2105 GMT - Stockland had its best quarter for residential sales since 2021. Citi thinks its 2Q will be even better. Stockland reported 2,117 residential sales in 1Q, improving from 1,848 in the final quarter of FY 2025. Analyst Suraj Nebhani points out that enquiry levels have bounced back strongly to 2022 highs, indicating a stronger outlook for the business. "We note that 1Q is typically weaker seasonally and we see further upside in 2Q off the back of the first home guarantee scheme starting on Oct. 1," Citi says. Stockland's strong start to FY 2026 means it's well placed to meet a target of settling 7,500-8,500 residential lots across the 12 months as a whole, says Citi, which rates Stockland a buy. It forecasts 8,290 settlements in FY 2026. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
October 19, 2025 17:05 ET (21:05 GMT)
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