REGION GROUP (RGN)
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RGN

RGN - REGION GROUP

FNArena Sector : REITs
Year End: June
GICS Industry Group : Real Estate
Debt/EBITDA: 7.57
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

$2.44

31 Oct
2025

0.010

OPEN

$2.43

0.41%

HIGH

$2.46

2,890,033

LOW

$2.43

TARGET
$2.428

+0.02 change from previous day

 -0.5% downside
OTHER COMPANIES IN THE SAME SECTOR
ABG . AOF . ARF . ASK . BWP . CDP . CDP . CHC . CIP . CLW . COF . CQE . CQR . DGT . DXC . DXI . DXS . ECF . GDF . GDI . HCW . HDN . NSR . PLG . REP . RFF . SCG . TGP . VCX . WOT . WPR .
FNARENA'S MARKET CONSENSUS FORECASTS
RGN: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 18.3 15.6 xxx
DPS (cps) xxx 13.7 14.2 xxx
EPS Growth xxx 100.0% - 14.8% xxx
DPS Growth xxx 0.0% 3.8% xxx
PE Ratio xxx N/A 15.4 xxx
Dividend Yield xxx N/A 6.0% xxx
Div Pay Ratio(%) xxx 74.9% 91.4% xxx

Dividend yield today if purchased 3 years ago: 5.23%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 5.73

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: 30/12 - (franking ex-di

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx18.3
DPS All xxxxxxxxxxxxxxx13.7
Sales/Revenue xxxxxxxxxxxxxxx376.1 M
Book Value Per Share xxxxxxxxxxxxxxx246.8
Net Operating Cash Flow xxxxxxxxxxxxxxx154.4 M
Net Profit Margin xxxxxxxxxxxxxxx56.50 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx7.48 %
Return on Invested Capital xxxxxxxxxxxxxxx4.81 %
Return on Assets xxxxxxxxxxxxxxx4.65 %
Return on Equity xxxxxxxxxxxxxxx7.48 %
Return on Total Capital xxxxxxxxxxxxxxx4.70 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-175.4 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 202020212022202320242025
Short-Term Debt xxxxxxxxxxxxxxx0 M
Long Term Debt xxxxxxxxxxxxxxx1,572 M
Total Debt xxxxxxxxxxxxxxx1,572 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx9 M
Price To Book Value xxxxxxxxxxxxxxx0.89

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx170.7 M
Capex % of Sales xxxxxxxxxxxxxxx45.39 %
Cost of Goods Sold xxxxxxxxxxxxxxx137 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx31 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx4,468 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

0.2

No. Of Recommendations

6
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Ord Minnett

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Macquarie

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Bell Potter

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Citi

20/08/2025

1

Buy

$2.40

-1.64%

Region Group’s result was in line with Citi’s expectations, with the broker noting the REIT has returned to growth as the cycle begins to turn in its favour.

Comparable net operating income rose 3.2% on moderating property expenses, explain the analysts, while the portfolio recorded 97.5% occupancy and 5.4% specialty vacancy.

The broker highlights 372 leasing deals with average spreads of 3.7% and 81% tenant retention, alongside 5% specialty rent growth since FY22. Average annual rent reviews of 4.3% apply to 94% of tenants, while 21.7MW of solar PV is now operational across 33 sites.

Management is assessing capital allocation options including acquisitions and potential buybacks, with non-discretionary sales continuing to underpin growth, highlights Citi .Supermarket sales rose 3.3% and non-discretionary specialty sales increased 3.7%.

Citi lifts its funds from operations (FFO) and adjusted funds from operations (AFFO) forecasts for FY26 and FY27.

The broker keeps its $2.40 target and Buy rating.

FORECAST
Citi forecasts a full year FY26 dividend of 14.10 cents and EPS of 15.90 cents.
Citi forecasts a full year FY27 dividend of 14.50 cents and EPS of 16.60 cents.

UBS

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Morgan Stanley

xx/xx/xxxx

5

xxxxxxxxxxx

$xx.xx

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

Moelis

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Jarden

21/08/2025

3

Neutral

$2.60

6.56%

Region Group’s FY25 result showed net operating income growth of 3.0-3.5%, back in line with non-discretionary retail peers, according to Jarden.

The broker notes moderating expense growth, with property expenses down -1% in the second half . In a sign of improving operating leverage costs are expected to rise/worsen by -3-3.5% in FY26 against revenue growth of 4-4.5%. 

Cap rate compression of -11bps was recorded in the half, and Jarden forecasts a further -10bps  in FY26, while weighted average cost of debt (WACD) is guided at 4.6% in FY26 and should remain stable due to hedging.

With gearing at 32.5%, Jarden sees capacity for acquisitions. The broker retains a Neutral rating with a $2.60 target price.

FORECAST
Jarden forecasts a full year FY26 dividend of 14.00 cents and EPS of 16.00 cents.
Jarden forecasts a full year FY27 dividend of 14.80 cents and EPS of 16.90 cents.
Access Extra Coverage Research History >

RGN STOCK CHART

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