CANBERA (dpa-AFX) - Australian property company Stockland Corp. Ltd. (SGP.AX, STKAF.PK) reaffirmed its fiscal year 2025 Funds from operations per security guidance of between 33.0 cents and 34.0 cents on a post-tax basis. Fiscal year 2025 distribution per security is expected to be around 75% of post-tax Funds from operations.
Stockland announced that it has finalized contractual negotiations to undertake the development of the Waterloo Renewal Project in New South Wales, in collaboration with consortium partners.
The company released its operational update for the third quarter ended on 31 March 2025. Re-leasing spreads was 26.0% for Logistics.
The Essentials-based Town Centres' portfolio continues to show positive sales growth and strong leasing spreads. It has achieved a total comparable MAT growth of 2.4%, along with a comparable MAT specialty sales growth of 1.5%.
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