SCG has performed ok since COVID but it remains 25% below its average price in 2019 which makes sense as this real estate investment trust (REIT) has had to deal with the likes of rental disputes, shutdown centres etc. Obviously the picture looks better into 2022 as we are poised for a vaccination led reopening but the owner of Westfield centres had to raise billions in debt last year to shore up its balance sheet and this will take time to pay down.
MM is neutral / slightly positive SCG
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