Australian Real Estate Weekly: Marketing feedback heading into results

研报英文原文证据摘录

Australian Real Estate Weekly: Marketing feedback heading into results

Global Research

13 July 2026ab

Australian Real Estate Weekly Equities

AustraliaMarketing feedback heading into results

Real Estate

Cody Shield, CFA

Retail trade seen as safe through August, resi interest high Analyst

Feedback from clients in Asia is that retail is seen as largely safe from an earnings cody.shield@ubs.com

perspective through Aug-26, although limited catalysts and relative value will likely drive +61-2-9324 2903

a rotation into beaten-up resi names post-results. Key takeaways: GMG: a key long-term Solomon Zhang, CFA

hold. Anticipated to guide to 9-10% OEPS growth for FY27 although limited visibility on Analyst

DC leasing makes it difficult to trade through results; CHC: some moderation of flows is solomon.zhang@ubs.com

expected although 'low double digit' earnings growth is still seen as achievable. Opex +61-2-9324 2007

tailwinds are not broadly understood; SCG/VCX: strong retail fundamentals are known Miriam Pritchard

and seen as priced in for VCX. Positioning favoured SCG, although feedback is that Analyst

consensus earnings expectations look easily achievable for both names; DXS/GPT: miriam.pritchard@ubs.com

office is increasingly appealing although focus on DXS was limited ex-M&A given known +61-2-9324 2270

issues (FY27 earnings headwinds, APAC). GPT was viewed somewhat favourably as an Aman Madhyastha

alternative, albeit it was surprisingly under-owned, with a lack of catalysts and Associate Analyst

uninspiring FY27 growth key call outs; SGP/MGR: SGP was our most discussed name. aman.madhyastha@ubs.com

While we received little pushback on our view that it's too early to be long resi, some +61-2-9324 2000

clients are positioning early with FY27 expectations seen as reasonably low.