Australia's Region Group climbs as Citi flags strong momentum

Region Re

22/04/2025 04:12

** Shares of Region Group RGN.AX rise 1.1% to A$2.245

** Co reports Q3 leasing spreads rising to 4% vs 2.1% during the first half of the year

** ** "Tenants sales growth continued to remain strong at 2.2% during the period, with supermarkets MAT growing at 2.6% YoY during 3Q25," Citi says, adding that co's portfolio occupancy remained stable

** Brokerage highlights RGN's divestment of two shopping centres for ~A$94 million, which is expected to partially reduce co's debt levels and support buyback program

** Maintains "Buy" rating at a price target of A$2.40

** Avg rating of eight analysts is a "hold;" their median PT is A$2.31 – LSEG data

** Stock up 8.7% YTD

(Reporting by Kumar Tanishk in Bengaluru)

((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk http://www.x.com/thatstanishk;))