WDC - Westfield Group
- Thread starter RichKid
- Start date
-
- Tags
- wdc westfield group
- Joined
- 20 February 2007
- Posts
- 125
- Reactions
- 0
WDC has traditionally traded on fairly high PEs; and considering market average is around 15 ish, WDC's PE for 2007 would be 23 and not 6. And it is 23 on etrade as well.
Yes, and today WDC is trading at $19.39. Also their offer excluded rights to the next dividend, so all in all a good one to avoid.
Similar to Stockland's (SGP) offer a few months ago for extra shares at $8.75. Today SGP is at $8.10.
The moral is: Big retailers seldom give things away. Regards YN
Sean K
Moderator
- Joined
- 21 April 2006
- Posts
- 22,012
- Reactions
- 10,985
I owned this a few years ago and bailed during one on the normal corrections under panic, only to watch it fly away in short time (Jul 06 to Feb 07).
Been watching with interest since.
Was what I thought to be a very good long term mum and dad stock. Good management, good growth, low pe, good dividends. Was in the right sector.
How some of the mighty have fallen.
I wonder how much these guys are fundamentally effected by the finance and real estate market, and will be when people stop racing off to the mall to buy a new plasma. (sorry havent even read their last results). Obviously funding is harder to get, but I don't think they're geared that high. And they are commercial not residential. Can they keep raising rents at the markets when the shops are failing to grow revenue because of the plasma issue? Maybe they can. Is the population still growing enough that there will be a requirement for more and more shopping centres? Maybe Wesfields China will be a big hit?
Been punished whatever the case.
On my list of long term blue chips, if ever we find an escape from the finance crisis.
Maybe for 2012....
Been watching with interest since.
Was what I thought to be a very good long term mum and dad stock. Good management, good growth, low pe, good dividends. Was in the right sector.
How some of the mighty have fallen.
I wonder how much these guys are fundamentally effected by the finance and real estate market, and will be when people stop racing off to the mall to buy a new plasma. (sorry havent even read their last results). Obviously funding is harder to get, but I don't think they're geared that high. And they are commercial not residential. Can they keep raising rents at the markets when the shops are failing to grow revenue because of the plasma issue? Maybe they can. Is the population still growing enough that there will be a requirement for more and more shopping centres? Maybe Wesfields China will be a big hit?
Been punished whatever the case.
On my list of long term blue chips, if ever we find an escape from the finance crisis.
Maybe for 2012....
Attachments
Sean K
Moderator
- Joined
- 21 April 2006
- Posts
- 22,012
- Reactions
- 10,985
Crikey!! Under $15. Disaster for long term buy and hopers. Mums and dads are looking poorer and poorer by the day. It's pe must be looking good for a yield, but golly jeepers!
Maybe a takeover will come from Fanny Mae or Northern Rock, or something else on the move?Westfield dropped 9.14% today - anyone have any reason why?
I'm putting a buy in at $15.10 and hope to sell at around $17.40 for a 10% return after brokerage. If I need to hold long term I will - I already own a small ~$2k parcel of Westfield and have no doubts with Frank Lowy's leadership. Decent dividend doesn't hurt either!
I'm putting a buy in at $15.10 and hope to sell at around $17.40 for a 10% return after brokerage. If I need to hold long term I will - I already own a small ~$2k parcel of Westfield and have no doubts with Frank Lowy's leadership. Decent dividend doesn't hurt either!
Just on westfield if someone could please confirm,
the Year end 2008 tax statement is the summary of the June 2007 distribution (paid Aug07) and the December 2007 distribution (paid Feb08).
My understanding is that this method of treating trust income is different to the 'usual' way.
For my other trust income such as centro and transurban, you recognise the income in the year it is declared, not paid and in the accounts you have a DR Receivable for that tust income which you have put on your tax return but wont receive till after the year closes off.
Can someone confirm this is the case please for westfield? I think i am right tho.
the Year end 2008 tax statement is the summary of the June 2007 distribution (paid Aug07) and the December 2007 distribution (paid Feb08).
My understanding is that this method of treating trust income is different to the 'usual' way.
For my other trust income such as centro and transurban, you recognise the income in the year it is declared, not paid and in the accounts you have a DR Receivable for that tust income which you have put on your tax return but wont receive till after the year closes off.
Can someone confirm this is the case please for westfield? I think i am right tho.
- Joined
- 28 October 2008
- Posts
- 8,609
- Reactions
- 39
Westfield is different to the others as per it's statement.
One difference between Westfield and some other trusts/stapled security groups is that it has a December year end although I'm not sure if this is a factor in the above.
One difference between Westfield and some other trusts/stapled security groups is that it has a December year end although I'm not sure if this is a factor in the above.
thanks Dr. it prob does have something to do with a different year end.
i am taking over the running of my folks' SMSF accounts and wanted to clear it up. i thought it may have been an omission from the prior accountant who may have been confused as the DRP got suspended for a while back then
thanks
i am taking over the running of my folks' SMSF accounts and wanted to clear it up. i thought it may have been an omission from the prior accountant who may have been confused as the DRP got suspended for a while back then
thanks
- Joined
- 28 March 2007
- Posts
- 28
- Reactions
- 0
A cool post exploring the new London centre:
http://fashionbarn.wordpress.com/2008/11/25/retail-thought-westfield/
http://fashionbarn.wordpress.com/2008/11/25/retail-thought-westfield/
- Joined
- 28 October 2008
- Posts
- 8,609
- Reactions
- 39
Over the past week Deutsche Bank has exercised about 16 million options pumping about $220 million into Westfield.
- Joined
- 13 June 2008
- Posts
- 5
- Reactions
- 0
The cloud hanging over Centro had dipressed all property trusts as it has the potential to wipe off a large chunk of property value. If Centro gets their extention tomorrow, Westfield will also fly up.What you think?
- Joined
- 28 October 2008
- Posts
- 8,609
- Reactions
- 39
As a holder of Westfield I'm happy to see Centro get a debt extension and possible recapitalisation in the new year.
Whether or not it results in Centro being able to dispose of it's properties at better than bank fire sale prices remains to be seen. At least it still has a chance but much will depend on the depth and length of the economic downturn.
Whether or not it results in Centro being able to dispose of it's properties at better than bank fire sale prices remains to be seen. At least it still has a chance but much will depend on the depth and length of the economic downturn.
- Joined
- 13 June 2007
- Posts
- 1,203
- Reactions
- 2
Re: WDC-halted bradford $700m project
westfield has stopped construction on the $700m bradford development...the reason for the sneaky slide...got a please explain as well.
looks like this will get a pounding tomorrow along with wes...tb
westfield has stopped construction on the $700m bradford development...the reason for the sneaky slide...got a please explain as well.
looks like this will get a pounding tomorrow along with wes...tb
- Joined
- 28 October 2008
- Posts
- 8,609
- Reactions
- 39
Re: WDC-halted bradford $700m project
The 50% underwriting of the DRP has been abandoned in favour of a direct shake of the tin.
I wouldn't be suprised if they raise more than the $2.9b underwritten amount. No hint of participation for non institutional shareholders as part of today's announcement (such as a SSP) but that may come once the institutional raising is settled.
The 50% underwriting of the DRP has been abandoned in favour of a direct shake of the tin.
I wouldn't be suprised if they raise more than the $2.9b underwritten amount. No hint of participation for non institutional shareholders as part of today's announcement (such as a SSP) but that may come once the institutional raising is settled.
- Joined
- 13 June 2007
- Posts
- 1,203
- Reactions
- 2
Re: WDC-tb tipped $12.10-$10.50
pretty happy with myself as i tipped a 13% rip down in only 3 trading days(1st to 4th feb) over at T$...$12.10-$10.50,bang on target the placement price
pretty happy with myself as i tipped a 13% rip down in only 3 trading days(1st to 4th feb) over at T$...$12.10-$10.50,bang on target the placement price
- Joined
- 2 January 2007
- Posts
- 9
- Reactions
- 0
Re: WDC-halted bradford $700m project
Westfield has stopped construction on the $700m bradford development...the reason for the sneaky slide...got a please explain as well. Looks like this will get a pounding tomorrow along with wes...tb[/QUOTE]
This stock has been a cornerstone of my portfolio but now I'm getting cold feet.
Profit warnings, capital raisings....
Has this construction at Bradford really stopped? I can't find out.
I'm also concerned about the decline in discretionary shopping which these big malls rely on for their profits. Personally, I used to shop a lot more than I do at the moment. Now I think twice about it.
Does anyone else feel the same?
Westfield has stopped construction on the $700m bradford development...the reason for the sneaky slide...got a please explain as well. Looks like this will get a pounding tomorrow along with wes...tb[/QUOTE]
This stock has been a cornerstone of my portfolio but now I'm getting cold feet.
Profit warnings, capital raisings....
Has this construction at Bradford really stopped? I can't find out.
I'm also concerned about the decline in discretionary shopping which these big malls rely on for their profits. Personally, I used to shop a lot more than I do at the moment. Now I think twice about it.
Does anyone else feel the same?
So_Cynical
The Contrarian Averager
- Joined
- 31 August 2007
- Posts
- 7,464
- Reactions
- 1,463
Re: WDC-halted bradford $700m project
Good parking is easy to get now at any Westfield...no more having to park
in the sun on the top deck...the car parks are half empty.
Clearly the Dividend cant hold with the SP at under $9 today...on the up
side there's not many empty shops at there centers...yet.
The whole property sector is really getting hammered now, cant help but
think there's a great opportunity in the making. :luigi:
Good parking is easy to get now at any Westfield...no more having to park
in the sun on the top deck...the car parks are half empty.
Clearly the Dividend cant hold with the SP at under $9 today...on the up
side there's not many empty shops at there centers...yet.
The whole property sector is really getting hammered now, cant help but
think there's a great opportunity in the making. :luigi:
Sean K
Moderator
- Joined
- 21 April 2006
- Posts
- 22,012
- Reactions
- 10,985
Re: WDC-halted bradford $700m project
Yeah, will be at some stage you'd think. Like many possibly overdone sections. Just a matter of what is overdone, or rightly destroyed.