Stockland’s Residential Roars While Retail Stalls. FVE Unchanged at AUD 4.65
Trading conditions are becoming increasingly polarised for Stockland’s two largest divisions of residential and retail. We’ve raised earnings expectations for residential development as guidance for fiscal 2018 settlements was upgraded from over 6,000 to around 6,500 lots. Residential land lot pre-sales continue to run hard, with fiscal 2017 sales exceeding settlements by 1,250 or 20%. But we’ve trimmed rent growth expectations for retail as tenants feel the pinch of rising competition and a str...
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