Business
2 ASX REITs to grab (and 2 to avoid): fundie
A rise in long-term bond yields in recent weeks whacked share markets down globally.
But yield-sensitive stocks like real estate investment trusts (REITs) were especially pummelled.
The S&P/ASX 200 A-REIT Index (ASX: XPJ), to demonstrate, is down nearly 7% since 29 December.
But individual stocks within the REIT sector were not treated the same, according to Pengana Capital fund manager Amy Pham.
“Consistent with market trends, the steepening yield curve favoured ‘value’ stocks such as Scentre Group (ASX: SCG) and Vicinity Centres (ASX: VCX) over ‘growth’ stocks such as Goodman Group (ASX: GMG) and Charter Hall Group (ASX: CHC), despite the divergence in fundamentals witnessed over the reporting season.”
The reporting…
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