Stockland Corporation Ltd Positive outlook
Positive outlook: Stockland Corporation Ltd (ASX: SGP) had announced that Andrew Stevens would join the Stockland Board from 1st July 2017. On the other side, SGP has maintained FY17 guidance for growth in Funds from Operations (FFO) per security of 6-7%, assuming no material change in market conditions. The company remains on track to achieve FY17 Distribution per Security (DPS) of 25.5 cents, based on the higher of Total Trust Income (TTI) or 75 – 85% of FFO, up 4.1% on FY16. SGP’s Residential business has achieved 1,891 net deposits in the third quarter and 5,984 net deposits in the financial year to date, as compared to a total of 4,844 net deposits up to the corresponding point in time last year. SGP’s Residential business is on track to meet its full year target of more than 6,000 settlements. Moreover, SGP has continued to invest in the portfolio as well as remixed the centers to deliver good growth of 2.7% in specialty sales per square meter across their comparable shopping Centre portfolio. Overall comparable annual sales across all retail categories lost over 0.2%. But, the group believes that they are on track to achieve Retail FFO growth in line with the guidance of 3 – 4% for the full year, driven primarily by specialty stores. Further, SGP’s Retirement Living business achieved 244 net reservations in the quarter. The result was in line with internal forecasts, which allowed for the timing of new development stage releases and the withholding of units at Oak Grange in Melbourne and Castle Ridge in Sydney, pending proposed redevelopment activities.
To read the complete report CLICK HERE. To get your free report CLICK HERE
The advice given by Kalkine Pty Ltd and provided on this website is general information only and it does not take into account your investment objectives, financial situation or needs. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it. You should seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice. Not all investments are appropriate for all people. Kalkine.com.au and associated websites are published by Kalkine Pty Ltd ABN 34 154 808 312 (Australian Financial Services License Number 425376). The information on this website has been prepared from a wide variety of sources, which Kalkine Pty Ltd, to the best of its knowledge and belief, considers accurate. You should make your own enquiries about any investments and we strongly suggest you seek advice before acting upon any recommendation. Kalkine Pty Ltd has made every effort to ensure the reliability of information contained in its newsletters and websites. All information represents our views at the date of publication and may change without notice. To the extent permitted by law, Kalkine Pty Ltd excludes all liability for any loss or damage arising from the use of this website and any information published (including any indirect or consequential loss, any data loss or data corruption). If the law prohibits this exclusion, Kalkine Pty Ltd hereby limits its liability, to the extent permitted by law to the resupply of services. There may be a product disclosure statement or other offer document for the securities and financial products we write about in Kalkine Reports. You should obtain a copy of the product disclosure statement or offer document before making any decision about whether to acquire the security or product. The link to our Terms & Conditions has been provided please go through them and also have a read of the Financial Services Guide. On the date of publishing this report (mentioned on the website), employees and/or associates of Kalkine Pty Ltd do not hold positions in any of the stocks covered on the website. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations.