Insights

The Unibail Rodamco Westfield (ASX:URW) share price has dipped 3% today

The Unibail Rodamco Westfield (ASX:URW) share price has slipped 3.2% after the REIT’s latest European asset sale announcement.
The post The Unibail Rodamco Westfield (ASX:URW) share price has dipped 3% today appeared first on The Motley Fool Australia. –

asx share price fall represented by lady in striped tshirt making sad face against orange background

The Unibail-Rodamco-Westfield (ASX: URW) share price is falling this morning after the latest acquisition announcement from the European-based real estate group.

At the time of writing, the Unibail share price is trading down 3.28% at $4.72.

What is Unibail-Rodamco-Westfield?

The group is Europe’s largest commercial real estate company and trades as a real estate investment trust (REIT) on the ASX.

Unibail purchased the USA and UK Westfield assets for a reported US$24.8 billion in Decenber 2017. The Australian and New Zealand Westfields centres remain under the control of Scentre Group (ASX: SCG).

What did the property group announce?

Unibail announced yesterday that it will sell several office assets out of the group. The real estate group has entered into separate agreements with several French institutional investors for the sale of its Village 3, Village 4 and Village 6 office buildings.

The total net disposal price of €213 million (A$343.7 million) represents a premium to the last unaffected book value.

The transactions are subject to standard conditions precedent and expected to close in the first quarter 2021.

The latest disposals are part of Unibail’s €4 billion (A$6.5 billion) disposal program, with the company having completed €0.8 billion (A$1.3 billion) once these transactions settle.

How has the Unibail share price performed?

Shares in the Aussie REIT have been steaming home ahead of Christmas and the New Year. The Unibail share price has rocketed 70.0% higher since November 9 and is currently trading at $4.72 per share.

However, the group’s shares are still trading well below their $11.40 52-week high set in December 2019. 

The Unibail share price has still fallen 56.6% for the year. Coronavirus concerns continue to weigh on the REITs as profitability remains under pressure.

Foolish takeaway

The Unibail share price is one to watch this morning as the European real estate manager continues on with its €4 billion asset disposal program.

The S&P/ASX 200 Index (ASX: XJO) closed flat on Monday at 6,699.9 points in a middling start to the week.

Where to invest $1,000 right now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

See The 5 Stocks

*Returns as of June 30th

More reading

Motley Fool contributor Ken Hall has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post The Unibail Rodamco Westfield (ASX:URW) share price has dipped 3% today appeared first on The Motley Fool Australia.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!