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Stockland
(Sydney:SGP)
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Rating:76Outperform
Price Target:
AU$4.50
â–Ľ(-1.96% Downside)
Action:Reiterated
Date:08/20/26
The score is driven mainly by strong financial performance (rebounding profitability and materially stronger free cash flow) and supportive earnings-call outlook (continued FFO growth guidance and conservative gearing). Valuation is also favorable (low P/E and high yield). Technical signals are only moderate, with the stock still below the 200-day average and softer momentum indicators.
Positive Factors
Growing earnings and cash generation
Higher FFO, operating cash flow and free cash flow indicate that Stockland is converting a growing earnings base into cash. This supports distributions, development investment and balance-sheet resilience, while the close relationship between cash flow and earnings strengthens confidence in earnings quality.
Negative Factors
Higher funding costs
Higher borrowing costs can reduce funds from operations and development returns, particularly while Stockland activates a large pipeline requiring capital. Rising interest expense also makes project timing and capital allocation more important, potentially limiting the benefit of future operating growth.
Read all positive and negative factors
Positive Factors
Negative Factors
Growing earnings and cash generation
Higher FFO, operating cash flow and free cash flow indicate that Stockland is converting a growing earnings base into cash. This supports distributions, development investment and balance-sheet resilience, while the close relationship between cash flow and earnings strengthens confidence in earnings quality.
Read all positive factors
Stockland (SGP) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$10.03B
Dividend Yield6.03%
Average Volume (3M)11.93M
Price to Earnings (P/E)10.0
Beta (1Y)0.83
Revenue Growth14.63%
EPS Growth18.93%
CountryAU
Employees1,674
SectorReal Estate
Sector Strength53
IndustryREIT - Diversified
Share Statistics
EPS (TTM)0.41
Shares Outstanding2,431,644,000
10 Day Avg. Volume8,959,125
30 Day Avg. Volume11,933,022
Financial Highlights & Ratios
PEG Ratio0.58
Price to Book (P/B)0.92
Price to Sales (P/S)2.75
P/FCF Ratio11.39
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$5.04Price Target Upside9.71% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering7
EPS Forecast (FY)0.37
Revenue Forecast (FY)AU$1.26B
Stockland Business Overview & Revenue Model
Company Description
Established in 1952, Stockland (ASX:SGP) has evolved into one of Australia's premier diversified property developers, owners, and managers. The company oversees a substantial portfolio encompassing bustling retail hubs, vibrant residential communi...
Stockland Earnings Call Summary
Earnings Call Date:Aug 18, 2026
(Q4-2026)
| % Change Since: |
Next Earnings Date:Feb 18, 2027
Earnings Call Sentiment Positive
The call emphasized strong operational delivery and strategic progress: double-digit FFO growth, improved gearing and NTA, record residential settlements, expansion of recurring management income and the launch of a material data center program with ~450 MW of power secured. Management also highlighted active capital recycling, new blue-chip partners, and sustainability milestones. Offsetting these positives were margin pressure in the MPC business driven by mix shifts, higher overheads and capitalized interest as the development pipeline is activated, some moderation in residential market activity (notably Victoria), and early-stage execution and customer-contractor risk for data centers. On balance, the positive operational and financial outcomes, clear capital-partnering pathway and diversified growth drivers outweigh the near-term execution and cost pressures.Positive Updates
Funds from Operations Growth
FFO rose 10.4% to $892 million; FFO per security increased 9.1% to $0.369, sitting at the top end of guidance.
Negative Updates
Margin Pressure in MPC and Margin Outlook
MPC development operating profit margin reported at 21.2% (in line with guidance) but management indicated a lower margin outlook versus prior years due to mix shifts (trading out of higher-margin projects) and a more moderate near-term market.
Read all updates
Q4-2026 Updates
Positive
Negative
Funds from Operations Growth
FFO rose 10.4% to $892 million; FFO per security increased 9.1% to $0.369, sitting at the top end of guidance.
Read all positive updates
Company Guidance
Stockland guided FY‑27 FFO per security of $0.38–$0.39 (post‑tax) and a distribution per security of $0.252 (in line with FY‑26), expects its weighted average cost of debt to rise to 5.9% (from 5.3% in FY‑26) and is maintaining conservative gearing (22.7% at year end, down from 28.1%); by way of context FY‑26 delivered FFO $892m (+10.4%) and FFO/sec $0.369, statutory profit $994m (+20.2%), operating cash flow $876m, NTA $4.39 (+4%), MPC settlements ~8,900 (+30%) with sales up c.49–53%, land‑lease FFO $137m (+40%) and a commercial development pipeline end value of ~ $16bn (c. $9bn logistics). Management highlighted initial FY‑27 earnings from data‑center site transfers (450MW secured across 3 sites, 4 further opportunities), estimated data‑center capex ~ $20m/MW, and that data‑center cash equity is expected to be ~10% of group net funds employed (funds employed ~ $15bn → ~ $1.5bn over time); cumulative development revaluation gains will only be recognized in FFO when cash‑backed (not expected to materially affect FY‑27).Stockland Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
72
Positive
Cash Flow
81
Very Positive
| Breakdown | Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 3.59B | 3.13B | 2.99B | 2.81B | 2.81B |
| Gross Profit | 1.28B | 1.22B | 1.18B | 862.00M | 760.00M |
| EBITDA | 1.15B | 1.00B | 465.00M | 614.00M | 764.00M |
| Net Income | 994.00M | 826.00M | 305.00M | 440.00M | 1.38B |
Balance Sheet | |||||
| Total Assets | 18.82B | 17.74B | 17.06B | 16.64B | 20.41B |
| Cash, Cash Equivalents and Short-Term Investments | 796.00M | 647.00M | 807.00M | 306.00M | 399.00M |
| Total Debt | 4.93B | 5.18B | 4.77B | 3.95B | 4.51B |
| Total Liabilities | 8.11B | 7.56B | 7.17B | 6.46B | 10.05B |
| Stockholders Equity | 10.71B | 10.19B | 9.89B | 10.18B | 10.36B |
Cash Flow | |||||
| Free Cash Flow | 865.00M | 325.00M | 110.00M | 309.00M | 896.00M |
| Operating Cash Flow | 876.00M | 328.00M | 114.00M | 332.00M | 918.00M |
| Investing Cash Flow | -109.00M | -139.00M | 101.00M | 763.00M | -976.00M |
| Financing Cash Flow | -618.00M | -261.00M | 233.00M | -1.22B | -705.00M |
Stockland Technical Analysis
Positive
4.59
Price Trends
4.27
Negative
4.17
Positive
4.30
Negative
Market Momentum
-0.02
Negative
49.59
Neutral
38.05
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:SGP, the sentiment is Positive. The current price of 4.59 is above the 20-day moving average (MA) of 4.16, above the 50-day MA of 4.27, and above the 200-day MA of 4.30, indicating a neutral trend. The MACD of -0.02 indicates Negative momentum. The RSI at 49.59 is Neutral, neither overbought nor oversold. The STOCH value of 38.05 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:SGP.
Stockland Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | AU$10.03B | 9.96 | 9.44% | 6.03% | 14.63% | 18.93% | |
74 Outperform | AU$8.72B | 8.40 | 9.83% | 5.23% | -7.59% | 178.60% | |
69 Neutral | AU$53.26B | 19.15 | 11.41% | 1.16% | 17.33% | 59.19% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
64 Neutral | AU$6.00B | 12.66 | 4.83% | 6.60% | -28.16% | 250.74% | |
58 Neutral | AU$701.52M | -9.11 | -4.99% | 10.76% | -5.19% | -377.08% | |
54 Neutral | AU$9.23B | 25.65 | 20.47% | 2.60% | -19.06% | 6.95% |
* Real Estate Sector Average
AU:SGP
Stockland
4.19
-2.19
-34.30%
AU:CHC
Charter Hall Group
19.52
-2.99
-13.29%
AU:DXS
Dexus
5.67
-1.50
-20.88%
AU:GMG
Goodman Group
26.22
-7.32
-21.82%
AU:GPT
GPT Group
4.68
-0.62
-11.71%
AU:ABG
Abacus Property Group
0.79
-0.33
-29.40%
Stockland Corporate Events
Stockland boosts equity-based incentives for director Tarun Gupta
Oct 20, 2026
Stockland has disclosed a change in the interests of director Tarun Dinkar Gupta, reflecting an increase in both his ordinary stapled securities and performance rights. His holding of ordinary stapled securities rose to 2,207,162, including intere...
Stockland Issues 2.8 Million Unquoted Performance Rights Under Employee Incentive Scheme
Oct 20, 2026
Stockland has issued 2,835,565 unquoted performance rights under its employee incentive scheme, effective 19 October 2026. The securities, classified as performance rights and not intended to be quoted on the ASX, form part of Stockland’s br...
Stockland Discloses Final Director Interest as Andrew Stevens Departs Board
Oct 20, 2026
Stockland has announced that director Andrew Cameron Stevens has ceased serving on its board as of 19 October 2026. His final director’s interest notice lodged with the ASX details his remaining interest in 40,000 ordinary stapled securities...
Stockland investors back all resolutions at 2026 AGM
Oct 19, 2026
Stockland has reported that all resolutions put to the 2026 Annual General Meeting of Stockland Corporation Limited and the concurrent meeting of unit holders of Stockland Trust were passed by the required majority. The endorsed items included the...
Stockland posts higher FY26 profit as reshaped portfolio and sustainability push underpin growth
Oct 19, 2026
Stockland reported that over the past five years it has materially reshaped its portfolio and operating model, pursuing disciplined capital management and capital recycling to fund higher-return assets and build a high-quality capital partnering p...
Stockland Issues 1Q27 Operational Update for Diversified Property Portfolio
Oct 19, 2026
Stockland has released its operational update for the quarter ended 30 September 2026, providing investors and the market with performance details for its diversified property portfolio. The first-quarter disclosure underscores ongoing activity ac...
Stockland Reports Lapse of Over 2 Million Performance Rights
Oct 11, 2026
Stockland has disclosed the lapse of 2,048,194 performance rights on 30 September 2026 after the conditions attached to these rights were not satisfied or became incapable of being met. The cessation affects its issued capital, reducing outstandin...
Stockland Issues Over 1.17 Million New Stapled Securities Following Option Conversions
Oct 11, 2026
Stockland has notified the market of the issue and transfer of 1,176,615 fully paid stapled ordinary securities, following the conversion or exercise of previously unquoted options or other convertible securities. The new securities, dated 30 Sept...
Stockland Corrects AGM TSR Peer Benchmark, Board Still Backs Incentive Plan
Oct 2, 2026
Stockland has issued a correction to its 2026 Annual General Meeting Notice, clarifying the composition and weighting of the peer group used for its Relative Total Shareholder Return (TSR) performance benchmark. The peer benchmark now correctly re...
Stockland sets hybrid 2026 AGM to boost investor access
Sep 16, 2026
Stockland has announced that its 2026 Annual General Meeting for Stockland Corporation Limited and the concurrent meeting of unit holders in Stockland Trust will be held as a hybrid event on 19 October in Sydney. Securityholders will receive the f...
UBS exits substantial shareholder position in Stockland
Sep 15, 2026
UBS Group AG and its related bodies corporate have notified Stockland that they have ceased to be a substantial shareholder as of 11 September 2026. The change in UBS’s relevant interest in Stockland’s voting securities reflects a redu...
Stockland Director Adjusts Stapled Security Holdings Amid Tax-Related Sales
Sep 10, 2026
Stockland has disclosed changes in the holdings of director Tarun Dinkar Gupta in accordance with ASX listing requirements. The update details adjusted interests in ordinary stapled securities and performance rights, reflecting movements between p...
Stockland Director Penelope Winn Lifts Indirect Stake via On-Market Buy
Sep 8, 2026
Stockland has disclosed a change in director Penelope Ann Winn’s indirect interest in its ordinary stapled securities, reflecting a small on‑market purchase via a related superannuation vehicle. The transaction was executed through Win...
Stockland Director Increases Holding in Stapled Securities
Sep 3, 2026
Stockland has disclosed a change in the holdings of director Christopher John Lawton, in line with ASX listing rule 3.19A.2 requirements. The notice records his interests in the group’s ordinary stapled securities and confirms that the trans...
Stockland director Robert Johnston lifts indirect stapled security holding
Aug 31, 2026
Stockland has disclosed a change in director Robert William Johnston’s indirect interest in the company’s ordinary stapled securities, as required under ASX listing rules. The interest is held through ERJ Nominees Pty Ltd as trustee fo...
Stockland Director Kathryn McKenzie Increases Indirect Stapled Security Holding
Aug 26, 2026
Stockland has disclosed a change in the indirect security holdings of director Kathryn Mary McKenzie, as required under ASX listing rules governing director interests. Her interest is held through MCK Family Holdings Pty Ltd as trustee for the McK...
Stockland Reports Lapse of Over 1.2 Million Performance Rights
Aug 25, 2026
Stockland has reported the cessation of 1,214,008 performance rights on its register. The rights, issued as equity-based incentives, have lapsed after the relevant conditions were not met or became incapable of being satisfied as of 20 August 2026...
Stockland Maps Out 2026 Governance Compliance in ASX Appendix 4G Filing
Aug 18, 2026
Stockland has lodged its Appendix 4G and confirmed the availability of its corporate governance statement for the financial year ended 30 June 2026, in line with ASX Listing Rules. The statement is incorporated in the governance section of its ann...
Stockland Details Diversified $14.8bn Property Portfolio Mix for 2026
Aug 18, 2026
Stockland has outlined its property portfolio composition as at 30 June 2026, highlighting a balanced mix of asset classes across logistics, workplace, retail, masterplanned communities and land lease communities. The portfolio totals $14.8bn in n...
Stockland Confirms Half‑Year Distribution on Stapled Securities
Aug 18, 2026
Stockland has confirmed the actual distribution to be paid on its fully paid ordinary stapled securities for the six‑month period ended June 30, 2026, updating details first flagged in June. The notification formalises the dividend timetable...
Stockland’s 2026 Report Highlights Indigenous Reconciliation Focus
Aug 18, 2026
Stockland has used its 2026 annual report to underscore a deepening commitment to reconciliation with Aboriginal and Torres Strait Islander peoples, framing this as central to how it develops and manages communities. The report foregrounds an Indi...
Stockland lifts profit and asset values as it reshapes property portfolio
Aug 18, 2026
Stockland reported a strong financial performance for the year ended 30 June 2026, with revenue from ordinary activities rising 14.6% to $3.59 billion and net profit after tax attributable to securityholders up 20.2% to $994 million. Funds from op...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.