Australian Mall Owners Look Set for Upbeat Year -- Market Talk

Dow Jones

01/23

0044 GMT - Australian mall owners' price-to-earnings multiples could expand this year, reckons JPMorgan. The bank is optimistic about the local consumer early in 2025, forecasting private consumption growth of 5%. "This positive outlook for retail sales is assisted by the prospect of rate cuts, strong discretionary income growth, savings rates which have rebounded and population growth which is tracking at 2%," analyst Richard Jones says. Not much new retail space is likely in 2025 and JPMorgan believes the penetration of e-commerce has stabilized. That's all good news because price-to-earnings multiples of retail REITs are positively correlated with sales, the bank says. JPMorgan has overweight calls on Vicinity Centres, GPT, Scentre, and Charter Hall Retail REIT, among others. (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

January 22, 2025 19:44 ET (00:44 GMT)

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","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"CQR.AU":"CHARTER HALL RETAIL REIT","BK7005":"零售业房地产投资信托","GPT.AU":"GPT GROUP","BK7510":"REITs概念","BK7087":"多样化房地产投资信托v","VCX.AU":"VICINITY CENTRES","BK7162":"零售房地产信托","SCG.AU":"SCENTRE GROUP"},"translate_title":"澳大利亚购物中心业主看起来将迎来乐观的一年——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CQR.AU":0.9,"SCG.AU":0.9,"VCX.AU":0.9,"GPT.AU":0.9},"content_text":"0044 GMT - Australian mall owners' price-to-earnings multiples could expand this year, reckons JPMorgan. The bank is optimistic about the local consumer early in 2025, forecasting private consumption growth of 5%. \"This positive outlook for retail sales is assisted by the prospect of rate cuts, strong discretionary income growth, savings rates which have rebounded and population growth which is tracking at 2%,\" analyst Richard Jones says. Not much new retail space is likely in 2025 and JPMorgan believes the penetration of e-commerce has stabilized. That's all good news because price-to-earnings multiples of retail REITs are positively correlated with sales, the bank says. JPMorgan has overweight calls on Vicinity Centres, GPT, Scentre, and Charter Hall Retail REIT, among others. (david.winning@wsj.com; @dwinningWSJ) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  January 22, 2025 19:44 ET (00:44 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}