SGP – Citi rates the stock as Buy, Medium Risk

In Citi’s view, investors are getting well ahead of themselves again in selling down Stockland shares. We’ve arrived at the point where the current share price assumes overall conditions worse than during the GFC, argue the analysts. They believe investors have abnandoned the stock recently led by weak housing data, negative gearing concerns and the ongoing threat from interest rate rises.

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Profits: Stockland Up

Stockland, Australia’s biggest residential property trust, might have stormed back to full-year profit because of increased sales in its residential communities business, and no asset impairment losses, but its taking a very circumspect view of the next year.

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