Stockland (ASX:SGP) raised its funds from operations (FFO) guidance for the fiscal year ending June 30, 2025, to a range of AU$0.33 to AU$0.34 per security from the previous guidance of AU$0.32 to AU$0.33, according to a Monday filing with the Australian bourse.
Distribution per security during the fiscal year is expected to fall within the payout range of 75% to 85% of the full-year FFO, the filing said.
The uplift was made after obtaining all necessary regulatory approvals to acquire 12 residential master-planned communities in partnership with Supalai Australia Holdings from Lendlease Group (ASX:LLC) for AU$1.06 billion.
In a separate bourse filing, Lendlease said the deal secured clearance from the Foreign Investment Review Board, with completion slated for the fiscal second quarter.
Stockland's shares were up almost 2% in recent Monday trade.
Price (AUD): $5.12, Change: $+0.08, Percent Change: +1.59%
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