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Property Stocks Down Under 19 October 2022: Stockland (ASX:SGP)
Stockland: It won’t escape the downturn, but will bounce back
The property market downturn has left few (if any) REITs untouched. Even 70-year-old Stockland has not been able to escape, with its shares down roughly 25% this year and the company trading at roughly the same percentage discount to its NTA. Stockland is one of the most diversified property stocks consisting of master- planned communities, town centres, workplaces, logistics properties and land lease communities, all of which finished 2022 lower than what they began the year at. But with a relatively healthier debt position, positive underlying market trends in its portfolio and trading at cheap multiples, Stockland could be set to bounce back ahead of its peers.
Click here to read the previous edition of Property Stocks Down Under published 12 October 2022.