New highs and lows: REITs, Miners and Financials are tumbling to 52-week lows
More than a quarter of ASX 200 constituents have hit a fresh 52-week low in the past week.
Source: iStock
Mentioned
KEY POINTS
- Real estate stocks have crumbled under the weight of rising yields
- The latest third quarter results from miners showed that most base metal miners are doing it tough
- Fund managers have seen a persistent decline in funds under management
Welcome back to the 52-week Series – A recap of ASX 200 stocks marking yearly highs and lows in the past week.
Over 25% of ASX 200 constituents hit a fresh 52-week low last week, as the Index dipped to levels last seen in November 2022.
52-Week Highs and Lows by Sector
Real Estate: 0 Highs, 13 Lows
Materials: 1 Highs, 10 Lows
Financials: 0 Highs, 8 Lows
Industrials: 0 Highs, 7 Lows
Discretionary: 0 Highs, 6 Lows
Healthcare: 0 Highs, 4 Lows
Staples: 0 Highs, 3 Lows
Technology: 0 Highs, 2 Lows
Utilities: 0 Highs, 1 Low
Energy: 0 Highs, 0 Lows
The Lone 52-Week High
Ticker | Company | Close Price | Sector | 1 Year |
|---|---|---|---|---|
Ramelius Resources | $1.72 | Materials | 131.8% |
Stocks at 52-Week Lows: Real Estate
Real Estate stocks have crumbled under the weight of rising yields. The Australian Government 10-year yield is up 52 bps since mid-October and its only gathered more momentum after:
Australian inflation came in hotter-than-expected last week, up 5.4% year-on-year in the September quarter vs. the 5.3% expected. The monthly inflation indicator was up 5.6% for September vs. the 5.4% expected
RBA Governor Bullock said in the lead up to the CPI print: "The Board will not hesitate to raise the cash rate further if there is a material upward revision to the outlook for inflation."
According to JPMorgan, the correlation between the 10-year bond yield and Charter Hall Group price-to-earnings is -0.75. "One might have to wait for the long end of the rate curve to ease before the stock bounces back in a sustainable manner," the analysts said in a note last month.
Ticker | Company | Close Price | Sector | 1 Year |
|---|---|---|---|---|
Centuria Industrial | $2.84 | Real Estate | -5.0% | |
Mirvac Group | $1.88 | Real Estate | -6.3% | |
GPT Group | $3.60 | Real Estate | -14.7% | |
Arena Reit | $3.21 | Real Estate | -16.2% | |
Dexus Units | $6.46 | Real Estate | -16.7% | |
Homeco Daily Needs Reit | $1.05 | Real Estate | -16.7% | |
National Storage Reit | $2.04 | Real Estate | -18.1% | |
Waypoint Reit | $2.12 | Real Estate | -22.6% | |
Region Group | $1.99 | Real Estate | -25.8% | |
Charter Hall Long Wale | $3.11 | Real Estate | -27.8% | |
Lendlease Group | $6.30 | Real Estate | -28.3% | |
Charter Hall Group | $8.75 | Real Estate | -30.6% | |
Cromwell Property | $0.34 | Real Estate | -51.8% |
Stocks at 52-Week Lows: Materials
The latest third quarter results from miners showed that most base metal miners are doing it tough amid stagnant growth pipelines, high energy costs, permitting delays and a lack of skilled workers.
Ticker | Company | Close Price | Sector | 1 Year |
|---|---|---|---|---|
South32 | $3.33 | Materials | -7.5% | |
Iluka Resources | $7.44 | Materials | -12.0% | |
Orora | $2.51 | Materials | -12.2% | |
Mineral Resources | $60.39 | Materials | -15.7% | |
Nufarm | $4.38 | Materials | -20.4% | |
Amcor PLC | $13.75 | Materials | -22.7% | |
IGO | $10.65 | Materials | -31.4% | |
Alumina | $0.81 | Materials | -40.0% | |
Chalice Mining | $1.85 | Materials | -56.4% | |
Sayona Mining | $0.08 | Materials | -65.1% |
Stocks at 52-Week Lows: Financials
Fund managers have seen a persistent decline in funds under management, with Magellan reporting $35 billion as of September 29, 2023, down 10.3% month-over-month and 31.2% year-over-year.
Ticker | Company | Close Price | Sector | 1 Year |
|---|---|---|---|---|
Macquarie | $160.62 | Financials | -3.5% | |
Challenger | $5.90 | Financials | -14.2% | |
ASX | $55.87 | Financials | -14.4% | |
Perpetual | $19.14 | Financials | -21.9% | |
Centuria Capital | $1.18 | Financials | -27.8% | |
Bank of Queensland | $5.20 | Financials | -29.2% | |
Insignia Financial | $2.06 | Financials | -32.7% | |
Magellan Financial | $6.37 | Financials | -33.9% |
Stocks at 52-Week Lows: Everything else
Ticker | Company | Close Price | Sector | 1 Year |
|---|---|---|---|---|
Nine Entertainment | $1.81 | Discretionary | -10.4% | |
Bapcor | $5.40 | Discretionary | -16.2% | |
Tabcorp | $0.78 | Discretionary | -19.6% | |
Lovisa | $17.56 | Discretionary | -24.3% | |
EVT | $10.16 | Discretionary | -30.0% | |
The Star Entertainment | $0.60 | Discretionary | -75.6% | |
Nanosonics | $3.73 | Healthcare | -2.9% | |
Ansell | $21.20 | Healthcare | -23.6% | |
Polynovo | $1.14 | Healthcare | -41.7% | |
Healius | $1.84 | Healthcare | -45.4% | |
Auckland International Airport | $6.80 | Industrials | -0.3% | |
Transurban | $11.89 | Industrials | -10.4% | |
Cleanaway Waste Management | $2.27 | Industrials | -14.0% | |
Atlas Arteria | $5.35 | Industrials | -18.9% | |
Block Inc | $67.03 | Industrials | -26.5% | |
IPH | $6.90 | Industrials | -28.9% | |
Link Administration | $1.23 | Industrials | -63.5% | |
Coles | $15.29 | Staples | -6.0% | |
A2 Milk | $3.89 | Staples | -25.9% | |
Endeavour Group | $5.02 | Staples | -28.7% | |
Chorus | $6.69 | Technology | -6.2% | |
Iress | $5.06 | Technology | -49.1% | |
APA Group | $8.30 | Utilities | -20.4% |
