Westfield Corp (ASX: WFD) has been a strong performer since its market debut late last month. Since its listing on the ASX on June 25, it has jumped from $6.70 and is now trading at $7.43 – a 10.9% rise – while the S&P/ASX 200 Index (Index: ^AXJO) (ASX: XJO) has gained just 1%.
Scentre Group (ASX: SCG), which was also formed as part of the Westfield restructure, is sitting 4% higher than its original opening price.
Here are three reasons for investors to stick with Westfield Corp.
1) The stock offers investors excellent exposure to the recovering US and UK economies. As the economies improve, so should consumer and business confidence which would provide a solid boost for sales.
2) Yield. The shopping centre behemoth is expected to pay a dividend of roughly US24.6 cents per security (cps). Based on today's exchange rate, that equates to 26cps or a 3.5% yield.
3) Aussie Dollar. The Reserve Bank of Australia has jawboned the Aussie dollar recently, which will likely see our currency weaken. This would not only improve the dividends paid for Aussie investors, but it would also be excellent for Westfield's overall earnings.
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