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Hi Paul l currently own scg,scp,urw,vcx and also bwp trust.I want to keep just one of these holdings but not sure which one.What one would you suggest keeping (ie:highest quality)?
A: I think BWP (which primarily owns Bunnings stores) is the highest quality, but it is now also the most expensive and paying the lowest yield at 4.2%. it has been in high demand. The analysts think it is over-valued – 14.7% downside according to FN Arena.
Vicinity (VCX) is the next highest quality. 5.7% upside according to the analysts, with a forecast yield of 5.9%.
SCG (Scentre Group), which owns the Australasian Westfield shopping centres, is next. 6.5% upside, 5.2% yield.
I don’t like either SCP (Shopping Centres Australasia) or URW (Unibail-Rodamco-Westfield). With the latter, apart from being foreign owned, there are issues around withholding tax, capital gains tax and lack of local broker coverage (only UBS covers the stock).
