Stockland reaffirms FY26 guidance on stronger leasing demand
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The news: Diversified property group Stockland has maintained its funds from operations (FFO) guidance and distributions for the full year, citing strong operational performance and leasing demand across its portfolio during the third quarter.
The numbers: In the nine months to 31 March, the company executed 31,000 square meters of leases year to date in the logistics division, up from 176.693 square metres in the prior year, with a positive re-leasing spread of 31.1%. Occupancy rate reached 96.1%, slightly lower than 96.8% recorded a year ago.
The workplace division also saw growth, with leases executed increasing to 25,585 square metres, up from 13,607 square metres last year.
In the residential segment, the group sold 317 homes in the third quarter, a significant increase from 121 from the prior corresponding period, primarily driven by positive price growths in Queensland.
The context: Stockland has maintained its FFO guidance of between 36 cents and 37 cents per security for the full year and expects distribution to be 25.2 cents per security.
Residential volume guidance also remained unchanged with the FY26 masterplanned communities settlements targeted at 7,500-8,500 lots and the land lease settlements of 700-800 homes.
The source: ASX
