Stockland (ASX:SGP) has announced that its annual funds from operations will be at the top of its previous guidance range of 5 to 6.5 per cent.
The property development company says the positive figures reflect growth in Stockland’s market-leading residential business.
Around 6400 settlements have been completed in the year to June 2018.
Stockland has reaffirmed the estimated distribution for the six month period to 13 and a half cents per ordinary stapled security.
Shares in Stockland (ASX:SGP) closed flat at $4.02 yesterday.