Should you buy Westfield Corp Ltd at this share price?

Westfield Corp Ltd (ASX:WFD) has outperformed the S&P/ASX 200 (Index:^AXJO) (ASX:XJO) so far in 2015.

| More on:

Shares of Westfield Corp Ltd (ASX: WFD) have gained a little over 9% since the beginning of the calendar year to trade at $9.84, which compares to a 3.7% decline for the benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO).

Despite their strong outperformance however, Westfield shares remain well below their high of $10.49 achieved earlier this month.

Is this an opportunity to buy?

Westfield Corp was created as part of the global Westfield Group restructure last year. The company now owns and operates all Westfield-branded shopping centres in the United States and United Kingdom, while the brand’s New Zealand and Australian stores were packaged under Scentre Group Ltd (ASX: SCG).

There are plenty of reasons to like Westfield Corp as an investment prospect. First, it gives local investors exposure to international markets, which is particularly important at a time where the Australian dollar is falling (some suggest it will fall below US50 cents) and while US and European markets are recovering.

Indeed, the company is also heavily focused on improving its flagship offerings – that is, its biggest and best malls, often located in major cities – while it also has a huge development pipeline which should generate long-term growth.

Investors should certainly consider taking advantage of this blue chip company while it is on sale, whilst also benefiting from a forecast 3.6% dividend yield.

Wondering where you should 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 could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.

*Returns as of May 24th 2021

Motley Fool contributor Ryan Newman has no position in any stocks mentioned. Unless otherwise noted, the author does not have a position in any stocks mentioned by the author in the comments below. You can follow Ryan on Twitter @ASXvalueinvest. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Investing