MENU

Stockland Corporation Ltd (ASX:SGP) announces $350 million securities buy-back

Shares in diversified property giant Stockland Corporation Ltd (ASX: SGP) are up 1.3% to $4.20 today after the announcement of an on market security buy-back for up to $350 million of Stockland securities as part of an “active approach to capital management”.

Stockland handed down its FY18 results on August 23 with revenue climbing 6.6% – above its guidance – despite a drop in profit out of its retirement business with growth in its shopping centre revenue.

Stockland CEO Mark Steinert said investing in its own securities is “an attractive and accretive use of capital” at this point and the company is well-placed to finance the buy-back with $335 million in non-core asset sales over the past year and an intention to sell up to $400 million of retail town centre assets in the next 1-2 years.

The buy-back will commence on September 21.

Other real estate stocks to keep an eye on post reporting season include landlord company DEXUS Property Group (ASX: DXS), after the release of solid results on August 15 saw its share price climb.

National Storage REIT (ASX: NSR) is also on watch as it announced it would align with Stockland to create storage developments within Stockland’s portfolio.

Top 3 ASX Blue Chips To Buy In 2018

For many, blue chip stocks mean stability, profitability and regular dividends, often fully franked..

But knowing which blue chips to buy, and when, can be fraught with danger.

The Motley Fool’s in-house analyst team has poured over thousands of hours worth of proprietary research to bring you the names of "The Motley Fool’s Top 3 Blue Chip Stocks for 2018."

Each one pays a fully franked dividend. Each one has not only grown its profits, but has also grown its dividend. One increased it by a whopping 33%, while another trades on a grossed up (fully franked) dividend yield of almost 7%.

The names of these Top 3 ASX Blue Chips are included in this specially prepared free report. But you will have to hurry. Depending on demand – and how quickly the share prices of these companies moves – we may be forced to remove this report.

Click here to claim your free report.

Motley Fool contributor Carin Pickworth has no position in any of the stocks mentioned. The Motley Fool Australia has recommended National Storage REIT. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The 5 mining stocks we’re recommending in 2019…

For decades, Australian mining companies have minted money for individual investors like you and me. But if you believe the pundits and talking heads on TV, those days are long gone. Finito! Behind us forever…

We say nothing could be further from the truth. To earn the really massive returns, you’ve got to fish where others aren’t fishing—and the mining sector could be primed for a resurgence. That’s why top Motley Fool analysts just revealed their exciting new research on 5 ASX miners they believe could help you profit in 2019 and beyond…

Including:

The best way we see to play the global zinc shortage… Our #1 favourite large-cap miner (hint: it’s not BHP)… one early-stage gold miner we think could hit the motherlode… Plus two more surprising companies you probably haven’t heard of yet!

For free access to our brand-new research, simply click here or the link below. But be warned, this research is available free for a limited time only, and we reserve the right to withdraw it at any time.

Click here for your FREE report!