Westfield (WFD.ASX) reported 1H16 earnings of $715m at the EBIT line and FFO of $342m or $0.165 cents per share. FY16 guidance remains around $0.34 cps
WFD trades on a high multiple and a forward yield into FY17 of 3.4%. For this reason, we see the stock fully valued but attractive due to it’s high quality asset base and $7b+ development pipeline.
Add a Dec covered call to enhance the yield.