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Stockland (SGP) $4.21

SGP is perfectly positioned for the next government’s efforts to create/deliver affordable housing, so far the first home buyer scheme is arguably just going to push prices higher defeating the original goal in the process. Increasing supply makes more sense especially as borders reopen and demand is likely to escalate and this is where SGP can step up as the company focuses on higher growth opportunities, the stocks fairly cheap trading on 12x Est. 2022 earnings and a 6% unfranked yield is still attractive in today’s environment, even as rates increase.

Mirvac should theoretically also be well-positioned but at this stage the stocks in the markets “naughty corner” and probably easier to avoid.

MM likes SGP around $4.20
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Stockland (SGP)
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