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Stockland Corp Ltd SGP Stock Quote

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Morningstar‘s Stock Analysis SGP

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Housing Correction Looms for Stockland, but the Group Is Well Prepared

Alexander Prineas Equity Analyst

Business Strategy and Outlook

| Alexander Prineas |

Stockland generates about two thirds of funds from operations, or FFO, from its commercial property portfolio, which is roughly half retail property, the rest industrial and office. Another third of earnings come from residential development. The development business is cyclical and its contribution to earnings swings substantially, while the commercial rental business is relatively stable. We expect earnings from the residential business will moderate as interest rates rise and house prices decline.

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Key Statistics SGP

Company Profile SGP

Business Description

Stockland is Australia’s largest housing developer, and this division generates about a third of the group’s funds-from-operations. Nearly two thirds comes from commercial property, mostly retail. It also has a growing land-lease business. The mix is evolving. Earnings from the residential development division are volatile and we expect growth to moderate there. In commercial property the group is trimming retail and adding office and industrial via acquisitions and developments. Stockland-stapled securities comprise one share in the corporation that largely operates developments and one unit in a trust that holds the property portfolio.

133 Castlereagh Street, Level 25
Sydney, NSW, 2000, Australia
T +61 290352000
Industry REIT - Diversified
Most Recent Earnings
Fiscal Year End Jun 30, 2023
Employees 1,013