Westfield Retail Trust

With retailers such as JB Hi-Fi, Billabong International and Harvey Norman struggling, you might expect the pain to spread to landlords. Not so, or at least not yet. Westfield Retail Trust met guidance when it reported its full-year result (it has a calendar year end) in late February with distributable income totalling $562m or 18.39 cents per security. An 8.4-cent final distribution was declared bringing the annual total to 16.5 cents. This will increase in 2012 as the board plans to payout 100% of distributable income. 2012 guidance is currently 18.75 cents, placing Westfield Retail on a 7.5% forecast yield. But it’s...

With retailers such as JB Hi-Fi, Billabong International and Harvey Norman struggling, you might expect the pain to spread to landlords. Not so, or at least not yet. Westfield Retail Trust met guidance when it reported its full-year result (it has a calendar year end) in late February with distributable income totalling $562m or 18.39 cents per security. An 8.4-cent final distribution was declared bringing the annual total to 16.5 cents. This will increase in 2012 as the board plans to payout 100% of distributable income. 2012 guidance is currently 18.75 cents, placing Westfield Retail on a 7.5% forecast yield.

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