Stockland Corporation Ltd (ASX: SGP) confirmed in an ASX announcement today that it expects to meet the upper end of its earnings guidance.
The company tightened its FY 2018 expected Funds From Operations (FFO) growth to 6.5% from the previous guidance which had a lower range of 5% – 6.5%.
According to the announcement, this reflects continued growth in the company's residential business with "approximately 6,400 settlements completed" in FY 2018.
Stockland shares were up 2.74% following the announcement.
Stockland, along with Mirvac Group (ASX: MGR) and Lendlease Group (ASX: LLC), has exposure to the housing market and some brokers have highlighted the potential impact that tighter lending standards might have on their business.
Despite the positive announcement, Stockland is not top of our buy list. Our team of experts have identified these shares as the best shares to buy right now.
