The Stockland (ASX:SGP) share price hit a new 52-week high today

It's been a good day for the housing developer, with its shares reaching the highest they have been for 12 months. Here are the details

| More on:
Family celebrates buying new house

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

sdf

A bump to the Stockland Corporation Ltd (ASX: SGP) share price saw it hit a new 52-week high today. Earlier this afternoon, shares in the housing developer were trading for $4.93 – the highest they've been in 12 months.

The Stockland share price fell slightly to end the day at $4.87, which is still 2.31% higher than its closing price yesterday.

Stockland shares did extremely well today when compared to the broader market. At close of trade, the S&P/ASX 200 Index (ASX: XJO) was up 0.45% today, while the All Ordinaries Index (ASX: XAO) gained 0.52%.

The gains came despite Stockland not releasing any news to the market today. However, it did announce exciting news of its upcoming dividend on Tuesday.

Let's take a look Stockland's latest news.

What's been happening at Stockland?

Earlier this week Stockland announced it will be passing on its biggest dividend in 2 years to shareholders.

The half-year dividend, to be paid to shareholders for the 6 months ended 30 June 2021, will be 13.3 cents. That's higher than the 10.6 cents it paid out to its shareholders in 2020. Although, it's less than the 14.1 cents Stockland handed out in 2019.

Investors who hold Stockland shares as of 30 June will receive a payment from the company on 31 August.

The company also stated its full-year dividend will be 24.6 cents ­– in line with the company's previous guidance. However, Stockland doesn't pay franking credits on its dividends.

When Stockland announced its dividend on Tuesday, its share price was $4.80.

That left the company with a 5.2% yield – a pretty good return considering Australia is currently seeing record low interest rates.  

Stockland share price snapshot

Today's gains have added to a good year on the ASX for Stockland shares.

Currently, the Stockland share price is 14% higher than it was at the beginning of 2021. It has also gained 41% since this time last year.

The company has a market capitalisation of around $11 billion, with approximately 2 billion shares outstanding

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. 

The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Real Estate Shares

5 mini houses on a pile of coins.
Real Estate Shares

The advantages of ASX ETFs for real estate investing

Australian residential real estate has become increasingly unaffordable.

Read more »

A male investor sits at his desk looking at his laptop screen holding his hand to his chin pondering whether to buy Macquarie shares
Real Estate Shares

The $67 billion ASX 200 stock 'still trading at a discount'

A leading expert recommends buying the dip on this $67 billion ASX 200 company.

Read more »

Business people discussing project on digital tablet.
Real Estate Shares

Goodman share price higher on Q3 update

Let's see how this industrial property giant performed during the third quarter.

Read more »

Big red real estate for sale sign in front of property
Real Estate Shares

It's one of the best businesses on the ASX, but are REA Group shares a buy today?

REA Group is up nearly 160% over the past 5 years.

Read more »

Magnifying glass in front of an open newspaper with paper houses.
Real Estate Shares

5 ASX stocks making Macquarie's top picks in the listed property sector

Macquarie expects the future is looking brighter for these ASX real estate stocks. But why?

Read more »

ASX 200 shares broker downgrade origami paper fortune teller with buy hold sell and dollar sign options
REITs

Is the ASX Charter Hall Retail REIT a buy, hold, or sell, according to Macquarie?

The top broker has just released a new note about this popular ASX real estate investment trust.

Read more »

Buy, hold, and sell ratings written on signs on a wooden pole.
Real Estate Shares

After its result, does Macquarie have a buy, hold or sell rating on REA Group shares?

REA Group shares are down 4% since Friday’s earnings results. Should I buy the dip right now?

Read more »

Two laughing young women hold shopping bags and ride an escalator up to another level in a Scentre Group shopping centre.
Real Estate Shares

Are Scentre Group shares a buy after today's operating update?

The ASX 200 company has made progress on several key metrics.

Read more »