Our ALGO engine triggered a buy signal for Stockland Corporation at $4.28.
Like several of the ASX interest-rate sensitive names, the SGP share price has dropped more 10% over the last month.
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With over $16 billion in real estate assets across the country, SGP is Australia’s largest residential property developer.
We believe that the company’s diversified community development model will insulate the firm from a downturn in the higher-end property market and support a higher share price.
The technical “higher low” pattern is based on the July lows near $4.00. With a year-on-year dividend expected in the 26 cent range, this puts the stock yield at around 5.5% at current prices.
Stockland
