Here are the real estate shares buoying the market on Tuesday…
The post Real estate shares are leading the ASX 200 on Tuesday appeared first on The Motley Fool Australia. –
In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is looking worse for wear, trading 0.57% lower to 7,328.70 points. More than 65% of companies included in the benchmark index are in the red today.
However, real estate shares are well ahead of the rest of the market today. This gain makes the sector the best performing in the last month.
Here’s a closer look at what is going on among real estate shares on the ASX today.
ASX 200 real estate shares in the green today
Goodman Group (ASX: GMG)
Today, Goodman Group is both the largest and the highest returning real estate share in the ASX 200. The global property company is experiencing a strong 6.9% uptick in its share price on Tuesday. This momentous move follows the release of its first-quarter update.
The update reflected a strong start to the new financial year for the commercial and industrial property group. Additionally, Goodman reported an occupancy rate of 98.4% across its now $62 billion worth of assets under management.
Citing continued strength in its business, Goodman has upgraded its operating earnings per share (EPS) growth guidance to over 15%. For context, the property group had previously forecast growth in the range of 10%.
Charter Hall Group (ASX: CHC)
Goodman is not alone in the continued revitalisation of ASX 200 real estate shares. Another property player enjoying a trot on the green today is Charter Hall Group. It is possible the smaller integrated property group has fallen into a slipstream behind Goodman Group, benefitting from the heightened positive for the sector as a whole.
Although, Charter Hall posted its own earnings guidance upgrade yesterday. Specifically, the property group increased its guidance to no less than 83 cents per share for FY22, representing a minimum increase of 36% year on year.
Lendlease Group (ASX: LLC)
Lastly, Lendlease Group rounds out some of the best performing ASX 200 real estate shares on the market today. Similar to Charter Hall, Lendlease has not made an announcement of its own today. However, yesterday it informed the market of the services sale completion. In turn, the $7.2 billion property and infrastructure group collected the full $310 million sale price.
The Lendlease share price is up 2.25% to $10.69 in afternoon trade.
The post Real estate shares are leading the ASX 200 on Tuesday appeared first on The Motley Fool Australia.
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