.0890​  * 4.92%​ *  19.80​  1.65​  9.70%​  SCP  *	1.760	*​  1,141,585,843​  0.1220​  6.93%​  0.1100​  * 6.25%​ *  14.43​  1.59​  10.69%​ 	SCG	 *	3.330	*​  2,159,932,306​  0.2150​  6.46%​  0.2150​  * 6.46%​ *  15.49​  2.88​  15.63%​  SGP  *	4.040	*​  9,400,993,382​  0.2434​  6.02%​  0.2400​  * 5.94%​ *  16.60​  3.52​  14.77%​ 	WFD	 *	7.460	*​  15,502,534,138​  0.4380​  5.87%​  0.4380​  * 5.87%​ *  17.03​  0.00​  #DIV/0!​ 


*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		11-Jul-14				18-Jul-14		  	Abacus Property	 ABP  2.500​  2.540​  0.040​  1.60%​ 	Australand_Property	 ALZ  4.470​  4.500​  0.030​  0.67%​ 	BWP Trust	 BWP  2.530​  2.540​  0.010​  0.40%​ 	CFS Retail Trust	 CFX  2.050​  2.110​  0.060​  2.93%​ 	Charter Hall	 CHC  4.160​  4.200​  0.040​  0.96%​ 	Charter Hall Retail	 CQR  3.880​  4.000​  0.120​  3.09%​ 	Cromwell	 CMW  0.995​  0.990​  -0.005​  -0.50%​ 	Dexus	 DXS  1.140​  1.160​  0.020​  1.75%​ 	Federation Centres	 FDC  2.460​  2.530​  0.070​  2.85%​ 	Goodman Group	 GMG  5.120​  5.210​  0.090​  1.76%​ 	GPT Group	 GPT  3.880​  3.860​  -0.020​  -0.52%​ 	Investa Office	 IOF  3.420​  3.540​  0.120​  *	3.51%	*​ 	Mirvac Group	 MGR  1.775​  1.810​  0.035​  1.97%​ 	SCA Property Group	 SCP  1.745​  1.760​  0.015​  0.86%​ 	Scentre Group		SCG	 3.340​  3.330​  -0.010​  -0.30%​ 	Stockland Property	 SGP  3.940​  4.040​  0.100​  2.54%​ 	Westfield Corporation		WFD	 7.430​  7.460​  0.030​  0.40%​ 


*Comments:*

*1.* The shares listed in the tables above make up the current XPJ A-REIT Property Sector. 

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 20 June 2014, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have been updated as at 20 June 2014. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Discount to NTA"  also.

*4.* The figures for SCG and WFD are based on the proposal issued 4 December 2013. The issued shares are correct but the Earnings and Distributions are based on the December proposal 2014 forecast earnings. 

*5.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (27 July 2014)

*A-REIT Sector:  Weekending Friday 25 July 2014 *

This week the market again finished stronger following a similar pattern to last week with solid gains from Monday to Wednesday followed by a slight retrace on Thursday and Friday. Once again the closing prices, showing mostly modest gains, fail to reflect the inter-week and inter-day price action of most of the shares in the sector. Good volumes and good spreads making for a volatile week with several trade opportunities. The best example for the week was GPT's rebound from the low $3.85 - $3.87 support area to test $4.07 before closing out the week on $4.03. A gain for the week of 4.4%.




The *A-REIT Table* for closing prices for week ending * 25 July 2014* follows:


	Code				Closing Price					Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Premium to NTA		           ABP  *	2.590	*​  1,330,690,042​  0.1846​  7.13%​  0.1650​  * 6.37%​ *  14.03​  2.34​  10.68%​  ALZ  *	4.510	*​  2,611,220,221​  0.2340​  5.19%​  0.2150​  * 4.77%​ *  19.27​  3.57​  26.33%​  BWP  *	2.550	*​  1,617,707,747​  0.2276​  8.93%​  0.1392​  * 5.46%​ *  11.20​  2.02​  26.24%​  CFX  *	2.160	*​  6,518,989,750​  0.1255​  5.81%​  0.1360​  * 6.30%​ *  17.21​  2.02​  6.93%​  CHC  *	4.230	*​  1,471,725,110​  0.1760​  4.16%​  0.2140​  * 5.06%​ *  24.03​  2.15​  96.74%​  CQR  *	4.020	*​  1,483,543,815​  0.1714​  4.26%​  0.2715​  * 6.75%​ *  23.45​  3.36​  19.64%​  CMW  *	1.005	*​  1,735,917,254​  0.0614​  6.11%​  0.0750​  * 7.46%​ *  16.37​  0.71​  41.55%​  DXS  *	1.165	*​  6,267,105,645​  0.1081​  9.28%​  0.0618​  * 5.30%​ *  10.78​  1.08​  7.87%​  FDC  *	2.580	*​  3,683,315,238​  0.2247​  8.71%​  0.1530​  * 5.93%​ *  11.48​  2.30​  12.17%​  GMG  *	5.230	*​  9,035,797,654​  0.0939​  1.80%​  0.2005​  * 3.83%​ *  55.70​  2.73​  91.58%​  GPT  *	4.030	*​  6,792,407,649​  0.3150​  7.82%​  0.2040​  * 5.06%​ *  12.79​  3.79​  6.33%​  IOF  *	3.480	*​  2,136,885,154​  0.2622​  7.53%​  0.1850​  * 5.32%​ *  13.27​  3.24​  7.41%​  MGR  *	1.800	*​  6,646,103,590​  0.0914​  5.08%​  0.0890​  * 4.94%​ *  19.69​  1.65​  9.09%​  SCP  *	1.810	*​  1,174,017,259​  0.1220​  6.74%​  0.1100​  * 6.08%​ *  14.84​  1.59​  13.84%​ 	SCG	 *	3.370	*​  2,185,877,438​  0.2150​  6.38%​  0.2150​  * 6.38%​ *  15.67​  2.88​  17.01%​  SGP  *	4.060	*​  9,447,532,954​  0.2434​  6.00%​  0.2400​  * 5.91%​ *  16.68​  3.52​  15.34%​ 	WFD	 *	7.480	*​  15,544,095,891​  0.4380​  5.86%​  0.4380​  * 5.86%​ *  17.08​  0.00​  #DIV/0!​ 


*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		18-Jul-14				25-Jul-14		  	Abacus Property	 ABP  2.540​  2.590​  0.050​  1.97%​ 	Australand_Property	 ALZ  4.500​  4.510​  0.010​  0.22%​ 	BWP Trust	 BWP  2.540​  2.550​  0.010​  0.39%​ 	CFS Retail Trust	 CFX  2.110​  2.160​  0.050​  2.37%​ 	Charter Hall	 CHC  4.200​  4.230​  0.030​  0.71%​ 	Charter Hall Retail	 CQR  4.000​  4.020​  0.020​  0.50%​ 	Cromwell	 CMW  0.990​  1.005​  0.015​  1.52%​ 	Dexus	 DXS  1.160​  1.165​  0.005​  0.43%​ 	Federation Centres	 FDC  2.530​  2.580​  0.050​  1.98%​ 	Goodman Group	 GMG  5.210​  5.230​  0.020​  0.38%​ 	GPT Group	 GPT  3.860​  4.030​  0.170​  *	4.40%	*​ 	Investa Office	 IOF  3.540​  3.480​  -0.060​  -1.69%​ 	Mirvac Group	 MGR  1.810​  1.800​  -0.010​  -0.55%​ 	SCA Property Group	 SCP  1.760​  1.810​  0.050​  2.84%​ 	Scentre Group		SCG	 3.330​  3.370​  0.040​  1.20%​ 	Stockland Property	 SGP  4.040​  4.060​  0.020​  0.50%​ 	Westfield Corporation		WFD	 7.460​  7.480​  0.020​  0.27%​ 


*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector (I have removed the Aveo Group, Challenger Diversified, Westfield Group & Westfield Trust from the list).

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 20 June 2014, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have been updated as at 20 June 2014. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Discount to NTA"  also.

*4.* The figures for SCG and WFD are based on the proposal issued 4 December 2013. The issued shares are correct but the Earnings and Distributions are based on the December proposal 2014 forecast earnings. 

*5.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## IFocus (27 July 2014)

Just had a look through the charts for the various codes and see that they were smashed 2008 is there any easy reason why no recovery even near the highs 2007, was the sector just severely over heated / valued?


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## nulla nulla (2 August 2014)

IFocus said:


> Just had a look through the charts for the various codes and see that they were smashed 2008 is there any easy reason why no recovery even near the highs 2007, was the sector just severely over heated / valued?




Sorry I didn't see your query earlier. 

Yes overheated and overvalued. From memory most of the companies were borrowing relatively cheap money fairly heavily to expand. Debt gearing was typically well in excess of 60%. In my opinion this expansion funded by borrowing inflated property values globally (Aussie REIT's were also buying into overseas properties). While they were paying high yield dividends (and most of them were paying quarterly dividends) they were effectively paying the dividends from borrowings rather than earnings. For years those high yield dividends shares were the darlings of all the self funded retirees.

2008 was a reality check. Property values dropped, interest rates climbed, cheap money dried up. Share prices (which were at high multiples of earnings levels) started dropping and dropped faster as the big banks started shorting the REIT's. Some REIT's went to the wall, those with offshore investments decided to unload them and most off the A-REIT's went back to the share holders to raise capital to reduce debt. Dividends stopped or were severely reduced etc.

Today it is a completely changed environment. Borrowing/debt gearing ratios are typically less than 35%, some even in the low 20%. Dividends are paid  from earnings with most trying to pay around about 80% of funds from operations into distributions. Most A-REIT's are only paying two (2) divs a year in line with the rest of the listed companies and the average share price earnings for the sector is around 15-16. If anything the sector is now under heated and possibly under valued (there are exceptions within the sector.) However the sector still attracts a lot of interest particularly from foreign investors wanting to get a foothold in our commercial property sector. The volatility of the sector also encourages day traders (although there seems to be less of them around lately).

This of course is my unqualified opinion and likely to be completely wrong.


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## nulla nulla (2 August 2014)

*A-REIT Sector:  Weekending Friday 01 August 2014 *

The early gains for the week, for most of the shares in the sector, were wiped out on Friday as the Australian share market followed the overnight lead of global markets. Shedding 1.4% in one day as investors around the world reacted to news that Argentina had defaulted on its bonds, a Portugese bank is in trouble, Europe is nervous about the sanctions being applied to Russia (over the Ukraine crisis) and the "trouble" in the Gaza Strip. Global markets fell further again overnight and we may see further falls on Monday. I suspect our falls may be tempered somewhat by market expectations of good local reporting in the next few weeks. However, if international investors get nervous, money will once again flow out of our market pushing us down regardless of how good our reporting season is. And the volatility continues.




The *A-REIT Table* for closing prices for week ending * 01 August 2014* follows:


	Code				Closing Price					Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Premium to NTA		           ABP  *	2.540	*​  1,305,001,045​  0.1846​  7.27%​  0.1650​  * 6.50%​ *  13.76​  2.34​  8.55%​  ALZ  *	4.470	*​  2,588,060,840​  0.2340​  5.23%​  0.2150​  * 4.81%​ *  19.10​  3.57​  25.21%​  BWP  *	2.540	*​  1,611,363,795​  0.2276​  8.96%​  0.1392​  * 5.48%​ *  11.16​  2.02​  25.74%​  CFX  *	2.120	*​  6,398,267,717​  0.1255​  5.92%​  0.1360​  * 6.42%​ *  16.89​  2.02​  4.95%​  CHC  *	4.300	*​  1,496,079,899​  0.1760​  4.09%​  0.2140​  * 4.98%​ *  24.43​  2.15​  100.00%​  CQR  *	3.970	*​  1,465,091,778​  0.1714​  4.32%​  0.2715​  * 6.84%​ *  23.16​  3.36​  18.15%​  CMW  *	1.005	*​  1,735,917,254​  0.0614​  6.11%​  0.0750​  * 7.46%​ *  16.37​  0.71​  41.55%​  DXS  *	1.165	*​  6,267,105,645​  0.1081​  9.28%​  0.0618​  * 5.30%​ *  10.78​  1.08​  7.87%​  FDC  *	2.550	*​  3,640,485,991​  0.2247​  8.81%​  0.1530​  * 6.00%​ *  11.35​  2.30​  10.87%​  GMG  *	5.220	*​  9,018,520,795​  0.0939​  1.80%​  0.2005​  * 3.84%​ *  55.59​  2.73​  91.21%​  GPT  *	4.000	*​  6,741,843,820​  0.3150​  7.88%​  0.2040​  * 5.10%​ *  12.70​  3.79​  5.54%​  IOF  *	3.560	*​  2,186,008,950​  0.2622​  7.37%​  0.1850​  * 5.20%​ *  13.58​  3.24​  9.88%​  MGR  *	1.795	*​  6,627,642,191​  0.0914​  5.09%​  0.0890​  * 4.96%​ *  19.64​  1.65​  8.79%​  SCP  *	1.765	*​  1,144,828,985​  0.1220​  6.91%​  0.1100​  * 6.23%​ *  14.47​  1.59​  11.01%​ 	SCG	 *	3.330	*​  2,159,932,306​  0.2150​  6.46%​  0.2150​  * 6.46%​ *  15.49​  2.88​  15.63%​  SGP  *	3.990	*​  9,284,644,454​  0.2434​  6.10%​  0.2400​  * 6.02%​ *  16.39​  3.52​  13.35%​ 	WFD	 *	7.320	*​  15,211,601,862​  0.4380​  5.98%​  0.4380​  * 5.98%​ *  16.71​  0.00​  #DIV/0!​ 


*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		25-Jul-14				1-Aug-14		  	Abacus Property	 ABP  2.590​  2.540​  -0.050​  -1.93%​ 	Australand_Property	 ALZ  4.510​  4.470​  -0.040​  -0.89%​ 	BWP Trust	 BWP  2.550​  2.540​  -0.010​  -0.39%​ 	CFS Retail Trust	 CFX  2.160​  2.120​  -0.040​  -1.85%​ 	Charter Hall	 CHC  4.230​  4.300​  0.070​  1.65%​ 	Charter Hall Retail	 CQR  4.020​  3.970​  -0.050​  -1.24%​ 	Cromwell	 CMW  1.005​  1.005​  0.000​  0.00%​ 	Dexus	 DXS  1.165​  1.165​  0.000​  0.00%​ 	Federation Centres	 FDC  2.580​  2.550​  -0.030​  -1.16%​ 	Goodman Group	 GMG  5.230​  5.220​  -0.010​  -0.19%​ 	GPT Group	 GPT  4.030​  4.000​  -0.030​  -0.74%​ 	Investa Office	 IOF  3.480​  3.560​  0.080​  *	2.30%	*​ 	Mirvac Group	 MGR  1.800​  1.795​  -0.005​  -0.28%​ 	SCA Property Group	 SCP  1.810​  1.765​  -0.045​  -2.49%​ 	Scentre Group		SCG	 3.370​  3.330​  -0.040​  -1.19%​ 	Stockland Property	 SGP  4.060​  3.990​  -0.070​  -1.72%​ 	Westfield Corporation		WFD	 7.480​  7.320​  -0.160​  -2.14%​ 


Investa Office held up well on Friday making it the best performer in the sector for the week with a 2.3% gain while Dexus claimed the title of "most improved" for the month with a 3.1% gain since 27 June 2014. 

*Comments:*


*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector. 

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 20 June 2014, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have been updated as at 20 June 2014. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The figures for SCG and WFD are based on the proposal issued 4 December 2013. The issued shares are correct but the Earnings and Distributions are based on the December proposal 2014 forecast earnings. 

*5.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (10 August 2014)

*A-REIT Sector:  Weekending Friday 08 August 2014 *

That nasty Mr Putin. Rather than play nice and stop supplying the Russian separatists in the Ukraine with tanks and ground to air missiles as requested by the UN, he thumbs his nose at the UN sanctions on Russia by putting his own sanctions on the rest of the world. That'll teach us not to interfere with his plans. European Markets and the Dow all headed further south following on from the previous weeks dramas in Portugal, Argentina and Israel/Palestine. Then global markets were spooked by the news that the U.S has initiated Air strikes against ISIS extremists in Iraq to protect American citizens and American assets.  

Most of the gains in the A-REIT sector since the start of this fiscal year were wiped out last week. GPT was among the few shares to hold up to any extent, while the rest of the sector dropped to previous entry points (and lower). The volatility continues. What is it that Mr W Buffet says "Be bold when every one is being afraid and afraid when every one else is being bold.." 




The *A-REIT Table* for closing prices for week ending * 08 August 2014* follows:


	Code				Closing Price					Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Premium to NTA		           ABP  *	2.470	*​  1,269,036,449​  0.1846​  7.47%​  0.1650​  * 6.68%​ *  13.38​  2.34​  5.56%​  ALZ  *	4.490	*​  2,599,640,531​  0.2340​  5.21%​  0.2150​  * 4.79%​ *  19.19​  3.57​  25.77%​  BWP  *	2.430	*​  1,541,580,324​  0.2276​  9.37%​  0.1392​  * 5.73%​ *  10.68​  2.02​  20.30%​  CFX  *	2.050	*​  6,187,004,161​  0.1255​  6.12%​  0.1360​  * 6.63%​ *  16.33​  2.02​  1.49%​  CHC  *	4.190	*​  1,457,808,088​  0.1760​  4.20%​  0.2140​  * 5.11%​ *  23.81​  2.15​  94.88%​  CQR  *	3.840	*​  1,417,116,480​  0.1714​  4.46%​  0.2715​  * 7.07%​ *  22.40​  3.36​  14.29%​  CMW  *	0.970	*​  1,675,462,425​  0.0614​  6.33%​  0.0750​  * 7.73%​ *  15.80​  0.71​  36.62%​  DXS  *	1.115	*​  5,998,131,154​  0.1081​  9.70%​  0.0618​  * 5.54%​ *  10.31​  1.08​  3.24%​  FDC  *	2.500	*​  3,569,103,913​  0.2247​  8.99%​  0.1530​  * 6.12%​ *  11.13​  2.30​  8.70%​  GMG  *	5.070	*​  8,759,367,898​  0.0939​  1.85%​  0.2005​  * 3.95%​ *  53.99​  2.73​  85.71%​  GPT  *	4.000	*​  6,741,843,820​  0.3150​  7.88%​  0.2040​  * 5.10%​ *  12.70​  3.79​  5.54%​  IOF  *	3.470	*​  2,130,744,679​  0.2622​  7.56%​  0.1850​  * 5.33%​ *  13.23​  3.24​  7.10%​  MGR  *	1.750	*​  6,461,489,601​  0.0914​  5.22%​  0.0890​  * 5.09%​ *  19.15​  1.65​  6.06%​  SCP  *	1.700	*​  1,102,668,144​  0.1220​  7.18%​  0.1100​  * 6.47%​ *  13.93​  1.59​  6.92%​ 	SCG	 *	3.300	*​  2,140,473,456​  0.2150​  6.52%​  0.2150​  * 6.52%​ *  15.35​  2.88​  14.58%​  SGP  *	3.970	*​  9,238,104,883​  0.2434​  6.13%​  0.2400​  * 6.05%​ *  16.31​  3.52​  12.78%​ 	WFD	 *	7.250	*​  15,066,135,724​  0.4380​  6.04%​  0.4380​  * 6.04%​ *  16.55​  0.00​  #DIV/0!​ 


*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		1-Aug-14				8-Aug-14		  	Abacus Property	 ABP  2.540​  2.470​  -0.070​  -2.76%​ 	Australand_Property	 ALZ  4.470​  4.490​  0.020​  0.45%​ 	BWP Trust	 BWP  2.540​  2.430​  -0.110​  -4.33%​ 	CFS Retail Trust	 CFX  2.120​  2.050​  -0.070​  -3.30%​ 	Charter Hall	 CHC  4.300​  4.190​  -0.110​  -2.56%​ 	Charter Hall Retail	 CQR  3.970​  3.840​  -0.130​  -3.27%​ 	Cromwell	 CMW  1.005​  0.970​  -0.035​  -3.48%​ 	Dexus	 DXS  1.165​  1.115​  -0.050​  -4.29%​ 	Federation Centres	 FDC  2.550​  2.500​  -0.050​  -1.96%​ 	Goodman Group	 GMG  5.220​  5.070​  -0.150​  -2.87%​ 	GPT Group	 GPT  4.000​  4.000​  0.000​  0.00%​ 	Investa Office	 IOF  3.560​  3.470​  -0.090​  -2.53%​ 	Mirvac Group	 MGR  1.795​  1.750​  -0.045​  -2.51%​ 	SCA Property Group	 SCP  1.765​  1.700​  -0.065​  -3.68%​ 	Scentre Group		SCG	 3.330​  3.300​  -0.030​  -0.90%​ 	Stockland Property	 SGP  3.990​  3.970​  -0.020​  -0.50%​ 	Westfield Corporation		WFD	 7.320​  7.250​  -0.070​  -0.96%​ 


*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector. 

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 20 June 2014, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have been updated as at 20 June 2014. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The figures for SCG and WFD are based on the proposal issued 4 December 2013. The issued shares are correct but the Earnings and Distributions are based on the December proposal 2014 forecast earnings. 

*5.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (17 August 2014)

*A-REIT Sector:  Weekending Friday 15 August 2014 *

Last Friday, Australian Eastern Standard Time, the world was coming to an end and the A-REIT property index was diving for the floor as investors pulled out their cash and played the "run away and hide" game. By 4:10pm, after our market had closed, the index had shed near enough 2% for the week.  The gains in the A-REIT sector since the start of this fiscal year had been wiped out. 

This week the market rebounded to close out almost at the highs of May 2013. Incredibly the forecasts are for further growth, higher returns and improved distributions. Where to now? 




The *A-REIT Table* for closing prices for week ending * 15 August 2014* follows:


	Code				Closing Price					Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Premium to NTA		           ABP  *	2.570	*​  1,320,414,443​  0.1846​  7.18%​  0.1675​  * 6.52%​ *  13.92​  2.34​  9.83%​  ALZ  *	4.480	*​  2,606,454,691​  0.3080​  6.88%​  0.2375​  * 5.30%​ *  14.55​  3.68​  21.74%​  BWP  *	2.560	*​  1,624,051,699​  0.2434​  9.51%​  0.1471​  * 5.75%​ *  10.52​  2.07​  23.67%​  CFX  *	2.110	*​  6,368,087,209​  0.1255​  5.95%​  0.1360​  * 6.45%​ *  16.81​  2.02​  4.46%​  CHC  *	4.360	*​  1,517,233,182​  0.1760​  4.04%​  0.2230​  * 5.11%​ *  24.77​  2.15​  102.79%​  CQR  *	3.940	*​  1,454,020,555​  0.1714​  4.35%​  0.2730​  * 6.93%​ *  22.99​  3.36​  17.26%​  CMW  *	1.005	*​  1,735,917,254​  0.0614​  6.11%​  0.0762​  * 7.58%​ *  16.37​  0.71​  41.55%​  DXS  *	1.170	*​  6,356,739,648​  0.0826​  7.06%​  0.0626​  * 5.35%​ *  14.16​  1.06​  10.38%​  FDC  *	2.590	*​  3,697,591,653​  0.2247​  8.68%​  0.1530​  * 5.91%​ *  11.53​  2.30​  12.61%​  GMG  *	5.340	*​  9,225,843,112​  0.1000​  1.87%​  0.2070​  * 3.88%​ *  53.40​  2.88​  85.42%​  GPT  *	4.050	*​  6,826,116,868​  0.3045​  7.52%​  0.2080​  * 5.14%​ *  13.30​  3.82​  6.02%​  IOF  *	3.620	*​  2,222,851,798​  0.2622​  7.24%​  0.1850​  * 5.11%​ *  13.81​  3.24​  11.73%​  MGR  *	1.850	*​  6,830,717,578​  0.0914​  4.94%​  0.0900​  * 4.86%​ *  20.24​  1.65​  12.12%​  SCP  *	1.745	*​  1,131,856,418​  0.1220​  6.99%​  0.1100​  * 6.30%​ *  14.30​  1.59​  9.75%​ 	SCG	 *	3.500	*​  18,635,038,373​  0.2150​  6.14%​  0.2150​  * 6.14%​ *  16.28​  2.88​  21.53%​  SGP  *	4.140	*​  9,633,691,238​  0.2434​  5.88%​  0.2400​  * 5.80%​ *  17.01​  3.52​  17.61%​ 	WFD	 *	7.520	*​  15,627,221,655​  0.4380​  5.82%​  0.4380​  * 5.82%​ *  17.17​  0.00​  #DIV/0!​ 


*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		8-Aug-14				15-Aug-14		  	Abacus Property	 ABP  2.470​  2.570​  0.100​  4.05%​ 	Australand_Property	 ALZ  4.490​  4.480​  -0.010​  -0.22%​ 	BWP Trust	 BWP  2.430​  2.560​  0.130​  5.35%​ 	CFS Retail Trust	 CFX  2.050​  2.110​  0.060​  2.93%​ 	Charter Hall	 CHC  4.190​  4.360​  0.170​  4.06%​ 	Charter Hall Retail	 CQR  3.840​  3.940​  0.100​  2.60%​ 	Cromwell	 CMW  0.970​  1.005​  0.035​  3.61%​ 	Dexus	 DXS  1.115​  1.170​  0.055​  4.93%​ 	Federation Centres	 FDC  2.500​  2.590​  0.090​  3.60%​ 	Goodman Group	 GMG  5.070​  5.340​  0.270​  5.33%​ 	GPT Group	 GPT  4.000​  4.050​  0.050​  1.25%​ 	Investa Office	 IOF  3.470​  3.620​  0.150​  4.32%​ 	Mirvac Group	 MGR  1.750​  1.850​  0.100​  5.71%​ 	SCA Property Group	 SCP  1.700​  1.745​  0.045​  2.65%​ 	Scentre Group		SCG	 3.300​  3.500​  0.200​  *	6.06%	*​ 	Stockland Property	 SGP  3.970​  4.140​  0.170​  4.28%​ 	Westfield Corporation		WFD	 7.250​  7.520​  0.270​  3.72%​ 

Biggest mover for the week was Scentre with a 6.6% jump. Excellent short term return for those willing (brave enough) to jump into the falling market of 8 August 2014. 

*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector. 

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 15 August 2014, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have been updated as at 15 August 2014. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The figures for SCG and WFD are based on the proposal issued 4 December 2013. The issued shares are correct but the Earnings and Distributions are based on the December proposal 2014 forecast earnings. These figures will be adjusted as and when Scentre/Westfields release their respective figures. 

*5.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (23 August 2014)

*A-REIT Sector:  Weekending Friday 22 August 2014 *

With the reporting season in full swing and forecasts for further growth; higher returns; and improved distributions, the A-REIT market seems to have ventured into "irrational exuberance" mode, pushing the A-REIT index to a five (5) year high. Surprisingly, some of the price/earnings ratios for A-REIT's are below the industry average of mid 16's suggesting that there is still scope for further share price increases for some shares, while others are looking decidedly toppy. 

No doubt the volatility will continue. Mergers, acquisitions, shedding of non core assest, asset purchases, developments coming on line, continuing low interest rates, improving consumer confidence, improving business confidence, improved occupancy levels (office, retail & industrial) etc, etc. 2014-2015 looks like being a very interesting year.




The *A-REIT Table* for closing prices for week ending * 22 August 2014* follows:


	Code				Closing Price					Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Premium to NTA		           ABP  *	2.690	*​  1,382,068,036​  0.1846​  6.86%​  0.1675​  * 6.23%​ *  14.57​  2.34​  14.96%​  ALZ  *	4.480	*​  2,606,454,691​  0.3080​  6.88%​  0.2375​  * 5.30%​ *  14.55​  3.68​  21.74%​  BWP  *	2.660	*​  1,687,491,219​  0.2434​  9.15%​  0.1471​  * 5.53%​ *  10.93​  2.07​  28.50%​  CFX  *	2.170	*​  6,549,170,258​  0.1255​  5.78%​  0.1360​  * 6.27%​ *  17.29​  2.02​  7.43%​  CHC  *	4.570	*​  1,590,310,927​  0.1760​  3.85%​  0.2230​  * 4.88%​ *  25.97​  2.15​  112.56%​  CQR  *	4.020	*​  1,483,543,815​  0.1714​  4.26%​  0.2730​  * 6.79%​ *  23.45​  3.36​  19.64%​  CMW  *	1.030	*​  1,779,099,276​  0.0614​  5.96%​  0.0762​  * 7.40%​ *  16.78​  0.71​  45.07%​  DXS  *	1.225	*​  6,655,560,742​  0.0826​  6.74%​  0.0626​  * 5.11%​ *  14.83​  1.06​  15.57%​  FDC  *	2.730	*​  3,897,461,472​  0.2247​  8.23%​  0.1530​  * 5.60%​ *  12.15​  2.30​  18.70%​  GMG  *	5.550	*​  9,588,657,167​  0.1000​  1.80%​  0.2070​  * 3.73%​ *  55.50​  2.88​  92.71%​  GPT  *	4.090	*​  6,893,535,306​  0.3045​  7.44%​  0.2080​  * 5.09%​ *  13.43​  3.82​  7.07%​  IOF  *	3.690	*​  2,265,835,120​  0.2622​  7.11%​  0.1850​  * 5.01%​ *  14.07​  3.24​  13.89%​  MGR  *	1.855	*​  6,849,178,977​  0.0914​  4.93%​  0.0900​  * 4.85%​ *  20.30​  1.65​  12.42%​  SCP  *	1.865	*​  1,209,691,817​  0.1240​  6.65%​  0.1100​  * 5.90%​ *  15.04​  1.64​  13.72%​ 	SCG	 *	3.560	*​  18,954,496,174​  0.2150​  6.04%​  0.2150​  * 6.04%​ *  16.56​  2.88​  23.61%​  SGP  *	4.240	*​  9,866,389,094​  0.2434​  5.74%​  0.2400​  * 5.66%​ *  17.42​  3.53​  20.11%​ 	WFD	 *	7.570	*​  15,731,126,054​  0.4380​  5.79%​  0.4380​  * 5.79%​ *  17.28​  0.00​  #DIV/0!​ 


*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		15-Aug-14				22-Aug-14		  	Abacus Property	 ABP  2.570​  2.690​  0.120​  4.67%​ 	Australand_Property	 ALZ  4.480​  4.480​  0.000​  0.00%​ 	BWP Trust	 BWP  2.560​  2.660​  0.100​  3.91%​ 	CFS Retail Trust	 CFX  2.110​  2.170​  0.060​  2.84%​ 	Charter Hall	 CHC  4.360​  4.570​  0.210​  4.82%​ 	Charter Hall Retail	 CQR  3.940​  4.020​  0.080​  2.03%​ 	Cromwell	 CMW  1.005​  1.030​  0.025​  2.49%​ 	Dexus	 DXS  1.170​  1.225​  0.055​  4.70%​ 	Federation Centres	 FDC  2.590​  2.730​  0.140​  5.41%​ 	Goodman Group	 GMG  5.340​  5.550​  0.210​  3.93%​ 	GPT Group	 GPT  4.050​  4.090​  0.040​  0.99%​ 	Investa Office	 IOF  3.620​  3.690​  0.070​  1.93%​ 	Mirvac Group	 MGR  1.850​  1.855​  0.005​  0.27%​ 	SCA Property Group	 SCP  1.745​  1.865​  0.120​  *	6.88%	*​ 	Scentre Group		SCG	 3.500​  3.560​  0.060​  1.71%​ 	Stockland Property	 SGP  4.140​  4.240​  0.100​  2.42%​ 	Westfield Corporation		WFD	 7.520​  7.570​  0.050​  0.66%​ 


*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector. 

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 15 August 2014, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have been updated as at 15 August 2014. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The figures for SCG and WFD are based on the proposal issued 4 December 2013. The issued shares are correct but the Earnings and Distributions are based on the December proposal 2014 forecast earnings. These figures will be adjusted as and when Scentre/Westfields release their respective figures. 

*5.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (31 August 2014)

*A-REIT Sector:  Weekending Friday 29 August 2014 *

After two (2) weeks of rises the A-REIT sector settled back a little this week as investors came to grips with the Annual Reports and world events. Some share prices  up, some down and some stayed the same. Russia pretends it hasn't moved troops into the Ukraine (the troops are just holidaying in the Ukraine on annual leave) so global markets are a little spooked. Volatility continues.




The *A-REIT Table* for closing prices for week ending * 29 August 2014* follows:


	Code				Closing Price					Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Premium to NTA		           ABP  *	2.700	*​  1,387,205,835​  0.1846​  6.84%​  0.1675​  * 6.20%​ *  14.63​  2.34​  15.38%​  ALZ  *	4.490	*​  2,612,272,670​  0.3080​  6.86%​  0.2375​  * 5.29%​ *  14.58​  3.68​  22.01%​  BWP  *	2.640	*​  1,674,803,315​  0.2434​  9.22%​  0.1471​  * 5.57%​ *  10.85​  2.07​  27.54%​  CFX  *	2.150	*​  6,488,809,242​  0.1255​  5.84%​  0.1360​  * 6.33%​ *  17.13​  2.02​  6.44%​  CHC  *	4.520	*​  1,572,911,464​  0.1760​  3.89%​  0.2230​  * 4.93%​ *  25.68​  2.15​  110.23%​  CQR  *	3.970	*​  1,465,091,778​  0.1714​  4.32%​  0.2730​  * 6.88%​ *  23.16​  3.36​  18.15%​  CMW  *	1.005	*​  1,735,917,254​  0.0614​  6.11%​  0.0762​  * 7.58%​ *  16.37​  0.71​  41.55%​  DXS  *	1.205	*​  6,546,898,526​  0.0826​  6.85%​  0.0626​  * 5.20%​ *  14.59​  1.06​  13.68%​  FDC  *	2.660	*​  3,797,526,563​  0.2247​  8.45%​  0.1530​  * 5.75%​ *  11.84​  2.30​  15.65%​  GMG  *	5.580	*​  9,640,487,746​  0.1000​  1.79%​  0.2070​  * 3.71%​ *  55.80​  2.88​  93.75%​  GPT  *	3.990	*​  6,724,989,210​  0.3045​  7.63%​  0.2080​  * 5.21%​ *  13.10​  3.82​  4.45%​  IOF  *	3.670	*​  2,253,554,171​  0.2622​  7.14%​  0.1850​  * 5.04%​ *  14.00​  3.24​  13.27%​  MGR  *	1.835	*​  6,775,333,382​  0.0914​  4.98%​  0.0900​  * 4.90%​ *  20.08​  1.65​  11.21%​  SCP  *	1.850	*​  1,199,962,392​  0.1240​  6.70%​  0.1100​  * 5.95%​ *  14.92​  1.64​  12.80%​ 	SCG	 *	3.430	*​  18,262,337,606​  0.2150​  6.27%​  0.2150​  * 6.27%​ *  15.95​  2.88​  19.10%​  SGP  *	4.250	*​  9,889,658,880​  0.2434​  5.73%​  0.2400​  * 5.65%​ *  17.46​  3.53​  20.40%​ 	WFD	 *	7.620	*​  15,835,030,453​  0.4380​  5.75%​  0.4380​  * 5.75%​ *  17.40​  0.00​  #DIV/0!​ 


*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		22-Aug-14				29-Aug-14		  	Abacus Property	 ABP  2.690​  2.700​  0.010​  0.37%​ 	Australand_Property	 ALZ  4.480​  4.490​  0.010​  0.22%​ 	BWP Trust	 BWP  2.660​  2.640​  -0.020​  -0.75%​ 	CFS Retail Trust	 CFX  2.170​  2.150​  -0.020​  -0.92%​ 	Charter Hall	 CHC  4.570​  4.520​  -0.050​  -1.09%​ 	Charter Hall Retail	 CQR  4.020​  3.970​  -0.050​  -1.24%​ 	Cromwell	 CMW  1.030​  1.005​  -0.025​  -2.43%​ 	Dexus	 DXS  1.225​  1.205​  -0.020​  -1.63%​ 	Federation Centres	 FDC  2.730​  2.660​  -0.070​  -2.56%​ 	Goodman Group	 GMG  5.550​  5.580​  0.030​  0.54%​ 	GPT Group	 GPT  4.090​  3.990​  -0.100​  -2.44%​ 	Investa Office	 IOF  3.690​  3.670​  -0.020​  -0.54%​ 	Mirvac Group	 MGR  1.855​  1.835​  -0.020​  -1.08%​ 	SCA Property Group	 SCP  1.865​  1.850​  -0.015​  -0.80%​ 	Scentre Group		SCG	 3.560​  3.430​  -0.130​  *	-3.65%	*​ 	Stockland Property	 SGP  4.240​  4.250​  0.010​  0.24%​ 	Westfield Corporation		WFD	 7.570​  7.620​  0.050​  0.66%​ 


*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector. 

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 15 August 2014, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have been updated as at 15 August 2014. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The figures for SCG and WFD are based on the proposal issued 4 December 2013. The issued shares are correct but the Earnings and Distributions are based on the December proposal 2014 forecast earnings. These figures will be adjusted after I have a chance to work out the figures from their recent releases. 

*5.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


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## Toyota Lexcen (31 August 2014)

Thanks for the work with this nulla nulla, i purchased some stocks from the list around start of the year and it has been a surprise the performance so far,


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## nulla nulla (31 August 2014)

While I appreciate your decision to invest in some of the A-REIT's in the list was based on your own research, I'm pleased to hear that the table I post each week has been of some benefit to you, even if only to provide a comparison as to how your investment decisions have panned out. As always do your own research and good luck.  .


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## skc (31 August 2014)

nulla nulla said:


> While I appreciate your decision to invest in some of the A-REIT's in the list was based on your own research, I'm pleased to hear that the table I post each week has been of some benefit to you, even if only to provide a comparison as to how your investment decisions have panned out. As always do your own research and good luck.  .




Hi Nulla,

The REIT's you list are the largest ones. Have you looked at trading/investing some of the smaller ones? Some of them are listed not that long ago and offer substantially higher yields.

Some examples... 
Older ones - GOZ, ABP
Newer ones - TIX, TOF, HPI, NSR, GDI


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## coolcup (1 September 2014)

nulla nulla said:


> While I appreciate your decision to invest in some of the A-REIT's in the list was based on your own research, I'm pleased to hear that the table I post each week has been of some benefit to you, even if only to provide a comparison as to how your investment decisions have panned out. As always do your own research and good luck.  .




Haha, love the "please do not sue me if things go wrong"


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## nulla nulla (1 September 2014)

coolcup said:


> Haha, love the "please do not sue me if things go wrong"


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## nulla nulla (1 September 2014)

skc said:


> Hi Nulla,
> 
> The REIT's you list are the largest ones. Have you looked at trading/investing some of the smaller ones? Some of them are listed not that long ago and offer substantially higher yields.
> 
> ...




Hi skc

The A-REIT list is limited to those shares making up the XPJ A-REIT Property Index.  The list would become too wieldy and time consuming to update if I tried to include all the smaller A-REIT's.  ABP Abacus is on the list the others you mention aren't.

I looked at GOZ a little over a year ago. While the share price has snuck up, probably those investors looking for a sit and hold with the dividend yield. It is still a very illiquid stock (imo) and still doesn't meet our trade/investment criteria. I looked at GDI, HPI, NSR, TIX and TOF and they are pretty much the same as GOZ. Sneaking up over a prolongued period of time but not much room to trade any real volumes in a short period of time.

Maybe someone else could start a thread for the smaller A-REIT's. I see that Joe/System has opened a thread for each of the shares mentioned, but apart from GOZ no-one has posted in the rest of them.


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## agumby (3 September 2014)

Toyota Lexcen said:


> Thanks for the work with this nulla nulla, i purchased some stocks from the list around start of the year and it has been a surprise the performance so far,




I fully agree with your statements here, thanks to nulla nulla it helps me track the sector a bit easier and i have added this thread to my quick links tab. Started investing for my low income wifes long term portfolio about 20 months ago and AREITS now hold 15-20% of that portfolio including 3 from these lists + GOZ. very happy with the return so far and the increases in price is a bonus should i wish to consolidate her gain. But for now i will sit and hold and probably back off on purchasing except for DRP purchases.


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## nulla nulla (6 September 2014)

*A-REIT Sector:  Weekending Friday 05 September 2014 *

Monday through Wednesday saw a quick rally within the A-REIT sector to the peaks of the previous week. However Thursday and Friday saw capitulation as many of the shares retreated to close out near or at the previous weeks closes. At one end of the spectrum Scentre Group closed out the week up 2.04%, while at the other end Charter Hall closed out the week 3.54% down. 

Retail was supposed to be looking all rosy on the back of recent encouraging figures but CFX defied the 1.5% upward trend of BWP, FDC and SCG by going backwards 1.86%. Maybe the CFX holders thought the retail/industrial mix wasn't as promising as the SCG Retail prospects and decided to switch ships. The volatility across the board provided some opportunities for the quick and insane, current economic conditions also giving hope for long term holders in the lead up to December sales.




The *A-REIT Table* for closing prices for week ending * 05 September 2014 * follows:


	Code				Closing Price					Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Premium to NTA		           ABP  *	2.740	*​  1,407,757,033​  0.1846​  6.74%​  0.1675​  * 6.11%​ *  14.84​  2.34​  17.09%​  ALZ  *	4.470	*​  2,600,636,711​  0.3080​  6.89%​  0.2375​  * 5.31%​ *  14.51​  3.68​  21.47%​  BWP  *	2.680	*​  1,700,179,123​  0.2434​  9.08%​  0.1471​  * 5.49%​ *  11.01​  2.07​  29.47%​  CFX  *	2.110	*​  6,368,087,209​  0.1255​  5.95%​  0.1360​  * 6.45%​ *  16.81​  2.02​  4.46%​  CHC  *	4.360	*​  1,517,233,182​  0.1760​  4.04%​  0.2230​  * 5.11%​ *  24.77​  2.15​  102.79%​  CQR  *	4.020	*​  1,483,543,815​  0.1714​  4.26%​  0.2730​  * 6.79%​ *  23.45​  3.36​  19.64%​  CMW  *	1.000	*​  1,727,280,850​  0.0614​  6.14%​  0.0762​  * 7.62%​ *  16.29​  0.71​  40.85%​  DXS  *	1.200	*​  6,519,732,972​  0.0826​  6.88%​  0.0626​  * 5.22%​ *  14.53​  1.06​  13.21%​  FDC  *	2.700	*​  3,854,632,226​  0.2247​  8.32%​  0.1530​  * 5.67%​ *  12.02​  2.30​  17.39%​  GMG  *	5.480	*​  9,467,719,148​  0.1000​  1.82%​  0.2070​  * 3.78%​ *  54.80​  2.88​  90.28%​  GPT  *	4.000	*​  6,741,843,820​  0.3045​  7.61%​  0.2080​  * 5.20%​ *  13.14​  3.82​  4.71%​  IOF  *	3.600	*​  2,210,570,849​  0.2622​  7.28%​  0.1850​  * 5.14%​ *  13.73​  3.24​  11.11%​  MGR  *	1.835	*​  6,775,333,382​  0.0914​  4.98%​  0.0900​  * 4.90%​ *  20.08​  1.65​  11.21%​  SCP  *	1.850	*​  1,199,962,392​  0.1240​  6.70%​  0.1100​  * 5.95%​ *  14.92​  1.64​  12.80%​ 	SCG	 *	3.500	*​  18,635,038,373​  0.2150​  6.14%​  0.2150​  * 6.14%​ *  16.28​  2.88​  21.53%​  SGP  *	4.220	*​  9,819,849,523​  0.2434​  5.77%​  0.2400​  * 5.69%​ *  17.34​  3.53​  19.55%​ 	WFD	 *	7.620	*​  15,835,030,453​  0.4380​  5.75%​  0.4380​  * 5.75%​ *  17.40​  0.00​  #DIV/0!​ 


*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		29-Aug-14				5-Sep-14		  	Abacus Property	 ABP  2.700​  2.740​  0.040​  1.48%​ 	Australand_Property	 ALZ  4.490​  4.470​  -0.020​  -0.45%​ 	BWP Trust	 BWP  2.640​  2.680​  0.040​  1.52%​ 	CFS Retail Trust	 CFX  2.150​  2.110​  -0.040​  -1.86%​ 	Charter Hall	 CHC  4.520​  4.360​  -0.160​  *	-3.54%	*​ 	Charter Hall Retail	 CQR  3.970​  4.020​  0.050​  1.26%​ 	Cromwell	 CMW  1.005​  1.000​  -0.005​  -0.50%​ 	Dexus	 DXS  1.205​  1.200​  -0.005​  -0.41%​ 	Federation Centres	 FDC  2.660​  2.700​  0.040​  1.50%​ 	Goodman Group	 GMG  5.580​  5.480​  -0.100​  -1.79%​ 	GPT Group	 GPT  3.990​  4.000​  0.010​  0.25%​ 	Investa Office	 IOF  3.670​  3.600​  -0.070​  -1.91%​ 	Mirvac Group	 MGR  1.835​  1.835​  0.000​  0.00%​ 	SCA Property Group	 SCP  1.850​  1.850​  0.000​  0.00%​ 	Scentre Group		SCG	 3.430​  3.500​  0.070​  *	2.04%	*​ 	Stockland Property	 SGP  4.250​  4.220​  -0.030​  -0.71%​ 	Westfield Corporation		WFD	 7.620​  7.620​  0.000​  0.00%​ 


*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector. With the 98% acquisition of Australand by the Singapore Fraser based property group, ALZ will shortly be deleted from the sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 15 August 2014, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have been updated as at 15 August 2014. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The figures for SCG and WFD are based on the proposal issued 4 December 2013. The issued shares are correct but the Earnings and Distributions are based on the December proposal 2014 forecast earnings. These figures will be adjusted as and when Scentre/Westfields release their respective figures. 

*5.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## SilverRanger (9 September 2014)

nulla nulla said:


> *A-REIT Sector:  Weekending Friday 05 September 2014 *
> 
> Monday through Wednesday saw a quick rally within the A-REIT sector to the peaks of the previous week. However Thursday and Friday saw capitulation as many of the shares retreated to close out near or at the previous weeks closes. At one end of the spectrum Scentre Group closed out the week up 2.04%, while at the other end Charter Hall closed out the week 3.54% down.
> 
> Retail was supposed to be looking all rosy on the back of recent encouraging figures but CFX defied the 1.5% upward trend of BWP, FDC and SCG by going backwards 1.86%. Maybe the CFX holders thought the retail/industrial mix wasn't as promising as the SCG Retail prospects and decided to switch ships. The volatility across the board provided some opportunities for the quick and insane, current economic conditions also giving hope for long term holders in the lead up to December sales.




There, CFX heard your call and caught up 

Sometimes I really wonder how those rumours got started, last week they were on about WFD being the takeover target, and now CFX.


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## nulla nulla (13 September 2014)

*A-REIT Sector:  Weekending Friday 12 September 2014 *

I don't mind a bit of volatility but I admit this last week I got a bit more than I was ready for. On the one hand Russia is reportedly pulling its' troops out of the Ukraine and America is rallying the "willing" to fight the terrorists but China has slowed steel making and the "Fed" is making sounds of increasing interest rates as early as some time next year. The US$ surged against our Dollar and the Euro. With the fall in our dollar it is likely that some foreign investors started diverting their funds out of our market into US stocks and Bonds. 

There was an improvement in our employment figures but this was offset by a drop in consumer confidence and retail spending. The Myer report was a shocker that saw their share price drop by 20% in two (2) days.Then to put the icing on the cake the US property giant "Simon" announced that there was no truth in the rumours that they were running their ruler over CFX or SCG. 

The Iron Ore price plunged, our dollar plunged, the All Ords plunged and the A-REIT property sector played follow the leader. Now we have to work out whether this is just part of the volatility or the start of something bigger.




The *A-REIT Table* for closing prices for week ending * 12 September 2014 * follows:


	Code				Closing Price					Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Premium to NTA		           ABP  *	2.780	*​  1,430,163,033​  0.2227​  8.01%​  0.1675​  * 6.03%​ *  12.48​  2.38​  16.81%​  ALZ  *	4.470	*​  2,600,636,711​  0.3080​  6.89%​  0.2638​  * 5.90%​ *  14.51​  3.68​  21.47%​  BWP  *	2.570	*​  1,644,092,803​  0.2434​  9.47%​  0.1471​  * 5.72%​ *  10.56​  2.07​  24.15%​  CFX  *	2.090	*​  6,375,243,469​  0.1361​  6.51%​  0.1360​  * 6.51%​ *  15.36​  1.90​  10.00%​  CHC  *	4.350	*​  1,544,317,338​  0.2561​  5.89%​  0.2230​  * 5.13%​ *  16.99​  2.38​  82.77%​  CQR  *	3.970	*​  1,480,385,817​  0.2395​  6.03%​  0.2730​  * 6.88%​ *  16.58​  3.40​  16.76%​  CMW  *	0.995	*​  1,721,415,494​  0.1062​  10.67%​  0.0762​  * 7.66%​ *  9.37​  0.73​  36.30%​  DXS  *	1.165	*​  6,329,574,094​  0.0826​  7.09%​  0.0626​  * 5.37%​ *  14.10​  1.06​  9.91%​  FDC  *	2.640	*​  3,768,973,732​  0.3091​  11.71%​  0.1570​  * 5.95%​ *  8.54​  2.37​  11.39%​  GMG  *	5.320	*​  9,285,622,297​  0.3820​  7.18%​  0.2070​  * 3.89%​ *  13.93​  2.88​  84.72%​  GPT  *	3.940	*​  6,640,716,163​  0.3045​  7.73%​  0.2080​  * 5.28%​ *  12.94​  3.82​  3.14%​  IOF  *	3.460	*​  2,124,604,205​  0.2990​  8.64%​  0.1850​  * 5.35%​ *  11.57​  3.35​  3.28%​  MGR  *	1.765	*​  6,525,553,358​  0.1219​  6.91%​  0.0900​  * 5.10%​ *  14.48​  1.66​  6.33%​  SCP  *	1.785	*​  1,157,801,551​  0.1730​  9.69%​  0.1100​  * 6.16%​ *  10.32​  1.64​  8.84%​ 	SCG	 *	3.390	*​  18,049,365,738​  0.2150​  6.34%​  0.2150​  * 6.34%​ *  15.77​  2.88​  17.71%​  SGP  *	4.140	*​  9,723,811,520​  0.2280​  5.51%​  0.2400​  * 5.80%​ *  18.16​  3.53​  17.28%​ 	WFD	 *	7.600	*​  15,793,481,614​  0.4380​  5.76%​  0.4380​  * 5.76%​ *  17.35​  3.80​  100.00%​ 


*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		5-Sep-14				12-Sep-14		  	Abacus Property	 ABP  2.740​  2.780​  0.040​  1.46%​ 	Australand_Property	 ALZ  4.470​  4.470​  0.000​  0.00%​ 	BWP Trust	 BWP  2.680​  2.570​  -0.110​  *	-4.10%	*​ 	CFS Retail Trust	 CFX  2.110​  2.090​  -0.020​  -0.95%​ 	Charter Hall	 CHC  4.360​  4.350​  -0.010​  -0.23%​ 	Charter Hall Retail	 CQR  4.020​  3.970​  -0.050​  -1.24%​ 	Cromwell	 CMW  1.000​  0.995​  -0.005​  -0.50%​ 	Dexus	 DXS  1.200​  1.165​  -0.035​  -2.92%​ 	Federation Centres	 FDC  2.700​  2.640​  -0.060​  -2.22%​ 	Goodman Group	 GMG  5.480​  5.320​  -0.160​  -2.92%​ 	GPT Group	 GPT  4.000​  3.940​  -0.060​  -1.50%​ 	Investa Office	 IOF  3.600​  3.460​  -0.140​  -3.89%​ 	Mirvac Group	 MGR  1.835​  1.765​  -0.070​  -3.81%​ 	SCA Property Group	 SCP  1.850​  1.785​  -0.065​  -3.51%​ 	Scentre Group		SCG	 3.500​  3.390​  -0.110​  -3.14%​ 	Stockland Property	 SGP  4.220​  4.140​  -0.080​  -1.90%​ 	Westfield Corporation		WFD	 7.620​  7.600​  -0.020​  -0.26%​ 


*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector. With the 98% acquisition of Australand by the Singapore Fraser based property group, I expect that ALZ will shortly be deleted from the sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 12 September 2014, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have been updated as at 12 September. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The figures for SCG and WFD are based on the proposal issued 4 December 2013. The issued shares are correct but the Earnings and Distributions are based on the December proposal 2014 forecast earnings. These figures will be adjusted as and when Scentre/Westfields release their respective figures. 

*5.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## VSntchr (13 September 2014)

nulla nulla said:


> *A-REIT Sector:  Weekending Friday 12 September 2014 *
> 
> I don't mind a bit of volatility but I admit this last week I got a bit more than I was ready for.




Amen to that - it snuck up on us so quickly!


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## nulla nulla (21 September 2014)

*A-REIT Sector:  Weekending Friday 19 September 2014 *

"Take a walk on the wild side" took on new meaning this week as the A-REIT Sector continued to follow the Aud$ down and foreign investors continued to pull their money out of the sector. On Thursday the rate of fall of the Aud$ looked to have slowed and the A-REIT sector also looked like the worst might be over, with a slight turnaround on the day. This was influenced by WDC which was going up while the others fell and SCG that seemed to have scraped a few cents back. Investors must have worked out that the Off-shore base Assets of WDC were beneficial to holders of WDC as income and profit in the allegedly improving US environment convert to even higher returns in Aud$. 

The rate of fall of the Aud$ slowed further on Friday and there was an initial lift in share prices in the A-REIT sector but it was weak on low volumes and sellers returned pushing the prices back toward the previous days lows. Is this the bottom? Can we rebound from here? Or is the Aud$ going to retest the lows of US$0.85 and take the A-REIT Sector down with it?
The continued sell off by foreign investors is pretty stupid in my opinion. The combination of the low Aud$ and low share prices means that the shares are even cheaper for foreign investors. With our improving economy (?) now is the time they should be accumulating not dumping, averaging down their holding costs and improving their yields etc. Go figure eh. 

Two stand out shares in the sector for the market action in the Friday closing auction, were CFX and SCG. Remember, these two (2) were the subject of early speculation as to possible take over activity by the Simon Property Group from the US. Some fifteen million CFX were dumped in the closing auction, fortunately there was enough buyer demand to hold the share price fall to $1.98. SCG turned over more than twenty seven million shares in the auction (for a total turnover for the day of forty seven million shares) lifting the closing price to $3.38. SCG jumped almost six (6) cents in the auction with buy demand surging through seller supply like a sunami. Is there another buyer rumor about to surface?




The *A-REIT Table* for closing prices for week ending * 19 September 2014 * follows:


	Code				Closing Price					Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Premium to NTA		           ABP  *	2.490	*​  1,280,973,364​  0.2227​  8.94%​  0.1675​  * 6.73%​ *  11.18​  2.38​  4.62%​  ALZ  *	4.480	*​  2,606,454,691​  0.3080​  6.88%​  0.2638​  * 5.89%​ *  14.55​  3.68​  21.74%​  BWP  *	2.460	*​  1,573,723,072​  0.2434​  9.89%​  0.1471​  * 5.98%​ *  10.11​  2.07​  18.84%​  CFX  *	1.980	*​  6,039,704,339​  0.1361​  6.87%​  0.1360​  * 6.87%​ *  14.55​  1.90​  4.21%​  CHC  *	4.220	*​  1,498,165,326​  0.2561​  6.07%​  0.2230​  * 5.28%​ *  16.48​  2.38​  77.31%​  CQR  *	3.800	*​  1,416,993,981​  0.2395​  6.30%​  0.2730​  * 7.18%​ *  15.87​  3.40​  11.76%​  CMW  *	1.000	*​  1,730,065,823​  0.1062​  10.62%​  0.0762​  * 7.62%​ *  9.42​  0.73​  36.99%​  DXS  *	1.130	*​  6,139,415,215​  0.0826​  7.31%​  0.0626​  * 5.54%​ *  13.68​  1.06​  6.60%​  FDC  *	2.560	*​  3,654,762,406​  0.3091​  12.07%​  0.1570​  * 6.13%​ *  8.28​  2.37​  8.02%​  GMG  *	5.170	*​  9,023,809,638​  0.3820​  7.39%​  0.2070​  * 4.00%​ *  13.53​  2.88​  79.51%​  GPT  *	3.880	*​  6,539,588,505​  0.3045​  7.85%​  0.2080​  * 5.36%​ *  12.74​  3.82​  1.57%​  IOF  *	3.370	*​  2,069,339,933​  0.2990​  8.87%​  0.1850​  * 5.49%​ *  11.27​  3.35​  0.60%​  MGR  *	1.725	*​  6,377,665,463​  0.1219​  7.07%​  0.0900​  * 5.22%​ *  14.15​  1.66​  3.92%​  SCP  *	1.690	*​  1,096,181,861​  0.1730​  10.24%​  0.1100​  * 6.51%​ *  9.77​  1.64​  3.05%​ 	SCG	 *	3.380	*​  17,996,122,772​  0.2150​  6.36%​  0.2150​  * 6.36%​ *  15.72​  2.88​  17.36%​  SGP  *	3.970	*​  9,324,524,574​  0.2280​  5.74%​  0.2400​  * 6.05%​ *  17.41​  3.53​  12.46%​ 	WFD	 *	7.350	*​  15,273,959,192​  0.4380​  5.96%​  0.4380​  * 5.96%​ *  16.78​  3.80​  93.42%​ 


*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		12-Sep-14				19-Sep-14		  	Abacus Property	 ABP  2.780​  2.490​  -0.290​  *	-10.43%	*​ 	Australand_Property	 ALZ  4.470​  4.480​  0.010​  0.22%​ 	BWP Trust	 BWP  2.570​  2.460​  -0.110​  -4.28%​ 	CFS Retail Trust	 CFX  2.090​  1.980​  -0.110​  *	-5.26%	*​ 	Charter Hall	 CHC  4.350​  4.220​  -0.130​  -2.99%​ 	Charter Hall Retail	 CQR  3.970​  3.800​  -0.170​  -4.28%​ 	Cromwell	 CMW  0.995​  1.000​  0.005​  0.50%​ 	Dexus	 DXS  1.165​  1.130​  -0.035​  -3.00%​ 	Federation Centres	 FDC  2.640​  2.560​  -0.080​  -3.03%​ 	Goodman Group	 GMG  5.320​  5.170​  -0.150​  -2.82%​ 	GPT Group	 GPT  3.940​  3.880​  -0.060​  -1.52%​ 	Investa Office	 IOF  3.460​  3.370​  -0.090​  -2.60%​ 	Mirvac Group	 MGR  1.765​  1.725​  -0.040​  -2.27%​ 	SCA Property Group	 SCP  1.785​  1.690​  -0.095​  *	-5.32%	*​ 	Scentre Group		SCG	 3.390​  3.380​  -0.010​  -0.29%​ 	Stockland Property	 SGP  4.140​  3.970​  -0.170​  -4.11%​ 	Westfield Corporation		WFD	 7.600​  7.350​  -0.250​  -3.29%​ 


With the exception of Scentre Group, retail based A-REIT shares bore the brunt of this weeks sell off, this despite our lower Unemployment figures, improved job creation numbers, improved consumer confidence and improved economy. The volatility continues.

*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector. With the 98% acquisition of Australand by the Singapore Fraser based property group, I expect that ALZ will shortly be deleted from the sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 12 September 2014, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have been updated as at 12 September. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The figures for SCG and WFD are based on the proposal issued 4 December 2013. The issued shares are correct but the Earnings and Distributions are based on the December proposal 2014 forecast earnings. These figures will be adjusted as and when Scentre/Westfields release their respective figures. 

*5.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


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## SilverRanger (21 September 2014)

I guess ABP wasn't so lucky then, similar to CFX, about half the daily volume was dumped at Friday's close auction, and it tanked 2%. It will be interesting to see if the gap closes for these 3 on Monday.


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## nulla nulla (27 September 2014)

*A-REIT Sector:  Weekending Friday 26 September 2014 *

The Aud$ kept falling, the All-ords kept falling but the A-REIT property sector appeared to level off or at least fall at a much slower rate. Slowing growth in China, possible future interest rates increases in the U.S.A, rumours of a property bubble in Australia, jawboning by Glen Stevens and the world going to war against terrorism. 
Apparently 40% of the funds invested in the Australian Share Market has its' origins offshore and a lot of it is being dragged out by nervous investors chasing  security in the US$ on the hint of an official interest rate increase above 0%. A return that will likely as not, not even cover inflation. Go figure. The volatility continues 

*Aud$ v's US$*



*All-Ords*



*Property Sector*



The *A-REIT Table* for closing prices for week ending * 26 September 2014 * follows:


	Code				Closing Price					Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Premium to NTA		           ABP  *	2.550	*​  1,311,840,192​  0.2227​  8.73%​  0.1675​  * 6.57%​ *  11.45​  2.38​  7.14%​  ALZ  *	4.470	*​  2,600,636,711​  0.3080​  6.89%​  0.2638​  * 5.90%​ *  14.51​  3.68​  21.47%​  BWP  *	2.410	*​  1,541,736,831​  0.2434​  10.10%​  0.1471​  * 6.10%​ *  9.90​  2.07​  16.43%​  CFX  *	1.960	*​  5,978,697,225​  0.1361​  6.94%​  0.1360​  * 6.94%​ *  14.40​  1.90​  3.16%​  CHC  *	4.100	*​  1,455,563,468​  0.2561​  6.25%​  0.2230​  * 5.44%​ *  16.01​  2.38​  72.27%​  CQR  *	3.760	*​  1,402,078,255​  0.2395​  6.37%​  0.2730​  * 7.26%​ *  15.70​  3.40​  10.59%​  CMW  *	0.950	*​  1,643,562,532​  0.1062​  11.18%​  0.0762​  * 8.02%​ *  8.95​  0.73​  30.14%​  DXS  *	1.120	*​  6,085,084,107​  0.0826​  7.38%​  0.0626​  * 5.59%​ *  13.56​  1.06​  5.66%​  FDC  *	2.530	*​  3,611,933,159​  0.3091​  12.22%​  0.1570​  * 6.21%​ *  8.19​  2.37​  6.75%​  GMG  *	5.170	*​  9,023,809,638​  0.3820​  7.39%​  0.2070​  * 4.00%​ *  13.53​  2.88​  79.51%​  GPT  *	3.860	*​  6,505,879,286​  0.3045​  7.89%​  0.2080​  * 5.39%​ *  12.68​  3.82​  1.05%​  IOF  *	3.370	*​  2,069,339,933​  0.2990​  8.87%​  0.1850​  * 5.49%​ *  11.27​  3.35​  0.60%​  MGR  *	1.695	*​  6,266,749,542​  0.1219​  7.19%​  0.0900​  * 5.31%​ *  13.90​  1.66​  2.11%​  SCP  *	1.670	*​  1,083,209,294​  0.1730​  10.36%​  0.1100​  * 6.59%​ *  9.65​  1.64​  1.83%​ 	SCG	 *	3.300	*​  17,570,179,037​  0.2150​  6.52%​  0.2150​  * 6.52%​ *  15.35​  2.88​  14.58%​  SGP  *	3.970	*​  9,324,524,574​  0.2280​  5.74%​  0.2400​  * 6.05%​ *  17.41​  3.53​  12.46%​ 	WFD	 *	7.440	*​  15,460,987,264​  0.4380​  5.89%​  0.4380​  * 5.89%​ *  16.99​  3.80​  95.79%​ 


*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		19-Sep-14				26-Sep-14		  	Abacus Property	 ABP  2.490​  2.550​  0.060​  2.41%​ 	Australand_Property	 ALZ  4.480​  4.470​  -0.010​  -0.22%​ 	BWP Trust	 BWP  2.460​  2.410​  -0.050​  -2.03%​ 	CFS Retail Trust	 CFX  1.980​  1.960​  -0.020​  -1.01%​ 	Charter Hall	 CHC  4.220​  4.100​  -0.120​  -2.84%​ 	Charter Hall Retail	 CQR  3.800​  3.760​  -0.040​  -1.05%​ 	Cromwell	 CMW  1.000​  0.950​  -0.050​  *	-5.00%	*​ 	Dexus	 DXS  1.130​  1.120​  -0.010​  -0.88%​ 	Federation Centres	 FDC  2.560​  2.530​  -0.030​  -1.17%​ 	Goodman Group	 GMG  5.170​  5.170​  0.000​  0.00%​ 	GPT Group	 GPT  3.880​  3.860​  -0.020​  -0.52%​ 	Investa Office	 IOF  3.370​  3.370​  0.000​  0.00%​ 	Mirvac Group	 MGR  1.725​  1.695​  -0.030​  -1.74%​ 	SCA Property Group	 SCP  1.690​  1.670​  -0.020​  -1.18%​ 	Scentre Group		SCG	 3.380​  3.300​  -0.080​  -2.37%​ 	Stockland Property	 SGP  3.970​  3.970​  0.000​  0.00%​ 	Westfield Corporation		WFD	 7.350​  7.440​  0.090​  1.22%​ 

Cromwell took a hit this week, but it still pays quarterly dividends and went ex-div this week. 2% of the drop was the dividend component.

*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector. With the 98% acquisition of Australand by the Singapore Fraser based property group, I expect that ALZ will shortly be deleted from the sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 12 September 2014, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have been updated as at 12 September. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The figures for SCG and WFD are based on the proposal issued 4 December 2013. The issued shares are correct but the Earnings and Distributions are based on the December proposal 2014 forecast earnings. These figures will be adjusted as and when Scentre/Westfields release their respective figures. 

*5.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


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## nulla nulla (5 October 2014)

*A-REIT Sector:  Weekending Friday 03 October 2014 *

The A-REIT Sector continues to track sideways despite further falls in the Aud$ and the Australian Economy being compared unfavorably with the supposedly improving US economy. It appears that the share prices of the A-REIT's may have reached the point where their low prices (combined with the falling Aud$) is making them attractive investments to foreign investors chasing yields. While one set of foreign investors are pulling their money out to chase the rainbow of future prospects in the US, other foreign investors are filling the void buying into A-REIT's. 
No doubt our dollar will move one way or the other, on Tuesday following the Reserve Bank meeting, depending of course on further jaw-boning by Glen Stevens. The flow on effect into our market will add to the volatility.




The *A-REIT Table* for closing prices for week ending * 03 October 2014 * follows:


	Code				Closing Price					Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Premium to NTA		           ABP  *	2.590	*​  1,332,418,077​  0.2227​  8.60%​  0.1675​  * 6.47%​ *  11.63​  2.38​  8.82%​  ALZ  *	4.450	*​  2,589,000,753​  0.3080​  6.92%​  0.2638​  * 5.93%​ *  14.45​  3.68​  20.92%​  BWP  *	2.400	*​  1,535,339,582​  0.2434​  10.14%​  0.1471​  * 6.13%​ *  9.86​  2.07​  15.94%​  CFX  *	2.020	*​  6,161,718,569​  0.1361​  6.74%​  0.1360​  * 6.73%​ *  14.84​  1.90​  6.32%​  CHC  *	4.100	*​  1,455,563,468​  0.2561​  6.25%​  0.2230​  * 5.44%​ *  16.01​  2.38​  72.27%​  CQR  *	3.850	*​  1,435,638,639​  0.2395​  6.22%​  0.2730​  * 7.09%​ *  16.08​  3.40​  13.24%​  CMW  *	0.955	*​  1,652,212,861​  0.1062​  11.12%​  0.0762​  * 7.98%​ *  8.99​  0.73​  30.82%​  DXS  *	1.125	*​  6,112,249,661​  0.0826​  7.34%​  0.0626​  * 5.56%​ *  13.62​  1.06​  6.13%​  FDC  *	2.570	*​  3,669,038,822​  0.3091​  12.03%​  0.1570​  * 6.11%​ *  8.31​  2.37​  8.44%​  GMG  *	5.300	*​  9,250,713,943​  0.3820​  7.21%​  0.2070​  * 3.91%​ *  13.87​  2.88​  84.03%​  GPT  *	3.870	*​  6,522,733,896​  0.3045​  7.87%​  0.2080​  * 5.37%​ *  12.71​  3.82​  1.31%​  IOF  *	3.380	*​  2,075,480,408​  0.2990​  8.85%​  0.1850​  * 5.47%​ *  11.30​  3.35​  0.90%​  MGR  *	1.685	*​  6,229,777,568​  0.1219​  7.23%​  0.0900​  * 5.34%​ *  13.82​  1.66​  1.51%​  SCP  *	1.710	*​  1,109,154,427​  0.1730​  10.12%​  0.1100​  * 6.43%​ *  9.88​  1.64​  4.27%​ 	SCG	 *	3.330	*​  17,729,907,938​  0.2150​  6.46%​  0.2150​  * 6.46%​ *  15.49​  2.88​  15.63%​  SGP  *	3.960	*​  9,301,037,106​  0.2280​  5.76%​  0.2400​  * 6.06%​ *  17.37​  3.53​  12.18%​ 	WFD	 *	7.430	*​  15,440,206,367​  0.4380​  5.90%​  0.4380​  * 5.90%​ *  16.96​  3.80​  95.53%​ 


*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		26-Sep-14				3-Oct-14		  	Abacus Property	 ABP  2.550​  2.590​  0.040​  1.57%​ 	Australand_Property	 ALZ  4.470​  4.450​  -0.020​  -0.45%​ 	BWP Trust	 BWP  2.410​  2.400​  -0.010​  -0.41%​ 	CFS Retail Trust	 CFX  1.960​  2.020​  0.060​  *	3.06%	*​ 	Charter Hall	 CHC  4.100​  4.100​  0.000​  0.00%​ 	Charter Hall Retail	 CQR  3.760​  3.850​  0.090​  2.39%​ 	Cromwell	 CMW  0.950​  0.955​  0.005​  0.53%​ 	Dexus	 DXS  1.120​  1.125​  0.005​  0.45%​ 	Federation Centres	 FDC  2.530​  2.570​  0.040​  1.58%​ 	Goodman Group	 GMG  5.170​  5.300​  0.130​  2.51%​ 	GPT Group	 GPT  3.860​  3.870​  0.010​  0.26%​ 	Investa Office	 IOF  3.370​  3.380​  0.010​  0.30%​ 	Mirvac Group	 MGR  1.695​  1.685​  -0.010​  -0.59%​ 	SCA Property Group	 SCP  1.670​  1.710​  0.040​  2.40%​ 	Scentre Group		SCG	 3.300​  3.330​  0.030​  0.91%​ 	Stockland Property	 SGP  3.970​  3.960​  -0.010​  -0.25%​ 	Westfield Corporation		WFD	 7.440​  7.430​  -0.010​  -0.13%​ 


*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector. With the 98% acquisition of Australand by the Singapore Fraser based property group, I expect that ALZ will shortly be deleted from the sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 12 September 2014, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have been updated as at 12 September. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The figures for SCG and WFD are based on the proposal issued 4 December 2013. The issued shares are correct but the Earnings and Distributions are based on the December proposal 2014 forecast earnings. These figures will be adjusted as and when Scentre/Westfields release their respective figures. 

*5.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


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## coolcup (6 October 2014)

Hi Nulla

Do you have any views on the new GPT Metro Office Fund vehicle? Looks like a healthy yield and secure income stream with growth but not sure about the suburban office markets long term. I know you trade on shorter term horizons but interested to hear if you have any fundamental views on the vehicle?


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## nulla nulla (11 October 2014)

*A-REIT Sector:  Weekending Friday 10 October 2014 *

The All-Ords continues to fall but the A-REIT Sector, going against the trend, continues to track sideways. The fall in the Aud$ may have reached a plateau helping underpin the A-REIT sector.

However, Iron ore and coal are being punished, impacting on the perception of the ongoing recovery of the Australian Economy and now the international markets are getting the jitters over the perilous state of the European Economy. German exports were down for September and you would think from the global market reaction this week that the world was coming to an end. 

The recent whipsawing of global indexes has got to the stage that even the aging bimbo that reads the news on morning television feels confident enough to call Thursday's rebound on the XAO a "dead cat bounce". 

The volatility continues, however having the courage/confidence to trade the drops is very testing. I for one have missed more trade opportunities in the last few weeks than I have taken. Trying to protect capital while generating profits has never been more difficult, some entries are still slightly under water and some have proved very successful.




The *A-REIT Table* for closing prices for week ending * 10 October 2014 * follows:


	Code				Closing Price					Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Premium to NTA		           ABP  *	2.580	*​  1,327,273,606​  0.2227​  8.63%​  0.1675​  * 6.49%​ *  11.59​  2.38​  8.40%​  ALZ  *	4.460	*​  2,594,818,732​  0.3080​  6.91%​  0.2638​  * 5.91%​ *  14.48​  3.68​  21.20%​  BWP  *	2.350	*​  1,503,353,341​  0.2434​  10.36%​  0.1471​  * 6.26%​ *  9.65​  2.07​  13.53%​  CFX  *	2.000	*​  6,100,711,454​  0.1361​  6.81%​  0.1360​  * 6.80%​ *  14.70​  1.90​  5.26%​  CHC  *	4.140	*​  1,469,764,087​  0.2561​  6.19%​  0.2230​  * 5.39%​ *  16.17​  2.38​  73.95%​  CQR  *	3.790	*​  1,413,265,050​  0.2395​  6.32%​  0.2730​  * 7.20%​ *  15.82​  3.40​  11.47%​  CMW  *	0.940	*​  1,626,261,874​  0.1062​  11.30%​  0.0762​  * 8.11%​ *  8.85​  0.73​  28.77%​  DXS  *	1.125	*​  6,112,249,661​  0.0826​  7.34%​  0.0626​  * 5.56%​ *  13.62​  1.06​  6.13%​  FDC  *	2.590	*​  3,697,591,653​  0.3091​  11.93%​  0.1570​  * 6.06%​ *  8.38​  2.37​  9.28%​  GMG  *	5.310	*​  9,268,168,120​  0.3820​  7.19%​  0.2070​  * 3.90%​ *  13.90​  2.88​  84.38%​  GPT  *	3.870	*​  6,522,733,896​  0.3045​  7.87%​  0.2080​  * 5.37%​ *  12.71​  3.82​  1.31%​  IOF  *	3.340	*​  2,050,918,510​  0.2990​  8.95%​  0.1850​  * 5.54%​ *  11.17​  3.35​  -0.30%​  MGR  *	1.700	*​  6,285,235,529​  0.1219​  7.17%​  0.0900​  * 5.29%​ *  13.95​  1.66​  2.41%​  SCP  *	1.710	*​  1,109,154,427​  0.1730​  10.12%​  0.1100​  * 6.43%​ *  9.88​  1.64​  4.27%​ 	SCG	 *	3.330	*​  17,729,907,938​  0.2150​  6.46%​  0.2150​  * 6.46%​ *  15.49​  2.88​  15.63%​  SGP  *	3.940	*​  9,254,062,171​  0.2280​  5.79%​  0.2400​  * 6.09%​ *  17.28​  3.53​  11.61%​ 	WFD	 *	7.460	*​  15,502,549,058​  0.4380​  5.87%​  0.4380​  * 5.87%​ *  17.03​  3.80​  96.32%​ 


*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		3-Oct-14				10-Oct-14		  	Abacus Property	 ABP  2.590​  2.580​  -0.010​  -0.39%​ 	Australand_Property	 ALZ  4.450​  4.460​  0.010​  0.22%​ 	BWP Trust	 BWP  2.400​  2.350​  -0.050​  -2.08%​ 	CFS Retail Trust	 CFX  2.020​  2.000​  -0.020​  -0.99%​ 	Charter Hall	 CHC  4.100​  4.140​  0.040​  0.98%​ 	Charter Hall Retail	 CQR  3.850​  3.790​  -0.060​  -1.56%​ 	Cromwell	 CMW  0.955​  0.940​  -0.015​  -1.57%​ 	Dexus	 DXS  1.125​  1.125​  0.000​  0.00%​ 	Federation Centres	 FDC  2.570​  2.590​  0.020​  0.78%​ 	Goodman Group	 GMG  5.300​  5.310​  0.010​  0.19%​ 	GPT Group	 GPT  3.870​  3.870​  0.000​  0.00%​ 	Investa Office	 IOF  3.380​  3.340​  -0.040​  -1.18%​ 	Mirvac Group	 MGR  1.685​  1.700​  0.015​  0.89%​ 	SCA Property Group	 SCP  1.710​  1.710​  0.000​  0.00%​ 	Scentre Group		SCG	 3.330​  3.330​  0.000​  0.00%​ 	Stockland Property	 SGP  3.960​  3.940​  -0.020​  -0.51%​ 	Westfield Corporation		WFD	 7.430​  7.460​  0.030​  0.40%​ 


*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector. With the 98% acquisition of Australand by the Singapore Fraser based property group, I expect that ALZ will shortly be deleted from the sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 12 September 2014, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have been updated as at 12 September. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The figures for SCG and WFD are based on the proposal issued 4 December 2013. The issued shares are correct but the Earnings and Distributions are based on the December proposal 2014 forecast earnings. These figures will be adjusted as and when Scentre/Westfields release their respective figures. 

*5.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (18 October 2014)

*A-REIT Sector:  Weekending Friday 17 October 2014 *

If you looked at the changes in the share prices of the shares that make up the A-REIT Sector for this week versus last week, you would be forgiven for thinking that there wasn't much change for the week. And you would be right. With the exception of Shopping Centers Australia (scp) which dropped 2.63% for the week, the rest of the share prices appear to have barely moved between last Fridays closing prices and the previous Fridays closing prices.

But they did move. In fact the individual share prices moved dramatically during the week, particularly on Thursday when the whole ASX All-Ords was down 80 points at one stage before recovering to finish the day in the green. The A-REIT sector was the same with many share prices falling past recent entry levels then rebounding to finish the day in the green. The hard part being able to decide whether it was safe to enter or not.  And if you braved an entry, at what point should you exit?  It is a hard call and not one someone else can make for you. Good luck. 




The *A-REIT Table* for closing prices for week ending * 17 October 2014 * follows:


	Code				Closing Price					Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Premium to NTA		           ABP  *	2.600	*​  1,337,562,548​  0.2227​  8.57%​  0.1675​  * 6.44%​ *  11.67​  2.38​  9.24%​  ALZ  *	4.460	*​  2,594,818,732​  0.3080​  6.91%​  0.2638​  * 5.91%​ *  14.48​  3.68​  21.20%​  BWP  *	2.360	*​  1,509,750,589​  0.2434​  10.31%​  0.1471​  * 6.23%​ *  9.70​  2.07​  14.01%​  CFX  *	2.000	*​  6,100,711,454​  0.1361​  6.81%​  0.1360​  * 6.80%​ *  14.70​  1.90​  5.26%​  CHC  *	4.180	*​  1,483,964,706​  0.2561​  6.13%​  0.2230​  * 5.33%​ *  16.32​  2.38​  75.63%​  CQR  *	3.800	*​  1,416,993,981​  0.2395​  6.30%​  0.2730​  * 7.18%​ *  15.87​  3.40​  11.76%​  CMW  *	0.950	*​  1,643,562,532​  0.1062​  11.18%​  0.0762​  * 8.02%​ *  8.95​  0.73​  30.14%​  DXS  *	1.140	*​  6,193,746,323​  0.0826​  7.25%​  0.0626​  * 5.49%​ *  13.80​  1.06​  7.55%​  FDC  *	2.590	*​  3,697,591,653​  0.3091​  11.93%​  0.1570​  * 6.06%​ *  8.38​  2.37​  9.28%​  GMG  *	5.320	*​  9,285,622,297​  0.3820​  7.18%​  0.2070​  * 3.89%​ *  13.93​  2.88​  84.72%​  GPT  *	3.890	*​  6,556,443,115​  0.3045​  7.83%​  0.2080​  * 5.35%​ *  12.78​  3.82​  1.83%​  IOF  *	3.360	*​  2,063,199,459​  0.2990​  8.90%​  0.1850​  * 5.51%​ *  11.24​  3.35​  0.30%​  MGR  *	1.705	*​  6,303,721,516​  0.1219​  7.15%​  0.0900​  * 5.28%​ *  13.99​  1.66​  2.71%​  SCP  *	1.665	*​  1,079,966,153​  0.1730​  10.39%​  0.1100​  * 6.61%​ *  9.62​  1.64​  1.52%​ 	SCG	 *	3.340	*​  17,783,150,905​  0.2150​  6.44%​  0.2150​  * 6.44%​ *  15.53​  2.88​  15.97%​  SGP  *	3.960	*​  9,301,037,106​  0.2280​  5.76%​  0.2400​  * 6.06%​ *  17.37​  3.53​  12.18%​ 	WFD	 *	7.380	*​  15,336,301,883​  0.4380​  5.93%​  0.4380​  * 5.93%​ *  16.85​  3.80​  94.21%​ 


*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		17-Oct-14				17-Oct-14		  	Abacus Property	 ABP  2.580​  2.600​  0.020​  0.78%​ 	Australand_Property	 ALZ  4.460​  4.460​  0.000​  0.00%​ 	BWP Trust	 BWP  2.350​  2.360​  0.010​  0.43%​ 	CFS Retail Trust	 CFX  2.000​  2.000​  0.000​  0.00%​ 	Charter Hall	 CHC  4.140​  4.180​  0.040​  0.97%​ 	Charter Hall Retail	 CQR  3.790​  3.800​  0.010​  0.26%​ 	Cromwell	 CMW  0.940​  0.950​  0.010​  1.06%​ 	Dexus	 DXS  1.125​  1.140​  0.015​  1.33%​ 	Federation Centres	 FDC  2.590​  2.590​  0.000​  0.00%​ 	Goodman Group	 GMG  5.310​  5.320​  0.010​  0.19%​ 	GPT Group	 GPT  3.870​  3.890​  0.020​  0.52%​ 	Investa Office	 IOF  3.340​  3.360​  0.020​  0.60%​ 	Mirvac Group	 MGR  1.700​  1.705​  0.005​  0.29%​ 	SCA Property Group	 SCP  1.710​  1.665​  -0.045​  *	-2.63%	*​ 	Scentre Group		SCG	 3.330​  3.340​  0.010​  0.30%​ 	Stockland Property	 SGP  3.940​  3.960​  0.020​  0.51%​ 	Westfield Corporation		WFD	 7.460​  7.380​  -0.080​  -1.07%​ 


*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector. With the 98% acquisition of Australand by the Singapore Fraser based property group, I expect that ALZ will shortly be deleted from the sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 12 September 2014, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have been updated as at 12 September. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The figures for SCG and WFD are based on the proposal issued 4 December 2013. The issued shares are correct but the Earnings and Distributions are based on the December proposal 2014 forecast earnings. These figures will be adjusted as and when Scentre/Westfields release their respective figures. 

*5.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (26 October 2014)

*A-REIT Sector:  Weekending Friday 24 October 2014 *

With the world markets fluctuating on a daily basis, from confidence to fear and back again, it was a pleasant sight to see the A-REIT sector run up for five days straight finishing up for the week around 2-3 percent. The biggest improver this week was last weeks lagard "scp", finishing up for the week 4.5%. The worst performer was ""scg" which could only manage 0.6% improvement on last weeks finish.




The *A-REIT Table* for closing prices for week ending * 24 October 2014 * follows:


	Code				Closing Price					Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Premium to NTA		           ABP  *	2.640	*​  1,358,140,434​  0.2227​  8.44%​  0.1675​  * 6.34%​ *  11.85​  2.38​  10.92%​  ALZ  *	4.460	*​  2,594,818,732​  0.3080​  6.91%​  0.2638​  * 5.91%​ *  14.48​  3.68​  21.20%​  BWP  *	2.460	*​  1,573,723,072​  0.2434​  9.89%​  0.1471​  * 5.98%​ *  10.11​  2.07​  18.84%​  CFX  *	2.050	*​  6,253,229,240​  0.1361​  6.64%​  0.1360​  * 6.63%​ *  15.06​  1.90​  7.89%​  CHC  *	4.300	*​  1,526,566,564​  0.2561​  5.96%​  0.2230​  * 5.19%​ *  16.79​  2.38​  80.67%​  CQR  *	3.910	*​  1,458,012,228​  0.2395​  6.13%​  0.2730​  * 6.98%​ *  16.33​  3.40​  15.00%​  CMW  *	0.975	*​  1,686,814,177​  0.1062​  10.89%​  0.0762​  * 7.82%​ *  9.18​  0.73​  33.56%​  DXS  *	1.190	*​  6,465,401,864​  0.0826​  6.94%​  0.0626​  * 5.26%​ *  14.41​  1.06​  12.26%​  FDC  *	2.690	*​  3,840,355,810​  0.3091​  11.49%​  0.1570​  * 5.84%​ *  8.70​  2.37​  13.50%​  GMG  *	5.470	*​  9,547,434,956​  0.3820​  6.98%​  0.2070​  * 3.78%​ *  14.32​  2.88​  89.93%​  GPT  *	4.020	*​  6,775,553,039​  0.3045​  7.57%​  0.2080​  * 5.17%​ *  13.20​  3.82​  5.24%​  IOF  *	3.470	*​  2,130,744,679​  0.2990​  8.62%​  0.1850​  * 5.33%​ *  11.61​  3.35​  3.58%​  MGR  *	1.730	*​  6,396,151,450​  0.1219​  7.05%​  0.0900​  * 5.20%​ *  14.19​  1.66​  4.22%​  SCP  *	1.740	*​  1,128,613,277​  0.1730​  9.94%​  0.1100​  * 6.32%​ *  10.06​  1.64​  6.10%​ 	SCG	 *	3.360	*​  17,889,636,838​  0.2150​  6.40%​  0.2150​  * 6.40%​ *  15.63​  2.88​  16.67%​  SGP  *	4.060	*​  9,535,911,781​  0.2280​  5.62%​  0.2400​  * 5.91%​ *  17.81​  3.53​  15.01%​ 	WFD	 *	7.590	*​  15,772,700,717​  0.4380​  5.77%​  0.4380​  * 5.77%​ *  17.33​  3.80​  99.74%​ 


*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		17-Oct-14				24-Oct-14		  	Abacus Property	 ABP  2.600​  2.640​  0.040​  1.54%​ 	Australand_Property	 ALZ  4.460​  4.460​  0.000​  0.00%​ 	BWP Trust	 BWP  2.360​  2.460​  0.100​  4.24%​ 	CFS Retail Trust	 CFX  2.000​  2.050​  0.050​  2.50%​ 	Charter Hall	 CHC  4.180​  4.300​  0.120​  2.87%​ 	Charter Hall Retail	 CQR  3.800​  3.910​  0.110​  2.89%​ 	Cromwell	 CMW  0.950​  0.975​  0.025​  2.63%​ 	Dexus	 DXS  1.140​  1.190​  0.050​  4.39%​ 	Federation Centres	 FDC  2.590​  2.690​  0.100​  3.86%​ 	Goodman Group	 GMG  5.320​  5.470​  0.150​  2.82%​ 	GPT Group	 GPT  3.890​  4.020​  0.130​  3.34%​ 	Investa Office	 IOF  3.360​  3.470​  0.110​  3.27%​ 	Mirvac Group	 MGR  1.705​  1.730​  0.025​  1.47%​ 	SCA Property Group	 SCP  1.665​  1.740​  0.075​  *	4.50%	*​ 	Scentre Group		SCG	 3.340​  3.360​  0.020​  0.60%​ 	Stockland Property	 SGP  3.960​  4.060​  0.100​  2.53%​ 	Westfield Corporation		WFD	 7.380​  7.590​  0.210​  2.85%​ 


*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector. With the 98% acquisition of Australand by the Singapore Fraser based property group, I expect that ALZ will shortly be deleted from the sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 12 September 2014, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have been updated as at 12 September. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The figures for SCG and WFD are based on the proposal issued 4 December 2013. The issued shares are correct but the Earnings and Distributions are based on the December proposal 2014 forecast earnings. These figures will be adjusted as and when Scentre/Westfields release their respective figures. 

*5.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## coolcup (26 October 2014)

Probably worth discontinuing ALZ on the table given it is now in suspension pending compulsory acquisition by Frasers.


----------



## nulla nulla (1 November 2014)

*A-REIT Sector:  Weekending Friday 31 October 2014 *

The linked article of news on the forum opening page from thebull.com.au "World Stocks rally after Japanese Stimulus" pretty much sums up what happened on Friday 31 October 2014.

http://www.thebull.com.au/articles/a/49875-world-stocks-rally-after-japanese-stimulus.html

Shares in the A-REIT Property Sector spiked upward as once again a sunami of money poured into the Australian share market. 




The *A-REIT Table* for closing prices for week ending * 31 October 2014 * follows:


	Code				Closing Price					Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Premium to NTA		           ABP  *	2.700	*​  1,389,007,262​  0.2227​  8.25%​  0.1675​  * 6.20%​ *  12.12​  2.38​  13.45%​  BWP  *	2.520	*​  1,612,106,562​  0.2434​  9.66%​  0.1471​  * 5.84%​ *  10.35​  2.07​  21.74%​  CFX  *	2.100	*​  6,405,747,027​  0.1361​  6.48%​  0.1360​  * 6.48%​ *  15.43​  1.90​  10.53%​  CHC  *	4.370	*​  1,551,417,648​  0.2561​  5.86%​  0.2230​  * 5.10%​ *  17.06​  2.38​  83.61%​  CQR  *	4.070	*​  1,517,675,133​  0.2395​  5.88%​  0.2730​  * 6.71%​ *  16.99​  3.40​  19.71%​  CMW  *	0.990	*​  1,712,765,165​  0.1062​  10.73%​  0.0762​  * 7.70%​ *  9.32​  0.73​  35.62%​  DXS  *	1.210	*​  6,574,064,080​  0.0826​  6.83%​  0.0626​  * 5.17%​ *  14.65​  1.06​  14.15%​  FDC  *	2.720	*​  3,883,185,057​  0.3091​  11.36%​  0.1570​  * 5.77%​ *  8.80​  2.37​  14.77%​  GMG  *	5.540	*​  9,669,614,197​  0.3820​  6.90%​  0.2070​  * 3.74%​ *  14.50​  2.88​  92.36%​  GPT  *	4.120	*​  6,944,099,135​  0.3045​  7.39%​  0.2080​  * 5.05%​ *  13.53​  3.82​  7.85%​  IOF  *	3.560	*​  2,186,008,950​  0.2990​  8.40%​  0.1850​  * 5.20%​ *  11.91​  3.35​  6.27%​  MGR  *	1.795	*​  6,636,469,279​  0.1219​  6.79%​  0.0900​  * 5.01%​ *  14.73​  1.66​  8.13%​  SCP  *	1.810	*​  1,174,017,259​  0.1730​  9.56%​  0.1100​  * 6.08%​ *  10.46​  1.64​  10.37%​ 	SCG	 *	3.540	*​  18,848,010,240​  0.2150​  6.07%​  0.2150​  * 6.07%​ *  16.47​  2.88​  22.92%​  SGP  *	4.240	*​  9,958,686,195​  0.2280​  5.38%​  0.2400​  * 5.66%​ *  18.60​  3.53​  20.11%​ 	WFD	 *	7.920	*​  16,458,470,313​  0.4380​  5.53%​  0.4380​  * 5.53%​ *  18.08​  3.80​  108.42%​ 


*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		24-Oct-14				31-Oct-14		  	Abacus Property	 ABP  2.640​  2.700​  0.060​  2.27%​ 	BWP Trust	 BWP  2.460​  2.520​  0.060​  2.44%​ 	CFS Retail Trust	 CFX  2.050​  2.100​  0.050​  2.44%​ 	Charter Hall	 CHC  4.300​  4.370​  0.070​  1.63%​ 	Charter Hall Retail	 CQR  3.910​  4.070​  0.160​  4.09%​ 	Cromwell	 CMW  0.975​  0.990​  0.015​  1.54%​ 	Dexus	 DXS  1.190​  1.210​  0.020​  1.68%​ 	Federation Centres	 FDC  2.690​  2.720​  0.030​  1.12%​ 	Goodman Group	 GMG  5.470​  5.540​  0.070​  1.28%​ 	GPT Group	 GPT  4.020​  4.120​  0.100​  2.49%​ 	Investa Office	 IOF  3.470​  3.560​  0.090​  2.59%​ 	Mirvac Group	 MGR  1.730​  1.795​  0.065​  3.76%​ 	SCA Property Group	 SCP  1.740​  1.810​  0.070​  4.02%​ 	Scentre Group		SCG	 3.360​  3.540​  0.180​  *	5.36%	*​ 	Stockland Property	 SGP  4.060​  4.240​  0.180​  4.43%​ 	Westfield Corporation		WFD	 7.590​  7.920​  0.330​  4.35%​ 


*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector. ALZ has been deleted from this list.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 12 September 2014, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have been updated as at 12 September. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The figures for SCG and WFD are based on the proposal issued 4 December 2013. The issued shares are correct but the Earnings and Distributions are based on the December proposal 2014 forecast earnings. These figures will be adjusted as and when Scentre/Westfields release their respective figures. 

*5.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (8 November 2014)

*A-REIT Sector:  Weekending Friday 07 November 2014 *

A volatile week with the Aud$ falling against the US$. Normally this would be accompanied by an exodus of foreign investment funds from the Australian Share market, particularly in the A-REIT Sector. However the sunami of funds generated by the Japanese version of "quantative easing" has seen an influx of investment funds into world markets including the A-REIT Sector. It would seem that any exodus of funds linked to he falling Aud$ has been offset by Japanese investors chasing yields. Some up, some down and plenty of volatility in the mix for the brave.

The merry-go-round continues but for some reason, lately, the tune seems more reminiscent of "musical chairs". 




The *A-REIT Table* for closing prices for week ending * 07 November 2014 * follows:


	Code				Closing Price					Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Premium to NTA		           ABP  *	2.790	*​  1,435,307,504​  0.2227​  7.98%​  0.1675​  * 6.00%​ *  12.53​  2.38​  17.23%​  BWP  *	2.550	*​  1,631,298,306​  0.2434​  9.55%​  0.1471​  * 5.77%​ *  10.48​  2.07​  23.19%​  CHC  *	4.560	*​  1,618,870,589​  0.2561​  5.62%​  0.2230​  * 4.89%​ *  17.81​  2.38​  91.60%​  CQR  *	4.080	*​  1,521,404,064​  0.2395​  5.87%​  0.2730​  * 6.69%​ *  17.04​  3.40​  20.00%​  CMW  *	0.975	*​  1,689,803,859​  0.1062​  10.89%​  0.0769​  * 7.89%​ *  9.18​  0.73​  33.56%​  DXS  *	7.300	*​  6,610,284,824​  0.4956​  6.79%​  0.3758​  * 5.15%​ *  14.73​  1.06​  588.68%​  FDC  *	2.740	*​  3,911,737,888​  0.3091​  11.28%​  0.1570​  * 5.73%​ *  8.86​  2.37​  15.61%​  GMG  *	5.650	*​  9,861,849,345​  0.3820​  6.76%​  0.2070​  * 3.66%​ *  14.79​  2.88​  96.18%​  GPT  *	4.170	*​  7,028,372,182​  0.3045​  7.30%​  0.2080​  * 4.99%​ *  13.69​  3.82​  9.16%​  IOF  *	3.580	*​  2,198,289,900​  0.2990​  8.35%​  0.1850​  * 5.17%​ *  11.97​  3.35​  6.87%​  MGR  *	1.770	*​  6,544,039,345​  0.1219​  6.89%​  0.0900​  * 5.08%​ *  14.52​  1.66​  6.63%​  NVN  *	2.100	*​  6,405,747,027​  0.1361​  6.48%​  0.1360​  * 6.48%​ *  15.43​  1.90​  10.53%​  SCP  *	1.790	*​  1,161,044,693​  0.1730​  9.66%​  0.1100​  * 6.15%​ *  10.35​  1.64​  9.15%​ 	SCG	 *	3.560	*​  18,954,496,174​  0.2150​  6.04%​  0.2150​  * 6.04%​ *  16.56​  2.88​  23.61%​  SGP  *	4.200	*​  9,864,736,325​  0.2280​  5.43%​  0.2400​  * 5.71%​ *  18.42​  3.53​  18.98%​ 	WFD	 *	8.040	*​  16,707,841,075​  0.4380​  5.45%​  0.4380​  * 5.45%​ *  18.36​  3.80​  111.58%​ 


*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		31-Oct-14				7-Nov-14		  	Abacus Property	 ABP  2.700​  2.790​  0.090​  3.33%​ 	BWP Trust	 BWP  2.520​  2.550​  0.030​  1.19%​ 	Charter Hall	 CHC  4.370​  4.560​  0.190​  *	4.35%	*​ 	Charter Hall Retail	 CQR  4.070​  4.080​  0.010​  0.25%​ 	Cromwell	 CMW  0.990​  0.975​  -0.015​  -1.52%​ 	Dexus	 DXS  7.260​  7.300​  0.040​  0.55%​ 	Federation Centres	 FDC  2.720​  2.740​  0.020​  0.74%​ 	Goodman Group	 GMG  5.540​  5.650​  0.110​  1.99%​ 	GPT Group	 GPT  4.120​  4.170​  0.050​  1.21%​ 	Investa Office	 IOF  3.560​  3.580​  0.020​  0.56%​ 	Mirvac Group	 MGR  1.795​  1.770​  -0.025​  -1.39%​ 	Novion Property Group	 NVN  2.100​  2.100​  0.000​  0.00%​ 	SCA Property Group	 SCP  1.810​  1.790​  -0.020​  -1.10%​ 	Scentre Group		SCG	 3.540​  3.560​  0.020​  0.56%​ 	Stockland Property	 SGP  4.240​  4.200​  -0.040​  -0.94%​ 	Westfield Corporation		WFD	 7.920​  8.040​  0.120​  1.52%​ 


*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector. Australand has now been removed from the list.  CFS Retail property (CFX) has been renamed to Novion Property Group (NVN) and Dexus has consolidated their shares on the bases of 1 for 6.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 07 November 2014, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have been updated as at 07 November 2014. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The table figures for SCG and WFD are based on the proposal issued 4 December 2013. The issued shares are correct but the Earnings and Distributions are based on the December proposal 2014 forecast earnings. These figures will be adjusted as and when Scentre/Westfields release their respective figures. SCG has advised on 6 November 2014 "Scentre Group reconfirms its forecast FFO of 10.88 cents per security with a distribution forecast of 10.2 cents per security for the six months ending 31 December 2014".

*5.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (15 November 2014)

*A-REIT Sector:  Weekending Friday 14 November 2014 *

After a good start to the week, with the A-REIT Sector lifting on Monday/Tuesday, the music suddenly stopped and the shortage of chairs saw the market fall Wednesday and Thursday. Even though there was a slight recovery on Friday, the sector still finished down for the week.  I suspect it would have been worse but for the efforts of Westfield investors which closed up the week $0.18, roughly 2.86%, (while Scentre Group managed to finish down for the week 2.81%, go figure?).




The *A-REIT Table* for closing prices for week ending * 14 November 2014 * follows:


	Code				Closing Price					Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Premium to NTA		           ABP  *	2.840	*​  1,461,029,861​  0.2227​  7.84%​  0.1675​  * 5.90%​ *  12.75​  2.38​  19.33%​  BWP  *	2.520	*​  1,612,106,562​  0.2434​  9.66%​  0.1471​  * 5.84%​ *  10.35​  2.07​  21.74%​  CHC  *	4.560	*​  1,618,870,589​  0.2561​  5.62%​  0.2230​  * 4.89%​ *  17.81​  2.38​  91.60%​  CQR  *	4.110	*​  1,532,590,859​  0.2395​  5.83%​  0.2730​  * 6.64%​ *  17.16​  3.40​  20.88%​  CMW  *	0.985	*​  1,707,135,181​  0.1062​  10.78%​  0.0769​  * 7.81%​ *  9.27​  0.73​  34.93%​  DXS  *	7.260	*​  6,574,064,085​  0.4956​  6.83%​  0.3758​  * 5.18%​ *  14.65​  1.06​  584.91%​  FDC  *	2.780	*​  3,968,843,551​  0.3091​  11.12%​  0.1570​  * 5.65%​ *  8.99​  2.37​  17.30%​  GMG  *	5.640	*​  9,844,394,744​  0.3820​  6.77%​  0.2070​  * 3.67%​ *  14.76​  2.88​  95.83%​  GPT  *	4.200	*​  7,078,936,011​  0.3045​  7.25%​  0.2080​  * 4.95%​ *  13.79​  3.82​  9.95%​  IOF  *	3.550	*​  2,179,868,476​  0.2990​  8.42%​  0.1850​  * 5.21%​ *  11.87​  3.35​  5.97%​  MGR  *	1.770	*​  6,544,039,345​  0.1219​  6.89%​  0.0900​  * 5.08%​ *  14.52​  1.66​  6.63%​  NVN  *	2.090	*​  6,375,243,469​  0.1361​  6.51%​  0.1360​  * 6.51%​ *  15.36​  1.90​  10.00%​  SCP  *	1.805	*​  1,170,774,118​  0.1730​  9.58%​  0.1100​  * 6.09%​ *  10.43​  1.64​  10.06%​  SCG  *	3.460	*​  18,422,066,506​  0.2150​  6.21%​  0.2150​  * 6.21%​ *  16.09​  2.88​  20.14%​  SGP  *	4.190	*​  9,841,248,857​  0.2280​  5.44%​  0.2400​  * 5.73%​ *  18.38​  3.53​  18.70%​  WFD  *	8.270	*​  17,185,801,703​  0.4380​  5.30%​  0.4380​  * 5.30%​ *  18.88​  3.80​  117.63%​ 


*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		7-Nov-14				14-Nov-14		  	Abacus Property	 ABP  2.790​  2.840​  0.050​  1.79%​ 	BWP Trust	 BWP  2.550​  2.520​  -0.030​  -1.18%​ 	Charter Hall	 CHC  4.560​  4.560​  0.000​  0.00%​ 	Charter Hall Retail	 CQR  4.080​  4.110​  0.030​  0.74%​ 	Cromwell	 CMW  0.975​  0.985​  0.010​  1.03%​ 	Dexus	 DXS  7.300​  7.260​  -0.040​  -0.55%​ 	Federation Centres	 FDC  2.740​  2.780​  0.040​  1.46%​ 	Goodman Group	 GMG  5.650​  5.640​  -0.010​  -0.18%​ 	GPT Group	 GPT  4.170​  4.200​  0.030​  0.72%​ 	Investa Office	 IOF  3.580​  3.550​  -0.030​  -0.84%​ 	Mirvac Group	 MGR  1.770​  1.770​  0.000​  0.00%​ 	Novion Property Group	 NVN  2.100​  2.090​  -0.010​  -0.48%​ 	SCA Property Group	 SCP  1.790​  1.805​  0.015​  0.84%​ 	Scentre Group	 SCG  3.560​  3.460​  -0.100​  -2.81%​ 	Stockland Property	 SGP  4.200​  4.190​  -0.010​  -0.24%​ 	Westfield Corporation	 WFD  8.040​  8.270​  0.230​  *	2.86%	*​ 


*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector. Australand has now been removed from the list.  CFS Retail property (CFX) has been renamed to Novion Property Group (NVN) and Dexus has consolidated their shares on the bases of 1 for 6.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 07 November 2014, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have been updated as at 07 November 2014. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The table figures for SCG and WFD are based on the proposal issued 4 December 2013. The issued shares are correct but the Earnings and Distributions are based on the December proposal 2014 forecast earnings. These figures will be adjusted as and when Scentre/Westfields release their respective figures. SCG has advised on 6 November 2014 "Scentre Group reconfirms its forecast FFO of 10.88 cents per security with a distribution forecast of 10.2 cents per security for the six months ending 31 December 2014".

*5.* The share codes listed in both Tables now hyper-link to the last page of the corresponding ASF thread for that share.

*6.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (23 November 2014)

*A-REIT Sector:  Weekending Friday 21 November 2014 *

Not a good week for the ASX and not a good week for the A-REIT Sector also. Japan has gone into recession again (I didn't know that they had come out of their long running recession, I must have blinked) so the markets reacted badly to the news. Also it is likely that some of the Japanese Quantative easing funds that made their way into Australian "Yield" shares in the last few weeks have been pulled out as well, rather quickly. 

Iron ore prices have retreated to 5 year lows, the Australian economy is looking shaky and market confidence is falling. Under the circumstances, our dollar is doing well to hold up around the US$0.86 area. The volatility continues. 




The *A-REIT Table* for closing prices for week ending * 21 November 2014 * follows:


	Code	 *	Closing Price	* 		Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Premium to NTA		           ABP  *	2.80	*​  1,440,451,975​  0.2227​  7.95%​  0.1675​  * 5.98%​ *  12.57​  2.38​  17.65%​  BWP  *	2.49	*​  1,592,914,817​  0.2434​  9.78%​  0.1471​  * 5.91%​ *  10.23​  2.07​  20.29%​  CHC  *	4.46	*​  1,583,529,868​  0.2561​  5.74%​  0.2230​  * 5.00%​ *  17.42​  2.38​  87.39%​  CQR  *	4.03	*​  1,502,759,407​  0.2395​  5.94%​  0.2730​  * 6.77%​ *  16.83​  3.40​  18.53%​  CMW  *	0.98	*​  1,700,593,787​  0.1062​  10.84%​  0.0789​  * 8.05%​ *  9.23​  0.73​  34.25%​  DXS  *	6.97	*​  6,311,556,625​  0.4956​  7.11%​  0.3756​  * 5.39%​ *  14.06​  6.36​  9.59%​  FDC  *	2.65	*​  3,783,250,147​  0.3091​  11.66%​  0.1570​  * 5.92%​ *  8.57​  2.37​  11.81%​  GMG  *	5.47	*​  9,547,666,534​  0.3820​  6.98%​  0.2070​  * 3.78%​ *  14.32​  2.88​  89.93%​  GPT  *	4.08	*​  6,876,680,696​  0.3045​  7.46%​  0.2080​  * 5.10%​ *  13.40​  3.82​  6.81%​  IOF  *	3.46	*​  2,124,604,205​  0.2990​  8.64%​  0.1850​  * 5.35%​ *  11.57​  3.35​  3.28%​  MGR  *	1.73	*​  6,396,151,450​  0.1219​  7.05%​  0.0900​  * 5.20%​ *  14.19​  1.66​  4.22%​  NVN  *	2.05	*​  6,253,229,240​  0.1361​  6.64%​  0.1360​  * 6.63%​ *  15.06​  1.90​  7.89%​  SCP  *	1.74	*​  1,125,370,135​  0.1220​  7.03%​  0.1080​  * 6.22%​ *  14.22​  1.57​  10.51%​  SCG  *	3.44	*​  18,315,580,572​  0.2150​  6.25%​  0.2150​  * 6.25%​ *  16.00​  2.88​  19.44%​  SGP  *	4.08	*​  9,582,886,716​  0.2280​  5.59%​  0.2400​  * 5.88%​ *  17.89​  3.53​  15.58%​  WFD  *	7.99	*​  16,603,936,591​  0.4380​  5.48%​  0.4380​  * 5.48%​ *  18.24​  3.80​  110.26%​ 



*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		14-Nov-14				21-Nov-14		  	Abacus Property	 ABP  2.84​  2.80​  -0.04​  -1.41%​ 	BWP Trust	 BWP  2.52​  2.49​  -0.03​  -1.19%​ 	Charter Hall	 CHC  4.56​  4.46​  -0.10​  -2.19%​ 	Charter Hall Retail	 CQR  4.11​  4.03​  -0.08​  -1.95%​ 	Cromwell	 CMW  0.99​  0.98​  -0.01​  -0.51%​ 	Dexus	 DXS  7.26​  6.97​  -0.29​  -3.99%​ 	Federation Centres	 FDC  2.78​  2.65​  -0.13​  -4.68%​ 	Goodman Group	 GMG  5.64​  5.47​  -0.17​  -3.01%​ 	GPT Group	 GPT  4.20​  4.08​  -0.12​  -2.86%​ 	Investa Office	 IOF  3.55​  3.46​  -0.09​  -2.54%​ 	Mirvac Group	 MGR  1.77​  1.73​  -0.04​  -2.26%​ 	Novion Property Group	 NVN  2.09​  2.05​  -0.04​  -1.91%​ 	SCA Property Group	 SCP  1.81​  1.74​  -0.07​  -3.88%​ 	Scentre Group	 SCG  3.46​  3.44​  -0.02​  -0.58%​ 	Stockland Property	 SGP  4.19​  4.08​  -0.11​  -2.63%​ 	Westfield Corporation	 WFD  8.27​  7.99​  -0.28​  -3.39%​ 



*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector. Australand has now been removed from the list.  CFS Retail property (CFX) has been renamed to Novion Property Group (NVN) and Dexus has consolidated their shares on the bases of 1 for 6.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 21 November 2014, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 21 November 2014. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The table figures for SCG and WFD are based on the proposal issued 4 December 2013. The issued shares are correct but the Earnings and Distributions are based on the December proposal 2014 forecast earnings. These figures will be adjusted as and when Scentre/Westfields release their respective figures. SCG has advised on 6 November 2014 "Scentre Group reconfirms its forecast FFO of 10.88 cents per security with a distribution forecast of 10.2 cents per security for the six months ending 31 December 2014".

*5.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*6.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (30 November 2014)

*A-REIT Sector:  Weekending Friday 28 November 2014 *

The A-REIT Property Sector enjoyed a good week with share price rises across the sector. It could be the yield players are now positioning themselves for the December 2014 dividend. It will be interesting to see if the A-REIT yield chasers are prepared to pay up for their dividends or whether their will be any further dips between now and 24 December 2014. The volatility continues. 




The *A-REIT Table* for closing prices for week ending * 28 November 2014 * follows:


	Code	 *	Closing Price	* 		Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Premium to NTA		           ABP  *	2.870	*​  1,476,463,275​  0.2227​  7.76%​  0.1675​  * 5.84%​ *  12.89​  2.38​  20.59%​  BWP  *	2.540	*​  1,624,901,058​  0.2434​  9.58%​  0.1471​  * 5.79%​ *  10.44​  2.07​  22.71%​  CHC  *	4.580	*​  1,626,136,053​  0.2561​  5.59%​  0.2230​  * 4.87%​ *  17.88​  2.38​  92.44%​  CQR  *	4.150	*​  1,547,506,585​  0.2395​  5.77%​  0.2730​  * 6.58%​ *  17.33​  3.40​  22.06%​  CMW  *	1.005	*​  1,743,976,282​  0.1062​  10.57%​  0.0789​  * 7.85%​ *  9.46​  0.73​  37.67%​  DXS  *	7.110	*​  6,438,331,077​  0.4956​  6.97%​  0.3756​  * 5.28%​ *  14.35​  6.36​  11.79%​  FDC  *	2.770	*​  3,954,567,135​  0.3091​  11.16%​  0.1570​  * 5.67%​ *  8.96​  2.37​  16.88%​  GMG  *	5.450	*​  9,512,757,332​  0.3820​  7.01%​  0.2070​  * 3.80%​ *  14.27​  2.88​  89.24%​  GPT  *	4.140	*​  6,977,808,354​  0.3045​  7.36%​  0.2080​  * 5.02%​ *  13.60​  3.82​  8.38%​  IOF  *	3.530	*​  2,167,587,527​  0.2990​  8.47%​  0.1850​  * 5.24%​ *  11.81​  3.35​  5.37%​  MGR  *	1.755	*​  6,488,581,384​  0.1219​  6.95%​  0.0900​  * 5.13%​ *  14.40​  1.66​  5.72%​  NVN  *	2.130	*​  6,497,257,699​  0.1361​  6.39%​  0.1360​  * 6.38%​ *  15.65​  1.90​  12.11%​  SCP  *	1.785	*​  1,157,801,551​  0.1220​  6.83%​  0.1080​  * 6.05%​ *  14.63​  1.57​  13.69%​  SCG  *	3.470	*​  18,475,309,473​  0.2150​  6.20%​  0.2150​  * 6.20%​ *  16.14​  2.88​  20.49%​  SGP  *	4.120	*​  9,676,836,585​  0.2280​  5.53%​  0.2400​  * 5.83%​ *  18.07​  3.53​  16.71%​  WFD  *	8.290	*​  17,227,363,497​  0.4380​  5.28%​  0.4380​  * 5.28%​ *  18.93​  3.80​  118.16%​ 



*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		21-Nov-14				28-Nov-14		  	Abacus Property	 ABP  2.800​  2.870​  0.07​  2.50%​ 	BWP Trust	 BWP  2.490​  2.540​  0.05​  2.01%​ 	Charter Hall	 CHC  4.460​  4.580​  0.12​  2.69%​ 	Charter Hall Retail	 CQR  4.030​  4.150​  0.12​  2.98%​ 	Cromwell	 CMW  0.980​  1.005​  0.02​  2.55%​ 	Dexus	 DXS  6.970​  7.110​  0.14​  2.01%​ 	Federation Centres	 FDC  2.650​  2.770​  0.12​  *	4.53%	*​ 	Goodman Group	 GMG  5.470​  5.450​  -0.02​  -0.37%​ 	GPT Group	 GPT  4.080​  4.140​  0.06​  1.47%​ 	Investa Office	 IOF  3.460​  3.530​  0.07​  2.02%​ 	Mirvac Group	 MGR  1.730​  1.755​  0.02​  1.45%​ 	Novion Property Group	 NVN  2.050​  2.130​  0.08​  3.90%​ 	SCA Property Group	 SCP  1.735​  1.785​  0.05​  2.88%​ 	Scentre Group	 SCG  3.440​  3.470​  0.03​  0.87%​ 	Stockland Property	 SGP  4.080​  4.120​  0.04​  0.98%​ 	Westfield Corporation	 WFD  7.990​  8.290​  0.30​  3.75%​ 



*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector. Australand has now been removed from the list.  CFS Retail property (CFX) has been renamed to Novion Property Group (NVN) and Dexus has consolidated their shares on the bases of 1 for 6.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 21 November 2014, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 21 November 2014. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The table figures for SCG and WFD are based on the proposal issued 4 December 2013. The issued shares are correct but the Earnings and Distributions are based on the December proposal 2014 forecast earnings. These figures will be adjusted as and when Scentre/Westfields release their respective figures. SCG has advised on 6 November 2014 "Scentre Group reconfirms its forecast FFO of 10.88 cents per security with a distribution forecast of 10.2 cents per security for the six months ending 31 December 2014".

*5.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*6.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (7 December 2014)

*A-REIT Sector:  Weekending Friday 05 December 2014 *

The share price rises across the A-REIT Property Sector continued with several shares testing previous highs. This was all the more remarkable in a week that saw the Aud$ drop below US$0.84. Yield players are clearly positioning themselves for the December 2014 dividends. 

With 2-3 weeks to go before the Ex-div dates, it will be interesting to see whether share prices are pushed higher still or fluctuate at present levels. To me, Fridays late trading retraces suggests that the volatility will continue.




The *A-REIT Table* for closing prices for week ending * 05 December 2014 * follows:


	Code	 *	Closing Price	* 		Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Premium to NTA		           ABP  *	2.890	*​  1,486,752,217​  0.2227​  7.71%​  0.1675​  * 5.80%​ *  12.98​  2.38​  21.43%​  BWP  *	2.620	*​  1,676,079,044​  0.2434​  9.29%​  0.1471​  * 5.61%​ *  10.76​  2.07​  26.57%​  CHC  *	4.720	*​  1,675,843,269​  0.2561​  5.43%​  0.2230​  * 4.72%​ *  18.43​  2.38​  98.32%​  CQR  *	4.140	*​  1,543,777,653​  0.2395​  5.79%​  0.2730​  * 6.59%​ *  17.29​  3.40​  21.76%​  CMW  *	1.015	*​  1,761,329,280​  0.1062​  10.46%​  0.0789​  * 7.77%​ *  9.56​  0.73​  39.04%​  DXS  *	7.070	*​  6,402,109,805​  0.4956​  7.01%​  0.3756​  * 5.31%​ *  14.27​  6.36​  11.16%​  FDC  *	2.800	*​  3,997,396,382​  0.3091​  11.04%​  0.1570​  * 5.61%​ *  9.06​  2.37​  18.14%​  GMG  *	5.650	*​  9,861,849,345​  0.3820​  6.76%​  0.2070​  * 3.66%​ *  14.79​  2.88​  96.18%​  GPT  *	4.250	*​  7,163,209,059​  0.3045​  7.16%​  0.2080​  * 4.89%​ *  13.96​  3.82​  11.26%​  IOF  *	3.670	*​  2,253,554,171​  0.2990​  8.15%​  0.1850​  * 5.04%​ *  12.27​  3.35​  9.55%​  MGR  *	1.805	*​  6,673,441,253​  0.1219​  6.75%​  0.0900​  * 4.99%​ *  14.81​  1.66​  8.73%​  NVN  *	2.190	*​  6,680,279,042​  0.1361​  6.21%​  0.1360​  * 6.21%​ *  16.09​  1.90​  15.26%​  SCP  *	1.835	*​  1,190,232,967​  0.1220​  6.65%​  0.1080​  * 5.89%​ *  15.04​  1.57​  16.88%​  SCG  *	3.540	*​  18,848,010,240​  0.2150​  6.07%​  0.2150​  * 6.07%​ *  16.47​  2.88​  22.92%​  SGP  *	4.200	*​  9,864,736,325​  0.2280​  5.43%​  0.2400​  * 5.71%​ *  18.42​  3.53​  18.98%​  WFD  *	8.550	*​  17,767,666,815​  0.4380​  5.12%​  0.4380​  * 5.12%​ *  19.52​  3.80​  125.00%​ 



*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		28-Nov-14				05-Dec-14		  	Abacus Property	 ABP  2.870​  2.890​  0.02​  0.70%​ 	BWP Trust	 BWP  2.540​  2.620​  0.08​  3.15%​ 	Charter Hall	 CHC  4.580​  4.720​  0.14​  3.06%​ 	Charter Hall Retail	 CQR  4.150​  4.140​  -0.01​  -0.24%​ 	Cromwell	 CMW  1.005​  1.015​  0.01​  1.00%​ 	Dexus	 DXS  7.110​  7.070​  -0.04​  -0.56%​ 	Federation Centres	 FDC  2.770​  2.800​  0.03​  1.08%​ 	Goodman Group	 GMG  5.450​  5.650​  0.20​  3.67%​ 	GPT Group	 GPT  4.140​  4.250​  0.11​  2.66%​ 	Investa Office	 IOF  3.530​  3.670​  0.14​  *	3.97%	*​ 	Mirvac Group	 MGR  1.755​  1.805​  0.05​  2.85%​ 	Novion Property Group	 NVN  2.130​  2.190​  0.06​  2.82%​ 	SCA Property Group	 SCP  1.785​  1.835​  0.05​  2.80%​ 	Scentre Group	 SCG  3.470​  3.540​  0.07​  2.02%​ 	Stockland Property	 SGP  4.120​  4.200​  0.08​  1.94%​ 	Westfield Corporation	 WFD  8.290​  8.550​  0.26​  3.14%​ 



*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector. Australand has now been removed from the list.  CFS Retail property (CFX) has been renamed to Novion Property Group (NVN) and Dexus has consolidated their shares on the bases of 1 for 6.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 21 November 2014, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 21 November 2014. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The table figures for SCG and WFD are based on the proposal issued 4 December 2013. The issued shares are correct but the Earnings and Distributions are based on the December proposal 2014 forecast earnings. These figures will be adjusted as and when Scentre/Westfields release their respective figures. SCG has advised on 6 November 2014 "Scentre Group reconfirms its forecast FFO of 10.88 cents per security with a distribution forecast of 10.2 cents per security for the six months ending 31 December 2014".

*5.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*6.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## Toyota Lexcen (7 December 2014)

yes been impressive the turn around in a number of the stocks, thanks nulla nulla another fine update

its a great discussion the pros/cons of long term hold vs the dividend play,


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## Logique (8 December 2014)

Thanks for the updates Nulla Nulla.


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## nulla nulla (14 December 2014)

*A-REIT Sector:  Weekending Friday 12 December 2014 *

After a roller coaster ride through the week, the A-REIT Property Sector closed up on Friday at a Six (6) year high. With the falling oil price and a falling iron oil price continuing to weigh on international markets, our market plunged almost daily on opening only to fight back through the day. The falling Aud$ and the high yields available in the A-REIT Property Sector must be a welcome safety net for investors fleeing Energy and Resource shares.

Looking back over the past few months, recent falls in the All-Ords have not been mirrored in the A-REIT Property Sector. If anything it would appear  that, since early September, the falling Aud$ against the US$ and a "flight to safety" mentality among investors, has generated a rebound in the Property Sector popularity. Whether these highs are sustainable in the current market gloom and doom remains to be seen. 






The international markets fell like bricks on Friday, a replay of last Fridays market action, no doubt the volatility will continue next week as well.

The *A-REIT Table* for closing prices for week ending * 12 December 2014 * follows:


	Code	 *	Closing Price	* 		Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Premium to NTA		           ABP  *	3.000	*​  1,543,341,402​  0.2227​  7.42%​  0.1675​  * 5.58%​ *  13.47​  2.38​  26.05%​  BWP  *	2.650	*​  1,695,270,789​  0.2434​  9.18%​  0.1471​  * 5.55%​ *  10.89​  2.07​  28.02%​  CHC  *	4.890	*​  1,736,202,031​  0.2561​  5.24%​  0.2230​  * 4.56%​ *  19.09​  2.38​  105.46%​  CQR  *	4.120	*​  1,536,319,790​  0.2395​  5.81%​  0.2730​  * 6.63%​ *  17.20​  3.40​  21.18%​  CMW  *	1.035	*​  1,796,035,275​  0.1062​  10.26%​  0.0789​  * 7.62%​ *  9.75​  0.73​  41.78%​  DXS  *	7.150	*​  6,474,552,349​  0.4956​  6.93%​  0.3756​  * 5.25%​ *  14.43​  6.36​  12.42%​  FDC  *	2.770	*​  3,954,567,135​  0.3091​  11.16%​  0.1570​  * 5.67%​ *  8.96​  2.37​  16.88%​  GMG  *	5.860	*​  10,228,395,957​  0.3820​  6.52%​  0.2070​  * 3.53%​ *  15.34​  2.88​  103.47%​  GPT  *	4.250	*​  7,163,209,059​  0.3045​  7.16%​  0.2080​  * 4.89%​ *  13.96​  3.82​  11.26%​  IOF  *	3.720	*​  2,284,256,544​  0.2990​  8.04%​  0.1850​  * 4.97%​ *  12.44​  3.35​  11.04%​  MGR  *	1.825	*​  6,747,385,200​  0.1219​  6.68%​  0.0900​  * 4.93%​ *  14.97​  1.66​  9.94%​  NVN  *	2.170	*​  6,619,271,928​  0.1361​  6.27%​  0.1360​  * 6.27%​ *  15.94​  1.90​  14.21%​  SCP  *	1.880	*​  1,219,421,242​  0.1220​  6.49%​  0.1080​  * 5.74%​ *  15.41​  1.57​  19.75%​  SCG  *	3.520	*​  18,741,524,307​  0.2150​  6.11%​  0.2150​  * 6.11%​ *  16.37​  2.88​  22.22%​  SGP  *	4.120	*​  9,676,836,585​  0.2280​  5.53%​  0.2400​  * 5.83%​ *  18.07​  3.53​  16.71%​  wfd  *	8.940	*​  18,578,121,793​  0.4380​  4.90%​  0.4380​  * 4.90%​ *  20.41​  3.80​  135.26%​ 



*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		05-Dec-14				12-Dec-14		  	Abacus Property	 ABP  2.890​  3.000​  0.11​  3.81%​ 	BWP Trust	 BWP  2.620​  2.650​  0.03​  1.15%​ 	Charter Hall	 CHC  4.720​  4.890​  0.17​  3.60%​ 	Charter Hall Retail	 CQR  4.140​  4.120​  -0.02​  -0.48%​ 	Cromwell	 CMW  1.015​  1.035​  0.02​  1.97%​ 	Dexus	 DXS  7.070​  7.150​  0.08​  1.13%​ 	Federation Centres	 FDC  2.800​  2.770​  -0.03​  -1.07%​ 	Goodman Group	 GMG  5.650​  5.860​  0.21​  3.72%​ 	GPT Group	 GPT  4.250​  4.250​  0.00​  0.00%​ 	Investa Office	 IOF  3.670​  3.720​  0.05​  1.36%​ 	Mirvac Group	 MGR  1.805​  1.825​  0.02​  1.11%​ 	Novion Property Group	 NVN  2.190​  2.170​  -0.02​  -0.91%​ 	SCA Property Group	 SCP  1.835​  1.880​  0.04​  2.45%​ 	Scentre Group	 SCG  3.540​  3.520​  -0.02​  -0.56%​ 	Stockland Property	 SGP  4.200​  4.120​  -0.08​  -1.90%​ 	Westfield Corporation	 wfd  8.550​  8.940​  0.39​  *	4.56%	*​ 



*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector. Australand has now been removed from the list.  CFS Retail property (CFX) has been renamed to Novion Property Group (NVN) and Dexus has consolidated their shares on the bases of 1 for 6.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 21 November 2014, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 21 November 2014. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The table figures for SCG and WFD are based on the proposal issued 4 December 2013. The issued shares are correct but the Earnings and Distributions are based on the December proposal 2014 forecast earnings. These figures will be adjusted as and when Scentre/Westfields release their respective figures. SCG has advised on 6 November 2014 "Scentre Group reconfirms its forecast FFO of 10.88 cents per security with a distribution forecast of 10.2 cents per security for the six months ending 31 December 2014".

*5.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*6.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## rimtas (14 December 2014)

It is amazing how the REIT buble keeps inflating while the rest of the market is deflating..Remainds me of US markets where everything toped out years and months ago, but the last man-blue chips- are still standing...


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## nulla nulla (21 December 2014)

*A-REIT Sector:  Weekending Friday 19 December 2014 *

Deja vu this week as last weeks roller coaster ride continued, dipping early in the week only to surge late in the week, pushing the A-REIT Property Sector to another Six (6) year high. Even though the All-Ords managed to turn around an eight day losing streak the A-REIT Propert Sector continued to maintain the upward gap from the All-Ords. 

I'm not afraid of heights but some of  the share price levels at Fridays close are making me dizzy. I suspect there will be a brutal pull back on some of them when they go ex-div on 29 December 2014.




The *A-REIT Table* for closing prices for week ending * 19 December 2014 * follows:


	Code	 *	Closing Price	* 		Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Premium to NTA		           ABP  *	2.960	*​  1,522,763,517​  0.2227​  7.52%​  0.1675​  * 5.66%​ *  13.29​  2.38​  24.37%​  BWP  *	2.800	*​  1,791,229,513​  0.2434​  8.69%​  0.1471​  * 5.25%​ *  11.50​  2.07​  35.27%​  CHC  *	4.680	*​  1,661,641,207​  0.2561​  5.47%​  0.2230​  * 4.76%​ *  18.27​  2.38​  96.64%​  CQR  *	4.250	*​  1,584,795,900​  0.2395​  5.64%​  0.2730​  * 6.42%​ *  17.75​  3.40​  25.00%​  CMW  *	1.060	*​  1,839,417,770​  0.1062​  10.02%​  0.0789​  * 7.44%​ *  9.98​  0.73​  45.21%​  DXS  *	7.100	*​  6,429,275,759​  0.4956​  6.98%​  0.3756​  * 5.29%​ *  14.33​  6.36​  11.64%​  FDC  *	2.820	*​  4,025,949,213​  0.3091​  10.96%​  0.1570​  * 5.57%​ *  9.12​  2.37​  18.99%​  GMG  *	5.880	*​  10,263,305,159​  0.3820​  6.50%​  0.2070​  * 3.52%​ *  15.39​  2.88​  104.17%​  GPT  *	4.370	*​  7,365,464,373​  0.3045​  6.97%​  0.2080​  * 4.76%​ *  14.35​  3.82​  14.40%​  IOF  *	3.690	*​  2,265,835,120​  0.2990​  8.10%​  0.1850​  * 5.01%​ *  12.34​  3.35​  10.15%​  MGR  *	1.830	*​  6,765,871,187​  0.1219​  6.66%​  0.0900​  * 4.92%​ *  15.01​  1.66​  10.24%​  NVN  *	2.200	*​  6,710,782,599​  0.1361​  6.19%​  0.1360​  * 6.18%​ *  16.16​  1.90​  15.79%​  SCP  *	1.875	*​  1,216,178,100​  0.1220​  6.51%​  0.1080​  * 5.76%​ *  15.37​  1.57​  19.43%​  SCG  *	3.550	*​  18,901,253,207​  0.2150​  6.06%​  0.2150​  * 6.06%​ *  16.51​  2.88​  23.26%​  SGP  *	4.210	*​  9,888,223,792​  0.2280​  5.42%​  0.2400​  * 5.70%​ *  18.46​  3.53​  19.26%​  wfd  *	9.020	*​  18,744,368,968​  0.4380​  4.86%​  0.4380​  * 4.86%​ *  20.59​  3.80​  137.37%​ 



*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		12-Dec-14				19-Dec-14		  	Abacus Property	 ABP  3.000​  2.960​  -0.04​  -1.33%​ 	BWP Trust	 BWP  2.650​  2.800​  0.15​  *	5.66%	*​ 	Charter Hall	 CHC  4.890​  4.680​  -0.21​  -4.29%​ 	Charter Hall Retail	 CQR  4.120​  4.250​  0.13​  3.16%​ 	Cromwell	 CMW  1.035​  1.060​  0.03​  2.42%​ 	Dexus	 DXS  7.150​  7.100​  -0.05​  -0.70%​ 	Federation Centres	 FDC  2.770​  2.820​  0.05​  1.81%​ 	Goodman Group	 GMG  5.860​  5.880​  0.02​  0.34%​ 	GPT Group	 GPT  4.250​  4.370​  0.12​  2.82%​ 	Investa Office	 IOF  3.720​  3.690​  -0.03​  -0.81%​ 	Mirvac Group	 MGR  1.825​  1.830​  0.01​  0.27%​ 	Novion Property Group	 NVN  2.170​  2.200​  0.03​  1.38%​ 	SCA Property Group	 SCP  1.880​  1.875​  0.00​  -0.27%​ 	Scentre Group	 SCG  3.520​  3.550​  0.03​  0.85%​ 	Stockland Property	 SGP  4.120​  4.210​  0.09​  2.18%​ 	Westfield Corporation	 wfd  8.940​  9.020​  0.08​  0.89%​ 



*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector. Australand has now been removed from the list.  CFS Retail property (CFX) has been renamed to Novion Property Group (NVN) and Dexus has consolidated their shares on the bases of 1 for 6.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 21 November 2014, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 21 November 2014. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The table figures for SCG and WFD are based on the proposal issued 4 December 2013. The issued shares are correct but the Earnings and Distributions are based on the December proposal 2014 forecast earnings. These figures will be adjusted as and when Scentre/Westfields release their respective figures. SCG has advised on 6 November 2014 "Scentre Group reconfirms its forecast FFO of 10.88 cents per security with a distribution forecast of 10.2 cents per security for the six months ending 31 December 2014".

*5.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*6.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


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## Toyota Lexcen (23 December 2014)

Thanks NN, yeah they have risen well of recent, i mainly watching Goodman now for entry


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## Bill M (23 December 2014)

I use to be an active investor in REIT's a few years ago but I sold out of most of my holdings just before the worst of the GFC hit. In those days I was always looking for REIT's close to or under NTA. Doesn't it bother any of you that all of the REIT's are trading at a premium to NTA? Some at 100% premium to NTA? I have been out of touch with REIT's lately and wondered if there is a rational explanation for this.


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## nulla nulla (23 December 2014)

Bill M said:


> I use to be an active investor in REIT's a few years ago but I sold out of most of my holdings just before the worst of the GFC hit. In those days I was always looking for REIT's close to or under NTA. Doesn't it bother any of you that all of the REIT's are trading at a premium to NTA? Some at 100% premium to NTA? I have been out of touch with REIT's lately and wondered if there is a rational explanation for this.




NTA v's Share price used to be a good bench mark when looking for undervalued A-REIT shares. However the bigger A-REIT's have wised up to "Assets under management". The practice of acquiring a controlling interest in the Assets and applying a management fee as well as retaining, say, 51% of ownership/income means that they can use the same amount of capital from one Asset owned outright to control two or more Assets owned at say 50%. NTA representing Assets owned outright is no longer a good indicator of worth, earnings capability etc.


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## Bill M (23 December 2014)

^^^ Thanks for that explanation NN.


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## nulla nulla (28 December 2014)

*A-REIT Sector:  Wednesday 24 December 2014 *

The rally peaked, dipped and then climbed back to the peak (or near enough to it). There I was with my cheque book ready for any retrace on Wednesday before the close and it just did not happen.  On Monday I am expecting a retrace on those shares that go ex-div but I also wouldn't be surprised if there were quick rebounds as well. 

Mind you some of the A-REIT's are trading at their highs and a pull back in line with the All-Ords as fund managers jiggle their portfolios and generate brokerages in the run up to the end of the quarter (bonus time) can move prices around as well. Trade carefully.

I hope the readers of this thread had a good 2014 and I wish you a Happy New Year and prosperous trading for 2015. 




The *A-REIT Table* for closing prices for Wednesday * 24 December 2014 * follows:


	Code	 *	Closing Price	* 		Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Premium to NTA		           ABP  *	3.000	*​  1,543,341,402​  0.2227​  7.42%​  0.1675​  * 5.58%​ *  13.47​  2.38​  26.05%​  BWP  *	2.840	*​  1,816,818,506​  0.2434​  8.57%​  0.1471​  * 5.18%​ *  11.67​  2.07​  37.20%​  CHC  *	4.790	*​  1,700,696,877​  0.2561​  5.35%​  0.2230​  * 4.66%​ *  18.70​  2.38​  101.26%​  CQR  *	4.320	*​  1,610,898,421​  0.2395​  5.54%​  0.2730​  * 6.32%​ *  18.04​  3.40​  27.06%​  CMW  *	1.070	*​  1,856,770,768​  0.1062​  9.93%​  0.0789​  * 7.37%​ *  10.08​  0.73​  46.58%​  DXS  *	7.320	*​  6,628,492,754​  0.4956​  6.77%​  0.3756​  * 5.13%​ *  14.77​  6.36​  15.09%​  FDC  *	2.880	*​  4,111,607,707​  0.3091​  10.73%​  0.1570​  * 5.45%​ *  9.32​  2.37​  21.52%​  GMG  *	5.990	*​  10,455,305,765​  0.3820​  6.38%​  0.2070​  * 3.46%​ *  15.68​  2.88​  107.99%​  GPT  *	4.490	*​  7,567,719,688​  0.3045​  6.78%​  0.2080​  * 4.63%​ *  14.75​  3.82​  17.54%​  IOF  *	3.720	*​  2,284,256,544​  0.2990​  8.04%​  0.1850​  * 4.97%​ *  12.44​  3.35​  11.04%​  MGR  *	1.875	*​  6,932,245,069​  0.1219​  6.50%​  0.0900​  * 4.80%​ *  15.38​  1.66​  12.95%​  NVN  *	2.230	*​  6,802,293,271​  0.1361​  6.10%​  0.1360​  * 6.10%​ *  16.39​  1.90​  17.37%​  SCP  *	1.900	*​  1,232,393,808​  0.1220​  6.42%​  0.1080​  * 5.68%​ *  15.57​  1.57​  21.02%​  SCG  *	3.610	*​  19,220,711,008​  0.2150​  5.96%​  0.2150​  * 5.96%​ *  16.79​  2.88​  25.35%​  SGP  *	4.250	*​  9,982,173,662​  0.2280​  5.36%​  0.2400​  * 5.65%​ *  18.64​  3.53​  20.40%​  WFD  *	9.160	*​  19,035,301,524​  0.4380​  4.78%​  0.4380​  * 4.78%​ *  20.91​  3.80​  141.05%​ 



*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		19-Dec-14				24-Dec-14		  	Abacus Property	 ABP  2.960​  3.000​  0.04​  1.35%​ 	BWP Trust	 BWP  2.800​  2.840​  0.04​  1.43%​ 	Charter Hall	 CHC  4.680​  4.790​  0.11​  2.35%​ 	Charter Hall Retail	 CQR  4.250​  4.320​  0.07​  1.65%​ 	Cromwell	 CMW  1.060​  1.070​  0.01​  0.94%​ 	Dexus	 DXS  7.100​  7.320​  0.22​  3.10%​ 	Federation Centres	 FDC  2.820​  2.880​  0.06​  2.13%​ 	Goodman Group	 GMG  5.880​  5.990​  0.11​  1.87%​ 	GPT Group	 GPT  4.370​  4.490​  0.12​  2.75%​ 	Investa Office	 IOF  3.690​  3.720​  0.03​  0.81%​ 	Mirvac Group	 MGR  1.830​  1.875​  0.04​  2.46%​ 	Novion Property Group	 NVN  2.200​  2.230​  0.03​  1.36%​ 	SCA Property Group	 SCP  1.875​  1.900​  0.02​  1.33%​ 	Scentre Group	 SCG  3.550​  3.610​  0.06​  1.69%​ 	Stockland Property	 SGP  4.210​  4.250​  0.04​  0.95%​ 	Westfield Corporation	 WFD  9.020​  9.160​  0.14​  1.55%​ 



*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector. Australand has now been removed from the list.  CFS Retail property (CFX) has been renamed to Novion Property Group (NVN) and Dexus has consolidated their shares on the bases of 1 for 6.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 21 November 2014, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 21 November 2014. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The table figures for SCG and WFD are based on the proposal issued 4 December 2013. The issued shares are correct but the Earnings and Distributions are based on the December proposal 2014 forecast earnings. These figures will be adjusted as and when Scentre/Westfields release their respective figures. SCG has advised on 6 November 2014 "Scentre Group reconfirms its forecast FFO of 10.88 cents per security with a distribution forecast of 10.2 cents per security for the six months ending 31 December 2014".

*5.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*6.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


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## Toyota Lexcen (28 December 2014)

Thanks nulla nulla, a great resource for those interested in the REIT sector


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## coolcup (28 December 2014)

nulla nulla said:


> I hope the readers of this thread had a good 2014 and I wish you a Happy New Year and prosperous trading for 2015.




And to you too Nulla!


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## nulla nulla (4 January 2015)

*A-REIT Sector:  Weekending 02 January 2015 *

The retrace on those shares that went ex-div didn't happen on Monday so anyone that held on for the dividends and sold off on Monday has done very well out of the recent price run up. The Sell Off in the sector kicked in on Tuesday and Wednesday, with many of the shares being sold down by the dividend component and a bit more to boot. 

Low ball bids lobbed into the queues on Monday got filled Wednesday afternoon as many shares entered an "oversold" area (imo) but were back in the black on Friday. Volumes this week were very thin, most of the fund managers must have taken a holiday although there was still evidence of high frequency traders testing the buy/sell queues with multiple small volume transactions. I guess computers don't get holidays. 





The *A-REIT Table* for closing prices for Weekending * 02 January 2015 * follows:


	Code	 *	Closing Price	* 		Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Premium to NTA		           ABP  *	3.050	*​  1,569,063,759​  0.2227​  7.30%​  0.1675​  * 5.49%​ *  13.70​  2.38​  28.15%​  BWP  *	2.800	*​  1,791,229,513​  0.2434​  8.69%​  0.1471​  * 5.25%​ *  11.50​  2.07​  35.27%​  CHC  *	4.570	*​  1,622,585,538​  0.2561​  5.60%​  0.2230​  * 4.88%​ *  17.84​  2.38​  92.02%​  CQR  *	4.160	*​  1,551,235,516​  0.2395​  5.76%​  0.2730​  * 6.56%​ *  17.37​  3.40​  22.35%​  CMW  *	1.045	*​  1,813,388,273​  0.1062​  10.16%​  0.0789​  * 7.55%​ *  9.84​  0.73​  43.15%​  DXS  *	7.060	*​  6,393,054,487​  0.4956​  7.02%​  0.3756​  * 5.32%​ *  14.25​  6.36​  11.01%​  FDC  *	2.880	*​  4,111,607,707​  0.3091​  10.73%​  0.1570​  * 5.45%​ *  9.32​  2.37​  21.52%​  GMG  *	5.800	*​  10,123,668,354​  0.3820​  6.59%​  0.2070​  * 3.57%​ *  15.18​  2.88​  101.39%​  GPT  *	4.410	*​  7,432,882,812​  0.3045​  6.90%​  0.2080​  * 4.72%​ *  14.48​  3.82​  15.45%​  IOF  *	3.680	*​  2,259,694,645​  0.2990​  8.13%​  0.1850​  * 5.03%​ *  12.31​  3.35​  9.85%​  MGR  *	1.810	*​  6,691,927,240​  0.1219​  6.73%​  0.0900​  * 4.97%​ *  14.85​  1.66​  9.04%​  NVN  *	2.150	*​  6,558,264,813​  0.1361​  6.33%​  0.1360​  * 6.33%​ *  15.80​  1.90​  13.16%​  SCP  *	1.870	*​  1,212,934,958​  0.1220​  6.52%​  0.1080​  * 5.78%​ *  15.33​  1.57​  19.11%​  SCG  *	3.530	*​  18,794,767,273​  0.2150​  6.09%​  0.2150​  * 6.09%​ *  16.42​  2.88​  22.57%​  SGP  *	4.140	*​  9,723,811,520​  0.2280​  5.51%​  0.2400​  * 5.80%​ *  18.16​  3.53​  17.28%​  WFD  *	9.160	*​  19,035,301,524​  0.4380​  4.78%​  0.4380​  * 4.78%​ *  20.91​  3.80​  141.05%​ 



*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		24-Dec-14				02-Jan-15		  	Abacus Property	 ABP  3.000​  3.050​  0.05​  1.67%​ 	BWP Trust	 BWP  2.840​  2.800​  -0.04​  -1.41%​ 	Charter Hall	 CHC  4.790​  4.570​  -0.22​  -4.59%​ 	Charter Hall Retail	 CQR  4.320​  4.160​  -0.16​  -3.70%​ 	Cromwell	 CMW  1.070​  1.045​  -0.03​  -2.34%​ 	Dexus	 DXS  7.320​  7.060​  -0.26​  -3.55%​ 	Federation Centres	 FDC  2.880​  2.880​  0.00​  0.00%​ 	Goodman Group	 GMG  5.990​  5.800​  -0.19​  -3.17%​ 	GPT Group	 GPT  4.490​  4.410​  -0.08​  -1.78%​ 	Investa Office	 IOF  3.720​  3.680​  -0.04​  -1.08%​ 	Mirvac Group	 MGR  1.875​  1.810​  -0.06​  -3.47%​ 	Novion Property Group	 NVN  2.230​  2.150​  -0.08​  -3.59%​ 	SCA Property Group	 SCP  1.900​  1.870​  -0.03​  -1.58%​ 	Scentre Group	 SCG  3.610​  3.530​  -0.08​  -2.22%​ 	Stockland Property	 SGP  4.250​  4.140​  -0.11​  -2.59%​ 	Westfield Corporation	 WFD  9.160​  9.160​  0.00​  0.00%​ 


* All in all the A-REIT Sector was one of the better performing sectors for 2015. From a closing level of 9849 points on 3 January 2014, the closing level of 11,850 on Friday 02 January 2015 represent an increase of 20.31%.  A comparison of the closing prices for Week Ending 03 January 2014 with the closing prices for Week Ending 02 January 2015 follows so you can see how your A-REIT shares performed this year: *


	Share		Code			Closing Price				Closing Price				Change $					Change %				Share	  		03-Jan-14				02-Jan-15		   	Abacus Property	 ABP  2.340​  3.050​  0.71​  *	30.34%	*​ 	Abacus Property		BWP Trust	 BWP  2.220​  2.800​  0.58​  26.13%​ 	BWP Trust		Charter Hall	 CHC  3.670​  4.570​  0.90​  24.52%​ 	Charter Hall		Charter Hall Retail	 CQR  3.620​  4.160​  0.54​  14.92%​ 	Charter Hall Retail		Cromwell	 CMW  0.980​  1.045​  0.06​  6.63%​ 	Cromwell		Dexus	 DXS  6.120​  7.060​  0.94​  15.36%​ 	Dexus		Federation Centres	 FDC  2.320​  2.880​  0.56​  24.14%​ 	Federation Centres		Goodman Group	 GMG  4.760​  5.800​  1.04​  21.85%​ 	Goodman Group		GPT Group	 GPT  3.490​  4.410​  0.92​  26.36%​ 	GPT Group		Investa Office	 IOF  3.160​  3.680​  0.52​  16.46%​ 	Investa Office		Mirvac Group	 MGR  1.705​  1.810​  0.11​  6.16%​ 	Mirvac Group		Novion Property Group	 NVN  1.940​  2.150​  0.21​  10.82%​ 	CFS Retail Trust		SCA Property Group	 SCP  1.545​  1.870​  0.33​  21.04%​ 	SCA Property Group		Scentre Group	 SCG  3.000​  3.530​  0.53​  17.67%​ 	Westfield Retail		Stockland Property	 SGP  3.640​  4.140​  0.50​  13.74%​ 	Stockland Property		Westfield Corporation	 WFD  10.180​  9.160​  -1.02​  -10.02%​ 	Westfield	


Don't be fooled by the* Westfield *figures. The simple comparison of closing prices does not adequately reflect the outcome of the Westfield/Westfield Retail restructure to Westfield Corporation and Scentre Group. One article in the Sydney Morning Herald Business Day section rated the Westfield change for the year as *plus 40%* being the best performer on the ASX for the year ahead on Lend Lease.


 *Code*  *		Closing Price		*  *Capital*  *Earnings $*  *ROE*  *Dist $*  *		Yield %		*  *P/E*  *NTA $*  *Premium to NTA*    *		03-Jan-14		*         WDC  * 10.180​ *  21,515,448,467​  0.6424​  6.31%​  0.5025​  * 4.94%​ *  15.85​  6.99​  45.64%​ 	WRT	 * 3.000​ *  8,762,980,902​  0.2670​  8.90%​  0.1942​  * 6.47%​ *  11.24​  3.47​  -13.54%​              30,278,429,369​   ​      


 *Code*  *		Closing Price		*  *Capital*  *Earnings $*  *ROE*  *Dist $*  *		Yield %		*  *P/E*  *NTA $*  *Premium to NTA*    *		02-Jan-15		*         WFD  * 9.160​ *  19,035,301,524​  0.4380​  4.78%​  0.4380​  * 4.78%​ *  20.91​  3.80​  141.05%​  SCG  * 3.530​ *  18,794,767,273​  0.2150​  6.09%​  0.2150​  * 6.09%​ *  16.42​  2.88​  22.57%​              37,830,068,797​   ​      



A combined capital growth of* $7.5 billion *is nothing to sneeze at. Holders of Westfield shares before the restructure did very well, holders of shares in both Westfield and Westfield Retail did even better.


*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector. Australand has now been removed from the list.  CFS Retail property (CFX) has been renamed to Novion Property Group (NVN) and Dexus has consolidated their shares on the bases of 1 for 6.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 21 November 2014, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 21 November 2014. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The table figures for SCG and WFD are based on the proposal issued 4 December 2013. The issued shares are correct but the Earnings and Distributions are based on the December proposal 2014 forecast earnings. These figures will be adjusted as and when Scentre/Westfields release their respective figures. SCG has advised on 6 November 2014 "Scentre Group reconfirms its forecast FFO of 10.88 cents per security with a distribution forecast of 10.2 cents per security for the six months ending 31 December 2014".

*5.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*6.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## Logique (6 January 2015)

Geez Nulla,
when you're right, you're right. Oil clobbered, Europe clobbered.

5 Jan 2015

In late trade, S&P 500 -1.9%, Dow -1.9%, Nasdaq -1.7%

In Europe, Stoxx 50 -3.7%, FTSE -2%, CAC -3.3%, DAX -3%


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## nulla nulla (6 January 2015)

nulla nulla said:


> *A-REIT Sector:  Weekending 02 January 2015 *
> 
> .......
> * All in all the A-REIT Sector was one of the better performing sectors for 2015*..... .




This should read....."All in all the A-REIT Sector was one of the better performing sectors for *2014*".

However, as investors scramble for the security of yield in 2015 there is no reason that A-REIT's can't repeat the performance in 2015.


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## nulla nulla (10 January 2015)

*A-REIT Sector:  Weekending 09 January 2015 *

A volatile week. In on Monday and out on Thursday/Friday as the A-REIT Sector provided a safe haven for investors nervous about Greece, then a surge in share prices as investors followed the lead from the US and Europe shrugging off concerns about Greece. 

At one point early in the week the pundits were calling the arrival of the long overdue 10% correction as the Dow Jones fell to the low 17,000's, then they pulled their heads in when the Dow shot back up on Wednesday and Thursday. The Dow retreated again in Friday trading, the All Ords will probably have a kneejerk retrace on Monday. The volatility continues.   





The *A-REIT Table* for closing prices for Weekending * 09 January 2015 * follows:


	Code	 *	Closing Price	* 		Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Premium to NTA		           ABP  *	3.230	*​  1,661,664,243​  0.2227​  6.89%​  0.1675​  * 5.19%​ *  14.50​  2.38​  35.71%​  BWP  *	2.880	*​  1,842,407,499​  0.2434​  8.45%​  0.1471​  * 5.11%​ *  11.83​  2.07​  39.13%​  CHC  *	4.640	*​  1,647,439,146​  0.2561​  5.52%​  0.2230​  * 4.81%​ *  18.12​  2.38​  94.96%​  CQR  *	4.270	*​  1,592,253,763​  0.2395​  5.61%​  0.2730​  * 6.39%​ *  17.83​  3.40​  25.59%​  CMW  *	1.080	*​  1,874,123,766​  0.1062​  9.83%​  0.0789​  * 7.31%​ *  10.17​  0.73​  47.95%​  DXS  *	7.290	*​  6,601,326,800​  0.4956​  6.80%​  0.3756​  * 5.15%​ *  14.71​  6.36​  14.62%​  FDC  *	2.940	*​  4,197,266,201​  0.3091​  10.51%​  0.1570​  * 5.34%​ *  9.51​  2.37​  24.05%​  GMG  *	5.900	*​  10,298,214,360​  0.3820​  6.47%​  0.2070​  * 3.51%​ *  15.45​  2.88​  104.86%​  GPT  *	4.470	*​  7,534,010,469​  0.3045​  6.81%​  0.2080​  * 4.65%​ *  14.68​  3.82​  17.02%​  IOF  *	3.750	*​  2,302,677,968​  0.2990​  7.97%​  0.1850​  * 4.93%​ *  12.54​  3.35​  11.94%​  MGR  *	1.880	*​  6,950,731,056​  0.1219​  6.48%​  0.0900​  * 4.79%​ *  15.42​  1.66​  13.25%​  NVN  *	2.190	*​  6,680,279,042​  0.1361​  6.21%​  0.1360​  * 6.21%​ *  16.09​  1.90​  15.26%​  SCP  *	1.885	*​  1,222,664,383​  0.1220​  6.47%​  0.1080​  * 5.73%​ *  15.45​  1.57​  20.06%​  SCG  *	3.650	*​  19,433,682,875​  0.2150​  5.89%​  0.2150​  * 5.89%​ *  16.98​  2.88​  26.74%​  SGP  *	4.230	*​  9,935,198,727​  0.2280​  5.39%​  0.2400​  * 5.67%​ *  18.55​  3.53​  19.83%​  WFD  *	9.630	*​  20,012,003,676​  0.4380​  4.55%​  0.4380​  * 4.55%​ *  21.99​  3.80​  153.42%​ 



*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		02-Jan-15				09-Jan-15		  	Abacus Property	 ABP  3.050​  3.230​  0.18​  *	5.90%	*​ 	BWP Trust	 BWP  2.800​  2.880​  0.08​  2.86%​ 	Charter Hall	 CHC  4.570​  4.640​  0.07​  1.53%​ 	Charter Hall Retail	 CQR  4.160​  4.270​  0.11​  2.64%​ 	Cromwell	 CMW  1.045​  1.080​  0.04​  3.35%​ 	Dexus	 DXS  7.060​  7.290​  0.23​  3.26%​ 	Federation Centres	 FDC  2.880​  2.940​  0.06​  2.08%​ 	Goodman Group	 GMG  5.800​  5.900​  0.10​  1.72%​ 	GPT Group	 GPT  4.410​  4.470​  0.06​  1.36%​ 	Investa Office	 IOF  3.680​  3.750​  0.07​  1.90%​ 	Mirvac Group	 MGR  1.810​  1.880​  0.07​  3.87%​ 	Novion Property Group	 NVN  2.150​  2.190​  0.04​  1.86%​ 	SCA Property Group	 SCP  1.870​  1.885​  0.01​  0.80%​ 	Scentre Group	 SCG  3.530​  3.650​  0.12​  3.40%​ 	Stockland Property	 SGP  4.140​  4.230​  0.09​  2.17%​ 	Westfield Corporation	 WFD  9.160​  9.630​  0.47​  5.13%​ 




*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector. 

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 21 November 2014, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 21 November 2014. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The table figures for SCG and WFD are based on the proposal issued 4 December 2013. The issued shares are correct but the Earnings and Distributions are based on the December proposal 2014 forecast earnings. These figures will be adjusted as and when Scentre/Westfields release their respective figures. SCG has advised on 6 November 2014 "Scentre Group reconfirms its forecast FFO of 10.88 cents per security with a distribution forecast of 10.2 cents per security for the six months ending 31 December 2014".

*5.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*6.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (18 January 2015)

*A-REIT Sector:  Weekending Friday 16 January 2015 *

The anticipated retrace for Monday 12 January 2015 turned into a sustained fall for five (5) consecutive days. Across the A-REIT sector most shares, with the exception of Scentre Group, gave up their gains for the previous week and retreated to levels at or below 02 January 2015.  

The economic news for the week was mixed, oil down, iron ore down and unemployment down. However the Swiss unlocked their currency from the Euro and even though the Aud$ was seen as a safe haven, rising against the U.S$ and the Euro, the All Ords and the Property Sector continued to fall following the leads from the global markets. Apparently almost one fifth of foreign investment in Australia originates from Switzerland.

One ray of sunshine was the lift in the European and U.S markets in Fridays trading.  No doubt the volatility in our markets will continue this week.   





The *A-REIT Table* for closing prices for Weekending * 16 January 2015 * follows:


	Code	 *	Closing Price	* 		Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Premium to NTA		           ABP  *	2.980	*​  1,533,052,459​  0.2227​  7.47%​  0.1675​  * 5.62%​ *  13.38​  2.38​  25.21%​  BWP  *	2.720	*​  1,740,051,527​  0.2434​  8.95%​  0.1471​  * 5.41%​ *  11.18​  2.07​  31.40%​  CHC  *	4.590	*​  1,629,686,569​  0.2561​  5.58%​  0.2230​  * 4.86%​ *  17.92​  2.38​  92.86%​  CQR  *	4.260	*​  1,588,524,832​  0.2395​  5.62%​  0.2730​  * 6.41%​ *  17.79​  3.40​  25.29%​  CMW  *	1.035	*​  1,796,035,275​  0.1062​  10.26%​  0.0789​  * 7.62%​ *  9.75​  0.73​  41.78%​  DXS  *	7.050	*​  6,383,999,169​  0.4956​  7.03%​  0.3756​  * 5.33%​ *  14.23​  6.36​  10.85%​  FDC  *	2.890	*​  4,125,884,123​  0.3091​  10.70%​  0.1570​  * 5.43%​ *  9.35​  2.37​  21.94%​  GMG  *	5.790	*​  10,106,213,753​  0.3820​  6.60%​  0.2070​  * 3.58%​ *  15.16​  2.88​  101.04%​  GPT  *	4.380	*​  7,382,318,983​  0.3045​  6.95%​  0.2080​  * 4.75%​ *  14.38​  3.82​  14.66%​  IOF  *	3.660	*​  2,247,413,696​  0.2990​  8.17%​  0.1850​  * 5.05%​ *  12.24​  3.35​  9.25%​  MGR  *	1.835	*​  6,784,357,174​  0.1219​  6.64%​  0.0900​  * 4.90%​ *  15.05​  1.66​  10.54%​  NVN  *	2.180	*​  6,649,775,485​  0.1361​  6.24%​  0.1360​  * 6.24%​ *  16.02​  1.90​  14.74%​  SCP  *	1.835	*​  1,190,232,967​  0.1220​  6.65%​  0.1080​  * 5.89%​ *  15.04​  1.57​  16.88%​  SCG  *	3.750	*​  19,966,112,543​  0.2150​  5.73%​  0.2150​  * 5.73%​ *  17.44​  2.88​  30.21%​  SGP  *	4.130	*​  9,700,324,053​  0.2280​  5.52%​  0.2400​  * 5.81%​ *  18.11​  3.53​  17.00%​  WFD  *	9.060	*​  18,827,492,555​  0.4380​  4.83%​  0.4380​  * 4.83%​ *  20.68​  3.80​  138.42%​ 



*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		09-Jan-15				16-Jan-15		  	Abacus Property	 ABP  3.230​  2.980​  -0.25​  *	-7.74%	*​ 	BWP Trust	 BWP  2.880​  2.720​  -0.16​  -5.56%​ 	Charter Hall	 CHC  4.640​  4.590​  -0.05​  -1.08%​ 	Charter Hall Retail	 CQR  4.270​  4.260​  -0.01​  -0.23%​ 	Cromwell	 CMW  1.080​  1.035​  -0.05​  -4.17%​ 	Dexus	 DXS  7.290​  7.050​  -0.24​  -3.29%​ 	Federation Centres	 FDC  2.940​  2.890​  -0.05​  -1.70%​ 	Goodman Group	 GMG  5.900​  5.790​  -0.11​  -1.86%​ 	GPT Group	 GPT  4.470​  4.380​  -0.09​  -2.01%​ 	Investa Office	 IOF  3.750​  3.660​  -0.09​  -2.40%​ 	Mirvac Group	 MGR  1.880​  1.835​  -0.04​  -2.39%​ 	Novion Property Group	 NVN  2.190​  2.180​  -0.01​  -0.46%​ 	SCA Property Group	 SCP  1.885​  1.835​  -0.05​  -2.65%​ 	Scentre Group	 SCG  3.650​  3.750​  0.10​  *2.74%*​ 	Stockland Property	 SGP  4.230​  4.130​  -0.10​  -2.36%​ 	Westfield Corporation	 WFD  9.630​  9.060​  -0.57​  -5.92%​ 




*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector. 

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 21 November 2014, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 21 November 2014. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The table figures for SCG and WFD are based on the proposal issued 4 December 2013. The issued shares are correct but the Earnings and Distributions are based on the December proposal 2014 forecast earnings. These figures will be adjusted as and when Scentre/Westfields release their respective figures. SCG has advised on 6 November 2014 "Scentre Group reconfirms its forecast FFO of 10.88 cents per security with a distribution forecast of 10.2 cents per security for the six months ending 31 December 2014".

*5.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*6.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## Toyota Lexcen (18 January 2015)

cheers nulla nulla,


----------



## nulla nulla (25 January 2015)

*A-REIT Sector:  Weekending Friday 23 January 2015 *

Jaw dropping. That's the only description that adequately describes the movement in the A-REIT Sector this week. On Wednesday, in one day, the A-REIT Sector reversed the retrace of the previous seven (7) trading days. On Thursday, the sector struggled to hold the reversal and frankly I was expecting a retrace on Friday to provide some trade entry opportunities. Then the European Central Bank (ECB) announced that they would inject 1.3 trillion dollars into the European economy in their own equivalent of the US quantative easing program (read money printing).

On Friday, the A-REIT Sector took off from the opening bell and never looked back. Some one must have put up a neon sign saying "Hey look at the A-REIT Sector, yields at 5% way better than ECB bank rates and a low entry cost of US$0.80". And the money poured into our market, pushing share prices up to new six year highs. Only question now is, "How long can it last?"  





The *A-REIT Table* for closing prices for Weekending * 23 January 2015 * follows:


	Code	 *	Closing Price	* 		Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Premium to NTA		           ABP  *	3.040	*​  1,563,919,287​  0.2227​  7.33%​  0.1675​  * 5.51%​ *  13.65​  2.38​  27.73%​  BWP  *	2.800	*​  1,791,229,513​  0.2434​  8.69%​  0.1471​  * 5.25%​ *  11.50​  2.07​  35.27%​  CHC  *	4.730	*​  1,679,393,784​  0.2561​  5.41%​  0.2230​  * 4.71%​ *  18.47​  2.38​  98.74%​  CQR  *	4.450	*​  1,659,374,531​  0.2395​  5.38%​  0.2730​  * 6.13%​ *  18.58​  3.40​  30.88%​  CMW  *	1.070	*​  1,856,770,768​  0.1062​  9.93%​  0.0789​  * 7.37%​ *  10.08​  0.73​  46.58%​  DXS  *	7.600	*​  6,882,041,657​  0.4956​  6.52%​  0.3756​  * 4.94%​ *  15.33​  6.36​  19.50%​  FDC  *	3.010	*​  4,297,201,111​  0.3091​  10.27%​  0.1570​  * 5.22%​ *  9.74​  2.37​  27.00%​  GMG  *	6.070	*​  10,594,942,570​  0.3820​  6.29%​  0.2070​  * 3.41%​ *  15.89​  2.88​  110.76%​  GPT  *	4.500	*​  7,584,574,298​  0.3045​  6.77%​  0.2080​  * 4.62%​ *  14.78​  3.82​  17.80%​  IOF  *	3.850	*​  2,364,082,713​  0.2990​  7.77%​  0.1850​  * 4.81%​ *  12.88​  3.35​  14.93%​  MGR  *	1.915	*​  7,080,132,964​  0.1219​  6.37%​  0.0900​  * 4.70%​ *  15.71​  1.66​  15.36%​  NVN  *	2.300	*​  7,015,818,172​  0.1361​  5.92%​  0.1360​  * 5.91%​ *  16.90​  1.90​  21.05%​  SCP  *	1.895	*​  1,229,150,666​  0.1220​  6.44%​  0.1080​  * 5.70%​ *  15.53​  1.57​  20.70%​  SCG  *	3.860	*​  20,551,785,177​  0.2150​  5.57%​  0.2150​  * 5.57%​ *  17.95​  2.88​  34.03%​  SGP  *	4.350	*​  10,217,048,336​  0.2280​  5.24%​  0.2400​  * 5.52%​ *  19.08​  3.53​  23.23%​  WFD  *	9.680	*​  20,115,908,160​  0.4380​  4.52%​  0.4380​  * 4.52%​ *  22.10​  3.80​  154.74%​ 



*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		16-Jan-15				23-Jan-15		  	Abacus Property	 ABP  2.980​  3.040​  0.06​  2.01%​ 	BWP Trust	 BWP  2.720​  2.800​  0.08​  2.94%​ 	Charter Hall	 CHC  4.590​  4.730​  0.14​  3.05%​ 	Charter Hall Retail	 CQR  4.260​  4.450​  0.19​  4.46%​ 	Cromwell	 CMW  1.035​  1.070​  0.04​  3.38%​ 	Dexus	 DXS  7.050​  7.600​  0.55​  *	7.80%	*​ 	Federation Centres	 FDC  2.890​  3.010​  0.12​  4.15%​ 	Goodman Group	 GMG  5.790​  6.070​  0.28​  4.84%​ 	GPT Group	 GPT  4.380​  4.500​  0.12​  2.74%​ 	Investa Office	 IOF  3.660​  3.850​  0.19​  5.19%​ 	Mirvac Group	 MGR  1.835​  1.915​  0.08​  4.36%​ 	Novion Property Group	 NVN  2.180​  2.300​  0.12​  5.50%​ 	SCA Property Group	 SCP  1.835​  1.895​  0.06​  3.27%​ 	Scentre Group	 SCG  3.750​  3.860​  0.11​  2.93%​ 	Stockland Property	 SGP  4.130​  4.350​  0.22​  5.33%​ 	Westfield Corporation	 WFD  9.060​  9.680​  0.62​  6.84%​ 




*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector. 

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 21 November 2014, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 21 November 2014. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The table figures for SCG and WFD are based on the proposal issued 4 December 2013. The issued shares are correct but the Earnings and Distributions are based on the December proposal 2014 forecast earnings. These figures will be adjusted as and when Scentre/Westfields release their respective figures. SCG has advised on 6 November 2014 "Scentre Group reconfirms its forecast FFO of 10.88 cents per security with a distribution forecast of 10.2 cents per security for the six months ending 31 December 2014".

*5.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*6.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## Tooth Faerie (30 January 2015)

Sorry if this is the wrong thread and if it's a silly question.

I was looking through all the A-REITs and they're all invested in commercial property (or retirement residential). I'm interested in residential property, are there any A-REITs that invest soley or have a large portion of their portfolio in residential property?


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## clowboy (30 January 2015)

In short, not really, the best you can do is the likes of CWP who develop residential property (that is they sell residential land)


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## nulla nulla (30 January 2015)

clowboy said:


> In short, not really, the best you can do is the likes of CWP who develop residential property (that is they sell residential land)






Tooth Faerie said:


> Sorry if this is the wrong thread and if it's a silly question.
> 
> I was looking through all the A-REITs and they're all invested in commercial property (or retirement residential). I'm interested in residential property, are there any A-REITs that invest soley or have a large portion of their portfolio in residential property?




SGP do residential developments, but they also do Retail Centres, Office Blocks and Commercial/Industrial Centres.


----------



## Tooth Faerie (30 January 2015)

clowboy said:


> In short, not really, the best you can do is the likes of CWP who develop residential property (that is they sell residential land)






nulla nulla said:


> SGP do residential developments, but they also do Retail Centres, Office Blocks and Commercial/Industrial Centres.




Thanks guys.

So there's not really a way to indirectly invest in property?

Does commercial property growth correspond closely with residential property? Hypothetically, when residential property experiences good growth, would investing in A-REITs give similar returns rather than having to buy an IP?


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## Bill M (30 January 2015)

Tooth Faerie said:


> Does commercial property growth correspond closely with residential property?




No it doesn't, most REITS lost half their share price during the GFC, the losses were massive and some disappeared all together. Meanwhile residential property in Australia experienced nothing like those losses and in some of the big cities prices just kept on going up.


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## skc (30 January 2015)

Tooth Faerie said:


> So there's not really a way to indirectly invest in property?




As mentioned, you can get exposures to residential properties by investing in residential developers. Companies like DVN, VLW, CWP, AVJ, FRI to name a few. Other names like MGR, SGP, SDG etc also develop residential properties as part of their diversified portfolios.



Tooth Faerie said:


> Does commercial property growth correspond closely with residential property? Hypothetically, when residential property experiences good growth, would investing in A-REITs give similar returns rather than having to buy an IP?




They do correlate... as the underlying drivers are similar. Namely, interest rates and general economic conditions. However, the actual "return" to your invested equity is very different due to leverage.



Bill M said:


> No it doesn't, most REITS lost half their share price during the GFC, the losses were massive and some disappeared all together. Meanwhile residential property in Australia experienced nothing like those losses and in some of the big cities prices just kept on going up.




Yes but that needs to be understood in the context of leverage and equity value. There's leverage internal to all REITs. You are buying the equity component of a REIT. When you consider a residential investment property, at LVR of 80%, a 15% fall in property prices is equivalent to a 75% fall in your equity, which is pretty close to the sort of fall experienced by the REITs during the GFC. 

On the bright side...There's no margin call or mark-to-market in direct investment properties.


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## Logique (31 January 2015)

skc said:


> As mentioned, you can get exposures to residential properties by investing in residential developers. Companies like DVN, VLW, CWP, AVJ, FRI to name a few. Other names like MGR, SGP, SDG etc also develop residential properties as part of their diversified portfolios.....



Tamawood is another domestic one ASX:TWD


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## Tooth Faerie (31 January 2015)

skc said:


> As mentioned, you can get exposures to residential properties by investing in residential developers. Companies like DVN, VLW, CWP, AVJ, FRI to name a few. Other names like MGR, SGP, SDG etc also develop residential properties as part of their diversified portfolios.






Logique said:


> Tamawood is another domestic one ASX:TWD




I will have a look at each of those in more detail. Thanks!




skc said:


> They do correlate... as the underlying drivers are similar. Namely, interest rates and general economic conditions. However, the actual "return" to your invested equity is very different due to leverage.




Does this mean that the return on A-REITs will be higher due to the higher internal leverage?



Bill M said:


> No it doesn't, most REITS lost half their share price during the GFC, the losses were massive and some disappeared all together. Meanwhile residential property in Australia experienced nothing like those losses and in some of the big cities prices just kept on going up.




It seems like residential property is a more "stable" investment, although you may not get a good return compared to other investment strategies depending on timing?


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## nulla nulla (1 February 2015)

*A-REIT Sector:  Weekending Friday 30 January 2015 *

Share prices too high for me to buy. Spreads to thin for me to trade. More risk than reward  at the moment. 






The *A-REIT Table* for closing prices for Weekending * 30 January 2015 * follows:


	Code	 *	Closing Price	* 		Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Premium to NTA		           ABP  *	3.050	*​  1,569,063,759​  0.2227​  7.30%​  0.1675​  * 5.49%​ *  13.70​  2.38​  28.15%​  BWP  *	2.850	*​  1,823,215,754​  0.2434​  8.54%​  0.1471​  * 5.16%​ *  11.71​  2.07​  37.68%​  CHC  *	4.840	*​  1,718,449,454​  0.2561​  5.29%​  0.2230​  * 4.61%​ *  18.90​  2.38​  103.36%​  CQR  *	4.390	*​  1,637,000,942​  0.2395​  5.46%​  0.2730​  * 6.22%​ *  18.33​  3.40​  29.12%​  CMW  *	1.060	*​  1,839,417,770​  0.1062​  10.02%​  0.0789​  * 7.44%​ *  9.98​  0.73​  45.21%​  DXS  *	7.710	*​  6,981,650,155​  0.4956​  6.43%​  0.3756​  * 4.87%​ *  15.56​  6.36​  21.23%​  FDC  *	3.030	*​  4,325,753,942​  0.3091​  10.20%​  0.1570​  * 5.18%​ *  9.80​  2.37​  27.85%​  GMG  *	6.130	*​  10,699,670,174​  0.3820​  6.23%​  0.2070​  * 3.38%​ *  16.05​  2.88​  112.85%​  GPT  *	4.520	*​  7,618,283,517​  0.3045​  6.74%​  0.2080​  * 4.60%​ *  14.84​  3.82​  18.32%​  IOF  *	3.860	*​  2,370,223,188​  0.2990​  7.75%​  0.1850​  * 4.79%​ *  12.91​  3.35​  15.22%​  MGR  *	1.930	*​  7,135,590,924​  0.1219​  6.32%​  0.0900​  * 4.66%​ *  15.83​  1.66​  16.27%​  NVN  *	2.320	*​  7,076,825,287​  0.1361​  5.87%​  0.1360​  * 5.86%​ *  17.05​  1.90​  22.11%​  SCP  *	1.930	*​  1,251,852,658​  0.1220​  6.32%​  0.1080​  * 5.60%​ *  15.82​  1.57​  22.93%​  SCG  *	3.800	*​  20,232,327,376​  0.2150​  5.66%​  0.2150​  * 5.66%​ *  17.67​  2.88​  31.94%​  SGP  *	4.380	*​  10,287,510,739​  0.2280​  5.21%​  0.2400​  * 5.48%​ *  19.21​  3.53​  24.08%​  WFD  *	9.860	*​  20,489,964,304​  0.4380​  4.44%​  0.4380​  * 4.44%​ *  22.51​  3.80​  159.47%​ 



*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		23-Jan-15				30-Jan-15		  	Abacus Property	 ABP  3.040​  3.050​  0.01​  0.33%​ 	BWP Trust	 BWP  2.800​  2.850​  0.05​  1.79%​ 	Charter Hall	 CHC  4.730​  4.840​  0.11​  2.33%​ 	Charter Hall Retail	 CQR  4.450​  4.390​  -0.06​  -1.35%​ 	Cromwell	 CMW  1.070​  1.060​  -0.01​  -0.93%​ 	Dexus	 DXS  7.600​  7.710​  0.11​  1.45%​ 	Federation Centres	 FDC  3.010​  3.030​  0.02​  0.66%​ 	Goodman Group	 GMG  6.070​  6.130​  0.06​  0.99%​ 	GPT Group	 GPT  4.500​  4.520​  0.02​  0.44%​ 	Investa Office	 IOF  3.850​  3.860​  0.01​  0.26%​ 	Mirvac Group	 MGR  1.915​  1.930​  0.01​  0.78%​ 	Novion Property Group	 NVN  2.300​  2.320​  0.02​  0.87%​ 	SCA Property Group	 SCP  1.895​  1.930​  0.03​  1.85%​ 	Scentre Group	 SCG  3.860​  3.800​  -0.06​  -1.55%​ 	Stockland Property	 SGP  4.350​  4.380​  0.03​  0.69%​ 	Westfield Corporation	 WFD  9.680​  9.860​  0.18​  1.86%​ 




*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector. 

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 21 November 2014, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 21 November 2014. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The table figures for SCG and WFD are based on the proposal issued 4 December 2013. The issued shares are correct but the Earnings and Distributions are based on the December proposal 2014 forecast earnings. These figures will be adjusted as and when Scentre/Westfields release their respective figures. SCG has advised on 6 November 2014 "Scentre Group reconfirms its forecast FFO of 10.88 cents per security with a distribution forecast of 10.2 cents per security for the six months ending 31 December 2014".

*5.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*6.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## notting (1 February 2015)

I've noticed the feel of reits have changed a little the last month or so.
I suspect they are going to underperform  this year, may even turn out to be a bad sector.
Property crash?
Will be on the sidelines looking for it to start.


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## Toyota Lexcen (3 February 2015)

A bit of action with nvn and federation centres doing some sort of merger, 

i wonder if the REIT sector is being driven also by the reduction of listed companies,


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## nulla nulla (8 February 2015)

*A-REIT Sector:  Weekending Friday 06 February 2015 *

The recent A-REIT Sector share prices have helped propel the All Ords to new six year highs. Interest rates are low, yields are way better than bank interest rates and price earnings ratio's are relatively low. Federation Centres is proposing a merger with Novion and a few of the other share prices in the sector have jumped on the possibility that they too could become takeover targets.  

Yield rates in the sector which were previously well above 5%, have mostly dropped with 50% of shares in the sector now below 5% as investors hungry for yield and safety have pushed share prices up. Price earnings ratios while still low are also edging higher. 

Not that long ago several of the A-REIT's were trading at a discount to NTA, now most of them are trading at significant premiums to NTA. In some ways the present euphoria reminds me of 2007, however this time the gearing levels are below 35% and dividends are being paid out of earnings not borrowings. Where to now? 





The *A-REIT Table* for closing prices for Weekending * 06 February 2015 * follows:


	Code	 *	Closing Price	* 		Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Premium to NTA		           ABP  *	3.280	*​  1,687,386,600​  0.2227​  6.79%​  0.1675​  * 5.11%​ *  14.73​  2.38​  37.82%​  BWP  *	3.000	*​  1,919,174,478​  0.2434​  8.11%​  0.1471​  * 4.90%​ *  12.33​  2.07​  44.93%​  CHC  *	4.860	*​  1,725,550,484​  0.2561​  5.27%​  0.2230​  * 4.59%​ *  18.98​  2.38​  104.20%​  CQR  *	4.430	*​  1,651,916,668​  0.2395​  5.41%​  0.2730​  * 6.16%​ *  18.50​  3.40​  30.29%​  CMW  *	1.150	*​  1,995,594,750​  0.1062​  9.23%​  0.0789​  * 6.86%​ *  10.83​  0.73​  57.53%​  DXS  *	8.060	*​  7,298,586,284​  0.4956​  6.15%​  0.3756​  * 4.66%​ *  16.26​  6.36​  26.73%​  FDC  *	2.990	*​  4,268,648,279​  0.3091​  10.34%​  0.1570​  * 5.25%​ *  9.67​  2.37​  26.16%​  GMG  *	6.510	*​  11,362,944,997​  0.3820​  5.87%​  0.2070​  * 3.18%​ *  17.04​  2.88​  126.04%​  GPT  *	4.790	*​  8,073,357,974​  0.3045​  6.36%​  0.2080​  * 4.34%​ *  15.73​  3.82​  25.39%​  IOF  *	4.140	*​  2,542,156,476​  0.2990​  7.22%​  0.1850​  * 4.47%​ *  13.85​  3.35​  23.58%​  MGR  *	2.080	*​  7,690,170,530​  0.1219​  5.86%​  0.0900​  * 4.33%​ *  17.06​  1.66​  25.30%​  NVN  *	2.490	*​  7,595,385,760​  0.1361​  5.47%​  0.1360​  * 5.46%​ *  18.30​  1.90​  31.05%​  SCP  *	2.080	*​  1,349,146,906​  0.1220​  5.87%​  0.1080​  * 5.19%​ *  17.05​  1.57​  32.48%​  SCG  *	3.950	*​  21,030,971,878​  0.2150​  5.44%​  0.2150​  * 5.44%​ *  18.37​  2.88​  37.15%​  SGP  *	4.580	*​  10,757,260,088​  0.2280​  4.98%​  0.2400​  * 5.24%​ *  20.09​  3.53​  29.75%​  WFD  *	10.100	*​  20,988,705,829​  0.4380​  4.34%​  0.4380​  * 4.34%​ *  23.06​  3.80​  165.79%​ 



*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		30-Jan-15				06-Feb-15		  	Abacus Property	 ABP  3.050​  3.280​  0.23​  7.54%​ 	BWP Trust	 BWP  2.850​  3.000​  0.15​  5.26%​ 	Charter Hall	 CHC  4.840​  4.860​  0.02​  0.41%​ 	Charter Hall Retail	 CQR  4.390​  4.430​  0.04​  0.91%​ 	Cromwell	 CMW  1.060​  1.150​  0.09​  8.49%​ 	Dexus	 DXS  7.710​  8.060​  0.35​  4.54%​ 	Federation Centres	 FDC  3.030​  2.990​  -0.04​  -1.32%​ 	Goodman Group	 GMG  6.130​  6.510​  0.38​  6.20%​ 	GPT Group	 GPT  4.520​  4.790​  0.27​  5.97%​ 	Investa Office	 IOF  3.860​  4.140​  0.28​  7.25%​ 	Mirvac Group	 MGR  1.930​  2.080​  0.15​  7.77%​ 	Novion Property Group	 NVN  2.320​  2.490​  0.17​  7.33%​ 	SCA Property Group	 SCP  1.930​  2.080​  0.15​  7.77%​ 	Scentre Group	 SCG  3.800​  3.950​  0.15​  3.95%​ 	Stockland Property	 SGP  4.380​  4.580​  0.20​  4.57%​ 	Westfield Corporation	 WFD  9.860​  10.100​  0.24​  2.43%​ 




*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector. 

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 21 November 2014, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 21 November 2014. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The table figures for SCG and WFD are based on the proposal issued 4 December 2013. The issued shares are correct but the Earnings and Distributions are based on the December proposal 2014 forecast earnings. These figures will be adjusted as and when Scentre/Westfields release their respective figures. SCG has advised on 6 November 2014 "Scentre Group reconfirms its forecast FFO of 10.88 cents per security with a distribution forecast of 10.2 cents per security for the six months ending 31 December 2014".

*5.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*6.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## shady (12 February 2015)

nulla nulla said:


> ..... In some ways the present euphoria reminds me of 2007, however this time the gearing levels are below 35% and dividends are being paid out of earnings not borrowings. Where to now?




And just as importantly the cap rates being applied for valuations are quite reasonable compared to pre GFC.
A 35% LVR on a cap rate of 5% is vastly different then a 35% LVR at an 8% cap rate.

Office vacancy rates are on the way down in capital cities as is vacancy in most shopping centres. Industrial is lagging in many areas but residential development is up .....All good for REIT's


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## nulla nulla (15 February 2015)

*A-REIT Sector:  Weekending Friday 13 February 2015 *

Some A-REIT share prices further up and some drifting down a little. The half year results are starting to trickle out so I expect to be able to update the earnings data over the next week or so. At present the average of the price/earnings ratio's across the sector is 16.46. Some of the shares are higher than this, possibly a reflection of their size in the sector and market confidence in their growth prospects. Some of the shares have relatively low P/E ratios even though they have good earnings/yields, possibly reflecting a market perception of limited growth/take-over prospects. 

The global cheap money flooding into the sector seems to have settled down for now. However I expect the market to be volatile for a while as it adjusts the share prices to the new levels. Trade opportunities for those with an appetite for risk?




The *A-REIT Table* for closing prices for Weekending * 13 February 2015 * follows:


	Code	 *	Closing Price	* 		Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Premium to NTA		           ABP  *	3.300	*​  1,697,675,542​  0.2227​  6.75%​  0.1675​  * 5.08%​ *  14.82​  2.38​  38.66%​  BWP  *	3.010	*​  1,925,571,726​  0.2434​  8.09%​  0.1471​  * 4.89%​ *  12.37​  2.07​  45.41%​  CHC  *	4.920	*​  1,746,853,577​  0.2561​  5.21%​  0.2230​  * 4.53%​ *  19.21​  2.38​  106.72%​  CQR  *	4.300	*​  1,603,440,558​  0.2395​  5.57%​  0.2730​  * 6.35%​ *  17.95​  3.40​  26.47%​  CMW  *	1.185	*​  2,056,330,243​  0.1062​  8.96%​  0.0789​  * 6.66%​ *  11.16​  0.73​  62.33%​  DXS  *	8.190	*​  7,416,305,417​  0.4956​  6.05%​  0.3756​  * 4.59%​ *  16.53​  6.36​  28.77%​  FDC  *	2.940	*​  4,197,266,201​  0.3091​  10.51%​  0.1570​  * 5.34%​ *  9.51​  2.37​  24.05%​  GMG  *	6.470	*​  11,293,126,595​  0.3820​  5.90%​  0.2070​  * 3.20%​ *  16.94​  2.88​  124.65%​  GPT  *	4.790	*​  8,073,357,974​  0.3045​  6.36%​  0.2080​  * 4.34%​ *  15.73​  3.82​  25.39%​  IOF  *	4.330	*​  2,658,825,493​  0.2990​  6.91%​  0.1850​  * 4.27%​ *  14.48​  3.35​  29.25%​  MGR  *	2.160	*​  7,985,946,319​  0.1219​  5.64%​  0.0900​  * 4.17%​ *  17.72​  1.66​  30.12%​  NVN  *	2.460	*​  7,503,875,088​  0.1361​  5.53%​  0.1360​  * 5.53%​ *  18.07​  1.90​  29.47%​  SCP  *	2.100	*​  1,362,119,472​  0.1220​  5.81%​  0.1080​  * 5.14%​ *  17.21​  1.57​  33.76%​  SCG  *	3.860	*​  20,551,785,177​  0.2150​  5.57%​  0.2150​  * 5.57%​ *  17.95​  2.88​  34.03%​  SGP  *	4.790	*​  11,250,496,904​  0.2280​  4.76%​  0.2400​  * 5.01%​ *  21.01​  3.53​  35.69%​  WFD  *	9.970	*​  20,718,554,169​  0.4380​  4.39%​  0.4380​  * 4.39%​ *  22.76​  3.80​  162.37%​ 



*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		06-Feb-15				13-Feb-15		  	Abacus Property	 ABP  3.280​  3.300​  0.02​  0.61%​ 	BWP Trust	 BWP  3.000​  3.010​  0.01​  0.33%​ 	Charter Hall	 CHC  4.860​  4.920​  0.06​  1.23%​ 	Charter Hall Retail	 CQR  4.430​  4.300​  -0.13​  -2.93%​ 	Cromwell	 CMW  1.150​  1.185​  0.04​  3.04%​ 	Dexus	 DXS  8.060​  8.190​  0.13​  1.61%​ 	Federation Centres	 FDC  2.990​  2.940​  -0.05​  -1.67%​ 	Goodman Group	 GMG  6.510​  6.470​  -0.04​  -0.61%​ 	GPT Group	 GPT  4.790​  4.790​  0.00​  0.00%​ 	Investa Office	 IOF  4.140​  4.330​  0.19​  *	4.59%	*​ 	Mirvac Group	 MGR  2.080​  2.160​  0.08​  3.85%​ 	Novion Property Group	 NVN  2.490​  2.460​  -0.03​  -1.20%​ 	SCA Property Group	 SCP  2.080​  2.100​  0.02​  0.96%​ 	Scentre Group	 SCG  3.950​  3.860​  -0.09​  -2.28%​ 	Stockland Property	 SGP  4.580​  4.790​  0.21​  *	4.59%	*​ 	Westfield Corporation	 WFD  10.100​  9.970​  -0.13​  -1.29%​ 




*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector. 

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 21 November 2014, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 21 November 2014. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The table figures for SCG and WFD are based on the proposal issued 4 December 2013. The issued shares are correct but the Earnings and Distributions are based on the December proposal 2014 forecast earnings. These figures will be adjusted as and when Scentre/Westfields release their respective figures. SCG has advised on 6 November 2014 "Scentre Group reconfirms its forecast FFO of 10.88 cents per security with a distribution forecast of 10.2 cents per security for the six months ending 31 December 2014".

*5.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*6.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (21 February 2015)

*A-REIT Sector:  Weekending Friday 20 February 2015 *

The All-Ords managed to hold above 5800 for the Friday close following the lead from the US with the Dow Jones above 18,000 and the Nasdaq creeping closer and closer to 5,000. However the A-REIT Sector took a contrarian approach and dropped roughly 2.8% for the week. The drop would have been more if not for the stability of Westfields as the likes of Abacus, Bunnings Property trust, Charter Hall, Dexus, Investa Office and SCA Property were sold down more than 5%.  

There was probably a bit of profit taking on the back of the share price rise from the global cheap money that flooded into the sector in the previous weeks, bought on by jitters over the resurface of the Greek Euro Membership issue. The news from Europe is that Greece will be given another 4 months to address their problems which was warmly accepted by global markets overnight. It will be interesting to see where our markets go on Monday.  Were the price falls on Thursday/Friday this week an entry opportunity or is it time to sit on our hands?




The *A-REIT Table* for closing prices for Weekending * 20 February 2015 * follows:


	Code	 *	Closing Price	* 		Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Premium to NTA		           ABP  *	3.050	*​  1,569,063,759​  0.2227​  7.30%​  0.1675​  * 5.49%​ *  13.70​  2.38​  28.15%​  BWP  *	2.850	*​  1,823,215,754​  0.2434​  8.54%​  0.1471​  * 5.16%​ *  11.71​  2.07​  37.68%​  CHC  *	4.670	*​  1,658,090,692​  0.2561​  5.48%​  0.2230​  * 4.78%​ *  18.24​  2.38​  96.22%​  CQR  *	4.270	*​  1,592,253,763​  0.2395​  5.61%​  0.2730​  * 6.39%​ *  17.83​  3.40​  25.59%​  CMW  *	1.145	*​  1,986,918,252​  0.1062​  9.28%​  0.0789​  * 6.89%​ *  10.78​  0.73​  56.85%​  DXS  *	7.690	*​  6,963,539,519​  0.4956​  6.44%​  0.3756​  * 4.88%​ *  15.52​  6.36​  20.91%​  FDC  *	2.940	*​  4,197,266,201​  0.3091​  10.51%​  0.1570​  * 5.34%​ *  9.51​  2.37​  24.05%​  GMG  *	6.180	*​  10,786,943,177​  0.3820​  6.18%​  0.2070​  * 3.35%​ *  16.18​  2.88​  114.58%​  GPT  *	4.660	*​  7,854,248,050​  0.3045​  6.53%​  0.2080​  * 4.46%​ *  15.30​  3.82​  21.99%​  IOF  *	4.030	*​  2,474,611,256​  0.2990​  7.42%​  0.1850​  * 4.59%​ *  13.48​  3.35​  20.30%​  MGR  *	2.060	*​  7,616,226,582​  0.1219​  5.92%​  0.0900​  * 4.37%​ *  16.90​  1.66​  24.10%​  NVN  *	2.450	*​  7,473,371,531​  0.1361​  5.56%​  0.1360​  * 5.55%​ *  18.00​  1.90​  28.95%​  SCP  *	1.980	*​  1,284,284,074​  0.1220​  6.16%​  0.1080​  * 5.45%​ *  16.23​  1.57​  26.11%​  SCG  *	3.740	*​  19,912,869,576​  0.2150​  5.75%​  0.2150​  * 5.75%​ *  17.40​  2.88​  29.86%​  SGP  *	4.670	*​  10,968,647,294​  0.2280​  4.88%​  0.2400​  * 5.14%​ *  20.48​  3.53​  32.29%​  WFD  *	10.000	*​  20,780,896,860​  0.4380​  4.38%​  0.4380​  * 4.38%​ *  22.83​  3.80​  163.16%​ 



*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		13-Feb-15				20-Feb-15		  	Abacus Property	 ABP  3.300​  3.050​  -0.25​  *	-7.58%	*​ 	BWP Trust	 BWP  3.010​  2.850​  -0.16​  -5.32%​ 	Charter Hall	 CHC  4.920​  4.670​  -0.25​  -5.08%​ 	Charter Hall Retail	 CQR  4.300​  4.270​  -0.03​  -0.70%​ 	Cromwell	 CMW  1.185​  1.145​  -0.04​  -3.38%​ 	Dexus	 DXS  8.190​  7.690​  -0.50​  -6.11%​ 	Federation Centres	 FDC  2.940​  2.940​  0.00​  0.00%​ 	Goodman Group	 GMG  6.470​  6.180​  -0.29​  -4.48%​ 	GPT Group	 GPT  4.790​  4.660​  -0.13​  -2.71%​ 	Investa Office	 IOF  4.330​  4.030​  -0.30​  -6.93%​ 	Mirvac Group	 MGR  2.160​  2.060​  -0.10​  -4.63%​ 	Novion Property Group	 NVN  2.460​  2.450​  -0.01​  -0.41%​ 	SCA Property Group	 SCP  2.100​  1.980​  -0.12​  -5.71%​ 	Scentre Group	 SCG  3.860​  3.740​  -0.12​  -3.11%​ 	Stockland Property	 SGP  4.790​  4.670​  -0.12​  -2.51%​ 	Westfield Corporation	 WFD  9.970​  10.000​  0.03​  0.30%​ 




*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector. 

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 21 November 2014, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 21 November 2014. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The table figures for SCG and WFD are based on the proposal issued 4 December 2013. The issued shares are correct but the Earnings and Distributions are based on the December proposal 2014 forecast earnings. These figures will be adjusted as and when Scentre/Westfields release their respective figures. SCG has advised on 6 November 2014 "Scentre Group reconfirms its forecast FFO of 10.88 cents per security with a distribution forecast of 10.2 cents per security for the six months ending 31 December 2014".

*5.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*6.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (1 March 2015)

*A-REIT Sector:  Weekending Friday 27 February 2015 *

The All-Ords squeaked above 5900 for the Friday close still following the lead from the Global Markets. Confidence and money every where however the week to week closing figures hide some individual share price swings as money moves in and out of the A-REIT sector.  

Some of the price falls on Thursday/Friday last week turned out to be good entry points for quick trades. Some of them even providing a secondary opportunity mid week with good lifts on Friday for profit takers.





The *A-REIT Table* for closing prices for Weekending * 27 February 2015 * follows:


	Code	 *	Closing Price	* 		Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Premium to NTA		           ABP  *	3.070	*​  1,579,352,701​  0.2227​  7.25%​  0.1675​  * 5.46%​ *  13.79​  2.38​  28.99%​  BWP  *	2.980	*​  1,906,379,981​  0.2434​  8.17%​  0.1471​  * 4.94%​ *  12.24​  2.07​  43.96%​  CHC  *	5.000	*​  1,775,257,700​  0.2561​  5.12%​  0.2230​  * 4.46%​ *  19.52​  2.38​  110.08%​  CQR  *	4.560	*​  1,700,392,778​  0.2395​  5.25%​  0.2730​  * 5.99%​ *  19.04​  3.40​  34.12%​  CMW  *	1.170	*​  2,030,300,746​  0.1062​  9.08%​  0.0789​  * 6.74%​ *  11.02​  0.73​  60.27%​  DXS  *	7.900	*​  7,153,701,196​  0.4956​  6.27%​  0.3756​  * 4.75%​ *  15.94​  6.36​  24.21%​  FDC  *	2.980	*​  4,254,371,864​  0.3091​  10.37%​  0.1570​  * 5.27%​ *  9.64​  2.37​  25.74%​  GMG  *	6.240	*​  10,891,670,781​  0.3820​  6.12%​  0.2070​  * 3.32%​ *  16.34​  2.88​  116.67%​  GPT  *	4.700	*​  7,921,666,489​  0.3045​  6.48%​  0.2080​  * 4.43%​ *  15.44​  3.82​  23.04%​  IOF  *	4.020	*​  2,468,470,781​  0.2990​  7.44%​  0.1850​  * 4.60%​ *  13.44​  3.35​  20.00%​  MGR  *	2.080	*​  7,690,170,530​  0.1219​  5.86%​  0.0900​  * 4.33%​ *  17.06​  1.66​  25.30%​  NVN  *	2.460	*​  7,503,875,088​  0.1361​  5.53%​  0.1360​  * 5.53%​ *  18.07​  1.90​  29.47%​  SCP  *	2.020	*​  1,310,229,206​  0.1220​  6.04%​  0.1080​  * 5.35%​ *  16.56​  1.57​  28.66%​  SCG  *	3.860	*​  20,551,785,177​  0.2150​  5.57%​  0.2150​  * 5.57%​ *  17.95​  2.88​  34.03%​  SGP  *	4.690	*​  11,015,622,229​  0.2280​  4.86%​  0.2400​  * 5.12%​ *  20.57​  3.53​  32.86%​  WFD  *	9.810	*​  20,386,059,820​  0.4380​  4.46%​  0.4380​  * 4.46%​ *  22.40​  3.80​  158.16%​ 

*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		20-Feb-15				27-Feb-15		  	Abacus Property	 ABP  3.050​  3.070​  0.02​  0.66%​ 	BWP Trust	 BWP  2.850​  2.980​  0.13​  4.56%​ 	Charter Hall	 CHC  4.670​  5.000​  0.33​  7.07%​ 	Charter Hall Retail	 CQR  4.270​  4.560​  0.29​  6.79%​ 	Cromwell	 CMW  1.145​  1.170​  0.02​  2.18%​ 	Dexus	 DXS  7.690​  7.900​  0.21​  2.73%​ 	Federation Centres	 FDC  2.940​  2.980​  0.04​  1.36%​ 	Goodman Group	 GMG  6.180​  6.240​  0.06​  0.97%​ 	GPT Group	 GPT  4.660​  4.700​  0.04​  0.86%​ 	Investa Office	 IOF  4.030​  4.020​  -0.01​  -0.25%​ 	Mirvac Group	 MGR  2.060​  2.080​  0.02​  0.97%​ 	Novion Property Group	 NVN  2.450​  2.460​  0.01​  0.41%​ 	SCA Property Group	 SCP  1.980​  2.020​  0.04​  2.02%​ 	Scentre Group	 SCG  3.740​  3.860​  0.12​  3.21%​ 	Stockland Property	 SGP  4.670​  4.690​  0.02​  0.43%​ 	Westfield Corporation	 WFD  10.000​  9.810​  -0.19​  -1.90%​ 




*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector. 

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 21 November 2014, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 21 November 2014. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The table figures for SCG and WFD are based on the proposal issued 4 December 2013. The issued shares are correct but the Earnings and Distributions are based on the December proposal 2014 forecast earnings. These figures will be adjusted as and when Scentre/Westfields release their respective figures. SCG has advised on 6 November 2014 "Scentre Group reconfirms its forecast FFO of 10.88 cents per security with a distribution forecast of 10.2 cents per security for the six months ending 31 December 2014".

*5.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*6.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (8 March 2015)

*A-REIT Sector:  Weekending Friday 06 March 2015 *

The A-REIT Sector lifted strongly on Monday and Tuesday on the expectation of an interest rate cut. However, after 2:30pm, the news that there would be no change in the official interest rate saw a subsequent easing in share prices that continued through to Thursday close. Fortunately there was a small recovery on Friday which saw the A-REIT Sector finish the week slightly higher.

Once again the midweek volatility provided plenty of trade opportunities for the brave. 





The *A-REIT Table* for closing prices for Weekending * 06 March  2015 * follows:


	Code	 *	Closing Price	* 		Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Premium to NTA		           ABP  *	3.090	*​  1,589,641,644​  0.2227​  7.21%​  0.1675​  * 5.42%​ *  13.88​  2.38​  29.83%​  BWP  *	3.030	*​  1,938,366,223​  0.2434​  8.03%​  0.1471​  * 4.85%​ *  12.45​  2.07​  46.38%​  CHC  *	5.000	*​  1,775,257,700​  0.2561​  5.12%​  0.2230​  * 4.46%​ *  19.52​  2.38​  110.08%​  CQR  *	4.520	*​  1,685,477,052​  0.2395​  5.30%​  0.2730​  * 6.04%​ *  18.87​  3.40​  32.94%​  CMW  *	1.155	*​  2,004,271,249​  0.1062​  9.19%​  0.0789​  * 6.83%​ *  10.88​  0.73​  58.22%​  DXS  *	8.000	*​  7,244,254,376​  0.4956​  6.20%​  0.3756​  * 4.70%​ *  16.14​  6.36​  25.79%​  FDC  *	3.020	*​  4,311,477,526​  0.3091​  10.24%​  0.1570​  * 5.20%​ *  9.77​  2.37​  27.43%​  GMG  *	6.410	*​  11,188,398,991​  0.3820​  5.96%​  0.2070​  * 3.23%​ *  16.78​  2.88​  122.57%​  GPT  *	4.800	*​  8,090,212,584​  0.3045​  6.34%​  0.2080​  * 4.33%​ *  15.76​  3.82​  25.65%​  IOF  *	4.100	*​  2,517,594,578​  0.2990​  7.29%​  0.1850​  * 4.51%​ *  13.71​  3.35​  22.39%​  MGR  *	2.070	*​  7,653,198,556​  0.1219​  5.89%​  0.0900​  * 4.35%​ *  16.98​  1.66​  24.70%​  NVN  *	2.580	*​  7,869,917,776​  0.1361​  5.28%​  0.1360​  * 5.27%​ *  18.96​  1.90​  35.79%​  SCP  *	1.995	*​  1,294,013,498​  0.1220​  6.12%​  0.1080​  * 5.41%​ *  16.35​  1.57​  27.07%​  SCG  *	3.930	*​  20,924,485,945​  0.2150​  5.47%​  0.2150​  * 5.47%​ *  18.28​  2.88​  36.46%​  SGP  *	4.710	*​  11,062,597,164​  0.2280​  4.84%​  0.2400​  * 5.10%​ *  20.66​  3.53​  33.43%​  WFD  *	9.840	*​  20,448,402,510​  0.4380​  4.45%​  0.4380​  * 4.45%​ *  22.47​  3.80​  158.95%​ 



*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		27-Feb-15				06-Mar-15		  	Abacus Property	 ABP  3.070​  3.090​  0.02​  0.65%​ 	BWP Trust	 BWP  2.980​  3.030​  0.05​  1.68%​ 	Charter Hall	 CHC  5.000​  5.000​  0.00​  0.00%​ 	Charter Hall Retail	 CQR  4.560​  4.520​  -0.04​  -0.88%​ 	Cromwell	 CMW  1.170​  1.155​  -0.01​  -1.28%​ 	Dexus	 DXS  7.900​  8.000​  0.10​  1.27%​ 	Federation Centres	 FDC  2.980​  3.020​  0.04​  1.34%​ 	Goodman Group	 GMG  6.240​  6.410​  0.17​  2.72%​ 	GPT Group	 GPT  4.700​  4.800​  0.10​  2.13%​ 	Investa Office	 IOF  4.020​  4.100​  0.08​  1.99%​ 	Mirvac Group	 MGR  2.080​  2.070​  -0.01​  -0.48%​ 	Novion Property Group	 NVN  2.460​  2.580​  0.12​  4.88%​ 	SCA Property Group	 SCP  2.020​  1.995​  -0.02​  -1.24%​ 	Scentre Group	 SCG  3.860​  3.930​  0.07​  1.81%​ 	Stockland Property	 SGP  4.690​  4.710​  0.02​  0.43%​ 	Westfield Corporation	 WFD  9.810​  9.840​  0.03​  0.31%​ 




*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector. 

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 21 November 2014, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 21 November 2014. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The table figures for SCG and WFD are based on the proposal issued 4 December 2013. The issued shares are correct but the Earnings and Distributions are based on the December proposal 2014 forecast earnings. These figures will be adjusted as and when Scentre/Westfields release their respective figures. SCG has advised on 6 November 2014 "Scentre Group reconfirms its forecast FFO of 10.88 cents per security with a distribution forecast of 10.2 cents per security for the six months ending 31 December 2014".

*5.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*6.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## Logique (15 March 2015)

Noticed in the SMH. Author optimistic on REITs.  My bolds under.



> *Real estate investment trusts offer high returns for investors* - 13 March 2015
> 
> By David Potts, SMH: http://www.smh.com.au/money/investi...gh-returns-for-investors-20150313-142zij.html
> 
> ...


----------



## nulla nulla (15 March 2015)

*A-REIT Sector:  Weekending Friday 13 March 2015 *

The A-REIT Sector fall on Monday (along with the All Ords) appeared excessive in comparison to the fall of the All Ords, so the subsequent recovery on Tuesday through Thursday was not entirely unexpected. However Friday saw some uncertainty work its' way into global markets. There seemed to be confusion as to whether the drop in US unemployment figures was a good thing versus the drop in the participation rate of the unemployed as a bad thing. This combined with falling Oil prices, falling commodity prices and China revising their expected growth rate down to 6.8% set a negative mood for Fridays trading.


I expect that next week will probably be just as volatile, likely with a downward trend for the week. 




The *A-REIT Table* for closing prices for Weekending * 13 March  2015 * follows:


	Code	 *	Closing Price	* 		Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Premium to NTA		           ABP  *	2.970	*​  1,529,629,548​  0.2424​  8.16%​  0.1700​  * 5.72%​ *  12.25​  2.42​  22.73%​  BWP  *	3.050	*​  1,959,270,599​  0.3155​  10.34%​  0.1555​  * 5.10%​ *  9.67​  2.18​  39.91%​  CHC  *	5.130	*​  1,843,424,624​  0.2762​  5.38%​  0.2340​  * 4.56%​ *  18.57​  2.38​  115.55%​  CQR  *	4.450	*​  1,671,216,964​  0.4066​  9.14%​  0.2735​  * 6.15%​ *  10.94​  3.52​  26.42%​  CMW  *	1.135	*​  1,972,321,409​  0.1052​  9.27%​  0.7750​  * 68.28%​ *  10.79​  0.74​  53.38%​  DXS  *	7.680	*​  6,954,484,201​  0.4227​  5.50%​  0.3882​  * 5.05%​ *  18.17​  6.47​  18.70%​  FDC  *	3.060	*​  4,368,583,189​  0.3063​  10.01%​  0.1660​  * 5.42%​ *  9.99​  2.44​  25.41%​  GMG  *	6.140	*​  10,763,640,561​  0.5836​  9.50%​  0.2145​  * 3.49%​ *  10.52​  3.15​  94.92%​  GPT  *	4.700	*​  8,348,531,106​  0.3827​  8.14%​  0.2120​  * 4.51%​ *  12.28​  3.94​  19.29%​  IOF  *	4.050	*​  2,486,892,205​  0.3698​  9.13%​  0.1880​  * 4.64%​ *  10.95​  3.42​  18.42%​  MGR  *	2.000	*​  7,394,394,740​  0.1305​  6.53%​  0.0910​  * 4.55%​ *  15.33​  1.69​  18.34%​  NVN  *	2.630	*​  8,093,072,973​  0.2060​  7.83%​  0.1370​  * 5.21%​ *  12.77​  1.97​  33.50%​  SCP  *	2.010	*​  1,308,187,560​  0.2570​  12.79%​  0.1120​  * 5.57%​ *  7.82​  1.73​  16.18%​  SCG  *	3.910	*​  20,818,000,011​  0.2150​  5.50%​  0.2150​  * 5.50%​ *  18.19​  3.04​  28.62%​  SGP  *	4.470	*​  10,556,878,843​  0.2966​  6.64%​  0.2400​  * 5.37%​ *  15.07​  3.53​  26.63%​  WFD  *	9.770	*​  20,302,936,232​  0.4380​  4.48%​  0.1585​  * 1.62%​ *  22.31​  4.54​  115.20%​ 



*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		06-Mar-15				13-Mar-15		  	Abacus Property	 ABP  3.090​  2.970​  -0.12​  -3.88%​ 	BWP Trust	 BWP  3.030​  3.050​  0.02​  0.66%​ 	Charter Hall	 CHC  5.000​  5.130​  0.13​  2.60%​ 	Charter Hall Retail	 CQR  4.520​  4.450​  -0.07​  -1.55%​ 	Cromwell	 CMW  1.155​  1.135​  -0.02​  -1.73%​ 	Dexus	 DXS  8.000​  7.680​  -0.32​  -4.00%​ 	Federation Centres	 FDC  3.020​  3.060​  0.04​  1.32%​ 	Goodman Group	 GMG  6.410​  6.140​  -0.27​  -4.21%​ 	GPT Group	 GPT  4.800​  4.700​  -0.10​  -2.08%​ 	Investa Office	 IOF  4.100​  4.050​  -0.05​  -1.22%​ 	Mirvac Group	 MGR  2.070​  2.000​  -0.07​  -3.38%​ 	Novion Property Group	 NVN  2.580​  2.630​  0.05​  1.94%​ 	SCA Property Group	 SCP  1.995​  2.010​  0.01​  0.75%​ 	Scentre Group	 SCG  3.930​  3.910​  -0.02​  -0.51%​ 	Stockland Property	 SGP  4.710​  4.470​  -0.24​  *	-5.10%	*​ 	Westfield Corporation	 WFD  9.840​  9.770​  -0.07​  -0.71%​ 




*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector. 

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 13 March 2015, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 13 March 2015. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The table figures for SCG and WFD are based on the proposal issued 4 December 2013. The issued shares are correct but the Earnings and Distributions are based on the December proposal 2014 forecast earnings. These figures will be adjusted as and when Scentre/Westfields release their respective figures. 

*5.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*6.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (21 March 2015)

*A-REIT Sector:  Weekending Friday 20 March 2015 *

This week the A-REIT sector started off with a double whammy, the RBA meeting minutes were released and there was a small paragraph to the effect that Glen Stevens felt that commercial/office properties were becoming overvalued. This combined with the release of reports in the media that analysts were predicting a 13% vacancy rate in A grade office buildings in 2015-2016, particularly in Sydney, saw the share prices of A-REIT's drop like a brick on Monday, Tuesday and Wednesday. Gloom and Doom.

However on Thursday and Friday the A-REIT Sector not only recovered the drop but lifted to finish the week 2% higher than the previous Fridays close. The surge in prices in the closing stages of Friday trading was impressive. Last week I predicted volatility with a likely down ward trend. This week I'll keep my predictions to myself, other than to say it will probably continue to be volatile. 

There appears to be a pattern emerging for the A-REIT sector over the past 2-3 months, with support at the 1280 level and resistance at the 1345 level. I don't know how reliable it is, I did get a bit nervous when the market tested 1268 on Wednesday. 




The *A-REIT Table* for closing prices for Weekending * 20 March  2015 * follows:


	Code	 *	Closing Price	* 		Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Premium to NTA		           ABP  *	2.870	*​  1,478,126,870​  0.2424​  8.45%​  0.1700​  * 5.92%​ *  11.84​  2.42​  18.60%​  BWP  *	3.010	*​  1,933,575,247​  0.3155​  10.48%​  0.1555​  * 5.17%​ *  9.54​  2.18​  38.07%​  CHC  *	5.240	*​  1,882,952,248​  0.2762​  5.27%​  0.2340​  * 4.47%​ *  18.97​  2.38​  120.17%​  CQR  *	4.410	*​  1,656,194,789​  0.4066​  9.22%​  0.2735​  * 6.20%​ *  10.85​  3.52​  25.28%​  CMW  *	1.160	*​  2,015,764,612​  0.1052​  9.07%​  0.7750​  * 66.81%​ *  11.03​  0.74​  56.76%​  DXS  *	7.730	*​  6,999,760,791​  0.4227​  5.47%​  0.3882​  * 5.02%​ *  18.29​  6.47​  19.47%​  FDC  *	3.100	*​  4,425,688,852​  0.3063​  9.88%​  0.1660​  * 5.35%​ *  10.12​  2.44​  27.05%​  GMG  *	6.200	*​  10,868,822,716​  0.5836​  9.41%​  0.2145​  * 3.46%​ *  10.62​  3.15​  96.83%​  GPT  *	4.700	*​  8,348,531,106​  0.3827​  8.14%​  0.2120​  * 4.51%​ *  12.28​  3.94​  19.29%​  IOF  *	4.070	*​  2,499,173,154​  0.3698​  9.09%​  0.1880​  * 4.62%​ *  11.01​  3.42​  19.01%​  MGR  *	2.040	*​  7,542,282,635​  0.1305​  6.40%​  0.0910​  * 4.46%​ *  15.63​  1.69​  20.71%​  NVN  *	2.700	*​  8,308,477,957​  0.2060​  7.63%​  0.1370​  * 5.07%​ *  13.11​  1.97​  37.06%​  SCP  *	2.020	*​  1,314,695,956​  0.2570​  12.72%​  0.1120​  * 5.54%​ *  7.86​  1.73​  16.76%​  SCG  *	3.930	*​  20,924,485,945​  0.2150​  5.47%​  0.2150​  * 5.47%​ *  18.28​  3.04​  29.28%​  SGP  *	4.650	*​  10,981,988,058​  0.2966​  6.38%​  0.2400​  * 5.16%​ *  15.68​  3.53​  31.73%​  WFD  *	10.350	*​  21,508,228,250​  0.4380​  4.23%​  0.1585​  * 1.53%​ *  23.63​  4.54​  127.97%​ 



*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		13-Mar-15				20-Mar-15		  	Abacus Property	 ABP  2.970​  2.870​  -0.10​  -3.37%​ 	BWP Trust	 BWP  3.050​  3.010​  -0.04​  -1.31%​ 	Charter Hall	 CHC  5.130​  5.240​  0.11​  2.14%​ 	Charter Hall Retail	 CQR  4.450​  4.410​  -0.04​  -0.90%​ 	Cromwell	 CMW  1.135​  1.160​  0.02​  2.20%​ 	Dexus	 DXS  7.680​  7.730​  0.05​  0.65%​ 	Federation Centres	 FDC  3.060​  3.100​  0.04​  1.31%​ 	Goodman Group	 GMG  6.140​  6.200​  0.06​  0.98%​ 	GPT Group	 GPT  4.700​  4.700​  0.00​  0.00%​ 	Investa Office	 IOF  4.050​  4.070​  0.02​  0.49%​ 	Mirvac Group	 MGR  2.000​  2.040​  0.04​  2.00%​ 	Novion Property Group	 NVN  2.630​  2.700​  0.07​  2.66%​ 	SCA Property Group	 SCP  2.010​  2.020​  0.01​  0.50%​ 	Scentre Group	 SCG  3.910​  3.930​  0.02​  0.51%​ 	Stockland Property	 SGP  4.470​  4.650​  0.18​  4.03%​ 	Westfield Corporation	 WFD  9.770​  10.350​  0.58​  *	5.94%	*​ 




*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector. 

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 13 March 2015, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 13 March 2015. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The table figures for SCG and WFD are based on the proposal issued 4 December 2013. The issued shares are correct but the Earnings and Distributions are based on the December proposal 2014 forecast earnings. These figures will be adjusted as and when Scentre/Westfields release their respective figures. 

*5.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*6.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (29 March 2015)

*A-REIT Sector:  Weekending Friday 27 March 2015 *

On Wednesday night while Australian equities investors were sound asleep, tucked up snuggly in their beds, U.S and European Investors were staging a mass sell down as "cracks" were seen to be appearing in the purported health of the U.S recovery. The Bears were rumbling that the company reports were not as good as expected and the pervading mood was "sell". On Thursday the Australian All-Ords was swept along with the negativity of global markets. The All-Ords dipped 73 points soon after open, recovered 30 odd points and then fell to end the day 80 points down. The A-REIT sector was smacked even harder, finishing the day down nearly 2%.  

Was this a buy opportunity or the start of something bigger like a correction? The A-REIT sector staged a mild recovery on Friday morning but by 1:00pm it ran out of confidence and gave back some of the earlier recovery.  

There are take-over rumours circulating that Investa Office is on the market. The big players, Dexus, GPT, and Stockland  are allegedly suitors circling IOF. Mirvac also is reported to have hired consultants to  help it defend itself in the event it is targeted for take over. No doubt this speculation will add to the share price volatility. Next week will be interesting.






The *A-REIT Table* for closing prices for Weekending * 27 March  2015 * follows:


	Code	 *	Closing Price	* 		Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Premium to NTA		           ABP  *	2.890	*​  1,488,427,406​  0.2424​  8.39%​  0.1700​  * 5.88%​ *  11.92​  2.42​  19.42%​  BWP  *	3.010	*​  1,933,575,247​  0.3155​  10.48%​  0.1555​  * 5.17%​ *  9.54​  2.18​  38.07%​  CHC  *	5.280	*​  1,897,325,929​  0.2762​  5.23%​  0.2340​  * 4.43%​ *  19.12​  2.38​  121.85%​  CQR  *	4.310	*​  1,618,639,352​  0.4066​  9.43%​  0.2735​  * 6.35%​ *  10.60​  3.52​  22.44%​  CMW  *	1.135	*​  1,972,321,409​  0.1052​  9.27%​  0.7750​  * 68.28%​ *  10.79​  0.74​  53.38%​  DXS  *	7.710	*​  6,981,650,155​  0.4227​  5.48%​  0.3882​  * 5.04%​ *  18.24​  6.47​  19.17%​  FDC  *	3.070	*​  4,382,859,605​  0.3063​  9.98%​  0.1660​  * 5.41%​ *  10.02​  2.44​  25.82%​  GMG  *	6.260	*​  10,974,004,872​  0.5836​  9.32%​  0.2145​  * 3.43%​ *  10.73​  3.15​  98.73%​  GPT  *	4.600	*​  8,170,902,784​  0.3827​  8.32%​  0.2120​  * 4.61%​ *  12.02​  3.94​  16.75%​  IOF  *	4.010	*​  2,462,330,307​  0.3698​  9.22%​  0.1880​  * 4.69%​ *  10.84​  3.42​  17.25%​  MGR  *	2.030	*​  7,505,310,661​  0.1305​  6.43%​  0.0910​  * 4.48%​ *  15.56​  1.69​  20.12%​  NVN  *	2.580	*​  7,939,212,270​  0.2060​  7.98%​  0.1370​  * 5.31%​ *  12.52​  1.97​  30.96%​  SCP  *	2.050	*​  1,334,221,143​  0.2570​  12.54%​  0.1120​  * 5.46%​ *  7.98​  1.73​  18.50%​  SCG  *	3.850	*​  20,498,542,210​  0.2150​  5.58%​  0.2150​  * 5.58%​ *  17.91​  3.04​  26.64%​  SGP  *	4.550	*​  10,745,816,272​  0.2966​  6.52%​  0.2400​  * 5.27%​ *  15.34​  3.53​  28.90%​  WFD  *	9.910	*​  20,593,868,788​  0.4380​  4.42%​  0.1585​  * 1.60%​ *  22.63​  4.54​  118.28%​ 



*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		20-Mar-15				27-Mar-15		  	Abacus Property	 ABP  2.870​  2.890​  0.02​  0.70%​ 	BWP Trust	 BWP  3.010​  3.010​  0.00​  0.00%​ 	Charter Hall	 CHC  5.240​  5.280​  0.04​  0.76%​ 	Charter Hall Retail	 CQR  4.410​  4.310​  -0.10​  -2.27%​ 	Cromwell	 CMW  1.160​  1.135​  -0.02​  -2.16%​ 	Dexus	 DXS  7.730​  7.710​  -0.02​  -0.26%​ 	Federation Centres	 FDC  3.100​  3.070​  -0.03​  -0.97%​ 	Goodman Group	 GMG  6.200​  6.260​  0.06​  0.97%​ 	GPT Group	 GPT  4.700​  4.600​  -0.10​  -2.13%​ 	Investa Office	 IOF  4.070​  4.010​  -0.06​  -1.47%​ 	Mirvac Group	 MGR  2.040​  2.030​  -0.01​  -0.49%​ 	Novion Property Group	 NVN  2.700​  2.580​  -0.12​  -4.44%​ 	SCA Property Group	 SCP  2.020​  2.050​  0.03​  1.49%​ 	Scentre Group	 SCG  3.930​  3.850​  -0.08​  -2.04%​ 	Stockland Property	 SGP  4.650​  4.550​  -0.10​  -2.15%​ 	Westfield Corporation	 WFD  10.350​  9.910​  -0.44​  *	-4.25%	*​ 




*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector. 

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 13 March 2015, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 13 March 2015. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The table figures for SCG and WFD are based on the proposal issued 4 December 2013. The issued shares are correct but the Earnings and Distributions are based on the December proposal for 2014 forecast earnings. These figures will be adjusted as and when I have the chance to read the now released Scentre/Westfields 2014 figures. 

*5.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*6.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (5 April 2015)

*A-REIT Sector:  Weekending Thursday 02 April 2015 *

A short week and the A-REIT Sector dipped below the support line before a tentative recovery on Thursday. Nervous volatility causing some impressive inter-day swings. Sometimes it is hard to work out whether you should trade long (for a short period) or trade short (for a long period). Perhaps safer to sit on the sidelines until the confidence in the U.S. recovery returns and Greece is either in the EU or not?  Next week will be interesting, another short week.






The *A-REIT Table* for closing prices for Weekending * 02 April  2015 * follows:


	Code	 *	Closing Price	* 		Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Premium to NTA		           ABP  *	2.880	*​  1,483,277,138​  0.2424​  8.42%​  0.1700​  * 5.90%​ *  11.88​  2.42​  19.01%​  BWP  *	3.040	*​  1,952,846,761​  0.3155​  10.38%​  0.1555​  * 5.12%​ *  9.64​  2.18​  39.45%​  CHC  *	5.170	*​  1,857,798,305​  0.2762​  5.34%​  0.2340​  * 4.53%​ *  18.72​  2.38​  117.23%​  CQR  *	4.250	*​  1,596,106,090​  0.4066​  9.57%​  0.2735​  * 6.44%​ *  10.45​  3.52​  20.74%​  CMW  *	1.130	*​  1,963,632,769​  0.1052​  9.31%​  0.0775​  * 6.86%​ *  10.74​  0.74​  52.70%​  DXS  *	7.600	*​  6,882,041,657​  0.4227​  5.56%​  0.3882​  * 5.11%​ *  17.98​  6.47​  17.47%​  FDC  *	3.070	*​  4,382,859,605​  0.3063​  9.98%​  0.1660​  * 5.41%​ *  10.02​  2.44​  25.82%​  GMG  *	6.380	*​  11,184,369,182​  0.5836​  9.15%​  0.2145​  * 3.36%​ *  10.93​  3.15​  102.54%​  GPT  *	4.600	*​  8,170,902,784​  0.3827​  8.32%​  0.2120​  * 4.61%​ *  12.02​  3.94​  16.75%​  IOF  *	3.910	*​  2,400,925,561​  0.3698​  9.46%​  0.1880​  * 4.81%​ *  10.57​  3.42​  14.33%​  MGR  *	2.020	*​  7,468,338,687​  0.1305​  6.46%​  0.0910​  * 4.50%​ *  15.48​  1.69​  19.53%​  NVN  *	2.550	*​  7,846,895,848​  0.2060​  8.08%​  0.1370​  * 5.37%​ *  12.38​  1.97​  29.44%​  SCP  *	2.050	*​  1,334,221,143​  0.2570​  12.54%​  0.1120​  * 5.46%​ *  7.98​  1.73​  18.50%​  SCG  *	3.740	*​  19,912,869,576​  0.2150​  5.75%​  0.2150​  * 5.75%​ *  17.40​  3.04​  23.03%​  SGP  *	4.550	*​  10,745,816,272​  0.2966​  6.52%​  0.2400​  * 5.27%​ *  15.34​  3.53​  28.90%​  WFD  *	9.920	*​  20,614,649,685​  0.4380​  4.42%​  0.1585​  * 1.60%​ *  22.65​  4.54​  118.50%​ 



*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		27-Mar-15				02-Apr-15		  	Abacus Property	 ABP  2.890​  2.880​  -0.01​  -0.35%​ 	BWP Trust	 BWP  3.010​  3.040​  0.03​  1.00%​ 	Charter Hall	 CHC  5.280​  5.170​  -0.11​  -2.08%​ 	Charter Hall Retail	 CQR  4.310​  4.250​  -0.06​  -1.39%​ 	Cromwell	 CMW  1.135​  1.130​  -0.01​  -0.44%​ 	Dexus	 DXS  7.710​  7.600​  -0.11​  -1.43%​ 	Federation Centres	 FDC  3.070​  3.070​  0.00​  0.00%​ 	Goodman Group	 GMG  6.260​  6.380​  0.12​  1.92%​ 	GPT Group	 GPT  4.600​  4.600​  0.00​  0.00%​ 	Investa Office	 IOF  4.010​  3.910​  -0.10​  -2.49%​ 	Mirvac Group	 MGR  2.030​  2.020​  -0.01​  -0.49%​ 	Novion Property Group	 NVN  2.580​  2.550​  -0.03​  -1.16%​ 	SCA Property Group	 SCP  2.050​  2.050​  0.00​  0.00%​ 	Scentre Group	 SCG  3.850​  3.740​  -0.11​  -2.86%​ 	Stockland Property	 SGP  4.550​  4.550​  0.00​  0.00%​ 	Westfield Corporation	 WFD  9.910​  9.920​  0.01​  0.10%​ 




*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector. 

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 13 March 2015, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 13 March 2015. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The table figures for SCG and WFD are based on the proposal issued 4 December 2013. The issued shares are correct but the Earnings and Distributions are based on the December proposal for 2014 forecast earnings. These figures will be adjusted as and when I have the chance to read the now released Scentre/Westfields 2014 figures. 

*5.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*6.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .

p.s: It seems since 13 March 2015 I may have been overstating Cromwell's distribution and yield. it would seem that there can't be too many Cromwell followers reading the thread as it has gone unnoticed for three weeks.


----------



## Logique (10 April 2015)

Logique said:


> Tamawood is another domestic one ASX:TWD



And it seems the market agrees. A good old fav this one.


----------



## nulla nulla (12 April 2015)

*A-REIT Sector:  Weekending Thursday 10 April 2015 *

Another short week and the A-REIT Sector climbed back 20 points on the previous weeks close to finish up 1.59% for the week. A better than expected U.S. Jobs Report saw some confidence return to the U.S. market. The Greeks are making all the right noises about making their bail out payments and staying in the E.U. The U.K FTSE hit new highs and the DAX rebounded.  The All-Ords climbed back above 5900 (5935) and it looks like some confidence (euphoria) has returned to global markets. Charter Hall Retail and Scentre Group were the out performers for the week. Federation Centres and Investa Office were the only two (2) A-REIT's not to close out the week higher than last weeks close.




The *A-REIT Table* for closing prices for Weekending * 10 April  2015 * follows:


	Code	 *	Closing Price	* 		Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Premium to NTA		           ABP  *	2.940	*​  1,514,178,745​  0.2424​  8.24%​  0.1700​  * 5.78%​ *  12.13​  2.42​  21.49%​  BWP  *	3.120	*​  2,004,237,465​  0.3155​  10.11%​  0.1555​  * 4.98%​ *  9.89​  2.18​  43.12%​  CHC  *	5.320	*​  1,911,699,610​  0.2762​  5.19%​  0.2340​  * 4.40%​ *  19.26​  2.38​  123.53%​  CQR  *	4.440	*​  1,667,461,421​  0.4066​  9.16%​  0.2735​  * 6.16%​ *  10.92​  3.52​  26.14%​  CMW  *	1.140	*​  1,981,010,050​  0.1052​  9.23%​  0.0775​  * 6.80%​ *  10.84​  0.74​  54.05%​  DXS  *	7.760	*​  7,026,926,745​  0.4227​  5.45%​  0.3882​  * 5.00%​ *  18.36​  6.47​  19.94%​  FDC  *	3.070	*​  4,382,859,605​  0.3063​  9.98%​  0.1660​  * 5.41%​ *  10.02​  2.44​  25.82%​  GMG  *	6.500	*​  11,394,733,493​  0.5836​  8.98%​  0.2145​  * 3.30%​ *  11.14​  3.15​  106.35%​  GPT  *	4.660	*​  8,277,479,777​  0.3827​  8.21%​  0.2120​  * 4.55%​ *  12.18​  3.94​  18.27%​  IOF  *	3.910	*​  2,400,925,561​  0.3698​  9.46%​  0.1880​  * 4.81%​ *  10.57​  3.42​  14.33%​  MGR  *	2.040	*​  7,542,282,635​  0.1305​  6.40%​  0.0910​  * 4.46%​ *  15.63​  1.69​  20.71%​  NVN  *	2.580	*​  7,939,212,270​  0.2060​  7.98%​  0.1370​  * 5.31%​ *  12.52​  1.97​  30.96%​  SCP  *	2.110	*​  1,373,271,518​  0.2570​  12.18%​  0.1120​  * 5.31%​ *  8.21​  1.73​  21.97%​  SCG  *	3.870	*​  20,605,028,144​  0.2150​  5.56%​  0.2150​  * 5.56%​ *  18.00​  3.04​  27.30%​  SGP  *	4.600	*​  10,863,902,165​  0.2966​  6.45%​  0.2400​  * 5.22%​ *  15.51​  3.53​  30.31%​  WFD  *	9.940	*​  20,656,211,479​  0.4380​  4.41%​  0.1585​  * 1.59%​ *  22.69​  4.54​  118.94%​ 



*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		02-Apr-15				10-Apr-15		  	Abacus Property	 ABP  2.880​  2.940​  0.06​  2.08%​ 	BWP Trust	 BWP  3.040​  3.120​  0.08​  2.63%​ 	Charter Hall	 CHC  5.170​  5.320​  0.15​  2.90%​ 	Charter Hall Retail	 CQR  4.250​  4.440​  0.19​  *	4.47%	*​ 	Cromwell	 CMW  1.130​  1.140​  0.01​  0.88%​ 	Dexus	 DXS  7.600​  7.760​  0.16​  2.11%​ 	Federation Centres	 FDC  3.070​  3.070​  0.00​  0.00%​ 	Goodman Group	 GMG  6.380​  6.500​  0.12​  1.88%​ 	GPT Group	 GPT  4.600​  4.660​  0.06​  1.30%​ 	Investa Office	 IOF  3.910​  3.910​  0.00​  0.00%​ 	Mirvac Group	 MGR  2.020​  2.040​  0.02​  0.99%​ 	Novion Property Group	 NVN  2.550​  2.580​  0.03​  1.18%​ 	SCA Property Group	 SCP  2.050​  2.110​  0.06​  2.93%​ 	Scentre Group	 SCG  3.740​  3.870​  0.13​  *	3.48%	*​ 	Stockland Property	 SGP  4.550​  4.600​  0.05​  1.10%​ 	Westfield Corporation	 WFD  9.920​  9.940​  0.02​  0.20%​ 




*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector. 

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 13 March 2015, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 13 March 2015. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The table figures for SCG and WFD are based on the proposal issued 4 December 2013. The issued shares are correct but the Earnings and Distributions are based on the December proposal for 2014 forecast earnings. These figures will be adjusted as and when I have the chance to read the now released Scentre/Westfields 2014 figures. 

*5.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*6.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (19 April 2015)

*A-REIT Sector:  Weekending Thursday 17 April 2015 *

After six (6) years at the helm of GPT, the CEO Michael Cameron decided it was the right time for him to move from GPT to Suncorp. The reaction of the market was immediate but to my surprise the ripple effect onto other A-REIT's was equally  negative. The much hyped prospects of mergers and acquisitions within the A-REIT sector was suddenly thrown into doubt. It seems more questions were thrown out into the market, undermining investor confidence, than there were ready answers for. Who would replace Mr Cameron at GPT? Would Dexus merge with GPT? Would  the sell off of Investa Office still take place? The prospects of mergers and acquisitions in the A-REIT sector for 2015 suddenly looked shaky. 

Obviously there were other factors also impacting out markets: Greece; global investor confidence; employment figures; no interest rate drop; etc etc. Share prices across the A-REIT Sector dropped, surged and then dropped again for the Sector to finish down approximately 2% for the week. Surprisingly, in all this, the share price of GPT dropped the least of all the A-REIT's for the week.  Next week will answer the obvious question, was this another buying opportunity or are we looking at the start of a correction? 




The *A-REIT Table* for closing prices for Weekending * 17 April  2015 * follows:


	Code	 *	Closing Price	* 		Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Premium to NTA		           ABP  *	2.870	*​  1,478,126,870​  0.2424​  8.45%​  0.1700​  * 5.92%​ *  11.84​  2.42​  18.60%​  BWP  *	3.060	*​  1,965,694,437​  0.3155​  10.31%​  0.1555​  * 5.08%​ *  9.70​  2.18​  40.37%​  CHC  *	5.160	*​  1,854,204,885​  0.2762​  5.35%​  0.2340​  * 4.53%​ *  18.68​  2.38​  116.81%​  CQR  *	4.330	*​  1,626,150,439​  0.4066​  9.39%​  0.2735​  * 6.32%​ *  10.65​  3.52​  23.01%​  CMW  *	1.100	*​  1,911,500,925​  0.1052​  9.56%​  0.0775​  * 7.05%​ *  10.46​  0.74​  48.65%​  DXS  *	7.550	*​  6,836,765,067​  0.4227​  5.60%​  0.3882​  * 5.14%​ *  17.86​  6.47​  16.69%​  FDC  *	3.020	*​  4,311,477,526​  0.3063​  10.14%​  0.1660​  * 5.50%​ *  9.86​  2.44​  23.77%​  GMG  *	6.310	*​  11,061,656,668​  0.5836​  9.25%​  0.2145​  * 3.40%​ *  10.81​  3.15​  100.32%​  GPT  *	4.610	*​  8,188,665,617​  0.3827​  8.30%​  0.2120​  * 4.60%​ *  12.05​  3.94​  17.01%​  IOF  *	3.820	*​  2,345,661,290​  0.3698​  9.68%​  0.1880​  * 4.92%​ *  10.33​  3.42​  11.70%​  MGR  *	1.995	*​  7,375,908,753​  0.1305​  6.54%​  0.0910​  * 4.56%​ *  15.29​  1.69​  18.05%​  NVN  *	2.520	*​  7,754,579,426​  0.2060​  8.17%​  0.1370​  * 5.44%​ *  12.23​  1.97​  27.92%​  SCP  *	2.070	*​  1,347,237,935​  0.2570​  12.42%​  0.1120​  * 5.41%​ *  8.05​  1.73​  19.65%​  SCG  *	3.750	*​  19,966,112,543​  0.2150​  5.73%​  0.2150​  * 5.73%​ *  17.44​  3.04​  23.36%​  SGP  *	4.500	*​  10,627,730,379​  0.2966​  6.59%​  0.2400​  * 5.33%​ *  15.17​  3.53​  27.48%​  WFD  *	9.690	*​  20,136,689,057​  0.4380​  4.52%​  0.1585​  * 1.64%​ *  22.12​  4.54​  113.44%​ 



*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		10-Apr-15				17-Apr-15		  	Abacus Property	 ABP  2.940​  2.870​  -0.07​  -2.38%​ 	BWP Trust	 BWP  3.120​  3.060​  -0.06​  -1.92%​ 	Charter Hall	 CHC  5.320​  5.160​  -0.16​  -3.01%​ 	Charter Hall Retail	 CQR  4.440​  4.330​  -0.11​  -2.48%​ 	Cromwell	 CMW  1.140​  1.100​  -0.04​  -3.51%​ 	Dexus	 DXS  7.760​  7.550​  -0.21​  -2.71%​ 	Federation Centres	 FDC  3.070​  3.020​  -0.05​  -1.63%​ 	Goodman Group	 GMG  6.500​  6.310​  -0.19​  -2.92%​ 	GPT Group	 GPT  4.660​  4.610​  -0.05​  *	-1.07%	*​ 	Investa Office	 IOF  3.910​  3.820​  -0.09​  -2.30%​ 	Mirvac Group	 MGR  2.040​  1.995​  -0.04​  -2.21%​ 	Novion Property Group	 NVN  2.580​  2.520​  -0.06​  -2.33%​ 	SCA Property Group	 SCP  2.110​  2.070​  -0.04​  -1.90%​ 	Scentre Group	 SCG  3.870​  3.750​  -0.12​  -3.10%​ 	Stockland Property	 SGP  4.600​  4.500​  -0.10​  -2.17%​ 	Westfield Corporation	 WFD  9.940​  9.690​  -0.25​  -2.52%​ 




*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector. 

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 13 March 2015, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 13 March 2015. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The table figures for SCG and WFD are based on the proposal issued 4 December 2013. The issued shares are correct but the Earnings and Distributions are based on the December proposal for 2014 forecast earnings. These figures will be adjusted as and when I have the chance to read the now released Scentre/Westfields 2014 figures. 

*5.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*6.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (25 April 2015)

*A-REIT Sector:  Weekending Friday 24 April 2015 *

Well the answer to the obvious question, *"Was this another buying opportunity or are we looking at the start of a correction?"* was that Friday 17th drop in prices was not the buying opportunity but Monday 20 April 2015 certainly was as prices across the A-REIT Sector dropped a further 2% in the morning and spent the rest of the week struggling to maintain that level (and not to fall further) before rebounding on Friday to finish the week higher than the previous week. No correction just yet but a heck of a roller coaster ride.




The *A-REIT Table* for closing prices for Weekending * 24 April  2015 * follows:


	Code	 *	Closing Price	* 		Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Premium to NTA		           ABP  *	2.920	*​  1,503,878,209​  0.2424​  8.30%​  0.1700​  * 5.82%​ *  12.05​  2.42​  20.66%​  BWP  *	3.070	*​  1,972,118,275​  0.3155​  10.28%​  0.1555​  * 5.07%​ *  9.73​  2.18​  40.83%​  CHC  *	5.200	*​  1,868,578,566​  0.2762​  5.31%​  0.2340​  * 4.50%​ *  18.83​  2.38​  118.49%​  CQR  *	4.340	*​  1,629,905,983​  0.4066​  9.37%​  0.2735​  * 6.30%​ *  10.67​  3.52​  23.30%​  CMW  *	1.120	*​  1,946,255,488​  0.1052​  9.39%​  0.0775​  * 6.92%​ *  10.65​  0.74​  51.35%​  DXS  *	7.440	*​  6,737,156,570​  0.4227​  5.68%​  0.3882​  * 5.22%​ *  17.60​  6.47​  14.99%​  FDC  *	2.960	*​  4,225,819,032​  0.3063​  10.35%​  0.1660​  * 5.61%​ *  9.66​  2.44​  21.31%​  GMG  *	6.320	*​  11,079,187,027​  0.5836​  9.23%​  0.2145​  * 3.39%​ *  10.83​  3.15​  100.63%​  GPT  *	4.600	*​  8,170,902,784​  0.3827​  8.32%​  0.2120​  * 4.61%​ *  12.02​  3.94​  16.75%​  IOF  *	3.840	*​  2,357,942,239​  0.3698​  9.63%​  0.1880​  * 4.90%​ *  10.38​  3.42​  12.28%​  MGR  *	2.080	*​  7,690,170,530​  0.1305​  6.27%​  0.0910​  * 4.38%​ *  15.94​  1.69​  23.08%​  NVN  *	2.520	*​  7,754,579,426​  0.2060​  8.17%​  0.1370​  * 5.44%​ *  12.23​  1.97​  27.92%​  SCP  *	2.160	*​  1,405,813,497​  0.2570​  11.90%​  0.1120​  * 5.19%​ *  8.40​  1.73​  24.86%​  SCG  *	3.800	*​  20,232,327,376​  0.2150​  5.66%​  0.2150​  * 5.66%​ *  17.67​  3.04​  25.00%​  SGP  *	4.520	*​  10,674,964,736​  0.2966​  6.56%​  0.2400​  * 5.31%​ *  15.24​  3.53​  28.05%​  WFD  *	9.950	*​  20,676,992,376​  0.4380​  4.40%​  0.1585​  * 1.59%​ *  22.72​  4.54​  119.16%​ 



*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		17-Apr-15				17-Apr-15		  	Abacus Property	 ABP  2.870​  2.920​  0.05​  1.74%​ 	BWP Trust	 BWP  3.060​  3.070​  0.01​  0.33%​ 	Charter Hall	 CHC  5.160​  5.200​  0.04​  0.78%​ 	Charter Hall Retail	 CQR  4.330​  4.340​  0.01​  0.23%​ 	Cromwell	 CMW  1.100​  1.120​  0.02​  1.82%​ 	Dexus	 DXS  7.550​  7.440​  -0.11​  -1.46%​ 	Federation Centres	 FDC  3.020​  2.960​  -0.06​  -1.99%​ 	Goodman Group	 GMG  6.310​  6.320​  0.01​  0.16%​ 	GPT Group	 GPT  4.610​  4.600​  -0.01​  -0.22%​ 	Investa Office	 IOF  3.820​  3.840​  0.02​  0.52%​ 	Mirvac Group	 MGR  1.995​  2.080​  0.09​  *	4.26%	*​ 	Novion Property Group	 NVN  2.520​  2.520​  0.00​  0.00%​ 	SCA Property Group	 SCP  2.070​  2.160​  0.09​  *	4.35%	*​ 	Scentre Group	 SCG  3.750​  3.800​  0.05​  1.33%​ 	Stockland Property	 SGP  4.500​  4.520​  0.02​  0.44%​ 	Westfield Corporation	 WFD  9.690​  9.950​  0.26​  2.68%​ 




*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector. 

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 13 March 2015, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 13 March 2015. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The table figures for SCG and WFD are based on the proposal issued 4 December 2013. The issued shares are correct but the Earnings and Distributions are based on the December proposal for 2014 forecast earnings. These figures will be adjusted as and when I have the chance to read the now released Scentre/Westfields 2014 figures. 

*5.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*6.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (3 May 2015)

*A-REIT Sector:  Weekending Friday 01 May 2015 *

The trend is not my friend but the volatility definitely is. The A-REIT Sector finished down for the week. Daily volumes of shares turning over were mediocre but the prevailing mood is one of uncertainty. One moment, interest rates are expected to go down to keep our dollar low and the next moment they aren't going down so the dollar rises and the A-REIT sector slides. Too much jaw-boning in my opinion and not enough co-ordination between the Government, Big Business and the Reserve Bank.




The *A-REIT Table* for closing prices for Weekending * 01 May  2015 * follows:


	Code	 *	Closing Price	* 		Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Premium to NTA		           ABP  *	2.980	*​  1,534,779,816​  0.2424​  8.13%​  0.1700​  * 5.70%​ *  12.29​  2.42​  23.14%​  BWP  *	3.080	*​  1,978,542,113​  0.3155​  10.24%​  0.1555​  * 5.05%​ *  9.76​  2.18​  41.28%​  CHC  *	5.150	*​  1,850,611,465​  0.2762​  5.36%​  0.2340​  * 4.54%​ *  18.65​  2.38​  116.39%​  CQR  *	4.330	*​  1,626,150,439​  0.4066​  9.39%​  0.2735​  * 6.32%​ *  10.65​  3.52​  23.01%​  CMW  *	1.115	*​  1,937,566,847​  0.1052​  9.43%​  0.0775​  * 6.95%​ *  10.60​  0.74​  50.68%​  DXS  *	7.440	*​  6,737,156,570​  0.4227​  5.68%​  0.3882​  * 5.22%​ *  17.60​  6.47​  14.99%​  FDC  *	2.960	*​  4,225,819,032​  0.3063​  10.35%​  0.1660​  * 5.61%​ *  9.66​  2.44​  21.31%​  GMG  *	6.300	*​  11,044,126,309​  0.5836​  9.26%​  0.2145​  * 3.40%​ *  10.80​  3.15​  100.00%​  GPT  *	4.470	*​  7,939,985,967​  0.3827​  8.56%​  0.2120​  * 4.74%​ *  11.68​  3.94​  13.45%​  IOF  *	3.750	*​  2,302,677,968​  0.3698​  9.86%​  0.1880​  * 5.01%​ *  10.14​  3.42​  9.65%​  MGR  *	2.030	*​  7,505,310,661​  0.1305​  6.43%​  0.0910​  * 4.48%​ *  15.56​  1.69​  20.12%​  NVN  *	2.460	*​  7,569,946,583​  0.2060​  8.37%​  0.1370​  * 5.57%​ *  11.94​  1.97​  24.87%​  SCP  *	2.160	*​  1,405,813,497​  0.2570​  11.90%​  0.1120​  * 5.19%​ *  8.40​  1.73​  24.86%​  SCG  *	3.720	*​  19,806,383,642​  0.2150​  5.78%​  0.2150​  * 5.78%​ *  17.30​  3.04​  22.37%​  SGP  *	4.450	*​  10,509,644,486​  0.2966​  6.67%​  0.2400​  * 5.39%​ *  15.00​  3.53​  26.06%​  WFD  *	9.510	*​  19,762,632,914​  0.4380​  4.61%​  0.1585​  * 1.67%​ *  21.71​  4.54​  109.47%​ 



*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		24-Apr-15				01-May-15		  	Abacus Property	 ABP  2.920​  2.980​  0.06​  *	2.05%	*​ 	BWP Trust	 BWP  3.070​  3.080​  0.01​  0.33%​ 	Charter Hall	 CHC  5.200​  5.150​  -0.05​  -0.96%​ 	Charter Hall Retail	 CQR  4.340​  4.330​  -0.01​  -0.23%​ 	Cromwell	 CMW  1.120​  1.115​  -0.01​  -0.45%​ 	Dexus	 DXS  7.440​  7.440​  0.00​  0.00%​ 	Federation Centres	 FDC  2.960​  2.960​  0.00​  0.00%​ 	Goodman Group	 GMG  6.320​  6.300​  -0.02​  -0.32%​ 	GPT Group	 GPT  4.600​  4.470​  -0.13​  -2.83%​ 	Investa Office	 IOF  3.840​  3.750​  -0.09​  -2.34%​ 	Mirvac Group	 MGR  2.080​  2.030​  -0.05​  -2.40%​ 	Novion Property Group	 NVN  2.520​  2.460​  -0.06​  -2.38%​ 	SCA Property Group	 SCP  2.160​  2.160​  0.00​  0.00%​ 	Scentre Group	 SCG  3.800​  3.720​  -0.08​  -2.11%​ 	Stockland Property	 SGP  4.520​  4.450​  -0.07​  -1.55%​ 	Westfield Corporation	 WFD  9.950​  9.510​  -0.44​  *	-4.42%	*​ 




*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector. 

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 13 March 2015, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 13 March 2015. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The table figures for SCG and WFD are based on the proposal issued 4 December 2013. The issued shares are correct but the Earnings and Distributions are based on the December proposal for 2014 forecast earnings. These figures will be adjusted as and when I have the chance to read the now released Scentre/Westfields 2014 figures. 

*5.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*6.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (9 May 2015)

*A-REIT Sector:  Weekending Friday 08 May 2015 *

The trend continues but has reached a point, where we have to admit it is no longer "sideways" but has a "downward" impetus. It was interesting to see the surge in share prices early in the week, in the lead up to the Reserve Bank announcement of an interest rate cut. However the market reaction when the interest rate cut was announced took me completely by surprise. Share prices began to fall. 

For example SGP, a share that you would think would benefit from an interest rate cut, given their exposure to real-estate, opened at $4.58 then drifted down after the announcement to close the day at $4.48. The perverse logic behind the sell down is that "It is all up hill for the A-REIT Sector from here" (okay, so the 0.01% increase in unemployed didn't help either). 

Knee jerk re-actions, jawboning and big insto's keen to push the prices down so that they can accumulate, makes for a very volatile playing field. And to top it all off, the Dow Jones and the Dax bounced on Friday. Monday should be interesting.




The *A-REIT Table* for closing prices for Weekending * 08 May  2015 * follows:


	Code	 *	Closing Price	* 		Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Premium to NTA		           ABP  *	2.910	*​  1,498,727,941​  0.2424​  8.33%​  0.1700​  * 5.84%​ *  12.00​  2.42​  20.25%​  BWP  *	3.050	*​  1,959,270,599​  0.3155​  10.34%​  0.1555​  * 5.10%​ *  9.67​  2.18​  39.91%​  CHC  *	5.000	*​  1,796,710,160​  0.2762​  5.52%​  0.2340​  * 4.68%​ *  18.10​  2.38​  110.08%​  CQR  *	4.340	*​  1,629,905,983​  0.4066​  9.37%​  0.2735​  * 6.30%​ *  10.67​  3.52​  23.30%​  CMW  *	1.100	*​  1,911,500,925​  0.1052​  9.56%​  0.0775​  * 7.05%​ *  10.46​  0.74​  48.65%​  DXS  *	7.340	*​  6,646,603,390​  0.4227​  5.76%​  0.3882​  * 5.29%​ *  17.36​  6.47​  13.45%​  FDC  *	2.980	*​  4,254,371,864​  0.3063​  10.28%​  0.1660​  * 5.57%​ *  9.73​  2.44​  22.13%​  GMG  *	6.220	*​  10,903,883,435​  0.5836​  9.38%​  0.2145​  * 3.45%​ *  10.66​  3.15​  97.46%​  GPT  *	4.360	*​  7,744,594,813​  0.3827​  8.78%​  0.2120​  * 4.86%​ *  11.39​  3.94​  10.66%​  IOF  *	3.690	*​  2,265,835,120​  0.3698​  10.02%​  0.1880​  * 5.09%​ *  9.98​  3.42​  7.89%​  MGR  *	1.950	*​  7,209,534,872​  0.1305​  6.69%​  0.0910​  * 4.67%​ *  14.94​  1.69​  15.38%​  NVN  *	2.510	*​  7,723,807,286​  0.2060​  8.21%​  0.1370​  * 5.46%​ *  12.18​  1.97​  27.41%​  SCP  *	2.080	*​  1,353,746,331​  0.2570​  12.36%​  0.1120​  * 5.38%​ *  8.09​  1.73​  20.23%​  SCG  *	3.780	*​  20,125,841,443​  0.2150​  5.69%​  0.2150​  * 5.69%​ *  17.58​  3.04​  24.34%​  SGP  *	4.350	*​  10,273,472,700​  0.2966​  6.82%​  0.2400​  * 5.52%​ *  14.67​  3.53​  23.23%​  WFD  *	9.460	*​  19,658,728,430​  0.4380​  4.63%​  0.1585​  * 1.68%​ *  21.60​  4.54​  108.37%​ 



*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		01-May-15				08-May-15		  	Abacus Property	 ABP  2.980​  2.910​  -0.07​  -2.35%​ 	BWP Trust	 BWP  3.080​  3.050​  -0.03​  -0.97%​ 	Charter Hall	 CHC  5.150​  5.000​  -0.15​  -2.91%​ 	Charter Hall Retail	 CQR  4.330​  4.340​  0.01​  0.23%​ 	Cromwell	 CMW  1.115​  1.100​  -0.01​  -1.35%​ 	Dexus	 DXS  7.440​  7.340​  -0.10​  -1.34%​ 	Federation Centres	 FDC  2.960​  2.980​  0.02​  0.68%​ 	Goodman Group	 GMG  6.300​  6.220​  -0.08​  -1.27%​ 	GPT Group	 GPT  4.470​  4.360​  -0.11​  -2.46%​ 	Investa Office	 IOF  3.750​  3.690​  -0.06​  -1.60%​ 	Mirvac Group	 MGR  2.030​  1.950​  -0.08​  -3.94%​ 	Novion Property Group	 NVN  2.460​  2.510​  0.05​  *	2.03%	*​ 	SCA Property Group	 SCP  2.160​  2.080​  -0.08​  -3.70%​ 	Scentre Group	 SCG  3.720​  3.780​  0.06​  1.61%​ 	Stockland Property	 SGP  4.450​  4.350​  -0.10​  -2.25%​ 	Westfield Corporation	 WFD  9.510​  9.460​  -0.05​  -0.53%​ 




*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector. 

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 13 March 2015, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 13 March 2015. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The table figures for SCG and WFD are based on the proposal issued 4 December 2013. The issued shares are correct but the Earnings and Distributions are based on the December proposal for 2014 forecast earnings. These figures will be adjusted as and when I have the chance to read the now released Scentre/Westfields 2014 figures. 

*5.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*6.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (17 May 2015)

*A-REIT Sector:  Weekending Friday 15 May 2015 *

Last week I made the comment "Knee jerk re-actions, jawboning and big insto's keen to push the prices down so that they can accumulate, makes for a very volatile playing field". 

Joe Hockey subsequently released his "Have a go budget", Bill Shorten said he hasn't gone far enough with the small business tax breaks. The initial  market response was hard to gauge but retail started to lift and then this was reflected in A-REIT share prices, particularly for the Retail Centres and Offices. 

Then on Friday "State Street global Advisers" filed notices of becoming a Substantial Share holder (having attained a holding in excess of 5%) for most of the major A-REIT's. The A-REIT sector appeared to lift further on the back of this vote of confidence.




The *A-REIT Table* for closing prices for Weekending * 15 May  2015 * follows:


	Code	 *	Closing Price	* 		Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Premium to NTA		           ABP  *	2.910	*​  1,498,727,941​  0.2424​  8.33%​  0.1700​  * 5.84%​ *  12.00​  2.42​  20.25%​  BWP  *	3.100	*​  1,991,389,789​  0.3155​  10.18%​  0.1555​  * 5.02%​ *  9.83​  2.18​  42.20%​  CHC  *	5.010	*​  1,800,303,580​  0.2762​  5.51%​  0.2340​  * 4.67%​ *  18.14​  2.38​  110.50%​  CQR  *	4.430	*​  1,663,705,877​  0.4066​  9.18%​  0.2735​  * 6.17%​ *  10.90​  3.52​  25.85%​  CMW  *	1.090	*​  1,894,123,644​  0.1052​  9.65%​  0.0775​  * 7.11%​ *  10.36​  0.74​  47.30%​  DXS  *	7.500	*​  6,791,488,478​  0.4227​  5.64%​  0.3882​  * 5.18%​ *  17.74​  6.47​  15.92%​  FDC  *	3.090	*​  4,411,412,436​  0.3063​  9.91%​  0.1660​  * 5.37%​ *  10.09​  2.44​  26.64%​  GMG  *	6.290	*​  11,026,595,949​  0.5836​  9.28%​  0.2145​  * 3.41%​ *  10.78​  3.15​  99.68%​  GPT  *	4.470	*​  7,939,985,967​  0.3827​  8.56%​  0.2120​  * 4.74%​ *  11.68​  3.94​  13.45%​  IOF  *	3.850	*​  2,364,082,713​  0.3698​  9.61%​  0.1880​  * 4.88%​ *  10.41​  3.42​  12.57%​  MGR  *	1.985	*​  7,338,936,779​  0.1305​  6.57%​  0.0910​  * 4.58%​ *  15.21​  1.69​  17.46%​  NVN  *	2.550	*​  7,846,895,848​  0.2060​  8.08%​  0.1370​  * 5.37%​ *  12.38​  1.97​  29.44%​  SCP  *	2.110	*​  1,373,271,518​  0.2570​  12.18%​  0.1120​  * 5.31%​ *  8.21​  1.73​  21.97%​  SCG  *	3.920	*​  20,871,242,978​  0.2150​  5.48%​  0.2150​  * 5.48%​ *  18.23​  3.04​  28.95%​  SGP  *	4.400	*​  10,391,558,593​  0.2966​  6.74%​  0.2400​  * 5.45%​ *  14.83​  3.53​  24.65%​  WFD  *	9.320	*​  19,367,795,874​  0.4380​  4.70%​  0.1585​  * 1.70%​ *  21.28​  4.54​  105.29%​ 



*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		08-May-15				15-May-15		  	Abacus Property	 ABP  2.910​  2.910​  0.00​  0.00%​ 	BWP Trust	 BWP  3.050​  3.100​  0.05​  1.64%​ 	Charter Hall	 CHC  5.000​  5.010​  0.01​  0.20%​ 	Charter Hall Retail	 CQR  4.340​  4.430​  0.09​  2.07%​ 	Cromwell	 CMW  1.100​  1.090​  -0.01​  -0.91%​ 	Dexus	 DXS  7.340​  7.500​  0.16​  2.18%​ 	Federation Centres	 FDC  2.980​  3.090​  0.11​  3.69%​ 	Goodman Group	 GMG  6.220​  6.290​  0.07​  1.13%​ 	GPT Group	 GPT  4.360​  4.470​  0.11​  2.52%​ 	Investa Office	 IOF  3.690​  3.850​  0.16​  4.34%​ 	Mirvac Group	 MGR  1.950​  1.985​  0.04​  1.79%​ 	Novion Property Group	 NVN  2.510​  2.550​  0.04​  1.59%​ 	SCA Property Group	 SCP  2.080​  2.110​  0.03​  1.44%​ 	Scentre Group	 SCG  3.780​  3.920​  0.14​  *	3.70%	*​ 	Stockland Property	 SGP  4.350​  4.400​  0.05​  1.15%​ 	Westfield Corporation	 WFD  9.460​  9.320​  -0.14​  -1.48%​ 




*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector. 

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 13 March 2015, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 13 March 2015. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The table figures for SCG and WFD are based on the proposal issued 4 December 2013. The issued shares are correct but the Earnings and Distributions are based on the December proposal for 2014 forecast earnings. These figures will be adjusted as and when I have the chance to read the now released Scentre/Westfields 2014 figures. 

*5.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*6.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## coolcup (17 May 2015)

Hi nulla
state street are an index fund so it is unlikely that anyone rational took much notice of their change in substantial holdings. This would just be a function of them needing to align their investments with the various indices they follow rather than any specific view on AREITs. 
Cheers


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## nulla nulla (24 May 2015)

*A-REIT Sector:  Weekending Friday 22 May 2015 *

The jawboning continues and the A-REIT Sector spent the first three days of this week in the doldrums before seeming to consolidate on Thursday and rally on Friday to finish the week higher than last weeks close. It is worth noting that for the last eleven trading days the A-REIT sector has been steadily climbing, however it has a long way to go to get back to the dizzy heights of February this year. The volatility continues although the trading opportunities in the swings involve some fairly tight spreads. 




The *A-REIT Table* for closing prices for Weekending * 22 May  2015 * follows:


	Code	 *	Closing Price	* 		Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Premium to NTA		           ABP  *	2.870	*​  1,478,126,870​  0.2424​  8.45%​  0.1700​  * 5.92%​ *  11.84​  2.42​  18.60%​  BWP  *	3.140	*​  2,017,085,141​  0.3155​  10.05%​  0.1555​  * 4.95%​ *  9.95​  2.18​  44.04%​  CHC  *	4.930	*​  1,771,556,218​  0.2762​  5.60%​  0.2340​  * 4.75%​ *  17.85​  2.38​  107.14%​  CQR  *	4.450	*​  1,671,216,964​  0.4066​  9.14%​  0.2735​  * 6.15%​ *  10.94​  3.52​  26.42%​  CMW  *	1.090	*​  1,894,123,644​  0.1052​  9.65%​  0.0775​  * 7.11%​ *  10.36​  0.74​  47.30%​  DXS  *	7.620	*​  6,900,152,293​  0.4227​  5.55%​  0.3882​  * 5.09%​ *  18.03​  6.47​  17.77%​  FDC  *	3.080	*​  4,397,136,020​  0.3063​  9.94%​  0.1660​  * 5.39%​ *  10.06​  2.44​  26.23%​  GMG  *	6.380	*​  11,184,369,182​  0.5836​  9.15%​  0.2145​  * 3.36%​ *  10.93​  3.15​  102.54%​  GPT  *	4.520	*​  8,028,800,127​  0.3827​  8.47%​  0.2120​  * 4.69%​ *  11.81​  3.94​  14.72%​  IOF  *	3.870	*​  2,376,363,662​  0.3698​  9.56%​  0.1880​  * 4.86%​ *  10.47​  3.42​  13.16%​  MGR  *	1.975	*​  7,301,964,806​  0.1305​  6.61%​  0.0910​  * 4.61%​ *  15.13​  1.69​  16.86%​  NVN  *	2.570	*​  7,908,440,129​  0.2060​  8.02%​  0.1370​  * 5.33%​ *  12.48​  1.97​  30.46%​  SCP  *	2.160	*​  1,405,813,497​  0.2570​  11.90%​  0.1120​  * 5.19%​ *  8.40​  1.73​  24.86%​  SCG  *	3.950	*​  21,030,971,878​  0.2150​  5.44%​  0.2150​  * 5.44%​ *  18.37​  3.04​  29.93%​  SGP  *	4.290	*​  10,131,769,628​  0.2966​  6.91%​  0.2400​  * 5.59%​ *  14.46​  3.53​  21.53%​  WFD  *	9.370	*​  19,471,700,358​  0.4380​  4.67%​  0.1585​  * 1.69%​ *  21.39​  4.54​  106.39%​ 



*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		15-May-15				22-May-15		  	Abacus Property	 ABP  2.910​  2.870​  -0.04​  -1.37%​ 	BWP Trust	 BWP  3.100​  3.140​  0.04​  1.29%​ 	Charter Hall	 CHC  5.010​  4.930​  -0.08​  -1.60%​ 	Charter Hall Retail	 CQR  4.430​  4.450​  0.02​  0.45%​ 	Cromwell	 CMW  1.090​  1.090​  0.00​  0.00%​ 	Dexus	 DXS  7.500​  7.620​  0.12​  1.60%​ 	Federation Centres	 FDC  3.090​  3.080​  -0.01​  -0.32%​ 	Goodman Group	 GMG  6.290​  6.380​  0.09​  1.43%​ 	GPT Group	 GPT  4.470​  4.520​  0.05​  1.12%​ 	Investa Office	 IOF  3.850​  3.870​  0.02​  0.52%​ 	Mirvac Group	 MGR  1.985​  1.975​  -0.01​  -0.50%​ 	Novion Property Group	 NVN  2.550​  2.570​  0.02​  0.78%​ 	SCA Property Group	 SCP  2.110​  2.160​  0.05​  *	2.37%	*​ 	Scentre Group	 SCG  3.920​  3.950​  0.03​  0.77%​ 	Stockland Property	 SGP  4.400​  4.290​  -0.11​  *	-2.50%	*​ 	Westfield Corporation	 WFD  9.320​  9.370​  0.05​  0.54%​ 




*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector. 

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 13 March 2015, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 13 March 2015. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The table figures for SCG and WFD are based on the proposal issued 4 December 2013. The issued shares are correct but the Earnings and Distributions are based on the December proposal for 2014 forecast earnings. These figures will be adjusted as and when I have the chance to read the now released Scentre/Westfields 2014 figures. 

*5.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*6.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (31 May 2015)

*A-REIT Sector:  Weekending Friday 29 May 2015 *

This week the A-REIT sector continued the recent upward trajectory, reaching the upper channel bar of the side-ways and downward channel the sector has ranged in over the past few months. With the lead up to most of the shares going ex-div in three weeks time, I wouldn't be surprised to see the A-REIT sector break out of the channel and retest the 13.355 level. Yield bearing stocks are still in demand.  

The Greek debt is probably the largest dark cloud hovering that could cause a fall back.




The *A-REIT Table* for closing prices for Weekending * 29 May  2015 * follows:


	Code	 *	Closing Price	* 		Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Premium to NTA		           ABP  *	2.910	*​  1,498,727,941​  0.2424​  8.33%​  0.1700​  * 5.84%​ *  12.00​  2.42​  20.25%​  BWP  *	3.310	*​  2,126,290,388​  0.3155​  9.53%​  0.1555​  * 4.70%​ *  10.49​  2.18​  51.83%​  CHC  *	4.790	*​  1,721,248,333​  0.2762​  5.77%​  0.2340​  * 4.89%​ *  17.34​  2.38​  101.26%​  CQR  *	4.480	*​  1,682,483,596​  0.4066​  9.08%​  0.2735​  * 6.10%​ *  11.02​  3.52​  27.27%​  CMW  *	1.085	*​  1,885,435,004​  0.1052​  9.70%​  0.0775​  * 7.14%​ *  10.31​  0.74​  46.62%​  DXS  *	8.010	*​  7,253,309,694​  0.4227​  5.28%​  0.3882​  * 4.85%​ *  18.95​  6.47​  23.80%​  FDC  *	3.040	*​  4,340,030,358​  0.3063​  10.08%​  0.1660​  * 5.46%​ *  9.92​  2.44​  24.59%​  GMG  *	6.550	*​  11,482,385,289​  0.5836​  8.91%​  0.2145​  * 3.27%​ *  11.22​  3.15​  107.94%​  GPT  *	4.620	*​  8,206,428,449​  0.3827​  8.28%​  0.2120​  * 4.59%​ *  12.07​  3.94​  17.26%​  IOF  *	3.970	*​  2,437,768,408​  0.3698​  9.31%​  0.1880​  * 4.74%​ *  10.74​  3.42​  16.08%​  MGR  *	2.010	*​  7,431,366,714​  0.1305​  6.49%​  0.0910​  * 4.53%​ *  15.40​  1.69​  18.93%​  NVN  *	2.440	*​  7,508,402,302​  0.2060​  8.44%​  0.1370​  * 5.61%​ *  11.84​  1.97​  23.86%​  SCP  *	2.160	*​  1,405,813,497​  0.2570​  11.90%​  0.1120​  * 5.19%​ *  8.40​  1.73​  24.86%​  SCG  *	3.950	*​  21,030,971,878​  0.2150​  5.44%​  0.2150​  * 5.44%​ *  18.37​  3.04​  29.93%​  SGP  *	4.340	*​  10,249,855,521​  0.2966​  6.83%​  0.2400​  * 5.53%​ *  14.63​  3.53​  22.95%​  WFD  *	9.680	*​  20,115,908,160​  0.4380​  4.52%​  0.1585​  * 1.64%​ *  22.10​  4.54​  113.22%​ 



*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		22-May-15				29-May-15		  	Abacus Property	 ABP  2.870​  2.910​  0.04​  1.39%​ 	BWP Trust	 BWP  3.140​  3.310​  0.17​  *	5.41%	*​ 	Charter Hall	 CHC  4.930​  4.790​  -0.14​  -2.84%​ 	Charter Hall Retail	 CQR  4.450​  4.480​  0.03​  0.67%​ 	Cromwell	 CMW  1.090​  1.085​  -0.01​  -0.46%​ 	Dexus	 DXS  7.620​  8.010​  0.39​  5.12%​ 	Federation Centres	 FDC  3.080​  3.040​  -0.04​  -1.30%​ 	Goodman Group	 GMG  6.380​  6.550​  0.17​  2.66%​ 	GPT Group	 GPT  4.520​  4.620​  0.10​  2.21%​ 	Investa Office	 IOF  3.870​  3.970​  0.10​  2.58%​ 	Mirvac Group	 MGR  1.975​  2.010​  0.03​  1.77%​ 	Novion Property Group	 NVN  2.570​  2.440​  -0.13​  *	-5.06%	*​ 	SCA Property Group	 SCP  2.160​  2.160​  0.00​  0.00%​ 	Scentre Group	 SCG  3.950​  3.950​  0.00​  0.00%​ 	Stockland Property	 SGP  4.290​  4.340​  0.05​  1.17%​ 	Westfield Corporation	 WFD  9.370​  9.680​  0.31​  3.31%​ 




*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector. 

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 13 March 2015, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 13 March 2015. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The table figures for SCG and WFD are based on the proposal issued 4 December 2013. The issued shares are correct but the Earnings and Distributions are based on the December proposal for 2014 forecast earnings. These figures will be adjusted as and when I have the chance to read the now released Scentre/Westfields 2014 figures. 

*5.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*6.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (7 June 2015)

*A-REIT Sector:  Weekending Friday 05 June 2015 *

A few less than glowing economic reports combined with the Greek repayment plan being given yet another extension and the All-Ords drops 4.65% for the week taking the A-REIT Sector down 4.56% with it. 

Sixteen days of slow recovery to the upper channel band were wiped out in four days dragging the A-REIT sector back down to the low point of early May. Yield bearing stocks are still in demand but this week the yield got just a little bit better. 





The *A-REIT Table* for closing prices for Weekending * 05 June  2015 * follows:


	Code	 *	Closing Price	* 		Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Premium to NTA		           ABP  *	2.860	*​  1,472,976,602​  0.2424​  8.48%​  0.1700​  * 5.94%​ *  11.80​  2.42​  18.18%​  BWP  *	3.170	*​  2,036,356,656​  0.3155​  9.95%​  0.1555​  * 4.91%​ *  10.05​  2.18​  45.41%​  CHC  *	4.640	*​  1,667,347,028​  0.2762​  5.95%​  0.2340​  * 5.04%​ *  16.80​  2.38​  94.96%​  CQR  *	4.310	*​  1,618,639,352​  0.4066​  9.43%​  0.2735​  * 6.35%​ *  10.60​  3.52​  22.44%​  CMW  *	1.055	*​  1,833,303,160​  0.1052​  9.97%​  0.0775​  * 7.35%​ *  10.03​  0.74​  42.57%​  DXS  *	7.500	*​  6,791,488,478​  0.4227​  5.64%​  0.3882​  * 5.18%​ *  17.74​  6.47​  15.92%​  FDC  *	2.950	*​  4,211,542,617​  0.3063​  10.38%​  0.1660​  * 5.63%​ *  9.63​  2.44​  20.90%​  GMG  *	6.120	*​  10,728,579,843​  0.5836​  9.54%​  0.2145​  * 3.50%​ *  10.49​  3.15​  94.29%​  GPT  *	4.380	*​  7,780,120,477​  0.3827​  8.74%​  0.2120​  * 4.84%​ *  11.44​  3.94​  11.17%​  IOF  *	3.840	*​  2,357,942,239​  0.3698​  9.63%​  0.1880​  * 4.90%​ *  10.38​  3.42​  12.28%​  MGR  *	1.895	*​  7,006,189,016​  0.1305​  6.89%​  0.0910​  * 4.80%​ *  14.52​  1.69​  12.13%​  NVN  *	2.440	*​  7,508,402,302​  0.2060​  8.44%​  0.1370​  * 5.61%​ *  11.84​  1.97​  23.86%​  SCP  *	2.140	*​  1,392,796,705​  0.2570​  12.01%​  0.1120​  * 5.23%​ *  8.33​  1.73​  23.70%​  SCG  *	3.850	*​  20,498,542,210​  0.2150​  5.58%​  0.2150​  * 5.58%​ *  17.91​  3.04​  26.64%​  SGP  *	4.210	*​  9,942,832,199​  0.2966​  7.05%​  0.2400​  * 5.70%​ *  14.19​  3.53​  19.26%​  WFD  *	9.070	*​  18,848,273,452​  0.4380​  4.83%​  0.1585​  * 1.75%​ *  20.71​  4.54​  99.78%​ 



*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		29-May-15				05-Jun-15		  	Abacus Property	 ABP  2.910​  2.860​  -0.05​  -1.72%​ 	BWP Trust	 BWP  3.310​  3.170​  -0.14​  -4.23%​ 	Charter Hall	 CHC  4.790​  4.640​  -0.15​  -3.13%​ 	Charter Hall Retail	 CQR  4.480​  4.310​  -0.17​  -3.79%​ 	Cromwell	 CMW  1.085​  1.055​  -0.03​  -2.76%​ 	Dexus	 DXS  8.010​  7.500​  -0.51​  *	-6.37%	*​ 	Federation Centres	 FDC  3.040​  2.950​  -0.09​  -2.96%​ 	Goodman Group	 GMG  6.550​  6.120​  -0.43​  -6.56%​ 	GPT Group	 GPT  4.620​  4.380​  -0.24​  -5.19%​ 	Investa Office	 IOF  3.970​  3.840​  -0.13​  -3.27%​ 	Mirvac Group	 MGR  2.010​  1.895​  -0.12​  -5.72%​ 	Novion Property Group	 NVN  2.440​  2.440​  0.00​  0.00%​ 	SCA Property Group	 SCP  2.160​  2.140​  -0.02​  -0.93%​ 	Scentre Group	 SCG  3.950​  3.850​  -0.10​  -2.53%​ 	Stockland Property	 SGP  4.340​  4.210​  -0.13​  -3.00%​ 	Westfield Corporation	 WFD  9.680​  9.070​  -0.61​  -6.30%​ 




*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector. 

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 13 March 2015, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 13 March 2015. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The table figures for SCG and WFD are based on the proposal issued 4 December 2013. The issued shares are correct but the Earnings and Distributions are based on the December proposal for 2014 forecast earnings. These figures will be adjusted as and when I have the chance to read the now released Scentre/Westfields 2014 figures. 

*5.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*6.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (14 June 2015)

*A-REIT Sector:  Weekending Friday 12 June 2015 *


Four days of trading this week saw the A-REIT Sector recover by a meager 0.65%, bouncing off the lower channel bar and hovering barely above the 12.5 support levels of  early May this year. I suspect that there will be a lot of willing buyers to snap up the sellers at these levels to take advantage of the yields on offer.  

No doubt Greece will bring some negativity into the market in the weeks ahead along with US interest rates combined with our own political jaw-boning. All part of the volatility. 





The *A-REIT Table* for closing prices for Weekending * 12 June  2015 * follows:


	Code	 *	Closing Price	* 		Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Premium to NTA		           ABP  *	2.950	*​  1,519,329,013​  0.2424​  8.22%​  0.1700​  * 5.76%​ *  12.17​  2.42​  21.90%​  BWP  *	3.130	*​  2,010,661,303​  0.3155​  10.08%​  0.1555​  * 4.97%​ *  9.92​  2.18​  43.58%​  CHC  *	4.590	*​  1,649,379,927​  0.2762​  6.02%​  0.2340​  * 5.10%​ *  16.62​  2.38​  92.86%​  CQR  *	4.330	*​  1,626,150,439​  0.4066​  9.39%​  0.2735​  * 6.32%​ *  10.65​  3.52​  23.01%​  CMW  *	1.040	*​  1,807,237,239​  0.1052​  10.12%​  0.0775​  * 7.45%​ *  9.89​  0.74​  40.54%​  DXS  *	7.490	*​  6,782,433,160​  0.4227​  5.64%​  0.3882​  * 5.18%​ *  17.72​  6.47​  15.77%​  FDC  *	3.030	*​  4,325,753,942​  0.3063​  10.11%​  0.1660​  * 5.48%​ *  9.89​  2.44​  24.18%​  GMG  *	6.230	*​  10,921,413,794​  0.5836​  9.37%​  0.2145​  * 3.44%​ *  10.68​  3.15​  97.78%​  GPT  *	4.340	*​  7,709,069,149​  0.3827​  8.82%​  0.2120​  * 4.88%​ *  11.34​  3.94​  10.15%​  IOF  *	3.810	*​  2,339,520,815​  0.3698​  9.71%​  0.1880​  * 4.93%​ *  10.30​  3.42​  11.40%​  MGR  *	1.910	*​  7,061,646,977​  0.1305​  6.83%​  0.0910​  * 4.76%​ *  14.64​  1.69​  13.02%​  NVN  *	2.440	*​  7,508,402,302​  0.2060​  8.44%​  0.1370​  * 5.61%​ *  11.84​  1.97​  23.86%​  SCP  *	2.120	*​  1,379,779,914​  0.2570​  12.12%​  0.1120​  * 5.28%​ *  8.25​  1.73​  22.54%​  SCG  *	3.840	*​  20,445,299,244​  0.2150​  5.60%​  0.2150​  * 5.60%​ *  17.86​  3.04​  26.32%​  SGP  *	4.220	*​  9,966,449,378​  0.2966​  7.03%​  0.2400​  * 5.69%​ *  14.23​  3.53​  19.55%​  WFD  *	9.240	*​  19,201,548,699​  0.4380​  4.74%​  0.1585​  * 1.72%​ *  21.10​  4.54​  103.52%​ 



*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		05-Jun-15				12-Jun-15		  	Abacus Property	 ABP  2.860​  2.950​  0.09​  *	3.15%	*​ 	BWP Trust	 BWP  3.170​  3.130​  -0.04​  -1.26%​ 	Charter Hall	 CHC  4.640​  4.590​  -0.05​  -1.08%​ 	Charter Hall Retail	 CQR  4.310​  4.330​  0.02​  0.46%​ 	Cromwell	 CMW  1.055​  1.040​  -0.01​  -1.42%​ 	Dexus	 DXS  7.500​  7.490​  -0.01​  -0.13%​ 	Federation Centres	 FDC  2.950​  3.030​  0.08​  2.71%​ 	Goodman Group	 GMG  6.120​  6.230​  0.11​  1.80%​ 	GPT Group	 GPT  4.380​  4.340​  -0.04​  -0.91%​ 	Investa Office	 IOF  3.840​  3.810​  -0.03​  -0.78%​ 	Mirvac Group	 MGR  1.895​  1.910​  0.01​  0.79%​ 	Novion Property Group	 NVN  2.440​  2.440​  0.00​  0.00%​ 	SCA Property Group	 SCP  2.140​  2.120​  -0.02​  -0.93%​ 	Scentre Group	 SCG  3.850​  3.840​  -0.01​  -0.26%​ 	Stockland Property	 SGP  4.210​  4.220​  0.01​  0.24%​ 	Westfield Corporation	 WFD  9.070​  9.240​  0.17​  1.87%​ 




*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector. 

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 13 March 2015, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 13 March 2015. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The table figures for SCG and WFD are based on the proposal issued 4 December 2013. The issued shares are correct but the Earnings and Distributions are based on the December proposal for 2014 forecast earnings. These figures will be adjusted as and when I have the chance to read the now released Scentre/Westfields 2014 figures. 

*5.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*6.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*7.* NVN Novion has been taken-over/merged with FDC Federation Centres and will be removed from the list next week. I will also try to up date the shares on issue/capital figures across the sector as DXS Dexus new figures should be available by then also.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (21 June 2015)

*A-REIT Sector:  Weekending Friday 19 June 2015 *


The price changes, from week to week, of the individual shares making up the A-REIT Property Sector don't adequately reflect the highs and lows of these shares through the week as they lurch between frantic selling and euphoric buying. Will the Greeks default on their Euro bailout repayments? Will the U.S. raise interest rates in the near future because their economy has shown some small signs of improvement?   Will Glen Stevens drop the Aussie interest rates or just keep jawboning about "maybe" dropping them? Will the Federal Government call an early election? It just goes on and on and the share prices jump around on the slightest rumor.

And the volatility continues from day to day. Sometime it is like playing musical chairs or pass the potato.





The *A-REIT Table* for closing prices for Weekending * 19 June  2015 * follows:


	Code	 *	Closing Price	* 		Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Premium to NTA		           ABP  *	3.040	*​  1,565,681,423​  0.2424​  7.97%​  0.1700​  * 5.59%​ *  12.54​  2.42​  25.62%​  BWP  *	3.190	*​  2,049,204,332​  0.3155​  9.89%​  0.1555​  * 4.87%​ *  10.11​  2.18​  46.33%​  CHC  *	4.560	*​  1,638,599,666​  0.2762​  6.06%​  0.2340​  * 5.13%​ *  16.51​  2.38​  91.60%​  CQR  *	4.390	*​  1,648,683,702​  0.4066​  9.26%​  0.2735​  * 6.23%​ *  10.80​  3.52​  24.72%​  CMW  *	1.050	*​  1,824,614,520​  0.1052​  10.02%​  0.0775​  * 7.38%​ *  9.98​  0.74​  41.89%​  DXS  *	7.530	*​  6,818,654,431​  0.4227​  5.61%​  0.3882​  * 5.16%​ *  17.81​  6.47​  16.38%​  FDC  *	2.950	*​  4,211,542,617​  0.3063​  10.38%​  0.1660​  * 5.63%​ *  9.63​  2.44​  20.90%​  GMG  *	6.510	*​  11,412,263,852​  0.5836​  8.96%​  0.2145​  * 3.29%​ *  11.15​  3.15​  106.67%​  GPT  *	4.400	*​  7,815,646,142​  0.3827​  8.70%​  0.2120​  * 4.82%​ *  11.50​  3.94​  11.68%​  IOF  *	3.900	*​  2,394,785,086​  0.3698​  9.48%​  0.1880​  * 4.82%​ *  10.55​  3.42​  14.04%​  MGR  *	1.895	*​  7,006,189,016​  0.1305​  6.89%​  0.0910​  * 4.80%​ *  14.52​  1.69​  12.13%​  SCP  *	2.150	*​  1,399,305,101​  0.2570​  11.95%​  0.1120​  * 5.21%​ *  8.37​  1.73​  24.28%​  SCG  *	3.890	*​  20,711,514,077​  0.2150​  5.53%​  0.2150​  * 5.53%​ *  18.09​  3.04​  27.96%​  SGP  *	4.280	*​  10,108,152,449​  0.2966​  6.93%​  0.2400​  * 5.61%​ *  14.43​  3.53​  21.25%​  WFD  *	9.100	*​  18,910,616,143​  0.4380​  4.81%​  0.1585​  * 1.74%​ *  20.78​  4.54​  100.44%​ 



*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		12-Jun-15				19-Jun-15		  	Abacus Property	 ABP  2.950​  3.040​  0.09​  3.05%​ 	BWP Trust	 BWP  3.130​  3.190​  0.06​  1.92%​ 	Charter Hall	 CHC  4.590​  4.560​  -0.03​  -0.65%​ 	Charter Hall Retail	 CQR  4.330​  4.390​  0.06​  1.39%​ 	Cromwell	 CMW  1.040​  1.050​  0.01​  0.96%​ 	Dexus	 DXS  7.490​  7.530​  0.04​  0.53%​ 	Federation Centres	 FDC  3.030​  2.950​  -0.08​  -2.64%​ 	Goodman Group	 GMG  6.230​  6.510​  0.28​  *	4.49%	*​ 	GPT Group	 GPT  4.340​  4.400​  0.06​  1.38%​ 	Investa Office	 IOF  3.810​  3.900​  0.09​  2.36%​ 	Mirvac Group	 MGR  1.910​  1.895​  -0.01​  -0.79%​ 	SCA Property Group	 SCP  2.120​  2.150​  0.03​  1.42%​ 	Scentre Group	 SCG  3.840​  3.890​  0.05​  1.30%​ 	Stockland Property	 SGP  4.220​  4.280​  0.06​  1.42%​ 	Westfield Corporation	 WFD  9.240​  9.100​  -0.14​  -1.52%​ 




*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector. 

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 13 March 2015, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 13 March 2015. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The table figures for SCG and WFD are based on the proposal issued 4 December 2013. The issued shares are correct but the Earnings and Distributions are based on the December proposal for 2014 forecast earnings. These figures will be adjusted as and when I have the chance to read the now released Scentre/Westfields 2014 figures. 

*5.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*6.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (28 June 2015)

*A-REIT Sector:  Weekending Friday 26 June 2015 *


The Greeks are now going to have a referendum as to whether they tighten their belts or default on their Euro bailout repayments and leave the European Union. This uncertainty continues to play on Global Markets as investors swing between "will they" or Won't they". This combined with the fact that most of the A-REIT's traded X-Div on Friday saw a significant drop in share prices on Thursday and Friday. The A-REIT sector continues to slide sideways and downwards currently testing the bottom of the recent channel.  





The *A-REIT Table* for closing prices for Weekending * 26 June  2015 * follows:


	Code	 *	Closing Price	* 		Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Premium to NTA		           ABP  *	2.980	*​  1,534,779,816​  0.2424​  8.13%​  0.1700​  * 5.70%​ *  12.29​  2.42​  23.14%​  BWP  *	3.130	*​  2,010,661,303​  0.3155​  10.08%​  0.1555​  * 4.97%​ *  9.92​  2.18​  43.58%​  CHC  *	4.470	*​  1,606,258,883​  0.2762​  6.18%​  0.2340​  * 5.23%​ *  16.18​  2.38​  87.82%​  CQR  *	4.210	*​  1,581,083,915​  0.4066​  9.66%​  0.2735​  * 6.50%​ *  10.35​  3.52​  19.60%​  CMW  *	1.030	*​  1,789,859,957​  0.1052​  10.21%​  0.0775​  * 7.52%​ *  9.79​  0.74​  39.19%​  DXS  *	7.340	*​  6,646,603,390​  0.4227​  5.76%​  0.3882​  * 5.29%​ *  17.36​  6.47​  13.45%​  FDC  *	2.950	*​  4,211,542,617​  0.3063​  10.38%​  0.1660​  * 5.63%​ *  9.63​  2.44​  20.90%​  GMG  *	6.360	*​  11,149,308,464​  0.5836​  9.18%​  0.2145​  * 3.37%​ *  10.90​  3.15​  101.90%​  GPT  *	4.300	*​  7,638,017,820​  0.3827​  8.90%​  0.2120​  * 4.93%​ *  11.24​  3.94​  9.14%​  IOF  *	3.870	*​  2,376,363,662​  0.3698​  9.56%​  0.1880​  * 4.86%​ *  10.47​  3.42​  13.16%​  MGR  *	1.845	*​  6,821,329,148​  0.1305​  7.07%​  0.0910​  * 4.93%​ *  14.14​  1.69​  9.17%​  SCP  *	2.130	*​  1,386,288,310​  0.2570​  12.07%​  0.1120​  * 5.26%​ *  8.29​  1.73​  23.12%​  SCG  *	3.850	*​  20,498,542,210​  0.2150​  5.58%​  0.2150​  * 5.58%​ *  17.91​  3.04​  26.64%​  SGP  *	4.180	*​  9,871,980,663​  0.2966​  7.10%​  0.2400​  * 5.74%​ *  14.09​  3.53​  18.41%​  WFD  *	9.290	*​  19,305,453,183​  0.4380​  4.71%​  0.1585​  * 1.71%​ *  21.21​  4.54​  104.63%​ 


*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		19-Jun-15				26-Jun-15		  	Abacus Property	 ABP  3.040​  2.980​  -0.06​  -1.97%​ 	BWP Trust	 BWP  3.190​  3.130​  -0.06​  -1.88%​ 	Charter Hall	 CHC  4.560​  4.470​  -0.09​  -1.97%​ 	Charter Hall Retail	 CQR  4.390​  4.210​  -0.18​  *	-4.10%	*​ 	Cromwell	 CMW  1.050​  1.030​  -0.02​  -1.90%​ 	Dexus	 DXS  7.530​  7.340​  -0.19​  -2.52%​ 	Federation Centres	 FDC  2.950​  2.950​  0.00​  0.00%​ 	Goodman Group	 GMG  6.510​  6.360​  -0.15​  -2.30%​ 	GPT Group	 GPT  4.400​  4.300​  -0.10​  -2.27%​ 	Investa Office	 IOF  3.900​  3.870​  -0.03​  -0.77%​ 	Mirvac Group	 MGR  1.895​  1.845​  -0.05​  -2.64%​ 	SCA Property Group	 SCP  2.150​  2.130​  -0.02​  -0.93%​ 	Scentre Group	 SCG  3.890​  3.850​  -0.04​  -1.03%​ 	Stockland Property	 SGP  4.280​  4.180​  -0.10​  -2.34%​ 	Westfield Corporation	 WFD  9.100​  9.290​  0.19​  2.09%​ 




*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector. 

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 13 March 2015, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 13 March 2015. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The table figures for SCG and WFD are based on the proposal issued 4 December 2013. The issued shares are correct but the Earnings and Distributions are based on the December proposal for 2014 forecast earnings. These figures will be adjusted as and when I have the chance to read the now released Scentre/Westfields 2014 figures. 

*5.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*6.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (5 July 2015)

*A-REIT Sector:  Weekending Friday 03 July 2015 *


The Greeks go to the ballot tonight but no one seems to know what they are voting for. The Chinese stock exchange had a bit of a correction on Friday. I suspect that the Chinese correction could have more flow on impact on our markets than the Greek tragedy.  





The *A-REIT Table* for closing prices for Weekending * 03 July  2015 * follows:


	Code	 *	Closing Price	* 		Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Premium to NTA		           ABP  *	2.980	*​  1,534,779,816​  0.2424​  8.13%​  0.1700​  * 5.70%​ *  12.29​  2.42​  23.14%​  BWP  *	3.150	*​  2,023,508,979​  0.3155​  10.02%​  0.1555​  * 4.94%​ *  9.98​  2.18​  44.50%​  CHC  *	4.630	*​  1,663,753,608​  0.2762​  5.97%​  0.2340​  * 5.05%​ *  16.76​  2.38​  94.54%​  CQR  *	4.240	*​  1,592,350,546​  0.4066​  9.59%​  0.2735​  * 6.45%​ *  10.43​  3.52​  20.45%​  CMW  *	1.040	*​  1,807,237,239​  0.1052​  10.12%​  0.0775​  * 7.45%​ *  9.89​  0.74​  40.54%​  DXS  *	7.280	*​  6,592,271,482​  0.4227​  5.81%​  0.3882​  * 5.33%​ *  17.22​  6.47​  12.52%​  FDC  *	2.950	*​  4,211,542,617​  0.3063​  10.38%​  0.1660​  * 5.63%​ *  9.63​  2.44​  20.90%​  GMG  *	6.380	*​  11,184,369,182​  0.5836​  9.15%​  0.2145​  * 3.36%​ *  10.93​  3.15​  102.54%​  GPT  *	4.340	*​  7,709,069,149​  0.3827​  8.82%​  0.2120​  * 4.88%​ *  11.34​  3.94​  10.15%​  IOF  *	3.830	*​  2,351,801,764​  0.3698​  9.66%​  0.1880​  * 4.91%​ *  10.36​  3.42​  11.99%​  MGR  *	1.870	*​  6,913,759,082​  0.1305​  6.98%​  0.0910​  * 4.87%​ *  14.33​  1.69​  10.65%​  SCP  *	2.100	*​  1,366,763,122​  0.2570​  12.24%​  0.1120​  * 5.33%​ *  8.17​  1.73​  21.39%​  SCG  *	3.790	*​  20,179,084,410​  0.2150​  5.67%​  0.2150​  * 5.67%​ *  17.63​  3.04​  24.67%​  SGP  *	4.130	*​  9,753,894,770​  0.2966​  7.18%​  0.2400​  * 5.81%​ *  13.92​  3.53​  17.00%​  WFD  *	9.280	*​  19,284,672,286​  0.4380​  4.72%​  0.1585​  * 1.71%​ *  21.19​  4.54​  104.41%​ 



*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		26-Jun-15				03-Jul-15		  	Abacus Property	 ABP  2.980​  2.980​  0.00​  0.00%​ 	BWP Trust	 BWP  3.130​  3.150​  0.02​  0.64%​ 	Charter Hall	 CHC  4.470​  4.630​  0.16​  *	3.58%	*​ 	Charter Hall Retail	 CQR  4.210​  4.240​  0.03​  0.71%​ 	Cromwell	 CMW  1.030​  1.040​  0.01​  0.97%​ 	Dexus	 DXS  7.340​  7.280​  -0.06​  -0.82%​ 	Federation Centres	 FDC  2.950​  2.950​  0.00​  0.00%​ 	Goodman Group	 GMG  6.360​  6.380​  0.02​  0.31%​ 	GPT Group	 GPT  4.300​  4.340​  0.04​  0.93%​ 	Investa Office	 IOF  3.870​  3.830​  -0.04​  -1.03%​ 	Mirvac Group	 MGR  1.845​  1.870​  0.03​  1.36%​ 	SCA Property Group	 SCP  2.130​  2.100​  -0.03​  -1.41%​ 	Scentre Group	 SCG  3.850​  3.790​  -0.06​  -1.56%​ 	Stockland Property	 SGP  4.180​  4.130​  -0.05​  -1.20%​ 	Westfield Corporation	 WFD  9.290​  9.280​  -0.01​  -0.11%​ 




*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector. 

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 13 March 2015, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 13 March 2015. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The table figures for SCG and WFD are based on the proposal issued 4 December 2013. The issued shares are correct but the Earnings and Distributions are based on the December proposal for 2014 forecast earnings. These figures will be adjusted as and when I have the chance to read the now released Scentre/Westfields 2014 figures. 

*5.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*6.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (12 July 2015)

*A-REIT Sector:  Weekending Friday 10 July 2015 *


The Greeks went to the ballot and voted "no" to the austerity conditions attached to the EU bailout. Then late this week, after they have defaulted on the payment that was due 30/06/2015, they have requested that the bailout discussions be re-opened and that they will agree to the conditions that they rejected less than a week ago. No-one seems to believe them.

The Chinese government took action to stop the collapse of their stock market but all it seemed to do was slow the flow. And now the US Fed is indicating that there will be an increase in the US interest rates (within the next 12 months). 

And the volatility continues as the A-REIT Sector continues to track sideways and downwards. 





The *A-REIT Table* for closing prices for Weekending * 10 July  2015 * follows:



	Code	 *	Closing Price	* 		Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Premium to NTA		           ABP  *	2.890	*​  1,598,667,528​  0.2424​  8.39%​  0.1697​  * 5.87%​ *  11.92​  2.42​  19.42%​  BWP  *	3.190	*​  2,049,204,332​  0.3155​  9.89%​  0.1577​  * 4.94%​ *  10.11​  2.18​  46.33%​  CHC  *	4.610	*​  1,875,430,316​  0.2762​  5.99%​  0.2420​  * 5.25%​ *  16.69​  2.38​  93.70%​  CQR  *	4.240	*​  1,592,350,546​  0.4066​  9.59%​  0.2750​  * 6.49%​ *  10.43​  3.52​  20.45%​  CMW  *	1.060	*​  1,844,144,856​  0.1052​  9.92%​  0.0786​  * 7.42%​ *  10.08​  0.74​  43.24%​  DXS  *	7.260	*​  7,048,054,094​  0.4227​  5.82%​  0.4104​  * 5.65%​ *  17.18​  6.47​  12.21%​  FDC  *	2.960	*​  11,717,605,883​  0.3063​  10.35%​  0.1730​  * 5.84%​ *  9.66​  2.44​  21.31%​  GMG  *	6.270	*​  10,991,535,231​  0.5836​  9.31%​  0.2220​  * 3.54%​ *  10.74​  3.15​  99.05%​  GPT  *	4.270	*​  7,590,262,676​  0.3827​  8.96%​  0.2170​  * 5.08%​ *  11.16​  3.94​  8.38%​  IOF  *	3.810	*​  2,339,520,815​  0.3698​  9.71%​  0.1925​  * 5.05%​ *  10.30​  3.42​  11.40%​  MGR  *	1.875	*​  6,934,975,584​  0.1305​  6.96%​  0.0940​  * 5.01%​ *  14.37​  1.69​  10.95%​  SCP  *	2.120	*​  1,529,555,711​  0.2570​  12.12%​  0.1140​  * 5.38%​ *  8.25​  1.73​  22.54%​  SCG  *	3.810	*​  20,285,570,343​  0.2150​  5.64%​  0.2150​  * 5.64%​ *  17.72​  3.04​  25.33%​  SGP  *	4.140	*​  9,777,511,949​  0.2966​  7.16%​  0.2400​  * 5.80%​ *  13.96​  3.53​  17.28%​  WFD  *	9.280	*​  19,284,672,286​  0.4380​  4.72%​  0.1585​  * 1.71%​ *  21.19​  4.54​  104.41%​ 


*The comparison table of this weeks closing prices versus last weeks closing prices follows:*



	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		03-Jul-15				10-Jul-15		  	Abacus Property	 ABP  2.980​  2.890​  -0.09​  -3.02%​ 	BWP Trust	 BWP  3.150​  3.190​  0.04​  1.27%​ 	Charter Hall	 CHC  4.630​  4.610​  -0.02​  -0.43%​ 	Charter Hall Retail	 CQR  4.240​  4.240​  0.00​  0.00%​ 	Cromwell	 CMW  1.040​  1.060​  0.02​  *	1.92%	*​ 	Dexus	 DXS  7.280​  7.260​  -0.02​  -0.27%​ 	Federation Centres	 FDC  2.950​  2.960​  0.01​  0.34%​ 	Goodman Group	 GMG  6.380​  6.270​  -0.11​  -1.72%​ 	GPT Group	 GPT  4.340​  4.270​  -0.07​  -1.61%​ 	Investa Office	 IOF  3.830​  3.810​  -0.02​  -0.52%​ 	Mirvac Group	 MGR  1.870​  1.875​  0.00​  0.27%​ 	SCA Property Group	 SCP  2.100​  2.120​  0.02​  0.95%​ 	Scentre Group	 SCG  3.790​  3.810​  0.02​  0.53%​ 	Stockland Property	 SGP  4.130​  4.140​  0.01​  0.24%​ 	Westfield Corporation	 WFD  9.280​  9.280​  0.00​  0.00%​ 



*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector. 

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 03 July 2015, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 03 July 2015. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The table figures for SCG and WFD are based on the proposal issued 4 December 2013. The issued shares are correct but the Earnings and Distributions are based on the December proposal for 2014 forecast earnings. These figures will be adjusted probably when the December figures are released in early 2016. 

*5.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*6.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (19 July 2015)

*A-REIT Sector:  Weekending Friday 17 July 2015 *


The A-REIT sector rallied hard this week moving from the bottom of the "downward/sideways" channel to the top of the channel by close of business on Thursday but was not able to sustain the momentum and break out above the upper channel bar, easing back a little on Friday. 

The global markets seem to be rebounding on optimism that the Greeks will accept the austerity measures and get their economy in order (yeah right) and that the Chinese markets have stabilised (yeah right). Even the news that the U.S Fed is likely to start lifting interest rates, possible as early as September this year, did not faze investors. 

This week will be interesting. Will the smart investors pour in for the attractive yields? Or will the other smart investors see this as an opportune time to take the money and run before the next sell down?




The *A-REIT Table* for closing prices for Weekending * 17 July  2015 * follows:


	Code	 *	Closing Price	* 		Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Premium to NTA		           ABP  *	2.980	*​  1,648,453,022​  0.2424​  8.13%​  0.1697​  * 5.69%​ *  12.29​  2.42​  23.14%​  BWP  *	3.300	*​  2,119,866,550​  0.3155​  9.56%​  0.1577​  * 4.78%​ *  10.46​  2.18​  51.38%​  CHC  *	4.720	*​  1,920,180,280​  0.2762​  5.85%​  0.2420​  * 5.13%​ *  17.09​  2.38​  98.32%​  CQR  *	4.300	*​  1,614,883,808​  0.4066​  9.46%​  0.2750​  * 6.40%​ *  10.58​  3.52​  22.16%​  CMW  *	1.100	*​  1,913,735,228​  0.1052​  9.56%​  0.0786​  * 7.15%​ *  10.46​  0.74​  48.65%​  DXS  *	7.560	*​  7,339,295,998​  0.4227​  5.59%​  0.4104​  * 5.43%​ *  17.89​  6.47​  16.85%​  FDC  *	3.020	*​  11,955,124,921​  0.3063​  10.14%​  0.1730​  * 5.73%​ *  9.86​  2.44​  23.77%​  GMG  *	6.480	*​  11,359,672,775​  0.5836​  9.01%​  0.2220​  * 3.43%​ *  11.10​  3.15​  105.71%​  GPT  *	4.450	*​  7,910,226,910​  0.3827​  8.60%​  0.2170​  * 4.88%​ *  11.63​  3.94​  12.94%​  IOF  *	3.900	*​  2,394,785,086​  0.3698​  9.48%​  0.1925​  * 4.94%​ *  10.55​  3.42​  14.04%​  MGR  *	1.925	*​  7,119,908,267​  0.1305​  6.78%​  0.0940​  * 4.88%​ *  14.75​  1.69​  13.91%​  SCP  *	2.140	*​  1,543,985,482​  0.2570​  12.01%​  0.1140​  * 5.33%​ *  8.33​  1.73​  23.70%​  SCG  *	3.900	*​  20,764,757,044​  0.2150​  5.51%​  0.2150​  * 5.51%​ *  18.14​  3.04​  28.29%​  SGP  *	4.250	*​  10,037,300,914​  0.2966​  6.98%​  0.2400​  * 5.65%​ *  14.33​  3.53​  20.40%​  WFD  *	9.580	*​  19,908,099,192​  0.4380​  4.57%​  0.1585​  * 1.65%​ *  21.87​  4.54​  111.01%​ 



*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		10-Jul-15				17-Jul-15		  	Abacus Property	 ABP  2.890​  2.980​  0.09​  3.11%​ 	BWP Trust	 BWP  3.190​  3.300​  0.11​  3.45%​ 	Charter Hall	 CHC  4.610​  4.720​  0.11​  2.39%​ 	Charter Hall Retail	 CQR  4.240​  4.300​  0.06​  1.42%​ 	Cromwell	 CMW  1.060​  1.100​  0.04​  3.77%​ 	Dexus	 DXS  7.260​  7.560​  0.30​  4.13%​ 	Federation Centres	 FDC  2.960​  3.020​  0.06​  2.03%​ 	Goodman Group	 GMG  6.270​  6.480​  0.21​  3.35%​ 	GPT Group	 GPT  4.270​  4.450​  0.18​  *	4.22%	*​ 	Investa Office	 IOF  3.810​  3.900​  0.09​  2.36%​ 	Mirvac Group	 MGR  1.875​  1.925​  0.05​  2.67%​ 	SCA Property Group	 SCP  2.120​  2.140​  0.02​  0.94%​ 	Scentre Group	 SCG  3.810​  3.900​  0.09​  2.36%​ 	Stockland Property	 SGP  4.140​  4.250​  0.11​  2.66%​ 	Westfield Corporation	 WFD  9.280​  9.580​  0.30​  3.23%​ 



*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector. 

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 03 July 2015, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 03 July 2015. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The table figures for SCG and WFD are based on the proposal issued 4 December 2013. The issued shares are correct but the Earnings and Distributions are based on the December proposal for 2014 forecast earnings. These figures will be adjusted probably when the December figures are released in early 2016. 

*5.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*6.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## SilverRanger (19 July 2015)

nulla nulla said:


> *A-REIT Sector:  Weekending Friday 17 July 2015 *
> 
> 
> The A-REIT sector rallied hard this week moving from the bottom of the "downward/sideways" channel to the top of the channel by close of business on Thursday but was not able to sustain the momentum and break out above the upper channel bar, easing back a little on Friday.
> ...




GOZ and NSR have been added to the ASX 200, and hence part of SLF, are they in your trading portfolio?


----------



## nulla nulla (20 July 2015)

GOZ and NSR are not in my personal trading portfolio, however if they have recently been added to the XPJ - Property Sector I will add them to the A-REIT list.


----------



## nulla nulla (27 July 2015)

*A-REIT Sector:  Weekending Friday 24 July 2015 *


The A-REIT sector rally ran out of steam in week ending 24 July 2015 and faded back to the middle of the downward/sideways channel by Fridays close. If the Sector can find support at the 12434 support level of 14 July then (in my humble opinion) it is likely that the Sector will rally on the back of perceived improvement in the U.S economy and stability in China and possibly Greece.

If the sector doesn't hold above the 12434 support level then it is possible that the sector could drift down to 12300 and lower. Which ever way it goes the volatility will continue to provide buy/sell opportunities.




The *A-REIT Table* for closing prices for Weekending * 24 July  2015 * follows:


	Code	 *	Closing Price	* 		Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Premium to NTA		           ABP  *	2.900	*​  1,604,199,250​  0.2424​  8.36%​  0.1697​  * 5.85%​ *  11.96​  2.42​  19.83%​  BWP  *	3.260	*​  2,094,171,198​  0.3155​  9.68%​  0.1577​  * 4.84%​ *  10.33​  2.18​  49.54%​  CHC  *	4.530	*​  1,842,884,888​  0.2762​  6.10%​  0.2420​  * 5.34%​ *  16.40​  2.38​  90.34%​  CQR  *	4.200	*​  1,577,328,371​  0.4066​  9.68%​  0.2750​  * 6.55%​ *  10.33​  3.52​  19.32%​  CMW  *	1.075	*​  1,870,241,245​  0.1052​  9.79%​  0.0786​  * 7.31%​ *  10.22​  0.74​  45.27%​  DXS  *	7.530	*​  7,310,171,808​  0.4227​  5.61%​  0.4104​  * 5.45%​ *  17.81​  6.47​  16.38%​  FDC  *	2.900	*​  11,480,086,844​  0.3063​  10.56%​  0.1730​  * 5.97%​ *  9.47​  2.44​  18.85%​  GMG  *	6.320	*​  11,079,187,027​  0.5836​  9.23%​  0.2220​  * 3.51%​ *  10.83​  3.15​  100.63%​ 	GOZ	 *	3.240	*​  1,843,650,010​  0.2570​  7.93%​  0.1970​  * 6.08%​ *  12.61​  2.16​  50.00%​  GPT  *	4.390	*​  7,803,572,166​  0.3827​  8.72%​  0.2170​  * 4.94%​ *  11.47​  3.94​  11.42%​  IOF  *	3.830	*​  2,351,801,764​  0.3698​  9.66%​  0.1925​  * 5.03%​ *  10.36​  3.42​  11.99%​  MGR  *	1.845	*​  6,824,015,975​  0.1305​  7.07%​  0.0940​  * 5.09%​ *  14.14​  1.69​  9.17%​ 	NSR	 *	1.675	*​  560,214,485​  0.0320​  1.91%​  0.0820​  * 4.90%​ *  52.34​  0.01​  16650.00%​  SCP  *	2.070	*​  1,493,481,284​  0.2570​  12.42%​  0.1140​  * 5.51%​ *  8.05​  1.73​  19.65%​  SCG  *	3.840	*​  20,445,299,244​  0.2150​  5.60%​  0.2150​  * 5.60%​ *  17.86​  3.04​  26.32%​  SGP  *	4.160	*​  9,824,746,306​  0.2966​  7.13%​  0.2400​  * 5.77%​ *  14.03​  3.53​  17.85%​  WFD  *	9.440	*​  19,617,166,636​  0.4380​  4.64%​  0.1585​  * 1.68%​ *  21.55​  4.54​  107.93%​ 



*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		17-Jul-15				24-Jul-15		  	Abacus Property	 ABP  2.980​  2.900​  -0.08​  -2.68%​ 	BWP Trust	 BWP  3.300​  3.260​  -0.04​  -1.21%​ 	Charter Hall	 CHC  4.720​  4.530​  -0.19​  -4.03%​ 	Charter Hall Retail	 CQR  4.300​  4.200​  -0.10​  -2.33%​ 	Cromwell	 CMW  1.100​  1.075​  -0.03​  -2.27%​ 	Dexus	 DXS  7.560​  7.530​  -0.03​  -0.40%​ 	Federation Centres	 FDC  3.020​  2.900​  -0.12​  -3.97%​ 	Goodman Group	 GMG  6.480​  6.320​  -0.16​  -2.47%​ 	Growthpoint Properties		GOZ	 3.290​  3.240​  -0.05​  -1.52%​ 	GPT Group	 GPT  4.450​  4.390​  -0.06​  -1.35%​ 	Investa Office	 IOF  3.900​  3.830​  -0.07​  -1.79%​ 	Mirvac Group	 MGR  1.925​  1.845​  -0.08​  *	-4.16%	*​ 	National Storaage		NSR	 1.700​  1.675​  -0.02​  -1.47%​ 	SCA Property Group	 SCP  2.140​  2.070​  -0.07​  -3.27%​ 	Scentre Group	 SCG  3.900​  3.840​  -0.06​  -1.54%​ 	Stockland Property	 SGP  4.250​  4.160​  -0.09​  -2.12%​ 	Westfield Corporation	 WFD  9.580​  9.440​  -0.14​  -1.46%​ 




*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector. 

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 03 July 2015, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 03 July 2015. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The table figures for SCG and WFD are based on the proposal issued 4 December 2013. The issued shares are correct but the Earnings and Distributions are based on the December proposal for 2014 forecast earnings. These figures will be adjusted probably when the December figures are released in early 2016. 

*5.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*6.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## Toyota Lexcen (27 July 2015)

thanks nulla nulla, this going to take some time to ride out for long term holders I feel


----------



## nulla nulla (2 August 2015)

[
*A-REIT Sector:  Weekending Friday 31 July 2015 *


The A-REIT sector rallied during the week finishing the week up 3.81%, due mainly to the support received by Abacus, Westfield, GPT and Charter Hall. The trend was sideways and up seeing the A-REIT sector break above the upper channel bar.

Mind you some of the rally was probably just month end portfolio jigging. No doubt the volatility will continue presenting plenty of trade opportunities for the bold.




The *A-REIT Table* for closing prices for Weekending * 31 July  2015 * follows:


    Code     *    Closing Price    *         Capital                Earnings $                ROE                Dist $                    Yield %                    P/E                NTA $                Premium to NTA                   ABP 
*    3.110    *​ 
1,720,365,402​ 
0.2424​ 
7.79%​ 
0.1697​  
*    5.46%    *​ 
12.83​ 
2.42​ 
28.51%​  BWP 
*    3.370    *​ 
2,164,833,416​ 
0.3155​ 
9.36%​ 
0.1577​  
*    4.68%    *​ 
10.68​ 
2.18​ 
54.59%​  CHC 
*    4.730    *​ 
1,924,248,459​ 
0.2762​ 
5.84%​ 
0.2420​  
*    5.12%    *​ 
17.13​ 
2.38​ 
98.74%​  CQR 
*    4.310    *​ 
1,618,639,352​ 
0.4066​ 
9.43%​ 
0.2750​  
*    6.38%    *​ 
10.60​ 
3.52​ 
22.44%​  CMW 
*    1.115    *​ 
1,939,831,617​ 
0.1052​ 
9.43%​ 
0.0786​  
*    7.05%    *​ 
10.60​ 
0.74​ 
50.68%​  DXS 
*    7.780    *​ 
7,552,873,395​ 
0.4227​ 
5.43%​ 
0.4104​  
*    5.28%    *​ 
18.41​ 
6.47​ 
20.25%​  FDC 
*    3.000    *​ 
11,875,951,908​ 
0.3063​ 
10.21%​ 
0.1730​  
*    5.77%    *​ 
9.79​ 
2.44​ 
22.95%​  GMG 
*    6.540    *​ 
11,464,854,930​ 
0.5836​ 
8.92%​ 
0.2220​  
*    3.39%    *​ 
11.21​ 
3.15​ 
107.62%​     GOZ    
*    3.300    *​ 
1,877,791,677​ 
0.2570​ 
7.79%​ 
0.1970​  
*    5.97%    *​ 
12.84​ 
2.16​ 
52.78%​  GPT 
*    4.610    *​ 
8,194,639,563​ 
0.3827​ 
8.30%​ 
0.2170​  
*    4.71%    *​ 
12.05​ 
3.94​ 
17.01%​  IOF 
*    3.960    *​ 
2,431,627,934​ 
0.3698​ 
9.34%​ 
0.1925​  
*    4.86%    *​ 
10.71​ 
3.42​ 
15.79%​  MGR 
*    1.890    *​ 
6,990,455,389​ 
0.1305​ 
6.90%​ 
0.0940​  
*    4.97%    *​ 
14.48​ 
1.69​ 
11.83%​     NSR    
*    1.675    *​ 
560,214,485​ 
0.0320​ 
1.91%​ 
0.0820​  
*    4.90%    *​ 
52.34​ 
0.01​ 
16650.00%​  SCP 
*    2.140    *​ 
1,543,985,482​ 
0.2570​ 
12.01%​ 
0.1140​  
*    5.33%    *​ 
8.33​ 
1.73​ 
23.70%​  SCG 
*    3.960    *​ 
21,084,214,845​ 
0.2150​ 
5.43%​ 
0.2150​  
*    5.43%    *​ 
18.42​ 
3.04​ 
30.26%​  SGP 
*    4.250    *​ 
10,037,300,914​ 
0.2966​ 
6.98%​ 
0.2400​  
*    5.65%    *​ 
14.33​ 
3.53​ 
20.40%​  WFD 
*    10.030    *​ 
20,843,239,551​ 
0.4380​ 
4.37%​ 
0.1585​  
*    1.58%    *​ 
22.90​ 
4.54​ 
120.93%​ 



*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


    Share        Code            Closing_Price                Closing_Price                Change$                    Change%                      24-Jul-15                31-Jul-15              Abacus Property     ABP 
2.900​ 
3.110​ 
0.21​ 
*    7.24%    *​     BWP Trust     BWP 
3.260​ 
3.370​ 
0.11​ 
3.37%​     Charter Hall     CHC 
4.530​ 
4.730​ 
0.20​ 
4.42%​     Charter Hall Retail     CQR 
4.200​ 
4.310​ 
0.11​ 
2.62%​     Cromwell     CMW 
1.075​ 
1.115​ 
0.04​ 
3.72%​     Dexus     DXS 
7.530​ 
7.780​ 
0.25​ 
3.32%​     Federation Centres     FDC 
2.900​ 
3.000​ 
0.10​ 
3.45%​     Goodman Group     GMG 
6.320​ 
6.540​ 
0.22​ 
3.48%​     Growthpoint Properties        GOZ    
3.240​ 
3.300​ 
0.06​ 
1.85%​     GPT Group     GPT 
4.390​ 
4.610​ 
0.22​ 
5.01%​     Investa Office     IOF 
3.830​ 
3.960​ 
0.13​ 
3.39%​     Mirvac Group     MGR 
1.845​ 
1.890​ 
0.04​ 
2.44%​     National Storaage        NSR    
1.675​ 
1.675​ 
0.00​ 
0.00%​     SCA Property Group     SCP 
2.070​ 
2.140​ 
0.07​ 
3.38%​     Scentre Group     SCG 
3.840​ 
3.960​ 
0.12​ 
3.13%​     Stockland Property     SGP 
4.160​ 
4.250​ 
0.09​ 
2.16%​     Westfield Corporation     WFD 
9.440​ 
10.030​ 
0.59​ 
6.25%​ 




*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 03 July 2015, can change from day to day due to active share buy-back programs and other factors.

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 03 July 2015. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The table figures for SCG and WFD are based on the proposal issued 4 December 2013. The issued shares are correct but the Earnings and Distributions are based on the December proposal for 2014 forecast earnings. These figures will be adjusted probably when the December figures are released in early 2016.

*5.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*6.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (9 August 2015)

*A-REIT Sector:  Weekending Friday 07 August 2015 *


The All-Ords finished the week down 3.39% as investors dumped banks and resources. The fear with banks being an increased exposure to bad debts and the likelihood of the other banks following ANZ's lead to raise substantial capital. The A-REIT sector managed to hold its fall to 2.03% mainly because of finance investors seeking safe havens with the A-REIT share yields. 

FDC was the biggest loser through the week when the board suddenly dumped the CEO and replaced him with the former CEO of Novion. GPT was the only A-REIT share that went against the trend and finished up the week 1.52%.






The *A-REIT Table* for closing prices for Weekending * 07 August  2015 * follows:



	Code	 *	Closing Price	* 		Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Premium to NTA		           ABP  *	3.090	*​  1,709,301,959​  0.2424​  7.84%​  0.1697​  * 5.49%​ *  12.75​  2.42​  27.69%​  BWP  *	3.260	*​  2,094,171,198​  0.3155​  9.68%​  0.1577​  * 4.84%​ *  10.33​  2.18​  49.54%​  CHC  *	4.720	*​  1,920,180,280​  0.2762​  5.85%​  0.2420​  * 5.13%​ *  17.09​  2.38​  98.32%​  CQR  *	4.240	*​  1,592,350,546​  0.4066​  9.59%​  0.2750​  * 6.49%​ *  10.43​  3.52​  20.45%​  CMW  *	1.085	*​  1,887,638,838​  0.1052​  9.70%​  0.0786​  * 7.24%​ *  10.31​  0.74​  46.62%​  DXS  *	7.640	*​  7,416,960,506​  0.4227​  5.53%​  0.4104​  * 5.37%​ *  18.07​  6.47​  18.08%​  FDC  *	2.840	*​  11,242,567,806​  0.3063​  10.79%​  0.1730​  * 6.09%​ *  9.27​  2.44​  16.39%​  GMG  *	6.260	*​  10,974,004,872​  0.5836​  9.32%​  0.2220​  * 3.55%​ *  10.73​  3.15​  98.73%​ 	GOZ	 *	3.270	*​  1,860,720,844​  0.2570​  7.86%​  0.1970​  * 6.02%​ *  12.72​  2.16​  51.39%​  GPT  *	4.680	*​  8,319,070,099​  0.3827​  8.18%​  0.2170​  * 4.64%​ *  12.23​  3.94​  18.78%​  IOF  *	3.860	*​  2,370,223,188​  0.3698​  9.58%​  0.1925​  * 4.99%​ *  10.44​  3.42​  12.87%​  MGR  *	1.845	*​  6,824,015,975​  0.1305​  7.07%​  0.0940​  * 5.09%​ *  14.14​  1.69​  9.17%​ 	NSR	 *	1.680	*​  561,886,767​  0.0320​  1.90%​  0.0820​  * 4.88%​ *  52.50​  0.01​  16700.00%​  SCP  *	2.110	*​  1,522,340,826​  0.2570​  12.18%​  0.1140​  * 5.40%​ *  8.21​  1.73​  21.97%​  SCG  *	3.960	*​  21,084,214,845​  0.2150​  5.43%​  0.2150​  * 5.43%​ *  18.42​  3.04​  30.26%​  SGP  *	4.130	*​  9,753,894,770​  0.2966​  7.18%​  0.2400​  * 5.81%​ *  13.92​  3.53​  17.00%​  WFD  *	9.770	*​  20,302,936,232​  0.4380​  4.48%​  0.1585​  * 1.62%​ *  22.31​  4.54​  115.20%​ 



*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		31-Jul-15				07-Aug-15		  	Abacus Property	 ABP  3.110​  3.090​  -0.02​  -0.64%​ 	BWP Trust	 BWP  3.370​  3.260​  -0.11​  -3.26%​ 	Charter Hall	 CHC  4.730​  4.720​  -0.01​  -0.21%​ 	Charter Hall Retail	 CQR  4.310​  4.240​  -0.07​  -1.62%​ 	Cromwell	 CMW  1.115​  1.085​  -0.03​  -2.69%​ 	Dexus	 DXS  7.780​  7.640​  -0.14​  -1.80%​ 	Federation Centres	 FDC  3.000​  2.840​  -0.16​  *	-5.33%	*​ 	Goodman Group	 GMG  6.540​  6.260​  -0.28​  -4.28%​ 	Growthpoint Properties		GOZ	 3.300​  3.270​  -0.03​  -0.91%​ 	GPT Group	 GPT  4.610​  4.680​  0.07​  *	1.52%	*​ 	Investa Office	 IOF  3.960​  3.860​  -0.10​  -2.53%​ 	Mirvac Group	 MGR  1.890​  1.845​  -0.04​  -2.38%​ 	National Storaage		NSR	 1.675​  1.680​  0.00​  0.30%​ 	SCA Property Group	 SCP  2.140​  2.110​  -0.03​  -1.40%​ 	Scentre Group	 SCG  3.960​  3.960​  0.00​  0.00%​ 	Stockland Property	 SGP  4.250​  4.130​  -0.12​  -2.82%​ 	Westfield Corporation	 WFD  10.030​  9.770​  -0.26​  -2.59%​ 




*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector. 

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 03 July 2015, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 03 July 2015. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The table figures for SCG and WFD are based on the proposal issued 4 December 2013. The issued shares are correct but the Earnings and Distributions are based on the December proposal for 2014 forecast earnings. These figures will be adjusted probably when the December figures are released in early 2016. 

*5.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*6.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (16 August 2015)

*A-REIT Sector:  Weekending Friday 14 August 2015 *


The A-REIT Property Sector finished the week down a further 0.79% on last week after a week of fluctuation following the Chinese currency revaluations. A week where A-REIT shares were up and down like a roller coaster and almost as fast in reversing direction. No doubt the volatility will continue as the year end reporting gets into full swing.




The *A-REIT Table* for closing prices for Weekending * 14 August  2015 * follows:


	Code	 *	Closing Price	* 		Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Premium to NTA		           ABP  *	3.000	*​  1,659,516,465​  0.2424​  8.08%​  0.1697​  * 5.66%​ *  12.38​  2.42​  23.97%​  BWP  *	3.270	*​  2,100,595,036​  0.3155​  9.65%​  0.1577​  * 4.82%​ *  10.36​  2.18​  50.00%​  CHC  *	4.700	*​  1,912,043,923​  0.2762​  5.88%​  0.2420​  * 5.15%​ *  17.02​  2.38​  97.48%​  CQR  *	4.180	*​  1,569,817,283​  0.4066​  9.73%​  0.2750​  * 6.58%​ *  10.28​  3.52​  18.75%​  CMW  *	1.075	*​  1,870,241,245​  0.1052​  9.79%​  0.0786​  * 7.31%​ *  10.22​  0.74​  45.27%​  DXS  *	7.630	*​  7,407,252,443​  0.4227​  5.54%​  0.4104​  * 5.38%​ *  18.05​  6.47​  17.93%​  FDC  *	2.790	*​  11,044,635,274​  0.3063​  10.98%​  0.1730​  * 6.20%​ *  9.11​  2.44​  14.34%​  GMG  *	6.320	*​  11,079,187,027​  0.5836​  9.23%​  0.2220​  * 3.51%​ *  10.83​  3.15​  100.63%​ 	GOZ	 *	3.290	*​  1,872,101,399​  0.2570​  7.81%​  0.1970​  * 5.99%​ *  12.80​  2.16​  52.31%​  GPT  *	4.660	*​  8,283,518,517​  0.3827​  8.21%​  0.2170​  * 4.66%​ *  12.18​  3.94​  18.27%​  IOF  *	3.700	*​  2,271,975,595​  0.3698​  9.99%​  0.1925​  * 5.20%​ *  10.01​  3.42​  8.19%​  MGR  *	1.855	*​  6,861,002,511​  0.1305​  7.04%​  0.0940​  * 5.07%​ *  14.21​  1.69​  9.76%​ 	NSR	 *	1.670	*​  558,542,203​  0.0320​  1.92%​  0.0820​  * 4.91%​ *  52.19​  0.01​  16600.00%​  SCP  *	2.050	*​  1,479,051,513​  0.2570​  12.54%​  0.1140​  * 5.56%​ *  7.98​  1.73​  18.50%​  SCG  *	3.820	*​  20,338,813,310​  0.2150​  5.63%​  0.2150​  * 5.63%​ *  17.77​  3.04​  25.66%​  SGP  *	4.210	*​  9,942,832,199​  0.2966​  7.05%​  0.2400​  * 5.70%​ *  14.19​  3.53​  19.26%​  WFD  *	9.780	*​  20,323,717,129​  0.4380​  4.48%​  0.1585​  * 1.62%​ *  22.33​  4.54​  115.42%​ 



*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		07-Aug-15				14-Aug-15		  	Abacus Property	 ABP  3.090​  3.000​  -0.09​  -2.91%​ 	BWP Trust	 BWP  3.260​  3.270​  0.01​  0.31%​ 	Charter Hall	 CHC  4.720​  4.700​  -0.02​  -0.42%​ 	Charter Hall Retail	 CQR  4.240​  4.180​  -0.06​  -1.42%​ 	Cromwell	 CMW  1.085​  1.075​  -0.01​  -0.92%​ 	Dexus	 DXS  7.640​  7.630​  -0.01​  -0.13%​ 	Federation Centres	 FDC  2.840​  2.790​  -0.05​  -1.76%​ 	Goodman Group	 GMG  6.260​  6.320​  0.06​  0.96%​ 	Growthpoint Properties		GOZ	 3.270​  3.290​  0.02​  0.61%​ 	GPT Group	 GPT  4.680​  4.660​  -0.02​  -0.43%​ 	Investa Office	 IOF  3.860​  3.700​  -0.16​  *	-4.15%	*​ 	Mirvac Group	 MGR  1.845​  1.855​  0.01​  0.54%​ 	National Storaage		NSR	 1.680​  1.670​  -0.01​  -0.60%​ 	SCA Property Group	 SCP  2.110​  2.050​  -0.06​  -2.84%​ 	Scentre Group	 SCG  3.960​  3.820​  -0.14​  -3.54%​ 	Stockland Property	 SGP  4.130​  4.210​  0.08​  *	1.94%	*​ 	Westfield Corporation	 WFD  9.770​  9.780​  0.01​  0.10%​ 




*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector. 

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 03 July 2015, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 03 July 2015. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The table figures for SCG and WFD are based on the proposal issued 4 December 2013. The issued shares are correct but the Earnings and Distributions are based on the December proposal for 2014 forecast earnings. These figures will be adjusted probably when the December figures are released in early 2016. 

*5.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*6.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (23 August 2015)

*A-REIT Sector:  Weekending Friday 21 August 2015 *


This sideways and downward tracking of the A-REIT Property Sector is getting a bit tedious. Each time the market starts to pick up something negative puts a stop to any upward momentum and pushes the market down to new (recent) lows. 

Last week it was China devaluing their currency (and having a  huge chemical explosion), The US Fed forecasting that they would lift interest rates in the near future, local profit reporting (other than A-REIT's) being less than market expectations and then the Greek Prime Minister resigns setting Greece up for another election, casting doubts on the Greeks intentions to pay back their bailouts.

And the volatility rolls on.  




The *A-REIT Table* for closing prices for Weekending * 21 August  2015 * follows:


	Code	 *	Closing Price	* 		Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Premium to NTA		           ABP  *	2.890	*​  1,598,667,528​  0.2424​  8.39%​  0.1697​  * 5.87%​ *  11.92​  2.42​  19.42%​  BWP  *	3.190	*​  2,049,204,332​  0.3155​  9.89%​  0.1577​  * 4.94%​ *  10.11​  2.18​  46.33%​  CHC  *	4.440	*​  1,806,271,281​  0.2762​  6.22%​  0.2420​  * 5.45%​ *  16.08​  2.38​  86.55%​  CQR  *	4.000	*​  1,502,217,496​  0.4066​  10.17%​  0.2750​  * 6.88%​ *  9.84​  3.52​  13.64%​  CMW  *	1.045	*​  1,818,048,466​  0.1052​  10.07%​  0.0786​  * 7.52%​ *  9.93​  0.74​  41.22%​  DXS  *	7.560	*​  7,339,295,998​  0.4227​  5.59%​  0.4104​  * 5.43%​ *  17.89​  6.47​  16.85%​  FDC  *	2.790	*​  11,044,635,274​  0.3063​  10.98%​  0.1730​  * 6.20%​ *  9.11​  2.44​  14.34%​  GMG  *	6.070	*​  10,640,928,047​  0.5836​  9.61%​  0.2220​  * 3.66%​ *  10.40​  3.15​  92.70%​ 	GOZ	 *	3.120	*​  1,775,366,677​  0.2570​  8.24%​  0.1970​  * 6.31%​ *  12.14​  2.16​  44.44%​  GPT  *	4.470	*​  7,945,778,492​  0.3827​  8.56%​  0.2170​  * 4.85%​ *  11.68​  3.94​  13.45%​  IOF  *	3.780	*​  2,321,099,391​  0.3698​  9.78%​  0.1925​  * 5.09%​ *  10.22​  3.42​  10.53%​  MGR  *	1.800	*​  6,657,576,561​  0.1305​  7.25%​  0.0940​  * 5.22%​ *  13.79​  1.69​  6.51%​ 	NSR	 *	1.670	*​  558,542,203​  0.0320​  1.92%​  0.0820​  * 4.91%​ *  52.19​  0.01​  16600.00%​  SCP  *	1.965	*​  1,417,724,987​  0.2570​  13.08%​  0.1140​  * 5.80%​ *  7.65​  1.73​  13.58%​  SCG  *	3.740	*​  19,912,869,576​  0.2150​  5.75%​  0.2150​  * 5.75%​ *  17.40​  3.04​  23.03%​  SGP  *	4.060	*​  9,588,574,520​  0.2966​  7.31%​  0.2400​  * 5.91%​ *  13.69​  3.53​  15.01%​  WFD  *	9.490	*​  19,721,071,120​  0.4380​  4.62%​  0.1585​  * 1.67%​ *  21.67​  4.54​  109.03%​ 



*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		14-Aug-15				21-Aug-15		  	Abacus Property	 ABP  3.000​  2.890​  -0.11​  -3.67%​ 	BWP Trust	 BWP  3.270​  3.190​  -0.08​  -2.45%​ 	Charter Hall	 CHC  4.700​  4.440​  -0.26​  *	-5.53%	*​ 	Charter Hall Retail	 CQR  4.180​  4.000​  -0.18​  -4.31%​ 	Cromwell	 CMW  1.075​  1.045​  -0.03​  -2.79%​ 	Dexus	 DXS  7.630​  7.560​  -0.07​  -0.92%​ 	Federation Centres	 FDC  2.790​  2.790​  0.00​  0.00%​ 	Goodman Group	 GMG  6.320​  6.070​  -0.25​  -3.96%​ 	Growthpoint Properties		GOZ	 3.290​  3.120​  -0.17​  -5.17%​ 	GPT Group	 GPT  4.660​  4.470​  -0.19​  -4.08%​ 	Investa Office	 IOF  3.700​  3.780​  0.08​  *	2.16%	*​ 	Mirvac Group	 MGR  1.855​  1.800​  -0.05​  -2.96%​ 	National Storaage		NSR	 1.670​  1.670​  0.00​  0.00%​ 	SCA Property Group	 SCP  2.050​  1.965​  -0.08​  -4.15%​ 	Scentre Group	 SCG  3.820​  3.740​  -0.08​  -2.09%​ 	Stockland Property	 SGP  4.210​  4.060​  -0.15​  -3.56%​ 	Westfield Corporation	 WFD  9.780​  9.490​  -0.29​  -2.97%​ 




*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector. 

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 03 July 2015, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 03 July 2015. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The table figures for SCG and WFD are based on the proposal issued 4 December 2013. The issued shares are correct but the Earnings and Distributions are based on the December proposal for 2014 forecast earnings. These figures will be adjusted probably when the December figures are released in early 2016. 

*5.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*6.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (30 August 2015)

*A-REIT Sector:  Weekending Friday 28 August 2015 *


This week the A-REIT sector managed to finish higher than it did last week. However the highs are getting lower and the lows are getting lower despite all the positive  reports and the upbeat forecasts. The sector continues to move sideways and downwards. At the moment I am holding some shares that are in the red and trading in and out of some other shares that are providing the opportunity to get in on lows and out on modest profits on the upswing. In some instance I have sold early in the day only to re-enter at the original entry price later in the day. Overall treading water. A bit boring all-in-all.

And the volatility rolls on.  




The *A-REIT Table* for closing prices for Weekending * 28 August  2015 * follows:


	Code	 *	Closing Price	* 		Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Premium to NTA		           ABP  *	3.030	*​  1,676,111,630​  0.2424​  8.00%​  0.1697​  * 5.60%​ *  12.50​  2.42​  25.21%​  BWP  *	3.170	*​  2,036,356,656​  0.3155​  9.95%​  0.1577​  * 4.97%​ *  10.05​  2.18​  45.41%​  CHC  *	4.450	*​  1,810,339,459​  0.2762​  6.21%​  0.2420​  * 5.44%​ *  16.11​  2.38​  86.97%​  CQR  *	4.020	*​  1,509,728,583​  0.4066​  10.11%​  0.2750​  * 6.84%​ *  9.89​  3.52​  14.20%​  CMW  *	1.040	*​  1,809,349,670​  0.1052​  10.12%​  0.0786​  * 7.56%​ *  9.89​  0.74​  40.54%​  DXS  *	7.410	*​  7,193,675,046​  0.4227​  5.70%​  0.4104​  * 5.54%​ *  17.53​  6.47​  14.53%​  FDC  *	2.800	*​  11,084,221,781​  0.3063​  10.94%​  0.1730​  * 6.18%​ *  9.14​  2.44​  14.75%​  GMG  *	6.140	*​  10,763,640,561​  0.5836​  9.50%​  0.2220​  * 3.62%​ *  10.52​  3.15​  94.92%​ 	GOZ	 *	3.150	*​  1,792,437,510​  0.2570​  8.16%​  0.1970​  * 6.25%​ *  12.26​  2.16​  45.83%​  GPT  *	4.480	*​  7,963,554,283​  0.3827​  8.54%​  0.2170​  * 4.84%​ *  11.71​  3.94​  13.71%​  IOF  *	3.780	*​  2,321,099,391​  0.3698​  9.78%​  0.1925​  * 5.09%​ *  10.22​  3.42​  10.53%​  MGR  *	1.765	*​  6,528,123,683​  0.1305​  7.39%​  0.0940​  * 5.33%​ *  13.52​  1.69​  4.44%​ 	NSR	 *	1.615	*​  540,147,101​  0.0320​  1.98%​  0.0820​  * 5.08%​ *  50.47​  0.01​  16050.00%​  SCP  *	1.985	*​  1,432,154,758​  0.2570​  12.95%​  0.1140​  * 5.74%​ *  7.72​  1.73​  14.74%​  SCG  *	3.860	*​  20,551,785,177​  0.2150​  5.57%​  0.2150​  * 5.57%​ *  17.95​  3.04​  26.97%​  SGP  *	3.960	*​  9,352,402,734​  0.2966​  7.49%​  0.2400​  * 6.06%​ *  13.35​  3.53​  12.18%​  WFD  *	9.730	*​  20,219,812,645​  0.4380​  4.50%​  0.1585​  * 1.63%​ *  22.21​  4.54​  114.32%​ 



*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		21-Aug-15				28-Aug-15		  	Abacus Property	 ABP  2.890​  3.030​  0.14​  *	4.84%	*​ 	BWP Trust	 BWP  3.190​  3.170​  -0.02​  -0.63%​ 	Charter Hall	 CHC  4.440​  4.450​  0.01​  0.23%​ 	Charter Hall Retail	 CQR  4.000​  4.020​  0.02​  0.50%​ 	Cromwell	 CMW  1.045​  1.040​  0.00​  -0.48%​ 	Dexus	 DXS  7.560​  7.410​  -0.15​  -1.98%​ 	Federation Centres	 FDC  2.790​  2.800​  0.01​  0.36%​ 	Goodman Group	 GMG  6.070​  6.140​  0.07​  1.15%​ 	Growthpoint Properties		GOZ	 3.120​  3.150​  0.03​  0.96%​ 	GPT Group	 GPT  4.470​  4.480​  0.01​  0.22%​ 	Investa Office	 IOF  3.780​  3.780​  0.00​  0.00%​ 	Mirvac Group	 MGR  1.800​  1.765​  -0.04​  -1.94%​ 	National Storage		NSR	 1.670​  1.615​  -0.05​  *	-3.29%	*​ 	SCA Property Group	 SCP  1.965​  1.985​  0.02​  1.02%​ 	Scentre Group	 SCG  3.740​  3.860​  0.12​  3.21%​ 	Stockland Property	 SGP  4.060​  3.960​  -0.10​  -2.46%​ 	Westfield Corporation	 WFD  9.490​  9.730​  0.24​  2.53%​ 




*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector. 

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 03 July 2015, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 03 July 2015. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The table figures for SCG and WFD are based on the proposal issued 4 December 2013. The issued shares are correct but the Earnings and Distributions are based on the December proposal for 2014 forecast earnings. These figures will be adjusted probably when the December figures are released in early 2016. 

*5.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*6.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (6 September 2015)

*A-REIT Sector:  Weekending Friday 04 September 2015 *


This week the A-REIT sector didn't manage to finish higher than it did last week. In fact it fell to the bottom of the recent trading channel. Local Economic figures, fears about China's slowing growth and fall in recent Chinese manufacturing along with a steadily declining Australian Dollar combined to depress our local share market. 

Will the A-REIT Sector bounce next week back into the channel or will it break out downward? The market sentiment is very negative at the moment. The perspective for the All Ords is that a fall below the 5000 level will likely be seen to confirm that the market is under control of the bears.  The volatility rolls on.  




The *A-REIT Table* for closing prices for Weekending * 04 September  2015 * follows:


	Code	 *	Closing Price	* 		Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Premium to NTA		           ABP  *	3.060	*​  1,692,706,794​  0.2424​  7.92%​  0.1697​  * 5.55%​ *  12.62​  2.42​  26.45%​  BWP  *	3.040	*​  1,952,846,761​  0.3155​  10.38%​  0.1577​  * 5.19%​ *  9.64​  2.18​  39.45%​  CHC  *	4.270	*​  1,737,112,245​  0.2762​  6.47%​  0.2420​  * 5.67%​ *  15.46​  2.38​  79.41%​  CQR  *	3.950	*​  1,483,439,777​  0.4066​  10.29%​  0.2750​  * 6.96%​ *  9.71​  3.52​  12.22%​  CMW  *	0.995	*​  1,731,060,502​  0.1052​  10.57%​  0.0786​  * 7.90%​ *  9.46​  0.74​  34.46%​  DXS  *	7.320	*​  7,106,302,475​  0.4227​  5.77%​  0.4104​  * 5.61%​ *  17.32​  6.47​  13.14%​  FDC  *	2.750	*​  10,886,289,249​  0.3063​  11.14%​  0.1730​  * 6.29%​ *  8.98​  2.44​  12.70%​  GMG  *	5.780	*​  10,132,547,629​  0.5836​  10.10%​  0.2220​  * 3.84%​ *  9.90​  3.15​  83.49%​ 	GOZ	 *	3.140	*​  1,786,747,232​  0.2570​  8.18%​  0.1970​  * 6.27%​ *  12.22​  2.16​  45.37%​  GPT  *	4.320	*​  7,679,141,630​  0.3827​  8.86%​  0.2170​  * 5.02%​ *  11.29​  3.94​  9.64%​  IOF  *	3.800	*​  2,333,380,340​  0.3698​  9.73%​  0.1925​  * 5.07%​ *  10.28​  3.42​  11.11%​  MGR  *	1.710	*​  6,324,697,733​  0.1305​  7.63%​  0.0940​  * 5.50%​ *  13.10​  1.69​  1.18%​ 	NSR	 *	1.480	*​  494,995,485​  0.0320​  2.16%​  0.0820​  * 5.54%​ *  46.25​  0.01​  14700.00%​  SCP  *	1.900	*​  1,370,828,232​  0.2570​  13.53%​  0.1140​  * 6.00%​ *  7.39​  1.73​  9.83%​  SCG  *	3.740	*​  19,912,869,576​  0.2150​  5.75%​  0.2150​  * 5.75%​ *  17.40​  3.04​  23.03%​  SGP  *	3.800	*​  8,974,527,876​  0.2966​  7.81%​  0.2400​  * 6.32%​ *  12.81​  3.53​  7.65%​  WFD  *	9.580	*​  19,908,099,192​  0.4380​  4.57%​  0.1585​  * 1.65%​ *  21.87​  4.54​  111.01%​ 



*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		28-Aug-15				04-Sep-15		  	Abacus Property	 ABP  3.030​  3.060​  0.03​  *	0.99%	*​ 	BWP Trust	 BWP  3.170​  3.040​  -0.13​  -4.10%​ 	Charter Hall	 CHC  4.450​  4.270​  -0.18​  -4.04%​ 	Charter Hall Retail	 CQR  4.020​  3.950​  -0.07​  -1.74%​ 	Cromwell	 CMW  1.040​  0.995​  -0.05​  -4.33%​ 	Dexus	 DXS  7.410​  7.320​  -0.09​  -1.21%​ 	Federation Centres	 FDC  2.800​  2.750​  -0.05​  -1.79%​ 	Goodman Group	 GMG  6.140​  5.780​  -0.36​  -5.86%​ 	Growthpoint Properties		GOZ	 3.150​  3.140​  -0.01​  -0.32%​ 	GPT Group	 GPT  4.480​  4.320​  -0.16​  -3.57%​ 	Investa Office	 IOF  3.780​  3.800​  0.02​  0.53%​ 	Mirvac Group	 MGR  1.765​  1.710​  -0.05​  -3.12%​ 	National Storage		NSR	 1.615​  1.480​  -0.14​  *	-8.36%	*​ 	SCA Property Group	 SCP  1.985​  1.900​  -0.09​  -4.28%​ 	Scentre Group	 SCG  3.860​  3.740​  -0.12​  -3.11%​ 	Stockland Property	 SGP  3.960​  3.800​  -0.16​  -4.04%​ 	Westfield Corporation	 WFD  9.730​  9.580​  -0.15​  -1.54%​ 




*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector. 

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 03 July 2015, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 03 July 2015. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The table figures for SCG and WFD are based on the proposal issued 4 December 2013. The issued shares are correct but the Earnings and Distributions are based on the December proposal for 2014 forecast earnings. These figures will be adjusted probably when the December figures are released in early 2016. 

*5.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*6.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (13 September 2015)

*A-REIT Sector:  Weekending Friday 11 September 2015 *


The volatility rolls on. The opportunities come and go and the sector seems to be finding support at these levels. Possibly a combination of the Aud$ finding support around the US$0.70 level and the high yield drawing in some foreign investors.    




The *A-REIT Table* for closing prices for Weekending * 11 September  2015 * follows:


	Code	 *	Closing Price	* 		Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Premium to NTA		           ABP  *	3.080	*​  1,703,770,237​  0.2424​  7.87%​  0.1697​  * 5.51%​ *  12.71​  2.42​  27.27%​  BWP  *	3.040	*​  1,952,846,761​  0.3155​  10.38%​  0.1577​  * 5.19%​ *  9.64​  2.18​  39.45%​  CHC  *	4.390	*​  1,785,930,388​  0.2762​  6.29%​  0.2420​  * 5.51%​ *  15.89​  2.38​  84.45%​  CQR  *	3.920	*​  1,472,173,146​  0.4066​  10.37%​  0.2750​  * 7.02%​ *  9.64​  3.52​  11.36%​  CMW  *	0.990	*​  1,722,361,705​  0.1052​  10.63%​  0.0786​  * 7.94%​ *  9.41​  0.74​  33.78%​  DXS  *	7.360	*​  7,145,134,729​  0.4227​  5.74%​  0.4104​  * 5.58%​ *  17.41​  6.47​  13.76%​  FDC  *	2.690	*​  10,648,770,211​  0.3063​  11.39%​  0.1730​  * 6.43%​ *  8.78​  2.44​  10.25%​  GMG  *	5.740	*​  10,062,426,192​  0.5836​  10.17%​  0.2220​  * 3.87%​ *  9.84​  3.15​  82.22%​ 	GOZ	 *	3.130	*​  1,781,056,955​  0.2570​  8.21%​  0.1970​  * 6.29%​ *  12.18​  2.16​  44.91%​  GPT  *	4.490	*​  7,981,330,074​  0.3827​  8.52%​  0.2170​  * 4.83%​ *  11.73​  3.94​  13.96%​  IOF  *	3.760	*​  2,308,818,442​  0.3698​  9.84%​  0.1925​  * 5.12%​ *  10.17​  3.42​  9.94%​  MGR  *	1.725	*​  6,380,177,538​  0.1305​  7.57%​  0.0940​  * 5.45%​ *  13.22​  1.69​  2.07%​ 	NSR	 *	1.525	*​  510,046,024​  0.0320​  2.10%​  0.0820​  * 5.38%​ *  47.66​  0.01​  15150.00%​  SCP  *	1.920	*​  1,385,258,003​  0.2570​  13.39%​  0.1140​  * 5.94%​ *  7.47​  1.73​  10.98%​  SCG  *	3.750	*​  19,966,112,543​  0.2150​  5.73%​  0.2150​  * 5.73%​ *  17.44​  3.04​  23.36%​  SGP  *	3.850	*​  9,092,613,769​  0.2966​  7.70%​  0.2400​  * 6.23%​ *  12.98​  3.53​  9.07%​  WFD  *	9.630	*​  20,012,003,676​  0.4380​  4.55%​  0.1585​  * 1.65%​ *  21.99​  4.54​  112.11%​ 



*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		04-Sep-15				11-Sep-15		  	Abacus Property	 ABP  3.060​  3.080​  0.02​  0.65%​ 	BWP Trust	 BWP  3.040​  3.040​  0.00​  0.00%​ 	Charter Hall	 CHC  4.270​  4.390​  0.12​  2.81%​ 	Charter Hall Retail	 CQR  3.950​  3.920​  -0.03​  -0.76%​ 	Cromwell	 CMW  0.995​  0.990​  -0.01​  -0.50%​ 	Dexus	 DXS  7.320​  7.360​  0.04​  0.55%​ 	Federation Centres	 FDC  2.750​  2.690​  -0.06​  *	-2.18%	*​ 	Goodman Group	 GMG  5.780​  5.740​  -0.04​  -0.69%​ 	Growthpoint Properties		GOZ	 3.140​  3.130​  -0.01​  -0.32%​ 	GPT Group	 GPT  4.320​  4.490​  0.17​  *	3.94%	*​ 	Investa Office	 IOF  3.800​  3.760​  -0.04​  -1.05%​ 	Mirvac Group	 MGR  1.710​  1.725​  0.02​  0.88%​ 	National Storage		NSR	 1.480​  1.525​  0.04​  3.04%​ 	SCA Property Group	 SCP  1.900​  1.920​  0.02​  1.05%​ 	Scentre Group	 SCG  3.740​  3.750​  0.01​  0.27%​ 	Stockland Property	 SGP  3.800​  3.850​  0.05​  1.32%​ 	Westfield Corporation	 WFD  9.580​  9.630​  0.05​  0.52%​ 




*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector. 

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 03 July 2015, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 03 July 2015. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The table figures for SCG and WFD are based on the proposal issued 4 December 2013. The issued shares are correct but the Earnings and Distributions are based on the December proposal for 2014 forecast earnings. These figures will be adjusted probably when the December figures are released in early 2016. 

*5.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*6.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (20 September 2015)

*A-REIT Sector:  Weekending Friday 18 September 2015 *


If there weren't enough overseas factors throwing volatility into our market, we had to have a change of leadership and the local markets did a jig while the investors sorted out whether it was a good thing, a bad thing, or made little or no difference. 




The *A-REIT Table* for closing prices for Weekending * 18 September  2015 * follows:


	Code	 *	Closing Price	* 		Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Premium to NTA		           ABP  *	3.170	*​  1,753,555,731​  0.2424​  7.65%​  0.1697​  * 5.35%​ *  13.08​  2.42​  30.99%​  BWP  *	3.070	*​  1,972,118,275​  0.3155​  10.28%​  0.1577​  * 5.14%​ *  9.73​  2.18​  40.83%​  CHC  *	4.380	*​  1,781,862,209​  0.2762​  6.31%​  0.2420​  * 5.53%​ *  15.86​  2.38​  84.03%​  CQR  *	3.950	*​  1,483,439,777​  0.4066​  10.29%​  0.2750​  * 6.96%​ *  9.71​  3.52​  12.22%​  CMW  *	0.975	*​  1,696,265,316​  0.1052​  10.79%​  0.0786​  * 8.06%​ *  9.27​  0.74​  31.76%​  DXS  *	7.260	*​  7,048,054,094​  0.4227​  5.82%​  0.4104​  * 5.65%​ *  17.18​  6.47​  12.21%​  FDC  *	2.660	*​  10,530,010,692​  0.3063​  11.52%​  0.1730​  * 6.50%​ *  8.68​  2.44​  9.02%​  GMG  *	5.690	*​  9,974,774,396​  0.5836​  10.26%​  0.2220​  * 3.90%​ *  9.75​  3.15​  80.63%​ 	GOZ	 *	3.140	*​  1,786,747,232​  0.2570​  8.18%​  0.1970​  * 6.27%​ *  12.22​  2.16​  45.37%​  GPT  *	4.480	*​  7,963,554,283​  0.3827​  8.54%​  0.2170​  * 4.84%​ *  11.71​  3.94​  13.71%​  IOF  *	3.910	*​  2,400,925,561​  0.3698​  9.46%​  0.1925​  * 4.92%​ *  10.57​  3.42​  14.33%​  MGR  *	1.705	*​  6,306,204,465​  0.1305​  7.65%​  0.0940​  * 5.51%​ *  13.07​  1.69​  0.89%​ 	NSR	 *	1.610	*​  538,474,818​  0.0320​  1.99%​  0.0820​  * 5.09%​ *  50.31​  0.01​  16000.00%​  SCP  *	1.940	*​  1,399,687,773​  0.2570​  13.25%​  0.1140​  * 5.88%​ *  7.55​  1.73​  12.14%​  SCG  *	3.880	*​  20,658,271,111​  0.2150​  5.54%​  0.2150​  * 5.54%​ *  18.05​  3.04​  27.63%​  SGP  *	3.850	*​  9,092,613,769​  0.2966​  7.70%​  0.2400​  * 6.23%​ *  12.98​  3.53​  9.07%​  WFD  *	9.750	*​  20,261,374,439​  0.4380​  4.49%​  0.1585​  * 1.63%​ *  22.26​  4.54​  114.76%​ 



*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		11-Sep-15				18-Sep-15		  	Abacus Property	 ABP  3.080​  3.170​  0.09​  2.92%​ 	BWP Trust	 BWP  3.040​  3.070​  0.03​  0.99%​ 	Charter Hall	 CHC  4.390​  4.380​  -0.01​  -0.23%​ 	Charter Hall Retail	 CQR  3.920​  3.950​  0.03​  0.77%​ 	Cromwell	 CMW  0.990​  0.975​  -0.02​  *	-1.52%	*​ 	Dexus	 DXS  7.360​  7.260​  -0.10​  -1.36%​ 	Federation Centres	 FDC  2.690​  2.660​  -0.03​  -1.12%​ 	Goodman Group	 GMG  5.740​  5.690​  -0.05​  -0.87%​ 	Growthpoint Properties		GOZ	 3.130​  3.140​  0.01​  0.32%​ 	GPT Group	 GPT  4.490​  4.480​  -0.01​  -0.22%​ 	Investa Office	 IOF  3.760​  3.910​  0.15​  3.99%​ 	Mirvac Group	 MGR  1.725​  1.705​  -0.02​  -1.16%​ 	National Storage		NSR	 1.525​  1.610​  0.09​  *	5.57%	*​ 	SCA Property Group	 SCP  1.920​  1.940​  0.02​  1.04%​ 	Scentre Group	 SCG  3.750​  3.880​  0.13​  3.47%​ 	Stockland Property	 SGP  3.850​  3.850​  0.00​  0.00%​ 	Westfield Corporation	 WFD  9.630​  9.750​  0.12​  1.25%​ 




*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector. 

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 03 July 2015, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 03 July 2015. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The table figures for SCG and WFD are based on the proposal issued 4 December 2013. The issued shares are correct but the Earnings and Distributions are based on the December proposal for 2014 forecast earnings. These figures will be adjusted probably when the December figures are released in early 2016. 

*5.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*6.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (27 September 2015)

*A-REIT Sector:  Weekending Friday 25 September 2015 *


The volatility continues. The market impact of the leadership change settled down only to have Glen Stevens start jawboning about the slowing of our economy (seemingly in stark contrast to Malcolm Turnbull's confidence in the Aussie economy) and the likelihood of the official interest rates dropping to 1.5%. 

The Aud$, which had been clawing its' way back up to US$0.72, was pushed back down to US$0.70. Foreign investors in our share market are once again undecided as to whether now is a good time to invest in Australia or withdraw funds to follow the US economy. Smart money coming in and smart money going out. 

The All-Ords closed below 5000 for the first time in donkey's ages but managed to bounce up above 5000 before Fridays close. The A-REIT Sector continues to attract support at these levels due to the abundance of yields above 5% with potential capital gains (and losses). At the moment it's a bit like watching a flock of sheep being shepherded back and forth by the loudest barking dog.




The *A-REIT Table* for closing prices for Weekending * 25 September  2015 * follows:


	Code	 *	Closing Price	* 		Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Premium to NTA		           ABP  *	3.130	*​  1,731,428,845​  0.2424​  7.74%​  0.1697​  * 5.42%​ *  12.91​  2.42​  29.34%​  BWP  *	3.050	*​  1,959,270,599​  0.3155​  10.34%​  0.1577​  * 5.17%​ *  9.67​  2.18​  39.91%​  CHC  *	4.350	*​  1,769,657,674​  0.2762​  6.35%​  0.2420​  * 5.56%​ *  15.75​  2.38​  82.77%​  CQR  *	4.010	*​  1,505,973,040​  0.4066​  10.14%​  0.2750​  * 6.86%​ *  9.86​  3.52​  13.92%​  CMW  *	0.970	*​  1,687,566,519​  0.1052​  10.85%​  0.0786​  * 8.10%​ *  9.22​  0.74​  31.08%​  DXS  *	7.320	*​  7,106,302,475​  0.4227​  5.77%​  0.4104​  * 5.61%​ *  17.32​  6.47​  13.14%​  FDC  *	2.710	*​  10,727,943,224​  0.3063​  11.30%​  0.1730​  * 6.38%​ *  8.85​  2.44​  11.07%​  GMG  *	5.850	*​  10,255,260,144​  0.5836​  9.98%​  0.2220​  * 3.79%​ *  10.02​  3.15​  85.71%​ 	GOZ	 *	3.110	*​  1,769,676,399​  0.2570​  8.26%​  0.1970​  * 6.33%​ *  12.10​  2.16​  43.98%​  GPT  *	4.500	*​  7,999,105,865​  0.3827​  8.50%​  0.2170​  * 4.82%​ *  11.76​  3.94​  14.21%​  IOF  *	3.980	*​  2,443,908,883​  0.3698​  9.29%​  0.1925​  * 4.84%​ *  10.76​  3.42​  16.37%​  MGR  *	1.745	*​  6,454,150,611​  0.1305​  7.48%​  0.0940​  * 5.39%​ *  13.37​  1.69​  3.25%​ 	NSR	 *	1.530	*​  511,718,306​  0.0320​  2.09%​  0.0820​  * 5.36%​ *  47.81​  0.01​  15200.00%​  SCP  *	1.940	*​  1,399,687,773​  0.2570​  13.25%​  0.1140​  * 5.88%​ *  7.55​  1.73​  12.14%​  SCG  *	3.870	*​  20,605,028,144​  0.2150​  5.56%​  0.2150​  * 5.56%​ *  18.00​  3.04​  27.30%​  SGP  *	3.840	*​  9,068,996,590​  0.2966​  7.72%​  0.2400​  * 6.25%​ *  12.95​  3.53​  8.78%​  WFD  *	9.750	*​  20,261,374,439​  0.4380​  4.49%​  0.1585​  * 1.63%​ *  22.26​  4.54​  114.76%​ 



*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		18-Sep-15				25-Sep-15		  	Abacus Property	 ABP  3.170​  3.130​  -0.04​  -1.26%​ 	BWP Trust	 BWP  3.070​  3.050​  -0.02​  -0.65%​ 	Charter Hall	 CHC  4.380​  4.350​  -0.03​  -0.68%​ 	Charter Hall Retail	 CQR  3.950​  4.010​  0.06​  1.52%​ 	Cromwell	 CMW  0.975​  0.970​  -0.01​  -0.51%​ 	Dexus	 DXS  7.260​  7.320​  0.06​  0.83%​ 	Federation Centres	 FDC  2.660​  2.710​  0.05​  1.88%​ 	Goodman Group	 GMG  5.690​  5.850​  0.16​  *	2.81%	*​ 	Growthpoint Properties		GOZ	 3.140​  3.110​  -0.03​  -0.96%​ 	GPT Group	 GPT  4.480​  4.500​  0.02​  0.45%​ 	Investa Office	 IOF  3.910​  3.980​  0.07​  1.79%​ 	Mirvac Group	 MGR  1.705​  1.745​  0.04​  2.35%​ 	National Storage		NSR	 1.610​  1.530​  -0.08​  *	-4.97%	*​ 	SCA Property Group	 SCP  1.940​  1.940​  0.00​  0.00%​ 	Scentre Group	 SCG  3.880​  3.870​  -0.01​  -0.26%​ 	Stockland Property	 SGP  3.850​  3.840​  -0.01​  -0.26%​ 	Westfield Corporation	 WFD  9.750​  9.750​  0.00​  0.00%​ 




*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector. 

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 03 July 2015, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 03 July 2015. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The table figures for SCG and WFD are based on the proposal issued 4 December 2013. The issued shares are correct but the Earnings and Distributions are based on the December proposal for 2014 forecast earnings. These figures will be adjusted probably when the December figures are released in early 2016. 

*5.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*6.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (4 October 2015)

*A-REIT Sector:  Weekending Friday 02 October 2015 *


It is interesting to note that while the All Ords appears to be finding support around the 5000 mark, the highs are still getting lower and each of the recent downward pushes have reached new lows. 




Yet while this softness of the overall market is being tested the A-REIT sector appears to be consolidating in a sideways drift, attempting to break out of the downward channel. The international market swings continue to impact on our local markets providing plenty of short term opportunities for those with the appetite for risk.  





The *A-REIT Table* for closing prices for Weekending * 02 October 2015 * follows:


	Code	 *	Closing Price	* 		Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Premium to NTA		           ABP  *	3.200	*​  1,770,150,896​  0.2424​  7.58%​  0.1697​  * 5.30%​ *  13.20​  2.42​  32.23%​  BWP  *	3.080	*​  1,978,542,113​  0.3155​  10.24%​  0.1577​  * 5.12%​ *  9.76​  2.18​  41.28%​  CHC  *	4.320	*​  1,757,453,138​  0.2762​  6.39%​  0.2420​  * 5.60%​ *  15.64​  2.38​  81.51%​  CQR  *	4.070	*​  1,528,506,302​  0.4066​  9.99%​  0.2750​  * 6.76%​ *  10.01​  3.52​  15.63%​  CMW  *	0.960	*​  1,670,168,926​  0.1052​  10.96%​  0.0786​  * 8.19%​ *  9.13​  0.74​  29.73%​  DXS  *	7.180	*​  6,970,389,586​  0.4227​  5.89%​  0.4104​  * 5.72%​ *  16.99​  6.47​  10.97%​  FDC  *	2.760	*​  10,925,875,755​  0.3063​  11.10%​  0.1730​  * 6.27%​ *  9.01​  2.44​  13.11%​  GMG  *	5.850	*​  10,255,260,144​  0.5836​  9.98%​  0.2220​  * 3.79%​ *  10.02​  3.15​  85.71%​ 	GOZ	 *	3.110	*​  1,769,676,399​  0.2570​  8.26%​  0.1970​  * 6.33%​ *  12.10​  2.16​  43.98%​  GPT  *	4.570	*​  8,123,536,400​  0.3827​  8.37%​  0.2170​  * 4.75%​ *  11.94​  3.94​  15.99%​  IOF  *	3.900	*​  2,394,785,086​  0.3698​  9.48%​  0.1925​  * 4.94%​ *  10.55​  3.42​  14.04%​  MGR  *	1.730	*​  6,398,670,806​  0.1305​  7.54%​  0.0940​  * 5.43%​ *  13.26​  1.69​  2.37%​ 	NSR	 *	1.485	*​  496,667,767​  0.0320​  2.15%​  0.0820​  * 5.52%​ *  46.41​  0.01​  14750.00%​  SCP  *	1.955	*​  1,410,510,102​  0.2570​  13.15%​  0.1140​  * 5.83%​ *  7.61​  1.73​  13.01%​  SCG  *	3.930	*​  20,924,485,945​  0.2150​  5.47%​  0.2150​  * 5.47%​ *  18.28​  3.04​  29.28%​  SGP  *	3.870	*​  9,139,848,126​  0.2966​  7.66%​  0.2400​  * 6.20%​ *  13.05​  3.53​  9.63%​  WFD  *	9.970	*​  20,718,554,169​  0.4380​  4.39%​  0.1585​  * 1.59%​ *  22.76​  4.54​  119.60%​ 



*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		25-Sep-15				02-Oct-15		  	Abacus Property	 ABP  3.130​  3.200​  0.07​  2.24%​ 	BWP Trust	 BWP  3.050​  3.080​  0.03​  0.98%​ 	Charter Hall	 CHC  4.350​  4.320​  -0.03​  -0.69%​ 	Charter Hall Retail	 CQR  4.010​  4.070​  0.06​  1.50%​ 	Cromwell	 CMW  0.970​  0.960​  -0.01​  -1.03%​ 	Dexus	 DXS  7.320​  7.180​  -0.14​  -1.91%​ 	Federation Centres	 FDC  2.710​  2.760​  0.05​  1.85%​ 	Goodman Group	 GMG  5.850​  5.850​  0.00​  0.00%​ 	Growthpoint Properties		GOZ	 3.110​  3.110​  0.00​  0.00%​ 	GPT Group	 GPT  4.500​  4.570​  0.07​  1.56%​ 	Investa Office	 IOF  3.980​  3.900​  -0.08​  -2.01%​ 	Mirvac Group	 MGR  1.745​  1.730​  -0.02​  -0.86%​ 	National Storage		NSR	 1.530​  1.485​  -0.04​  *	-2.94%	*​ 	SCA Property Group	 SCP  1.940​  1.955​  0.02​  0.77%​ 	Scentre Group	 SCG  3.870​  3.930​  0.06​  1.55%​ 	Stockland Property	 SGP  3.840​  3.870​  0.03​  0.78%​ 	Westfield Corporation	 WFD  9.750​  9.970​  0.22​  *	2.26%	*​ 




*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector. 

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 03 July 2015, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 03 July 2015. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The table figures for SCG and WFD are based on the proposal issued 4 December 2013. The issued shares are correct but the Earnings and Distributions are based on the December proposal for 2014 forecast earnings. These figures will be adjusted probably when the December figures are released in early 2016. 

*5.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*6.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (11 October 2015)

*A-REIT Sector:  Weekending Friday 09 October 2015 *


Apparently last week was the best week for the All-Ords since 2011. The All-Ords definitely picked up but the A-REIT struggled to hold the gains of the previous week let alone improve on them. Lots of positive news, changes in management structure, refinancing, share buy backs etc and apparently some portfolio reweighting all pushing the prices around.  The A-REIT sector appears to be consolidating more sideways now than downwards, still trying to break out of the downward channel. 




The *A-REIT Table* for closing prices for Weekending * 09 October 2015 * follows:


	Code	 *	Closing Price	* 		Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Premium to NTA		           ABP  *	3.290	*​  1,819,936,390​  0.2424​  7.37%​  0.1697​  * 5.16%​ *  13.57​  2.42​  35.95%​  BWP  *	3.090	*​  1,984,965,951​  0.3155​  10.21%​  0.1577​  * 5.10%​ *  9.79​  2.18​  41.74%​  CHC  *	4.340	*​  1,765,589,495​  0.2762​  6.36%​  0.2420​  * 5.58%​ *  15.71​  2.38​  82.35%​  CQR  *	4.080	*​  1,532,261,846​  0.4066​  9.97%​  0.2750​  * 6.74%​ *  10.03​  3.52​  15.91%​  CMW  *	0.970	*​  1,687,566,519​  0.1052​  10.85%​  0.0786​  * 8.10%​ *  9.22​  0.74​  31.08%​  DXS  *	7.370	*​  7,154,842,792​  0.4227​  5.74%​  0.4104​  * 5.57%​ *  17.44​  6.47​  13.91%​  FDC  *	2.770	*​  10,965,462,262​  0.3063​  11.06%​  0.1730​  * 6.25%​ *  9.04​  2.44​  13.52%​  GMG  *	5.870	*​  10,290,320,862​  0.5836​  9.94%​  0.2220​  * 3.78%​ *  10.06​  3.15​  86.35%​ 	GOZ	 *	3.120	*​  1,775,366,677​  0.2570​  8.24%​  0.1970​  * 6.31%​ *  12.14​  2.16​  44.44%​  GPT  *	4.620	*​  8,212,415,354​  0.3827​  8.28%​  0.2170​  * 4.70%​ *  12.07​  3.94​  17.26%​  IOF  *	3.950	*​  2,425,487,459​  0.3698​  9.36%​  0.1925​  * 4.87%​ *  10.68​  3.42​  15.50%​  MGR  *	1.730	*​  6,398,670,806​  0.1305​  7.54%​  0.0940​  * 5.43%​ *  13.26​  1.69​  2.37%​ 	NSR	 *	1.500	*​  501,684,614​  0.0320​  2.13%​  0.0820​  * 5.47%​ *  46.88​  0.01​  14900.00%​  SCP  *	1.955	*​  1,410,510,102​  0.2570​  13.15%​  0.1140​  * 5.83%​ *  7.61​  1.73​  13.01%​  SCG  *	3.970	*​  21,137,457,812​  0.2150​  5.42%​  0.2150​  * 5.42%​ *  18.47​  3.04​  30.59%​  SGP  *	3.860	*​  9,116,230,947​  0.2966​  7.68%​  0.2400​  * 6.22%​ *  13.01​  3.53​  9.35%​  WFD  *	10.000	*​  20,780,896,860​  0.4380​  4.38%​  0.1585​  * 1.59%​ *  22.83​  4.54​  120.26%​ 



*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		02-Oct-15				09-Oct-15		  	Abacus Property	 ABP  3.200​  3.290​  0.09​  *	2.81%	*​ 	BWP Trust	 BWP  3.080​  3.090​  0.01​  0.32%​ 	Charter Hall	 CHC  4.320​  4.340​  0.02​  0.46%​ 	Charter Hall Retail	 CQR  4.070​  4.080​  0.01​  0.25%​ 	Cromwell	 CMW  0.960​  0.970​  0.01​  1.04%​ 	Dexus	 DXS  7.180​  7.370​  0.19​  2.65%​ 	Federation Centres	 FDC  2.760​  2.770​  0.01​  0.36%​ 	Goodman Group	 GMG  5.850​  5.870​  0.02​  0.34%​ 	Growthpoint Properties		GOZ	 3.110​  3.120​  0.01​  0.32%​ 	GPT Group	 GPT  4.570​  4.620​  0.05​  1.09%​ 	Investa Office	 IOF  3.900​  3.950​  0.05​  1.28%​ 	Mirvac Group	 MGR  1.730​  1.730​  0.00​  0.00%​ 	National Storage		NSR	 1.485​  1.500​  0.01​  1.01%​ 	SCA Property Group	 SCP  1.955​  1.955​  0.00​  0.00%​ 	Scentre Group	 SCG  3.930​  3.970​  0.04​  1.02%​ 	Stockland Property	 SGP  3.870​  3.860​  -0.01​  *	-0.26%	*​ 	Westfield Corporation	 WFD  9.970​  10.000​  0.03​  0.30%​ 



*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector. 

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 03 July 2015, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 03 July 2015. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The table figures for SCG and WFD are based on the proposal issued 4 December 2013. The issued shares are correct but the Earnings and Distributions are based on the December proposal for 2014 forecast earnings. These figures will be adjusted probably when the December figures are released in early 2016. 

*5.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*6.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## Bill M (12 October 2015)

Hi nulla, thanks for all your work on this thread, I'm sure many like I read it.

I did a quick calculation on the ETF SLF (Current price is $11.45). For this year, the distributions for SLF amounts up to 3.75% cash. There will probably be some tax deferred amounts as well as some franking that is not imputed into that 3.75% but in the end the cash distribution appears to be a little low.

It is also interesting to note that the index itself is still 50% down from the 2007 highs.

Seeing as SLF is paying such low distributions my question is that if you were to cherry pick a REIT out of the index for a better return, which one would you choose and why?

Also, in your opinion, where do you think the REIT index is heading? With such low cash returns I just can't see it heading up much higher in the near future.

It's certainly not like it use to be, I remember pulling 7 to 10% returns in distributions alone from some listed property trusts prior to the 2007 highs. Just wondering as it was a sector I was investing in quite a bit in the past, cheers.


----------



## nulla nulla (15 October 2015)

Bill M said:


> ........ my question is that if you were to cherry pick a REIT out of the index for a better return, which one would you choose and why?.





At this point in time, if you were looking to buy and hold for a consistent income stream above bank interest rates or your ETF returning 3.25% p.a,  you could pick among most of the A-REIT's returning 5% plus. However they have been getting cheaper and it is possible they will get cheaper still.



Bill M said:


> Also, in your opinion, where do you think the REIT index is heading? With such low cash returns I just can't see it heading up much higher in the near future.




With all the jawboning of residential property markets being overvalued and the banks being opportunistic to profiteer from domestic property investors (charging higher interest rates) it is likely that domestic property prices will rise at a slower rate. The jawboning is unlikely to impact house prices in Sydney and Melbourne where demand under pins the price rises. 

Unfortunately the domestic jawboning also impacts on commercial property prices which in turn impacts on A-REIT share prices. Great if you trade the volatility not so great if you are a buy and hold investor. I don't see the sector returning to the recent highs in the immediate short term. Long term I believe there is still potential for growth across the sector.


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## Bill M (15 October 2015)

Thanks nulla nulla, I agree that picking a couple good REIT's out of the index will probably give me better returns.

I made a mistake re: SLF distributions (fat fingers). In fact the SLF cash distributions for this year = around 4.5% which is not as bad as it looked originally.

I also worked out Vanguards (VAP) ETF and the cash distributions work out at around 4.8%.

I will be watching this sector closely, I realise times have changed and it's much harder to get decent passive returns.

I am in pension phase with my super, I am doing the minimum drawdown which is 4%. My challenge is finding anything paying more than 4% distributions. REIT's will help, I can get some income to cover the drawdown plus I might get some capital growth as well. 

Thanks again for your opinion.


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## nulla nulla (18 October 2015)

For Three (3) days the A-REIT Sector retraced from the previous weeks close then on Thursday/Friday the A-REIT Sector suddenly finds enough support to reverse the retrace and finish off the week higher than the previous week. Go figure. 

The A-REIT sector appears to be still trying to break out of the downward channel. Conflicting reports, domestic property bubble collapsing, Westpac increasing domestic interest rates, Commonwealth Bank suggesting there will be a surplus of offices for rent, Glenn Stevens proposing to reduce interest rates, China's growth rate slowing, the Greeks even further in debt, the US deciding to linger in Afghanistan, Syrian refugees invading the European member countries, etc, etc, etc. More volatility.




The *A-REIT Table* for closing prices for Weekending * 16 October 2015 * follows:


	Code	 *	Closing Price	* 		Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Premium to NTA		           ABP  *	3.210	*​  1,775,682,618​  0.2424​  7.55%​  0.1697​  * 5.29%​ *  13.24​  2.42​  32.64%​  BWP  *	3.100	*​  1,991,389,789​  0.3155​  10.18%​  0.1577​  * 5.09%​ *  9.83​  2.18​  42.20%​  CHC  *	4.330	*​  1,761,521,316​  0.2762​  6.38%​  0.2420​  * 5.59%​ *  15.68​  2.38​  81.93%​  CQR  *	4.080	*​  1,532,261,846​  0.4066​  9.97%​  0.2750​  * 6.74%​ *  10.03​  3.52​  15.91%​  CMW  *	0.980	*​  1,704,964,112​  0.1052​  10.73%​  0.0786​  * 8.02%​ *  9.32​  0.74​  32.43%​  DXS  *	7.440	*​  7,222,799,237​  0.4227​  5.68%​  0.4104​  * 5.52%​ *  17.60​  6.47​  14.99%​  FDC  *	2.830	*​  11,202,981,300​  0.3063​  10.82%​  0.1730​  * 6.11%​ *  9.24​  2.44​  15.98%​  GMG  *	5.920	*​  10,377,972,658​  0.5836​  9.86%​  0.2220​  * 3.75%​ *  10.14​  3.15​  87.94%​ 	GOZ	 *	3.010	*​  1,712,773,621​  0.2570​  8.54%​  0.1970​  * 6.54%​ *  11.71​  2.16​  39.35%​  GPT  *	4.680	*​  8,319,070,099​  0.3827​  8.18%​  0.2170​  * 4.64%​ *  12.23​  3.94​  18.78%​  IOF  *	3.940	*​  2,419,346,985​  0.3698​  9.39%​  0.1925​  * 4.89%​ *  10.65​  3.42​  15.20%​  MGR  *	1.750	*​  6,472,643,879​  0.1305​  7.46%​  0.0940​  * 5.37%​ *  13.41​  1.69​  3.55%​ 	NSR	 *	1.500	*​  501,684,614​  0.0320​  2.13%​  0.0820​  * 5.47%​ *  46.88​  0.01​  14900.00%​  SCP  *	1.960	*​  1,414,117,544​  0.2570​  13.11%​  0.1140​  * 5.82%​ *  7.63​  1.73​  13.29%​  SCG  *	4.010	*​  21,350,429,679​  0.2150​  5.36%​  0.2150​  * 5.36%​ *  18.65​  3.04​  31.91%​  SGP  *	3.890	*​  9,187,082,483​  0.2966​  7.62%​  0.2400​  * 6.17%​ *  13.12​  3.53​  10.20%​  WFD  *	10.140	*​  21,071,829,416​  0.4380​  4.32%​  0.1585​  * 1.56%​ *  23.15​  4.54​  123.35%​ 



*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		09-Oct-15				16-Oct-15		  	Abacus Property	 ABP  3.290​  3.210​  -0.08​  -2.43%​ 	BWP Trust	 BWP  3.090​  3.100​  0.01​  0.32%​ 	Charter Hall	 CHC  4.340​  4.330​  -0.01​  -0.23%​ 	Charter Hall Retail	 CQR  4.080​  4.080​  0.00​  0.00%​ 	Cromwell	 CMW  0.970​  0.980​  0.01​  1.03%​ 	Dexus	 DXS  7.370​  7.440​  0.07​  0.95%​ 	Federation Centres	 FDC  2.770​  2.830​  0.06​  *	2.17%	*​ 	Goodman Group	 GMG  5.870​  5.920​  0.05​  0.85%​ 	Growthpoint Properties		GOZ	 3.120​  3.010​  -0.11​  *	-3.53%	*​ 	GPT Group	 GPT  4.620​  4.680​  0.06​  1.30%​ 	Investa Office	 IOF  3.950​  3.940​  -0.01​  -0.25%​ 	Mirvac Group	 MGR  1.730​  1.750​  0.02​  1.16%​ 	National Storage		NSR	 1.500​  1.500​  0.00​  0.00%​ 	SCA Property Group	 SCP  1.955​  1.960​  0.00​  0.26%​ 	Scentre Group	 SCG  3.970​  4.010​  0.04​  1.01%​ 	Stockland Property	 SGP  3.860​  3.890​  0.03​  0.78%​ 	Westfield Corporation	 WFD  10.000​  10.140​  0.14​  1.40%​ 




*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector. 

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 03 July 2015, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 03 July 2015. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The table figures for SCG and WFD are based on the proposal issued 4 December 2013. The issued shares are correct but the Earnings and Distributions are based on the December proposal for 2014 forecast earnings. These figures will be adjusted probably when the December figures are released in early 2016. 

*5.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*6.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (25 October 2015)

*A-REIT Sector:  Weekending Friday 23 October 2015 *


For now the A-REIT sector appears to have broken out of the downward channel.  Last weeks news, global and local was upbeat. The CBA, ANZ and NAB have all followed the lead from Westpac and upped the home loan interest rates including owner occupied dwellings. China, while tightening up on corruption, appears to be moving toward stimulating investments with a view to propping up their economic growth rate. Investors around the world are optimistic again (last week) and shorters are probably nervous. This week will be interesting, particularly if the local market follows the lead from the Dow on Friday.





The *A-REIT Table* for closing prices for Weekending * 23 October 2015 * follows:


	Code	 *	Closing Price	* 		Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Premium to NTA		           ABP  *	3.230	*​  1,788,910,199​  0.2546​  7.88%​  0.1697​  * 5.25%​ *  12.69​  2.49​  29.72%​  BWP  *	3.190	*​  2,049,204,332​  0.3284​  10.29%​  0.1577​  * 4.94%​ *  9.71​  2.24​  42.41%​  CHC  *	4.430	*​  1,812,593,379​  0.3280​  7.40%​  0.2420​  * 5.46%​ *  13.51​  2.76​  60.51%​  CQR  *	4.150	*​  1,622,846,038​  0.4355​  10.49%​  0.2750​  * 6.63%​ *  9.53​  3.59​  15.60%​  CMW  *	1.000	*​  1,744,687,417​  0.0858​  8.58%​  0.0791​  * 7.91%​ *  11.66​  0.65​  53.85%​  DXS  *	7.730	*​  7,497,277,026​  0.6758​  8.74%​  0.4104​  * 5.31%​ *  11.44​  6.68​  15.72%​  FDC  *	2.900	*​  11,480,086,844​  0.2556​  8.81%​  0.1690​  * 5.83%​ *  11.35​  2.45​  18.37%​  GMG  *	6.000	*​  10,620,589,884​  0.6920​  11.53%​  0.2220​  * 3.70%​ *  8.67​  3.46​  73.41%​ 	GOZ	 *	3.100	*​  1,764,811,016​  0.2570​  8.29%​  0.1970​  * 6.35%​ *  12.06​  2.16​  43.52%​  GPT  *	4.740	*​  8,507,430,347​  0.4875​  10.28%​  0.2170​  * 4.58%​ *  9.72​  4.03​  17.62%​  IOF  *	4.000	*​  2,456,189,832​  0.2920​  7.30%​  0.1925​  * 4.81%​ *  13.70​  3.62​  10.50%​  MGR  *	1.790	*​  6,625,135,742​  0.1651​  9.22%​  0.0940​  * 5.25%​ *  10.84​  1.74​  2.87%​ 	NSR	 *	1.515	*​  506,701,460​  -0.0045​  -0.30%​  0.0820​  * 5.41%​ *  -336.67​  1.11​  36.49%​  SCP  *	2.000	*​  1,449,734,184​  0.2290​  11.45%​  0.1140​  * 5.70%​ *  8.73​  1.77​  12.99%​  SCG  *	4.120	*​  21,936,102,313​  0.4448​  10.80%​  0.2065​  * 5.01%​ *  9.26​  3.11​  32.48%​  SGP  *	3.960	*​  9,414,972,159​  0.3850​  9.72%​  0.2400​  * 6.06%​ *  10.29​  3.68​  7.61%​  WFD  *	10.180	*​  21,154,953,003​  0.5427​  5.33%​  0.3285​  * 3.23%​ *  18.76​  4.99​  104.01%​ 



*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		16-Oct-15				23-Oct-15		  	Abacus Property	 ABP  3.210​  3.230​  0.02​  0.62%​ 	BWP Trust	 BWP  3.100​  3.190​  0.09​  2.90%​ 	Charter Hall	 CHC  4.330​  4.430​  0.10​  2.31%​ 	Charter Hall Retail	 CQR  4.080​  4.150​  0.07​  1.72%​ 	Cromwell	 CMW  0.980​  1.000​  0.02​  2.04%​ 	Dexus	 DXS  7.440​  7.730​  0.29​  *	3.90%	*​ 	Federation Centres	 FDC  2.830​  2.900​  0.07​  2.47%​ 	Goodman Group	 GMG  5.920​  6.000​  0.08​  1.35%​ 	Growthpoint Properties		GOZ	 3.010​  3.100​  0.09​  2.99%​ 	GPT Group	 GPT  4.680​  4.740​  0.06​  1.28%​ 	Investa Office	 IOF  3.940​  4.000​  0.06​  1.52%​ 	Mirvac Group	 MGR  1.750​  1.790​  0.04​  2.29%​ 	National Storage		NSR	 1.500​  1.515​  0.01​  1.00%​ 	SCA Property Group	 SCP  1.960​  2.000​  0.04​  2.04%​ 	Scentre Group	 SCG  4.010​  4.120​  0.11​  2.74%​ 	Stockland Property	 SGP  3.890​  3.960​  0.07​  1.80%​ 	Westfield Corporation	 WFD  10.140​  10.180​  0.04​  0.39%​ 




*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector. 

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 23 October 2015, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 23 October 2015. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.


*4.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*5.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (1 November 2015)

*A-REIT Sector:  Weekending Friday 30 October 2015 *


Another good week for the A-REIT sector with further small gains maintaining the lift away from the downward channel.   





The *A-REIT Table* for closing prices for Weekending * 30 October 2015 * follows:


	Code	 *	Closing Price	* 		Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Premium to NTA		           ABP  *	3.270	*​  1,811,063,886​  0.2546​  7.79%​  0.1697​  * 5.19%​ *  12.84​  2.49​  31.33%​  BWP  *	3.220	*​  2,068,475,846​  0.3284​  10.20%​  0.1577​  * 4.90%​ *  9.81​  2.24​  43.75%​  CHC  *	4.490	*​  1,837,143,177​  0.3280​  7.31%​  0.2420​  * 5.39%​ *  13.69​  2.76​  62.68%​  CQR  *	4.240	*​  1,658,040,289​  0.4355​  10.27%​  0.2750​  * 6.49%​ *  9.74​  3.59​  18.11%​  CMW  *	1.005	*​  1,753,410,854​  0.0858​  8.54%​  0.0791​  * 7.87%​ *  11.71​  0.65​  54.62%​  DXS  *	7.740	*​  7,506,975,961​  0.6758​  8.73%​  0.4104​  * 5.30%​ *  11.45​  6.68​  15.87%​  FDC  *	2.910	*​  11,519,673,351​  0.2556​  8.78%​  0.1690​  * 5.81%​ *  11.38​  2.45​  18.78%​  GMG  *	6.070	*​  10,744,496,766​  0.6920​  11.40%​  0.2220​  * 3.66%​ *  8.77​  3.46​  75.43%​ 	GOZ	 *	3.080	*​  1,753,425,138​  0.2570​  8.34%​  0.1970​  * 6.40%​ *  11.98​  2.16​  42.59%​  GPT  *	4.770	*​  8,561,274,843​  0.4875​  10.22%​  0.2170​  * 4.55%​ *  9.78​  4.03​  18.36%​  IOF  *	4.040	*​  2,480,751,730​  0.2920​  7.23%​  0.1925​  * 4.76%​ *  13.84​  3.62​  11.60%​  MGR  *	1.805	*​  6,680,653,639​  0.1651​  9.15%​  0.0940​  * 5.21%​ *  10.93​  1.74​  3.74%​ 	NSR	 *	1.575	*​  526,768,844​  -0.0045​  -0.29%​  0.0820​  * 5.21%​ *  -350.00​  1.11​  41.89%​  SCP  *	2.060	*​  1,493,226,210​  0.2290​  11.12%​  0.1140​  * 5.53%​ *  9.00​  1.77​  16.38%​  SCG  *	4.140	*​  22,042,588,247​  0.4448​  10.74%​  0.2065​  * 4.99%​ *  9.31​  3.11​  33.12%​  SGP  *	4.050	*​  9,628,948,799​  0.3850​  9.51%​  0.2400​  * 5.93%​ *  10.52​  3.68​  10.05%​  WFD  *	10.250	*​  21,300,419,282​  0.5427​  5.29%​  0.3285​  * 3.20%​ *  18.89​  4.99​  105.41%​ 



*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		23-Oct-15				30-Oct-15		  	Abacus Property	 ABP  3.230​  3.270​  0.04​  1.24%​ 	BWP Trust	 BWP  3.190​  3.220​  0.03​  0.94%​ 	Charter Hall	 CHC  4.430​  4.490​  0.06​  1.35%​ 	Charter Hall Retail	 CQR  4.150​  4.240​  0.09​  2.17%​ 	Cromwell	 CMW  1.000​  1.005​  0.00​  0.50%​ 	Dexus	 DXS  7.730​  7.740​  0.01​  0.13%​ 	Federation Centres	 FDC  2.900​  2.910​  0.01​  0.34%​ 	Goodman Group	 GMG  6.000​  6.070​  0.07​  1.17%​ 	Growthpoint Properties		GOZ	 3.100​  3.080​  -0.02​  -0.65%​ 	GPT Group	 GPT  4.740​  4.770​  0.03​  0.63%​ 	Investa Office	 IOF  4.000​  4.040​  0.04​  1.00%​ 	Mirvac Group	 MGR  1.790​  1.805​  0.01​  0.84%​ 	National Storage		NSR	 1.515​  1.575​  0.06​  *	3.96%	*​ 	SCA Property Group	 SCP  2.000​  2.060​  0.06​  3.00%​ 	Scentre Group	 SCG  4.120​  4.140​  0.02​  0.49%​ 	Stockland Property	 SGP  3.960​  4.050​  0.09​  2.27%​ 	Westfield Corporation	 WFD  10.180​  10.250​  0.07​  0.69%​ 




*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector. 

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 23 October 2015, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 23 October 2015. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.


*4.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*5.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (8 November 2015)

*A-REIT Sector:  Weekending Friday 06 November 2015 *


Another volatile week for the A-REIT sector. Small gains overall but good swings between the highs and lows through the week for those with an appetite for risk. 




The *A-REIT Table* for closing prices for Weekending * 06 November 2015 * follows:


	Code	 *	Closing Price	* 		Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Premium to NTA		           ABP  *	3.160	*​  1,750,141,248​  0.2546​  8.06%​  0.1697​  * 5.37%​ *  12.41​  2.49​  26.91%​  BWP  *	3.260	*​  2,094,171,198​  0.3284​  10.07%​  0.1577​  * 4.84%​ *  9.93​  2.24​  45.54%​  CHC  *	4.530	*​  1,853,509,708​  0.3280​  7.24%​  0.2420​  * 5.34%​ *  13.81​  2.76​  64.13%​  CQR  *	4.140	*​  1,618,935,565​  0.4355​  10.52%​  0.2750​  * 6.64%​ *  9.51​  3.59​  15.32%​  CMW  *	1.015	*​  1,770,857,728​  0.0858​  8.45%​  0.0791​  * 7.79%​ *  11.83​  0.65​  56.15%​  DXS  *	7.730	*​  7,497,277,026​  0.6758​  8.74%​  0.4104​  * 5.31%​ *  11.44​  6.68​  15.72%​  GMG  *	6.150	*​  10,886,104,631​  0.6920​  11.25%​  0.2220​  * 3.61%​ *  8.89​  3.46​  77.75%​ 	GOZ	 *	3.080	*​  1,753,425,138​  0.2570​  8.34%​  0.1970​  * 6.40%​ *  11.98​  2.16​  42.59%​  GPT  *	4.700	*​  8,435,637,686​  0.4875​  10.37%​  0.2170​  * 4.62%​ *  9.64​  4.03​  16.63%​  IOF  *	3.980	*​  2,443,908,883​  0.2920​  7.34%​  0.1925​  * 4.84%​ *  13.63​  3.62​  9.94%​  MGR  *	1.805	*​  6,680,653,639​  0.1651​  9.15%​  0.0940​  * 5.21%​ *  10.93​  1.74​  3.74%​ 	NSR	 *	1.590	*​  531,785,690​  -0.0045​  -0.28%​  0.0820​  * 5.16%​ *  -353.33​  1.11​  43.24%​  SCP  *	2.050	*​  1,485,977,539​  0.2290​  11.17%​  0.1140​  * 5.56%​ *  8.95​  1.77​  15.82%​  SCG  *	4.090	*​  21,776,373,413​  0.4448​  10.88%​  0.2065​  * 5.05%​ *  9.20​  3.11​  31.51%​  SGP  *	4.030	*​  9,581,398,435​  0.3850​  9.55%​  0.2400​  * 5.96%​ *  10.47​  3.68​  9.51%​  VCX  *	2.930	*​  11,598,846,363​  0.2556​  8.72%​  0.1690​  * 5.77%​ *  11.46​  2.45​  19.59%​  WFD  *	10.250	*​  21,300,419,282​  0.5427​  5.29%​  0.3285​  * 3.20%​ *  18.89​  4.99​  105.41%​ 



*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		30-Oct-15				06-Nov-15		  	Abacus Property	 ABP  3.270​  3.160​  -0.11​  *	-3.36%	*​ 	BWP Trust	 BWP  3.220​  3.260​  0.04​  1.24%​ 	Charter Hall	 CHC  4.490​  4.530​  0.04​  0.89%​ 	Charter Hall Retail	 CQR  4.240​  4.140​  -0.10​  -2.36%​ 	Cromwell	 CMW  1.005​  1.015​  0.01​  1.00%​ 	Dexus	 DXS  7.740​  7.730​  -0.01​  -0.13%​ 	Goodman Group	 GMG  6.070​  6.150​  0.08​  *	1.32%	*​ 	Growthpoint Properties	GOZ
 3.080​  3.080​  0.00​  0.00%​ 	GPT Group	 GPT  4.770​  4.700​  -0.07​  -1.47%​ 	Investa Office	 IOF  4.040​  3.980​  -0.06​  -1.49%​ 	Mirvac Group	 MGR  1.805​  1.805​  0.00​  0.00%​ 	National Storage	NSR
 1.575​  1.590​  0.02​  0.95%​ 	SCA Property Group	 SCP  2.060​  2.050​  -0.01​  -0.49%​ 	Scentre Group	 SCG  4.140​  4.090​  -0.05​  -1.21%​ 	Stockland Property	 SGP  4.050​  4.030​  -0.02​  -0.49%​ 	Vicinity Centres	 VCX  2.910​  2.930​  0.02​  0.69%​ 	Westfield Corporation	 WFD  10.250​  10.250​  0.00​  0.00%​ 




*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector. 

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 23 October 2015, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 23 October 2015. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.


*4.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*5.* Federation Centres (fdc) is now known as Vicinity Centres (vcx).


*6.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (15 November 2015)

*A-REIT Sector:  Weekending Friday 13 November 2015 *


Not a good week for the Australian Market and the A-REIT Sector was slapped down also. This seems to fly in the face of all the good news in respect of job reports, decrease in unemployment, consumer confidence reports and upbeat reports from retailers. 

I sometimes wonder if a lot of the down trend is due to large traders controlling the price while they accumulate. Conspiracy theories and paranoia aside there are a lot of good yield levels available at the present price levels. 




The *A-REIT Table* for closing prices for Weekending * 13 November 2015 * follows:


	Code	 *	Closing Price	* 		Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Premium to NTA		           ABP  *	2.970	*​  1,644,911,236​  0.2546​  8.57%​  0.1697​  * 5.71%​ *  11.67​  2.49​  19.28%​  BWP  *	3.120	*​  2,004,237,465​  0.3284​  10.53%​  0.1577​  * 5.05%​ *  9.50​  2.24​  39.29%​  CHC  *	4.420	*​  1,808,501,746​  0.3280​  7.42%​  0.2420​  * 5.48%​ *  13.48​  2.76​  60.14%​  CQR  *	4.020	*​  1,572,009,897​  0.4355​  10.83%​  0.2750​  * 6.84%​ *  9.23​  3.59​  11.98%​  CMW  *	0.985	*​  1,718,517,106​  0.0858​  8.71%​  0.0791​  * 8.03%​ *  11.48​  0.65​  51.54%​  DXS  *	7.450	*​  7,225,706,836​  0.6758​  9.07%​  0.4104​  * 5.51%​ *  11.02​  6.68​  11.53%​  GMG  *	5.850	*​  10,355,075,137​  0.6920​  11.83%​  0.2220​  * 3.79%​ *  8.45​  3.46​  69.08%​  GOZ  *	2.980	*​  1,696,495,750​  0.2570​  8.62%​  0.1970​  * 6.61%​ *  11.60​  2.16​  37.96%​  GPT  *	4.590	*​  8,238,207,868​  0.4875​  10.62%​  0.2170​  * 4.73%​ *  9.42​  4.03​  13.90%​  IOF  *	3.810	*​  2,339,520,815​  0.2920​  7.66%​  0.1925​  * 5.05%​ *  13.05​  3.62​  5.25%​  MGR  *	1.790	*​  6,625,135,742​  0.1651​  9.22%​  0.0940​  * 5.25%​ *  10.84​  1.74​  2.87%​  NSR  *	1.495	*​  500,012,331​  -0.0045​  -0.30%​  0.0820​  * 5.48%​ *  -332.22​  1.11​  34.68%​  SCP  *	1.980	*​  1,435,236,842​  0.2290​  11.57%​  0.1140​  * 5.76%​ *  8.65​  1.77​  11.86%​  SCG  *	3.910	*​  20,818,000,011​  0.4448​  11.38%​  0.2065​  * 5.28%​ *  8.79​  3.11​  25.72%​  SGP  *	3.840	*​  9,129,669,972​  0.3850​  10.03%​  0.2400​  * 6.25%​ *  9.97​  3.68​  4.35%​  VCX  *	2.720	*​  10,767,529,730​  0.2556​  9.40%​  0.1690​  * 6.21%​ *  10.64​  2.45​  11.02%​  WFD  *	9.660	*​  20,074,346,367​  0.5427​  5.62%​  0.3285​  * 3.40%​ *  17.80​  4.99​  93.59%​ 



*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		06-Nov-15				13-Nov-15		  	Abacus Property	 ABP  3.160​  2.970​  -0.19​  -6.01%​ 	BWP Trust	 BWP  3.260​  3.120​  -0.14​  -4.29%​ 	Charter Hall	 CHC  4.530​  4.420​  -0.11​  -2.43%​ 	Charter Hall Retail	 CQR  4.140​  4.020​  -0.12​  -2.90%​ 	Cromwell	 CMW  1.015​  0.985​  -0.03​  -2.96%​ 	Dexus	 DXS  7.730​  7.450​  -0.28​  -3.62%​ 	Goodman Group	 GMG  6.150​  5.850​  -0.30​  -4.88%​ 	Growthpoint Properties	 GOZ  3.080​  2.980​  -0.10​  -3.25%​ 	GPT Group	 GPT  4.700​  4.590​  -0.11​  -2.34%​ 	Investa Office	 IOF  3.980​  3.810​  -0.17​  -4.27%​ 	Mirvac Group	 MGR  1.805​  1.790​  -0.01​  -0.83%​ 	National Storage	 NSR  1.590​  1.495​  -0.10​  -5.97%​ 	SCA Property Group	 SCP  2.050​  1.980​  -0.07​  -3.41%​ 	Scentre Group	 SCG  4.090​  3.910​  -0.18​  -4.40%​ 	Stockland Property	 SGP  4.030​  3.840​  -0.19​  -4.71%​ 	Vicinity Centres	 VCX  2.930​  2.720​  -0.21​  *	-7.17%	*​ 	Westfield Corporation	 WFD  10.250​  9.660​  -0.59​  -5.76%​ 




*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector. 

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 23 October 2015, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 23 October 2015. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*5.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (22 November 2015)

*A-REIT Sector:  Weekending Friday 20 November 2015 *


Understandably our market (including the A-REIT Sector) took a dive on Monday. Fortunately there was a strong rally on Tuesday through Thursday with consolidation on Friday. Talk of a Christmas Rally picked up toward the end of the week with yield chasers reputedly  jumping into Banks, A-REIT's and other good dividend payers. No doubt some of the funds being pulled from mining is finding a new home also.  




The *A-REIT Table* for closing prices for Weekending * 20 November 2015 * follows:


	Code	 *	Closing Price	* 		Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Premium to NTA		           ABP  *	3.030	*​  1,678,141,766​  0.2546​  8.40%​  0.1697​  * 5.60%​ *  11.90​  2.49​  21.69%​  BWP  *	3.180	*​  2,042,780,494​  0.3284​  10.33%​  0.1577​  * 4.96%​ *  9.68​  2.24​  41.96%​  CHC  *	4.530	*​  1,853,509,708​  0.3280​  7.24%​  0.2420​  * 5.34%​ *  13.81​  2.76​  64.13%​  CQR  *	4.150	*​  1,622,846,038​  0.4355​  10.49%​  0.2750​  * 6.63%​ *  9.53​  3.59​  15.60%​  CMW  *	1.035	*​  1,805,751,477​  0.0858​  8.29%​  0.0791​  * 7.64%​ *  12.06​  0.65​  59.23%​  DXS  *	7.730	*​  7,497,277,026​  0.6758​  8.74%​  0.4104​  * 5.31%​ *  11.44​  6.68​  15.72%​  GMG  *	6.170	*​  10,921,506,597​  0.6920​  11.22%​  0.2220​  * 3.60%​ *  8.92​  3.46​  78.32%​  GOZ  *	3.090	*​  1,759,118,077​  0.2570​  8.32%​  0.1970​  * 6.38%​ *  12.02​  2.16​  43.06%​  GPT  *	4.700	*​  8,435,637,686​  0.4875​  10.37%​  0.2170​  * 4.62%​ *  9.64​  4.03​  16.63%​  IOF  *	3.880	*​  2,382,504,137​  0.2920​  7.53%​  0.1925​  * 4.96%​ *  13.29​  3.62​  7.18%​  MGR  *	1.880	*​  6,958,243,126​  0.1651​  8.78%​  0.0940​  * 5.00%​ *  11.39​  1.74​  8.05%​  NSR  *	1.540	*​  515,062,870​  -0.0045​  -0.29%​  0.0820​  * 5.32%​ *  -342.22​  1.11​  38.74%​  SCP  *	2.090	*​  1,514,972,222​  0.2290​  10.96%​  0.1140​  * 5.45%​ *  9.13​  1.77​  18.08%​  SCG  *	4.100	*​  21,829,616,380​  0.4448​  10.85%​  0.2065​  * 5.04%​ *  9.22​  3.11​  31.83%​  SGP  *	3.990	*​  9,486,297,706​  0.3850​  9.65%​  0.2400​  * 6.02%​ *  10.36​  3.68​  8.42%​  VCX  *	2.830	*​  11,202,981,300​  0.2556​  9.03%​  0.1690​  * 5.97%​ *  11.07​  2.45​  15.51%​  WFD  *	9.810	*​  20,386,059,820​  0.5427​  5.53%​  0.3285​  * 3.35%​ *  18.08​  4.99​  96.59%​ 



*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		13-Nov-15				20-Nov-15		  	Abacus Property	 ABP  2.970​  3.030​  0.06​  2.02%​ 	BWP Trust	 BWP  3.120​  3.180​  0.06​  1.92%​ 	Charter Hall	 CHC  4.420​  4.530​  0.11​  2.49%​ 	Charter Hall Retail	 CQR  4.020​  4.150​  0.13​  3.23%​ 	Cromwell	 CMW  0.985​  1.035​  0.05​  5.08%​ 	Dexus	 DXS  7.450​  7.730​  0.28​  3.76%​ 	Goodman Group	 GMG  5.850​  6.170​  0.32​  5.47%​ 	Growthpoint Properties	 GOZ  2.980​  3.090​  0.11​  3.69%​ 	GPT Group	 GPT  4.590​  4.700​  0.11​  2.40%​ 	Investa Office	 IOF  3.810​  3.880​  0.07​  1.84%​ 	Mirvac Group	 MGR  1.790​  1.880​  0.09​  5.03%​ 	National Storage	 NSR  1.495​  1.540​  0.04​  3.01%​ 	SCA Property Group	 SCP  1.980​  2.090​  0.11​  *	5.56%	*​ 	Scentre Group	 SCG  3.910​  4.100​  0.19​  4.86%​ 	Stockland Property	 SGP  3.840​  3.990​  0.15​  3.91%​ 	Vicinity Centres	 VCX  2.720​  2.830​  0.11​  4.04%​ 	Westfield Corporation	 WFD  9.660​  9.810​  0.15​  1.55%​ 




*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector. 

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 23 October 2015, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 23 October 2015. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*5.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (28 November 2015)

*A-REIT Sector:  Weekending Friday 27 November 2015 *


The A-REIT sector oscillated through the week finishing down. Now the Turks and the Russians (Abdul Abulbul Amir v's Ivan Skavinski Skavar) are engaged in a war of words and likely economic sanctions, following the shooting down of a Russian Jet Fighter that strayed into Turkish Air Space for something like 17 seconds. With friends like these who needs enemies. The markets reacted accordingly and the volatility continues. 




The *A-REIT Table* for closing prices for Weekending * 27 November 2015 * follows:


	Code	 *	Closing Price	* 		Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Premium to NTA		           ABP  *	2.970	*​  1,644,911,236​  0.2546​  8.57%​  0.1697​  * 5.71%​ *  11.67​  2.49​  19.28%​  BWP  *	3.190	*​  2,049,204,332​  0.3284​  10.29%​  0.1577​  * 4.94%​ *  9.71​  2.24​  42.41%​  CHC  *	4.520	*​  1,849,418,075​  0.3280​  7.26%​  0.2420​  * 5.35%​ *  13.78​  2.76​  63.77%​  CQR  *	4.070	*​  1,591,562,259​  0.4355​  10.70%​  0.2750​  * 6.76%​ *  9.35​  3.59​  13.37%​  CMW  *	1.020	*​  1,779,581,165​  0.0858​  8.41%​  0.0791​  * 7.75%​ *  11.89​  0.65​  56.92%​  DXS  *	7.730	*​  7,497,277,026​  0.6758​  8.74%​  0.4104​  * 5.31%​ *  11.44​  6.68​  15.72%​  GMG  *	6.130	*​  10,850,702,665​  0.6920​  11.29%​  0.2220​  * 3.62%​ *  8.86​  3.46​  77.17%​  GOZ  *	3.030	*​  1,724,960,444​  0.2570​  8.48%​  0.1970​  * 6.50%​ *  11.79​  2.16​  40.28%​  GPT  *	4.680	*​  8,399,741,356​  0.4875​  10.42%​  0.2170​  * 4.64%​ *  9.60​  4.03​  16.13%​  IOF  *	3.840	*​  2,357,942,239​  0.2920​  7.60%​  0.1925​  * 5.01%​ *  13.15​  3.62​  6.08%​  MGR  *	1.885	*​  6,976,749,092​  0.1651​  8.76%​  0.0940​  * 4.99%​ *  11.42​  1.74​  8.33%​  NSR  *	1.520	*​  508,373,742​  -0.0045​  -0.30%​  0.0820​  * 5.39%​ *  -337.78​  1.11​  36.94%​  SCP  *	2.080	*​  1,507,723,551​  0.2290​  11.01%​  0.1140​  * 5.48%​ *  9.08​  1.77​  17.51%​  SCG  *	4.060	*​  21,616,644,513​  0.4448​  10.96%​  0.2065​  * 5.09%​ *  9.13​  3.11​  30.55%​  SGP  *	4.010	*​  9,533,848,070​  0.3850​  9.60%​  0.2400​  * 5.99%​ *  10.42​  3.68​  8.97%​  VCX  *	2.750	*​  10,886,289,249​  0.2556​  9.29%​  0.1690​  * 6.15%​ *  10.76​  2.45​  12.24%​  WFD  *	9.600	*​  19,949,660,986​  0.5427​  5.65%​  0.3285​  * 3.42%​ *  17.69​  4.99​  92.38%​ 



*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		20-Nov-15				28-Nov-15		  	Abacus Property	 ABP  3.030​  2.970​  -0.06​  -1.98%​ 	BWP Trust	 BWP  3.180​  3.190​  0.01​  0.31%​ 	Charter Hall	 CHC  4.530​  4.520​  -0.01​  -0.22%​ 	Charter Hall Retail	 CQR  4.150​  4.070​  -0.08​  -1.93%​ 	Cromwell	 CMW  1.035​  1.020​  -0.01​  -1.45%​ 	Dexus	 DXS  7.730​  7.730​  0.00​  0.00%​ 	Goodman Group	 GMG  6.170​  6.130​  -0.04​  -0.65%​ 	Growthpoint Properties	 GOZ  3.090​  3.030​  -0.06​  -1.94%​ 	GPT Group	 GPT  4.700​  4.680​  -0.02​  -0.43%​ 	Investa Office	 IOF  3.880​  3.840​  -0.04​  -1.03%​ 	Mirvac Group	 MGR  1.880​  1.885​  0.01​  0.27%​ 	National Storage	 NSR  1.540​  1.520​  -0.02​  -1.30%​ 	SCA Property Group	 SCP  2.090​  2.080​  -0.01​  -0.48%​ 	Scentre Group	 SCG  4.100​  4.060​  -0.04​  -0.98%​ 	Stockland Property	 SGP  3.990​  4.010​  0.02​  *	0.50%	*​ 	Vicinity Centres	 VCX  2.830​  2.750​  -0.08​  -2.83%​ 	Westfield Corporation	 WFD  9.810​  9.600​  -0.21​  -2.14%​ 




*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector. 

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 23 October 2015, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 23 October 2015. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*5.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## Logique (29 November 2015)

Thanks Nulla, appreciate the updates


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## nulla nulla (5 December 2015)

*A-REIT Sector:  Weekending Friday 04 December 2015 *


Well the Russian/Turk conflict has disintegrated into a war of words, accusations and denial and the investment world seems to have moved on. However  the US Fed again suggested it won't be long before they increase interest rates from zero. Once again the market reaction was a global sell down. You would think the likelihood of US interest rates moving from zero percent to zero point two five percent (0.25%) would have been factored into the markets by now, go figure. 

This week I have included three charts:

A Ten year "monthly chart; 
a two year "weekly" chart; and 
a six month "daily" chart. 

The glory days of euphoria driven global acquisitions at inflated prices, highly leveraged debt levels and 10% yields (paid quarterly, mostly from borrowings) are well and truly gone. The A-REIT sector has not recovered to anything like the pre GFC levels of late 2007.  

To me, the charts show that the A-REIT sector peaked in February this year and has been moving sideways and marginally down since. This may suggest that the market considers that the sector has reached a level of prime value with little future prospects for overall growth (barring mergers and takeovers). Fortunately for investors the daily chart (particularly those for the individual stocks making up the sector) shows the volatility in the price action day to day. The trade opportunities for the short term investors continue to pop up for those keeping a close eye on the swings, while the longer term investors are still receiving yields of 5% plus . 

*Ten year monthly chart*.



*Two year weekly chart*.



*Six month daily chart*.




The *A-REIT Table* for closing prices for Weekending * 04 December  2015 * follows:


	Code	 *	Closing Price	* 		Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Premium to NTA		           ABP  *	2.920	*​  1,617,219,128​  0.2546​  8.72%​  0.1697​  * 5.81%​ *  11.47​  2.49​  17.27%​  BWP  *	3.120	*​  2,004,237,465​  0.3284​  10.53%​  0.1577​  * 5.05%​ *  9.50​  2.24​  39.29%​  CHC  *	4.440	*​  1,816,685,012​  0.3280​  7.39%​  0.2420​  * 5.45%​ *  13.54​  2.76​  60.87%​  CQR  *	4.080	*​  1,595,472,731​  0.4355​  10.67%​  0.2750​  * 6.74%​ *  9.37​  3.59​  13.65%​  CMW  *	1.020	*​  1,779,581,165​  0.0858​  8.41%​  0.0791​  * 7.75%​ *  11.89​  0.65​  56.92%​  DXS  *	7.650	*​  7,419,685,543​  0.6758​  8.83%​  0.4104​  * 5.36%​ *  11.32​  6.68​  14.52%​  GMG  *	6.110	*​  10,815,300,699​  0.6920​  11.33%​  0.2220​  * 3.63%​ *  8.83​  3.46​  76.59%​  GOZ  *	2.990	*​  1,702,188,689​  0.2570​  8.60%​  0.1970​  * 6.59%​ *  11.63​  2.16​  38.43%​  GPT  *	4.630	*​  8,310,000,529​  0.4875​  10.53%​  0.2170​  * 4.69%​ *  9.50​  4.03​  14.89%​  IOF  *	3.830	*​  2,351,801,764​  0.2920​  7.62%​  0.1925​  * 5.03%​ *  13.12​  3.62​  5.80%​  MGR  *	1.850	*​  6,847,207,331​  0.1651​  8.92%​  0.0940​  * 5.08%​ *  11.21​  1.74​  6.32%​  NSR  *	1.555	*​  520,079,716​  -0.0045​  -0.29%​  0.0820​  * 5.27%​ *  -345.56​  1.11​  40.09%​  SCP  *	2.110	*​  1,529,469,564​  0.2290​  10.85%​  0.1140​  * 5.40%​ *  9.21​  1.77​  19.21%​  SCG  *	4.080	*​  21,723,130,446​  0.4448​  10.90%​  0.2065​  * 5.06%​ *  9.17​  3.11​  31.19%​  SGP  *	4.030	*​  9,581,398,435​  0.3850​  9.55%​  0.2400​  * 5.96%​ *  10.47​  3.68​  9.51%​  VCX  *	2.730	*​  10,807,116,236​  0.2556​  9.36%​  0.1690​  * 6.19%​ *  10.68​  2.45​  11.43%​  WFD  *	9.410	*​  19,554,823,945​  0.5427​  5.77%​  0.3285​  * 3.49%​ *  17.34​  4.99​  88.58%​ 



*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		28-Nov-15				04-Dec-15		  	Abacus Property	 ABP  2.970​  2.920​  -0.05​  -1.68%​ 	BWP Trust	 BWP  3.190​  3.120​  -0.07​  *	-2.19%	*​ 	Charter Hall	 CHC  4.520​  4.440​  -0.08​  -1.77%​ 	Charter Hall Retail	 CQR  4.070​  4.080​  0.01​  0.25%​ 	Cromwell	 CMW  1.020​  1.020​  0.00​  0.00%​ 	Dexus	 DXS  7.730​  7.650​  -0.08​  -1.03%​ 	Goodman Group	 GMG  6.130​  6.110​  -0.02​  -0.33%​ 	Growthpoint Properties	 GOZ  3.030​  2.990​  -0.04​  -1.32%​ 	GPT Group	 GPT  4.680​  4.630​  -0.05​  -1.07%​ 	Investa Office	 IOF  3.840​  3.830​  -0.01​  -0.26%​ 	Mirvac Group	 MGR  1.885​  1.850​  -0.03​  -1.86%​ 	National Storage	 NSR  1.520​  1.555​  0.03​  *	2.30%	*​ 	SCA Property Group	 SCP  2.080​  2.110​  0.03​  1.44%​ 	Scentre Group	 SCG  4.060​  4.080​  0.02​  0.49%​ 	Stockland Property	 SGP  4.010​  4.030​  0.02​  0.50%​ 	Vicinity Centres	 VCX  2.750​  2.730​  -0.02​  -0.73%​ 	Westfield Corporation	 WFD  9.600​  9.410​  -0.19​  -1.98%​ 




*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector. 

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 23 October 2015, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 23 October 2015. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*5.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## Toyota Lexcen (6 December 2015)

thanks for the effort into this stock sector nulla nulla

might be a flat market for a while for investors,


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## nulla nulla (12 December 2015)

*A-REIT Sector:  Weekending Friday 11 December 2015 *


Now the Oil producing nations have ramped up production and the Oil price has been allowed  to drop below US$38.00 a barrel. The DOW and the Nasdaq have finished the week down leading the way for global markets. Next week is going to be interesting. Christmas rally, I don't think so.






The *A-REIT Table* for closing prices for Weekending * 11 December  2015 * follows:


	Code	 *	Closing Price	* 		Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Premium to NTA		           ABP  *	2.990	*​  1,655,988,079​  0.2546​  8.52%​  0.1697​  * 5.68%​ *  11.74​  2.49​  20.08%​  BWP  *	3.070	*​  1,972,118,275​  0.3284​  10.70%​  0.1577​  * 5.14%​ *  9.35​  2.24​  37.05%​  CHC  *	4.420	*​  1,808,501,746​  0.3280​  7.42%​  0.2420​  * 5.48%​ *  13.48​  2.76​  60.14%​  CQR  *	4.070	*​  1,591,562,259​  0.4355​  10.70%​  0.2750​  * 6.76%​ *  9.35​  3.59​  13.37%​  CMW  *	1.010	*​  1,762,134,291​  0.0858​  8.50%​  0.0791​  * 7.83%​ *  11.77​  0.65​  55.38%​  DXS  *	7.620	*​  7,390,588,737​  0.6758​  8.87%​  0.4104​  * 5.39%​ *  11.28​  6.68​  14.07%​  GMG  *	6.040	*​  10,691,393,817​  0.6920​  11.46%​  0.2220​  * 3.68%​ *  8.73​  3.46​  74.57%​  GOZ  *	3.040	*​  1,730,653,383​  0.2570​  8.45%​  0.1970​  * 6.48%​ *  11.83​  2.16​  40.74%​  GPT  *	4.630	*​  8,310,000,529​  0.4875​  10.53%​  0.2170​  * 4.69%​ *  9.50​  4.03​  14.89%​  IOF  *	4.050	*​  2,486,892,205​  0.2920​  7.21%​  0.1925​  * 4.75%​ *  13.87​  3.62​  11.88%​  MGR  *	1.920	*​  7,106,290,852​  0.1651​  8.60%​  0.0940​  * 4.90%​ *  11.63​  1.74​  10.34%​  NSR  *	1.585	*​  530,113,408​  -0.0045​  -0.28%​  0.0820​  * 5.17%​ *  -352.22​  1.11​  42.79%​  SCP  *	2.050	*​  1,485,977,539​  0.2290​  11.17%​  0.1140​  * 5.56%​ *  8.95​  1.77​  15.82%​  SCG  *	4.070	*​  21,669,887,479​  0.4448​  10.93%​  0.2065​  * 5.07%​ *  9.15​  3.11​  30.87%​  SGP  *	4.100	*​  9,747,824,710​  0.3850​  9.39%​  0.2400​  * 5.85%​ *  10.65​  3.68​  11.41%​  VCX  *	2.750	*​  10,886,289,249​  0.2556​  9.29%​  0.1690​  * 6.15%​ *  10.76​  2.45​  12.24%​  WFD  *	9.440	*​  19,617,166,636​  0.5427​  5.75%​  0.3285​  * 3.48%​ *  17.39​  4.99​  89.18%​ 



*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		04-Dec-15				11-Dec-15		  	Abacus Property	 ABP  2.920​  2.990​  0.07​  2.40%​ 	BWP Trust	 BWP  3.120​  3.070​  -0.05​  -1.60%​ 	Charter Hall	 CHC  4.440​  4.420​  -0.02​  -0.45%​ 	Charter Hall Retail	 CQR  4.080​  4.070​  -0.01​  -0.25%​ 	Cromwell	 CMW  1.020​  1.010​  -0.01​  -0.98%​ 	Dexus	 DXS  7.650​  7.620​  -0.03​  -0.39%​ 	Goodman Group	 GMG  6.110​  6.040​  -0.07​  -1.15%​ 	Growthpoint Properties	 GOZ  2.990​  3.040​  0.05​  1.67%​ 	GPT Group	 GPT  4.630​  4.630​  0.00​  0.00%​ 	Investa Office	 IOF  3.830​  4.050​  0.22​  *	5.74%	*​ 	Mirvac Group	 MGR  1.850​  1.920​  0.07​  3.78%​ 	National Storage	 NSR  1.555​  1.585​  0.03​  1.93%​ 	SCA Property Group	 SCP  2.110​  2.050​  -0.06​  *	-2.84%	*​ 	Scentre Group	 SCG  4.080​  4.070​  -0.01​  -0.25%​ 	Stockland Property	 SGP  4.030​  4.100​  0.07​  1.74%​ 	Vicinity Centres	 VCX  2.730​  2.750​  0.02​  0.73%​ 	Westfield Corporation	 WFD  9.410​  9.440​  0.03​  0.32%​ 




*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector. 

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 23 October 2015, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 23 October 2015. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*5.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (19 December 2015)

*A-REIT Sector:  Weekending Friday 18 December 2015 *


The falling oil price has seen a shake out of the energy/resources sectors and US Junk Bonds. It appears that some of the funds previously invested in those areas may have found their way into Finance and A-REITs in the second half of last week. Surprisingly our markets were relatively flat on Friday (with some small retraces) despite a fall of the Dow on Thursday. No doubt there will be some local "adjustments" on Monday following the Dows further negative "adjustment" on their Friday. The volatility has certainly provided some opportunity for those investors not afraid to take risks.   






The *A-REIT Table* for closing prices for Weekending * 18 December  2015 * follows:


	Code	 *	Closing Price	* 		Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Premium to NTA		           ABP  *	3.080	*​  1,705,833,874​  0.2546​  8.27%​  0.1697​  * 5.51%​ *  12.10​  2.49​  23.69%​  BWP  *	3.210	*​  2,062,052,008​  0.3284​  10.23%​  0.1577​  * 4.91%​ *  9.77​  2.24​  43.30%​  CHC  *	4.600	*​  1,882,151,139​  0.3280​  7.13%​  0.2420​  * 5.26%​ *  14.02​  2.76​  66.67%​  CQR  *	4.290	*​  1,677,592,651​  0.4355​  10.15%​  0.2750​  * 6.41%​ *  9.85​  3.59​  19.50%​  CMW  *	1.040	*​  1,814,474,914​  0.0858​  8.25%​  0.0791​  * 7.61%​ *  12.12​  0.65​  60.00%​  DXS  *	7.690	*​  7,458,481,284​  0.6758​  8.79%​  0.4104​  * 5.34%​ *  11.38​  6.68​  15.12%​  GMG  *	6.290	*​  11,133,918,395​  0.6920​  11.00%​  0.2220​  * 3.53%​ *  9.09​  3.46​  81.79%​  GOZ  *	3.090	*​  1,759,118,077​  0.2570​  8.32%​  0.1970​  * 6.38%​ *  12.02​  2.16​  43.06%​  GPT  *	4.790	*​  8,597,171,174​  0.4875​  10.18%​  0.2170​  * 4.53%​ *  9.83​  4.03​  18.86%​  IOF  *	4.060	*​  2,493,032,679​  0.2920​  7.19%​  0.1925​  * 4.74%​ *  13.90​  3.62​  12.15%​  MGR  *	1.980	*​  7,328,362,441​  0.1651​  8.34%​  0.0940​  * 4.75%​ *  11.99​  1.74​  13.79%​  NSR  *	1.565	*​  523,424,280​  -0.0045​  -0.29%​  0.0820​  * 5.24%​ *  -347.78​  1.11​  40.99%​  SCP  *	2.140	*​  1,551,215,577​  0.2290​  10.70%​  0.1140​  * 5.33%​ *  9.34​  1.77​  20.90%​  SCG  *	4.140	*​  22,042,588,247​  0.4448​  10.74%​  0.2065​  * 4.99%​ *  9.31​  3.11​  33.12%​  SGP  *	4.190	*​  9,961,801,350​  0.3850​  9.19%​  0.2400​  * 5.73%​ *  10.88​  3.68​  13.86%​  VCX  *	2.810	*​  11,123,808,287​  0.2556​  9.10%​  0.1690​  * 6.01%​ *  10.99​  2.45​  14.69%​  WFD  *	9.700	*​  20,157,469,954​  0.5427​  5.59%​  0.3285​  * 3.39%​ *  17.87​  4.99​  94.39%​ 



*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		11-Dec-15				18-Dec-15		  	Abacus Property	 ABP  2.990​  3.080​  0.09​  3.01%​ 	BWP Trust	 BWP  3.070​  3.210​  0.14​  4.56%​ 	Charter Hall	 CHC  4.420​  4.600​  0.18​  4.07%​ 	Charter Hall Retail	 CQR  4.070​  4.290​  0.22​  *	5.41%	*​ 	Cromwell	 CMW  1.010​  1.040​  0.03​  2.97%​ 	Dexus	 DXS  7.620​  7.690​  0.07​  0.92%​ 	Goodman Group	 GMG  6.040​  6.290​  0.25​  4.14%​ 	Growthpoint Properties	 GOZ  3.040​  3.090​  0.05​  1.64%​ 	GPT Group	 GPT  4.630​  4.790​  0.16​  3.46%​ 	Investa Office	 IOF  4.050​  4.060​  0.01​  0.25%​ 	Mirvac Group	 MGR  1.920​  1.980​  0.06​  3.13%​ 	National Storage	 NSR  1.585​  1.565​  -0.02​  -1.26%​ 	SCA Property Group	 SCP  2.050​  2.140​  0.09​  4.39%​ 	Scentre Group	 SCG  4.070​  4.140​  0.07​  1.72%​ 	Stockland Property	 SGP  4.100​  4.190​  0.09​  2.20%​ 	Vicinity Centres	 VCX  2.750​  2.810​  0.06​  2.18%​ 	Westfield Corporation	 WFD  9.440​  9.700​  0.26​  2.75%​ 




*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector. 

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 23 October 2015, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 23 October 2015. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*5.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## Toyota Lexcen (19 December 2015)

I see dxs and iof are to "merge", with both boards asking shareholders to accept proposal

Its a cash and script of dxs for iof from i have read


----------



## nulla nulla (27 December 2015)

*A-REIT Sector:  Weekending Friday 24 December 2015 *


A short week but still volatile.   The Christmas rally in the A-REIT Sector was a bit of a non event. Most of the shares in the A-REIT Sector go ex-div on Tuesday and will likely fall by the amount of their dividend. It will be interesting to see if there is any last minute portfolio reweighting by the fund managers and how that effects the beggars I am holding. 

This time last year the A-REIT shares rebounded quickly after going ex-div, then jumped to new (post gfc) highs. Unfortunately they spent the next 10 months drifting sideways and down. I hope 2016 is better for the A-REIT sector and those investors that follow this sector.





The *A-REIT Table* for closing prices for Weekending * 24 December  2015 * follows:


	Code	 *	Closing Price	* 		Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Premium to NTA		           ABP  *	3.150	*​  1,744,602,826​  0.2546​  8.08%​  0.1697​  * 5.39%​ *  12.37​  2.49​  26.51%​  BWP  *	3.220	*​  2,068,475,846​  0.3284​  10.20%​  0.1577​  * 4.90%​ *  9.81​  2.24​  43.75%​  CHC  *	4.640	*​  1,898,517,670​  0.3280​  7.07%​  0.2420​  * 5.22%​ *  14.15​  2.76​  68.12%​  CQR  *	4.260	*​  1,665,861,234​  0.4355​  10.22%​  0.2750​  * 6.46%​ *  9.78​  3.59​  18.66%​  CMW  *	1.060	*​  1,849,368,662​  0.0858​  8.09%​  0.0791​  * 7.46%​ *  12.35​  0.65​  63.08%​  DXS  *	7.670	*​  7,439,083,413​  0.6758​  8.81%​  0.4104​  * 5.35%​ *  11.35​  6.68​  14.82%​  GMG  *	6.370	*​  11,275,526,260​  0.6920​  10.86%​  0.2220​  * 3.49%​ *  9.21​  3.46​  84.10%​  GOZ  *	3.090	*​  1,759,118,077​  0.2570​  8.32%​  0.1970​  * 6.38%​ *  12.02​  2.16​  43.06%​  GPT  *	4.850	*​  8,704,860,166​  0.4875​  10.05%​  0.2170​  * 4.47%​ *  9.95​  4.03​  20.35%​  IOF  *	4.040	*​  2,480,751,730​  0.2920​  7.23%​  0.1925​  * 4.76%​ *  13.84​  3.62​  11.60%​  MGR  *	2.020	*​  7,476,410,167​  0.1651​  8.17%​  0.0940​  * 4.65%​ *  12.24​  1.74​  16.09%​  NSR  *	1.530	*​  511,718,306​  -0.0045​  -0.29%​  0.0820​  * 5.36%​ *  -340.00​  1.11​  37.84%​  SCP  *	2.170	*​  1,572,961,590​  0.2290​  10.55%​  0.1140​  * 5.25%​ *  9.48​  1.77​  22.60%​  SCG  *	4.160	*​  22,149,074,180​  0.4448​  10.69%​  0.2065​  * 4.96%​ *  9.35​  3.11​  33.76%​  SGP  *	4.220	*​  10,033,126,897​  0.3850​  9.12%​  0.2400​  * 5.69%​ *  10.96​  3.68​  14.67%​  VCX  *	2.830	*​  11,202,981,300​  0.2556​  9.03%​  0.1690​  * 5.97%​ *  11.07​  2.45​  15.51%​  WFD  *	9.570	*​  19,887,318,295​  0.5427​  5.67%​  0.3285​  * 3.43%​ *  17.63​  4.99​  91.78%​ 



*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		18-Dec-15				24-Dec-15		  	Abacus Property	 ABP  3.080​  3.150​  0.07​  2.27%​ 	BWP Trust	 BWP  3.210​  3.220​  0.01​  0.31%​ 	Charter Hall	 CHC  4.600​  4.640​  0.04​  0.87%​ 	Charter Hall Retail	 CQR  4.290​  4.260​  -0.03​  -0.70%​ 	Cromwell	 CMW  1.040​  1.060​  0.02​  1.92%​ 	Dexus	 DXS  7.690​  7.670​  -0.02​  -0.26%​ 	Goodman Group	 GMG  6.290​  6.370​  0.08​  1.27%​ 	Growthpoint Properties	 GOZ  3.090​  3.090​  0.00​  0.00%​ 	GPT Group	 GPT  4.790​  4.850​  0.06​  1.25%​ 	Investa Office	 IOF  4.060​  4.040​  -0.02​  -0.49%​ 	Mirvac Group	 MGR  1.980​  2.020​  0.04​  2.02%​ 	National Storage	 NSR  1.565​  1.530​  -0.03​  -2.24%​ 	SCA Property Group	 SCP  2.140​  2.170​  0.03​  1.40%​ 	Scentre Group	 SCG  4.140​  4.160​  0.02​  0.48%​ 	Stockland Property	 SGP  4.190​  4.220​  0.03​  0.72%​ 	Vicinity Centres	 VCX  2.810​  2.830​  0.02​  0.71%​ 	Westfield Corporation	 WFD  9.700​  9.570​  -0.13​  -1.34%​ 




*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector. 

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 23 October 2015, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 23 October 2015. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*5.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (3 January 2016)

*A-REIT Sector:  Weekending Thursday 31 December 2015 *


Tuesday and Wednesday were good as the A-REIT Sector went ex-div and quickly rebounded off the ex-div lows. Thursday saw many of the A-REIT shares sold down before close of trade to the ex-div lows or close to them. However the long term trend still suggests that the Sector impetus is on the rise. No doubt 2016 will be every bit as volatile as 2015.





The *A-REIT Table* for closing prices for Weekending * 31 December  2015 * follows:


	Code	 *	Closing Price	* 		Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Premium to NTA		           ABP  *	3.200	*​  1,772,294,934​  0.2546​  7.96%​  0.1697​  * 5.30%​ *  12.57​  2.49​  28.51%​  BWP  *	3.160	*​  2,029,932,817​  0.3284​  10.39%​  0.1577​  * 4.99%​ *  9.62​  2.24​  41.07%​  CHC  *	4.540	*​  1,857,601,341​  0.3280​  7.22%​  0.2420​  * 5.33%​ *  13.84​  2.76​  64.49%​  CQR  *	4.170	*​  1,630,666,982​  0.4355​  10.44%​  0.2750​  * 6.59%​ *  9.58​  3.59​  16.16%​  CMW  *	1.050	*​  1,831,921,788​  0.0858​  8.17%​  0.0791​  * 7.53%​ *  12.24​  0.65​  61.54%​  DXS  *	7.500	*​  7,274,201,513​  0.6758​  9.01%​  0.4104​  * 5.47%​ *  11.10​  6.68​  12.28%​  GMG  *	6.270	*​  11,098,516,429​  0.6920​  11.04%​  0.2220​  * 3.54%​ *  9.06​  3.46​  81.21%​  GOZ  *	3.080	*​  1,753,425,138​  0.2570​  8.34%​  0.1970​  * 6.40%​ *  11.98​  2.16​  42.59%​  GPT  *	4.780	*​  8,579,223,009​  0.4875​  10.20%​  0.2170​  * 4.54%​ *  9.81​  4.03​  18.61%​  IOF  *	4.000	*​  2,456,189,832​  0.2920​  7.30%​  0.1925​  * 4.81%​ *  13.70​  3.62​  10.50%​  MGR  *	1.980	*​  7,328,362,441​  0.1651​  8.34%​  0.0940​  * 4.75%​ *  11.99​  1.74​  13.79%​  NSR  *	1.540	*​  515,062,870​  -0.0045​  -0.29%​  0.0820​  * 5.32%​ *  -342.22​  1.11​  38.74%​  SCP  *	2.130	*​  1,543,966,906​  0.2290​  10.75%​  0.1140​  * 5.35%​ *  9.30​  1.77​  20.34%​  SCG  *	4.190	*​  22,308,803,081​  0.4448​  10.62%​  0.2065​  * 4.93%​ *  9.42​  3.11​  34.73%​  SGP  *	4.100	*​  9,747,824,710​  0.3850​  9.39%​  0.2400​  * 5.85%​ *  10.65​  3.68​  11.41%​  VCX  *	2.800	*​  11,084,221,781​  0.2556​  9.13%​  0.1690​  * 6.04%​ *  10.95​  2.45​  14.29%​  WFD  *	9.510	*​  19,762,632,914​  0.5427​  5.71%​  0.3285​  * 3.45%​ *  17.52​  4.99​  90.58%​ 



*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		24-Dec-15				31-Dec-15		  	Abacus Property	 ABP  3.150​  3.200​  0.05​  1.59%​ 	BWP Trust	 BWP  3.220​  3.160​  -0.06​  -1.86%​ 	Charter Hall	 CHC  4.640​  4.540​  -0.10​  -2.16%​ 	Charter Hall Retail	 CQR  4.260​  4.170​  -0.09​  -2.11%​ 	Cromwell	 CMW  1.060​  1.050​  -0.01​  -0.94%​ 	Dexus	 DXS  7.670​  7.500​  -0.17​  -2.22%​ 	Goodman Group	 GMG  6.370​  6.270​  -0.10​  -1.57%​ 	Growthpoint Properties	 GOZ  3.090​  3.080​  -0.01​  -0.32%​ 	GPT Group	 GPT  4.850​  4.780​  -0.07​  -1.44%​ 	Investa Office	 IOF  4.040​  4.000​  -0.04​  -0.99%​ 	Mirvac Group	 MGR  2.020​  1.980​  -0.04​  -1.98%​ 	National Storage	 NSR  1.530​  1.540​  0.01​  0.65%​ 	SCA Property Group	 SCP  2.170​  2.130​  -0.04​  -1.84%​ 	Scentre Group	 SCG  4.160​  4.190​  0.03​  0.72%​ 	Stockland Property	 SGP  4.220​  4.100​  -0.12​  *	-2.84%	*​ 	Vicinity Centres	 VCX  2.830​  2.800​  -0.03​  -1.06%​ 	Westfield Corporation	 WFD  9.570​  9.510​  -0.06​  -0.63%​ 




*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector. 

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 23 October 2015, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 23 October 2015. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*5.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (10 January 2016)

*A-REIT Sector:  Weekending Friday 08 January 2016 *


Not a good week. China adjusted their currency against the dollar to make exports cheaper and hopefully stimulate demand and production. Their economy is still growing but not at the same rates as 4-5 years ago. Global markets re-act badly to any signs of slowing growth in China, real or imagined. North Korea claim to have successfully tested a Hydrogen bomb underground which the rest of the world has had difficulty confirming or refuting. However this has made the Asian markets very jittery and the rest unsettled. The Dow Jones had its' biggest opening drop (for the year) in Donkey's years and the bulls are running from the bears. This is either a good time to buy or time to sit on your cash as next week (and the week after) could be a better time to buy. Good luck 





The *A-REIT Table* for closing prices for Weekending * 08 January 2016 * follows:


	Code	 *	Closing Price	* 		Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Premium to NTA		           ABP  *	3.170	*​  1,755,679,669​  0.2546​  8.03%​  0.1697​  * 5.35%​ *  12.45​  2.49​  27.31%​  BWP  *	3.070	*​  1,972,118,275​  0.3284​  10.70%​  0.1577​  * 5.14%​ *  9.35​  2.24​  37.05%​  CHC  *	4.360	*​  1,783,951,949​  0.3280​  7.52%​  0.2420​  * 5.55%​ *  13.29​  2.76​  57.97%​  CQR  *	4.060	*​  1,587,651,786​  0.4355​  10.73%​  0.2750​  * 6.77%​ *  9.32​  3.59​  13.09%​  CMW  *	1.010	*​  1,762,134,291​  0.0858​  8.50%​  0.0791​  * 7.83%​ *  11.77​  0.65​  55.38%​  DXS  *	7.220	*​  7,002,631,323​  0.6758​  9.36%​  0.4104​  * 5.68%​ *  10.68​  6.68​  8.08%​  GMG  *	6.170	*​  10,921,506,597​  0.6920​  11.22%​  0.2220​  * 3.60%​ *  8.92​  3.46​  78.32%​  GOZ  *	2.970	*​  1,690,802,812​  0.2570​  8.65%​  0.1970​  * 6.63%​ *  11.56​  2.16​  37.50%​  GPT  *	4.580	*​  8,220,259,703​  0.4875​  10.64%​  0.2170​  * 4.74%​ *  9.39​  4.03​  13.65%​  IOF  *	3.860	*​  2,370,223,188​  0.2920​  7.56%​  0.1925​  * 4.99%​ *  13.22​  3.62​  6.63%​  MGR  *	1.905	*​  7,050,772,955​  0.1651​  8.67%​  0.0940​  * 4.93%​ *  11.54​  1.74​  9.48%​  NSR  *	1.465	*​  489,978,639​  -0.0045​  -0.31%​  0.0820​  * 5.60%​ *  -325.56​  1.11​  31.98%​  SCP  *	2.060	*​  1,493,226,210​  0.2290​  11.12%​  0.1140​  * 5.53%​ *  9.00​  1.77​  16.38%​  SCG  *	4.130	*​  21,989,345,280​  0.4448​  10.77%​  0.2065​  * 5.00%​ *  9.29​  3.11​  32.80%​  SGP  *	4.060	*​  9,652,723,981​  0.3850​  9.48%​  0.2400​  * 5.91%​ *  10.55​  3.68​  10.33%​  VCX  *	2.750	*​  10,886,289,249​  0.2556​  9.29%​  0.1690​  * 6.15%​ *  10.76​  2.45​  12.24%​  WFD  *	9.240	*​  19,201,548,699​  0.5427​  5.87%​  0.3285​  * 3.56%​ *  17.03​  4.99​  85.17%​ 



*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		31-Dec-15				08-Jan-16		  	Abacus Property	 ABP  3.200​  3.170​  -0.03​  -0.94%​ 	BWP Trust	 BWP  3.160​  3.070​  -0.09​  -2.85%​ 	Charter Hall	 CHC  4.540​  4.360​  -0.18​  -3.96%​ 	Charter Hall Retail	 CQR  4.170​  4.060​  -0.11​  -2.64%​ 	Cromwell	 CMW  1.050​  1.010​  -0.04​  -3.81%​ 	Dexus	 DXS  7.500​  7.220​  -0.28​  -3.73%​ 	Goodman Group	 GMG  6.270​  6.170​  -0.10​  -1.59%​ 	Growthpoint Properties	 GOZ  3.080​  2.970​  -0.11​  -3.57%​ 	GPT Group	 GPT  4.780​  4.580​  -0.20​  -4.18%​ 	Investa Office	 IOF  4.000​  3.860​  -0.14​  -3.50%​ 	Mirvac Group	 MGR  1.980​  1.905​  -0.08​  -3.79%​ 	National Storage	 NSR  1.540​  1.465​  -0.08​  -4.87%​ 	SCA Property Group	 SCP  2.130​  2.060​  -0.07​  -3.29%​ 	Scentre Group	 SCG  4.190​  4.130​  -0.06​  -1.43%​ 	Stockland Property	 SGP  4.100​  4.060​  -0.04​  -0.98%​ 	Vicinity Centres	 VCX  2.800​  2.750​  -0.05​  -1.79%​ 	Westfield Corporation	 WFD  9.510​  9.240​  -0.27​  -2.84%​ 




*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector. 

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 23 October 2015, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 23 October 2015. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*5.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (17 January 2016)

*A-REIT Sector:  Weekending Friday 15 January 2016 *


Oil dropped under US$30.00 per barrel and the media is in full gloom and doom mode about the amount wiped off the markets since 01 January 2016. Conveniently they overlook that the markets are pretty much where they were about 15 December 2015 (four weeks ago) before the rather pathetic short lived Christmas rally.

No doubt with a bit more negative input, the professional shorters will push through the stop losses of the bargain hunters (who will add to the selling), and the margin call sellers will add to the selling, until the shorters elect to take profits causing a brief rally. The bargain hunters will step up only for the cycle to start again. 

Any excuse for volatility. Good luck 





The *A-REIT Table* for closing prices for Weekending * 15 January 2016 * follows:


	Code	 *	Closing Price	* 		Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Premium to NTA		           ABP  *	2.970	*​  1,644,911,236​  0.2546​  8.57%​  0.1697​  * 5.71%​ *  11.67​  2.49​  19.28%​  BWP  *	3.080	*​  1,978,542,113​  0.3284​  10.66%​  0.1577​  * 5.12%​ *  9.38​  2.24​  37.50%​  CHC  *	4.340	*​  1,775,768,683​  0.3280​  7.56%​  0.2420​  * 5.58%​ *  13.23​  2.76​  57.25%​  CQR  *	3.980	*​  1,556,368,007​  0.4355​  10.94%​  0.2750​  * 6.91%​ *  9.14​  3.59​  10.86%​  CMW  *	0.985	*​  1,718,517,106​  0.0858​  8.71%​  0.0791​  * 8.03%​ *  11.48​  0.65​  51.54%​  DXS  *	7.060	*​  6,847,448,357​  0.6758​  9.57%​  0.4104​  * 5.81%​ *  10.45​  6.68​  5.69%​  GMG  *	5.950	*​  10,532,084,968​  0.6920​  11.63%​  0.2220​  * 3.73%​ *  8.60​  3.46​  71.97%​  GOZ  *	2.970	*​  1,690,802,812​  0.2570​  8.65%​  0.1970​  * 6.63%​ *  11.56​  2.16​  37.50%​  GPT  *	4.520	*​  8,112,570,711​  0.4875​  10.79%​  0.2170​  * 4.80%​ *  9.27​  4.03​  12.16%​  IOF  *	3.750	*​  2,302,677,968​  0.2920​  7.79%​  0.1925​  * 5.13%​ *  12.84​  3.62​  3.59%​  MGR  *	1.860	*​  6,884,219,263​  0.1651​  8.88%​  0.0940​  * 5.05%​ *  11.27​  1.74​  6.90%​  NSR  *	1.470	*​  491,650,921​  -0.0045​  -0.31%​  0.0820​  * 5.58%​ *  -326.67​  1.11​  32.43%​  SCP  *	2.050	*​  1,485,977,539​  0.2290​  11.17%​  0.1140​  * 5.56%​ *  8.95​  1.77​  15.82%​  SCG  *	4.130	*​  21,989,345,280​  0.4448​  10.77%​  0.2065​  * 5.00%​ *  9.29​  3.11​  32.80%​  SGP  *	4.010	*​  9,533,848,070​  0.3850​  9.60%​  0.2400​  * 5.99%​ *  10.42​  3.68​  8.97%​  VCX  *	2.820	*​  11,163,394,794​  0.2556​  9.06%​  0.1690​  * 5.99%​ *  11.03​  2.45​  15.10%​  WFD  *	9.330	*​  19,388,576,770​  0.5427​  5.82%​  0.3285​  * 3.52%​ *  17.19​  4.99​  86.97%​ 



*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		08-Jan-16				15-Jan-16		  	Abacus Property	 ABP  3.170​  2.970​  -0.20​  *	-6.31%	*​ 	BWP Trust	 BWP  3.070​  3.080​  0.01​  0.33%​ 	Charter Hall	 CHC  4.360​  4.340​  -0.02​  -0.46%​ 	Charter Hall Retail	 CQR  4.060​  3.980​  -0.08​  -1.97%​ 	Cromwell	 CMW  1.010​  0.985​  -0.03​  -2.48%​ 	Dexus	 DXS  7.220​  7.060​  -0.16​  -2.22%​ 	Goodman Group	 GMG  6.170​  5.950​  -0.22​  -3.57%​ 	Growthpoint Properties	 GOZ  2.970​  2.970​  0.00​  0.00%​ 	GPT Group	 GPT  4.580​  4.520​  -0.06​  -1.31%​ 	Investa Office	 IOF  3.860​  3.750​  -0.11​  -2.85%​ 	Mirvac Group	 MGR  1.905​  1.860​  -0.04​  -2.36%​ 	National Storage	 NSR  1.465​  1.470​  0.00​  0.34%​ 	SCA Property Group	 SCP  2.060​  2.050​  -0.01​  -0.49%​ 	Scentre Group	 SCG  4.130​  4.130​  0.00​  0.00%​ 	Stockland Property	 SGP  4.060​  4.010​  -0.05​  -1.23%​ 	Vicinity Centres	 VCX  2.750​  2.820​  0.07​  *	2.55%	*​ 	Westfield Corporation	 WFD  9.240​  9.330​  0.09​  0.97%​ 




*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector. 

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 23 October 2015, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 23 October 2015. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*5.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (24 January 2016)

*A-REIT Sector:  Weekending Friday 22 January 2016 *

As expected, the professional shorters pushed through the stop losses of the bargain hunters (who then added to the selling), and the margin call sellers also added to the selling, then (under the excuse that winter and supply disruptions in the Middle East justified a rebound in oil prices above $30 per barrel) the shorters elected to take profits causing a brief rally. 
The Dow Jones finished higher on Friday and we will likely see more small gains in our markets on Monday. The bargain hunters will likely step up only for the cycle to start again. There is a lot of doom & gloom in the media still, the Incredible Charts/Twiggs reports make very good reading.  Good luck 





The *A-REIT Table* for closing prices for Weekending * 22 January 2016 * follows:


	Code	 *	Closing Price	* 		Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Premium to NTA		           ABP  *	3.010	*​  1,667,064,923​  0.2546​  8.46%​  0.1697​  * 5.64%​ *  11.82​  2.49​  20.88%​  BWP  *	3.040	*​  1,952,846,761​  0.3284​  10.80%​  0.1577​  * 5.19%​ *  9.26​  2.24​  35.71%​  CHC  *	4.380	*​  1,792,135,215​  0.3280​  7.49%​  0.2420​  * 5.53%​ *  13.35​  2.76​  58.70%​  CQR  *	4.040	*​  1,579,830,842​  0.4355​  10.78%​  0.2750​  * 6.81%​ *  9.28​  3.59​  12.53%​  CMW  *	0.995	*​  1,735,963,980​  0.0858​  8.62%​  0.0791​  * 7.95%​ *  11.60​  0.65​  53.08%​  DXS  *	7.280	*​  7,060,824,935​  0.6758​  9.28%​  0.4104​  * 5.64%​ *  10.77​  6.68​  8.98%​  GMG  *	6.010	*​  10,638,290,867​  0.6920​  11.51%​  0.2220​  * 3.69%​ *  8.68​  3.46​  73.70%​  GOZ  *	2.980	*​  1,696,495,750​  0.2570​  8.62%​  0.1970​  * 6.61%​ *  11.60​  2.16​  37.96%​  GPT  *	4.720	*​  8,471,534,017​  0.4875​  10.33%​  0.2170​  * 4.60%​ *  9.68​  4.03​  17.12%​  IOF  *	3.850	*​  2,364,082,713​  0.2920​  7.58%​  0.1925​  * 5.00%​ *  13.18​  3.62​  6.35%​  MGR  *	1.835	*​  6,791,689,434​  0.1651​  9.00%​  0.0940​  * 5.12%​ *  11.11​  1.74​  5.46%​  NSR  *	1.465	*​  489,978,639​  -0.0045​  -0.31%​  0.0820​  * 5.60%​ *  -325.56​  1.11​  31.98%​  SCP  *	2.080	*​  1,507,723,551​  0.2290​  11.01%​  0.1140​  * 5.48%​ *  9.08​  1.77​  17.51%​  SCG  *	4.230	*​  22,521,774,948​  0.4448​  10.52%​  0.2065​  * 4.88%​ *  9.51​  3.11​  36.01%​  SGP  *	4.050	*​  9,628,948,799​  0.3850​  9.51%​  0.2400​  * 5.93%​ *  10.52​  3.68​  10.05%​  VCX  *	2.870	*​  11,361,327,325​  0.2556​  8.91%​  0.1690​  * 5.89%​ *  11.23​  2.45​  17.14%​  WFD  *	9.780	*​  20,323,717,129​  0.5427​  5.55%​  0.3285​  * 3.36%​ *  18.02​  4.99​  95.99%​ 



*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		15-Jan-16				22-Jan-16		  	Abacus Property	 ABP  2.970​  3.010​  0.04​  1.35%​ 	BWP Trust	 BWP  3.080​  3.040​  -0.04​  -1.30%​ 	Charter Hall	 CHC  4.340​  4.380​  0.04​  0.92%​ 	Charter Hall Retail	 CQR  3.980​  4.040​  0.06​  1.51%​ 	Cromwell	 CMW  0.985​  0.995​  0.01​  1.02%​ 	Dexus	 DXS  7.060​  7.280​  0.22​  3.12%​ 	Goodman Group	 GMG  5.950​  6.010​  0.06​  1.01%​ 	Growthpoint Properties	 GOZ  2.970​  2.980​  0.01​  0.34%​ 	GPT Group	 GPT  4.520​  4.720​  0.20​  4.42%​ 	Investa Office	 IOF  3.750​  3.850​  0.10​  2.67%​ 	Mirvac Group	 MGR  1.860​  1.835​  -0.03​  -1.34%​ 	National Storage	 NSR  1.470​  1.465​  0.00​  -0.34%​ 	SCA Property Group	 SCP  2.050​  2.080​  0.03​  1.46%​ 	Scentre Group	 SCG  4.130​  4.230​  0.10​  2.42%​ 	Stockland Property	 SGP  4.010​  4.050​  0.04​  1.00%​ 	Vicinity Centres	 VCX  2.820​  2.870​  0.05​  1.77%​ 	Westfield Corporation	 WFD  9.330​  9.780​  0.45​  *	4.82%	*​ 




*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector. 

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 23 October 2015, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 23 October 2015. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*5.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (31 January 2016)

*A-REIT Sector:  Weekending Friday 29 January 2016 *


Another interesting week with rises that seem to be out of step with the All-Ords and definitely the Dow Jones. Pushing back up toward the recent resistance levels the daily closes once again hide the intra-day volatility. Japan has moved to negative interest which will probably make for easy borrowings, some of which could find its way into the A-REIT sector where the yields are still very attractive. China, Japan, Europe, the Middle East are all unsettled and now George Soros is alleged to be betting against the Chinese Yaun Renminbi. We live in interesting times. 





The *A-REIT Table* for closing prices for Weekending * 29 January 2016 * follows:


	Code	 *	Closing Price	* 		Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Premium to NTA		           ABP  *	3.010	*​  1,667,064,923​  0.2546​  8.46%​  0.1697​  * 5.64%​ *  11.82​  2.49​  20.88%​  BWP  *	3.070	*​  1,972,118,275​  0.3284​  10.70%​  0.1577​  * 5.14%​ *  9.35​  2.24​  37.05%​  CHC  *	4.440	*​  1,816,685,012​  0.3280​  7.39%​  0.2420​  * 5.45%​ *  13.54​  2.76​  60.87%​  CQR  *	4.110	*​  1,607,204,148​  0.4355​  10.60%​  0.2750​  * 6.69%​ *  9.44​  3.59​  14.48%​  CMW  *	0.990	*​  1,727,240,543​  0.0858​  8.67%​  0.0791​  * 7.99%​ *  11.54​  0.65​  52.31%​  DXS  *	7.360	*​  7,138,416,418​  0.6758​  9.18%​  0.4104​  * 5.58%​ *  10.89​  6.68​  10.18%​  GMG  *	6.080	*​  10,762,197,749​  0.6920​  11.38%​  0.2220​  * 3.65%​ *  8.79​  3.46​  75.72%​  GOZ  *	3.020	*​  1,719,267,506​  0.2570​  8.51%​  0.1970​  * 6.52%​ *  11.75​  2.16​  39.81%​  GPT  *	4.880	*​  8,758,704,662​  0.4875​  9.99%​  0.2170​  * 4.45%​ *  10.01​  4.03​  21.09%​  IOF  *	3.900	*​  2,394,785,086​  0.2920​  7.49%​  0.1925​  * 4.94%​ *  13.36​  3.62​  7.73%​  MGR  *	1.900	*​  7,032,266,989​  0.1651​  8.69%​  0.0940​  * 4.95%​ *  11.51​  1.74​  9.20%​  NSR  *	1.500	*​  501,684,614​  -0.0045​  -0.30%​  0.0820​  * 5.47%​ *  -333.33​  1.11​  35.14%​  SCP  *	2.130	*​  1,543,966,906​  0.2290​  10.75%​  0.1140​  * 5.35%​ *  9.30​  1.77​  20.34%​  SCG  *	4.350	*​  23,160,690,549​  0.4448​  10.23%​  0.2065​  * 4.75%​ *  9.78​  3.11​  39.87%​  SGP  *	4.090	*​  9,724,049,528​  0.3850​  9.41%​  0.2400​  * 5.87%​ *  10.62​  3.68​  11.14%​  VCX  *	2.910	*​  11,519,673,351​  0.2556​  8.78%​  0.1690​  * 5.81%​ *  11.38​  2.45​  18.78%​  WFD  *	9.900	*​  20,573,087,891​  0.5427​  5.48%​  0.3285​  * 3.32%​ *  18.24​  4.99​  98.40%​ 



*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		22-Jan-16				29-Jan-16		  	Abacus Property	 ABP  3.010​  3.010​  0.00​  0.00%​ 	BWP Trust	 BWP  3.040​  3.070​  0.03​  0.99%​ 	Charter Hall	 CHC  4.380​  4.440​  0.06​  1.37%​ 	Charter Hall Retail	 CQR  4.040​  4.110​  0.07​  1.73%​ 	Cromwell	 CMW  0.995​  0.990​  -0.01​  -0.50%​ 	Dexus	 DXS  7.280​  7.360​  0.08​  1.10%​ 	Goodman Group	 GMG  6.010​  6.080​  0.07​  1.16%​ 	Growthpoint Properties	 GOZ  2.980​  3.020​  0.04​  1.34%​ 	GPT Group	 GPT  4.720​  4.880​  0.16​  3.39%​ 	Investa Office	 IOF  3.850​  3.900​  0.05​  1.30%​ 	Mirvac Group	 MGR  1.835​  1.900​  0.06​  *	3.54%	*​ 	National Storage	 NSR  1.465​  1.500​  0.03​  2.39%​ 	SCA Property Group	 SCP  2.080​  2.130​  0.05​  2.40%​ 	Scentre Group	 SCG  4.230​  4.350​  0.12​  2.84%​ 	Stockland Property	 SGP  4.050​  4.090​  0.04​  0.99%​ 	Vicinity Centres	 VCX  2.870​  2.910​  0.04​  1.39%​ 	Westfield Corporation	 WFD  9.780​  9.900​  0.12​  1.23%​ 




*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector. 

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 23 October 2015, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 23 October 2015. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*5.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## Logique (1 February 2016)

Thanks Nulla, the sector certainly does has defensive characteristics, which as you say, should add to it's attractiveness now.

Japan - it takes some getting one's head around the concept of _negative_ interest rates.


----------



## nulla nulla (6 February 2016)

*A-REIT Sector:  Weekending Friday 05 February 2016 *


I think there has been (and is possibly still going on) a definite move from resource and materials shares to the "safe" haven of better yield shares such as those in the A-REIT sector. The rise in the sector value is well and truly out of sync with the All-Ords and the Dow Jones. Japanese negative interest, making for easy borrowings, is probably behind some of the recent influx of investment in the A-REIT sector (where the yields are still very attractive). 

This happened last year as well around February, before the sector collapsed in March and trended down to the lows of August.  The A-REIT sector appears poised to move to new highs however the overnight reaction of the Dow Jones to the latest US Jobs Report could be a signal for further volatility next week.

*All-Ords as at 05 February 2016:*



*Property Sector as at 05 February 2016: *




The *A-REIT Table* for closing prices for Weekending * 05 February 2016 * follows:


	Code	 *	Closing Price	* 		Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Premium to NTA		           ABP  *	2.970	*​  1,644,911,236​  0.2546​  8.57%​  0.1697​  * 5.71%​ *  11.67​  2.49​  19.28%​  BWP  *	3.110	*​  1,997,813,627​  0.3284​  10.56%​  0.1637​  * 5.26%​ *  9.47​  2.24​  38.84%​  CHC  *	4.470	*​  1,828,959,911​  0.3280​  7.34%​  0.2540​  * 5.68%​ *  13.63​  2.76​  61.96%​  CQR  *	4.250	*​  1,708,717,910​  0.4355​  10.25%​  0.2780​  * 6.54%​ *  9.76​  3.59​  18.38%​  CMW  *	1.005	*​  1,756,442,874​  0.0858​  8.54%​  0.0797​  * 7.93%​ *  11.71​  0.65​  54.62%​  DXS  *	7.480	*​  7,240,248,736​  0.6758​  9.03%​  0.4441​  * 5.94%​ *  11.07​  6.68​  11.98%​  GMG  *	6.030	*​  10,673,692,833​  0.6920​  11.48%​  0.2300​  * 3.81%​ *  8.71​  3.46​  74.28%​  GOZ  *	3.070	*​  1,747,857,259​  0.2570​  8.37%​  0.2010​  * 6.55%​ *  11.95​  2.16​  42.13%​  GPT  *	4.920	*​  8,830,497,323​  0.4875​  9.91%​  0.2250​  * 4.57%​ *  10.09​  4.03​  22.08%​  IOF  *	4.000	*​  2,456,189,832​  0.2920​  7.30%​  0.1950​  * 4.88%​ *  13.70​  3.62​  10.50%​  MGR  *	1.895	*​  7,013,761,023​  0.1651​  8.71%​  0.0960​  * 5.07%​ *  11.48​  1.74​  8.91%​  NSR  *	1.550	*​  518,407,434​  -0.0045​  -0.29%​  0.0850​  * 5.48%​ *  -344.44​  1.11​  39.64%​  SCP  *	2.190	*​  1,606,124,393​  0.2290​  10.46%​  0.1180​  * 5.39%​ *  9.56​  1.77​  23.73%​  SCG  *	4.410	*​  23,480,148,350​  0.4448​  10.09%​  0.2065​  * 4.68%​ *  9.91​  3.11​  41.80%​  SGP  *	4.150	*​  9,866,700,621​  0.3850​  9.28%​  0.2420​  * 5.83%​ *  10.78​  3.68​  12.77%​  VCX  *	2.950	*​  11,678,019,376​  0.2556​  8.66%​  0.1730​  * 5.86%​ *  11.54​  2.45​  20.41%​  WFD  *	10.080	*​  20,947,144,035​  0.5427​  5.38%​  0.3285​  * 3.26%​ *  18.57​  4.99​  102.00%​ 



*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		29-Jan-16				05-Feb-16		  	Abacus Property	 ABP  3.010​  2.970​  -0.04​  -1.33%​ 	BWP Trust	 BWP  3.070​  3.110​  0.04​  1.30%​ 	Charter Hall	 CHC  4.440​  4.470​  0.03​  0.68%​ 	Charter Hall Retail	 CQR  4.110​  4.250​  0.14​  *	3.41%	*​ 	Cromwell	 CMW  0.990​  1.005​  0.01​  1.52%​ 	Dexus	 DXS  7.360​  7.480​  0.12​  1.63%​ 	Goodman Group	 GMG  6.080​  6.030​  -0.05​  -0.82%​ 	Growthpoint Properties	 GOZ  3.020​  3.070​  0.05​  1.66%​ 	GPT Group	 GPT  4.880​  4.920​  0.04​  0.82%​ 	Investa Office	 IOF  3.900​  4.000​  0.10​  2.56%​ 	Mirvac Group	 MGR  1.900​  1.895​  0.00​  -0.26%​ 	National Storage	 NSR  1.500​  1.550​  0.05​  3.33%​ 	SCA Property Group	 SCP  2.130​  2.190​  0.06​  2.82%​ 	Scentre Group	 SCG  4.350​  4.410​  0.06​  1.38%​ 	Stockland Property	 SGP  4.090​  4.150​  0.06​  1.47%​ 	Vicinity Centres	 VCX  2.910​  2.950​  0.04​  1.37%​ 	Westfield Corporation	 WFD  9.900​  10.080​  0.18​  1.82%​ 




*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector. 

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 05 February 2016, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 05 February 2016. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*5.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (14 February 2016)

*A-REIT Sector:  Weekending Friday 12 February 2016 *


The Dow Jones reaction last week, to the latest US Jobs Report, was initially hard to understand as the report was a good one. Turns out the report was interpreted by the market as a possible trigger for another hike in the US interest rates. Then oil dropped back below $30.00 triggering further market falls. 

Banks around the world are taking a hammering. Deutsche Bank went as far as issuing a release that they are will not have any trouble settling bonds falling due in 2017. Instead of reassuring the market this release reminded the market of Lehman Bros doing something similar before they collapsed, and the sell down continued. On a local level CBA issued an update confirming no change to their dividend, however the local market was not convinced and local analysts consider there is further downside in the share prices of the big four Australian banks. China is alleged to be selling off foreign reserves to prop up the yaun/renmimbi. Mind you they still have 3 Trillion US$ back up left. Chinese investors are reported to be investing now in gold, as an alternative to foreign property, driving up the gold price.

The current pattern of lower lows and lower highs in the markets suggests to me that any rebound is likely a "dead cat" bounce and not the start of a recovery. The A-REIT sector is still moving sideways. Yield rates at the present share price levels are probably the only thing saving this sector from the same level of retrace as the rest of the market. The bears are well and truly driving the markets at present. The consensus appears to be that things are going to get worse before they get better. Good luck.


*Property Sector as at 12 February 2016: *




The *A-REIT Table* for closing prices for Weekending * 12 February 2016 * follows:


	Code	 *	Closing Price	* 		Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Premium to NTA		           ABP  *	2.870	*​  1,589,527,019​  0.2546​  8.87%​  0.1697​  * 5.91%​ *  11.27​  2.49​  15.26%​  BWP  *	3.050	*​  1,959,270,599​  0.3284​  10.77%​  0.1637​  * 5.37%​ *  9.29​  2.24​  36.16%​  CHC  *	4.320	*​  1,767,585,417​  0.3280​  7.59%​  0.2540​  * 5.88%​ *  13.17​  2.76​  56.52%​  CQR  *	4.160	*​  1,672,533,296​  0.4355​  10.47%​  0.2780​  * 6.68%​ *  9.55​  3.59​  15.88%​  CMW  *	0.975	*​  1,704,011,743​  0.0858​  8.80%​  0.0797​  * 8.17%​ *  11.36​  0.65​  50.00%​  DXS  *	7.180	*​  6,949,864,429​  0.6758​  9.41%​  0.4441​  * 6.19%​ *  10.62​  6.68​  7.49%​  GMG  *	6.350	*​  11,240,124,294​  0.6920​  10.90%​  0.2300​  * 3.62%​ *  9.18​  3.46​  83.53%​  GOZ  *	3.030	*​  1,725,083,874​  0.2570​  8.48%​  0.2010​  * 6.63%​ *  11.79​  2.16​  40.28%​  GPT  *	4.880	*​  8,758,704,662​  0.4875​  9.99%​  0.2250​  * 4.61%​ *  10.01​  4.03​  21.09%​  IOF  *	3.890	*​  2,388,644,612​  0.2920​  7.51%​  0.1950​  * 5.01%​ *  13.32​  3.62​  7.46%​  MGR  *	1.835	*​  6,791,689,434​  0.1651​  9.00%​  0.0960​  * 5.23%​ *  11.11​  1.74​  5.46%​  NSR  *	1.455	*​  486,634,075​  -0.0045​  -0.31%​  0.0850​  * 5.84%​ *  -323.33​  1.11​  31.08%​  SCP  *	2.150	*​  1,576,788,788​  0.2290​  10.65%​  0.1180​  * 5.49%​ *  9.39​  1.77​  21.47%​  SCG  *	4.350	*​  23,160,690,549​  0.4448​  10.23%​  0.2065​  * 4.75%​ *  9.78​  3.11​  39.87%​  SGP  *	3.990	*​  9,486,297,706​  0.3850​  9.65%​  0.2420​  * 6.07%​ *  10.36​  3.68​  8.42%​  VCX  *	2.920	*​  11,559,259,857​  0.2556​  8.75%​  0.1730​  * 5.92%​ *  11.42​  2.45​  19.18%​  WFD  *	9.560	*​  19,866,537,398​  0.5427​  5.68%​  0.3285​  * 3.44%​ *  17.62​  4.99​  91.58%​ 



*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		05-Feb-16				12-Feb-16		  	Abacus Property	 ABP  2.970​  2.870​  -0.10​  -3.37%​ 	BWP Trust	 BWP  3.110​  3.050​  -0.06​  -1.93%​ 	Charter Hall	 CHC  4.470​  4.320​  -0.15​  -3.36%​ 	Charter Hall Retail	 CQR  4.250​  4.160​  -0.09​  -2.12%​ 	Cromwell	 CMW  1.005​  0.975​  -0.03​  -2.99%​ 	Dexus	 DXS  7.480​  7.180​  -0.30​  -4.01%​ 	Goodman Group	 GMG  6.030​  6.350​  0.32​  *	5.31%	*​ 	Growthpoint Properties	 GOZ  3.070​  3.030​  -0.04​  -1.30%​ 	GPT Group	 GPT  4.920​  4.880​  -0.04​  -0.81%​ 	Investa Office	 IOF  4.000​  3.890​  -0.11​  -2.75%​ 	Mirvac Group	 MGR  1.895​  1.835​  -0.06​  -3.17%​ 	National Storage	 NSR  1.550​  1.455​  -0.10​  *	-6.13%	*​ 	SCA Property Group	 SCP  2.190​  2.150​  -0.04​  -1.83%​ 	Scentre Group	 SCG  4.410​  4.350​  -0.06​  -1.36%​ 	Stockland Property	 SGP  4.150​  3.990​  -0.16​  -3.86%​ 	Vicinity Centres	 VCX  2.950​  2.920​  -0.03​  -1.02%​ 	Westfield Corporation	 WFD  10.080​  9.560​  -0.52​  -5.16%​ 




*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector. 

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 05 February 2016, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 05 February 2016. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*5.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (20 February 2016)

*A-REIT Sector:  Weekending Friday 19 February 2016 *


The A-REIT sector is still moving sideways but creeping upwards. There are still good yield rates among the shares and the price/earnings ratios are still comparatively low. The Dow Jones (and the All-Ords) had a good rebound early in the week but faltered toward the end of the week. Oil continues to fluctuate in price as the heavy weight oil producers bicker as to which countries should reduce production. The Pope has faced of against Donald Trump. Yelland has indicated that the planned interest rate increases for 2016 may be delayed pending better global economic conditions. The UK is negotiating with the European Union Members as to the basis on which the UK will stay as part of the European Union. Russia is threatening another cold war with the US over Syria. China is flexing its military muscles in the islands off South East Asia. North Korea has a new missile to launch satellites. 

All of this contributes to continued volatility in the share market.  Good luck.


*Property Sector as at 19 February 2016:* 





The *A-REIT Table* for closing prices for Weekending * 19 February 2016 * follows:


	Code	 *	Closing Price	* 		Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Premium to NTA		           ABP  *	2.910	*​  1,611,680,706​  0.2546​  8.75%​  0.1697​  * 5.83%​ *  11.43​  2.49​  16.87%​  BWP  *	3.160	*​  2,029,932,817​  0.3284​  10.39%​  0.1637​  * 5.18%​ *  9.62​  2.24​  41.07%​  CHC  *	4.410	*​  1,804,410,113​  0.3280​  7.44%​  0.2540​  * 5.76%​ *  13.45​  2.76​  59.78%​  CQR  *	4.270	*​  1,716,758,936​  0.4355​  10.20%​  0.2780​  * 6.51%​ *  9.80​  3.59​  18.94%​  CMW  *	0.985	*​  1,721,488,787​  0.0858​  8.71%​  0.0797​  * 8.09%​ *  11.48​  0.65​  51.54%​  DXS  *	7.360	*​  7,124,095,013​  0.6758​  9.18%​  0.4441​  * 6.03%​ *  10.89​  6.68​  10.18%​  GMG  *	6.510	*​  11,523,340,024​  0.6920​  10.63%​  0.2300​  * 3.53%​ *  9.41​  3.46​  88.15%​  GOZ  *	3.090	*​  1,759,243,951​  0.2570​  8.32%​  0.2010​  * 6.50%​ *  12.02​  2.16​  43.06%​  GPT  *	4.940	*​  8,866,393,653​  0.4875​  9.87%​  0.2250​  * 4.55%​ *  10.13​  4.03​  22.58%​  IOF  *	3.900	*​  2,394,785,086​  0.2920​  7.49%​  0.1950​  * 5.00%​ *  13.36​  3.62​  7.73%​  MGR  *	1.865	*​  6,902,725,228​  0.1651​  8.85%​  0.0960​  * 5.15%​ *  11.30​  1.74​  7.18%​  NSR  *	1.530	*​  511,718,306​  -0.0045​  -0.29%​  0.0850​  * 5.56%​ *  -340.00​  1.11​  37.84%​  SCP  *	2.250	*​  1,650,127,802​  0.2290​  10.18%​  0.1180​  * 5.24%​ *  9.83​  1.77​  27.12%​  SCG  *	4.510	*​  24,012,578,018​  0.4448​  9.86%​  0.2065​  * 4.58%​ *  10.14​  3.11​  45.02%​  SGP  *	4.270	*​  10,152,002,808​  0.3850​  9.02%​  0.2420​  * 5.67%​ *  11.09​  3.68​  16.03%​  VCX  *	3.020	*​  11,955,124,921​  0.2556​  8.46%​  0.1730​  * 5.73%​ *  11.82​  2.45​  23.27%​  WFD  *	9.630	*​  20,012,003,676​  0.5427​  5.64%​  0.3285​  * 3.41%​ *  17.74​  4.99​  92.99%​ 



*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		12-Feb-16				12-Feb-16		  	Abacus Property	 ABP  2.870​  2.910​  0.04​  1.39%​ 	BWP Trust	 BWP  3.050​  3.160​  0.11​  3.61%​ 	Charter Hall	 CHC  4.320​  4.410​  0.09​  2.08%​ 	Charter Hall Retail	 CQR  4.160​  4.270​  0.11​  2.64%​ 	Cromwell	 CMW  0.975​  0.985​  0.01​  1.03%​ 	Dexus	 DXS  7.180​  7.360​  0.18​  2.51%​ 	Goodman Group	 GMG  6.350​  6.510​  0.16​  2.52%​ 	Growthpoint Properties	 GOZ  3.030​  3.090​  0.06​  1.98%​ 	GPT Group	 GPT  4.880​  4.940​  0.06​  1.23%​ 	Investa Office	 IOF  3.890​  3.900​  0.01​  0.26%​ 	Mirvac Group	 MGR  1.835​  1.865​  0.03​  1.63%​ 	National Storage	 NSR  1.455​  1.530​  0.08​  5.15%​ 	SCA Property Group	 SCP  2.150​  2.250​  0.10​  4.65%​ 	Scentre Group	 SCG  4.350​  4.510​  0.16​  3.68%​ 	Stockland Property	 SGP  3.990​  4.270​  0.28​  *	7.02%	*​ 	Vicinity Centres	 VCX  2.920​  3.020​  0.10​  3.42%​ 	Westfield Corporation	 WFD  9.560​  9.630​  0.07​  0.73%​ 




*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector. 

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 05 February 2016, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 05 February 2016. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*5.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (28 February 2016)

*A-REIT Sector:  Weekending Friday 26 February 2016 *


The A-REIT sector continues to move sideways and upwards in sharp contrast to the All-Ords and the rest of the markets. How long can this last? The A-REIT sector is now testing the 5 year highs of March last year. Then it was fueled by low interest rates in Japan (and the highs didn't last too long) and while there has been a repeat this year of the low interest rates in Japan there also appears to be a flight to safety as investors flee the resources and financial sectors.

The interesting thing this time is that some of the performers last year are still at much lower share prices than their previous peaks. They aren't hard to find (there are only 17 shares in the sector, likely soon to be 16) and their yields, price/earnings etc are still relatively attractive.   Monday could be interesting if there is any portfolio reweighting adding to the volatility. Good luck.

*Property Sector as at 26 February 2016:* 





The *A-REIT Table* for closing prices for Weekending * 26 February 2016 * follows:


	Code	 *	Closing Price	* 		Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Premium to NTA		           ABP  *	2.880	*​  1,595,065,441​  0.2546​  8.84%​  0.1697​  * 5.89%​ *  11.31​  2.49​  15.66%​  BWP  *	3.260	*​  2,094,171,198​  0.3284​  10.07%​  0.1637​  * 5.02%​ *  9.93​  2.24​  45.54%​  CHC  *	4.460	*​  1,824,868,278​  0.3280​  7.35%​  0.2540​  * 5.70%​ *  13.60​  2.76​  61.59%​  CQR  *	4.330	*​  1,740,882,012​  0.4355​  10.06%​  0.2780​  * 6.42%​ *  9.94​  3.59​  20.61%​  CMW  *	1.025	*​  1,791,396,961​  0.0858​  8.37%​  0.0797​  * 7.78%​ *  11.95​  0.65​  57.69%​  DXS  *	7.520	*​  7,278,966,644​  0.6758​  8.99%​  0.4441​  * 5.91%​ *  11.13​  6.68​  12.57%​  GMG  *	6.530	*​  11,558,741,990​  0.6920​  10.60%​  0.2300​  * 3.52%​ *  9.44​  3.46​  88.73%​  GOZ  *	3.070	*​  1,747,857,259​  0.2570​  8.37%​  0.2010​  * 6.55%​ *  11.95​  2.16​  42.13%​  GPT  *	4.970	*​  8,920,238,149​  0.4875​  9.81%​  0.2250​  * 4.53%​ *  10.19​  4.03​  23.33%​  IOF  *	3.980	*​  2,443,908,883​  0.2920​  7.34%​  0.1950​  * 4.90%​ *  13.63​  3.62​  9.94%​  MGR  *	1.835	*​  6,791,689,434​  0.1651​  9.00%​  0.0960​  * 5.23%​ *  11.11​  1.74​  5.46%​  NSR  *	1.530	*​  511,718,306​  -0.0045​  -0.29%​  0.0850​  * 5.56%​ *  -340.00​  1.11​  37.84%​  SCP  *	2.270	*​  1,664,795,604​  0.2290​  10.09%​  0.1180​  * 5.20%​ *  9.91​  1.77​  28.25%​  SCG  *	4.420	*​  23,533,391,317​  0.4448​  10.06%​  0.2065​  * 4.67%​ *  9.94​  3.11​  42.12%​  SGP  *	4.200	*​  9,985,576,532​  0.3850​  9.17%​  0.2420​  * 5.76%​ *  10.91​  3.68​  14.13%​  VCX  *	3.120	*​  12,350,989,984​  0.2556​  8.19%​  0.1730​  * 5.54%​ *  12.21​  2.45​  27.35%​  WFD  *	9.970	*​  20,718,554,169​  0.5427​  5.44%​  0.3285​  * 3.29%​ *  18.37​  4.99​  99.80%​ 



*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		19-Feb-16				26-Feb-16		  	Abacus Property	 ABP  2.910​  2.880​  -0.03​  -1.03%​ 	BWP Trust	 BWP  3.160​  3.260​  0.10​  3.16%​ 	Charter Hall	 CHC  4.410​  4.460​  0.05​  1.13%​ 	Charter Hall Retail	 CQR  4.270​  4.330​  0.06​  1.41%​ 	Cromwell	 CMW  0.985​  1.025​  0.04​  4.06%​ 	Dexus	 DXS  7.360​  7.520​  0.16​  2.17%​ 	Goodman Group	 GMG  6.510​  6.530​  0.02​  0.31%​ 	Growthpoint Properties	 GOZ  3.090​  3.070​  -0.02​  -0.65%​ 	GPT Group	 GPT  4.940​  4.970​  0.03​  0.61%​ 	Investa Office	 IOF  3.900​  3.980​  0.08​  2.05%​ 	Mirvac Group	 MGR  1.865​  1.835​  -0.03​  -1.61%​ 	National Storage	 NSR  1.530​  1.530​  0.00​  0.00%​ 	SCA Property Group	 SCP  2.250​  2.270​  0.02​  0.89%​ 	Scentre Group	 SCG  4.510​  4.420​  -0.09​  -2.00%​ 	Stockland Property	 SGP  4.270​  4.200​  -0.07​  -1.64%​ 	Vicinity Centres	 VCX  3.020​  3.120​  0.10​  3.31%​ 	Westfield Corporation	 WFD  9.630​  9.970​  0.34​  3.53%​ 




*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector. 

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 05 February 2016, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 05 February 2016. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*5.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## Toyota Lexcen (29 February 2016)

thanks nulla nulla

property, property, property

it is strange that the property trusts are doing reasonably well, with the economy supposedly on its knees the trusts are holding up

M & A in the sector has helped i feel


----------



## nulla nulla (6 March 2016)

*A-REIT Sector:  Weekending Friday 04 March 2016 *


The A-REIT sector closed down 1.26% for the week. This doesn't seem all that bad for a weeks trading but in the preceding four days (Monday to Thursday) the A-REIT sector had actually gained a further 1.87% on last weeks close.  The fall on Friday wiped out a total of 3.13%  on the day erasing two weeks of steady gains.  Financials and mining were up on Friday, maybe some of the investors seeking security in the A-REIT's have decided it was time to go back to the other sectors?  This certainly makes for volatility.  Good luck.





The *A-REIT Table* for closing prices for Weekending * 04 March 2016 * follows:


	Code	 *	Closing Price	* 		Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Premium to NTA		           ABP  *	2.930	*​  1,622,757,549​  0.2546​  8.69%​  0.1697​  * 5.79%​ *  11.51​  2.49​  17.67%​  BWP  *	3.220	*​  2,068,475,846​  0.3284​  10.20%​  0.1637​  * 5.08%​ *  9.81​  2.24​  43.75%​  CHC  *	4.460	*​  1,824,868,278​  0.3280​  7.35%​  0.2540​  * 5.70%​ *  13.60​  2.76​  61.59%​  CQR  *	4.320	*​  1,736,861,499​  0.4355​  10.08%​  0.2780​  * 6.44%​ *  9.92​  3.59​  20.33%​  CMW  *	1.005	*​  1,756,442,874​  0.0858​  8.54%​  0.0797​  * 7.93%​ *  11.71​  0.65​  54.62%​  DXS  *	7.530	*​  7,288,646,121​  0.6758​  8.97%​  0.4441​  * 5.90%​ *  11.14​  6.68​  12.72%​  GMG  *	6.440	*​  11,399,433,142​  0.6920​  10.75%​  0.2300​  * 3.57%​ *  9.31​  3.46​  86.13%​  GOZ  *	3.040	*​  1,730,777,220​  0.2570​  8.45%​  0.2010​  * 6.61%​ *  11.83​  2.16​  40.74%​  GPT  *	4.870	*​  8,740,756,496​  0.4875​  10.01%​  0.2250​  * 4.62%​ *  9.99​  4.03​  20.84%​  IOF  *	3.940	*​  2,419,346,985​  0.2920​  7.41%​  0.1950​  * 4.95%​ *  13.49​  3.62​  8.84%​  MGR  *	1.855	*​  6,865,713,297​  0.1651​  8.90%​  0.0960​  * 5.18%​ *  11.24​  1.74​  6.61%​  NSR  *	1.520	*​  508,373,742​  -0.0045​  -0.30%​  0.0850​  * 5.59%​ *  -337.78​  1.11​  36.94%​  SCP  *	2.210	*​  1,620,792,196​  0.2290​  10.36%​  0.1180​  * 5.34%​ *  9.65​  1.77​  24.86%​  SCG  *	4.310	*​  22,947,718,682​  0.4448​  10.32%​  0.2065​  * 4.79%​ *  9.69​  3.11​  38.59%​  SGP  *	4.150	*​  9,866,700,621​  0.3850​  9.28%​  0.2420​  * 5.83%​ *  10.78​  3.68​  12.77%​  VCX  *	3.030	*​  11,994,711,427​  0.2556​  8.44%​  0.1730​  * 5.71%​ *  11.85​  2.45​  23.67%​  WFD  *	9.910	*​  20,593,868,788​  0.5427​  5.48%​  0.3285​  * 3.31%​ *  18.26​  4.99​  98.60%​ 



*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		26-Feb-16				04-Mar-16		  	Abacus Property	 ABP  2.880​  2.930​  0.05​  1.74%​ 	BWP Trust	 BWP  3.260​  3.220​  -0.04​  -1.23%​ 	Charter Hall	 CHC  4.460​  4.460​  0.00​  0.00%​ 	Charter Hall Retail	 CQR  4.330​  4.320​  -0.01​  -0.23%​ 	Cromwell	 CMW  1.025​  1.005​  -0.02​  -1.95%​ 	Dexus	 DXS  7.520​  7.530​  0.01​  0.13%​ 	Goodman Group	 GMG  6.530​  6.440​  -0.09​  -1.38%​ 	Growthpoint Properties	 GOZ  3.070​  3.040​  -0.03​  -0.98%​ 	GPT Group	 GPT  4.970​  4.870​  -0.10​  -2.01%​ 	Investa Office	 IOF  3.980​  3.940​  -0.04​  -1.01%​ 	Mirvac Group	 MGR  1.835​  1.855​  0.02​  1.09%​ 	National Storage	 NSR  1.530​  1.520​  -0.01​  -0.65%​ 	SCA Property Group	 SCP  2.270​  2.210​  -0.06​  -2.64%​ 	Scentre Group	 SCG  4.420​  4.310​  -0.11​  -2.49%​ 	Stockland Property	 SGP  4.200​  4.150​  -0.05​  -1.19%​ 	Vicinity Centres	 VCX  3.120​  3.030​  -0.09​  -2.88%​ 	Westfield Corporation	 WFD  9.970​  9.910​  -0.06​  -0.60%​ 




*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector. 

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 05 February 2016, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 05 February 2016. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*5.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (13 March 2016)

*A-REIT Sector:  Weekending Friday 11 March 2016 *


The A-REIT sector rebounded for week ending 11 March 2016, finishing up 2.44% for the week. The sector is once again testing 5 year highs. The Aud$ went up, the Chinese government relaxed their banking rules to encourage lending, the Central European Banks are trying to stimulate investment/lending and euphoria appears to have snuck out of the cupboards. 

With some shares tickling six year highs (and others dragging a chain) I am reminded of Buffets philosophy of being bold when others are afraid and afraid when others are bold. The experts can't make up their minds as to whether there is a big down turn coming or this is the start of a recovery.  All adds to the volatility but at these levels I am increasingly wary of getting in on a dip only to find out it is the start of a rout. Good luck.





The *A-REIT Table* for closing prices for Weekending * 11 March 2016 * follows:


	Code	 *	Closing Price	* 		Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Premium to NTA		           ABP  *	2.950	*​  1,633,834,393​  0.2546​  8.63%​  0.1697​  * 5.75%​ *  11.59​  2.49​  18.47%​  BWP  *	3.300	*​  2,119,866,550​  0.3284​  9.95%​  0.1637​  * 4.96%​ *  10.05​  2.24​  47.32%​  CHC  *	4.600	*​  1,882,151,139​  0.3280​  7.13%​  0.2540​  * 5.52%​ *  14.02​  2.76​  66.67%​  CQR  *	4.380	*​  1,760,984,576​  0.4355​  9.94%​  0.2780​  * 6.35%​ *  10.06​  3.59​  22.01%​  CMW  *	1.010	*​  1,765,181,396​  0.0858​  8.50%​  0.0797​  * 7.89%​ *  11.77​  0.65​  55.38%​  DXS  *	7.830	*​  7,579,030,428​  0.6758​  8.63%​  0.4441​  * 5.67%​ *  11.59​  6.68​  17.22%​  GMG  *	6.720	*​  11,895,060,670​  0.6920​  10.30%​  0.2300​  * 3.42%​ *  9.71​  3.46​  94.22%​  GOZ  *	3.060	*​  1,742,163,913​  0.2570​  8.40%​  0.2010​  * 6.57%​ *  11.91​  2.16​  41.67%​  GPT  *	4.940	*​  8,866,393,653​  0.4875​  9.87%​  0.2250​  * 4.55%​ *  10.13​  4.03​  22.58%​  IOF  *	4.130	*​  2,536,016,002​  0.2920​  7.07%​  0.1950​  * 4.72%​ *  14.14​  3.62​  14.09%​  MGR  *	1.865	*​  6,902,725,228​  0.1651​  8.85%​  0.0960​  * 5.15%​ *  11.30​  1.74​  7.18%​  NSR  *	1.595	*​  533,457,972​  -0.0045​  -0.28%​  0.0850​  * 5.33%​ *  -354.44​  1.11​  43.69%​  SCP  *	2.240	*​  1,642,793,900​  0.2290​  10.22%​  0.1180​  * 5.27%​ *  9.78​  1.77​  26.55%​  SCG  *	4.440	*​  23,639,877,250​  0.4448​  10.02%​  0.2065​  * 4.65%​ *  9.98​  3.11​  42.77%​  SGP  *	4.260	*​  10,128,227,626​  0.3850​  9.04%​  0.2420​  * 5.68%​ *  11.06​  3.68​  15.76%​  VCX  *	3.120	*​  12,350,989,984​  0.2556​  8.19%​  0.1730​  * 5.54%​ *  12.21​  2.45​  27.35%​  WFD  *	10.000	*​  20,780,896,860​  0.5427​  5.43%​  0.3285​  * 3.29%​ *  18.43​  4.99​  100.40%​ 



*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		04-Mar-16				11-Mar-16		  	Abacus Property	 ABP  2.930​  2.950​  0.02​  0.68%​ 	BWP Trust	 BWP  3.220​  3.300​  0.08​  2.48%​ 	Charter Hall	 CHC  4.460​  4.600​  0.14​  3.14%​ 	Charter Hall Retail	 CQR  4.320​  4.380​  0.06​  1.39%​ 	Cromwell	 CMW  1.005​  1.010​  0.01​  0.50%​ 	Dexus	 DXS  7.530​  7.830​  0.30​  3.98%​ 	Goodman Group	 GMG  6.440​  6.720​  0.28​  4.35%​ 	Growthpoint Properties	 GOZ  3.040​  3.060​  0.02​  0.66%​ 	GPT Group	 GPT  4.870​  4.940​  0.07​  1.44%​ 	Investa Office	 IOF  3.940​  4.130​  0.19​  *	4.82%	*​ 	Mirvac Group	 MGR  1.855​  1.865​  0.01​  0.54%​ 	National Storage	 NSR  1.520​  1.595​  0.08​  4.93%​ 	SCA Property Group	 SCP  2.210​  2.240​  0.03​  1.36%​ 	Scentre Group	 SCG  4.310​  4.440​  0.13​  3.02%​ 	Stockland Property	 SGP  4.150​  4.260​  0.11​  2.65%​ 	Vicinity Centres	 VCX  3.030​  3.120​  0.09​  2.97%​ 	Westfield Corporation	 WFD  9.910​  10.000​  0.09​  0.91%​ 



*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector. 

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 05 February 2016, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 05 February 2016. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*5.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (20 March 2016)

*A-REIT Sector:  Weekending Friday 18 March 2016 *


The A-REIT sector is still tracking sideways and trying for upwards. However it appears to be meeting resistance at the 13.60 level. Share prices for the individual companies making up the sector continue to swing back and forth providing plenty of trade opportunities for those brave and/or insane enough to trade the tight spreads at these price levels.  Good luck.





The *A-REIT Table* for closing prices for Weekending * 18 March 2016 * follows:


	Code	 *	Closing Price	* 		Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Premium to NTA		           ABP  *	3.020	*​  1,672,603,344​  0.2546​  8.43%​  0.1697​  * 5.62%​ *  11.86​  2.49​  21.29%​  BWP  *	3.400	*​  2,184,104,930​  0.3284​  9.66%​  0.1637​  * 4.81%​ *  10.35​  2.24​  51.79%​  CHC  *	4.700	*​  1,923,067,468​  0.3280​  6.98%​  0.2540​  * 5.40%​ *  14.33​  2.76​  70.29%​  CQR  *	4.480	*​  1,801,189,703​  0.4355​  9.72%​  0.2780​  * 6.21%​ *  10.29​  3.59​  24.79%​  CMW  *	1.050	*​  1,835,089,570​  0.0858​  8.17%​  0.0797​  * 7.59%​ *  12.24​  0.65​  61.54%​  DXS  *	7.940	*​  7,685,504,674​  0.6758​  8.51%​  0.4441​  * 5.59%​ *  11.75​  6.68​  18.86%​  GMG  *	6.700	*​  11,859,658,704​  0.6920​  10.33%​  0.2300​  * 3.43%​ *  9.68​  3.46​  93.64%​  GOZ  *	3.150	*​  1,793,404,028​  0.2570​  8.16%​  0.2010​  * 6.38%​ *  12.26​  2.16​  45.83%​  GPT  *	4.900	*​  8,794,600,992​  0.4875​  9.95%​  0.2250​  * 4.59%​ *  10.05​  4.03​  21.59%​  IOF  *	4.180	*​  2,566,718,374​  0.2920​  6.99%​  0.1950​  * 4.67%​ *  14.32​  3.62​  15.47%​  MGR  *	1.885	*​  6,976,749,092​  0.1651​  8.76%​  0.0960​  * 5.09%​ *  11.42​  1.74​  8.33%​  NSR  *	1.610	*​  538,474,818​  -0.0045​  -0.28%​  0.0850​  * 5.28%​ *  -357.78​  1.11​  45.05%​  SCP  *	2.290	*​  1,679,463,407​  0.2290​  10.00%​  0.1180​  * 5.15%​ *  10.00​  1.77​  29.38%​  SCG  *	4.360	*​  23,213,933,516​  0.4448​  10.20%​  0.2065​  * 4.74%​ *  9.80​  3.11​  40.19%​  SGP  *	4.220	*​  10,033,126,897​  0.3850​  9.12%​  0.2420​  * 5.73%​ *  10.96​  3.68​  14.67%​  VCX  *	3.120	*​  12,350,989,984​  0.2556​  8.19%​  0.1730​  * 5.54%​ *  12.21​  2.45​  27.35%​  WFD  *	9.920	*​  20,614,649,685​  0.5427​  5.47%​  0.3285​  * 3.31%​ *  18.28​  4.99​  98.80%​ 



*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		11-Mar-16				18-Mar-16		  	Abacus Property	 ABP  2.950​  3.020​  0.07​  2.37%​ 	BWP Trust	 BWP  3.300​  3.400​  0.10​  3.03%​ 	Charter Hall	 CHC  4.600​  4.700​  0.10​  2.17%​ 	Charter Hall Retail	 CQR  4.380​  4.480​  0.10​  2.28%​ 	Cromwell	 CMW  1.010​  1.050​  0.04​  *	3.96%	*​ 	Dexus	 DXS  7.830​  7.940​  0.11​  1.40%​ 	Goodman Group	 GMG  6.720​  6.700​  -0.02​  -0.30%​ 	Growthpoint Properties	 GOZ  3.060​  3.150​  0.09​  2.94%​ 	GPT Group	 GPT  4.940​  4.900​  -0.04​  -0.81%​ 	Investa Office	 IOF  4.130​  4.180​  0.05​  1.21%​ 	Mirvac Group	 MGR  1.865​  1.885​  0.02​  1.07%​ 	National Storage	 NSR  1.595​  1.610​  0.02​  0.94%​ 	SCA Property Group	 SCP  2.240​  2.290​  0.05​  2.23%​ 	Scentre Group	 SCG  4.440​  4.360​  -0.08​  -1.80%​ 	Stockland Property	 SGP  4.260​  4.220​  -0.04​  -0.94%​ 	Vicinity Centres	 VCX  3.120​  3.120​  0.00​  0.00%​ 	Westfield Corporation	 WFD  10.000​  9.920​  -0.08​  -0.80%​ 




*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector. 

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 05 February 2016, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 05 February 2016. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*5.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (27 March 2016)

*A-REIT Sector:  Weekending Thursday 24 March 2016 *

Looks to my untrained eye that the A-REIT sector is forming a pennant, tracking sideways, moving up to resistance and getting pushed down to support then repeating the cycle in a narrowing pattern. Is this the signal for a breakout? If so where is it going to go?

 Reports suggest that building approvals are down but Brick works issues a report that demand for building materials is up. It can't all be do it yourselfers.  Business confidence is supposed to be down but flight bookings between Melbourne and Sydney are at all time highs suggesting it is business travel rather than tourism. Retailers have stopped whinging about there being no g.s.t on international online purchases (under $1000 in value) no doubt they will find something else to whinge about later as now they are too busy accommodating consumers maxing out their credit cards. And now Mr Turnbull wants to change the way in which preferences are distributed between election candidates to improve his chance of getting control of the senate after his double dissolution election in July. And the markets are in constant flux providing volatility and opportunity for all.  Good luck.






The *A-REIT Table* for closing prices for Weekending * 24 March 2016 * follows:


	Code	 *	Closing Price	* 		Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Premium to NTA		           ABP  *	2.990	*​  1,655,988,079​  0.2546​  8.52%​  0.1697​  * 5.68%​ *  11.74​  2.49​  20.08%​  BWP  *	3.430	*​  2,203,376,444​  0.3284​  9.57%​  0.1637​  * 4.77%​ *  10.44​  2.24​  53.13%​  CHC  *	4.690	*​  1,918,975,835​  0.3280​  6.99%​  0.2540​  * 5.42%​ *  14.30​  2.76​  69.93%​  CQR  *	4.510	*​  1,813,251,241​  0.4355​  9.66%​  0.2780​  * 6.16%​ *  10.36​  3.59​  25.63%​  CMW  *	1.045	*​  1,826,351,048​  0.0858​  8.21%​  0.0797​  * 7.63%​ *  12.18​  0.65​  60.77%​  DXS  *	7.900	*​  7,646,786,767​  0.6758​  8.55%​  0.4441​  * 5.62%​ *  11.69​  6.68​  18.26%​  GMG  *	6.710	*​  11,877,359,687​  0.6920​  10.31%​  0.2300​  * 3.43%​ *  9.70​  3.46​  93.93%​  GOZ  *	3.130	*​  1,782,017,336​  0.2570​  8.21%​  0.2010​  * 6.42%​ *  12.18​  2.16​  44.91%​  GPT  *	4.940	*​  8,866,393,653​  0.4875​  9.87%​  0.2250​  * 4.55%​ *  10.13​  4.03​  22.58%​  IOF  *	4.150	*​  2,548,296,951​  0.2920​  7.04%​  0.1950​  * 4.70%​ *  14.21​  3.62​  14.64%​  MGR  *	1.885	*​  6,976,749,092​  0.1651​  8.76%​  0.0960​  * 5.09%​ *  11.42​  1.74​  8.33%​  NSR  *	1.610	*​  538,474,818​  -0.0045​  -0.28%​  0.0850​  * 5.28%​ *  -357.78​  1.11​  45.05%​  SCP  *	2.250	*​  1,650,127,802​  0.2290​  10.18%​  0.1180​  * 5.24%​ *  9.83​  1.77​  27.12%​  SCG  *	4.330	*​  23,054,204,616​  0.4448​  10.27%​  0.2065​  * 4.77%​ *  9.73​  3.11​  39.23%​  SGP  *	4.210	*​  10,009,351,715​  0.3850​  9.14%​  0.2420​  * 5.75%​ *  10.94​  3.68​  14.40%​  VCX  *	3.130	*​  12,390,576,491​  0.2556​  8.17%​  0.1730​  * 5.53%​ *  12.25​  2.45​  27.76%​  WFD  *	10.080	*​  20,947,144,035​  0.5427​  5.38%​  0.3285​  * 3.26%​ *  18.57​  4.99​  102.00%​ 



*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		18-Mar-16				24-Mar-16		  	Abacus Property	 ABP  3.020​  2.990​  -0.03​  -0.99%​ 	BWP Trust	 BWP  3.400​  3.430​  0.03​  0.88%​ 	Charter Hall	 CHC  4.700​  4.690​  -0.01​  -0.21%​ 	Charter Hall Retail	 CQR  4.480​  4.510​  0.03​  0.67%​ 	Cromwell	 CMW  1.050​  1.045​  -0.01​  -0.48%​ 	Dexus	 DXS  7.940​  7.900​  -0.04​  -0.50%​ 	Goodman Group	 GMG  6.700​  6.710​  0.01​  0.15%​ 	Growthpoint Properties	 GOZ  3.150​  3.130​  -0.02​  -0.63%​ 	GPT Group	 GPT  4.900​  4.940​  0.04​  0.82%​ 	Investa Office	 IOF  4.180​  4.150​  -0.03​  -0.72%​ 	Mirvac Group	 MGR  1.885​  1.885​  0.00​  0.00%​ 	National Storage	 NSR  1.610​  1.610​  0.00​  0.00%​ 	SCA Property Group	 SCP  2.290​  2.250​  -0.04​  -1.75%​ 	Scentre Group	 SCG  4.360​  4.330​  -0.03​  -0.69%​ 	Stockland Property	 SGP  4.220​  4.210​  -0.01​  -0.24%​ 	Vicinity Centres	 VCX  3.120​  3.130​  0.01​  0.32%​ 	Westfield Corporation	 WFD  9.920​  10.080​  0.16​  1.61%​ 




*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector. 

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 05 February 2016, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 05 February 2016. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*5.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (3 April 2016)

*A-REIT Sector:  Weekending Friday 01 April 2016 *


The A-REIT Sector surged on Thursday 31 March 2016 looking like it would break through the resistance point around 13.6 but failed miserably, falling back on Friday to close out the week at 13.35.  It looks like Thursdays action was more likely first quarter portfolio management as fund managers reweighted their clients investment portfolio's and generated some brokerage. The subsequent correction on Friday was enough to push the sector down on the previous weeks close. Once again there were plenty of opportunities during the week in the individual shares making up the sector but only for the brave and/or crazy. Good luck.





The *A-REIT Table* for closing prices for Weekending * 01 April 2016 * follows:


	Code	 *	Closing Price	* 		Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Premium to NTA		           ABP  *	2.940	*​  1,628,295,971​  0.2546​  8.66%​  0.1697​  * 5.77%​ *  11.55​  2.49​  18.07%​  BWP  *	3.370	*​  2,164,833,416​  0.3284​  9.74%​  0.1637​  * 4.86%​ *  10.26​  2.24​  50.45%​  CHC  *	4.550	*​  1,861,692,974​  0.3280​  7.21%​  0.2540​  * 5.58%​ *  13.87​  2.76​  64.86%​  CQR  *	4.490	*​  1,805,210,216​  0.4355​  9.70%​  0.2780​  * 6.19%​ *  10.31​  3.59​  25.07%​  CMW  *	1.020	*​  1,782,658,439​  0.0858​  8.41%​  0.0797​  * 7.81%​ *  11.89​  0.65​  56.92%​  DXS  *	7.790	*​  7,540,312,521​  0.6758​  8.68%​  0.4441​  * 5.70%​ *  11.53​  6.68​  16.62%​  GMG  *	6.590	*​  11,664,947,889​  0.6920​  10.50%​  0.2300​  * 3.49%​ *  9.52​  3.46​  90.46%​  GOZ  *	3.090	*​  1,759,243,951​  0.2570​  8.32%​  0.2010​  * 6.50%​ *  12.02​  2.16​  43.06%​  GPT  *	4.950	*​  8,884,341,819​  0.4875​  9.85%​  0.2250​  * 4.55%​ *  10.15​  4.03​  22.83%​  IOF  *	4.130	*​  2,536,016,002​  0.2920​  7.07%​  0.1950​  * 4.72%​ *  14.14​  3.62​  14.09%​  MGR  *	1.870	*​  6,921,231,194​  0.1651​  8.83%​  0.0960​  * 5.13%​ *  11.33​  1.74​  7.47%​  NSR  *	1.590	*​  531,785,690​  -0.0045​  -0.28%​  0.0850​  * 5.35%​ *  -353.33​  1.11​  43.24%​  SCP  *	2.220	*​  1,628,126,097​  0.2290​  10.32%​  0.1180​  * 5.32%​ *  9.69​  1.77​  25.42%​  SCG  *	4.350	*​  23,160,690,549​  0.4448​  10.23%​  0.2065​  * 4.75%​ *  9.78​  3.11​  39.87%​  SGP  *	4.200	*​  9,985,576,532​  0.3850​  9.17%​  0.2420​  * 5.76%​ *  10.91​  3.68​  14.13%​  VCX  *	3.130	*​  12,390,576,491​  0.2556​  8.17%​  0.1730​  * 5.53%​ *  12.25​  2.45​  27.76%​  WFD  *	9.760	*​  20,282,155,335​  0.5427​  5.56%​  0.3285​  * 3.37%​ *  17.98​  4.99​  95.59%​ 



*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		24-Mar-16				01-Apr-16		  	Abacus Property	 ABP  2.990​  2.940​  -0.05​  -1.67%​ 	BWP Trust	 BWP  3.430​  3.370​  -0.06​  -1.75%​ 	Charter Hall	 CHC  4.690​  4.550​  -0.14​  -2.99%​ 	Charter Hall Retail	 CQR  4.510​  4.490​  -0.02​  -0.44%​ 	Cromwell	 CMW  1.045​  1.020​  -0.02​  -2.39%​ 	Dexus	 DXS  7.900​  7.790​  -0.11​  -1.39%​ 	Goodman Group	 GMG  6.710​  6.590​  -0.12​  -1.79%​ 	Growthpoint Properties	 GOZ  3.130​  3.090​  -0.04​  -1.28%​ 	GPT Group	 GPT  4.940​  4.950​  0.01​  0.20%​ 	Investa Office	 IOF  4.150​  4.130​  -0.02​  -0.48%​ 	Mirvac Group	 MGR  1.885​  1.870​  -0.01​  -0.80%​ 	National Storage	 NSR  1.610​  1.590​  -0.02​  -1.24%​ 	SCA Property Group	 SCP  2.250​  2.220​  -0.03​  -1.33%​ 	Scentre Group	 SCG  4.330​  4.350​  0.02​  0.46%​ 	Stockland Property	 SGP  4.210​  4.200​  -0.01​  -0.24%​ 	Vicinity Centres	 VCX  3.130​  3.130​  0.00​  0.00%​ 	Westfield Corporation	 WFD  10.080​  9.760​  -0.32​  -3.17%​ 




*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector. 

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 05 February 2016, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 05 February 2016. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*5.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (10 April 2016)

*A-REIT Sector:  Weekending Friday 08 April 2016 *


The A-REIT Sector rallied again from last weeks finish. Once again close to the recent resistance level. Once again plenty of opportunity for the diligent through the week. Good luck.





The *A-REIT Table* for closing prices for Weekending * 08 April 2016 * follows:


	Code	 *	Closing Price	* 		Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Premium to NTA		           ABP  *	3.010	*​  1,667,064,923​  0.2546​  8.46%​  0.1697​  * 5.64%​ *  11.82​  2.49​  20.88%​  BWP  *	3.380	*​  2,171,257,254​  0.3284​  9.72%​  0.1637​  * 4.84%​ *  10.29​  2.24​  50.89%​  CHC  *	4.580	*​  1,873,967,873​  0.3280​  7.16%​  0.2540​  * 5.55%​ *  13.96​  2.76​  65.94%​  CQR  *	4.530	*​  1,821,292,267​  0.4355​  9.61%​  0.2780​  * 6.14%​ *  10.40​  3.59​  26.18%​  CMW  *	1.035	*​  1,808,874,004​  0.0858​  8.29%​  0.0797​  * 7.70%​ *  12.06​  0.65​  59.23%​  DXS  *	7.910	*​  7,656,466,244​  0.6758​  8.54%​  0.4441​  * 5.61%​ *  11.70​  6.68​  18.41%​  GMG  *	6.670	*​  11,806,555,754​  0.6920​  10.37%​  0.2300​  * 3.45%​ *  9.64​  3.46​  92.77%​  GOZ  *	3.280	*​  1,867,417,527​  0.2570​  7.84%​  0.2010​  * 6.13%​ *  12.76​  2.16​  51.85%​  GPT  *	4.950	*​  8,884,341,819​  0.4875​  9.85%​  0.2250​  * 4.55%​ *  10.15​  4.03​  22.83%​  IOF  *	4.140	*​  2,542,156,476​  0.2920​  7.05%​  0.1950​  * 4.71%​ *  14.18​  3.62​  14.36%​  MGR  *	1.920	*​  7,106,290,852​  0.1651​  8.60%​  0.0960​  * 5.00%​ *  11.63​  1.74​  10.34%​  NSR  *	1.575	*​  526,768,844​  -0.0045​  -0.29%​  0.0850​  * 5.40%​ *  -350.00​  1.11​  41.89%​  SCP  *	2.210	*​  1,620,792,196​  0.2290​  10.36%​  0.1180​  * 5.34%​ *  9.65​  1.77​  24.86%​  SCG  *	4.430	*​  23,586,634,284​  0.4448​  10.04%​  0.2065​  * 4.66%​ *  9.96​  3.11​  42.44%​  SGP  *	4.280	*​  10,175,777,990​  0.3850​  9.00%​  0.2420​  * 5.65%​ *  11.12​  3.68​  16.30%​  VCX  *	3.170	*​  12,548,922,516​  0.2556​  8.06%​  0.1730​  * 5.46%​ *  12.40​  2.45​  29.39%​  WFD  *	9.940	*​  20,656,211,479​  0.5427​  5.46%​  0.3285​  * 3.30%​ *  18.32​  4.99​  99.20%​ 



*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		01-Apr-16				08-Apr-16		  	Abacus Property	 ABP  2.940​  3.010​  0.07​  2.38%​ 	BWP Trust	 BWP  3.370​  3.380​  0.01​  0.30%​ 	Charter Hall	 CHC  4.550​  4.580​  0.03​  0.66%​ 	Charter Hall Retail	 CQR  4.490​  4.530​  0.04​  0.89%​ 	Cromwell	 CMW  1.020​  1.035​  0.01​  1.47%​ 	Dexus	 DXS  7.790​  7.910​  0.12​  1.54%​ 	Goodman Group	 GMG  6.590​  6.670​  0.08​  1.21%​ 	Growthpoint Properties	 GOZ  3.090​  3.280​  0.19​  6.15%​ 	GPT Group	 GPT  4.950​  4.950​  0.00​  0.00%​ 	Investa Office	 IOF  4.130​  4.140​  0.01​  0.24%​ 	Mirvac Group	 MGR  1.870​  1.920​  0.05​  2.67%​ 	National Storage	 NSR  1.590​  1.575​  -0.02​  -0.94%​ 	SCA Property Group	 SCP  2.220​  2.210​  -0.01​  -0.45%​ 	Scentre Group	 SCG  4.350​  4.430​  0.08​  1.84%​ 	Stockland Property	 SGP  4.200​  4.280​  0.08​  1.90%​ 	Vicinity Centres	 VCX  3.130​  3.170​  0.04​  1.28%​ 	Westfield Corporation	 WFD  9.760​  9.940​  0.18​  1.84%​ 




*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector. 

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 05 February 2016, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 05 February 2016. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*5.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (12 April 2016)

Today the thread rolled past 50,000 views. Not bad for a simple "weekly update" set of tables.


----------



## Bill M (12 April 2016)

Don't worry nulla, plenty of us looking. Gone are the good old days when the yields were 8 to 10% per annum. I look to see how it's going, is it improving and how are the yields.

Thanks for your weekly postings, appreciate it a lot.


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## nulla nulla (17 April 2016)

*A-REIT Sector:  Weekending Friday 15 April 2016 *


The A-REIT Sector broke above the recent resistance levels, climbing through the week to finish at Fridays close of 13.729.  While this is only 1.25% above the previous weeks close, the sector has not been this high since October 2008. The sector has now moved above the highs of February 2015 while the All-Ords, by comparison at 5224, is 730 points off its high of 5954.85 of April 2015. 

The average price earnings for the shares making up the property sector (excluding National Storage) is only 11.943. It is possible that there is still room for growth in some of the shares currently below this average. With global fund managers trying to talk our economy down, short our dollar and short our banks, it is anyone's guess as to where the market goes from here.   Good luck.





The *A-REIT Table* for closing prices for Weekending * 15 April 2016 * follows:


	Code	 *	Closing Price	* 		Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Premium to NTA		           ABP  *	3.100	*​  1,716,910,718​  0.2546​  8.21%​  0.1697​  * 5.47%​ *  12.18​  2.49​  24.50%​  BWP  *	3.390	*​  2,177,681,092​  0.3284​  9.69%​  0.1637​  * 4.83%​ *  10.32​  2.24​  51.34%​  CHC  *	4.590	*​  1,878,059,506​  0.3280​  7.15%​  0.2540​  * 5.53%​ *  13.99​  2.76​  66.30%​  CQR  *	4.640	*​  1,865,517,907​  0.4355​  9.39%​  0.2780​  * 5.99%​ *  10.65​  3.59​  29.25%​  CMW  *	0.980	*​  1,712,750,265​  0.0858​  8.76%​  0.0797​  * 8.13%​ *  11.42​  0.65​  50.77%​  DXS  *	8.120	*​  7,859,735,259​  0.6758​  8.32%​  0.4441​  * 5.47%​ *  12.02​  6.68​  21.56%​  GMG  *	6.730	*​  11,912,761,653​  0.6920​  10.28%​  0.2300​  * 3.42%​ *  9.73​  3.46​  94.51%​  GOZ  *	3.230	*​  1,838,950,797​  0.2570​  7.96%​  0.2010​  * 6.22%​ *  12.57​  2.16​  49.54%​  GPT  *	4.910	*​  8,812,549,157​  0.4875​  9.93%​  0.2250​  * 4.58%​ *  10.07​  4.03​  21.84%​  IOF  *	4.110	*​  2,523,735,052​  0.2920​  7.10%​  0.1950​  * 4.74%​ *  14.08​  3.62​  13.54%​  MGR  *	1.935	*​  7,161,808,749​  0.1651​  8.53%​  0.0960​  * 4.96%​ *  11.72​  1.74​  11.21%​  NSR  *	1.655	*​  553,525,357​  -0.0045​  -0.27%​  0.0850​  * 5.14%​ *  -367.78​  1.11​  49.10%​  SCP  *	2.250	*​  1,650,127,802​  0.2290​  10.18%​  0.1180​  * 5.24%​ *  9.83​  1.77​  27.12%​  SCG  *	4.550	*​  24,225,549,885​  0.4448​  9.78%​  0.2065​  * 4.54%​ *  10.23​  3.11​  46.30%​  SGP  *	4.300	*​  10,223,328,355​  0.3850​  8.95%​  0.2420​  * 5.63%​ *  11.17​  3.68​  16.85%​  VCX  *	3.210	*​  12,707,268,542​  0.2556​  7.96%​  0.1730​  * 5.39%​ *  12.56​  2.45​  31.02%​  WFD  *	10.070	*​  20,926,363,138​  0.5427​  5.39%​  0.3285​  * 3.26%​ *  18.56​  4.99​  101.80%​ 



*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		08-Apr-16				15-Apr-16		  	Abacus Property	 ABP  3.010​  3.100​  0.09​  2.99%​ 	BWP Trust	 BWP  3.380​  3.390​  0.01​  0.30%​ 	Charter Hall	 CHC  4.580​  4.590​  0.01​  0.22%​ 	Charter Hall Retail	 CQR  4.530​  4.640​  0.11​  2.43%​ 	Cromwell	 CMW  1.035​  0.980​  -0.05​  -5.31%​ 	Dexus	 DXS  7.910​  8.120​  0.21​  2.65%​ 	Goodman Group	 GMG  6.670​  6.730​  0.06​  0.90%​ 	Growthpoint Properties	 GOZ  3.280​  3.230​  -0.05​  -1.52%​ 	GPT Group	 GPT  4.950​  4.910​  -0.04​  -0.81%​ 	Investa Office	 IOF  4.140​  4.110​  -0.03​  -0.72%​ 	Mirvac Group	 MGR  1.920​  1.935​  0.02​  0.78%​ 	National Storage	 NSR  1.575​  1.655​  0.08​  5.08%​ 	SCA Property Group	 SCP  2.210​  2.250​  0.04​  1.81%​ 	Scentre Group	 SCG  4.430​  4.550​  0.12​  2.71%​ 	Stockland Property	 SGP  4.280​  4.300​  0.02​  0.47%​ 	Vicinity Centres	 VCX  3.170​  3.210​  0.04​  1.26%​ 	Westfield Corporation	 WFD  9.940​  10.070​  0.13​  1.31%​ 




*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector. 

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 05 February 2016, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 05 February 2016. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*5.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## Logique (17 April 2016)

Thanks Nulla, appreciate your efforts. 

Property Trusts are showing plenty of resilience. Quite happy to remain exposed to this sector!


----------



## nulla nulla (24 April 2016)

*A-REIT Sector:  Weekending Friday 22 April 2016 *


The A-REIT Sector started the week well following the All-Ords upwards for three days and everything looked rosy. Then on Thursday the bum fell out of the A-REIT Sector and by close of business on Friday the market had wiped 3% off the Wednesday high. All this while the All-Ords continued to  climb.  Bit of a change compared to the previous week. Hardest part of the leaps and falls is deciding whether or not a fall is the start of something bigger or a good time to buy.    Good luck.





The *A-REIT Table* for closing prices for Weekending * 22 April 2016 * follows:


	Code	 *	Closing Price	* 		Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Premium to NTA		           ABP  *	3.090	*​  1,711,372,296​  0.2546​  8.24%​  0.1697​  * 5.49%​ *  12.14​  2.49​  24.10%​  BWP  *	3.420	*​  2,196,952,606​  0.3284​  9.60%​  0.1637​  * 4.79%​ *  10.41​  2.24​  52.68%​  CHC  *	4.720	*​  1,931,250,734​  0.3280​  6.95%​  0.2540​  * 5.38%​ *  14.39​  2.76​  71.01%​  CQR  *	4.680	*​  1,881,599,958​  0.4355​  9.31%​  0.2780​  * 5.94%​ *  10.75​  3.59​  30.36%​  CMW  *	0.985	*​  1,721,488,787​  0.0858​  8.71%​  0.0797​  * 8.09%​ *  11.48​  0.65​  51.54%​  DXS  *	8.210	*​  7,946,850,551​  0.6758​  8.23%​  0.4441​  * 5.41%​ *  12.15​  6.68​  22.90%​  GMG  *	6.760	*​  11,965,864,603​  0.6920​  10.24%​  0.2300​  * 3.40%​ *  9.77​  3.46​  95.38%​  GOZ  *	3.140	*​  1,787,710,682​  0.2570​  8.18%​  0.2010​  * 6.40%​ *  12.22​  2.16​  45.37%​  GPT  *	4.810	*​  8,633,067,504​  0.4875​  10.14%​  0.2250​  * 4.68%​ *  9.87​  4.03​  19.35%​  IOF  *	4.100	*​  2,517,594,578​  0.2920​  7.12%​  0.1950​  * 4.76%​ *  14.04​  3.62​  13.26%​  MGR  *	1.880	*​  6,958,243,126​  0.1651​  8.78%​  0.0960​  * 5.11%​ *  11.39​  1.74​  8.05%​  NSR  *	1.635	*​  546,836,229​  -0.0045​  -0.28%​  0.0850​  * 5.20%​ *  -363.33​  1.11​  47.30%​  SCP  *	2.230	*​  1,635,459,999​  0.2290​  10.27%​  0.1180​  * 5.29%​ *  9.74​  1.77​  25.99%​  SCG  *	4.530	*​  24,119,063,951​  0.4448​  9.82%​  0.2065​  * 4.56%​ *  10.18​  3.11​  45.66%​  SGP  *	4.240	*​  10,080,677,261​  0.3850​  9.08%​  0.2420​  * 5.71%​ *  11.01​  3.68​  15.22%​  VCX  *	3.250	*​  12,865,614,567​  0.2556​  7.86%​  0.1730​  * 5.32%​ *  12.72​  2.45​  32.65%​  WFD  *	9.940	*​  20,656,211,479​  0.5427​  5.46%​  0.3285​  * 3.30%​ *  18.32​  4.99​  99.20%​ 



*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		15-Apr-16				22-Apr-16		  	Abacus Property	 ABP  3.100​  3.090​  -0.01​  -0.32%​ 	BWP Trust	 BWP  3.390​  3.420​  0.03​  0.88%​ 	Charter Hall	 CHC  4.590​  4.720​  0.13​  2.83%​ 	Charter Hall Retail	 CQR  4.640​  4.680​  0.04​  0.86%​ 	Cromwell	 CMW  0.980​  0.985​  0.01​  0.51%​ 	Dexus	 DXS  8.120​  8.210​  0.09​  1.11%​ 	Goodman Group	 GMG  6.730​  6.760​  0.03​  0.45%​ 	Growthpoint Properties	 GOZ  3.230​  3.140​  -0.09​  -2.79%​ 	GPT Group	 GPT  4.910​  4.810​  -0.10​  -2.04%​ 	Investa Office	 IOF  4.110​  4.100​  -0.01​  -0.24%​ 	Mirvac Group	 MGR  1.935​  1.880​  -0.06​  -2.84%​ 	National Storage	 NSR  1.655​  1.635​  -0.02​  -1.21%​ 	SCA Property Group	 SCP  2.250​  2.230​  -0.02​  -0.89%​ 	Scentre Group	 SCG  4.550​  4.530​  -0.02​  -0.44%​ 	Stockland Property	 SGP  4.300​  4.240​  -0.06​  -1.40%​ 	Vicinity Centres	 VCX  3.210​  3.250​  0.04​  1.25%​ 	Westfield Corporation	 WFD  10.070​  9.940​  -0.13​  -1.29%​ 



[/td]
[/tr]




*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector. 

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 05 February 2016, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 05 February 2016. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*5.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (30 April 2016)

*A-REIT Sector:  Weekending Friday 29 April 2016 *


The A-REIT Sector stabilised at the start of the week then reached for the stars. Some of the share prices of the stocks making up the sector are starting to look like the buyers have star dust in their eyes.  If I owned them I would be getting dizzy. Oddly enough there are still stocks in the sector where the price/earnings ratios' are relatively low and they appear to be sold down and unloved. The volatility continues and the opportunities recur, however I might wait for any decent retrace from the upper channel marker before I consider jumping in for a trade    Good luck.






The *A-REIT Table* for closing prices for Weekending * 29 April 2016 * follows:


	Code	 *	Closing Price	* 		Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Premium to NTA		           ABP  *	3.170	*​  1,755,679,669​  0.2546​  8.03%​  0.1697​  * 5.35%​ *  12.45​  2.49​  27.31%​  BWP  *	3.500	*​  2,248,343,311​  0.3284​  9.38%​  0.1637​  * 4.68%​ *  10.66​  2.24​  56.25%​  CHC  *	4.790	*​  1,959,892,164​  0.3280​  6.85%​  0.2540​  * 5.30%​ *  14.60​  2.76​  73.55%​  CQR  *	4.760	*​  1,913,764,059​  0.4355​  9.15%​  0.2780​  * 5.84%​ *  10.93​  3.59​  32.59%​  CMW  *	1.020	*​  1,782,658,439​  0.0858​  8.41%​  0.0797​  * 7.81%​ *  11.89​  0.65​  56.92%​  DXS  *	8.420	*​  8,150,119,567​  0.6758​  8.03%​  0.4441​  * 5.27%​ *  12.46​  6.68​  26.05%​  GMG  *	6.890	*​  12,195,977,383​  0.6920​  10.04%​  0.2300​  * 3.34%​ *  9.96​  3.46​  99.13%​  GOZ  *	3.230	*​  1,838,950,797​  0.2570​  7.96%​  0.2010​  * 6.22%​ *  12.57​  2.16​  49.54%​  GPT  *	5.030	*​  9,027,927,141​  0.4875​  9.69%​  0.2250​  * 4.47%​ *  10.32​  4.03​  24.81%​  IOF  *	4.170	*​  2,560,577,900​  0.2920​  7.00%​  0.1950​  * 4.68%​ *  14.28​  3.62​  15.19%​  MGR  *	1.870	*​  6,921,231,194​  0.1651​  8.83%​  0.0960​  * 5.13%​ *  11.33​  1.74​  7.47%​  NSR  *	1.720	*​  575,265,023​  -0.0045​  -0.26%​  0.0850​  * 4.94%​ *  -382.22​  1.11​  54.95%​  SCP  *	2.340	*​  1,716,132,914​  0.2290​  9.79%​  0.1180​  * 5.04%​ *  10.22​  1.77​  32.20%​  SCG  *	4.690	*​  24,970,951,420​  0.4448​  9.48%​  0.2065​  * 4.40%​ *  10.54​  3.11​  50.80%​  SGP  *	4.370	*​  10,389,754,630​  0.3850​  8.81%​  0.2420​  * 5.54%​ *  11.35​  3.68​  18.75%​  VCX  *	3.320	*​  13,142,720,112​  0.2556​  7.70%​  0.1730​  * 5.21%​ *  12.99​  2.45​  35.51%​  WFD  *	10.100	*​  20,988,705,829​  0.5427​  5.37%​  0.3285​  * 3.25%​ *  18.61​  4.99​  102.40%​ 



*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		22-Apr-16				29-Apr-16		  	Abacus Property	 ABP  3.090​  3.170​  0.08​  2.59%​ 	BWP Trust	 BWP  3.420​  3.500​  0.08​  2.34%​ 	Charter Hall	 CHC  4.720​  4.790​  0.07​  1.48%​ 	Charter Hall Retail	 CQR  4.680​  4.760​  0.08​  1.71%​ 	Cromwell	 CMW  0.985​  1.020​  0.04​  3.55%​ 	Dexus	 DXS  8.210​  8.420​  0.21​  2.56%​ 	Goodman Group	 GMG  6.760​  6.890​  0.13​  1.92%​ 	Growthpoint Properties	 GOZ  3.140​  3.230​  0.09​  2.87%​ 	GPT Group	 GPT  4.810​  5.030​  0.22​  4.57%​ 	Investa Office	 IOF  4.100​  4.170​  0.07​  1.71%​ 	Mirvac Group	 MGR  1.880​  1.870​  -0.01​  -0.53%​ 	National Storage	 NSR  1.635​  1.720​  0.09​  5.20%​ 	SCA Property Group	 SCP  2.230​  2.340​  0.11​  4.93%​ 	Scentre Group	 SCG  4.530​  4.690​  0.16​  3.53%​ 	Stockland Property	 SGP  4.240​  4.370​  0.13​  3.07%​ 	Vicinity Centres	 VCX  3.250​  3.320​  0.07​  2.15%​ 	Westfield Corporation	 WFD  9.940​  10.100​  0.16​  1.61%​ 




*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector. 

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 05 February 2016, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 05 February 2016. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*5.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## Logique (4 May 2016)

Scarcely the dizzy heights of 2007, but progress is good!
The index took off after April 2014. Very tidy this calendar year. The recent interest rate cut (to a record low) won't have hurt the sector.

Since March 2013: http://au.finance.yahoo.com/


----------



## nulla nulla (8 May 2016)

*A-REIT Sector:  Weekending Friday 06 May 2016 *


The A-REIT Sector reached even higher this week on the back of the interest rate cut and the subsequent drop in the Aud$ against the US$. I can still remember the outflow of foreign funds from our share market (particularly the property sector) when the Aud$ started falling from parity against the US$.  Now the low dollar and the relatively high yields seem to be encouraging the return of foreign investors back to our shores. It can't all be Chinese money laundering, can it?

I look at the recent rapid climb in A-REIT shares and can't help but think "what goes up must come down". However there are still some quality shares in the sector that have increased in value at a much slower rate and are still offering good yields on lower price earnings ratio's.  I wonder if there will be a push down in A-REIT share prices in the next few weeks, followed by an accumulation buildup in the lead up to the June dividend announcements?    Good luck .




A longer term view:





The *A-REIT Table* for closing prices for Weekending * 06 May 2016 * follows:


	Code	 *	Closing Price	* 		Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Premium to NTA		           ABP  *	3.260	*​  1,805,525,464​  0.2546​  7.81%​  0.1697​  * 5.21%​ *  12.80​  2.49​  30.92%​  BWP  *	3.610	*​  2,319,005,529​  0.3284​  9.10%​  0.1637​  * 4.53%​ *  10.99​  2.24​  61.16%​  CHC  *	4.990	*​  2,041,724,822​  0.3280​  6.57%​  0.2540​  * 5.09%​ *  15.21​  2.76​  80.80%​  CQR  *	4.790	*​  1,925,825,598​  0.4355​  9.09%​  0.2780​  * 5.80%​ *  11.00​  3.59​  33.43%​  CMW  *	1.020	*​  1,782,658,439​  0.0858​  8.41%​  0.0797​  * 7.81%​ *  11.89​  0.65​  56.92%​  DXS  *	8.550	*​  8,275,952,767​  0.6758​  7.90%​  0.4441​  * 5.19%​ *  12.65​  6.68​  27.99%​  GMG  *	7.120	*​  12,603,099,996​  0.6920​  9.72%​  0.2300​  * 3.23%​ *  10.29​  3.46​  105.78%​  GOZ  *	3.250	*​  1,850,337,489​  0.2570​  7.91%​  0.2010​  * 6.18%​ *  12.65​  2.16​  50.46%​  GPT  *	5.200	*​  9,333,045,951​  0.4875​  9.38%​  0.2250​  * 4.33%​ *  10.67​  4.03​  29.03%​  IOF  *	4.180	*​  2,566,718,374​  0.2920​  6.99%​  0.1950​  * 4.67%​ *  14.32​  3.62​  15.47%​  MGR  *	1.945	*​  7,198,820,681​  0.1651​  8.49%​  0.0960​  * 4.94%​ *  11.78​  1.74​  11.78%​  NSR  *	1.800	*​  602,021,536​  -0.0045​  -0.25%​  0.0850​  * 4.72%​ *  -400.00​  1.11​  62.16%​  SCP  *	2.380	*​  1,745,468,519​  0.2290​  9.62%​  0.1180​  * 4.96%​ *  10.39​  1.77​  34.46%​  SCG  *	4.680	*​  24,917,708,453​  0.4448​  9.50%​  0.2065​  * 4.41%​ *  10.52​  3.11​  50.48%​  SGP  *	4.540	*​  10,793,932,728​  0.3850​  8.48%​  0.2420​  * 5.33%​ *  11.79​  3.68​  23.37%​  VCX  *	3.350	*​  13,261,479,631​  0.2556​  7.63%​  0.1730​  * 5.16%​ *  13.11​  2.45​  36.73%​  WFD  *	10.490	*​  21,799,160,806​  0.5427​  5.17%​  0.3285​  * 3.13%​ *  19.33​  4.99​  110.22%​ 



*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		29-Apr-16				06-May-16		  	Abacus Property	 ABP  3.170​  3.260​  0.09​  2.84%​ 	BWP Trust	 BWP  3.500​  3.610​  0.11​  3.14%​ 	Charter Hall	 CHC  4.790​  4.990​  0.20​  4.18%​ 	Charter Hall Retail	 CQR  4.760​  4.790​  0.03​  0.63%​ 	Cromwell	 CMW  1.020​  1.020​  0.00​  0.00%​ 	Dexus	 DXS  8.420​  8.550​  0.13​  1.54%​ 	Goodman Group	 GMG  6.890​  7.120​  0.23​  3.34%​ 	Growthpoint Properties	 GOZ  3.230​  3.250​  0.02​  0.62%​ 	GPT Group	 GPT  5.030​  5.200​  0.17​  3.38%​ 	Investa Office	 IOF  4.170​  4.180​  0.01​  0.24%​ 	Mirvac Group	 MGR  1.870​  1.945​  0.08​  4.01%​ 	National Storage	 NSR  1.720​  1.800​  0.08​  4.65%​ 	SCA Property Group	 SCP  2.340​  2.380​  0.04​  1.71%​ 	Scentre Group	 SCG  4.690​  4.680​  -0.01​  -0.21%​ 	Stockland Property	 SGP  4.370​  4.540​  0.17​  3.89%​ 	Vicinity Centres	 VCX  3.320​  3.350​  0.03​  0.90%​ 	Westfield Corporation	 WFD  10.100​  10.490​  0.39​  3.86%​ 




*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector. 

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 05 February 2016, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 05 February 2016. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*5.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## skc (10 May 2016)

Interesting article on the AFR about how negative interest rates in Japan is driving REIT (and other yield stocks no doubt) valuations in Australia. This is the globalisation in the chase for yield.



> China may have been the source of exuberance in the Australian residential property market, but it is Japanese investors that have lifted ASX-listed real estate investment trusts to bold valuations.
> 
> Negative interest rates under Bank of Japan governor Haruhiko Kuroda are believed to have fuelled long positions and by some accounts, a carry trade-style strategy in Australian real estate investment trusts. This led to strong buying last week, taking the property benchmark, the S&P/ASX 200 A-REIT Index, to an eight-year high on Wednesday. It closed at 1433.5 points on Monday.
> 
> ...


----------



## CanOz (10 May 2016)

skc said:


> Interesting article on the AFR about how negative interest rates in Japan is driving REIT (and other yield stocks no doubt) valuations in Australia. This is the globalisation in the chase for yield.




I saw that, you've got to wonder when that bubble pop now...


----------



## Toyota Lexcen (10 May 2016)

i sold out of IOF just recently as have done well and not sure where the stock will go with the takeover by DXS falling over, 

but I do wonder if its also local investors who have also been buying up the REIT's because they have exited the banks due to the regulation and bear market the banks are in


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## nulla nulla (15 May 2016)

*A-REIT Sector:  Weekending Friday 13 May 2016 *


Once again the A-REIT Sector reached higher through the week but fell back before Friday's close to finish the week at roughly the same level. I'm finding most of the shares in the sector to be overpriced for my liking and I'm sitting on the sidelines rather than punting on the prices going higher. If I'm right there will be a correction in the near future presenting plenty of trade entry opportunities. If I'm wrong I'll have to rethink my strategy. Certainly plenty of volatility at the moment. 





The *A-REIT Table* for closing prices for Weekending * 13 May 2016 * follows:


	Code	 *	Closing Price	* 		Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Premium to NTA		           ABP  *	3.290	*​  1,822,140,729​  0.2546​  7.74%​  0.1697​  * 5.16%​ *  12.92​  2.49​  32.13%​  BWP  *	3.610	*​  2,319,005,529​  0.3284​  9.10%​  0.1637​  * 4.53%​ *  10.99​  2.24​  61.16%​  CHC  *	5.200	*​  2,127,649,113​  0.3280​  6.31%​  0.2540​  * 4.88%​ *  15.85​  2.76​  88.41%​  CQR  *	4.810	*​  1,933,866,623​  0.4355​  9.05%​  0.2780​  * 5.78%​ *  11.04​  3.59​  33.98%​  CMW  *	1.030	*​  1,800,135,483​  0.0858​  8.33%​  0.0797​  * 7.74%​ *  12.00​  0.65​  58.46%​  DXS  *	8.570	*​  8,295,311,720​  0.6758​  7.89%​  0.4441​  * 5.18%​ *  12.68​  6.68​  28.29%​  GMG  *	7.240	*​  12,815,511,793​  0.6920​  9.56%​  0.2300​  * 3.18%​ *  10.46​  3.46​  109.25%​  GOZ  *	3.190	*​  1,816,177,412​  0.2570​  8.06%​  0.2010​  * 6.30%​ *  12.41​  2.16​  47.69%​  GPT  *	5.180	*​  9,297,149,620​  0.4875​  9.41%​  0.2250​  * 4.34%​ *  10.63​  4.03​  28.54%​  IOF  *	4.180	*​  2,566,718,374​  0.2920​  6.99%​  0.1950​  * 4.67%​ *  14.32​  3.62​  15.47%​  MGR  *	1.935	*​  7,161,808,749​  0.1651​  8.53%​  0.0960​  * 4.96%​ *  11.72​  1.74​  11.21%​  NSR  *	1.920	*​  642,156,305​  -0.0045​  -0.23%​  0.0850​  * 4.43%​ *  -426.67​  1.11​  72.97%​  SCP  *	2.300	*​  1,686,797,308​  0.2290​  9.96%​  0.1180​  * 5.13%​ *  10.04​  1.77​  29.94%​  SCG  *	4.620	*​  24,598,250,652​  0.4448​  9.63%​  0.2065​  * 4.47%​ *  10.39​  3.11​  48.55%​  SGP  *	4.590	*​  10,912,808,639​  0.3850​  8.39%​  0.2420​  * 5.27%​ *  11.92​  3.68​  24.73%​  VCX  *	3.350	*​  13,261,479,631​  0.2556​  7.63%​  0.1730​  * 5.16%​ *  13.11​  2.45​  36.73%​  WFD  *	10.500	*​  21,819,941,703​  0.5427​  5.17%​  0.3285​  * 3.13%​ *  19.35​  4.99​  110.42%​ 



*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		06-May-16				13-May-16		  	Abacus Property	 ABP  3.260​  3.290​  0.03​  0.92%​ 	BWP Trust	 BWP  3.610​  3.610​  0.00​  0.00%​ 	Charter Hall	 CHC  4.990​  5.200​  0.21​  4.21%​ 	Charter Hall Retail	 CQR  4.790​  4.810​  0.02​  0.42%​ 	Cromwell	 CMW  1.020​  1.030​  0.01​  0.98%​ 	Dexus	 DXS  8.550​  8.570​  0.02​  0.23%​ 	Goodman Group	 GMG  7.120​  7.240​  0.12​  1.69%​ 	Growthpoint Properties	 GOZ  3.250​  3.190​  -0.06​  -1.85%​ 	GPT Group	 GPT  5.200​  5.180​  -0.02​  -0.38%​ 	Investa Office	 IOF  4.180​  4.180​  0.00​  0.00%​ 	Mirvac Group	 MGR  1.945​  1.935​  -0.01​  -0.51%​ 	National Storage	 NSR  1.800​  1.920​  0.12​  6.67%​ 	SCA Property Group	 SCP  2.380​  2.300​  -0.08​  -3.36%​ 	Scentre Group	 SCG  4.680​  4.620​  -0.06​  -1.28%​ 	Stockland Property	 SGP  4.540​  4.590​  0.05​  1.10%​ 	Vicinity Centres	 VCX  3.350​  3.350​  0.00​  0.00%​ 	Westfield Corporation	 WFD  10.490​  10.500​  0.01​  0.10%​ 




*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector. 

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 05 February 2016, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 05 February 2016. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*5.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## skc (15 May 2016)

CanOz said:


> I saw that, you've got to wonder when that bubble pop now...




I am building a list of stocks to short if and when the debt bubble pops. REITs are up there and TCL ,SYD etc are up there as well.

However I am not holding my breath and may have to put the list on my will so my children will short TCL @ $100 when the interest rate finally start to rise from -22% in 2068.


----------



## nulla nulla (22 May 2016)

*A-REIT Sector:  Weekending Friday 20 May 2016 *


The A-REIT Sector mostly moved sideways last week. Plenty of volatility among the stocks making up the sector as the Aud$ slipped back against the US$. Probably a mix of foreign funds coming into the sector pushing prices up being offset by profit taking pushing prices down. The contradictions and fairy tales coming out about the impact on negative gearing and housing prices if the Labour Party gets elected is probably also contributing to the volatility. Only another 6 or so weeks to go. 






The *A-REIT Table* for closing prices for Weekending * 20 May 2016 * follows:


	Code	 *	Closing Price	* 		Capital				Earnings $				ROE				Dist $					Yield %					P/E				NTA $				Premium to NTA		           ABP  *	3.230	*​  1,788,910,199​  0.2546​  7.88%​  0.1697​  * 5.25%​ *  12.69​  2.49​  29.72%​  BWP  *	3.590	*​  2,306,157,853​  0.3284​  9.15%​  0.1637​  * 4.56%​ *  10.93​  2.24​  60.27%​  CHC  *	5.320	*​  2,176,748,708​  0.3280​  6.17%​  0.2540​  * 4.77%​ *  16.22​  2.76​  92.75%​  CQR  *	4.710	*​  1,893,661,496​  0.4355​  9.25%​  0.2780​  * 5.90%​ *  10.82​  3.59​  31.20%​  CMW  *	1.040	*​  1,817,612,526​  0.0858​  8.25%​  0.0797​  * 7.66%​ *  12.12​  0.65​  60.00%​  DXS  *	8.820	*​  8,537,298,643​  0.6758​  7.66%​  0.4441​  * 5.04%​ *  13.05​  6.68​  32.04%​  GMG  *	7.240	*​  12,815,511,793​  0.6920​  9.56%​  0.2300​  * 3.18%​ *  10.46​  3.46​  109.25%​  GOZ  *	3.250	*​  1,850,337,489​  0.2570​  7.91%​  0.2010​  * 6.18%​ *  12.65​  2.16​  50.46%​  GPT  *	5.280	*​  9,476,631,273​  0.4875​  9.23%​  0.2250​  * 4.26%​ *  10.83​  4.03​  31.02%​  IOF  *	4.260	*​  2,615,842,171​  0.2920​  6.85%​  0.1950​  * 4.58%​ *  14.59​  3.62​  17.68%​  MGR  *	1.925	*​  7,124,796,818​  0.1651​  8.58%​  0.0960​  * 4.99%​ *  11.66​  1.74​  10.63%​  NSR  *	1.870	*​  625,433,485​  -0.0045​  -0.24%​  0.0850​  * 4.55%​ *  -415.56​  1.11​  68.47%​  SCP  *	2.280	*​  1,672,129,506​  0.2290​  10.04%​  0.1180​  * 5.18%​ *  9.96​  1.77​  28.81%​  SCG  *	4.660	*​  24,811,222,519​  0.4448​  9.55%​  0.2065​  * 4.43%​ *  10.48​  3.11​  49.84%​  SGP  *	4.570	*​  10,865,258,275​  0.3850​  8.42%​  0.2420​  * 5.30%​ *  11.87​  3.68​  24.18%​  VCX  *	3.270	*​  12,944,787,580​  0.2556​  7.82%​  0.1730​  * 5.29%​ *  12.79​  2.45​  33.47%​  WFD  *	10.450	*​  21,716,037,219​  0.5427​  5.19%​  0.3285​  * 3.14%​ *  19.26​  4.99​  109.42%​ 



*The comparison table of this weeks closing prices versus last weeks closing prices follows:*


	Share		Code			Closing_Price				Closing_Price				Change$					Change%			  		13-May-16				20-May-16		  	Abacus Property	 ABP  3.290​  3.230​  -0.06​  -1.82%​ 	BWP Trust	 BWP  3.610​  3.590​  -0.02​  -0.55%​ 	Charter Hall	 CHC  5.200​  5.320​  0.12​  2.31%​ 	Charter Hall Retail	 CQR  4.810​  4.710​  -0.10​  -2.08%​ 	Cromwell	 CMW  1.030​  1.040​  0.01​  0.97%​ 	Dexus	 DXS  8.570​  8.820​  0.25​  *	2.92%	*​ 	Goodman Group	 GMG  7.240​  7.240​  0.00​  0.00%​ 	Growthpoint Properties	 GOZ  3.190​  3.250​  0.06​  1.88%​ 	GPT Group	 GPT  5.180​  5.280​  0.10​  1.93%​ 	Investa Office	 IOF  4.180​  4.260​  0.08​  1.91%​ 	Mirvac Group	 MGR  1.935​  1.925​  -0.01​  -0.52%​ 	National Storage	 NSR  1.920​  1.870​  -0.05​  *	-2.60%	*​ 	SCA Property Group	 SCP  2.300​  2.280​  -0.02​  -0.87%​ 	Scentre Group	 SCG  4.620​  4.660​  0.04​  0.87%​ 	Stockland Property	 SGP  4.590​  4.570​  -0.02​  -0.44%​ 	Vicinity Centres	 VCX  3.350​  3.270​  -0.08​  -2.39%​ 	Westfield Corporation	 WFD  10.500​  10.450​  -0.05​  -0.48%​ 




*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector. 

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 05 February 2016, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 05 February 2016. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*5.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (29 May 2016)

*A-REIT Sector:  Weekending Friday 27 May 2016 *


The A-REIT Sector continued to move sideways last week. Still plenty of volatility among the stocks making up the sector.

I updated the Shares on issue; Earnings; Distributions; and Asset backing per share in the tables. It was interesting in seeing that some of the earnings figures had increased substantially where distributions barely changed (if at  all). Also some earnings had decreased where the number of shares on issue remained the same. The drop in earnings per share being due to an overall drop in earnings rather than a dilution of earnings through the issue of more shares. The reporting season is drawing very close. I won't be surprised to see some share prices pushed back when the companies report lower than expected earnings.





The *A-REIT Table* for closing prices for Weekending * 27 May 2016 * follows:





*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 27 May 2016, can change from day to day due to active share buy-back programs and other factors.

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 27 May 2016. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*5.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (5 June 2016)

*A-REIT Sector:  Weekending Friday 03 June 2016 *


In a week where the All-Ords dropped 77 points, 1.41%, it was heartening to see the A-REIT Sector contain its drop to only 0.21%. Buy and hold investors must be happy.

End of financial year is drawing near. There will be another round of dividends declared this month and there will likely be another round of portfolio reweighting as fund managers sift out their winners and loser (or use it as an excuse to generate fees before year end).  I can't help but wonder if there isn't a massive dividend trap building in the A-REIT Sector as yield chasers push up the prices for returns better than bank interest, while overlooking the sectors' tightening growth prospects.  Proceed with caution.





The *A-REIT Table* for closing prices for Weekending * 03 June 2016 * follows:





*The comparison table of this weeks closing prices versus last weeks closing prices follows:*




*
Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 27 May 2016, can change from day to day due to active share buy-back programs and other factors.

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 27 May 2016. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*5.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (12 June 2016)

*A-REIT Sector:  Weekending Friday 10 June 2016 *


This week the All-Ords only dropped 0.02% while the A-REIT Sector gained a further 1.39%. Once again the A-REIT Sector is head butting the upper bar of the long term channel. Investors keep pushing the sector higher in their quest for yield. In sharp contrast the overseas hedge funds are pushing banks lower as they bet on a contracting mortgage market and the perspective that the Australian Residential property market will collapse like the US market did in the GFC. Fortunately for Australia our unemployment levels are not escalating and our economy is still creeping upward. The grey clouds on the horizon (for Banks & A-REIT's investing in apartment development) could be an oversupply of apartments in the larger metropolitan areas like Sydney and Melbourne.

Proceed with caution.





The *A-REIT Table* for closing prices for Weekending * 10 June 2016 * follows:





*The comparison table of this weeks closing prices versus last weeks closing prices follows:*




*
Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 27 May 2016, can change from day to day due to active share buy-back programs and other factors.

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 27 May 2016. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*5.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .[/th][/tr]


----------



## nulla nulla (19 June 2016)

*A-REIT Sector:  Weekending Friday 17 June 2016 *


This week the All-Ords dropped a further 2.66% and the A-REIT Sector dropped 0.41%. The A-REIT Sector has tracked sideways for almost a month now between 1420 and 1465. The Britex vote takes place this week (and there is still no clear idea whether they will vote to exit the European Union or not),  there is two weeks to go to the Australian Federal Election and less than two weeks before most of the shares making up the A-REIT Sector go ex-dividend.  This should be a very interesting week.






The *A-REIT Table* for closing prices for Weekending * 17 June 2016 * follows:




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 27 May 2016, can change from day to day due to active share buy-back programs and other factors.

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 27 May 2016. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*5.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (27 June 2016)

*A-REIT Sector:  Weekending Friday 24 June 2016 *


With voting not being compulsory only 70% of eligible voters turned out to vote in the "Brexit" referendum in Great Britain. In the lead up to the vote, the bookmakers had the "Stay" voters ahead of the "leave" voters in the polls.  Subsequently, at the close of voting, the "leave" voters finished ahead in the referendum by 53.4% to 46.6%.  Accordingly 37.38% of eligible voters have determined the outcome of Britain's membership in the European Union.

Already a petition has been circulated to run the poll again on the basis that the 37.38% of eligible voters doesn't represent a majority of the British population. You have to wander if the "Stay" camp became complacent thinking that they were ahead in the polls before the vote and didn't bother to vote.

The Democrats in the U.S. are rightly  worried that there will be a flow on effect in the U.S. Elections in November, border control having been a key issue in Britain.  If Democrat voters are complacent it is very likely that Donald Trump will galvanise enough voters to become President of the U.S.

During the week, in the lead up to the vote, global markets were bouyant on the likelihood of a "Stay" vote outcome. On Friday, panic set in as Investors scrambled to extract their money or find safe havens when the vote counting started to show the "leave" voters were winning. Now the Germans, French and Italians want a quick divorce.  Their fear is, if Britain can leave the Union other countries will follow Britain out the door. There is probably only one certainty in the months ahead, the markets are going to be volatile. Fasten your seat belts we are going to experience some turbulence.






The *A-REIT Table* for closing prices for Weekending * 24 June 2016 * follows:





*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 27 May 2016, can change from day to day due to active share buy-back programs and other factors.

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 27 May 2016. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*5.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nioka (27 June 2016)

"With voting not being compulsory only 70% of eligible voters turned out to vote in the "Brexit" referendum in Great Britain. In the lead up to the vote, the bookmakers had the "Stay" voters ahead of the "leave" voters in the polls. Subsequently, at the close of voting, the "leave" voters finished ahead in the referendum by 53.4% to 46.6%. Accordingly 37.38% of eligible voters have determined the outcome of Britain's membership in the European Union."

I don't agree with that statement. The 30% that did not formally vote actually registered their opinion by NOT voting. They either didn't care which way the vote went or they were prepared to leave it to the "voters" to decide the result. That is what democracy is all about. You should have the right not to vote or to vote. Its no good them saying they want another chance. They had the same chance as those that did vote. Personally I believe that they are better off out of the mess that has been created by the union. Particularly where migration is heading throughout Europe. 

The vote has been taken. A result has been recorded. Seems to me those that lost want another toss of the coin. What will it be next?, best out of three?.


----------



## nulla nulla (3 July 2016)

*A-REIT Sector:  Weekending Friday 01 July 2016 *


After the initial mad panic of global markets reacting to the news of the "Brexit" poll results, markets around the world rebounded as bargain hunters soaked up the bargains and brought the markets back to the previous euphoric levels. A game of "Monoply" on a global scale. Short the markets, sell everything down, flush out the day traders, flush out the stop losses, flush out the margin loan holders, then start soaking up the lower priced shares. Billions lost and billions made. Collect $200.00 when you pass go and it is all legal.






The *A-REIT Table* for closing prices for Weekending * 01 July 2016 * follows:





*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 27 May 2016, can change from day to day due to active share buy-back programs and other factors.

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 27 May 2016. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*5.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .[/th][/th]


----------



## nulla nulla (10 July 2016)

*A-REIT Sector:  Weekending Friday 08 July 2016 *



Last week the A-REIT Sector gained a further 0.82% as the Australian Election vote counting dragged out, creating a little bit of uncertainty as to how our Federal Government would be made up. Bank shares were slammed again as the impartial and fair international ratings agencies (yeah right) placed a negative watch on them and Australia. The implication being that the cost of raising finance would be higher for our banks, impacting their profitability  (I do enjoy a good joke). The flight to safety continued and most of the shares in the A-REIT sector made further modest gains.






The *A-REIT Table* for closing prices for Weekending * 08 July 2016 * follows:




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*




*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 27 May 2016, can change from day to day due to active share buy-back programs and other factors.

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 27 May 2016. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*5.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (17 July 2016)

*A-REIT Sector:  Weekending Friday 15 July 2016 *



Last week the A-REIT Sector gained a further 1.00% while the All-Ords gained 3.66%. The vote counting for the Federal Election is all but over and the Government has been re-elected with a reduced majority. Bank shares rallied as the market breathed a sigh of relief, comfortable that there would be no Royal Commission into the banks questionable business ethics and practices. The U.S jobs report was good. The Bank of England did not reduce interest rates in the wake of Brexit. The pound rallied and the financial community started buying again.

The flight to safe investments in A-REIT's eased however REIT's appear to be back in favour around the world for their continued growth prospects as global economies slowly improve versus negative interest from banks and really low returns on bonds etc. Risk reward perspectives appear to be very cautious for now. A bit like sailing through a minefield, all ahead slow and be ready to abandon ship.





The *A-REIT Table* for closing prices for Weekending * 15 July 2016 * follows:





*The comparison table of this weeks closing prices versus last weeks closing prices follows:*




*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 27 May 2016, can change from day to day due to active share buy-back programs and other factors.

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 27 May 2016. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.
*4.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*5.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (24 July 2016)

*A-REIT Sector:  Weekending Friday 22 July 2016 *


The demand for safe investments continues with the A-REIT's sector gaining a further 1.92% over the last week. The All-ords pushed to a new 12 month high but is still short of previous highs. There is plenty of international turmoil impacting global economics, yet the global indexes appear to be moving higher on the back of low but persisting economic recovery. Certainly makes for volatility.  Good luck.




The *A-REIT Table* for closing prices for Weekending * 22 July 2016 * follows:




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 27 May 2016, can change from day to day due to active share buy-back programs and other factors.

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 27 May 2016. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.
*4.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*5.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (31 July 2016)

*A-REIT Sector:  Weekending Friday 29 July 2016 *


The A-REIT's sector gained a further 0.45% over the last week. While the All-ords continued higher with a further 1.25% gain. The All-Ords appears to be climbing at a faster rate since the Federal Election and Brexit where the A-REIT Sector might to be stalling.

The average price/earnings ratio for shares in the sector (excluding National Storage) is only 9.9 suggesting there is still room for further share price rises. Share prices however are now significantly higher than net tangible assets (nta) and although this can be accommodated with allowances for income from management rights etc, there is a component in the improved nta values attributable to the recent rounds of property revaluations. The Australian dollar seems to have stabilised for now around US$0.74. No doubt this is a factor giving overseas investors confidence in A-REIT's.  However I expect there will be something come up in the future to initiate some form of panic and the volatility will continue.








The *A-REIT Table* for closing prices for Weekending * 29 July 2016 * follows:





*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 27 May 2016, can change from day to day due to active share buy-back programs and other factors.

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 27 May 2016. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*5.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (7 August 2016)

*A-REIT Sector:  Weekending Friday 05 August 2016 *

The All-Ords dropped this week by 1.03% while the A-REIT Sector dropped 1.95%. The Aud$ appears to be holding, for now, in the US$0.75 - US$0.76 range. The Dow-Jones index jumped 191.48 points on Friday (their time) on the back of a better than expected jobs report. No doubt this will effect our Dollar on Monday. Hopefully this will flow into further gains in our All-Ords and the A-REIT Sector.

*The Aud$ v US$.*




*The All-Ords.*




*The A-REIT Sector.*





The *A-REIT Table* for closing prices for Weekending * 05 August 2016 * follows:






*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 27 May 2016, can change from day to day due to active share buy-back programs and other factors.

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 27 May 2016. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*5.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## Logique (8 August 2016)

Official interest rate cut by a further 25 basis points recently.  Steady as she goes for A-REITs.


----------



## nulla nulla (14 August 2016)

*A-REIT Sector:  Weekending Friday 12 August 2016 *


This week the A-REIT Sector dropped 1.76% while the All-Ords climbed 0.73%. This makes two consecutive weeks of falls across the A-REIT sector. It was probably getting a little bit over heated with the influx of foreign investors seeking secure yields. There has to be a limit as to how high you can push property investment on the back of cheap finance versus an oversupply of offices and apartments coming onto the market in the next few years. The prospects of growth through further development must be tightening though there is likely still room for reduction of costs through mergers and takeovers.






The *A-REIT Table* for closing prices for Weekending * 12 August 2016 * follows:





*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 27 May 2016, can change from day to day due to active share buy-back programs and other factors.

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 27 May 2016. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*5.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (21 August 2016)

*A-REIT Sector:  Weekending Friday 19 August 2016 *


This week the A-REIT Sector moved sideways in a tight range. Some initial investor support with the release of year end figures, offset by profit taking among those investors unsure of future growth prospects.





The *A-REIT Table* for closing prices for Weekending * 19 August 2016 * follows:





*The comparison table of this weeks closing prices versus last weeks closing prices follows:*




*
Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 27 May 2016, can change from day to day due to active share buy-back programs and other factors.

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 27 May 2016. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*5.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (28 August 2016)

*A-REIT Sector:  Weekending Friday 26 August 2016 *


This week the A-REIT Sector made some small gains as the US Fed again spruked the likelihood of an interest rate rise. Although you would think this has been factored in by now there are still clumps of investors that get in a panic and dive into the A-REIT sector as a safe haven. Makes for ongoing volatility for those confident enough to trade the falls





The *A-REIT Table* for closing prices for Weekending * 26 August 2016 * follows:





*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 27 May 2016, can change from day to day due to active share buy-back programs and other factors.

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 27 May 2016. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*5.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## Logique (28 August 2016)

Thanks Nulla.

I think it's steady as she goes for Aussie property trusts in this low interest rate environment.


----------



## nulla nulla (4 September 2016)

*A-REIT Sector:  Weekending Friday 02 September 2016 *


This week the US Fed again spruked the likelihood of an interest rate rise and the market retraced. Mexico isn't going to pay for Donald Trump's wall, and Bill Shorten almost ambushed Malcom Turnbull with a Royal Commission into the Australian Banks. More  ongoing volatility for those confident enough to trade the falls.






The *A-REIT Table* for closing prices for Weekending * 02 September 2016 * follows:




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 27 May 2016, can change from day to day due to active share buy-back programs and other factors.

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 27 May 2016. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*5.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## edman79 (6 September 2016)

Hi Nulla,

On the first page of this thread you mention that the REITS had reduced their debt to equity ratios since the GFC  making them a safer investment. Do you have the figures for the amount of debt each of the REITs are carrying now?

Ed.


----------



## nulla nulla (7 September 2016)

edman79 said:


> Hi Nulla,
> 
> On the first page of this thread you mention that the REITS had reduced their debt to equity ratios since the GFC  making them a safer investment. Do you have the figures for the amount of debt each of the REITs are carrying now?
> 
> Ed.




I don't have the debt to equity figures at hand for each of the shares making up the A-REIT Sector. You would need to go through the Annual Reports for each stock.


----------



## nulla nulla (11 September 2016)

*A-REIT Sector:  Weekending Friday 09 September 2016 *


Since 01 August 2016, the A-REIT sector has dropped form an inter-day high of 1562.3 to close out on Friday 09 September 2016 at 1417.697, a drop of near enough 10%. Is this the correction we had to have? Are we at a point from which we will again move sideways and upwards or is it the start of a bigger bear cycle?











*The comparison table of this weeks closing prices versus last weeks closing prices follows:*







*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 27 May 2016, can change from day to day due to active share buy-back programs and other factors.

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 27 May 2016. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*5.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (18 September 2016)

*A-REIT Sector:  Weekending Friday 16 September 2016 *

Monday wasn't our best day as the All-Ords (and the A-REIT'S) followed the lead from the Dow-Jones on the previous Friday. A lot of dithering around on Tuesday through Thursday with the Australian Markets clawing back some of their losses on Friday. Then of course the Dow-Jones dropped again on their Friday, likely setting another lead for our markets on Monday. Gotta love the volatility. Some of the A-REIT's are starting to look attractive again. Watch out for the impact of any further talk of Australia heading into Recession.





The *A-REIT Table* for closing prices for Weekending * 16 September 2016 * follows:





*The comparison table of this weeks closing prices versus last weeks closing prices follows:*







*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 27 May 2016, can change from day to day due to active share buy-back programs and other factors.

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 27 May 2016. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*5.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (25 September 2016)

*A-REIT Sector:  Weekending Friday 23 September 2016 *


On 09 September 2016 the A-REIT Sector closed at 1417.697, a drop of near enough 10% since early August. In the next three days trading the A-REIT Sector fell to an inter-day low of 1353.2 before recovering to close the day at 1378.597, down a further 3%.

On Friday 23 September 2016 the A-REIT Sector closed out the week at 1417.456, taking eight trading days to recover from the one days losses on 12 September 2016.  This sector is still down 10% from the August highs. On Friday night (our time) the Dow-Jones dropped 130 points. Likely our markets will fall on open tomorrow and the volatility will continue. Good luck. 






The *A-REIT Table* for closing prices for Weekending * 23 September 2016 * follows:





*The comparison table of this weeks closing prices versus last weeks closing prices follows:*




*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 27 May 2016, can change from day to day due to active share buy-back programs and other factors.

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 27 May 2016. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*5.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (2 October 2016)

*A-REIT Sector:  Weekending Friday 30 September 2016 *





This weeks excuse for a major sell off (and subsequent buy back) was Deutche Bank. Seems they were fined US$15 Billion by the U.S.A for being naughty boys and girls selling worthless derivatives back in the GFC. The German Government let it be known that they would not provide a bail-out for the bank. The share price of Deutche bank fell 65% this year but the global markets seem to have only started rumbling 2 weeks or so ago. The Dow-Jones had a hissy fit, the Dax had a panic attack and the doom and gloomers started selling off everything except resources.

Resources went up because the OPEC cartel decided to cut back supply and the price of oil (and petrol at the bowser) jumped by 10%. Meanwhile Deutsche Bank negotiated with the U.S.A and got the fine reduced to around US$5 billion and the Dow-Jones roared back up.  And the volatility in out markets continues. Good luck.


The *A-REIT Table* for closing prices for Weekending * 30 September 2016 * follows:





*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 27 May 2016, can change from day to day due to active share buy-back programs and other factors.

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 27 May 2016. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*5.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (9 October 2016)

*A-REIT Sector:  Weekending Friday 07 October 2016 *


It would seem that some Fund Managers have taken a set against the A-REIT's on the basis that the Australian Commercial Property Market is over inflated and due for a correction, so now is a good time to sell down A-REIT's. This is an interesting position for them to take as the Australian economy is steadily advancing, employment figures are good, inflation figures are on the low side, consumer confidence is high and retail spending is high. In fact consumer credit card debt is high as people spend, confident of their ongoing employment and their ability to service debt. Small business demand for office space is high, demand for affordable living is high and (as yet) the residential property market is absorbing the apartments developments reaching completion. Yields are high at the current level of prices and the likelihood of A-REIT's falling over in the present economical environment must be miniscule, so why the sell off?  Good luck.





The *A-REIT Table* for closing prices for Weekending * 07 October 2016 * follows:





*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 27 May 2016, can change from day to day due to active share buy-back programs and other factors.

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 27 May 2016. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*5.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (16 October 2016)

*A-REIT Sector:  Weekending Friday 14 October 2016 *


More of the same. This week it is the figures coming out of China, the likelihood of the Russian's cutting oil production in line with the United Arabic Nations and the US interest rates likely to go up. The A-REIT's struggled sideways then lifted slightly when the finance and resource sectors took hit on Thursday/Friday. Maybe this is a prelude to the old November retrace?






The *A-REIT Table* for closing prices for Weekending * 14 October 2016 * follows:






*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 27 May 2016, can change from day to day due to active share buy-back programs and other factors.

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 27 May 2016. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*5.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## peter2 (21 October 2016)

It's interesting to see this sector get pummeled by persistent selling.  Prices will get so low that value investors will start buying eventually.

Nulla, are you waiting for premium values to get into a historically attractive "buyable" range?


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## InsvestoBoy (21 October 2016)

peter2 said:


> It's interesting to see this sector get pummeled by persistent selling.  Prices will get so low that value investors will start buying eventually.
> 
> Nulla, are you waiting for premium values to get into a historically attractive "buyable" range?




The sector has been on a slow and steady rise since 2012, quite some time. Obviously it could develop into something much worse, but otherwise I think this sort of pullback can just as likely be healthy correction of that ongoing uptrend.

Disclaimer: I hold some REIT stocks.


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## notting (21 October 2016)

Pretty damn big trend ending mother of a head and shoulders forming on MGR.  
LLC presentation didn't go down to well yesterday either!!! (you'd think that 32B in the UK (LLC biggest international footprint by a mile) would be causing a bit of skittishness, not just due to property prices coming off significantly but the pound)

First the Casinos then maybe the ausi apartment splurge is about to be cracked down upon by the Chinese dictatorship!! 

Sell your houses, go short on Reits then by an apartment block after the collapse. (I am joking) You could do a bit of that but.

PS. Are you allowed to put brackets within brackets in English or is that just for mathematicians and dyslexics?


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## nulla nulla (24 October 2016)

peter2 said:


> It's interesting to see this sector get pummeled by persistent selling.  Prices will get so low that value investors will start buying eventually.
> 
> Nulla, are you waiting for premium values to get into a historically attractive "buyable" range?




Already bought some at attractive yield levels. Watching and waiting to see how far it can go before buying/trading more. The Chinese crack down on gambling has made me wonder if Chinese investment in foreign property will be curtailed as this has previously been muted as a means of Chinese money laundering. 

The biggest recent surge in A-REIT's was driven by negative interest bank rates (Europe & Japan) pushing foreign funds into A-REIT yields. I suspect there are a lot of foreign investment funds watching for entry points (if they are not already accumulating). Property prices are drawing a lot of political comment at the moment which is contributing to the pressure on A-REIT's. How much of it is popular grandstanding and hot air remains to be seen. The opening up of more crown land for residential development could play into the hands of some of the A-REIT's such as SGP.

Personally I don't trust fund managers spouting "sell A-REIT's" as it is a real possibility that they will stock up before they then recommend "buy" to their clients. 

The weekly update has been delayed as I was interstate on the week-end (Friday-Monday) with no internet access.


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## Bill M (25 October 2016)

peter2 said:


> It's interesting to see this sector get pummeled by persistent selling.  Prices will get so low that value investors will start buying eventually.




I am interested on buying the Vanguard REIT index ETF, quote VAP.

Last year at around this time the ETF was around $71.61 returning about 4.7%

This year the ETF is around $76.68 and returning about 5%.

I do not buy anything that doesn't return at least 5% so at these prices it is reasonable value and I cover the whole sector.

Today it might be an up day, so I will wait a few sessions until it slips back to around $76 and then I will buy it for my super as long term income. I could get better returns buy picking a few of my own but I prefer the safety of the ETF for a slightly lower return, cheers.


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## Bill M (28 October 2016)

Bill M said:


> Today it might be an up day, so I will wait a few sessions until it slips back to around $76 and then I will buy it for my *super as long term income*. I could get better returns buy picking a few of my own but I prefer the safety of the ETF for a slightly lower return, cheers.




Today it reached my value point and I bought in at $75.16


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## skc (28 October 2016)

nulla nulla said:


> The biggest recent surge in A-REIT's was driven by negative interest bank rates (Europe & Japan) pushing foreign funds into A-REIT yields. I suspect there are a lot of foreign investment funds watching for entry points (if they are not already accumulating). Property prices are drawing a lot of political comment at the moment which is contributing to the pressure on A-REIT's. How much of it is popular grandstanding and hot air remains to be seen. The opening up of more crown land for residential development could play into the hands of some of the A-REIT's such as SGP.




REITs prices have little to do with underlying property prices - that's why they are trade at a premium to NTA - it's all to do with the yield spread vs whatever risk free rate the buyer like to compare with. And it doesn't matter which rate these days... most of them are zero or less!

The NTA of a property is kind of a joke anyway. They get NTAs from "independent" valuations - which are probably as independent as S&P rating subprime mortgage CDO's. And valuations are derived by and large from the discount rate. There is not such thing as a true and tangible discount rate.... it's really what the other people are willing to pay.

And in an era where people are willing to pay NEGATIVE rates for bonds, it's no wonder that they are will to pay a high price (i.e. low discount rate) for REITs.

Just got to be careful when the sentiment reverses... which could be now.


----------



## kid hustlr (28 October 2016)

skc said:


> REITs prices have little to do with underlying property prices - that's why they are trade at a premium to NTA - it's all to do with the yield spread vs whatever risk free rate the buyer like to compare with. And it doesn't matter which rate these days... most of them are zero or less!
> 
> The NTA of a property is kind of a joke anyway. They get NTAs from "independent" valuations - which are probably as independent as S&P rating subprime mortgage CDO's. And valuations are derived by and large from the discount rate. There is not such thing as a true and tangible discount rate.... it's really what the other people are willing to pay.
> 
> ...




Really sound post SKC


----------



## nulla nulla (30 October 2016)

*A-REIT Sector:  Weekending Friday 28 October 2016 *


Freefall is probably the best word I can think of to describe the present state of the A-REIT Sector. The three (3) year chart shows the severity of the drop in the sector since August this year. The market has certainly corrected any exuberance in share price values bought on by the influx of cheap foreign currency since April this year. Now it seems we have to watch and see as to whether the share prices will continue to drop to or below the September 2015 values. Earnings have mostly gone up, distributions have mostly gone up and NTA values have increased. However some of the share price premiums to NTA have dropped back significantly. [NTA is not an indicator on its' own of a companies share value as most of the A-REIT's have sold off assets while retaining management rights and an income stream from them. However I consider that you might reasonably expect an A-REIT share to trade at or above this level.]

Property prices have held up (commercial and residential), occupancy rates are high, retail sales are higher (which is good for the shopping centre owners except Bunnings Warehouse Properties who are on notice that several locations will not be renewing their leases) and unemployment figures are at low levels. So why the doom and gloom? Why the low (and getting lower) price earnings ratios?

The tables represent the changes since weekending 14 October 2016.






The *A-REIT Table* for closing prices for Weekending * 28 October 2016 * follows:





*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 28 October 2016, can change from day to day due to active share buy-back programs and other factors.

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 28 October 2016. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*5.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## Toyota Lexcen (30 October 2016)

yes very frustrating NN,


----------



## peter2 (30 October 2016)

Would it be logical to assume that whatever reason exists for selling the REIT sector, would apply to the selloffs in SYD and TCL?


----------



## skc (30 October 2016)

peter2 said:


> Would it be logical to assume that whatever reason exists for selling the REIT sector, would apply to the selloffs in SYD and TCL?




Absolutely.

And the utilities stocks also - APA, SKI, AST, DUE being the big ones.

And to a lessor extent - TLS.


----------



## nulla nulla (31 October 2016)

peter2 said:


> Would it be logical to assume that whatever reason exists for selling the REIT sector, would apply to the selloffs in SYD and TCL?
> 
> View attachment 68632






skc said:


> Absolutely.
> 
> And the utilities stocks also - APA, SKI, AST, DUE being the big ones.
> 
> And to a lessor extent - TLS.




Yes. Infrastructure, A-REIT's, Utilities and to some extent Banks. It appears to be mostly driven by the large funds moving their investments into shares such as resources which are coming off lows and are perceived to offer more growth opportunity in the near future.


----------



## nulla nulla (6 November 2016)

*A-REIT Sector:  Weekending Friday 04 November 2016 *


Lets see what happens on Thursday/Friday this week.






The *A-REIT Table* for closing prices for Weekending * 04 November 2016 * follows:





*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 28 October 2016, can change from day to day due to active share buy-back programs and other factors.

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 28 October 2016. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*5.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (13 November 2016)

*A-REIT Sector:  Weekending Friday 11 November 2016 *


Our market started on Wednesday with a small climb on the back of optimism that Hilary was going to win. However by midday this looked doubtful and the market plunged, the All-Ords down 200 points before it recovered to be down 103 points. Then on Thursday and Friday the All-ords climbed on the coat-tails of the Dow Jones which closed on Friday (their time) at record highs.

I have included  charts for the Dow-Jones, the All-Ords and the A-REIT Property Sector. The comparison is interesting. I suspect that the All-Ords may climb another couple of hundred points on the back of U.S euphoria and the A-REIT's dip further as more funds are transferred into resources. However I think that this is bubble getting ready to pop. In my humble opinion the A-REIT Sector is now in "oversold" territory and will likely attract long term foreign investors before much longer.

*DJIA*




*All-Ords*




*A-REIT's*




The *A-REIT Table* for closing prices for Weekending * 11 November 2016 * follows:






*The comparison table of this weeks closing prices versus last weeks closing prices follows:*






*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 28 October 2016, can change from day to day due to active share buy-back programs and other factors.

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 28 October 2016. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*5.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (20 November 2016)

*A-REIT Sector:  Weekending Friday 18 November 2016 *


Resources up, resources down, Banking up, banking mixed as WBC went ex-div, A-REIT's down, then A-REIT's up 1.82%. All in all only minor changes overall for the week as the world looks to the U.S.A to see what leads they can garner from the President Elect Donald Trump, as to what he will and won't do and who he will put on his team. More crystal ball gazing, tea leaf reading, astrology and second guessing. Good Luck .





The *A-REIT Table* for closing prices for Weekending * 18 November 2016 * follows:






*The comparison table of this weeks closing prices versus last weeks closing prices follows:*




*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 28 October 2016, can change from day to day due to active share buy-back programs and other factors.

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 28 October 2016. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*5.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## peter2 (20 November 2016)

*REITS*:  The trend is still very much down, but there are minor indications of a pause.

_Left chart_:  Vanguard property ETF (VAP) Daily chart: There's been some buying last week which has caused the TMF (Twiggs Money Flow - volume indicator) to turn up. Bottom pane - brown squiggly line.

_Middle chart_: VAP - Weekly:  Last weeks price action shows a bullish bar, but much too early to call a pause of the strong trend down.

_Right chart_: Westfield Corp (WFD) weekly chart. This chart shows a much stronger bullish bar (bullish engulfing bar). It's the only REIT chart to show this so it's much too early to call a bottom in this sector.  WFD has been one of the weakest REITs so maybe demand has started here first.

The top panes in all charts show just how weak this sector has been relative to the XAO index. I don't trade REITS, but in a difficult market I'll trade anything with an acceptable RR opportunity. REITs aren't there yet, but it might be worth monitoring  each week for such an opportunity.


----------



## nulla nulla (27 November 2016)

*A-REIT Sector:  Weekending Friday 25 November 2016 *


The A-REIT Sector gained 2.6% this week only slightly less than the All-Ords. The Sector has clawed back some of it's losses for the second week running. Is this the start of a recovery for the sector? Is this an early start to a Christmas rally? Is this the start of a dividend rally in the lead up to xmas? There are plenty of shares in the sector that will go ex-div around xmas with some pretty good yield rates at current prices? Or is this just a dead cat bounce as the global investors continue to push funds into resources & bonds? Anyone looked at BHP, RIO and FMG lately?  Certainly makes for volatility. Good Luck .





The *A-REIT Table* for closing prices for Weekending * 25 November 2016 * follows:






*The comparison table of this weeks closing prices versus last weeks closing prices follows:*







*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 28 October 2016, can change from day to day due to active share buy-back programs and other factors.

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 28 October 2016. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*5.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (4 December 2016)

*A-REIT Sector:  Weekending Friday 02 December 2016 *

The A-REIT Sector rebound stalled and is looking more a dead cat bounce as global investors continue to push funds into resources & bonds. Early in the week the Chinese futures traders sold down resources only to see them rebound at the end of the week. Early in the week money flooded into our A-REIT sector only to see most gains evaporate on Thursday & Friday. There were good profits to be taken on the spreads with re-entry price levels recurring (for the brave) on Thursday and Friday. Certainly makes for volatility. Good Luck .







*The comparison table of this weeks closing prices versus last weeks closing prices follows:*




*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 28 October 2016, can change from day to day due to active share buy-back programs and other factors.

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 28 October 2016. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*5.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## peter2 (8 December 2016)

The chart of the Vangard property ETF, *VAP* is looking much healthier.
Price has broken through a sloping resistance line (not shown because it's not a strong indicator) and formed a higher low. This creates a low sized risk reversal opportunity if this sector interests you.

Other similar charts are *SYD*, *VCX*, BWP, CMW, DXS, GMG, MGR.


----------



## nulla nulla (11 December 2016)

*A-REIT Sector:  Weekending Friday 09 December 2016 *

This week the A-REIT Sector surged 3.75% to 1337 versus the All-Ords increase of 2.06% to 5615.80. Further the Dow Jones climbed to 19,756.85 prompting some reputable analysts to suggest that the Dow Jones will go past 20,000 in the short term.  With a current sector average price/earnings of 8.11% (excluding NSR) the A-REIT Sector appears to be a tad oversold and have significant scope for further growth (in my opinion).  All the negatives in the global market still exist so I find it hard to understand the exuberance that has emerged since the "Brexit" result, the win of Donald Trump in the U.S Presidential election and the resignation of the Italian Prime Minister (and the New Zealand Prime Minister).  However it all makes for volatility and opportunity for the quick and the brave.  Good Luck .





The *A-REIT Table* for closing prices for Weekending * 09 December 2016 * follows:





*The comparison table of this weeks closing prices versus last weeks closing prices follows:


*

*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 28 October 2016, can change from day to day due to active share buy-back programs and other factors.

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 28 October 2016. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*5.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (18 December 2016)

*A-REIT Sector:  Weekending Friday 16 December 2016 *


Some up some down. The US Federal Reserve increased interest rates as expect but what was not expected was the suggestion that interest rates could increase over the next twelve months by as many as 3 or 4 instances.  The market got the shakes and the xmas rally took an early holiday. Any excuse for a sell off and/or  a buy back. More volatility. Good Luck .





The *A-REIT Table* for closing prices for Weekending * 16 December 2016 * follows:




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*




*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 28 October 2016, can change from day to day due to active share buy-back programs and other factors.

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 28 October 2016. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.

*5.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (24 December 2016)

*A-REIT Sector:  Weekending Friday 23 December 2016 *



Any excuse for a sell off and/or a buy back. This week the buyers flocked in to capitalize on the previous weeks sell off and the A-REIT Sector was hot on the buy list. Investors pushed the sector up by 4.42% compared to the lift in the All-Ords of 1.54% for the week. Next week most of the A-REIT's will trade ex-div on Thursday 29 December 2016, so Wednesday will be the last opportunity for buyers to jump in for those relatively high yields. That of course could become a dividend trap as the shares do tend to drop after going ex-div. This year it will be interesting to see if they recover in value as quickly as they have in some of the previous years. Go the volatility. Good Luck and best wishes for safe and Merry Xmas and a prosperous New Year to all the readers.   .






The *A-REIT Table* for closing prices for Weekending * 23 December 2016 * follows:





*The comparison table of this weeks closing prices versus last weeks closing prices follows:*




*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 28 October 2016, can change from day to day due to active share buy-back programs and other factors.

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 28 October 2016. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The share codes listed in both Tables now hyper-link to the last page (mostly) of the corresponding ASF thread for that share.


*5.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.


*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (29 December 2016)

Most of the A-REIT's will trade "Ex-div" today. That and the Dow-Jones being down overnight will likely see price drops across the sector by the dividend amounts and possibly a little bit more. This could provide some re-entry points for the bold.


----------



## nulla nulla (31 December 2016)

*A-REIT Sector:  Weekending Friday 30 December 2016 *

A fairly flat week for the All-Ords and the A-REIT Sector with most of the big players on their Christmas holiday. This will likely continue until 09 January 2017. Most of the A-REIT's that went Ex-div on 29 December 2016 dropped in price on Thursdays opening then staged a slow recovery over Thursday and Friday getting back to or just below their closing prices before going ex-div. I suspect a few of the shares in this sector will continue to climb in the first week of January 2017 on small volumes. Good Luck  .







*The comparison table of this weeks closing prices versus last weeks closing prices follows:*




*Comments:*


*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 28 October 2016, can change from day to day due to active share buy-back programs and other factors.

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 28 October 2016. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (7 January 2017)

*A-REIT Sector:  Weekending Friday 06-January-2017 *


A  reasonable good end to the week with most of the shares in the A-REIT Sector holding above their ex-div prices. Volumes were mostly low but that is understandable with most of the fund managers being on leave until next week. Once again there appeared to be a bit of a sell off with investors channeling their funds out of Infrastructure and REIT's into resources and banks. Makes for volatility and perhaps opportunity. Good Luck  .





The *A-REIT Table* for closing prices for Weekending * 06-January-2017 * follows:




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*




*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 28 October 2016, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 28 October 2016. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The share codes listed in both Tables no longer hyper-link to the last page of the corresponding ASF thread for that share.

*5.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (14 January 2017)

*A-REIT Sector:  Weekending Friday 13-January-2017 *


Looks like the world is starting to realize that "talk is cheap". The market has been surging on speculation for those stocks that would benefit from the Donald Trump election hype.  However as Obama winds up his final term and the commencement date for Trump draws near, the lack of any substantial policy details to support how Trump is "going to make America great again" has caused a bit of unease in global markets. The US$ is down against most currencies, gold is up, banks are down and resources are jittery. Chinese export figures for November were also lower than expected and now everyone is waiting to see whether Christmas spending in December was sufficient to boost demand from China as well as boost the local economy.

A-REIT's took a beating last week and many of the shares have moved into "oversold" territory as per MACD charts and Relative Strength Index charts. Once again high yields and low price/earnings ratios must be starting to look attractive to overseas fund managers.  The volatility and perhaps opportunity continues. Good Luck  .





The *A-REIT Table* for closing prices for Weekending * 13-January-2017 * follows:





*The comparison table of this weeks closing prices versus last weeks closing prices follows:*






*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 28 October 2016, can change from day to day due to active share buy-back programs and other factors.

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 28 October 2016. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The share codes listed in both Tables no longer hyper-link to the last page of the corresponding ASF thread for that share.

*5.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## SilverRanger (15 January 2017)

Yes I'm seeing the deviations (the ones in "oversold" vs the ones aren't) last week as good trading opportunities too. The good old mean reversions should come in next week.


----------



## nulla nulla (21 January 2017)

*A-REIT Sector:  Weekending Friday 20-January-2017 *

A-REIT's took another beating last week. Many of the shares have moved further into "oversold" territory as per MACD charts and Relative Strength Index charts. The high yields and low price/earnings ratios that were starting to look attractive last week must look even more attractive this week to local and overseas fund managers (and likely to investors wanting to lock in returns better than bank rates etc).  Only problem is whether they may look even more attractive this time next week. The volatility and perhaps opportunity continues. Good Luck  .




The *A-REIT Table* for closing prices for Weekending * 20-January-2017 * follows:




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 20 January 2017, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 20 January 2017. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The share codes listed in both Tables no longer hyper-link to the last page of the corresponding ASF thread for that share.

*5.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (29 January 2017)

*A-REIT Sector:  Weekending Friday 27-January-2017 *

The A-REIT Sector rebounded almost 1.5% last week while the All-Ords continued its' run up by almost 1%. . While this doesn't sound impressive it was good to see the ten day falling streak of the A-REIT Sector take a break from the retrace. Additionally the MACD chart turned back toward the moving average (from the down side) and the Relative Strength Index chart also turned upward. On a cautionary note this could equally mean that the moving averages are still trending down but the daily averages have gapped back to the mean.  Most of the shares (in my opinion)  are still "oversold" and once again could look even more attractive to local and overseas fund.  Only problem is Resource and Property are still playing poor cousin to Banking and Mining. The volatility (and perhaps opportunity) continues. Good Luck  .





The *A-REIT Table* for closing prices for Weekending * 27-January-2017 * follows:




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*


*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 20 January 2017, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 20 January 2017. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The share codes listed in both Tables no longer hyper-link to the last page of the corresponding ASF thread for that share.

*5.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (5 February 2017)

*A-REIT Sector:  Weekending Friday 03-February-2017 *

The A-REIT Sector ended the week down slightly but relatively flat. Donald had a curt telephone conversation with Malcolm, which was later described as cordial. Wouldn't like to be around when things get tense. Donald finished off the week undoing the financial regulations put in place by Barak Obama. The Dow-Jones jumped 186 points their time Friday. Lets make America great again, bring on another financial global crisis. Good Luck  .





The *A-REIT Table* for closing prices for Weekending * 03-February 2017 * follows:




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*




*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 20 January 2017, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 20 January 2017. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The share codes listed in both Tables no longer hyper-link to the last page of the corresponding ASF thread for that share.

*5.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (12 February 2017)

*A-REIT Sector:  Weekending Friday 10-February-2017 *

This week the A-REIT Sector appeared to be back in favour (along with several other infrastructure shares) with positive gains from Monday through Thursday. However on Thursday night (Our time) the President Trump announced that he would be winding back much of the regulations imposed on the US Banks by the Obama administration following the GFC. The US investors liked this and the Dow Jones leapt overnight and Friday night our time, to finish the week at 20,269.37. Euphoria if ever I've seen it. On Friday our banks and resources jumped and the A-REIT's fell back or consolidated. Just what the world needs, relaxing of the financial regulations. The prospects of another financial global crisis just get better and better. Good Luck  .





The *A-REIT Table* for closing prices for Weekending * 10-February 2017 * follows:




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*




*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 20 January 2017, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 20 January 2017. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The share codes listed in both Tables no longer hyper-link to the last page of the corresponding ASF thread for that share.

*5.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (19 February 2017)

*A-REIT Sector:  Weekending Friday 17-February-2017 *

Only small gains this week for the A-REIT Sector although there does appear to be a support line developing at 1323 with resistance at 1377. Once the flight from REIT's and Infrastructure to banks and resources slows/stops, the A-REIT Sector may be able to break through the resistance level and return to some sort of sync with the All-Ords. Never-the-less the volatility and inherent opportunity continues. Mind you the spreads are a little tighter at the moment making it a little harder to pick entry/exit points. Good Luck  .





The *A-REIT Table* for closing prices for Weekending * 17-February 2017 * follows:




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 20 January 2017, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 20 January 2017. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The share codes listed in both Tables no longer hyper-link to the last page of the corresponding ASF thread for that share.

*5.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (25 February 2017)

*A-REIT Sector:  Weekending Friday 24-February-2017 *

Small gains for the A-REIT Sector in week ending 17 February 2017 followed by small losses this week. The resistance at 1377 came under threat on Monday but the push turned out to be a temporary bump and the sector pretty much flat lined for the rest of the week. The flight from REIT's and Infrastructure to banks and resources seemed to be continuing with significant turnover on some of the shares (11 out of 16 shares down for the week) but even Banking and Mining took a hit on Friday with the All-Ords finishing down for the week. Volatility continues, some up, some down and spreads are generally still very tight. Good Luck  .




The *A-REIT Table* for closing prices for Weekending * 24-February 2017 * follows:




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*




*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 20 January 2017, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 20 January 2017. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The share codes listed in both Tables no longer hyper-link to the last page of the corresponding ASF thread for that share.

*5.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (5 March 2017)

*A-REIT Sector:  Weekending Friday 03 March 2017 *

The chart for the A-REIT Sector pretty much says it all. No body is interested in pushing the share prices up but there is plenty of interest in soaking up the shares being dumped. Hence forth I will refer to the current euphoria in the broader market as the "Trump Effect".  It appears one of the perceived side effects of the Trump Effect is that a possible policy change to US taxation laws, where interest will no longer be a deductable expense, will impact on the big funds that are over leveraged. These funds may have to unload or sell down their portfolios to reduce their borrowing costs, which likely include REIT's. This may explain, in some part, why the A-REIT Sector with low price/earnings ratio's is lagging the rest of the market.

Volatility continues, some up, some down and spreads are generally still very tight. Good Luck  .




The *A-REIT Table* for closing prices for Weekending * 03 March 2017 * follows:



*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 20 January 2017, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 20 January 2017. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The share codes listed in both Tables no longer hyper-link to the last page of the corresponding ASF thread for that share.

*5.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (12 March 2017)

*A-REIT Sector:  Weekending Friday 10 March 2017 *

The "Trump Effect" continues to impact the market with Finance shares at euphoric highs and safe haven shares like property and gold being sold down. I suspect this is a combination of the euphoria surrounding President Trumps indication that he will reduce the Obama regulations on Banks combined with a possible start to the anticipated sell down of leveraged assets like REIT's. The resistance level on the chart for A-REIT's of recent weeks has proved too much of a hurdle for investors soaking up shares at good yield levels and low price/earnings ratio's, the sector ending the week down over 2% while the All-Ords climbed half of one percent. Go figure, the World is going mad not just Western Australia. Good Luck  .




The *A-REIT Table* for closing prices for Weekending * 10 March 2017 * follows:




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*




*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 20 January 2017, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 20 January 2017. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The share codes listed in both Tables no longer hyper-link to the last page of the corresponding ASF thread for that share.

*5.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (18 March 2017)

*A-REIT Sector:  Weekending Friday 17 March 2017 *

The "Trump Effect" continues to impact the market however an air of uncertainty has now crept into the market with the "Trump Honeymoon" fast approaching the first 100 days benchmark and the mixed signals are making the market jittery. Janet from the US Fed advised that there will be an interest rate rise shortly because the jobs report was good and the numbers claiming unemployment were down. National Australia bank jumped the rest of the banks with an interest rate hike on loans, with Westpac following on shortly after. No doubt the other banks will follow suit as they try to pass on their increased costs of offshore borrowings.

Interestingly I would have thought this would have an immediate negative effect on A-REIT's. US Funds incurring higher interest rates on the leveraged borrowings invested in property and infrastructure which they would not be able to claim as a tax deduction. I half expected that this would spark a sell down of said infrastructure and property investments but it didn't happen. In fact there was a buy up of most A-REIT's with good volume, causing the A-REIT Sector to bounce off the support area around 1320 and once again push toward the resistance level around 1375.  Both the All-Ords and the A-REIT Sector appear to be tracking sideways in fairly tight bands waiting for what I don't know. Good Luck  .




The *A-REIT Table* for closing prices for Weekending * 17 March 2017 * follows:




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*




*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 17 March 2017, can change from day to day due to active share buy-back programs and other factors.

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 17 March 2017. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* The share codes listed in both Tables no longer hyper-link to the last page of the corresponding ASF thread for that share.

*5.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (26 March 2017)

*A-REIT Sector:  Weekending Friday 24 March 2017 *


The A-REIT Sector went through another up an down week closing slightly lower than last week. The weekly movement is a poor indicator of the day to day action, hiding a significant retrace on Monday and Tuesday followed by a good recovery on Wednesday, Thursday and Friday. Plenty of opportunity for the bold and/or insane.


The Trump honeymoon suffered another setback with the proposed replacement of "Obama Care" not being voted on because the Trump team knew that it would get voted down. This setback has the market questioning whether or not any of Trumps other proposals will get the same treatment in what appears to be a hostile Republican Congress. The rumoured "Russian" link to Trumps election campaign continues to raise its head and is being investigated by the FBI. Undisclosed links to the Russians during the election campaign have already claimed two heads and the concern now is, how high up the Trump chain of command does the exposure go? The volatility continues. Good Luck  .




The *A-REIT Table* for closing prices for Weekending * 24 March 2017 * follows:




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*




*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 17 March 2017, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 17 March 2017. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (2 April 2017)

*A-REIT Sector:  Weekending Friday 31 March 2017 *

The A-REIT Sector powered up from the previous weeks low on Monday through Thursday breaking above the recent resistance level of 1376 reaching 1400 at close of business on Thursday. Unfortunately the slight drop back in the close of business on Thursday turned into a rout on Friday with the sector dropping back to finish the week at 1379.593, up 18 points on the previous Friday and only 3 points above the resistance line. Some of the retrace can be explained by "end of week profit taking" and some of it is likely due to fund managers wanting to rebalance their portfolios and generate a bit of client fees for the end of the quarter. The rest I put down to the volatility generated by the Global markets trying to anticipate outcomes of the Trump Administration. The volatility continues. Good Luck  .




The *A-REIT Table* for closing prices for Weekending * 31 March 2017 * follows:





*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 17 March 2017, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 17 March 2017. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (9 April 2017)

*A-REIT Sector:  Weekending Friday 07 April 2017 *

The A-REIT Sector breakout continued strongly for another week moving above the 1400 level to finish the week at 1410.9. There was plenty of volatility in the individual shares as profit takers pushed prices down and fresh investors snapped up opportunities for long term prospects. Some of the larger REIT's have been turning over higher than usual volumes prompting talk of takeovers and mergers within the sector. Dexus popped above $10.00. Cromwell is still stalking Investa Office. SGP is developing residential properties for first home buyers. The Reserve Bank is pressuring the big banks to charge housing investors higher interest rates. And the Trump impact stepped up a gear as attention moved away from his alternative health care plans and his banking deregulation plans to his muscle flexing and going toe to toe with Mr Putin. It all makes for lots of volatility and some opportunity. Good Luck  .





The *A-REIT Table* for closing prices for Weekending * 07 April 2017 * follows:




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.


*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 17 March 2017, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 17 March 2017. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## Logique (10 April 2017)

1440 looks the initial pattern breakout target there Nulla.  A momentum channel is there, good for participants


----------



## nulla nulla (15 April 2017)

*A-REIT Sector:  Weekending Thursday 13 April 2017 *

The A-REIT Sector breakout continued strongly for another week finishing the short week at 1452.32. It looked great with the sector outperforming the All-Ords for a change.

The biggest influence on our markets this week was the spectrum auction by our Federal Government. Telstra was excluded from the auction, TPG paid over the top for the spectrum and the market went into melt down selling off more than 250 million Telstra shares because "Telstra will lose revenue at some time in the future when TPG manages to build its' Mobile Phone Network", go figure.  The money had to go somewhere and I suspect a lot of it went into the relatively safe yields of the A-REIT's. However, at this point I feel like Gomez Adams from the tv show "The Adams Family", sell, sell, buy, buy. I sold off some of my A-REIT's and bought some Telstra.

The Trump effect continues as Trump, not content with taking Mr Putin to task for supporting the President of Syria, he is now pressuring the President of China to exert some calming influence on the divine leader of North Korea. Warships are being deployed everywhere and a $20 million bomb was deployed in Afghanistan to take out 36 ISIS terrorists. I guess Mr Trump felt he needed to make a point. Not sure who it was to though. Maybe the US Congress, back my Health Care changes and Banking deregulation or else?  Good Luck   I probably need it also.





The *A-REIT Table* for closing prices for Weekending Thursday* 13 April 2017 * follows:




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 17 March 2017, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 17 March 2017. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (23 April 2017)

*A-REIT Sector:  Weekending Thursday 21 April 2017 *

Another short week with the A-REIT Sector closing down around 1% on last week at 1436.12. Last weeks surge (coinciding with the Telstra sell off) ran out of steam early in the week but appeared to stabilize as profit takers pushed share prices down and confident investors soaked up most of what was on offer.

The Trump honeymoon got a boost this week on release of US Consumer Confidence figures but the sabre rattling continues with the US Vice President doing a sweep of the Pacific, no doubt to rally support for whatever Trump plans to do with North Korea. We live in interesting times.




The *A-REIT Table* for closing prices for Weekending Thursday* 21 April 2017 * follows:





*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 17 March 2017, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 17 March 2017. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (29 April 2017)

*A-REIT Sector:  Weekending Friday 28 April 2017 *

Another four day week with the A-REIT Sector closing down another 1.43% on last week at 1415.6 despite the All-Ords gaining 1%. The big losers this week were: Vicinity; Scentre Group; and GPT. Not sure why GPT got hit but there was a report recently that the impending arrival of online retail giant Amazon in Australia poses a threat to local retail outlets such as SCG & VCX.

Personally I think this negative outlook is misplaced for two reasons:

1. The local retail centres are drawing a larger proportion of their revenue, these days, from Fast Food, Cinema's and Specialty shops plus their grocery anchors like Coles and Woolworths; and

2. The expensive lesson of Masters, coming into Australia and failing to make the expected dent into Bunnings Hardware, is a good indicator that Amazon will not just breeze in and become number one overnight.

At times I wonder whether these concerns used to justify pushing aussie shares down are real or just hype dreamed up to push a share down so the hypers can buy low then sell later after pushing the same shares back up. Good luck.





The *A-REIT Table* for closing prices for Weekending Friday* 28 April 2017 * follows:




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 17 March 2017, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 17 March 2017. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (7 May 2017)

*A-REIT Sector:  Weekending Friday 05 May 2017 *

Another volatile week with an upsurge followed by a sell off. Probably more of the same next week. No doubt now that Trump has unwound Obama Care the market will push banks even higher in anticipation of Trump unwinding the banking regulations introduced under Obama. This could see a further sell down in A-REIT's. Although the sell down would likely see an uptake of the sales volume by investors keen to soak up longer term yield. Volatility, spreads and opportunity? Good luck.




The *A-REIT Table* for closing prices for Weekending Friday *05 May 2017 * follows:




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*




*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 17 March 2017, can change from day to day due to active share buy-back programs and other factors.

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 17 March 2017. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (14 May 2017)

*A-REIT Sector:  Weekending Friday 12 May 2017 *

After trending up from mid March to mid April, the A-REIT Sector has trended sideways and down since mid April. While the long term trend is still upward, we are a long way short of the highs of July/August 2016.  The Australian markets appear to be adrift in sea of  indifference as the All-Ords struggles to get anywhere near the highs of 2007 while the rest of the world has moved on to new highs. The A-REIT sector has an average P/E of 8.8 (excluding NSR) and yields range between 3.04% and 8.6%. Way better returns than bonds or bank rates yet the sector languishes behind the All-Ords and the rest of the world. Go figure.

The "Trump Effect" appears to be losing momentum as the Dow Jones seems to be baulking at going above 21,000. Now he wants to meet up with the President of North Korea on the one hand to kiss and make up, while on the other hand he has sacked the head of the FBI for getting to close to him in the investigation of alleged Russian meddling in the U.S elections. And all this time I thought the U.S was a democracy not a dictatorship.  Good luck.




The *A-REIT Table* for closing prices for Weekending Friday *12 May 2017 * follows:




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 17 March 2017, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 17 March 2017. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## Toyota Lexcen (14 May 2017)

spot on NN, our markets/companies are lagging behind, cant see how things are going to improve for Aus, low interest rates, mining boom exhausted, maybe gov has to start QE program

direct property is smashing share investment, cant see this change in the near term


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## Bill M (15 May 2017)

nulla nulla said:


> The A-REIT sector has an average P/E of 8.8 (excluding NSR) and yields range between 3.04% and 8.6%. Way better returns than bonds or bank rates yet the sector languishes behind the All-Ords and the rest of the world.



Today I bought some Vicinity Centres (VCX) for my Super fund.

Price $2.77
Yield, about 6.4%
With a decent portfolio of shopping centers (ownership and management of 102 Australian shopping centres) and a decent yield it will support my pension payments.

Also looking at 2 others but ideally I want to buy at lower prices. That is why I am staggering my buys and spreading it over 3 different REITS.


----------



## Bill M (19 May 2017)

2nd Parcel is bought for my Super Fund as a long term yield.

Bought CMW
Price .95c 
Yield, about 8.7%

Maybe next week it might go down more for my 3rd and final parcel. Looking at BWP or maybe SGP, depends which gets hit hardest/best value at the time.


----------



## nulla nulla (20 May 2017)

Bill M said:


> Today I bought some Vicinity Centres (VCX) for my Super fund.
> 
> Price $2.77
> Yield, about 6.4%
> ...




I'm a bit overweight in VCX, have been accumulating from $2.85 but I'm seriously looking at another parcel for my son if it goes under $2.70. Yields at this entry point way better than bank rates and potential for another 8-10%+ capital gain over the longer term.



Bill M said:


> 2nd Parcel is bought for my Super Fund as a long term yield.
> 
> Bought CMW
> Price .95c
> ...




CMW is also one I watch closely as it has one of the better yield rates, paying quarterly dividends and a lot of their income comes from jointly owned office properties. Also has potential to return to $1.02 - $1.03 giving a nice capital gain for those prepared to look/risk longer term. Recent low (within the last 12 months) was sub $0.90 from where it returned to $1.025 a more than 10% capital gain.

I guess these posts should really go in the threads for the individual shares.


----------



## nulla nulla (20 May 2017)

*A-REIT Sector:  Weekending Friday 19 May 2017 *

The "Trump Effect" suffered a severe setback this week with the U.S Congress setting up a special investigation to take a closer look at President Trumps connections to Russia during the election and since. This move seems to have been prompted by concerns that Trump sacked the head of the FBI because of the ongoing FBI investigation into Trumps campaign. In an effort to put out a small barbeque fire Trump may have started a house fire. Unusual for a President to sack the head of the FBI. Many see it as interference in their judicial system.

The global markets appear to be reacting to the likelihood of delays in the financial reforms promised by Trump in his campaign. Banks have led the market adjustment with significant falls and unfortunately A-REIT's have followed suite. A-REIT's finished 2% down for the week  dropping back below the resistance level of February/March. Some of those yields are crying out for a long term speculation buy, particularly as we are coming up to their dividend season. Is it safe or are the prices going to fall further?  Good luck.




The *A-REIT Table* for closing prices for Weekending Friday *19 May 2017 * follows:




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 17 March 2017, can change from day to day due to active share buy-back programs and other factors.

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 17 March 2017. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (28 May 2017)

*A-REIT Sector:  Weekending Friday 26 May 2017 *

The "Trump Effect" went into full-on "America First" mode last week. You would be forgiven for thinking President Trump was still in election mode as he manhandled foreign dignitaries to take centre stage in  a photo shoot at the G7 meeting and berated other attendees for not stumping up their dues. All for the benefit of reducing the burden on American tax payers.
The U.S markets seemed to react positively to the huge arms deal with Saudi Arabia however the All-Ords could only gain 0.40%. The A-REIT Sector gained 2% this week, reversing the previous weeks 2% fall. This is encouraging and it will be interesting to se where A-REIT prices go in the next four weeks as we head up to the next round of dividends. Good luck. 




The *A-REIT Table* for closing prices for Weekending Friday *26 May 2017 * follows:




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*




*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 17 March 2017, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 17 March 2017. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (4 June 2017)

*A-REIT Sector:  Weekending Friday 02 June 2017 *

The "Trump Effect" is on a roll as President Donald thumbed his nose at the rest of the world and declared there was no such thing as global warming. Markets gave a whoop of joy at the news that they can continue to slash and burn and pollute the world in the interests of their profits. The Dow is up, the All-Ords is up and A-REIT Sector gained a further 1.46% over last weeks finish. I suspect the run-up to dividends to be announced this month is a significant driver. Good luck. 




The *A-REIT Table* for closing prices for Weekending Friday *02 June 2017 * follows:




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*




*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 17 March 2017, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 17 March 2017. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (10 June 2017)

*A-REIT Sector:  Weekending Friday 09 June 2017 *

Britain went to the polls 3 years early, with the conservative government seeking re-election trying to capitalize on their majority, only to blow away their majority through lack luster campaigning and a negative reaction of the voters having to go to the polls early. Global markets soured as the week progressed as it became increasingly possible that there would be a change of government.

The All-Ords gave up 1.81% (more than 100 points) for the week and the A-REIT Sector dropped 3.1%, wiping out two weeks of gains. So much for the run-up toward dividends. Good luck. 




The *A-REIT Table* for closing prices for Weekending Friday *09 June 2017 * follows:




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 17 March 2017, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 17 March 2017. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (18 June 2017)

*A-REIT Sector:  Weekending Friday 16 June 2017 *

Another 4 day week for the All-Ords. The rest of the world is still going nuts politically but key issues appear to be: Donald Trump is being investigated as to whether the sacking of the head of the FBI was an attempt to interfere with the law; The British PM is still trying to put together a coalition to form government; Malcolm made fun of Donald at the winter ball but Donald can't remember who Malcolm is, and: The A-REIT Sector clawed back 4.29% for the week. This must be the run-up toward dividends. Good luck. 




The *A-REIT Table* for closing prices for Weekending Friday *16 June 2017 * follows:




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*




*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 17 March 2017, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 17 March 2017. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (25 June 2017)

*A-REIT Sector:  Weekending Friday 23 June 2017 *

The week started well on Monday with further gains in the A-REIT Sector. However all of Mondays gains and those of week ending 16 June 2017 were blown away when Moody's revised downward their ratings of Australian Banks citing their exposure to the Australian property market. Then, to rub salt in the wound, Morgan Stanley announced that the Australian Share Market would drop by 10% in the near future. A bit of Dejavu here as Souros took a large bet against the Australian Economy a few years back and Goldman Sachs jumped on the band wagon selling down their Australian Investments (before telling their clients to do the same) and the rest of the world shorted our markets until they had made their profits. Australian markets have been a bit of a washing machine for some time as the rest of the world works out ways & means of stripping out the 10% of wages for compulsory superannuation that employers/employees put into the market each year. We must be due for another rinse cycle. Meanwhile yields are once again very attractive and most of the A-REIT Sector is still cum div. Good luck. 




The *A-REIT Table* for closing prices for Weekending Friday *23 June 2017 * follows:




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 17 March 2017, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 17 March 2017. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## Logique (25 June 2017)

Thanks Nulla,
hadn't heard that Morgan Stanley prediction of a share market 10% fall.  When the banks are under attack the ASX struggles, that's for sure.


----------



## nulla nulla (2 July 2017)

*A-REIT Sector:  Weekending Friday 30 June 2017 *

There were some interesting factors impacting on the Australian Share Market this last week:

President Donald;
Ex Prime Minister Tony;
Possible interest rate rises in Europe (going from negative to zero?) and further interest rate rises in the U.S.;
A strengthening Australian Dollar;
A glut of oil on international markets pushing down the price of oil;
Most A-REIT's went ex-div on 29 June 2017; and
The speculation of a collapse in Australian Residential Property prices continues to grab media headlines.

A-REIT Sector share prices fell a further 4.9% to a six month low and may get lower. Meanwhile yields are even more attractive, price/earnings ratios are good and returns are way better than bank interest rates. Oh yeah, I forgot to add that fund managers did their usual trick in churning over stocks at the end of the quarter/fiscal year to generate fees and earn their bonuses. it will be interesting to see what gets snapped up as bargains in the next month. Good luck. 




The *A-REIT Table* for closing prices for Weekending Friday *30 June 2017 * follows:




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 17 March 2017, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 17 March 2017. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (9 July 2017)

*A-REIT Sector:  Weekending Friday 07 July 2017 *

The week started well for the A-REIT Sector however all semblance of their being any sort of  recovery was blown out the window with the sector finishing down a further 0.68% for the week. Long term bonds are selling at slightly higher yields than they have been on the premises that global economies are improving and inflation/interest rates will rise. I'm not sure that the Australian Reserve Bank agrees with this as once again interest rates were kept on hold. This week and last week has seen some shares trading below their net tangible asset value. This is hard to fathom as most A-REIT's are receiving  management fees from jointly owned properties, not just the properties making up their NTA. Returns on Equity are high, distributions/yields are high and their levels of borrowing are low. Hard to call. Good luck. 




The *A-REIT Table* for closing prices for Weekending Friday *07 July 2017 * follows:




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*




*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 17 March 2017, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 17 March 2017. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## Logique (9 July 2017)

Thanks Nulla,
terrible week for A-REITS.  In the background an international Bonds sell-off, but personally don't see the evidence of yield increase/interest rate rises, not in the US/Aus anyway. This market perhaps getting ahead of itself.

End of Aus financial year gyrations a factor also.

Just my feeling, but bargain hunting on value yields/distributions might come along soon for A-REITS.


----------



## peter2 (14 July 2017)

I've been mystified by the sell off in the REITS also. It has happened across the board including SYD, MQA and TCL. I'd like to know the reason as I don't understand it. 

I'm sensing an opportunity here for a swing entry back up. I've started nibbling at TCL as it seems to provide the best RR. 

Others that were showing relative strength to the XAO back in June were;
MQA, SYD, TCL,
REITS - APB BWP CHC DXS GMG GPT SCP


----------



## Quant (14 July 2017)

peter2 said:


> I'm sensing an opportunity here for a swing entry back up. I've started nibbling at TCL as it seems to provide the best RR.



TCL came up on my asx100 watchlist for bullish reversal earlier in week , triggering today


----------



## nulla nulla (15 July 2017)

*A-REIT Sector:  Weekending Friday 14 July 2017 *

The A-REIT Sector continues to dip although the rate of decent may have started to plateau. May have. The basis of the significant fall over the past 4-5 weeks continues to elude me.  The economy is supposed to be strong, employment is supposed to be relatively high, new jobs are supposed to be opening up, business confidence is supposedly high, office rentals/occupancy is good, consumers are still buying, so every thing should be looking good for A-REIT's.  However the spectre of a housing market retrace, constantly being pushed by the media and the same ratings agencies that talked up cdo's, seems to be having a bigger negative impact than warranted. Not just on A-REIT's but resources like Sydney Airport also. All my buy signals were hit long ago and yet the prices keep falling. Where to now, capitulation?




The *A-REIT Table* for closing prices for Weekending Friday *14 July 2017 * follows:




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*




*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 17 March 2017, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 17 March 2017. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## Logique (19 July 2017)

Nice bounce, off a low base, in the sector over the last week, and the $AUD surging to $79.40 USD would be helping to draw in some O/S investor funds.


----------



## nulla nulla (23 July 2017)

*A-REIT Sector:  Weekending Friday 21 July 2017 *

The Banks rallied this week on the back of the APRA release as to the quality of the deposits required to be held by our banks and the respective releases by the banks as to how they will have no problems meeting/exceeding these requirements within the required deadlines. The reserve bank released their monthly notes as to the state of the economy and interest rates, pretty much steady as it goes. However, the rally in bank shares was not enough to offset the falls in mining stocks (and telstra) with the All-Ords finishing down 37.5points (0.65%) for the week. While the A-REIT Sector gained 11.34 points (0.88%) it was hardly a flight to safety and makes the last two weeks gains look like a possible "dead cat" bounce more so than the start of a recovery. The Aud$ has climbed to US$0.79, speculation on a possible housing price collapse continues but may be easing and some sane heads have indicated that the imminent arrival of Amazon in Australia will take years and not days. Maybe some sanity will return to A-REIT share prices? Good luck.




The *A-REIT Table* for closing prices for Weekending Friday *21 July 2017 * follows:




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*




*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 17 March 2017, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 17 March 2017. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## peter2 (25 July 2017)

The announced $1.5 billion share buy back by *VCX* should add a bit of interest into this sector.


----------



## nulla nulla (30 July 2017)

*A-REIT Sector:  Weekending Friday 28 July 2017 *

The Trump effect went into reverse this week when President Donalds' proposal to cancel Obama-Care was defeated in a Republican controlled Senate. On the basis that President Donald can't get his way with the Senate on the removal of Obama-Care then he may not be able to get the proposed changes to the banking/financial system through also.  While markets around the world re-acted negatively, the A-REIT Sector enjoyed a further lift. Some of this is likely "flight to safety" investors but it would seem that some of it is also a reflection of confidence in the Australian Commercial Property market, with significant purchases by Singapore based REIT's as well as consolidations by Dexus and Vicinity.  Vicinity's announcement of a share buy back program also helped. Good luck. 




The *A-REIT Table* for closing prices for Weekending Friday *28 July 2017 * follows:




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 17 March 2017, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 17 March 2017. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (6 August 2017)

*A-REIT Sector:  Weekending Friday 04 August 2017 *

The Trump effect on the US markets bounced back this week when President Donald appointed a former four star General as his Chief of Staff and sacked the recently appointed press secretary. The Dow Jones surged over 22,000. You'd think the U.S.A was on a war footing? Our markets continue to struggle along at sub 2007 levels like a banana republic, go figure. I guess the best thing about last week was that we didn't go backwards. 




The *A-REIT Table* for closing prices for Weekending Friday *04 August 2017 * follows:




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 17 March 2017, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 17 March 2017. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (13 August 2017)

*A-REIT Sector:  Weekending Friday 11 August 2017 *

Now we know why President Donald appointed a former four star General as his Chief of Staff and sacked the recently appointed press secretary. He is on a war footing, "Locked and loaded".  And as the rhetoric heats up, like two children in the school yard trying to out bluff each other before one of them sums up enough courage (or stupidity) to throw the first punch, world markets fell as nervous investors pulled their funds out to build bomb shelters. Good Luck.




The *A-REIT Table* for closing prices for Weekending Friday *11 August 2017 * follows:




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 17 March 2017, can change from day to day due to active share buy-back programs and other factors.

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 17 March 2017. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## crackajack (13 August 2017)

should be good for the us dollar lol


----------



## nulla nulla (20 August 2017)

*A-REIT Sector:  Weekending Friday 18 August 2017 *

The shake up of President Donald's team continues as he ejects the White Extremist staffer from his team and scales back the school yard rhetoric in  regard North Korea. Markets are still jittery. Reporting season is well underway. Analists are have hissy fits dumping shares on the basis that results or future earnings are not up to expectation, even though those results and future expectations have already been indicated by the companies and share  prices have already trickled down in response.  A good opportunity for a short then a quick buy back.

Although the All-Ords appears range bound, the A-REIT Sector has made further recoveries. At some stage the spectre of Amazon hanging over our retail sector is going to be put in perspective and the fear-mongering will evaporate.  Until then, good Luck.




The *A-REIT Table* for closing prices for Weekending Friday *18 August 2017 * follows:




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 17 March 2017, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 17 March 2017. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (27 August 2017)

*A-REIT Sector:  Weekending Friday 25 August 2017 *

This week President Donald got a shake up as the Anti Racism Americans rallied and suggest that he might be a closet White Extremist because he was too slow to speak out against the Charlotte White Supremist murderer. The World Markets are pulling back in wonder as to what is going on in America. Our All-Ords is range bound as the local investors try to deal with: Whether or not they approve of Same Sex Marriage;  Whether or not half the politicians in Parliament are true blue aussies; and Whether or not Australians have too much personal debt and are going to default on their mortgages.  The fear-mongering is showing no signs of evaporating, the A-REIT Sector dropped a further 2% for the week and will probably continue to drop until overseas investors wake up to the low share prices and yields being higher than their local bank/bond interest rates.  Until then, good Luck.




The *A-REIT Table* for closing prices for Weekending Friday *25 August 2017 * follows:




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 17 March 2017, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 17 March 2017. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (2 September 2017)

*A-REIT Sector:  Weekending Friday 01 September 2017 *

The A-REIT Sector clawed back 1% after last weeks 2% drop, however the sector continues to struggle under the dual specter of a supposed housing price crash and the impending Australian domination of on-line retail buying by Amazon. Only time will tell whether the fear-mongers are right or wrong. However A-REIT's in Office properties continue to enjoy high occupancy rates and increasing property valuations, good rental returns and low incentive costs, so the sector isn't completely stuffed yet. For all the negativity surrounding retail, there is still high demand for Australian shopping centres, urban and suburban, by foreign investment companies. At least someone is confident enough to jump in. Good luck. .




The *A-REIT Table* for closing prices for Weekending Friday *01 September 2017 * follows:




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 17 March 2017, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 17 March 2017. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (10 September 2017)

*A-REIT Sector:  Weekending Friday 08 September 2017 *

The A-REIT Sector clawed back another 1% this week and is now head butting the previous months highs. It will be interesting to see if this proves to be a resistance level or whether the A-REIT Sector can continue to recover further. This week saw gains in SCP, SCG, VCX and WFD, while DXS, GMG, IOF and SGP fell back. The gains in the Retail based property shares were large enough to outweigh the falls in the Office/Residential property shares and lift the A-REIT Sector by 1.15%. Surprising when you consider the negativity dominating the retail based shares in this sector at  the moment.  Good luck. .




The *A-REIT Table* for closing prices for Weekending Friday *08 September 2017 * follows:




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 17 March 2017, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 17 March 2017. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## Logique (11 September 2017)

Seems to be gathering momentum, 2 month trend is our friend


----------



## nulla nulla (17 September 2017)

*A-REIT Sector:  Weekending Friday 15 September 2017 *

To much conflicting news for me lately. One moment we are in a bull market then someone else says we are in a holding market with little prospects for growth. One moment we are reportedly in a prolonged period of no wages growth, the next moment we are supposed riding a surge of national income. One moment there are reportedly more jobs than before but the next breath is that unemployment went up. Consumer saving is up, consumer spending is down, consumer confidence is high, Amazon is eventually going to start up, Christmas is coming, and Myer's report was less than analists wanted but in line with year two of the managements five year plan. Maybe Trump is right, the market is a flood with fake news making it hard to really know what is going on.  Good luck. .




The *A-REIT Table* for closing prices for Weekending Friday *15 September 2017 * follows:




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 17 March 2017, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 17 March 2017. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

B]Disclaimer:[/B] These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (23 September 2017)

*A-REIT Sector:  Weekending Friday 22 September 2017 *

Not a good week for the A-REIT Sector, down almost 2%. Apart from an impending nuclear war the negatives impacting out market seem to be linked to the tenure and plans of Janet Yeldon. Whether or not Trump will re-appoint her, whether or not she will serve out her term of appointment and the direction the Fed is going to take in respect of further interest rate rises. On the back of this our Reserve Bank hinted at the prospect of  interest rates in (wait for it) 2018. This prompted the local big banks to have a "me too" competition trying to second guess as to how many interest rate rises there could be. Then the A-REIT Sector went all wobbly at the knees on the basis that interest rate rises would impact on housing property values, residential mortgage defaults, oh and by the way, retail spending will be down.  Maybe sometime in 2018??? Smoke and mirrors, any excuse to organise a short. Meanwhile The A-REIT Sector is struggling along at February 2015 level.  Good luck. .




The *A-REIT Table* for closing prices for Weekending Friday *22 September 2017 * follows:




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 17 March 2017, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 17 March 2017. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (1 October 2017)

*A-REIT Sector:  Weekending Friday 29 September 2017 *

Seemingly a better week for the A-REIT Sector, recovering almost 1%. However if you take ABP, IOF and WFD out of the equation then it was a fairly mediocre week for the sector. Westfield jumped 4.12% seemingly on the back of the improved prospects of President Donald Trump being able to push through his tax reductions. You have to wonder at what stage the U.S. is going to reduce its debt?  Good luck. .




The *A-REIT Table* for closing prices for Weekending Friday *29 September 2017 * follows:




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*




*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 17 March 2017, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 17 March 2017. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (8 October 2017)

*A-REIT Sector:  Weekending Friday 06 October 2017 *

The A-REIT Sector started the week pretty much in line with last week then started to give up any prospects of lifting on the back of local data regarding a slight slowing in consumer spending (down .6 of one percent instead of being up .3 of one percent). Attributed to the rising cost of power bills reducing available funds for consumer spending. Everyone must have got their electricity and gas bills at the same time.

Also contributing was the Aud$ falling against the U.S$ because the Reserve Bank kept interest rates at their current level. Damned if you do and damned if you don't there. The inflation rate doesn't warrant a rate increase but low interest rates prop up domestic property values etc etc.  Good luck. .




The *A-REIT Table* for closing prices for Weekending Friday *06 October 2017 * follows:




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 17 March 2017, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 17 March 2017. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (13 October 2017)

*A-REIT Sector:  Weekending Friday 13 October 2017 *

The All-Ords chart for this week looks fantastic and our market is once again edging toward 5900. However the A-REIT Sector is still languishing by comparison, struggling under the negativity surrounding our domestic property market. This negativity has been around now for several years however the implosion is yet to happen. In fact if anything we continue to have strong auction clearances, relatively steady property prices, and minimal mortgage defaults. A-REIT Retail earnings are still strong in the face of tightening consumer spending. Business confidence is high reflecting good occupancy rates in the A-REIT Office sector and incentives are fairly stable to encourage lease holders to sign on. Yet the end of the world is near....one day.   Good luck. .




The *A-REIT Table* for closing prices for Weekending Friday *13 October 2017 * follows:




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 13 October 2017, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 13 October 2017. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (22 October 2017)

*A-REIT Sector:  Weekending Friday 20 October 2017 *

The All-Ords chart continues to shoot up like a cheap skyrocket on cracker night but like a cheap skyrocket it looks like it is fizzling out before the 6000 mark. The A-REIT Sector made gains this week also but continues to struggle to break above the 1346 point level. Trading since early July appears to be range bound, support coming in around the 1300 point level but not strong enough to lift the sector past the 1346 point level. Opportunities to trade if you are prepared to sift through the shares in the sector and work the small price differences. Otherwise a good time to soak up good yielding shares on the lows.   Good luck. .







The *A-REIT Table* for closing prices for Weekending Friday *20 October 2017 * follows:




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 13 October 2017, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 13 October 2017. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (29 October 2017)

*A-REIT Sector:  Weekending Friday 27 October 2017 *

The All-Ords skyrocket hit the 6000 mark early on Friday then the Australian High Court handed down their decision in respect of the 7 politicians under a dual citizen cloud. Five were given the all clear but Barnaby Joyce wasn't one of them. Who would have thought Mr Joyce (formerly "The Honorable Mr Joyce MP") would have such an impact on our markets. Within minutes of the announcement the All-Ords dropped 70 or so points before beginning a slow recovery through the afternoon to finish the week barely above last weeks finish. The A-REIT Sector also made gains this week, breaking above the 1346 point level but was unable to escape the Barnaby Joyce factor, finishing the week less than half of one percentage point higher than last week. Opportunities to trade the sector continue to present if you are prepared to sift through the shares in the sector and work the small price differences.   Good luck. .




The *A-REIT Table* for closing prices for Weekending Friday *27 October 2017 * follows:




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector. 

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 13 October 2017, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 13 October 2017. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (5 November 2017)

*A-REIT Sector:  Weekending Friday 03 November 2017 *

The All-Ords managed to close above 6000. WOW!!!! No US Property Market collapse on the horizon and minimal leveraging compared to 2007 and minimal margin loans compared to 2007, can our market push into new highs after languishing in the swamp for nine years?  The A-REIT Sector also made gains this week, moving further above the 1346 point level, be careful though. Christmas is coming and it is possible there will be a rally in the lead up to these shares going exdiv on what, in some cases, is a very attractive yield rate. Opportunities to trade the sector continue to present if you are prepared to sift through the shares in the sector and work the small price differences.   Good luck. .




The *A-REIT Table* for closing prices for Weekending Friday *03 November 2017 * follows:




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 13 October 2017, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 13 October 2017. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## Logique (9 November 2017)

XPJ is making a serious move Nulla - if it can hold above 1350 it would be a positive sign


----------



## nulla nulla (9 November 2017)

Be careful though. Most of them will go exdiv at the end of December. There will likely be some sort of build up before then followed by a sell off just before the exdiv dates as overseas investors lock in their profits before coming back in when the shares drop by the div amount. Good to see the retail shares get dragged along with the non-retail property trusts.


----------



## nulla nulla (11 November 2017)

*A-REIT Sector:  Weekending Friday 10 November 2017 *

The All-Ords gained a further 1.23% this week powering up to 6104 and the A-REIT Sector played catch-up banging on a hefty 4.2% to close out the week on 1413.29 points, a gain of near enough 58 points. I suspect some shorters may have elected to close out or reduce their positions to be on the safe side. The Dow took a minor retrace on Thursday/Friday so we may have a bit of a retrace on Monday. Who knows.   Good luck. .

For comparison 30 October 2015.




10 November 2017.





The *A-REIT Table* for closing prices for Weekending Friday *10 November 2017 * follows:




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 13 October 2017, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 13 October 2017. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (19 November 2017)

*A-REIT Sector:  Weekending Friday 17 November 2017 *

The roller coaster ride continues. Malcolm is in a muddle as the gap between him and Bill Shorten as preferred Prime Minister narrows and his approval rating is now well below that of Tony Abbot when Malcolm Rolled him for the top job. Malcolm's majority has evaporated as the citizenship debacle continues to eliminate Senators and MPs on the basis of where their mummy and daddy came from.

The Same Sex Marriage plebiscite got the nod from the Australian populace despite some intense campaigning by the "Vote No" camp. Oddly enough, after the result, the "Vote No" section of the Liberal/National Party Coalition want to have a hand in drawing up the legislation to change John Howards Marriage Act.

Global investors seem, once again, to have lost confidence in the Australian political process with all its indecisiveness, lack of direction and a willingness to get embroiled in mundane arguments about minor issues while failing to address major issues. This is, once again, having a negative impact on our financial markets.   Good luck. .




The *A-REIT Table* for closing prices for Weekending Friday *17 November 2017 * follows:




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 13 October 2017, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 13 October 2017. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (26 November 2017)

*A-REIT Sector:  Weekending Friday 24 November 2017 *

Amazon opened in Australia on Friday and I bought a washing machine from Bing Lee. The A-REIT sector took a battering early on Friday but finished the day and the week higher.  We will have to wait and see if the world ends next week or the market comes to realize that Amazon, in Australia, is probably going to face the same setup and competition problems that Masters faced trying to compete with Bunnings.    Good luck. .




The *A-REIT Table* for closing prices for Weekending Friday *24 November 2017 * follows:




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*






*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 13 October 2017, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 13 October 2017. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (3 December 2017)

*A-REIT Sector:  Weekending Friday 01 December 2017 *

This week the world had it spelt out to them as to who actually runs Australia. It is the heads (Chairmen and CEO's) of the big four banks. Collectively these eight people told Malcolm to stop stuffing around, posturing about not having a Royal Commission into the Banks and for him to hold an inquiry to restore global confidence in the strength and integrity of Australian Banks. Additionally they would help him with the  parameters of the investigation and co-operate fully with their nominated commissioner.   Malcolm promptly moved a motion to hold a Royal Commission into the Banks and the Superannuation Industry, particularly those Industry/employee Funds with Union representative on their boards. You have to give it to him. Malcom has surpassed Tony in the Back Flip Olympics by introducing a section for "Smoke and Mirrors and Sleight of Hand". The market dipped then rebounded as everyone had a good laugh.  Good luck. .




The *A-REIT Table* for closing prices for Weekending Friday *01 December 2017 * follows:




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 13 October 2017, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 13 October 2017. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (10 December 2017)

*A-REIT Sector:  Weekending Friday 08 December 2017 *

The chart for this week shows that the A-REIT Sector appears to be hitting a point of resistance. With two weeks to go before most of the shares in the sector go ex-div it will be interesting to see if the xmas rally can muster another surge or if the sector is doomed to retrace once again.  Good luck. .




The *A-REIT Table* for closing prices for Weekending Friday *08 December 2017 * follows:




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 13 October 2017, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 13 October 2017. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## Logique (13 December 2017)

Unless I'm leaping to conclusions on this, but the Westfield announcement seems to have provided a fillip to the Australian sector. The Lowy's selling offshore but retaining domestic assets.


----------



## nulla nulla (14 December 2017)

_I think that the Westfield Group take over initiated two things in the A-REIT Sector. 
The first was the recognition by indexes that the Retail shares in the sector are oversold and represent excellent value for potential acquisitions, mergers and takeovers. This review, on the back of the over hype of Amazon commencing in Australia, has encouraged a spurt of buying (most evident in Scentre Group and Vicinity). 
The second thing is a flow on effect from the first, in that shorters would have had to scramble to close out their shorts to lock in their profits driving even more buying. 
I suspect that there could be some profit taking by those punters that bought into the sector on the lows but once they have been cleared out, the potential for quick returns by way of dividends could prop up the share prices up to close to month end when they go ex-div. I'm not holding any WFD but am holding a boat load of SCG and VCX.  _


----------



## Logique (14 December 2017)

nulla nulla said:


> _I think that the Westfield Group take over initiated two things in the A-REIT Sector.
> The first was the recognition by indexes that the Retail shares in the sector are oversold and represent excellent value for potential acquisitions, mergers and takeovers. This review, on the back of the over hype of Amazon commencing in Australia, has encouraged a spurt of buying (most evident in Scentre Group and Vicinity).
> The second thing is a flow on effect from the first, in that shorters would have had to scramble to close out their shorts to lock in their profits driving even more buying.
> I suspect that there could be some profit taking by those punters that bought into the sector on the lows but once they have been cleared out, the potential for quick returns by way of dividends could prop up the share prices up to close to month end when they go ex-div. I'm not holding any WFD but am holding a boat load of SCG and VCX.  _



My mistake on the ticker, Westfield of course is WFD.  Price action on SCG and VCX, both doing well.


----------



## nulla nulla (15 December 2017)

Logique said:


> My mistake on the ticker, Westfield of course is WFD.  Price action on SCG and VCX, both doing well.




SCG and VCX both retraced from Wednesdays highs. Today will be interesting. I managed to lock in a profit in both parcels (Tuesday & Wednesday ) and will likely re-enter if they drop much further today.


----------



## nulla nulla (17 December 2017)

*A-REIT Sector:  Weekending Friday 15 December 2017 *

Last weeks resistance level got smacked out the door as the A-REIT Sector rallied on Tuesday on the news of a big bid for the Westfield Group.  Westfield's finished the week up 10% with CHC, GMG, SCG and VCX also beating the rest of the sector for a change. Although the surge ran out of steam on Thursday and Friday the gains out weighed the losses with the volumes suggesting that there is still plenty of interest in the sector. There will likely be some selling toward the end of this week as International holders lock in profits before their shares go Ex-Div and then pick them up again at the Ex-Div prices in the first few days of January 2018.  Good luck. .




The *A-REIT Table* for closing prices for Weekending Friday *15 December 2017 * follows:




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 13 October 2017, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 13 October 2017. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (24 December 2017)

*A-REIT Sector:  Weekending Friday 22 December 2017 *

The A-REIT Sector fell on it's arse this week, falling despite a Christmas rally on the All-Ords. In the absence  of any horrible news the only thing I can think off that would cause this fall is an exodus of foreign investments. Interest rate are rising in the US but stagnant in Australia, A-REIT divs are useless to foreign investors so they typically dump the shares in the run-up to them going ex-div then buy back in at the ex-div price  (effectively pocketing the div). Hopefully there will be a rally after 2 January 2018. Merry Xmas and Good luck. .



	

		
			
		

		
	
 [insert property sector chart here]

The *A-REIT Table* for closing prices for Weekending Friday *22 December 2017 * follows:




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*




*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 13 October 2017, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 13 October 2017. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (31 December 2017)

*A-REIT Sector:  Weekending Friday 29 December 2017 *

Looking back on 2017 you would be forgiven for thinking that the A-REIT Sector traded relatively flat for the year finishing down 0.68 of 1% while the All-Ords managed to grow 7.84% for the year. However if you look at the day to day movement in the Sector you see that there were plenty of opportunities for the confident to back their judgment and trade the swings. The last week of 2017 saw most of the A-REIT Sector go Ex-div and, as expected, the closing prices fell accordingly. I look forward to 2018 and anticipate there will be plenty of trade opportunities. I also expect the Retail section of the A-REIT's to stage a recovery (of sorts) as the spectre of Amazon on-line trading in Australia diminishes. Have a happy and safe New Year. Good luck. .




The *A-REIT Table* for closing prices for Weekending Friday *29 December 2017 * follows:




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*




*The comparison table of this years closing prices versus last years closing prices follows:*




*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 13 October 2017, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 13 October 2017. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## UMike (1 January 2018)

Good work again this year.
Still got my BWP parcel and hope to take advantage of another Peak (swing).

All the best for the new year and hope to keep reading your observations.


----------



## nulla nulla (7 January 2018)

*A-REIT Sector:  Weekending Friday 05 January 2018 *

The All-Ords managed to close the week at a 10 year high. The A-REIT Sector fell for the second consecutive week. The All-Ords looks like it can go further but I suspect there will be a fair bit of sideways movement to come this year. The A-REIT's will likely lift on the back of business confidence and office occupancy but retail will cause a lot of sideways movement as shopping centres rebalance their store makeup (food hall, specialty shops etc) to keep customers coming in the doors. I expect the rumor mongering about the impact of Amazon will ease but recovery for retail share will likely be a slow one. Lots of volatility and likely lots of opportunity for the quick, brave and insane. Good luck. .

All-ORDS




A-REIT Sector




The *A-REIT Table* for closing prices for Weekending Friday *05 January 2018 * follows:




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 13 October 2017, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 13 October 2017. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (14 January 2018)

*A-REIT Sector:  Weekending Friday 12 January 2018 *

The shine might have come off the All-Ords last week, as our all knowing fund managers and index managers returned to work after their ski holidays in Aspen Colorado and resumed their sell down of Australian shares but the A-REIT Sector positively started to rust. The surge in this sector from November through December was certainly a Christmas Rally as most of the shares issued dividend announcements and prepared to go ex-div. The sell down from late December is obviously more than a post ex-div share price adjustment. Despite positive jobs reports, business and consumer confidence reports and on going demand in the building industry the A-REIT Sector appears to be being shunned in favour of the mining industry???  How that sector can be seen to have more opportunity for growth and returns on investment escapes me. Many of the shares in the A-REIT Sector are now close to 20% off their highs and trading at or close to their NTA values. Is now the a time to sharpen the pencil and start buying or should we be worried that this sector is going to test the July 2017 lows?    Good luck. .




The *A-REIT Table* for closing prices for Weekending Friday *12 January 2018 * follows:




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 13 October 2017, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 13 October 2017. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (21 January 2018)

*A-REIT Sector:  Weekending Friday 19 January 2018 *

I guess the small comfort this week is that the A-REIT Sector fell less than the All-Ords did. Also the Aud$ climbed slightly above US$0.80. Also the North Koreans and South Koreans are sending a joint team to the Winter Olympics. The only thing consistent at the moment is the twit on twitter with his finger poised above the trigger for the biggest nuclear arsenal in the world. Good luck. .




The *A-REIT Table* for closing prices for Weekending Friday *19 January 2018 * follows:




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 13 October 2017, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 13 October 2017. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (28 January 2018)

*A-REIT Sector:  Weekending Thursday 25 January 2018 *

With only four (4) days of trading leading up to Australia Day, the bears and the shorters must have taken the week off, letting the A-REIT market drift sideways for the week. No major ups or downs. President Donald is doing a balancing act between letting the world know that America is open for business while trying to side step the FBI investigation into the pre election activities of his campaign team and his post election activities trying to suppress any investigation. One year on and the U.S markets have reached new highs with anticipation of deregulation and tax cuts but no-one seems to be happy? The planned wall will now be a fence (mostly pre-existing), immigration from the Middle East continues, trigger happy Americans keep killing and any negative press is fake news. Meanwhile, back in the real world, the Australian market is bogged down still struggling to get back to 2007 levels.  Good luck. .




* The A-REIT Table for closing prices for Weekending Thursday 25 January 2018 follows:*




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 13 October 2017, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 13 October 2017. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (4 February 2018)

*A-REIT Sector:  Weekending Friday 02 February 2018 *


A very chop and change week with opportunities for the confident day traders on Wednesday. However I find it hard to get enthusiastic while all the negativity continues about property prices and the overblown spectre of Amazon hangs over the Retail Shares. The dip in auction prices over December/January was 0.09%. This represents only nine thousand dollars ($9,000.00) per million dollars in a property price. Also who in their right mind is listing their property for auction or going to auctions over the Christmas New Year "holiday" period? Yet all the financial sprookers and news readers were clamoring about the "severe" downturn in Sydney property prices. Geez, talk about fake news.  Good luck. .




* The A-REIT Table for closing prices for Weekending Friday 02 February 2018  follows:*




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 13 October 2017, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 13 October 2017. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## Logique (4 February 2018)

Defensive qualities Nulla.  Equities are in for a bumpy start to the week.


----------



## nulla nulla (5 February 2018)

Logique said:


> Defensive qualities Nulla.  Equities are in for a bumpy start to the week.




The Dow Jones was down 666 points on Friday. While our market is nowhere near as overheated as the US markets it is likely we will see a rout on the scale of the DAX as the fear-mongers and shorters try to capitalize on the nervous punters. It will be interesting today to see if there is a flight to the "safe" sectors or just a flight to cash.


----------



## nulla nulla (11 February 2018)

*A-REIT Sector:  Weekending Friday 09 February 2018 *

I spent this week in sunny down town Broadbeach, just south of the Gold Coast.  The week was supposed to be wet to start off with then a heat wave to finish off. Well the weather was fantastic all week. Typically, when I arrived I set up my laptop with the additional "24" screen to monitor my watch lists and various sectors. However, unlike previous years, as soon as I saw what was going on with the Dow Jones and the subsequent panic on the All-Ords (or robots out of control) I switched every thing off, packed up all the gear and went to the beach. There is an old saying in business "I can go just as broke laying on the beach all day as I can throwing good money after bad." At least this week I will come away with a tan. Best holiday I have had in years. Good luck. .




* The A-REIT Table for closing prices for Weekending Friday 09 February 2018  follows:*




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 13 October 2017, can change from day to day due to active share buy-back programs and other factors.

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 13 October 2017. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## Toyota Lexcen (11 February 2018)

hahaha


----------



## nulla nulla (19 February 2018)

*A-REIT Sector:  Weekending Friday 16 February 2018 *

I'm not sure if this weeks fall in the A-REIT Sector can be attributed to the Annual Reports coming out being worse than analyst expectations, the prospects of interest rate rises in 2 years, the booming (?) U.S. economy, the winter Olympics in South Korea or the ructions in the Australian Parliament over Barnaby Joyce and his adventures. Whatever the cause, the A-REIT has taken a pounding hitting ridiculous lows and the push down seems relentless. Good luck. .




* The A-REIT Table for closing prices for Weekending Friday 16 February 2018  follows:*




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 13 October 2017, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Earnings", "Distribution" and "NTA" figures have also been updated as at 13 October 2017. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (24 February 2018)

*A-REIT Sector:  Weekending Friday 23 February 2018 *

Some good reports, suggestions of potential for take-overs and mergers, some spirited buying and the relentless sell down took a break for the week.  The tables have been updated to reflect the release of recent financials. The earnings, price earnings, dividends, yield and discounts on price to nta, bely belief for some of the shares. Hard to understand why the A-REIT Sector is trending down across the board when the All-Ords is breaching 6000+. Good luck. .







* The A-REIT Table for closing prices for Weekending Friday 23 February 2018  follows:*




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 23 February 2018, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Capital", "Earnings", "Distribution" and "NTA" figures have also been updated as at 23 February 2018. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (4 March 2018)

*A-REIT Sector:  Weekending Friday 02 March 2018 *



The week started well with strong buying in the A-REIT Sector on Monday and Tuesday them President Donald opened his mouth about putting tariffs on Steel & Aluminum imported into the U.S and Malcolm and some of his best mates returned from their jaunt to the U.S and started spruking the so called merit of tax cuts for big business. Well the market knows that protective tariffs are bad news for any economy and everyone knows that there is no trickle down effect from tax cuts to big business, they just pay themselves bigger bonuses. Australia (and probably the U.S) needs real wages growth. This puts more spending power in the hands of the consumers, drives demand and boosts economies. Naturally the Dow Jones dropped like a jet that has run out of fuel and dragged our markets down with it. Good luck. .




* The A-REIT Table for closing prices for Weekending Friday 02 March 2018  follows:*




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 23 February 2018, can change from day to day due to active share buy-back programs and other factors.

*3.* The "Capital", "Earnings", "Distribution" and "NTA" figures have also been updated as at 23 February 2018. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## peter2 (5 March 2018)

It's not ready yet to go up, but it's getting closer. 
The sector has been stronger than the XAO in that it's hasn't gone down as much. 
The volume indicator TMF is showing accumulation.


----------



## nulla nulla (11 March 2018)

*A-REIT Sector:  Weekending Friday 09 March 2018 *

Someone reminded President Donald that Australia was an Ally and bought a lot of  expensive military equipment from the U.S which could be bought somewhere else if our economy was stuffed up by President Donald's tariffs. President Donald decided to exempt Australia from the tariffs after sharing a secret handshake with Prime Minister Malcolm. This made Malcolm very happy as he hopes it will improve his polling so he can tell Ex-Prime Minister Tony to "stuff off".  Our markets initially dived then rebounded when everyone became friends again. Then President Kim decided he wanted to be friends as well and proposed a meeting with President Donald. The world likes this. I wonder if President Kim and President Donald will share a Nobel Prize for world peace?

The A-REIT sector is still down, some shares more so than others. It looks like there is a lot of accumulation happening (a few "substantial holding" notices) however I'm not convinced that we have experienced any capitulation yet. The price/earnings ratios are ridiculously low on the majority of shares. Additionally most of the shares have very low debt to equity levels. IMO there is no basis for the extent of the sell downs. However what would I know. Good luck. .




* The A-REIT Table for closing prices for Weekending Friday 09 March 2018  follows:*




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*




*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 23 February 2018, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Capital", "Earnings", "Distribution" and "NTA" figures have also been updated as at 23 February 2018. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (18 March 2018)

*A-REIT Sector:  Weekending Friday 16 March 2018 *

President Donald sacked his Secretary of State. Not face to face, or by memo, or by letter but let him find out from a news reporter that had read President Donalds tweet announcing the staff changes. SURPRISE!!!!!! This has to be one of the biggest WTF moments in the history of the U.S Presidencies. Is it even a legally recognised form of contractual communication?
Opposition leader Bill (foot in mouth) did his best to help Prime Minister Malcom's chances of staying in power (have to wait to see the results of the next poll) with his premature spurt on Franking credits and SMSF in pension mode. The Greens in Batman electorate couldn't believe their good fortune in the lead up to this weeks by-election.
The five year chart for the A-REIT Sector shows that the sector pretty much tracked sideways for the last three years, finding support around the 1250 - 1280 points area and enjoying the odd spike before being pushed back down. The present position could well be an accumulation stage as the hopeful gather up some good yield bearing shares in the run up to the June 2018 dividends. The next few weeks will be interesting. Good luck. .




* The A-REIT Table for closing prices for Weekending Friday 16 March 2018  follows:*




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 23 February 2018, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Capital", "Earnings", "Distribution" and "NTA" figures have also been updated as at 23 February 2018. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## peter2 (18 March 2018)

We have to be patient in this sector. I know of one short term trader that's on the edge of his seat for this reversal opportunity. Check out XPJ (short term chart). 


Scrolling through the REIT list I notice they're all ready to burst higher. 
A few have started early, CMW, GOZ, NSR, SCP.


----------



## peter2 (19 March 2018)

You're thinking, what is a short term momentum trader doing looking at this sector? A good opportunity is what I'm looking for and it doesn't matter which sector it is. Right now, this ol' REIT sector is presenting one. I'm using SGP as the example, but this opportunity is present in many charts in this sector.
1. By going sideways for the past month SGP is stronger than the XAO index (top chart).
2. The volume indicator TMF is rising (along with the OBV) indicating accumulation and demand. The TMF is above zero and has broken higher _before_ price. 
3. The downside exposure for this opportunity is low (0.20). If price falls <4.00, this opportunity is invalid. (But that might produce another, eg a spring)
4. If price does go higher then the initial target of the old highs produces a good RR of 3:1. 



Thanks to *nulla nulla* for keeping us informed on his favourite sector. If others posted regularly on their favourite sector the forum community would be much richer for it.


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## nulla nulla (24 March 2018)

*A-REIT Sector:  Weekending Friday 23 March 2018 *

President Donald signed off on the Tariffs on Steel and Aluminum imports to the U.S and their Dow Jones Index dropped 700 points and our All-Ords dropped 125 points. Naturally the A-REIT Sector dropped a bundle as well. The A-REIT had already started falling on Tuesday (after a good day on Monday) with the release of Job figures, arguments between politicians about the merit/impact of tax cuts to business, further discussion on culling franking credit refunds to Self Managed Superannuation Funds, the Australian Dollar falling against the U.S Dollar and any other excuse to push the Sector down disproportionally to the rest of the market. Once again, price/earnings ratios are much lower than any other sector and yields much higher. Go figure.   Good luck. .







* The A-REIT Table for closing prices for Weekending Friday 23 March 2018  follows:*




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*




*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 23 February 2018, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Capital", "Earnings", "Distribution" and "NTA" figures have also been updated as at 23 February 2018. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (31 March 2018)

*A-REIT Sector:  Weekending Thursday 29 March 2018 *

President Donald sent 60 Russians packing to demonstrate his support for Britain (and to prove he is not in league with the Russians, despite their help in getting him elected). So Australia joined the "me too" movement and sent two Russians Diplomats back to Russia. Russia had a laugh up their social collective sleeves and sent British, American and Australian Diplomats home. North and South Korea are getting really pally, North Korea is still pressing ahead with their nuclear program. I don't think President Donald sacked anyone this week (mind you it was a short week) but the big news this week was that Australia was caught out cheating at cricket. The world as we know it is coming to an end. 

This weeks chart is the A-REIT Sector (blue line) Versus the All-Ords (green line) over the past 12 years. Good luck. .




* The A-REIT Table for closing prices for Weekending Thursday 29 March 2018  follows:*




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 23 February 2018, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Capital", "Earnings", "Distribution" and "NTA" figures have also been updated as at 23 February 2018. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (8 April 2018)

*A-REIT Sector:  Weekending Friday 06 April 2018 *

On Tuesday the A-REIT Sector was slapped back to the lows of the previous Monday. It looked bleak. I wondered whether the sector had finally reached the capitulation stage and was going to have a further sell off on Wednesday as everyone baled out. Fortunately it didn't happen. On Wednesday and Thursday the A-REIT Sector rallied and even managed to hold most of the gains on Friday.

Nearly all of the shares in the sector have debt gearing levels of less the 35%. Nearly all of them have high earnings per share ratios, nearly all of them have good yields and are trading at incredibly low price earnings ratios. The sell down is even harder to understand when you look at the ownership of the shares. Much of the ownership is held by the majority share holders. In many instances there is less than 40% of the shares available for minority share holders and the substantial holder notices indicate that the majority share holders are happy to accumulate more at these prices. Makes you wonder if some of the majority shareholders are lending their holdings out to shorters (for a fee) then adding to their holdings when the shorters push the prices down. Win Win?  Good luck. .




* The A-REIT Table for closing prices for Weekending Friday 06 April 2018  follows:*




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 23 February 2018, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Capital", "Earnings", "Distribution" and "NTA" figures have also been updated as at 23 February 2018. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (15 April 2018)

*A-REIT Sector:  Weekending Friday 13 April 2018 *

I can't help but wonder at what point in time (if ever) will the A-REIT Sector recover to a level consistent with the All-Ords as distinct from the All-Ords experiencing a correction and dropping back to an equivalent level with the A-REIT Sector? Most shares in the sector have experienced drops of between 20% - 30% off their recent highs. Yet commercial property prices are  holding or still climbing, the economy is still growing (slowly), occupancy levels are high (Office and Retail) and income across the sector is relatively stable and certainly hasn't dropped by 20% - 30%. Even Goldman Sachs has rated some of the shares as buys given their high yield levels and share prices trading below net tangible asset levels. ????????????????? Good luck. .




* The A-REIT Table for closing prices for Weekending Friday 13 April 2018  follows:*




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 23 February 2018, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Capital", "Earnings", "Distribution" and "NTA" figures have also been updated as at 23 February 2018. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## InsvestoBoy (15 April 2018)

nulla nulla said:


> ?????????????????




The price of the REIT does not reflect what's happening today, more like what the market thinks will happen over the long term in the future.


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## nulla nulla (21 April 2018)

*A-REIT Sector:  Weekending Friday 13 April 2018 *

rant rant rant rant rant....There, I've had my little rant and got it out of the way. While it is obvious that investors are shying away from yield stocks like REIT's, some Infrastructure and Telco's (even Banks) what is not obvious is why. Why have the market movers decided that the time is right to move away from the safety of high yields low price/earnings ratios and slow but steady growth? Why are these market movers now chasing speculative stocks with low yields, higher price earnings ratios and dubious growth?  Resource shares like Rio Tinto and BHP have jumped back up to near 2007 levels and safe shares have dropped back to 2015 levels. Yet the world economies are only plodding along. Oil is only US$65.00 per barrel, argy bargy is going on every where, refugees and displaced people are at all time highs creating havoc for communities all over the world. President Donald is playing brinkmanship with President Vladimir (and his mates), organising a sit down with Kim Jong-un and embarking on a Trade War with President Xi Jinping. It would take years and incredible debt for America to redevelop the infrastructure needed to replace the cheap imports from China with American made produce. The U.S is already heavily reliant on China through the sale of Treasury bonds etc during the GFC (and wants China to devalue the yuan). Where does President Donald expect to raise all the funding needed? So in this environment the market movers and shakers are confident that now is the time to speculate on possible growth stocks rather than demonstrated, consistent yield and return on investment. Yeah right. Good luck. .




* The A-REIT Table for closing prices for Weekending Friday 13 April 2018  follows:*




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 23 February 2018, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Capital", "Earnings", "Distribution" and "NTA" figures have also been updated as at 23 February 2018. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (28 April 2018)

*A-REIT Sector:  Weekending Friday 27 April 2018 *

Well hasn't Prime Minister Malcolm been a busy boy this week. Anzac Day in France,  off to Germany to discuss border control with the German Chancellor (not so easy when your country is surrounded by other members of the EU all with open borders) and sucking up to the Royal Family in Britain (trying to get an invite to the forthcoming wedding of Prince Harry and Miss Markle?). A perfect week for him to put some distance between himself and the Royal Commission he did not want to have on the basis that it was unjustified and a waste of public money. (Talk about backflips, his back must be aching this week). Naturally the banks took a hit along with AMP. And even ASIC got a good spanking. Way to go. Poll number 32 coming up, the natives are getting restless.  What's on the agenda this week? Good luck. .




* The A-REIT Table for closing prices for Weekending Friday 27 April 2018  follows:*




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*




*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 23 February 2018, can change from day to day due to active share buy-back programs and other factors.

*3.* The "Capital", "Earnings", "Distribution" and "NTA" figures have also been updated as at 23 February 2018. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## peter2 (30 April 2018)

Break-out in XPJ with plenty of room to go higher.


----------



## nulla nulla (6 May 2018)

*A-REIT Sector:  Weekending Friday 04 May 2018 *


Seems there were some positive reports across the spread of A-REIT shares last week and some analysts revised their perspectives. No doubt some shorters also bought back to reduce their positions or lock in profits. Buying on Monday, Tuesday and Wednesday saw the sector gain 48 points (roughly 3.6%) before consolidating on Thursday and dropping back 17 points on Friday to finish the week up 31 points or roughly 2.5%. A sell off of Australian Shares on Friday is not uncommon as wary investors hedge their positions against any possible negativity from the U.S and Europe on Friday nights. However it was a welcome change to see the A-REIT Sector break out upwards through two recent levels of resistance, 1340 points and 1365 points. The challenge now to see the Sector hold above 1365 points and move through 1405 points. Good luck. .




* The A-REIT Table for closing prices for Weekending Friday 04 May 2018  follows:*





*The comparison table of this weeks closing prices versus last weeks closing prices follows:*




*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 23 February 2018, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Capital", "Earnings", "Distribution" and "NTA" figures have also been updated as at 23 February 2018. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (12 May 2018)

*A-REIT Sector:  Weekending Friday 11 May 2018 *


The A-REIT improved close to another one percent this week. I won't be surprised if it improves further in the lead up to the shares going ex-div next month. Given the way the finance sector is being pummeled now with all the big banks and AMP getting their skeletons dragged out of their closets, I wouldn't be surprised if some of their investors haven't been swapping over to A-REIT's. The Sector held above 1365 points for the week but slowed in the rate of recovery. I also won't be surprised if there is a retrace before the next upward surge. Good luck. .




* The A-REIT Table for closing prices for Weekending Friday 11 May 2018  follows:*





*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 23 February 2018, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Capital", "Earnings", "Distribution" and "NTA" figures have also been updated as at 23 February 2018. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (20 May 2018)

*A-REIT Sector:  Weekending Friday 18 May 2018 *

This week the A-REIT closed down one percent. As bad as it looked on Thursday afternoon, down two percent, on Friday it managed to recover one percent (half the weeks losses) on the back of strong buying. This helped lift the weeks close back to the 1465 recent support/resistance level. The A-REIT Sector should improve further in the lead up to the shares going ex-div next month. However, the finance sector is still being pummeled and the retrace during the week in the property sector seemed excessive. Good luck. .




* The A-REIT Table for closing prices for Weekending Friday 18 May 2018  follows:*




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 23 February 2018, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Capital", "Earnings", "Distribution" and "NTA" figures have also been updated as at 23 February 2018. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (27 May 2018)

*A-REIT Sector:  Weekending Friday 25 May 2018 *

This week the A-REIT Sector closed *up* 2.58 percent. Not only did it surge through the week, it closed just under/on the support/resistance level of 1405. With four or so weeks to go before most of the shares in the Sector go ex-div, there is every likelihood (in my humble opinion) that the Sector could rally a further 10 - 20 points. On a cautionary note however, in the past the sector has rallied in the lead up to going ex-div but fallen back in the few days trading immediately before going ex-div. Something to do with foreign investors opting out so they can come back in on the ex-div prices. Additionally there will undoubtedly be a bit of fiscal year end portfolio re-weighting by fund managers looking to boost their fees, which can force some prices up and others down. The finance sector is still being pummeled. If the market decides it is time to get back into banks there will probably be some investors transferring funds out of A-REITs' into banks. Good luck. .




* The A-REIT Table for closing prices for Weekending Friday 25 May 2018  follows:*




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*




*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 23 February 2018, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Capital", "Earnings", "Distribution" and "NTA" figures have also been updated as at 23 February 2018. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (2 June 2018)

*A-REIT Sector:  Weekending Friday 01 June 2018 *

Almost flat lining this week, the A-REIT Sector closed for the week just under the resistance level of 1405 points. Investa Office up 9% on announcement of a buy out offer that has received Directors recommendation to share holders, SGP down 4% (reasons unknown) and SCG down a little as investors react to consumer confidence reports and SCG continues to buy back shares. Hard to work out there if market sentiment is supporting the share price or the buy-back is propping the share price up. Good luck. .




* The A-REIT Table for closing prices for Weekending Friday 25 01 June 2018  follows:*




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 23 February 2018, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Capital", "Earnings", "Distribution" and "NTA" figures have also been updated as at 23 February 2018. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (10 June 2018)

*A-REIT Sector:  Weekending Friday 08 June 2018 *

Monday was good with an upward burst testing 1420 against the upper bar of the recent upward trading channel, likely on speculation of improved retail performance for the first quarter. However the news must have been below market expectations because the retrace Tuesday to Friday pushed the A-REIT Sector down for the week, below the resistance level of 1405.00. It is getting closer to the ex-div dates for most of the shares in the sector and the rally for the div doesn't seem to have eventuated, not looking good. Good luck. .




* The A-REIT Table for closing prices for Weekending Friday 08 June 2018  follows:*




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*




*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 23 February 2018, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Capital", "Earnings", "Distribution" and "NTA" figures have also been updated as at 23 February 2018. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*5.* Westfields (WFD) was delisted on 8 June 2018.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## InsvestoBoy (10 June 2018)

Hey nulla,

Any thoughts on why VAP went down by >6% on it's recent ex-div day? The quarterly dividend was worth only 1% or so...


----------



## nulla nulla (16 June 2018)

*A-REIT Sector:  Weekending Friday 15 June 2018 *

Friday trading lifted the A-REIT Sector up for the week, smack bang on the support/resistance level of 1405.00. It is getting closer to the ex-div dates for most of the shares in the sector and the rally for the div doesn't seem to be happening, although the economic (and retail) news was good this week and this could influence A-REIT share prices positively next week also.  Good luck. .




* The A-REIT Table for closing prices for Weekending Friday 15 June 2018  follows:*




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*




*Comments:*

*1.* The shares listed in the tables above make up the XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 23 February 2018, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Capital", "Earnings", "Distribution" and "NTA" figures have also been updated as at 23 February 2018. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (23 June 2018)

*A-REIT Sector:  Weekending Friday 22 June 2018 *

WOW. Finally a break out. The support/resistance level 1405 just got blown away as the A-REIT roared. Must be the anticipation of all those pathetic tax breaks for low and middle income earners in the short term and the prospect of them rushing off to the nearest shopping centre to buy a big Mac or yet another Ultra Hi Definition TV. Watch for the likely "ex-div" retrace mid to late next week.  Good luck. .




* The A-REIT Table for closing prices for Weekending Friday 22 June 2018  follows:*




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*




*Comments:*

*1.* The shares listed in the tables above make up the ASX 200 XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 22 June 2018, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Capital", "Earnings", "Distribution" and "NTA" figures have also been updated as at 22 June 2018. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*5.* The tables have been updated to include Charter Hall Long Wale, Viva Energy REIT and the change from Westfields to Unibail Rodamco Westfields.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## InsvestoBoy (28 June 2018)

InsvestoBoy said:


> Hey nulla,
> 
> Any thoughts on why VAP went down by >6% on it's recent ex-div day? The quarterly dividend was worth only 1% or so...




It was the payout for the Westfield sale...if anyone was curious...


----------



## nulla nulla (30 June 2018)

*A-REIT Sector:  Weekending Friday 29 June 2018 *

Not totally unexpected, the A-REIT gave up all the gains of the previous two weeks on Thursday and Friday after the majority of the shares in the sector went ex-div on Thursday.  On Friday with just over an hour of trading to go, it looked like the A-REIT Sector was going to reverse all of Thursday's sell downs. However in the last hour of trading the market moved into sell mode (although the volumes weren't all that high) with the days trading finishing in the red.  The Governments decision to shelve the bill to give big business tax cuts (due to the lack of numbers in the senate) was a probably a contributing factor. Bit of a dummy spit all round. Good luck. .




* The A-REIT Table for closing prices for Weekending Friday 29 June 2018  follows:*




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*




*Comments:*

*1.* The shares listed in the tables above make up the ASX 200 XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 22 June 2018, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Capital", "Earnings", "Distribution" and "NTA" figures have also been updated as at 22 June 2018. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*5.* The tables have been updated to include Charter Hall Long Wale, Viva Energy REIT and the change from Westfields to Unibail Rodamco Westfield.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (8 July 2018)

*A-REIT Sector:  Weekending Friday 06 July 2018 *

This week an amazing rebound in the All-Ords and the A-REIT Sector. No tax breaks for big business; declaration of a global trade war; our dollar drifting lower; banks under the spotlight for the increasing number of mortgages under pressure and the number of dubious business loans to small businesses, housing prices falling, no real wage growth, and the loss of week-end penalty rates going to curtail retail spending and impair even more mortgages. The list goes on. What am I missing that would make our markets surge? Good luck. .




* The A-REIT Table for closing prices for Weekending Friday 06 July 2018  follows:*




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the ASX 200 XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 22 June 2018, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Capital", "Earnings", "Distribution" and "NTA" figures have also been updated as at 22 June 2018. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*5.* The tables have been updated to include Charter Hall Long Wale, Viva Energy REIT and the change from Westfields to Unibail Rodamco Westfield.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (14 July 2018)

*A-REIT Sector:  Weekending Friday 13 July 2018 *

An interesting week, the trade war intensified but not to worry, President Donald has moved on. NATO copped a serve and was told the participation nations had to lift their contribution to cover cost "or else". With all the tact of a bull in a China shop, President Donald then went on to "Tea" with Her Majesty Queen Elizabeth II. Then reviewed the troops. President Donald is having a good old time being President and the world is still turning. Prime Minister Malcolm on the other hand suffered another set back in the polls as the Energy crisis in Australia reared its head again with former Prime Minister Tony harping on about the benefits of a coal powered power station. Now Queensland is picking up the cause. Former Labor leader Mark called  the present labor leader Bill a fibber and encouraged everyone to vote for Pauline of One Nation infamy. And so it goes on. Good luck. .




* The A-REIT Table for closing prices for Weekending Friday 13 July 2018  follows:*




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the ASX 200 XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 22 June 2018, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Capital", "Earnings", "Distribution" and "NTA" figures have also been updated as at 22 June 2018. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*5.* The tables have been updated to include Charter Hall Long Wale, Viva Energy REIT and the change from Westfields to Unibail Rodamco Westfield.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (22 July 2018)

*A-REIT Sector:  Weekending Friday 20 July 2018 *

President Donald has copped a serve for his big suck up to President Putin. The free world is in a state of shock. The markets shuddered at the manner in which President Donald so publicly turned his back on the U.S intelligence agencies. But wait, within 24 hours the master of spin was sprooking it is all a big misunderstanding. He meant to say "wouldn't" instead of "would". It looks like President Donald was being nice to protect the source of funding for the Trump Industries which coincidently are Russian. It also seems that President Donald has major issues with his "wood, would and wouldn't" as, yet another young lady has emerged as being paid off US$150,00.00 to cover up a relationship with President Donald back when his missus was giving birth to their son. Former President Bill had a reputation for being a pants man but this bloke makes Former President Bill look like a saint.

The A-REIT sector has been tracking sideways now for 5 weeks, range bound between 1405 - 1440. The Relative Strength Index looks like the Sector is peaking and the MACD Index also looks bleak,. My hopes that the Sector is going to breakout upwards are somewhat diminished. I feel that the sector is due for a breakout, but .... Good luck. .










* The A-REIT Table for closing prices for Weekending Friday 20 July 2018  follows:*




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the ASX 200 XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 22 June 2018, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Capital", "Earnings", "Distribution" and "NTA" figures have also been updated as at 22 June 2018. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*5.* The tables have been updated to include Charter Hall Long Wale, Viva Energy REIT and the change from Westfields to Unibail Rodamco Westfield.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (28 July 2018)

*A-REIT Sector:  Weekending Friday 27 July 2018 *

The All-Ords might have closed out the week at a new recent high but the A-REIT sector continues to track sideways struggling to stay in the upward channel above the support resistance level of 1405 points. There seems to be a bit of accumulation going on with volumes picking up for the last three days of the week lifting the RSI only so slightly above the moving average and the MACD upward toward the moving average.  Good luck. .




* The A-REIT Table for closing prices for Weekending Friday 27 July 2018  follows:*




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the ASX 200 XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 22 June 2018, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Capital", "Earnings", "Distribution" and "NTA" figures have also been updated as at 22 June 2018. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*5.* The tables have been updated to include Charter Hall Long Wale, Viva Energy REIT and the change from Westfields to Unibail Rodamco Westfield.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## debtfree (29 July 2018)

Hi @nulla nulla 

Thanks for your continued posts here, appreciate your time and effort. I just noticed *CMW *close price on Friday 27th July 18 was 1.12 and not 1.20. No big deal just thought you might like to know for your table.

Cheers ... Debtfree


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## nulla nulla (29 July 2018)

Definitely not $1.20. Must have been an early morning typo that slipped past the supervisor.


----------



## nulla nulla (4 August 2018)

*A-REIT Sector:  Weekending Friday 03 August 2018 *

The A-REIT Sector continues to track sideways, still in the upward moving channel but seemingly range bound between support at 1405 points and resistance at 1440 points.  SCG is due to go ex-div in another week or so and any post ex-div sell off will impact on the overall sector. In my humble opinion, this combined with the generally negative outlook for property prices (and possible interest rate rises as banks pass on the cost of rising interest rates overseas) makes it unlikely that the sector will break out above 1440 in the short term future. No doubt the associated fluctuation in prices across the Sector will provide scattered opportunities for short term trades. Good luck. .




* The A-REIT Table for closing prices for Weekending Friday 03 August 2018  follows:*




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the ASX 200 XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 22 June 2018, can change from day to day due to active share buy-back programs and other factors.

*3.* The "Capital", "Earnings", "Distribution" and "NTA" figures have also been updated as at 22 June 2018. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (11 August 2018)

*A-REIT Sector:  Weekending Friday 10 August 2018 *

The A-REIT Sector broke through the 1440 resistance level, tenuously, with strong trading early in the week only to fade on Friday, although still finishing the week at 1446.711.  No doubt this result was bouyed by the strong performance of SCG, up 3.55% for the week (SCG goes ex-div on Tuesday 14 August and pays the Div on 31August) and the stronger performance of VCX, up 4.15% for the week on the back of the news of a proposed $1 billion wholesale fund partnership with Singapore group Keppel. It is evident that there is still strong demand for Australian Commercial property. It is also evident that Retail A-REIT's continue to grow their profits despite the gloom and doom perspective of fund managers and analysts. Good luck. .




* The A-REIT Table for closing prices for Weekending Friday 10 August 2018  follows:*




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the ASX 200 XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 22 June 2018, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Capital", "Earnings", "Distribution" and "NTA" figures have also been updated as at 22 June 2018. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (18 August 2018)

*A-REIT Sector:  Weekending Friday 17 August 2018 *

The A-REIT Sector surged away from the 1440 resistance/support level on Friday closing out the week at 1467.93, mid way between the highs of April 2017 and November 2017.  1480 is the next target. Positive news (although somewhat incredible) on the lift in employment rates, wages growth(?), rising commercial property values (particularly offices), improved occupancy rates and retail sales growth. No doubt the dip in the value of the Aud$ (courtesy of President Donald's trade wars) also helped.

Can the A-REIT sector keep plodding sideways and upwards? While some of the shares are still well off their peaks others are breaking into new territory.    Good luck. .






* The A-REIT Table for closing prices for Weekending Friday 17 August 2018  follows:*




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the ASX 200 XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 22 June 2018, can change from day to day due to active share buy-back programs and other factors.

*3.* The "Capital", "Earnings", "Distribution" and "NTA" figures have also been updated as at 22 June 2018. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (26 August 2018)

*A-REIT Sector:  Weekending Friday 24 August 2018 *

A combination of politics and cautious Annual Reports saw the A-REIT Sector surrender most of last weeks gains to finish down for the week at 1434.757.  Former Prime Minister Tony is alleged to have masterminded a coup on Prime Minister Malcolm to install Minister Peter as the new leader. However, things didn't go to plan when it came down to the final vote with Peter getting run down in the shadows of the post by the late starter Minister Scott. Prime Minister Scott is now in charge. The Market liked this and surged strongly on the news of his success (or Peters lack of success) however the A-REIT has a long way to go to get back to last weeks levels.  Good luck. .




* The A-REIT Table for closing prices for Weekending Friday 24 August 2018  follows:*




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the ASX 200 XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 22 June 2018, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Capital", "Earnings", "Distribution" and "NTA" figures have also been updated as at 22 June 2018. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (2 September 2018)

*A-REIT Sector:  Weekending Friday 31 August 2018 *

Prime Minister Scomo (wth his American Baseball cap on) is now truly in charge. A new generation of leadership is at  the helm and their first task is to address the drought. Hmmm...if they can legislate rain they can do anything. Minister Peter is even deeper in the cess pool now over how he handled a couple of Au-pair girls with the wrong visas (pun intended). The Market however likes the new stability (after all the former Prime Minister Tony declared that "The era of the political assassin is over"). Peace and good will to the markets.  Good luck. .




* The A-REIT Table for closing prices for Weekending Friday 31 August 2018  follows:*




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the ASX 200 XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 22 June 2018, can change from day to day due to active share buy-back programs and other factors.

*3.* The "Capital", "Earnings", "Distribution" and "NTA" figures have also been updated as at 22 June 2018. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (9 September 2018)

*A-REIT Sector:  Weekending Friday 07 September 2018 *

The Australian Government is now leaking like a sieve. All the policy plans Prime Minister Scomo wanted to release in the lead up to next Mays elections have been leaked as plans that were already scheduled by former Prime Minister Malcolm, targeting vulnerable electorates. The Au pair ladies scandal (storm in a tea cup) continues to dog Peter. The big four Banks hiked interest rate although the Reserve Bank left them where they are. But the real news, Richmond beat Hawthorn, Melbourne beat Geelong, Great Western Sydney beat Sydney and West Coast Eagles beat Collingwood. Sydney and Geelong have been eliminated. Next week Melbourne plays Hawthorn.  Good luck. .




* The A-REIT Table for closing prices for Weekending Friday 07 September 2018  follows:*




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the ASX 200 XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 22 June 2018, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Capital", "Earnings", "Distribution" and "NTA" figures have also been updated as at 22 June 2018. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (16 September 2018)

*A-REIT Sector:  Weekending Friday 14 September 2018 *

Melbourne beat Hawthorn (sweet revenge) and Collingwood beat Great Western Sydney. Next week Collingwood plays off against Richmond and Melbourne plays off against West Coast Eagles. Australian politics is a shambles, Slater & Gordon are launching a billion dollar law suite against the banks (they need the money) and Prime Minister Scomo is proposing another Royal Commission, this one into Aged Care facilities. Another smokescreen as he desperately tries to shore up his numbers and protect his new friend, Peter Dutton. (A bit of the old saying "Keep your friends close and your enemies closer). The A-REIT Sector continues to track sideways barely in the long term upward channel.   Good luck. .




* The A-REIT Table for closing prices for Weekending Friday 14 September 2018  follows:*




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the ASX 200 XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 22 June 2018, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Capital", "Earnings", "Distribution" and "NTA" figures have also been updated as at 22 June 2018. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (23 September 2018)

*A-REIT Sector:  Weekending Friday 21 September 2018 *

The A-REIT Sector looked like breaking through the 1480 resistance level early in the week but collapsed 45 points on Wednesday, Thursday and Friday to be well and truly out of the upward moving channel. Although the fall slowed somewhat on Friday, there is a lot of negativity in the press about domestic property prices and interest rates that appears to be flowing into the market perception of commercial property values.  A pity really as this contrasts with the slow but steady increase in commercial property values (retail, office and industrial) as evidenced by the competing interests for IOF and the recent Annual Reports across the sector.  Good luck. .




* The A-REIT Table for closing prices for Weekending Friday 21 September 2018  follows:*




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the ASX 200 XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 22 June 2018, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Capital", "Earnings", "Distribution" and "NTA" figures have also been updated as at 22 June 2018. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (30 September 2018)

*A-REIT Sector:  Weekending Friday 28 September 2018 *

The Federal Reserve of the U.S.A. announced that interest rates were going up and our A-REIT dropped like ....well you know what. Some of the shares are holding up better than others. It seems that the retail shares are being hit the hardest. All the hoopla of rising interest rates, falling house prices, alleged strains on consumer spending (this isn't being supported at the cash register and is contradicted by increased household debt and credit card debt levels, which is underwritten by increased employment) but what the f.... lets sell down retail REITs.   Good luck. .




* The A-REIT Table for closing prices for Weekending Friday 28 September 2018  follows:*




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the ASX 200 XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 22 June 2018, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Capital", "Earnings", "Distribution" and "NTA" figures have also been updated as at 22 June 2018. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (7 October 2018)

*A-REIT Sector:  Weekending Friday 05 October 2018 *

The chart pretty much says it all. If the 1360 area doesn't hold up then it is any-ones guess where the A-REIT Sector is going.   Good luck. .




* The A-REIT Table for closing prices for Weekending Friday 05 October 2018  follows:*




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the ASX 200 XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 22 June 2018, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Capital", "Earnings", "Distribution" and "NTA" figures have also been updated as at 22 June 2018. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (14 October 2018)

*A-REIT Sector:  Weekending Friday 12 October 2018 *

Not a good week. The All-Ords dropped 5% and the A-REIT's dropped 4.3%. The trade war between the U.S.A and China is hotting up and the Dow dropped over 800 points in one session last week. The fallout around the world was immediate. Even the normally "safe haven" shares weren't safe. The A-REIT Sector is arguably still tracking upwards and sideways  (as per the 5 year chart) but if it doesn't turn around from here, it is likely to test the 1300 point level at the bottom of the three year channel. Normally I would say have your cash ready for the bargains but the bargains seem to keep getting better every day and the capital profits in this sector, are harder and harder to find.   Good luck. .




* The A-REIT Table for closing prices for Weekending Friday 12 October 2018  follows:*




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the ASX 200 XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 22 June 2018, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Capital", "Earnings", "Distribution" and "NTA" figures have also been updated as at 22 June 2018. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (21 October 2018)

*A-REIT Sector:  Weekending Friday 19 October 2018 *

How do you explain the reasons why there was a massive sell off of the A-REIT Sector last week and a rebound this week????? Now there is a suggestion that the RBA may lift interest rates because last months employment figures showed a reduction in the unemployed. Hasn't any-one worked out yet that people actually give up trying to find work after constantly being rejected for jobs because they are over 40???    Good luck. .




* The A-REIT Table for closing prices for Weekending Friday 19 October 2018  follows:*




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*




*Comments:*

*1.* The shares listed in the tables above make up the ASX 200 XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 22 June 2018, can change from day to day due to active share buy-back programs and other factors.

*3.* The "Capital", "Earnings", "Distribution" and "NTA" figures have also been updated as at 22 June 2018. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (28 October 2018)

*A-REIT Sector:  Weekending Friday 26 October 2018 *

Last week global markets turned to crap. The All-Ords and A-REIT  Sector were not exempt. Horrible thing about negative sentimentality. Analyst one says "the market is overheated" and sells off. Analyst two says "Analyst one is selling we should sell too", then Analyst three gets in one the act and the rest (and their clients) follow suite. Then they all sit back and say "Look how much the market has fallen, we were right" ignoring the fact that their negativity caused the rote.   Give it time and an Analyst will say "The market is oversold" and the rest will start buying also. Good luck. .



	

		
			
		

		
	
 ]




* The A-REIT Table for closing prices for Weekending Friday 26 October 2018  follows:*




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the ASX 200 XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 22 June 2018, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Capital", "Earnings", "Distribution" and "NTA" figures have also been updated as at 22 June 2018. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (4 November 2018)

*A-REIT Sector:  Weekending Friday 02 November 2018 *

Last week the A-REIT Sector spent the first two days trying to recover from the previous week but the last three days proved that the recovery was little more than a dead cat bounce. The sector is now struggling to hold above 1350. Good luck. .




* The A-REIT Table for closing prices for Weekending Friday 02 November 2018  follows:*




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*




*Comments:*

*1.* The shares listed in the tables above make up the ASX 200 XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 22 June 2018, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Capital", "Earnings", "Distribution" and "NTA" figures have also been updated as at 22 June 2018. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (11 November 2018)

*A-REIT Sector:  Weekending Friday 09 November 2018 *


The week before last,  the A-REIT Sector spent the first two days trying to recover from the previous week but the last three days proved that the recovery was little more than a dead cat bounce. However this week our markets rebounded, including the A-REIT Sector. What changed, well it seems that global markets like Donald Trump as President of the U.S.A. I find this really scary that someone who appeals to extreme right wing activists has a good chance of emulating Ronald Regan and serving two (2) terms as President of the U.S.A. Good luck. .




* The A-REIT Table for closing prices for Weekending Friday 09 November 2018  follows:*




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the ASX 200 XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 22 June 2018, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Capital", "Earnings", "Distribution" and "NTA" figures have also been updated as at 22 June 2018. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (18 November 2018)

*A-REIT Sector:  Weekending Friday 16 November 2018 *

The roller coaster goes up and down as the U.S and China exchange tit for tat over trade tarrifs and who controls the Pacific ocean. Our market continues to reel under the impending property market crash, which hasn't happened, along with negativity over the banking sector. Life goes on, opportunities arise for the brave and or insane, time for a cuppa tea, a bex and a good lie down. Good luck. .




* The A-REIT Table for closing prices for Weekending Friday 16 November 2018  follows:*




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the ASX 200 XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 22 June 2018, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Capital", "Earnings", "Distribution" and "NTA" figures have also been updated as at 22 June 2018. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (1 December 2018)

*A-REIT Sector:  Weekending Friday 30 November 2018 *

Sorry about last weeks non post. Meant to do it on Sunday morning but I ended up laid up for the week with no access to the laptop. Plenty of cups of tea, lie downs and some stuff stronger than bex though.  Just as well eh, the A-REIT Sector looked like starting an early xmas rally, then got the staggers on Thursday before completely capitulating on Friday. Bummer. Good luck. .




* The A-REIT Table for closing prices for Weekending Friday 30 November 2018  follows:*




*The comparison table of weekending 23 November 2018 closing prices versus the previous weeks closing prices follows:*




*The comparison table of weekending 30 November 2018 closing prices versus the previous weeks closing prices follows:*




*Comments:*

*1.* The shares listed in the tables above make up the ASX 200 XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 22 June 2018, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Capital", "Earnings", "Distribution" and "NTA" figures have also been updated as at 22 June 2018. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (9 December 2018)

*A-REIT Sector:  Weekending Friday 07 December 2018 *

Totally unpredictable, almost like Donald Trumps hair or who he is hiring and firing for the week. The A-REIT Sector up almost 5% for the week versus the All-Ords 1%. Good luck. .




* The A-REIT Table for closing prices for Weekending Friday 07 December 2018  follows:*




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the ASX 200 XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 22 June 2018, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Capital", "Earnings", "Distribution" and "NTA" figures have also been updated as at 22 June 2018. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (16 December 2018)

*A-REIT Sector:  Weekending Friday 07 December 2018 *

The A-REIT Sector down almost 1.5% for the week versus the All-Ords down 1.37%. Not our worst week unless of course you are holding Retail A-REIT's instead of Office A-REIT's. SCG continues to flop around near the $4.00 mark while DXS has surged above $11.00. Mind you it could be worse, you could be holding banks as well. Talk about double whammy. Good luck. .




* The A-REIT Table for closing prices for Weekending Friday 07 December 2018  follows:*




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the ASX 200 XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 22 June 2018, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Capital", "Earnings", "Distribution" and "NTA" figures have also been updated as at 22 June 2018. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (23 December 2018)

*A-REIT Sector:  Weekending Friday 21 December 2018 *

The A-REIT Sector down almost 0.5% for the week versus the All-Ords down a further 2.5%. Santa Claus isn't coming this year because President Donald and the US Senate can't agree on how much money the U.S Government can have (can increase debt by) to run government. Something to do with building a wall, an election promise that got President Donald elected. So their Government went into shut down and Christmas is canceled. The markets are also running amok and there will be no xmas rally this year. #$%#$%#. Good luck. .




* The A-REIT Table for closing prices for Weekending Friday 21 December 2018  follows:*




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the ASX 200 XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 22 June 2018, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Capital", "Earnings", "Distribution" and "NTA" figures have also been updated as at 22 June 2018. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (6 January 2019)

*A-REIT Sector:  Weekending Friday 04 January 2019 *

President Donald really hit his straps last fortnight, No Christmas, No pay for Government workers, Troops out of Syria, No resolution of the trade war with China, Democrats in control of the Senate and still arguing as to whether or not he can build a wall along the Mexican border (Personally I can't see the point, Mexicans have been building elaborate tunnels for years). Oh and the AU$ is struggling to hold US$0.70. Good luck. .





* The A-REIT Table for closing prices for Weekending Friday 04 January 2019  follows:*




*The comparison table of this weeks closing prices versus 21 December 2018 closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the ASX 200 XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 22 June 2018, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Capital", "Earnings", "Distribution" and "NTA" figures have also been updated as at 22 June 2018. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*5.* IOF was delisted from the Stock Exchange in December 2018 following the takeover.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (14 January 2019)

*A-REIT Sector:  Weekending Friday 11 January 2019 *

President Donald continues to hold out against the Democrat dominated Senate insisting that they agree to release funds to build his wall or the Government shut down will continue. The Democrat controlled Senate insist that they will not release funding for his wall. So the stalemate continues and the rest of the world sits back and watches in wonder. Then inexplicably, the markets have rallied????? This rally even extend as far as Australia and the A-REIT Sector. Go figure. Good luck. .





* The A-REIT Table for closing prices for Weekending Friday 11 January 2019  follows:*




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the ASX 200 XPJ A-REIT Property Sector.


*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 22 June 2018, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Capital", "Earnings", "Distribution" and "NTA" figures have also been updated as at 22 June 2018. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*5.* IOF was delisted from the Stock Exchange in December 2018 following the takeover.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (21 January 2019)

*A-REIT Sector:  Weekending Friday 18 January 2019 *

Despite the impasse between President Donald and the Democrat controlled senate causing non payment of Government Employees, the market has realised that this has no effect on the economy. Employees still go to work, everything functions, Donald visits the troops, Donald chats to border security etc etc. So the world takes another look at Brexit and how the British Prime Minister has survived two no confidence votes from a parliament that seems to have trouble recognising that Britian is not really in any position to negotiate the terms of their divorce from the European Union. In fact the most interesting thing in the news was that 97 year old Prince Philip rolled his Range Rover.  Good luck. .




* The A-REIT Table for closing prices for Weekending Friday 18 January 2019  follows:*




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the ASX 200 XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 22 June 2018, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Capital", "Earnings", "Distribution" and "NTA" figures have also been updated as at 22 June 2018. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*5.* IOF was delisted from the Stock Exchange in December 2018 following the takeover.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (28 January 2019)

*A-REIT Sector:  Weekending Friday 25 January 2019 *

President Donald yielded to the Democrat controlled Senate enabling the funding of the Government to be approved without his Mexican wall funding. However it isn't over yet with President Donald threatening to shut down the Government again if the funding for the wall isn't approved. I mean really, the U.S.A has several trillion dollars of debt, what is another 6 billion?????. Prince Phillip apologised to the other people involved in his car crash and like good little monarchists, they accepted his apology. Brexit has moved off the front page. So all is well with the world, except maybe the Australian Journalist that has been apprehended on bogus charges of espionage in China.  Good luck. .





* The A-REIT Table for closing prices for Weekending Friday 25 January 2019  follows:*




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the ASX 200 XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 22 June 2018, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Capital", "Earnings", "Distribution" and "NTA" figures have also been updated as at 22 June 2018. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*5.* IOF was delisted from the Stock Exchange in December 2018 following the takeover.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (4 February 2019)

*A-REIT Sector:  Weekending Friday 01 February 2019 *

The Commissioner investigating the Financial Institutions has handed the results and recommendations from the Royal Commission, to the Governor General who in turn will give them to Prime Minister Scott Morrison (who voted against having a Royal Commission something like 21 times) for him to decide what to do about it. It is rumored that the fund managers are short selling the bank shares anticipating that the bank share prices will go down further than they already have. And the politicians are in election mode. I'll have to get my portable shovel and gasmask out to deal with the flow of bull.... Good luck. .




* The A-REIT Table for closing prices for Weekending Friday 01 February 2019  follows:*




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the ASX 200 XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 22 June 2018, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Capital", "Earnings", "Distribution" and "NTA" figures have also been updated as at 22 June 2018. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*5.* IOF was delisted from the Stock Exchange in December 2018 following the takeover.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## peter2 (11 February 2019)

REITs are off and running, both here and in the US. 
I've posted chart of two locals CHC and GPT.


----------



## nulla nulla (11 February 2019)

*A-REIT Sector:  Weekending Friday 08 February 2019 *

The Royal Commission into the finance sector knocked off the top two heads at the NAB, lots of promises from both political parties (in election mode) that they will implement the recommendations and as far as the banks are concerned it is business as usual. Funny thing though, the Reserve bank is considering reducing interest rates to ease the current credit squeeze but the banks are considering increasing interest rates to maintain profitability. President Donald is organising another meeting with President for life Kim. President Donald earned a round of applause from the Democrats and Prince Phillip handed in his drivers license. The real news is how good a week the A-REIT Sector had. All we need now is for the Retail shares therein to get back to realistic levels relative to their rates of return.  Good luck. .





* The A-REIT Table for closing prices for Weekending Friday 08 February 2019  follows:*




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the ASX 200 XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 22 June 2018, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Capital", "Earnings", "Distribution" and "NTA" figures have also been updated as at 22 June 2018. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*5.* IOF was delisted from the Stock Exchange in December 2018 following the takeover.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (17 February 2019)

*A-REIT Sector:  Weekending Friday 15 February 2019 *

Prime Minister Scotty lost control of the Parliament and immediately launched into scaremongering about a potential increase in refuges via boat (apparently it is okay if they come in by plane). Prime Minister Scotty will try to make it the issue the coming election will be fought on. As President Donald so often states, we live in an era of fake news.

President Donald declared an emergency to get his funding for the wall and the Democrats will likely tie him up in legal challenges for the remainder of his term (whether it is 4 years or 8 years) and effectively stop the building of the wall. No doubt that will be the issue he will seek re-election on.

The Aussie markets went nowhere for the week. There were opportunities for the brave and insane but I was content to sit this week out.  Good luck. .





* The A-REIT Table for closing prices for Weekending Friday 15 February 2019  follows:*




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the ASX 200 XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 22 June 2018, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Capital", "Earnings", "Distribution" and "NTA" figures have also been updated as at 22 June 2018. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*5.* IOF was delisted from the Stock Exchange in December 2018 following the takeover.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (4 March 2019)

*A-REIT Sector:  Weekending Friday 01 March 2019 *

President Donald and President for life Kim met up in Vietnam but someone must have stepped on an old Land mine as the meeting ended abruptly without a happy ending. Julia Bishop lobbed a grenade into the Liberal party claiming that Christopher (Robyn) Payne flipped her run for leadership in favour of now Prime Minister Scotty. She likes to think she would have beaten contender Bill in the next election while Prime Minister Scotty wont. Christopher Payne decided to take the money and run so he along with Julia and several other Liberal Members will not be contesting the next election. Something about rats and sinking ships keeps coming to mind. The All-Ords has had a good run for the last two weeks but the A-REIT Sector needed a big Friday (last week) to stay at the previous fornight's closing levels.  The volatility provides opportunity for trades (if you are game).  Good luck. .








* The A-REIT Table for closing prices for Weekending Friday 01 March 2019  follows:*




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the ASX 200 XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 22 June 2018, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Capital", "Earnings", "Distribution" and "NTA" figures have also been updated as at 22 June 2018. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*5.* IOF was delisted from the Stock Exchange in December 2018 following the takeover.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (12 March 2019)

*A-REIT Sector:  Weekending Friday 08 March 2019 *


Be still my beating heart, a break-out upwards for the A-REIT Sector. Ooley Dooley how far can it go?? I will probably wake up early this week to find out that the profit takers have dropped it all back again. Good luck. .





* The A-REIT Table for closing prices for Weekending Friday 08 March 2019  follows:*




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the ASX 200 XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 22 June 2018, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Capital", "Earnings", "Distribution" and "NTA" figures have also been updated as at 22 June 2018. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*5.* IOF was delisted from the Stock Exchange in December 2018 following the takeover.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (18 March 2019)

*A-REIT Sector:  Weekending Friday 15 March 2019 *

Nothing I can say that would make sense of anything this week.  Good luck. .




* The A-REIT Table for closing prices for Weekending Friday 15 March 2019  follows:*




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the ASX 200 XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 22 June 2018, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Capital", "Earnings", "Distribution" and "NTA" figures have also been updated as at 22 June 2018. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*5.* IOF was delisted from the Stock Exchange in December 2018 following the takeover.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## Logique (18 March 2019)

peter2 said:


> REITs are off and running, both here and in the US.
> I've posted chart of two locals CHC and GPT.
> 
> 
> ...



Been noticing this too. I wonder if it's about defensive positioning in markets.

In Australia, I wonder if some people are selling down banks and re-balancing to property trusts.  With stalling real estate prices, the rental yields would look more attractive. Additionally, if you follow the Coalition rhetoric, Fed Labor's policies will drive rents even higher.

But a sensational last quarter, and looking like a technical break out


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## Zaxon (18 March 2019)

Logique said:


> In Australia, I wonder if some people are selling down banks and re-balancing to property trusts.  With stalling real estate prices, the rental yields would look more attractive.



I think that's a reasonable hypothesis.  Although I did hear that prices for retail properties have actually been rising, unlike the residential price drop we've been experiencing.


----------



## HelloU (18 March 2019)

unfranked .....


----------



## nulla nulla (18 March 2019)

Logique said:


> Been noticing this too. I wonder if it's about defensive positioning in markets.
> 
> In Australia, I wonder if some people are selling down banks and re-balancing to property trusts.  With stalling real estate prices, the rental yields would look more attractive. Additionally, if you follow the Coalition rhetoric, Fed Labor's policies will drive rents even higher.
> 
> But a sensational last quarter, and looking like a technical break out




The suggestion is that, investors are bypassing property for now and investing in the share market. DXS is trading at newish highs as well as CHC and GPT. CHC is rumored to be running a ruler over the AMP property portfolio.


----------



## nulla nulla (25 March 2019)

*A-REIT Sector:  Weekending Friday 22 March 2019 *

Some up, some down, the A-REIT Sector up over all, near enough 1% for the week.  Good luck. .





* The A-REIT Table for closing prices for Weekending Friday 22 March 2019  follows:*




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the ASX 200 XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 22 June 2018, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Capital", "Earnings", "Distribution" and "NTA" figures have also been updated as at 22 June 2018. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*5.* IOF was delisted from the Stock Exchange in December 2018 following the takeover.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## Logique (30 March 2019)

Logique said:


> Been noticing this too. I wonder if it's about defensive positioning in markets.
> In Australia, I wonder if some people are selling down banks and re-balancing to property trusts.  With stalling real estate prices, the rental yields would look more attractive. Additionally, if you follow the Coalition rhetoric, Fed Labor's policies will drive rents even higher.
> But a sensational last quarter, and looking like a technical break out



Talk now of the next AU interest rate movement being down. So it's tally ho for REITs


----------



## nulla nulla (7 April 2019)

*A-REIT Sector:  Weekending Friday 05 April 2019 *

It looks like the market assessment of the budget isn't good and the market took a knife to property shares and the banks.  (Strewth even Alan Jones expressed disapproval of the Liberal Budget). It is all a bit strange when the press shows up commercial property values as rising and the likelihood of renal increases but the market savages A-REITs'. Even retail REIT's have proven that they can cope/diversify and the US Giant Amazon is doing not so well against their expectations. (Starting to sound like another Masters). Good luck. .






* The A-REIT Table for closing prices for Weekending Friday 05 April 2019 follows:*




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the ASX 200 XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 05 April 2019, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Capital", "Earnings", "Distribution" and "NTA" figures have also been updated as at 05 April 2019. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (15 April 2019)

*A-REIT Sector:  Weekending Friday 12 April 2019 *

The Eight year chart shows the slow but steady recovery of the A-REIT Sector. The growth in shares like Charter Hall, Dexus, Goodman, GPT,  and some others has been more than enough to offset the apparent stagnation in the Retail shares like SCG, SCP, VCX, etc. There appears to be an inconsistent gap in value when these Retails shares are trading at prices lower than their NTA values. I'm surprised that some of the big overseas pension funds haven't taken more advantage of the relatively low current prices and good yields. Go figure. Good luck .





* The A-REIT Table for closing prices for Weekending Friday 12 April 2019 follows:*




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the ASX 200 XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 05 April 2019, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Capital", "Earnings", "Distribution" and "NTA" figures have also been updated as at 05 April 2019. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (29 April 2019)

*A-REIT Sector:  Weekending Friday 26 April 2019 *


Prime Minister Scotty is getting happier as he closes the gap on contender Bill's lead. Over the weekend he dragged out former Prime Minister Johny to help on the Campaign trail and played the "boat people/refugees" card. We're not racist, we just don't like sharing our land of wealth and toil with others less fortunate than ourselves. I will be glad when the election is over and the Clive Palmer advertisements finish.

Our dollar dropped against the world when the latest inflation (deflation) figures were released but the market (All-Ords) climbed to a Twelve year high (not that our country is backward or anything). Good luck .





* The A-REIT Table for closing prices for Weekending Friday 26 April 2019 follows:*




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the ASX 200 XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 05 April 2019, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Capital", "Earnings", "Distribution" and "NTA" figures have also been updated as at 05 April 2019. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (6 May 2019)

*A-REIT Sector:  Weekending Friday 03 May 2019 *

Prime Minister Scotty is getting even happier as he closes the gap on contender Bill's lead. Smuggly confident as he tries to unsettle Bill in the second debate , playing Space Invader, however it seems Bill still won the debate by a narrow margin.  The All-Ords finished the week down three quarters of one percent while the A-REIT Sector finished the week down 4.23 percent. Ouch. Some of these share prices are begging for take-over offers and or mergers. The Reserve Bank is expected to drop interest rates this Tuesday but the market seems to see this as a negative. Good luck .





* The A-REIT Table for closing prices for Weekending Friday 03 May 2019 follows:*





*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the ASX 200 XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 05 April 2019, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Capital", "Earnings", "Distribution" and "NTA" figures have also been updated as at 05 April 2019. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (13 May 2019)

*A-REIT Sector:  Weekending Friday 10 May 2019 *


The A-REIT Sector is trying to stay up against increasing market pressure,  probably bought on by the forthcoming Federal Election. Interestingly, current Prime Minister Morrison conveniently overllooks the Labor Governments (under Rudd & Gillard ) managed to keep Australia out of Recession. Also Australia did not have a "Ninja" Collatorized Debt property melt down as experienced in the U.S.

However, wait for it, now both major parties are promising to guarantee roughly 10,000 people (that are struggling to raise a 20% deposit, to fund a home loan application), with up to 50% of the required amount. To me this sounds suspiciously like George Bush creating a bank to lend the deposit amount to people with "no income, no jobs and no assets" and then another bank to lend them the balance of the loan needed to buy houses at what ultimately became severely inflated prices. Australia is finally going to have another property boom built on ninja loans that will be flogged off as AAA colatorized debt obligations, that will go onto higher interest rates after a qualifying period, that will go into default, then the whole economy will melt down and we will finally get the recession we have to have. (expletives deleted as this is a family web site)  . Good luck  .





* The A-REIT Table for closing prices for Weekending Friday 10 May 2019 follows:*




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the ASX 200 XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 05 April 2019, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Capital", "Earnings", "Distribution" and "NTA" figures have also been updated as at 05 April 2019. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (19 May 2019)

*A-REIT Sector:  Weekending Friday 17 May 2019 *


The A-REIT Sector managed to claw back some of the weeks earlier losses. But the big wins were in the political arena. The adds finished and then the master guru of Advertising managed to pull off the biggest political win since Paul Keating rolled John Hewson. Prime Minister Scotty managed to defy all the external polls and their own political party internal polls and is set to continue as Prime Minister of Australia for at least another three years. You have to hand it to him, this fellow could sell refrigerators to the eskimos at the North Pole. At least now we don't have to worry about our franking credit refunds to our SMSF, do we?   Farewell to Mr Abbot, who will now retire from politics to take up his ex-prime minister entitlements as well as his pension, after 25 years service. No doubt he will set up his own SMSF and take advantage of the Franking Credit Tax Refunds .   Good luck  .






* The A-REIT Table for closing prices for Weekending Friday 17 May 2019 follows:*





*The comparison table of this weeks closing prices versus last weeks closing prices follows:*






*Comments:*


*1.* The shares listed in the tables above make up the ASX 200 XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 05 April 2019, can change from day to day due to active share buy-back programs and other factors.

*3.* The "Capital", "Earnings", "Distribution" and "NTA" figures have also been updated as at 05 April 2019. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (27 May 2019)

*A-REIT Sector:  Weekending Friday 24 May 2019 *


The A-REIT Sector jumped on the back of the Liberal/National Party winning the election they couldn't win and their late announcement of the Deposit Guarantee for those buyers that can't raise the necessary 20% deposit. Ha Ha ha. You have to laugh. Banks are up also on the prospects of relaxed lending rules to home buyers and the Reserve Bank spruiking an interest rate drop. No doubt the banks will not pass on the drop to existing clients and will pass on a portion of any drop to new home loan applicants, effectively boosting their profits. All good stuff.    Good luck  .





* The A-REIT Table for closing prices for Weekending Friday 24 May 2019 follows:*




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the ASX 200 XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 05 April 2019, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Capital", "Earnings", "Distribution" and "NTA" figures have also been updated as at 05 April 2019. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (10 June 2019)

*A-REIT Sector:  Weekending Friday 07 June 2019 *

The A-REIT Sector fell back during the week ending 31 May 2019. However the reserve Bank dropped the official interest rates on Tuesday and our fearless Treasurer instructed the banks to pass on the full interest rate drop to their customers...Some did and some didn't, probably just their subtle way of reminding the politicians who is really in charge.

The interest rate drop was spruiked across the media as being good for home buyers and investors alike, A-REIT shares and Bank shares rebounded accordingly. The A-REIT sector is near a ten year high but has a long way to go to emulate the crazy debt fueled levels of 2007.  I am playing catch-up this week so there is two weeks of data. Good luck  .

*Weekending Friday 31 May 2019:*





* The A-REIT Table for closing prices for Weekending Friday 31 May 2019 follows:*




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*




*Weekending Friday 07 June 2019:*





* The A-REIT Table for closing prices for Weekending Friday 07 June 2019 follows:*




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*




*Comments:*

*1.* The shares listed in the tables above make up the ASX 200 XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 05 April 2019, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Capital", "Earnings", "Distribution" and "NTA" figures have also been updated as at 05 April 2019. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## peter2 (10 June 2019)

CHC and GMG are powering higher and have left the XPJ index in their wake. Their performance in the last six months is outstanding.


----------



## nulla nulla (17 June 2019)

*A-REIT Sector:  Weekending Friday 14 June 2019 *

The A-REIT Sector shares continued to climb, well at the end of the week more so than during the week, but this may have been a market defensive move as global sabre rattling once again reared its' head. This time between Iran and the USA.

If its' not trade wars, it is wars with bombs, troops and lots of dead people. I guess Trump works on the theory that there is more than one way to stimulate the economy. Meanwhile Prime Minister Scotty and his Home Affairs Minister Peter are still working on the means to peddle misinformation and shut down any leaks. Freedom of the Press... yeah right. They should rename the ministry of "Home Affairs" as the ministry of "Propaganda".  Good luck  .

*Weekending Friday 14 June 2019:*





* The A-REIT Table for closing prices for Weekending Friday 14 June 2019 follows:*




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*




*Comments:*

*1.* The shares listed in the tables above make up the ASX 200 XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 05 April 2019, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Capital", "Earnings", "Distribution" and "NTA" figures have also been updated as at 05 April 2019. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## Logique (17 June 2019)

Thanks Nulla, the market seems to be telling us something. Both A-REITs and gold are having a strong first half 2019:


----------



## nulla nulla (25 June 2019)

*A-REIT Sector:  Weekending Friday 21 June 2019 *

The A-REIT Sector shares climbed on Tuesday and pretty much stayed there for the rest of the week. As the world prepares for the escalation of the war of words between two radicals at opposite ends of the religious spectrum into full blown armed conflict, world markets go on the defensive pushing up the price of oil and property. Must be time to stock up on canned foods and alcohol, oh maybe some drinking water as well. Good luck  .

*Weekending Friday 21 June 2019:*





* The A-REIT Table for closing prices for Weekending Friday 21 June 2019 follows:*




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*




*Comments:*

*1.* The shares listed in the tables above make up the ASX 200 XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 05 April 2019, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Capital", "Earnings", "Distribution" and "NTA" figures have also been updated as at 05 April 2019. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (8 July 2019)

*A-REIT Sector:  Weekending Friday 05 July 2019 *


The A-REIT Sector fell back during the week ending 28 June 2019. However, fortunately, the rebound in week ending 05 July 2019 in the A-REIT Sector was in the order of 5% plus. Mainly driven (imo) by the drop in interest rates and the relaxation of mortgage borrowing rules, although the pro liberal media keeps telling us it is because Prime Minister Scotty got his tax cuts through the senate (with a quick pay off to Jackie Lambi's home state of Tasmania).

Seriously, the tax cut amounts to less than a pack of cigarettes per fortnight for the low income earners and the mid tier gets $1,080.00 per annum (roughly $20.00 per week) which isn't much better. Prime Minister Scotty would have done better to stimulate the economy by emulating former Prime Minister Kevin and sending everyone a cheque for $1,000.00.

Once again,  I am playing catch-up this week so there is two weeks of data. Good luck  .

*Weekending Friday 28 June 2019:*





* The A-REIT Table for closing prices for Weekending Friday 28 June 2019 follows:*




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*




*Weekending Friday 05 July 2019:*

* The A-REIT Table for closing prices for Weekending Friday 05 July 2019 follows:*




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*




*Comments:*

*1.* The shares listed in the tables above make up the ASX 200 XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 05 April 2019, can change from day to day due to active share buy-back programs and other factors. 


*3.* The "Capital", "Earnings", "Distribution" and "NTA" figures have also been updated as at 05 April 2019. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## Garpal Gumnut (8 July 2019)

nulla nulla said:


> *A-REIT Sector:  Weekending Friday 05 July 2019 *
> 
> 
> The A-REIT Sector fell back during the week ending 28 June 2019. However, fortunately, the rebound in week ending 05 July 2019 in the A-REIT Sector was in the order of 5% plus. Mainly driven (imo) by the drop in interest rates and the relaxation of mortgage borrowing rules, although the pro liberal media keeps telling us it is because Prime Minister Scotty got his tax cuts through the senate (with a quick pay off to Jackie Lambi's home state of Tasmania).
> ...




Thanks for this post @nulla nulla.

I cannot see how these guys are making a profit in Qld at least. 

Every shopping centre I go in to has 10-40% vacancy.

It must be apartments, houses and large storage that keeps them going.

btw LLC is morphing in to an REIT by getting rid of loss making infrastructure projects. So it may appear on your scan this time next year.

gg


----------



## Logique (20 July 2019)

Some more 'grist to the mill'. Also many thanks Nulla for your work on this thread







> *Return of the REITs*
> Anthony Fensom, Morningstar, 19 Jul 2019: https://urlzs.com/bTkNE
> ..Yield-hungry investors have driven a surge in market values for Australia’s listed property sector, which has raked in record amounts of capital.
> With interest rates seen falling further, the A-REITs could be set for further gains barring an economic downturn, analysts say....


----------



## nulla nulla (27 July 2019)

*A-REIT Sector:  Weekending Friday 26 July 2019 *

This week you get three (3) weeks of data. Also, it has come to my attention that my faithful old laptop has developed dementia in the numeric keypad and the number three (3) is no longer responding and the number eight (8) is unreliable. Accordingly there may be errors in the table (although I think I have fixed them for the last three weeks).

The A-REIT Sector is not moving ahead at the same rate as the All Ords. It seems the All Ords is moving ahead as self managed superannuants move their cash into shares with reasonable rates of return (and franking credits) as against the crappy interest rates from banks (made worse by the higher deeming rates).  The lack of confidence in our economy, the low job opportunity figures, the crappy wages, the crappy new start allowances and the higher entry aged for pensions is making life pretty tough out there. No wonder the retail REITs are feeling the pinch as spending in the community dries up.  Good luck  .





* The A-REIT Table for closing prices for Weekending Friday 12 July 2019 follows:*




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





* The A-REIT Table for closing prices for Weekending Friday 19 July 2019 follows:*




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





* The A-REIT Table for closing prices for Weekending Friday 26 July 2019 follows:*




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*






*Comments:*


*1.* The shares listed in the tables above make up the ASX 200 XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 05 April 2019, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Capital", "Earnings", "Distribution" and "NTA" figures have also been updated as at 05 April 2019. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (5 August 2019)

*A-REIT Sector:  Weekending Friday 02 August 2019 *

Just when things were starting to look hopeful for resolution of the Trade War between America and China, President Donald decided to slap a further 10% tariff on imports to the US from China because the trade talks were taking too long. Then he ups the anti sending the Secretary of State to speak to Prime Minister Scotty about Australia getting too close to China, leasing the Chinese control of a new container terminal and Port in Darwin. Oh and by the way President Donald wants to know if Prime Minister Scotty is up to sending along troops and equipment for any potential engagement with Iran. Sheesh...where will it all end??? Good luck  .




* The A-REIT Table for closing prices for Weekending Friday 02 August 2019  follows:*




*The comparison table of this weeks closing prices versus last weeks closing prices follows:*





*Comments:*


*1.* The shares listed in the tables above make up the ASX 200 XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 05 April 2019, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Capital", "Earnings", "Distribution" and "NTA" figures have also been updated as at 05 April 2019. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (21 August 2019)

*A-REIT Sector:  Weekending Friday 16 August 2019 *

The Dow Jones had a 700+ point correction so we had to drop 170+ points. Personally I can't understand the basis of our market being so low. The US not only recovered to their high of 2007 but went on to double. Our market took ten years to recover and is no where near as over inflated as the Dow Jones. Additionally in 2007 our market was inflated (overpriced) with many of the companies having excessively high debt to equity ratios. Realistically many of the companies were paying high dividend rates using borrowings to fund the dividends. Not now. Dividend rates are slightly lower and are mostly paid from earnings. Even the retail A-REITs are paying 5% plus yields, all from earnings, yet they are being held down, trading at less than their net tangible asset values. At some point these shares are going to look good, particularly to long term overseas investors taking advantage of our sliding dollar.  One again there is two weeks of data included. I will have to give myself  "a couple of backhands" to smarten up my act.  Good luck  .







* The A-REIT Table for closing prices for Weekending Friday 09 August 2019  follows:*




*The comparison table of weekending 09 August 2019 closing prices versus the previous weeks closing prices follows:*





* The A-REIT Table for closing prices for Weekending Friday 16 August 2019 follows:*




*The comparison table of this weekending 16 August 2019 closing prices versus the previous weeks closing prices follows:*






*Comments:*

*1.* The shares listed in the tables above make up the ASX 200 XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 05 April 2019, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Capital", "Earnings", "Distribution" and "NTA" figures have also been updated as at 05 April 2019. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (26 August 2019)

*A-REIT Sector:  Weekending Friday 23 August 2019 *


This looks good, Fridays All-Ords close.




This looks even better, Fridays A-REIT Sector close.




Then I woke up on Saturday and this was the Dow Jones close on Friday U.S time.




No prizes for guessing where we are going today. Good luck. .


* The A-REIT Table for closing prices for Weekending Friday 23 August 2019  follows:*





*The comparison table of weekending 23 August 2019 closing prices versus the previous weeks closing prices follows:*






*Comments:*

*1.* The shares listed in the tables above make up the ASX 200 XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 05 April 2019, can change from day to day due to active share buy-back programs and other factors.  

*3.* The "Capital", "Earnings", "Distribution" and "NTA" figures have also been updated as at 05 April 2019. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (15 September 2019)

*A-REIT Sector:  Weekending Friday 30 August 2019 *

The A-REIT Sector continues to move like a crazy rollercoaster, swinging up and down in accordance with the latest tweets form President Donald. Don't worry about the state of the economy, the earnings of the shares, the share price versus the nta or any real financial activity, it is all about rumour and who is trying to move the market around for their personal gain, The day the ASX brings back disclosure as to who is buying/selling/holding/shorting whatever is the day a lot of volatility will be taken out of the market.  Good luck. .







*The comparison table of weekending 30 August 2019 closing prices versus the previous weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the ASX 200 XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 05 April 2019, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Capital", "Earnings", "Distribution" and "NTA" figures have also been updated as at 05 April 2019. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (15 September 2019)

*A-REIT Sector:  Weekending Friday 06 September 2019 *


The A-REIT Sector dropped on the news that Jackie from Tasmania is going to support the move by Prime Minister Scotty to drug test recipients of Job Search Allowances.  The market movers realise that it will only be a matter of time before there is mandatory drug testing of institutional traders. The coke industry will go broke and the share market will fizzle to a stop. Good luck. .




*The A-REIT Table for closing prices for Weekending Friday 06 September 2019 follows:*




*The comparison table of weekending 06 September 2019 closing prices versus the previous weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the ASX 200 XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 05 April 2019, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Capital", "Earnings", "Distribution" and "NTA" figures have also been updated as at 05 April 2019. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (15 September 2019)

*A-REIT Sector:  Weekending Friday 13 September 2019 *

The A-REIT Sector dropped further on the news that Amazon is going to sell BBQ and outdoor furniture in competiton with.......wait for it....Bunnings.    ha ha ha....sorry couldnt help myself. Maybe Amazon hasn't heard of the Masters debacle competing with Bunnings.  I havent heard how amazingly well Amazon is doing in Australia. In fact most of what I have heard relates to the limited product available, particularly local product.

Jackie from Tasmania is dithering in her support of the move by Prime Minister Scotty to drug test recipients of Job Search Allowances.  This is fantastic for Prime Minister Scotty because it draws attention away from all the other issues that the Government is floundering on.  No doubt he can always phone President Xi Jinping for some advice. If he doesn't have his phone number, he can probably get it from the member for Chisholm Gladys Liu, assuming of course she can remember where she put it. Good luck. .




*The A-REIT Table for closing prices for Weekending Friday 13 September 2019 follows:*




*The comparison table of weekending 13 September 2019 closing prices versus the previous weeks closing prices follows:*




*Comments:*

*1.* The shares listed in the tables above make up the ASX 200 XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 05 April 2019, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Capital", "Earnings", "Distribution" and "NTA" figures have also been updated as at 05 April 2019. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.


*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (23 September 2019)

*A-REIT Sector:  Weekending Friday 20 September 2019 *

The A-REIT Sector struggled this last week in comparison with the All-Ords and the rest of the world. However it did manage to post a gain for the week of 0.29%. President Donald invited Prime Minister Scotty to dinner (no footsies under the table) probably to talk about what Donald wants to do to Iran for supplying those naughty Yemens with drones to attack the Saudi oil refineries. No doubt
Prime Minister Scotty will smirk and nod and we will get roped into some support logistics yet again in the Middle East.
Not all went well for Prime minister Scotty at Dinner. Appears someone spread a rumor that Prime Minister Scotty couldn't invite his spiritual advisor (his Hillsong Pastor) to the dinner because of his families history.  The "sins of the father" sort of thing.  Good luck. .




*The A-REIT Table for closing prices for Weekending Friday 20 September 2019 follows:*




*The comparison table of weekending 20 September 2019 closing prices versus the previous weeks closing prices follows:*




*Comments:*

*1.* The shares listed in the tables above make up the ASX 200 XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 05 April 2019, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Capital", "Earnings", "Distribution" and "NTA" figures have also been updated as at 05 April 2019. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (23 October 2019)

*A-REIT Sector:  Weekending Friday 18 October 2019 *

The A-REIT Sector continues to struggle but then so does the All-Ords. Our "How good is that" pumped politicians are so busy spinning bulshirt and trying to pull the wool over our eyes locally that they haven"t noticed that the rest of the world thinks that our economy is worse than that of Greece. Seriously, if we were a member of the European Union they would be working out how to kick us out.  "How good is that".  Good luck. .




*The A-REIT Table for closing prices for Weekending Friday 27 September 2019 follows:*




*The comparison table of weekending 27 September 2019 closing prices versus the previous weeks closing prices follows:*




*The A-REIT Table for closing prices for Weekending Friday 04 October 2019 follows:*




*The comparison table of weekending 04 October 2019 closing prices versus the previous weeks closing prices follows:*





*The A-REIT Table for closing prices for Weekending Friday 11 October 2019 follows:*




*The comparison table of weekending 11 October 2019 closing prices versus the previous weeks closing prices follows:*





*The A-REIT Table for closing prices for Weekending Friday 18 October 2019 follows:*




*The comparison table of weekending 18 October 2019 closing prices versus the previous weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the ASX 200 XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 05 April 2019, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Capital", "Earnings", "Distribution" and "NTA" figures have also been updated as at 05 April 2019. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (28 October 2019)

*A-REIT Sector:  Weekending Friday 25 October 2019 *


I neglected to say last week that our markets are surprisingly high when you consider how slow our economic growth is. Imagine how much higher the markets would be (and our dollar) if our government wasn't locked in an attitude of doing nothing to stimulate the economy for fear that their vision of a budget surplus will not eventuate in 2-3 years.  A lot of smoke and mirror work going on in the political arena at the moment. Lots of noise about electricity prices, sounding like threats of nationalising the assets that were only recently privatised. An opportunity to waste the tax payers dollars while lining their mates pockets? A smoke screen about taking the banks to task for not passing on interest rate cuts in full. And the NSW Police announce that their investigation into Prime Minister Scotty's Hillsong mate is "ongoing". Probably just a rumor, eh. Good luck. .




*The A-REIT Table for closing prices for Weekending Friday 25 October 2019 follows:*




*The comparison table of weekending 25 October 2019 closing prices versus the previous weeks closing prices follows:*





*Comments:*

*1.* The shares listed in the tables above make up the ASX 200 XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 05 April 2019, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Capital", "Earnings", "Distribution" and "NTA" figures have also been updated as at 05 April 2019. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (9 December 2019)

*A-REIT Sector:  Weekending Friday 06 December 2019 *

It has been a tumultuous month for me, I hope yours has been better. Prime Minister Scotty continues to duck and weave and throw up petty distractions to avoid dealing with the true state of the Australian economy.  Westpac got sprung big time. President Donald had a tiff with the Canadian Prime Minister, Jacqui Lambi did the dirty on the refugees and had a little cry when the rest of the senate wanted to know the details of the deal done with Prime Minister Scotty to secure her vote. The best thing this government has done since it was elected is close Parliament until February 2020.  This means that they can't stuff up anything further until February 2020. Fingers crossed for some wet weather to help the firefighters trying to get the East Coast Bushfires under control. Good luck. .

The latest Chart weekending 6 December 2019:





*The A-REIT Table for closing prices for Weeks ending Friday 01 November 2019, Friday 08 November 2019 and 06 December 2019 follows:*

Friday 01 November 2019;




Friday 08 November 2019;




06 December 2019;




*The comparison table of Weeks ending Friday 01 November 2019, Friday 08 November 2019 and 06 December 2019  closing prices versus the closing prices for the preceding week follows:*











*Comments:*

*1.* The shares listed in the tables above make up the ASX 200 XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 05 April 2019, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Capital", "Earnings", "Distribution" and "NTA" figures have also been updated as at 05 April 2019. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (25 January 2020)

Weekending 13 December 2019. Playing catchup.





*The A-REIT Table for closing prices for Week ending Friday 13 December 2019 follows:*






*The comparison table of Week ending Friday 13 December 2019  closing prices versus the closing prices for the preceding week follows:*





*Comments:*

*1.* The shares listed in the tables above make up the ASX 200 XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 05 April 2019, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Capital", "Earnings", "Distribution" and "NTA" figures have also been updated as at 05 April 2019. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (25 January 2020)

*A-REIT Sector:  Weekending Friday 20 December 2019 *

The Chart for weekending 20 December 2019: Hmmmmm....Looks like I didn't save one. How good is
that, must have got distract by Santa.

*The A-REIT Table for closing prices for Week ending Friday 20 December 2019 follows:*




*The comparison table of Week ending Friday 20 December 2019  closing prices versus the closing prices for the preceding week follows:*





*Comments:*

*1.* The shares listed in the tables above make up the ASX 200 XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 05 April 2019, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Capital", "Earnings", "Distribution" and "NTA" figures have also been updated as at 05 April 2019. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (25 January 2020)

*A-REIT Sector:  Weekending Friday 27 December 2019 *


The Chart for weekending 27 December 2019:




*The A-REIT Table for closing prices for Week ending Friday 27 December 2019 follows:*




*The comparison table of Week ending Friday 27 December 2019  closing prices versus the closing prices for the preceding week follows:*





*Comments:*

*1.* The shares listed in the tables above make up the ASX 200 XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 05 April 2019, can change from day to day due to active share buy-back programs and other factors.

*3.* The "Capital", "Earnings", "Distribution" and "NTA" figures have also been updated as at 05 April 2019. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (25 January 2020)

*A-REIT Sector:  Weekending Friday 03 January 2020 *


The Chart for weekending 03 January 2020:




*The A-REIT Table for closing prices for Week ending Friday 03 January 2020. follows:*




*The comparison table of Week ending Friday 03 January 2020  closing prices versus the closing prices for the preceding week follows:*





*Comments:*

*1.* The shares listed in the tables above make up the ASX 200 XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 05 April 2019, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Capital", "Earnings", "Distribution" and "NTA" figures have also been updated as at 05 April 2019. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.


*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (25 January 2020)

*A-REIT Sector:  Weekending Friday 10 January 2020 *


The Chart for weekending 10 January 2020:





*The A-REIT Table for closing prices for Week ending Friday 10 January 2020. follows:*




*The comparison table of Week ending Friday 10 January 2020  closing prices versus the closing prices for the preceding week follows:*





*Comments:*

*1.* The shares listed in the tables above make up the ASX 200 XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 05 April 2019, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Capital", "Earnings", "Distribution" and "NTA" figures have also been updated as at 05 April 2019. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (25 January 2020)

*A-REIT Sector:  Weekending Friday 17 January 2020 *


The Chart for weekending 17 January 2020:






*The A-REIT Table for closing prices for Week ending Friday 17 January 2020. follows:*




*The comparison table of Week ending Friday 17 January 2020  closing prices versus the closing prices for the preceding week follows:*





*Comments:*

*1.* The shares listed in the tables above make up the ASX 200 XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 05 April 2019, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Capital", "Earnings", "Distribution" and "NTA" figures have also been updated as at 05 April 2019. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## nulla nulla (25 January 2020)

*A-REIT Sector:  Weekending Friday 24 January 2020 *

For the first time in Donkeys years we had a Christmas/New Year Rally and finally broke above the November 2007 Share market levels. Hold the champagne though as the Bush Fire Disaster continues. And now the spot light is on all the charities that used the bush fires as a means to gather in the donations with no intention of passing on all of the funds accumulated to the people in need, for whom it was intended. Shame on them.

The Chart for weekending 24 January 2020:




*The A-REIT Table for closing prices for Week ending Friday 24 January 2020. follows:*




*The comparison table of Week ending Friday 24 January 2020  closing prices versus the closing prices for the preceding week follows:*





*Comments:*

*1.* The shares listed in the tables above make up the ASX 200 XPJ A-REIT Property Sector.

*2.* The "Capital" figures in the above tables are "market capital" based on the "issued shares" as distinct from "free float capital". The "issued shares", updated as at 05 April 2019, can change from day to day due to active share buy-back programs and other factors. 

*3.* The "Capital", "Earnings", "Distribution" and "NTA" figures have also been updated as at 05 April 2019. "NTA" figures are subject to change every time there is a property re-valuation and the table may be out by a few cents from time to time, which effects the "Premium to NTA"  also.

*4.* Inclusion of any share details in the above tables is not an endorsement of that share as a viable investment or possible trade.

*Disclaimer:* These tables may contain errors and should not be relied upon for investment decisions.  As always, do your own research and good luck  .


----------



## InsvestoBoy (20 March 2020)

Where did @nulla nulla go?

Did anyone notice the REITs in this mess? Looks like just under 50% down off the highs.

So much for diversification.

VAP:


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## Dona Ferentes (20 March 2020)

InsvestoBoy said:


> Where did @nulla nulla go?
> 
> Did anyone notice the REITs in this mess? Looks like just under 50% down off the highs.
> 
> So much for diversification.



LVR... Leverage always comes back to bite.


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## OmegaTrader (24 March 2020)

nulla nulla said:


> *A-REIT Sector:  Weekending Friday 24 January 2020 *
> 
> For the first time in Donkeys years we had a Christmas/New Year Rally and finally broke above the November 2007 Share market levels. Hold the champagne though as the Bush Fire Disaster continues. And now the spot light is on all the charities that used the bush fires as a means to gather in the donations with no intention of passing on all of the funds accumulated to the people in need, for whom it was intended. Shame on them.
> 
> ...




Hello do you have any opinions on the current state of affairs?
Thanks


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## nulla nulla (29 March 2020)

The tables previously posted are based on data that is almost 12 months old and as such are out of date and inaccurate. I am looking for an easy source to update the data. Additionally I suspect that there will be updates to earnings and distributions in the near future (particularly in the retail shares) which will severely impact the Earnings, Distribution, NTA and Discount to NTA figures. When I have updates I will adjust the tables and post them. The Incredible Charts for REITs pretty much says it all. I suspect that we haven't seen the bottom yet in REIT's. If you need me I am probably somewhere in one of the Centrelink queues.


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## peter2 (2 April 2020)

This is the most important REIT thread so I'll post my observation here.
@nulla nulla Trust you are well.

Noticed two REITs on the list of today's gainers. This is very unusual especially when the REIT ETF- VAP is down. Checking the intraday charts shows that both CQE and ARF were bought at the same time (1315pm). Strange co-incidence.






Edit: No news posted yet.


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## hallph (2 April 2020)

https://www.abc.net.au/news/2020-04...are-free-scott-morrison-announcement/12114110

I think on the back of the childcare news - missed the trades unfortunately.


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## peter2 (2 April 2020)

Thanks @hallph . I'd just researched that both companies are focused on early learning centres (childcare).  GEM another ELC company was also in that list of gainers. Deduced that the sudden demand was as a result of a gov't announcement at approx 1300hrs. 

The news reading algo bots sure are quick to fire in the buy orders.


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## Logique (12 April 2020)

Couple of charts.
AU:XPJ and AUD:USD (0.635), both improving. Just saying


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## Dona Ferentes (5 September 2021)

and a graph of the times


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## divs4ever (5 September 2021)

WOW that's graphic ( pun intended )

 interesting to see offices holding up better than industrial  , 

 i am guessing government office space is helping  ,  but are were also losing smaller manufacturing/light industry  because straight warehousing/storage should be staying steady or mildly increasing 

 cheers


----------

