I came across this report from Goldman Sachs in Reddit. The PDF basically goes into detail if you had to demolish all the malls and also take a hit on the current land valuation, the current stock price for SCG would still be 10% under what you would make back in the sale of the land. Thought might be of interest to some holders here.
I've been bullish on SCG since the March crash and have added to my position several times, currently holding 55,000 shares, and will be adding more. There is an obvious risk with retail and malls at the moment, but with high liquidity, and from what's been reported mall visits are 86% of what they were same time last year, and reports from friends/family and other members here of how things look at their local Westfield, being busy, how can you lose out on this long term?
Also I think the current dip is likely associated with Victoria going back into lock down, but that only makes up 15% of SCG's income.
https://cdn-api.markitdigital.com/apiman-gateway/CommSec/commsec-node-api/1.0/event/document/2748-04677bd23e324850a0a9f5092a48848d-1/pdf?access_token=WTo7lqjizZyE1VoVtRZFUoHtZl3k
SCG Trading Under Bare Land Value
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Last
$3.10 |
Change
-0.010(0.32%) |
Mkt cap ! $16.10B | |||
| Open | High | Low | Value | Volume |
| $3.12 | $3.14 | $3.10 | $30.84M | 9.918M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 185442 | $3.10 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.11 | 13147 | 3 |
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| Last trade - 16.10pm 19/06/2024 (20 minute delay) ? |
| SCG (ASX) Chart |