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Stockland Corp Ltd SGP

Rating as of

Morningstar’s Analysis

Valuation
Currency in AUD
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1-Star Price

PREMIUM

5-Star Price

PREMIUM

Economic Moat

PREMIUM

Capital Allocation

PREMIUM

Stockland’s Residential Outlook Strong Near-Term, but Likely to Moderate in Outer Years.

Alexander Prineas Equity Analyst

Analyst Note

| Alexander Prineas |

No-moat Stockland delivered an annual result in line with our expectations, with funds from operations, or FFO, of AUD 33.1 cents per security, which was at the top end of management guidance.

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Company Profile

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, and a small amount comes from a retirement living 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.

Contact
133 Castlereagh Street, Level 25
Sydney, NSW, 2000, Australia
T +61 290352000
Sector Real Estate
Industry REIT - Diversified
Most Recent Earnings
Fiscal Year End Jun 30, 2022
Stock Type
Employees 1,013