REGION GROUP (RGN)
Share Price Analysis and Chart

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RGN - REGION GROUP

FNArena Sector : REITs
Year End: June
GICS Industry Group : Real Estate
Debt/EBITDA: 7.78
Index: ASX200 | ASX300 | ALL-ORDS

Region Group changed its name in late November 2022 from SCA Property Group, which was previously spun-off from Woolworths.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$2.13

20 Nov
2024

-0.040

OPEN

$2.16

-1.84%

HIGH

$2.17

3,133,985

LOW

$2.13

TARGET
$2.502 17.5% upside
Franking for last dividend paid out: 0%
OTHER COMPANIES IN THE SAME SECTOR
ABG . AOF . ARF . ASK . BWP . CDP . CDP . CHC . CIP . CLW . COF . CQE . CQR . DXC . DXI . DXS . ECF . GDF . GDI . HCW . HDN . NSR . PLG . REP . RFF . SCG . TGP . URW . VCX . WOT . WPR .
FNARENA'S MARKET CONSENSUS FORECASTS
RGN: 1
Title FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx 1.5 15.0 xxx
DPS (cps) xxx 13.7 13.7 xxx
EPS Growth xxx N/A 100.0% xxx
DPS Growth xxx - 9.9% 0.0% xxx
PE Ratio xxx N/A 14.2 xxx
Dividend Yield xxx N/A 6.4% xxx
Div Pay Ratio(%) xxx 919.5% 91.3% xxx

Dividend yield today if purchased 3 years ago: 4.82%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 6.43

Estimated Dividend Growth
(Average Of Past Three Years)

  %

Amount Invested

 $ 

Tell Me The Dividend After This Many Years
Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages

Last ex-div: 28/12 - ex-div 6.7c (franking 0%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2024 FactSet UK Limited. All rights reserved
Title 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx1.5
DPS All xxxxxxxxxxxxxxx13.7
Sales/Revenue xxxxxxxxxxxxxxx376.0 M
Book Value Per Share xxxxxxxxxxxxxxx242.2
Net Operating Cash Flow xxxxxxxxxxxxxxx182.8 M
Net Profit Margin xxxxxxxxxxxxxxx4.60 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx0.60 %
Return on Invested Capital xxxxxxxxxxxxxxx0.40 %
Return on Assets xxxxxxxxxxxxxxx0.38 %
Return on Equity xxxxxxxxxxxxxxx0.60 %
Return on Total Capital xxxxxxxxxxxxxxx4.58 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-140.1 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 201920202021202220232024
Short-Term Debt xxxxxxxxxxxxxxx0 M
Long Term Debt xxxxxxxxxxxxxxx1,578 M
Total Debt xxxxxxxxxxxxxxx1,578 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx19 M
Price To Book Value xxxxxxxxxxxxxxx0.87

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx156.6 M
Capex % of Sales xxxxxxxxxxxxxxx41.65 %
Cost of Goods Sold xxxxxxxxxxxxxxx133 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx41 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx4,382 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

0.5

No. Of Recommendations

5
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Ord Minnett

xx/xx/xxxx

2

xxxxxxxxxx

$xx.xx

xx.xx%

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Morgan Stanley

xx/xx/xxxx

5

xxxxxxxxxxx

$xx.xx

xx.xx%

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Macquarie

14/08/2024

1

Outperform

$2.38

11.74%

Region Group's funds from operations came in marginally below guidance. Maiden FY25 FFO guidance is -5-6% below Macquarie, reflecting higher property expenses, lost income from asset repositioning projects and interest expenses.

FY25 guidance implies FFO growth of 1% which is materially below the group's longer term indicative growth range of 3-4%. Macquarie now forecasts a three-year FFO growth rate of 2.4% (prior: 4.9%). Despite the change, this remains well ahead of rent-collecting peers at 1.5%.

Positively, Region Group has opportunities to drive earnings upside and value creation in the longer-term, the broker notes. Outperform retained, target falls to $2.38 from $2.42.

FORECAST
Macquarie forecasts a full year FY25 dividend of 13.70 cents.
Macquarie forecasts a full year FY26 dividend of 14.00 cents.

Citi

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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UBS

xx/xx/xxxx

1

xxx

$xx.xx

(xx/xx/xxxx)

xx.xx%

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Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

2

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Jarden

xx/xx/xxxx

2

xxxxxxxxxx

$xx.xx

xx.xx%

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Moelis

19/08/2024

1

Buy

$2.54

19.25%

While cost inflation was still outpacing rent in FY24 for Region Group, Moelis considers the REIT is well placed for EPS growth from FY26.

For FY24, Region reported funds from operations (FFO) and adjusted FFO of 15.4cpu and 13.6cpu, respectively, which missed guidance for 15.6cpu and 13.7cpu.

FY25 FFO and adjusted FFO of 15.5cpu and 13.7cpu, respectively, are around -4% below the analyst's prior estimates.

The Buy rating and $2.54 target are unchanged after Moelis allows for higher corporate costs, increased refurbishment downtime, partially offset by increased funds management income.

FORECAST
Moelis forecasts a full year FY25 dividend of 13.60 cents and EPS of 15.50 cents.
Moelis forecasts a full year FY26 dividend of 14.10 cents and EPS of 16.10 cents.
Access Extra Coverage Research History >

RGN STOCK CHART

FNArena News on RGN

1
Weekly Ratings, Targets, Forecast Changes – 20-09-24

Sep 23 2024 - Weekly Reports
2
Australian Broker Call *Extra* Edition – Aug 20, 2024

Aug 20 2024 - Daily Market Reports
3
Australian Broker Call *Extra* Edition – Aug 19, 2024

Aug 19 2024 - Daily Market Reports
4
FNArena Corporate Results Monitor – 13-08-2024

Aug 13 2024 - Australia
5
Next Week At A Glance – 12-16 Aug 2024

Aug 09 2024 - Weekly Reports

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