Earnings season has gone up a gear on Wednesday with a large number of results being released to the market.
Four results from the ASX 200 REIT sector that have dropped today are summarised below. Here's how they performed during the half:
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Charter Hall Group (ASX: CHC)
The Charter Hall share price is down 0.5% to $12.01. This morning, the property company reported operating earnings of $195.1 million and operating earnings per share of 41.2 cents. This was broadly in line with expectations, which has allowed management to reaffirm its guidance for FY 2024 operating earnings per share of 75 cents per share. Charter Hall is paying an interim distribution of 22.1 cents per share.
National Storage REIT (ASX: NSR)
The National Storage share price is down 0.5% to $2.31. This self-storage provider released its half-year results and reported a 6% increase in underlying earnings per share to 5.6 cents. This has allowed the company to reaffirm its FY 2024 underlying earnings per share guidance of at least 11.3 cents. Management has also reaffirmed its plan to distribute 90% to 100% of underlying earnings this year.
Scentre Group (ASX: SCG)
The Scentre share price is up 2% to $3.04. This morning, this shopping centre operator released its full-year results and reported a 2% increase in revenue to $2,510.3 million and a 16.7% lift in profit after tax to $1,069 million. In 2023, the company welcomed 512 million customer visits to its Westfield destinations and its business partners achieved sales of $28.4 billion. Scentre is paying a final dividend of 8.35 cents per share.
Stockland Corporation Ltd (ASX: SGP)
The Stockland share price is up 0.5% to $4.63. This follows the release of the ASX 200 REIT's half-year results. Stockland reported statutory profit of $102 million, compared with $301 million a year earlier. In addition, the company's funds from operations (FFO) came in at $266 million versus $353 million in the prior corresponding period. This reflects the material skew in Masterplanned Communities (MPC) settlement volumes to the second half. Stockland is paying a first-half distribution per share of 8 cents.
