CANBERA (dpa-AFX) - Stockland Corp. Ltd. (SGP.AX, STKAF.PK), an Australian
property company, reported Monday that its third-quarter commercial property
portfolio delivered strong operational metrics.

Leasing spreads were 42.0 percent for Logistics and 3.5 percent for Town
Centres.

Essentials-based Town Centre portfolio's comparable total sales growth was 3.4
percent and comparable specialty sales growth was 1.3 percent on an MAT basis.

Masterplanned Communities or MPC net sales were 1,242 lots, reflecting continued
improvement in sales over the last four quarters.

Looking ahead for fiscal 2024, the company continues to expect pre-tax funds
from operations or FFO per security at 34.5 to 35.5 cents, with tax expense
expected to be a high single-digit percentage of pre-tax FFO6.

Distribution per security is expected to be within Stockland's targeted payout
ratio of 75 to 85 percent of post-tax FFO.

The company noted that current market conditions remain uncertain.

Managing Director and Chief Executive Officer, Tarun Gupta said, 'Over 3Q24,
Stockland has delivered strong operational performance, while continuing to
execute against our strategic priorities.'

In Australia, Stockland shares traded at A$4.43, up 2.19 percent.



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