Continued Tightness in Housing Credit Drags on Stockland. FVE Cut to AUD 3.90
Stockland’s operational update for third-quarter fiscal 2019 confirmed trading conditions remain extremely challenging for the firm’s two largest divisions of retail shopping malls and residential land sales and development. Against this backdrop, Stockland reaffirmed guidance for growth in funds from operations, or FFO, per security of around 5% for fiscal 2019. Our forecasts are just below guidance at 4% FFO growth.An expectation of continued tightness in bank lending criteria and increasing...
Stockland is engaged in owning, managing and developing shopping centres, logistics centres and business parks, office assets, residential communities, and retirement living villages. As of June 30 2016, Co.'s Commercial Property portfolio included 42 retail centres, 27 properties of logistics and business parks portfolio, and nine assets of office portfolio; and it had approximately 76,800 lots in its residentialportfolio. Also, Co. is a retirement living operator in Australia, with over 9,600 established units across five states and the Australian Capital Territory, which includes a development pipeline of over 3,100 units.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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