Forces of Low Interest Rates and Rising Debt Continue to Support Stockland. AUD 4.50 FVE Unchanged
Surging demand for affordable housing means Stockland is turning away buyers and still on track to hit reaffirmed fiscal 2017 guidance for 6% to 7% growth in funds from operations per security, or FFO. Stockland is expecting to settle and deliver over 6,000 land lots in fiscal 2017, which is consistent with the prior year, but is held back from settling more by production capacity constraints and the protracted planning approval process. This is clearly evident from the firm having taken deposit...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.
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