Stockland is one company that is benefiting from the strong residential property market
Stockland is one company that is benefiting from the strong residential property market. It recently handed down a solid full-year profit result with strong demand for its residential projects in the likes of Calleya in Perth and Willowdale in Sydney's southwest. The company has also removed uncertainty by offloading its 20 per cent holding in Australand after a failed takeover. With a solid platform for growth, a strong balance sheet and 5.7 per cent yield, though unfranked, we think Stockland is attractive to yield investors. Stockland made a 24c per share unfranked distribution, which gives investors a solid 5.7 per cent year, and the company expects to maintain the 24c distribution this year. That yield, along with a healthy residential property market and the prospect of value-adding acquisitions with its strong balance sheet, makes Stockland a good option for income investors. View the report: (VIEW LINK)
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