Stockland
Market Cap
AU$6.6b
Last Updated
2020/04/09 10:41 UTC
Data Sources
Company Financials +
Executive Summary
Stockland (ASX: SGP) was founded in 1952 and has grown to become one of Australia’s largest diversified property groups – owning, developing and managing a large portfolio of shopping centres, residential communities, workplace and logistic assets and retirement living villages.
Rewards
Risk Analysis
Snowflake Analysis
Average dividend payer and fair value.
Similar Companies
Share Price & News
How has Stockland's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: SGP's share price has been volatile over the past 3 months.
Market Performance
7 Day Return
17.1%
SGP
11.1%
AU REITs
4.9%
AU Market
1 Year Return
-21.6%
SGP
-22.3%
AU REITs
-14.2%
AU Market
Return vs Industry: SGP exceeded the Australian REITs industry which returned -25.7% over the past year.
Return vs Market: SGP underperformed the Australian Market which returned -17.5% over the past year.
Shareholder returns
| SGP | Industry | Market | |
|---|---|---|---|
| 7 Day | 17.1% | 11.1% | 4.9% |
| 30 Day | -31.1% | -21.4% | -8.9% |
| 90 Day | -37.7% | -27.0% | -22.7% |
| 1 Year | -16.7%-21.6% | -18.6%-22.3% | -10.3%-14.2% |
| 3 Year | -26.2%-38.9% | -0.6%-14.8% | 2.6%-11.6% |
| 5 Year | -10.9%-33.9% | 30.3%1.4% | 13.9%-11.8% |
Price Volatility Vs. Market
How volatile is Stockland's share price compared to the market and industry in the last 5 years?
Simply Wall St News
4 days ago | Simply Wall St
What Did Stockland's (ASX:SGP) CEO Take Home Last Year?4 weeks ago | Simply Wall St
Have Insiders Been Buying Stockland (ASX:SGP) Shares?1 month ago | Simply Wall St
Can Stockland (ASX:SGP) Improve Its Returns?Valuation
Is Stockland undervalued compared to its fair value and its price relative to the market?
>50%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: SGP (A$3.02) is trading below our estimate of fair value (A$8.53)
Significantly Below Fair Value: SGP is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: SGP is poor value based on its PE Ratio (14x) compared to the REITs industry average (9.3x).
PE vs Market: SGP is poor value based on its PE Ratio (14x) compared to the Australian market (13.5x).
Price to Earnings Growth Ratio
PEG Ratio: SGP is poor value based on its PEG Ratio (8.8x)
Price to Book Ratio
PB vs Industry: SGP is good value based on its PB Ratio (0.7x) compared to the AU REITs industry average (0.8x).
Next Steps
Future Growth
How is Stockland forecast to perform in the next 1 to 3 years based on estimates from 9 analysts?
1.6%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: SGP's forecast earnings growth (1.6% per year) is above the savings rate (1.1%).
Earnings vs Market: SGP's earnings (1.6% per year) are forecast to grow slower than the Australian market (10.5% per year).
High Growth Earnings: SGP's earnings are forecast to grow, but not significantly.
Revenue vs Market: SGP's revenue (2.1% per year) is forecast to grow slower than the Australian market (4% per year).
High Growth Revenue: SGP's revenue (2.1% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: SGP's Return on Equity is forecast to be low in 3 years time (8.3%).
Next Steps
Past Performance
How has Stockland performed over the past 5 years?
-9.5%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: SGP has a large one-off loss of A$159.0M impacting its December 31 2019 financial results.
Growing Profit Margin: SGP's current net profit margins (17.3%) are lower than last year (24.1%).
Past Earnings Growth Analysis
Earnings Trend: SGP's earnings have declined by -9.5% per year over the past 5 years.
Accelerating Growth: SGP's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: SGP had negative earnings growth (-19.7%) over the past year, making it difficult to compare to the REITs industry average (1.7%).
Return on Equity
High ROE: SGP's Return on Equity (5.2%) is considered low.
Next Steps
Financial Health
How is Stockland's financial position?
Financial Position Analysis
Short Term Liabilities: SGP's short term assets (A$1.5B) do not cover its short term liabilities (A$4.2B).
Long Term Liabilities: SGP's short term assets (A$1.5B) do not cover its long term liabilities (A$5.1B).
Debt to Equity History and Analysis
Debt Level: SGP's debt to equity ratio (47.5%) is considered high.
Reducing Debt: SGP's debt to equity ratio has increased from 37.8% to 47.5% over the past 5 years.
Debt Coverage: SGP's debt is well covered by operating cash flow (20.6%).
Interest Coverage: SGP's interest payments on its debt are well covered by EBIT (9.6x coverage).
Balance Sheet
Next Steps
Dividend
What is Stockland's current dividend yield, its reliability and sustainability?
9.34%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: SGP's dividend (9.34%) is higher than the bottom 25% of dividend payers in the Australian market (2.99%).
High Dividend: SGP's dividend (9.34%) is in the top 25% of dividend payers in the Australian market (7.83%)
Stability and Growth of Payments
Stable Dividend: SGP's dividend payments have been volatile in the past 10 years.
Growing Dividend: SGP's dividend payments have fallen over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonable payout ratio (67.6%), SGP's dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: SGP's dividends in 3 years are forecast to be thoroughly covered by earnings (0.03% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
6.1yrs
Average management tenure
CEO
Mark Steinert
7.25s
Tenure
AU$3,406,427
Compensation
Mr. Mark Andrew Steinert, BAppSc, G Dip App Fin & Inv (Sec Inst), F Fin, AAPI has been Managing Director and Chief Executive Officer of Stockland since January 29, 2013 and has been its Director since Janu ...
CEO Compensation Analysis
Compensation vs Market: Mark's total compensation ($USD2.12M) is about average for companies of similar size in the Australian market ($USD2.56M).
Compensation vs Earnings: Mark's compensation has been consistent with company performance over the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| MD, CEO & Executive Director | 7.25yrs | AU$3.41m | 0.15% A$10.2m | |
| Chief Financial Officer | 6.5yrs | AU$1.77m | 0.019% A$1.3m | |
| General Counsel & Company Secretary | 5.67yrs | AU$1.23m | 0.011% A$721.9k | |
| Group Executive & CEO of Stockland Communities | 6.83yrs | AU$1.67m | 0.016% A$1.1m | |
| Group Executive & CEO of Commercial Property | 1.83yrs | AU$1.32m | 0.0016% A$102.4k | |
| Group Executive & Chief Investment Officer | 6.5yrs | AU$1.94m | no data | |
| General Manager of Investor Relations | no data | no data | no data | |
| Senior Manager of Media Relations & Internal Communications | no data | no data | no data | |
| Group Executive of People & Culture | 1.08yrs | no data | no data | |
| Head of Retail | 1.17yrs | no data | no data |
6.1yrs
Average Tenure
Experienced Management: SGP's management team is seasoned and experienced (6.1 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| MD, CEO & Executive Director | 7.25yrs | AU$3.41m | 0.15% A$10.2m | |
| Member of the Advisory Board | 11.83yrs | no data | no data | |
| Member of the Advisory Board | 11.83yrs | no data | no data | |
| Non-Executive Director | 12.5yrs | AU$227.70k | 0.0032% A$212.0k | |
| Non-Executive Director | 1.67yrs | AU$186.27k | 0.0021% A$137.8k | |
| Non-Executive Chairman | 3.5yrs | AU$500.00k | 0.0021% A$137.8k | |
| Member of the Advisory Board | 11.83yrs | no data | no data | |
| Non-Executive Director | 2.75yrs | AU$195.00k | 0.0017% A$110.2k | |
| Non-Executive Director | 3.83yrs | AU$281.25k | 0.0017% A$110.2k | |
| Non Executive Director | 1.92yrs | AU$221.98k | 0.0025% A$165.4k |
5.5yrs
Average Tenure
63.5yo
Average Age
Experienced Board: SGP's board of directors are considered experienced (5.5 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: SGP insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
Company Information
Stockland's company bio, employee growth, exchange listings and data sources
Key Information
- Name: Stockland
- Ticker: SGP
- Exchange: ASX
- Founded: 1952
- Industry: Diversified REITs
- Sector: Real Estate
- Market Cap: AU$6.562b
- Shares outstanding: 2.38b
- Website: https://www.stockland.com.au
Number of Employees
Location
- Stockland
- 133 Castlereagh Street
- Level 25
- Sydney
- New South Wales
- 2000
- Australia
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| SGP | ASX (Australian Securities Exchange) | Yes | Stapled Securities | AU | AUD | Jan 1992 |
| STKA.F | OTCPK (Pink Sheets LLC) | Yes | Stapled Securities | US | USD | Jan 1992 |
| LN1 | DB (Deutsche Boerse AG) | Yes | Stapled Securities | DE | EUR | Jan 1992 |
| SGP | CHIA (Chi-X Australia) | Yes | Stapled Securities | AU | AUD | Jan 1992 |
Biography
Stockland (ASX: SGP) was founded in 1952 and has grown to become one of Australia’s largest diversified property groups – owning, developing and managing a large portfolio of shopping centres, residential communities, workplace and logistic assets and retirement living villages. Stockland has been rated as one of the most sustainable real estate companies in the world for the last five years by the Dow Jones Sustainability World Index (DJSI). Stockland is also an Employer of Choice for Gender Equality, as recognised by the Workplace Gender Equality Agency.
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/04/09 10:41 |
| End of Day Share Price | 2020/04/09 00:00 |
| Earnings | 2019/12/31 |
| Annual Earnings | 2019/06/30 |
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.