Tiger Brokers

BUZZ-Morningstar lifts outlook on Australia's Stockland; stock gains

Reuters
Nov 12, 2024

** Real estate developer Stockland rises 0.8% to A$5.19

** Morningstar positive about approval secured for co's property deal with peer LendLease

** Expects SGP's FY25 rev from operations at A$33.4 cents per share, 3% higher than previously estimated

** Says Stockland’s residential business well-placed for the next few years, given its scale, an undersupply of housing and strong population growth in Australia

** Adds co's logistics and retail sectors continue to benefit from strong tenant demand, low vacancy rates and positive rental uplifts

** LLC currently down 0.5%

** SGP has risen 15.7% so far this year, as of last close; LLC down ~10% in the same period, as of last close

(Reporting by Rishav Chatterjee in Bengaluru)

((mailto:Rishav.Chatterjee@thomsonreuters.com;))

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