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Company News Summary

Stockland Releases a Market Update for the Period Ended 31 March 2021

20 Apr 2021  |  09:17:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Stockland Q321 Update

Stockland released a market update for the period ended 31 March 2021 (3Q 2021) (Quarter). It executed leases financial year to date of over 230,000 square metres in the Logistics business. During the Quarter, the business settled 1,510 lots and had 4,739 contracts on hand at 31 March 2021, with 3,100 lots due to settle in FY 2022, providing good earnings visibility. In the Quarter the Company settled the non-core divestments of Traralgon (VIC) for $85m on 31 March 2021 and The Pines (VIC) for $155m on 8 January 2021. The Company continue to target 2H 2021 FFO per security in the range of 16.3c to 16.9c delivering FFO per security for FY 2021 of between 32.5c to 33.1c, in line with prior guidance.

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