Stockland is in multiple asset classes, both commercial and residential. They are not a pure shopping centre owner and have only 38 centres worth about $4bn. The remainder of their assets under management like office, community centres and apartments total in excess of $25bn.
It's difficult to use them as a proxy for a pure shopping centre owner like Centro but for me, the key here is:
"Stockland's retail property business lifted its operating profit to $260 million for the year."
"Active asset management and low occupancy costs should enable us to deliver further operational upside despite the recent slowdown in consumer spending" Mr Quinn said.
..plus the other comments from the company regarding supply and predictions for future demand on the Australian retail portfolio.
CNP Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
