# SGP - Stockland Group



## Kruegs (29 July 2007)

Hi there,

I have been observing Stockland Group, and its weakening price in recent weeks, which has only been further weakened following the 'correction' of last week. 
I would have thought that with Stockland having a property portfolio in Australia/NZ, that the strengthening of the $A would have enhanced its share price.  Additionally, seeing that Stockland is dealing in Australian property (not US), which is still fairly robust according to most, it would have been insulated from the recent downturn and 'credit' issues in the US.  Any thoughts on this?  Has Stockland been potentially oversold, or am I missing some fundamental issues.  I am only fairly new to trading, so welcome anybody else's views on the stock. 

Thanks,
Kruegs


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## dlineinvestor (30 July 2007)

Hello Kruegs,
SGP has been a laggard stock recently and as a general rule I would focus on the strongest stock in the index your looking at, regardless of current market conditions.


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## 2BAD4U (14 January 2008)

I like Stockland and have held them for a few years but I'm a bit miffed by what's happening to them at the moment.  It looked like they survived the initial "sub prime" crisis, then they seemed to survive the Centro issue,
but they have taken a battering lately hitting a new 16 month low today.

I must admit I did take some profits and reduce my holdings at the $9 mark and wonder if others have done the same or if people are worried about interest rates, sub prime, etc., affecting SGP's earnings. I am considering topping up again at these prices but will wait until we see some slowing in the decline.


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## Aviator33 (21 February 2008)

Well someone likes this stock today. All afternoon there has been a buyer popping in every minute or so, as soon as the sp starts to slip the order goes in for a size of 1860 or 1859, time and time again. As soon as she slips a bit, there he is again. Will check the figures at the end of the day but it's definitely a sizeable position someone is building up......

Cheers
AV


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## Aviator33 (21 February 2008)

Hmmm, looks like it's been happening for awhile. Only been back to last week but in that time our mysterious "1860" man (or woman) has picked up over 1 million shares. Someone obviously thinks it's a bargain. 

Cheers
AV


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## drsmith (11 February 2009)

In today's 6 monthly report releases is there a breakdown of trust earnings and corporation profit somewhere.

I want to get some idea of the level of distribution after this year.


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## kenny (12 August 2009)

Latest results out for SGP;

http://www.abc.net.au/news/stories/2009/08/12/2653424.htm?section=justin

A case of clearing the decks for outperformance later in FY11 perhaps? The NTA is still around $3.61 according to the recent presentation.

Regards,

Kenny


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## noie (2 August 2010)

Stockland today made a proposal for Aevum Limited retirement living operator, hence the hike, if successful, would almost double the size of Stockland’s
Retirement Living business.

Seems Stockland had 266 million in Cash siting there and wanted to double their size..


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## enigmatic (20 May 2011)

I've been following a few Realestate shares, and have noticed they are all trading at about 11-13PE which i can understand as everyone is still concerned about the value in housing however i have noticed SGP hasn't really moved over the last 18months although they do have a good dividend.

I'm looking at both WDC/WRT and GMG for possible exposure to Realestate and i find that SGP has a great model focussing on our aging population.

they seem to have good growth expectations and decent roughly 6% dividend.
Does anyone have any suggestions as to why they do not value higher especially with the ex-Dividend date for stockland coming up in a month or so.


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## skc (20 May 2011)

enigmatic said:


> I've been following a few Realestate shares, and have noticed they are all trading at about 11-13PE which i can understand as everyone is still concerned about the value in housing however i have noticed SGP hasn't really moved over the last 18months although they do have a good dividend.
> 
> I'm looking at both WDC/WRT and GMG for possible exposure to Realestate and i find that SGP has a great model focussing on our aging population.
> 
> ...




Higher compared to what? Other listed realestate companies? On yield and price/NTA measures Stockland is probably on the cheap side... BTW aged cared is only a small part of their total earnings. 

Code | Div Yield | Price / NTA
SGP          |  6.51%             | 0.96
MGR          |  6.32%             | 0.80
WDC          |  5.26%             | 1.27
GMG           | 4.59%             | 1.54
DXS           | 5.73%              | 0.90
GPT           | 5.48%              | 0.86

To me listed realestates actually represent better return than direct real estate at this moment... but you can't get the leverage with margin calls when it comes to realestate shares.

You can also take a look at SLF which in an exchange traded fund that gives you exposure to the whole sector (in exchange of some management fee). There is a thread on that here somewhere.


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## So_Cynical (20 May 2011)

enigmatic said:


> I've been following a few Realestate shares, and have noticed they are all trading at about 11-13PE which i can understand as everyone is still concerned about the value in housing however i have noticed SGP hasn't really moved over the last 18months although they do have a good dividend.
> 
> I'm looking at both WDC/WRT and GMG for possible exposure to Realestate and i find that SGP has a great model focussing on our aging population.
> 
> ...




All the Real estate stocks are going sideways...have been for a long time now, occasionally one will run a littler higher (like DXS is ATM) and others will dip down like SGP is/has and CFX did just the other week....im Low Cost Averaging into DXS, CFX and ALZ...and considering buying some SGP for my super fund.


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## nulla nulla (21 May 2011)

The thread has been arround since 2007 but from the number of posts to date (11 not including this one, 2 in 2007, 3 in 2008, 2 in 2009, 1 in 2010 and 3 in 2011) it would appear that the share flies under most peoples radar.

I have had SGP on a REIT watchlist for some time but have not been encouraged to trade it as the price movement has been too gradual and daily volumes (imo) too low. 

It is capable of rising above $4.00 and holding there, so at the current price it has appeal as a sit and wait option taking advantage of the yield.  My main concern is that in a sector where most of the shares are trading a significant discount to NTA SGP is trading at close to full nta and at $4.00 is at a premium to nta. The other shares in the sector have more scope for capital gain as they close the gap between price and nta.


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## skc (21 May 2011)

nulla nulla said:


> The thread has been arround since 2007 but from the number of posts to date (11 not including this one, 2 in 2007, 3 in 2008, 2 in 2009, 1 in 2010 and 3 in 2011) it would appear that the share flies under most peoples radar.
> 
> I have had SGP on a REIT watchlist for some time but have not been encouraged to trade it as the price movement has been too gradual and daily volumes (imo) too low.
> 
> It is capable of rising above $4.00 and holding there, so at the current price it has appeal as a sit and wait option taking advantage of the yield.  My main concern is that in a sector where most of the shares are trading a significant discount to NTA SGP is trading at close to full nta and at $4.00 is at a premium to nta. The other shares in the sector have more scope for capital gain as they close the gap between price and nta.




It's a $8.5B company with $23m daily turnover... I wouldn't say it's under the radar?!

Price/NTA can be higher for SGP vs a plain property-holding REIT because of development income. That's why WDC and GMG can trade above NTA while CPA and CFX only trades below...


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## nulla nulla (21 May 2011)

nulla nulla said:


> The thread has been arround since 2007 but from the number of posts to date (11 not including this one, 2 in 2007, 3 in 2008, 2 in 2009, 1 in 2010 and 3 in 2011) it would appear that the share flies under most peoples radar.






skc said:


> It's a $8.5B company with $23m daily turnover... I wouldn't say it's under the radar?!...




Given it's size and strength I made the observation that SGP receives very little attention in this forum and in my observation...."from the number of posts to date (11 not including this one, 2 in 2007, 3 in 2008, 2 in 2009, 1 in 2010 and 3 in 2011) it would appear that the share flies under most peoples radar".

I didn't knock the share, I didn't disparage any one elses posts and I'm not trolling for an argument.


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## enigmatic (22 May 2011)

I don't want to make it sound like i haven't or have not currently got exposure to Realestate Shares. I held SGP for some time and had no luck so sold out at $3.77 so the drop to 3.50 has raised my interest again

I was hoping for exposure in Realestate again due to the high dividend return as my original exposure was for dividends and the growth possiblies that SGP have.

from what i continually read they all seem good shares however Debt and current Realestate market seems to be holding some back.

I too have been considering trading SGP nulla nulla due to its movements between 3.5 to 3.8 seem to be much better then holding long term. however i have yet to make that plunge.

The interest in SGP on ASF i wouldn't of thought is uncommon there seems to be alot less discussion about Blue chips on ASF.

DYOR


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## nulla nulla (22 May 2011)

enigmatic said:


> I don't want to make it sound like i haven't or have not currently got exposure to Realestate Shares. I held SGP for some time and had no luck so sold out at $3.77 so the drop to 3.50 has raised my interest again
> 
> I was hoping for exposure in Realestate again due to the high dividend return as my original exposure was for dividends and the growth possiblies that SGP have.
> 
> ...




Like most Australian REIT's sgp appears to have tracked down as the aud$ climbed. Previously I saw the low $3.50's as an entry point but I was hesitant to jump in at $3.51 recently as most of my capital was already committed and I have reservations about where the whole market is at the moment. I am wary of a correction and don't want to be caught, so I am trading more conservatively/cautiously atm.
I agree the recent spread of $3.50 - $3.80 as a short term trade is tempting, I'm just not sure it is tempting enough for me right now.

The chart looks good but the dip below $3.50 is a new low for the last 18 months.


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## So_Cynical (22 May 2011)

nulla nulla said:


> Like most Australian REIT's sgp appears to have tracked down as the aud$ climbed. Previously I saw the low $3.50's as an entry point but I was hesitant to jump in at $3.51 recently as most of my capital was already committed and I have reservations about where the whole market is at the moment. I am wary of a correction and don't want to be caught, so I am trading more conservatively/cautiously atm.
> I agree the recent spread of $3.50 - $3.80 as a short term trade is tempting, I'm just not sure it is tempting enough for me right now.
> 
> The chart looks good but the dip below $3.50 is a new low for the last 18 months.




I'm going to buy some SGP for my super fund, i figure this SP substantial low is an opportunity that i just cant pass up....Retail, Residential build and Retirement is a great set of exposures to get in one stock.

Sure there are potential negatives ahead with residential and retail weakness but its a certainty that there will be a turn around for both industry's at some point in time and that there will always be a core demand for both, the growth in retirement is a total no brainer. 

Dividend coming up is a bonus.


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## nulla nulla (27 May 2011)

So_Cynical said:


> I'm going to buy some SGP for my super fund, i figure this SP substantial low is an opportunity that i just cant pass up....Retail, Residential build and Retirement is a great set of exposures to get in one stock.
> 
> Sure there are potential negatives ahead with residential and retail weakness but its a certainty that there will be a turn around for both industry's at some point in time and that there will always be a core demand for both, the growth in retirement is a total no brainer.
> 
> Dividend coming up is a bonus.




Did you get on or elect to wait for the better dividend ratio's from the likes of Dexus, CPA and/or MAP? 

imo sgp seems to be struggling atm. As always dyor.


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## So_Cynical (27 May 2011)

nulla nulla said:


> Did you get on or elect to wait for the better dividend ratio's from the likes of Dexus, CPA and/or MAP?
> 
> imo sgp seems to be struggling atm. As always dyor.




Yep got 2070 shares on Monday and in a week or so ill find put how much they cost me  i can see no realistic reason why the SP will stay this low for any significant length of time...SGP is just another big real estate stock and we have both been successfully trading the property stocks in this sideways market for a long time now.

Happy to hold till SGP comes good.


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## nulla nulla (23 June 2011)

Recent lows have been lower and the highs lower as well. Hitting $3.35 interday on June 6th was a new low but market support seems to have rallied and pushed it back up. Certainly worth keeping on the watchlist atm.


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## nulla nulla (1 July 2011)

$3.35 seems to be a recurring theme for SGP lately. Maybe it is trying to tell me something, maybe not. However it is worth noting that at this level (exdiv) it has come back to the rest of the REIT field in respect of discount to NTA and yield above 6%.





As always DYOR.


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## nulla nulla (7 July 2011)

From an interday high of $3.89 on 8th April 2011, SGP has slid to close today at $3.31 having tapped $3.27 in interday trading yesterday. SGP used to trade at a premium to nta but today was trading at 9% discount to nta with a yield of more than 7%.

Having shopping centres make up a strong part of the property portfolio means the drop off in the retail sector impacts on SGP. This slide is also replicated in Westfields.

Question is now, can it go lower?


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## nulla nulla (13 July 2011)

And the answer is YES. It can go lower than $3.27. In fact yesterday the share price dropped to $3.12 and today it ranged between $3.14 and $3.18. Retail and Residential appear to be dragging it down to new lows. 

Curse Australians for paying off their credit cards and not spending. Don't they realise they have to spend for money to go arround and stimulate the economy?


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## Liar's Poker (14 July 2011)

nulla nulla said:


> And the answer is YES. It can go lower than $3.27. In fact yesterday the share price dropped to $3.12 and today it ranged between $3.14 and $3.18. Retail and Residential appear to be dragging it down to new lows.
> 
> Curse Australians for paying off their credit cards and not spending. Don't they realise they have to spend for money to go arround and stimulate the economy?




Probably worth considering the flight to online shopping as well. I don't believe we will ever see the death of the shopping centre, as they have become a more than just a place to shop in our culture. It's a place to meet, spend time, see events, express yourself, etc... Although, I do think it will effect retail outlets bottom line and ability to pay rent, so I imagine retail rental growth may slow.

SGP's assets are decent quality and they have diversified into other property sectors, so hopefully they are shielded somewhat from a poor retail environment more than others.


-Liar-


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## So_Cynical (14 July 2011)

nulla nulla said:


> And the answer is YES. It can go lower than $3.27. In fact yesterday the share price dropped to $3.12 and today it ranged between $3.14 and $3.18. Retail and Residential appear to be dragging it down to new lows.




My super fund account will be taking a little average down on Monday...retail wont die however rents will fall a little if not stagnate for a while.


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## nulla nulla (15 July 2011)

The profit warnnig from David Jones not only impacted on the David Jones share price but rippled through the retail sector and dragged in Westfileds and SGP. Looks retail is going to be down for some time until the overall mood in the community is a bit more confident.

Notwithstanding SGP has a high residential component with good occupancy as well as the retirement component, which they have just added too. imo sgp is probably one of those Ta/Fa shares a long term buyer and holder could do turn out allright with. 

The scope for panic falls from here must be signifcantly reduced given the yield improvement with each fall and the widened gap from share price to nta. Further discounts to nta would likely start to attract the overseas hedge funds to soak up a significant holding.


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## nulla nulla (23 July 2011)

SGP may have found a support level at $3.10. Yield, P/E, Discount to NTA are probably at their most attractive levels since the gfc. Hopefully sgp gets the sale of the industrial assets away without hiccup further improving their prospects. 




All they need now is for improved consumer confidence and spending to boost the retail sector.


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## Liar's Poker (23 July 2011)

Along with SGP, it is probably worth checking the attractiveness of SLF, which tracks the index of the property sector. Although only made up of 16 companies with a few being the vast majority (Westfield and SGP), it has taken a considerable hit over the last few weeks, now at $7.51.

-Liar-


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## nulla nulla (29 July 2011)

I missed the first opportunity to jump into sgp at $3.04 before it jumped back up to $3.15, however the combination of the U.S debt ceiling problem along with the sgp exposure to retail through the shopping centres saw the price drift back down to todays close at $3.05.




There is also the matter of sgp selling some industrial assets into an ipo which appears to have gone quiet, in the media at least. Might get cheaper still before it starts to climb back against its' nta value.


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## skc (10 August 2011)

Poor SGP. Can't even get a break on a day the market goes up 100 points.

I thought the profits weren't bad... the market first liked it then decided to hate it.

Perhaps the market is not happy with the outlook that next year EBIT will be the same as this year.

But at PE<10 no one is expecting them to grow in double figures  

Closed my short yesterday to avoid the profit-announcement price spike. I guess I was right for the opening 10 minutes.


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## nulla nulla (10 August 2011)

skc said:


> Poor SGP. Can't even get a break on a day the market goes up 100 points.
> 
> I thought the profits weren't bad... the market first liked it then decided to hate it.
> 
> ...




Here I was worried that you had gone long. I was fortunate not to jump into sgp at $3.04. I jumped into gpt instead at $2.92 and I am currently down $0.22.

I thought the report was good, realistic comments in respect of retail however I was concerned their A grade office portfolio wasn't contributing more. Never the less, at current share prices the return is good and the prospects for next year "more of the same" is also good. 

If I can raise/squirell some extra dosh I would be taking a trade parcel on at these prices. As always DYOR.


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## skc (10 August 2011)

nulla nulla said:


> Here I was worried that you had gone long. I was fortunate not to jump into sgp at $3.04. I jumped into gpt instead at $2.92 and I am currently down $0.22.
> 
> I thought the report was good, realistic comments in respect of retail however I was concerned their A grade office portfolio wasn't contributing more. Never the less, at current share prices the return is good and the prospects for next year "more of the same" is also good.
> 
> If I can raise/squirell some extra dosh I would be taking a trade parcel on at these prices. As always DYOR.




People don't seem to like realistic comments these days. Things need to be rosy, positive and optimistic. Whatever happened to good old under-promise over-deliver.

I probably would have gone long for a day trade if I had time to read the presentation and watch it open. I would have thought today's strength would have been enough to jolt it back towards above $2.90.

The short was just part of a pairs trade so little to do with the absolute price of SGP itself.


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## nulla nulla (20 August 2011)

In September 2009 SGP reached a peak of $4.15. Just over a week ago the share price tapped a low of $2.52, near enough a drop of 40%.  This share was considered the premium stock in the Australian REIT sector. 




Last week the board announced, among otherthings, that they would commence a buy back of 5% of issued shares as a means of improving share holder equity and value in SGP.   

As at close on Friday at $2.79 sgp is trading at a discount of 23.6% to NTA of $3.65,  earnings are $0.317 cps equates to a price earnings ratio of 8.8 times, and distribution of $0.237 per share equates to a yield of 8.49%. Of course these figures were even better when the share price tapped $2.52. 

With the buy back of 5% of the issued shares, the above figures will also improve. Maybe this will help put some stability in the share price and offset some of the irrational selling.


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## nulla nulla (2 September 2011)

Stockland rallied through the week to touch $3.06. Nice recovery from the recent sold down lows. Now all it needs to do is continue the climb back to the $3.50+ levels.


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## nulla nulla (28 September 2011)

The global market went into reverse and sgp went south with it. The last few days have been optimistic and sgp is now testing the upper levels of the downward channel. If it can break through and hold above $3.05 it may....may... head back to the $3.50+ levels. This is not unrealistic when you consider the present discount to nta, current yield levels and the share buy-back program.




Otherwise it may falter and retest the bottom of the channel finding new lows. Fortunately this is one roller coaster I am not currently riding. Lately it is like being in a lolly shop. You can see all these sweet opportunities but don't have enough dosh to buy them all.


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## ep20072008 (6 October 2011)

I have been watching this stock this week. Tossing around between DJS and SGP. I agree with you if SGP could break the upper channel, then next target price would be AUD3.5 but seems this one is just a slow runner.


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## nulla nulla (6 October 2011)

SGP hit a recent interday high of $3.10 on September 1, 2011. Since then it has continued to move sideways and downward.  However the last three days has seen sgp rally and once again it is trying to break out of the downward channel. If it can claw above $3.05 and hold, maybe......the next target would be the high of 21 July 2011 at $3.21.


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## nulla nulla (5 November 2011)

The sgp share price appears to have shrugged off the negative sentiment recently attached to retail outlet landlords and has broken out of the downward channel. The share price now appears to be recovering northward, testing the former resistance levels of $3.21. The next resistance level to break above (and hopefully hold) is $3.33 followed by $3.41. 




Still trading at a discount to NTA, the share buy back is being seen as a good means of returning surplus capital to shareholders and helping narrow the gap between the share price and the NTA. Meanwhile the general market volitility continues to impact on sgp and provide opportunities for short term gains.


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## nulla nulla (16 December 2011)

Ticking all the right boxes SGP appears to have kicked off the market concerns about retail outlets being at risk due to rental returns under threat from low retail sales. Selling off non core property (to dexus) for a profit to June 30 valuations and talking about an on market buy back, SGP appears to be focused on improving shareholder value and probably long term returns. SGP has always been one of the better reit shares, often trading at nta or a premium to nta where the rest were trading at discounts to nta. SGP appears headed toward restoring their reputation as a "must have" reit.




The recovery curve appears to be in acceleration mode and the next resistance level appears to be arround $3.50. My only caution would be that the rapid rate of recovery is not unlike an exuberant spike and if it falters, the fall could be equaly as quick.


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## nulla nulla (21 January 2012)

Since the last post it looks like the sgp market lifted their foot of the accelerator and the share price dipped back to the lower channel line. Rebounding from $3.20 sgp appears to be finding resistance at the $3.42 mark.




All reit's took a hit on Thursday/Friday this week, so it will be interesting to see whether sgp can rally from the $3.30 area or whether it will get pushed back toward $3.20 support levels.


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## nulla nulla (14 April 2012)

SGP hit an interday high of $3.54 on 8 December 2011 then drifted down. SGP looked like it was going to break out upward again through $3.20 arround 22 March but the media release on 27 March 2012 in respect of the deteriation in their revenue forecast saw an immediate sell down.

Despite the assurance that the impact on the bottom line was minimal and there would be no reduction in the forthcomming dividend, the share price fell to a low of $2.91.

It is worth noting that at $2.91 sgp is trading at a discount of 21% to the nta of $3.69, further the yearly dividend confirmed at $0.24 represents a yield of 8.25%. The revised earnings forecast of $0.305 per share means the price earnings multiple is only 9.54 times compared with a market norm of arround 12.  All-in-all the share appears to be undervalued even at the Friday close of $2.99.





The forthcomming dividend (End of May payable in August) plus the potential upside of capital gain on a rebound to the $3.10 - $3.21+ area had enough appeal for me to enter. Then again I may be wrong, sgp has tested the $2.70 range before. Also I may be biased as I chose sgp for this months stock tipping competition. As always dyor .


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## notting (14 April 2012)

If long, you would, however, want 3.00 not to be forming new upside resistance and encouraging another leg down where even better value may eventuate during the April/May excitement!!


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## nulla nulla (14 April 2012)

$3.00 does seem to be a current/recent level of resistance but I thought the kick above $2.94 was fairly strong. I suspect $3.05 (a previous support level) will be the next level of resistance and then hopefully $3.16.  Of course if it doesn't kick up to $3.05, then $2.91 and lower awaits.


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## nulla nulla (5 May 2012)

Stockland kicked back nicely to hit $3.32 on intraday trading on Thursday this week then dropped back to close at $3.22 on Friday.   Hopefully the area $3.19-$3.21 will be a new support level having previously been a resistance level.

SGP is still trading at a hefty discount to NTA and has one off the lowest p/e ratios of all the reits. Recent announcements of earnings down grades were offset somewhat with the latest interest rate cut of 50 points by the RBA, improving the prospects of sgp returning to the $3.42 levels of January this year, rather than retreating to the low $3.00 area.




IMO, the rate cut and the confirmation that sgp will still be paying approximately $0.12 distribution for June makes sgp worth running your ruler over. As always do your own research.


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## nulla nulla (13 May 2012)

The share price dip back to $3.16-$3.17 through the week, on international instability, was too good to pass up in my opinion and I jumped in for two more parcels. The rebound to close on $3.24 at the end of the week bodes well for next week in the lead up to the dividend announcement.




It would not surprise me to see sgp retest the $3.30 level in the short term and the $3.42 level soon after. It will be interesting to see how many super funds decide to reweight their portfolios before June 30 and decide sgp should be included (particularly with the $0.12 distribution on offer).

As always , do your own research.


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## nulla nulla (18 May 2012)

Interesting week. The chart says it all. Bounced back up to $3.35 then finished the week in the big sell off at $3.16 (after touching $3.14 interday).




Amazing trade oportunitites if you are getting in on the lows and out on the highs (or somewhere inbetween in my case) but in this euro demolition charged environment there is always an element of risk that at some point the entry you take may prove to be one you should have avoided.

The yield, p/e, discount to nta and the relative strength of sgp make these levels fairly attractive to me (opportunity for a sit and hold for the distribution of $0.12 ex-div in June, combined with the potential to recover to somewhere between $3.21 and $3.42+).

There is always an element of risk. The downside of sgp is the Housing industry problems (St Hilliers anyone?), falling property prices and the two speed economy feeling the impact of tightened spending v's savings. Meanwhile sgp is cutting costs, cutting staff and focusing on the buyback, improving shareholder returns and value.

Upside v's downside, do your research. IMO sgp has one of the lowest p/e ratio's, one of the better yields and also a proven, focused management. Good luck


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## nulla nulla (8 June 2012)

I would like to thank every body that bought sgp during may. As a result of their hard work my stock tipping entry held second place at end of trade on 31/5/2012 (one of only two shares in the competiton in profit for the month) and Joe has very kindly forwarded $50.00 to me  . 

Like nearly every other share in the ASX, sgp has been bouncing arround providing plenty of entry/exit opportunities. Yesterday we were looking to unload at $3.27 the parcel purchased last month at $3.20. Despite the volume and demand, the share price couldn't get through $3.26. Accordingly we were very surprised and pleased when sgp opened at $3.28 today and our parcel was sold. 




With the subsequent slide we are now looking for a re-entry. DYOR & good luck.


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## nulla nulla (16 June 2012)

Another week and another trade, back in at $3.20 and out at $3.26. There appears to be some support at $3.20, possibly underwritten by the forthcoming distribution (Due to go ex entitlement on or about Monday 25/6/12) which hasn't been announced yet but probably will be on Monday 17th.




Resistance appears to be around the $3.27 level. I suspect there may be another small lift when the distribution is announced but don't hold me to it. I find it difficult to believe that the distribution of $0.12 is already factored into the share price at $3.20? As always d.y.o. research and good luck.


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## blue0810 (16 June 2012)

Interesting  to  see SGP  in green :
https://www.aussiestockforums.com/competition/


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## nulla nulla (16 June 2012)

blue0810 said:


> Interesting  to  see SGP  in green :
> https://www.aussiestockforums.com/competition/




Has been in the green for the last three months, since it bounced off $2.91. Climbed back to around $3.29 then oscillated between $3.14 and $3.28. Nice daily spread, fair volumes and currently under-written by an impending distribution announcement. 

Will probably drop by the distribution amount when it goes ex-div before the end of this month and retreat to the $3.08 - $3.16 area for a bit?


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## nulla nulla (23 June 2012)

A great week for SGP. Monday saw the share price open at $3.24, drop to $3.20, rise to $3.30 then close on $3.28. A $0.10 spread through the day for confident day traders. SGP maintained this sort of action through the week shrugging off all the negative market news (including the worst housing starts report in NSW since 1946) and hit a high for the week of $3.33. before closing out on Friday at $3.29.




On Monday 25/6/2012 I believe sgp goes ex-div and I expect the share price to drop by the distribution expectation of $0.12, if not a little more. Based on last weeks activity sgp could drop to the range $3.08-$3.17. It will be interesting to see if the recent levels of support (volumes) is maintained or if there is a cooling off after going ex-div.


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## nulla nulla (30 June 2012)

The fall, after going ex-div, was pretty much in line with expectations, however it was surprising that sgp did not rally and hold along with the other reit shares Wednesday to Thursday. The fall to $3.06 was more than I anticipated and although it retested $3.17 the drop back to close on $3.09 was disappointing.




I will be looking for sgp to rebound from here to the $3.20+ area, however a testing of the $3.05 support area is also on the cards. If it doesn't find support at the $3.05 point then the next support level is arround the $3.00 mark. Bit of an oversell imo. Usually this share ranks higher than gpt but the relationship appears to heve been inverted this week. As always d.y.o.r, all care no responsibility etc.


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## nulla nulla (7 July 2012)

A rebound to $3.17 - $3.18 was completely washed away with the crash back to $3.11-$3.12 on thursday followed by a further slump to the close of $3.09 on Friday. The volumes of turnover were nothing to get excited about. It had the appearance of drifting down on low volumes with the buyers comming in at the lower end of the trading (to accumulate?).




An interesting pennant appears to be forming. The two year chart shows a share price slide from the highs of 2010 where sgp traded at a premium to the nta, to the current discount to nta. The more recent trading (for the last 11 months) shows sgp trying to rally. It appears that sgp is reaching a point where it will break out from the pennant but who is game to call it upward or further down?   Personally I believe it is overdue for a bounce back to the $3.40 area but I will sell quick enough if it looks like tracking back down the the lows of $2.91. If it retests the lows of last August I will re mortgage the house and buy a truckload. As always D.Y.O.R and good luck.


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## nulla nulla (14 July 2012)

SGP opened on Monday at $3.07, down a further two (2) cents on the close off of Friday 6/7/12. There was weak support during the day which improved on Tuesday with the share price recovering to $3.13. On Wednesday the initial trading was slow and sgp did not look like going anywhere, then it suddenly took off. Buyers came out of the wood work and volumes jumped. It look like it was the must have reit share of the day. I couldn't find any news that was driving the price up, particulalry in the last half hour. In the closing auction SGP dropped back from $3.18 to close the day on $3.16. 




On Thursday SGP opened strongly and we let some parcels go that we had picked up in the previous weeks sell down (Thursday/Friday). I immeadiately put some low ball bids back in the buy queue and was stunned when they got filled late in the day. The Thursady sell down being a complete reversal of Wednesdays buy up, sgp closed on $3.09, down $0.07 (2%) in one day. On Friday, SGP jumped to $3.19 (up 3%)  soon after opening & we locked in the gains on the previous days buys. Crazy not to take the day trade and wait for another entry. Bids at our entry buy targets are already in the queue. As always d.y.o.r and good luck.


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## nulla nulla (25 July 2012)

Having closed out all our parcels on Friday 13-7-12 in the sub $3.19 range we missed the flow on to the recent highs of $3.25. Not to worry, we threw some low-ball bids in the queue at $3.12, $3.11, $3.10 and $3.09 for when this recent spurt settles back. 
Todays announcement to the market advised that Mr Mathew Quin MD has tendered his resignation to be effective by February 2013. Some one decided this was terrible and pushed the opening price down. Shortly before the open it looked like sgp would open at $3.09 and all of our low-ball bids would be filled. Unfortunately, for us, other investors saw the opportunity and pushed the open back up to $3.12. With one parcel filled at $3.12 and another one partially filled at $3.11 you can imagine I was very happy when sgp hit our sell price of $3.21 within 27 minutes of opening. The partial fill went later in the day at $3.22.




Can't work out if I should I send Mr Quin a cask of Carpel Gumnuts Darlinghurst Shiraz or not. Decisions, decisions . Naturally I have reinstated further low-ball bids. Who knows what tomorrow will bring?


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## nulla nulla (9 August 2012)

From an interday low of $3.11 on 25 July 2012 sgp went on a skyrocket ride to peak at $3.44 (interday) on 7 August 2012. In just 9 trading days sgp jumped more than 10%. This remarkable little feat came after the announcement that Mr Quinn would retire before February 2012 and the forward warning that this years result would be lower than expected.

Part of the jump can be attributed to the sharemarket swing to higher yielding shares during that 9 days, pumping up the prices of reit's with yields better than 6% allong with Banks, Telstra and Woolworths. Yesterday, the results for 2012 were released and reality set in with a thump. Yes the dividend due this month would be maintained at $0.12; Yes the dividend going forward for 2013 would be maintained at $0.24p.a; Yes this years results were down across the board (apparently worse than analyst expectation); and no there is no certainty that the 2013 results will improve. Not good and the market reacted by selling sgp down to as low as $3.21 before closing for the day on $3.24 after turnover of higher than normal volume.




Today will probably see sgp push lower. Pity because it is trading at the lowest of the reit's (other than fkp) in relation to its' nta and is one of the lowest p/e reit's as well. The bad news also seemed to have a contagious effect on other key reit's such as cpa, dxs, iof etc with them all coming off their recent highs. Their drops were minor compared to sgp, some of the drop could be investors regaining some confidence in the market and switching back to the more risky resource sector but not all of it.


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## nulla nulla (19 August 2012)

SGP did indeed push lower dropping to an interday low of $3.16, jumping to an open of $3.26 the following day then oscilating between $3.17 and $3.23 for the remainder of the week.




The close on friday at $3.22 was a good sign as the last trade before the auction was at $3.20. Good volume in the close also. Next week should be interesting, last week had the loose appearance of a pennant forming and their could be a breakout early this week. Picking which direction is the problem.


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## nulla nulla (25 August 2012)

From an interday high of $3.25 shortly after open on Monday, sgp spent the week dithering between $3.18 and $3.23. The sell down in Fridays closing auction pushed sgp to close on a low for the day (week) of $3.16. 




Bit of an oversell in my opinion, but what would I know. Is it consolidating to bounce off a support level or preparing to break out downwards? For better or worse I bought in the closing auction at $3.16. D.Y.O.R & good luck. .


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## nulla nulla (1 September 2012)

Okay, so I could have waited and bought it lower. However, sgp rebounded to finish the week at $3.18. Like a lot of others, I live in hope. 




Personaly I think it can recover to move higher but what would I know. SGP continues to juggle assets, buy back shares, reduce costs and work toward consolidating value and improving returns. At a size-able discount to nta I think sgp is undervalued at a price less then $3.40. As always d.y.o.r.  

ps: I took sgp in this months tipping competition again. I still think, right or wrong, there is scope for improvement.


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## nulla nulla (6 September 2012)

SGP has broken out upwards from the recent pennant, spiking over the last three days to tap $3.39 interday today before closing on $3.36. Not a bad recovery for a share that started off the month at $3.18. A 5%+ kick start to the month, tomorrow will be very interesting as to whether the share price continues to rise; consolidates at this level; or retraces as investors lock in their profits for the weekend.


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## So_Cynical (6 September 2012)

So_Cynical said:


> (27th-May-2011) Yep got 2070 shares on Monday and in a week or so ill find put how much they cost me  i can see no realistic reason why the SP will stay this low for any significant length of time...SGP is just another big real estate stock and we have both been successfully trading the property stocks in this sideways market for a long time now.
> 
> Happy to hold till SGP comes good.




----------------



nulla nulla said:


> SGP has broken out upwards from the recent pennant, spiking over the last three days to tap $3.39 interday today before closing on $3.36. Not a bad recovery for a share that started off the month at $3.18. A 5%+ kick start to the month, tomorrow will be very interesting as to whether the share price continues to rise; consolidates at this level; or retraces as investors lock in their profits for the weekend.
> 
> View attachment 48858




I need SGP to get to 3.55 so i can get out of my trade in profit....jezz would that be nice after 16 months in.


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## nulla nulla (6 September 2012)

So_Cynical said:


> ----------------
> 
> 
> 
> I need SGP to get to 3.55 so i can get out of my trade in profit....jezz would that be nice after 16 months in.




Arrrrrrr....but you've got a few nice dividends for your trouble along the way though.  
Did you add to your parcel when it spiked down to $2.91? (Low cost Entry Accumulation and all).


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## So_Cynical (6 September 2012)

nulla nulla said:


> Arrrrrrr....but you've got a few nice dividends for your trouble along the way though.
> Did you add to your parcel when it spiked down to $2.91? (Low cost Entry Accumulation and all).




I did better than $2.91  i pretty much nailed the bottom at $2.72 in Aug last year...now i wouldn't be much of a low cost averager if i didn't now would i  ~ fortunately im a poor low cost averager   so i didn't have enough funds to take a very big bite the second time round....so i have to sell the bulk of the first parcel for a profit for my strategy to work.

And $3.55 will do nicely.


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## nulla nulla (9 September 2012)

sgp closed out the week at $3.35. Fantastic jump for the week having closed out last week at $3.18. The open on Friday at $3.40 hopefully is a sign of things to come. This week will be interesting, there is still room for sgp to close the gap on nta and yield must still be attractive to the investors looking for buy and holds (?).





I will be watching for a re-entry oportunity having sold my parcels in the run ups on Tuesday and Thursday. As always do your own research and good luck.


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## nulla nulla (20 September 2012)

From $3.35 on Fridays close last week, sgp opened today at $3.23 then rallied up to test $3.32 before managing to hold $3.30 in the close.




Horrible chart, can't work out if is about to break above $3.32 or retest lower levels. The macd chart suggests lower levels while the RSI chart suggest a bounce? Good luck. I'm still watching and waiting for a re-entry level.


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## nulla nulla (29 September 2012)

Not only did sgp bounce off the low of Thursday 20 September it tested $3.40 interday on Friday before closing out the week at $3.34.  A good week for longer term sgp holders and those fortunate enough to jump on board during last weeks lows (not me).




The future for sgp is hard to see in my crystal ball, too many clouds. However I have chosen sgp again for the October stock picking competion. I'd like to think it has another 1.5% - 2% upside as, hopefully, it continues to narrow the gap to nta and return to the $3.40+ trading range area.  As always, what would I know, I'm often wrong. D.Y.O.R.  and good luck  




PS: I like the 3 year chart as a better indicator as to where sgp may be heading.


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## nulla nulla (3 October 2012)

Interday high (so far) of $3.535. Pretty solid jump 3 days into the month. Looks like the investors see the benefit of low interest rates to the residential (and non residential) property sector.


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## So_Cynical (3 October 2012)

nulla nulla said:


> Interday high (so far) of $3.535. Pretty solid jump 3 days into the month. Looks like the investors see the benefit of low interest rates to the residential (and non residential) property sector.




Sell order has been placed at $3.60  go the rally.


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## nulla nulla (3 October 2012)

So_Cynical said:


> Sell order has been placed at $3.60  go the rally.




SGP hel $3.50 in the close. It is way ahead of my expectations for the month. Early days yet but I would not be surprised to see sgp achieve your sell target in the next couple of weeks, even if it is only in the course of an interday spike. I'm still looking for a re-entry.


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## nulla nulla (3 October 2012)

Previous spikes have inevitably been followed by a return to the base, so it might pay to place a low ball bid arround the $3.27 - $3.28 area. The recent trend appears to be upward, encouraging me to consider that sgp will work its way back into the $3.50+ area.




This is an opinion only and should not be relied on when making investment decisions. As always. D.Y.O.R and good luck.


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## nulla nulla (9 October 2012)

So_Cynical said:


> Sell order has been placed at $3.60  go the rally.




Not quite there yet SC but another leap like todays will see you in the money.


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## So_Cynical (10 October 2012)

nulla nulla said:


> Not quite there yet SC but another leap like todays will see you in the money.




Got to 3.60 a couple of times today and i didn't get filled...and tomorrows another day.  would be nice to wrap this up.


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## Ves (10 October 2012)

So_Cynical said:


> Got to 3.60 a couple of times today and i didn't get filled...and tomorrows another day.  would be nice to wrap this up.




Why quibble over a few cents?


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## So_Cynical (10 October 2012)

Ves said:


> Why quibble over a few cents?




Yeah i know...but im looking at marginal profit as it is, and i have found that 9 times outa 10 the SP will go well past my sell price anyway given time...but as usual i would hate to see the SP fall back and me miss out on a long awaited exit.


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## So_Cynical (11 October 2012)

So_Cynical said:


> Got to 3.60 a couple of times today and i didn't get filled...and tomorrows another day.  would be nice to wrap this up.




Out Today at 3.60 for a trade profit per share of 11 cents (2.93%) for holding 17 months  add in distributions of almost 30c per share and it makes the whole exercise seem a little more worthwhile, then add in the fact that the average price per share of the remaining SGP holdings in my super portfolio is $3 and it makes it look even more worthwhile...open profit of 20% 

A 2 year chart below of my activities and the SP performance.
~


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## nulla nulla (12 October 2012)

Ya done good SC. Just out of interest, where do you see it going now?


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## So_Cynical (12 October 2012)

nulla nulla said:


> Just out of interest, where do you see it going now?




If the general market rally continues and end of the world/Euro talk continues to subside then $3.90 > $4 is certainly possible, on the other hand if end of the world/Euro talk intensifies we could easily go back to where we were 12 months ago. 

Personally i don't care and make no predictions other than the prediction i made on this forum 2 or 3 years ago..that the market (ASX200) will continue to range sideways, broadly between 3800 and 4800 (cant remember the exact numbers) 

Ill just keep buying the lows and selling them for more than i paid for em.


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## nulla nulla (12 October 2012)

So_Cynical said:


> Ill just keep buying the lows and selling them for more than i paid for em.




Works for me too. Though I suspect my hold timing may be more short term than yours. However I am probably more risk adverse than I need to be. Personally I would like to see sgp retrace a litle from here rather than move into the premium to nta price range. Gives me more comfort for getting on board.





	SGP	  	Date:		Closing 12-10-2012	  	Closing Price		3.62		Issued Shares		2,203,547,228		Capital		7,976,840,965		Earnings $		0.2110		Dist $		0.24		Yield %		6.63%		P/E		17.16		NTA $		3.68		Discount to NTA		1.63%	

	[td	Share:	[/td]
The gap between the nta and the share price is only $0.06 and while the yield at 6.63% is good the p/e ratio is creeping up at 17.16 times earnings. It is hard to for me to justify the market paying a premium when you consider that "Residential" and "Retail" are still lagging in the present economy.


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## nulla nulla (19 October 2012)

A slight correction this week when the Profit update (downgrade) was released . I thought most of the information provided was already in the market place but the volumes on Wednesday suggest someone thought it was time to jump ship. Opening on Wednesday at $3.42, sgp dropped to $3.37 before good support pushed trading back up to the $3.41 - $3.42 range. Volumes on wednesday were high but softer on Thursday & Friday with the share price pushed back up to close for the week at $3.46.




SGP indicated that they would hold the current distribution levels, which means holders should receive $0.12 per share in the December 2012 distribution. As always, do your own research and good luck.


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## So_Cynical (19 October 2012)

nulla nulla said:


> Works for me too. Though I suspect my hold timing may be more short term than yours. However I am probably more risk adverse than I need to be. Personally I would like to see sgp retrace a litle from here rather than move into the premium to nta price range. Gives me more comfort for getting on board.




Agree totally, we are at the top end of the range for sure and not a place where i would be buying...as far as im concerned upwards of 3.50 is the sell zone.

Interesting that we can both be involved with the same stocks (DXS & SGP) over a number of years, both profitable and yet both using different time frames, with different risk profiles and profit objectives....the kids could learn a lot, yet i doubt they will.


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## nulla nulla (20 October 2012)

So_Cynical said:


> Agree totally, we are at the top end of the range for sure and not a place where i would be buying...as far as im concerned upwards of 3.50 is the sell zone.




Would only be buying and holding at this point if i were doing a dividend play and were confident that sgp would rebound after going exdiv. I actually snuck back in on the open on Wednesday at $3.42 and added another parcel at $3.38 for an average hold of $3.40. I figure if it moves further down I will hold for the December distribution and ease out as and when it comes back above the entry price of $3.42. I considered dropping the first parcel at $3.47 on Friday but decided (after watching the support rallies/volumes) to wait and see if sgp can get back above $3.50 early next week.




> Interesting that we can both be involved with the same stocks (DXS & SGP) over a number of years, both profitable and yet both using different time frames, with different risk profiles and profit objectives....the kids could learn a lot, yet i doubt they will.




You can lead a horse to water etc etc


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## nulla nulla (26 October 2012)

There was  a lot of demand for sgp this week with good volumes pushing the price up to test $3.54 twice through the week. Trade opportunities for the quick and further re-entry opportunities for the brave today as sgp drifted back down to $3.47 (after the initial open of $3.52).





Recent daily volumes have been higher as the market rebalances between those unhappy with the recent profit warnings (sellers) versus those that had already factored in market softness balanced off against the maintained dividends (buyers). With a good dividend coming up in December I considered todays lows of $3.47 - $3.48 a good entry point, even if I have to hold for a little while. As always D.Y.O.R. and good luck.


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## nulla nulla (3 November 2012)

Of course having bought in at $3.48 - $3.47 the share price danced arround before dropping to test $3.41. What I thought was a long shot bid at $3.42 was quickly filled on the way down. Volumes were better than some of the other reits traded this week. There seemed to be a lot of support in the $3.45 - $3.46 range. 




I took some heart the sgp didn't go into free fall on Friday (like some of the other reit shares did) and managed to close out the week on $3.44. The dividend coming up in December of $0.12 is probably under pinning the share price as well as providing a potential fo a combo of capital gain and dividend for those willing to invest for eight (8) or more weeks. As always d.y.o.r and good luck.


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## nulla nulla (19 November 2012)

As always, just when you think the share is a bargain (with an excellent yield on the forthcoming dividend) it got even cheaper and fell to $3.29 interday on Friday 16/11/12. 





A bit oversold in my opinion but then just about every A-REIT is at the moment (in my opinion). Check out he RSI and MACD charts. The yield for sgp is one of the highest going atm (for what it is worth). The grind back today was very wlecome but I hesitate to consider it any more than a temporary bounce.


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## nulla nulla (14 December 2012)

Sideways between $3.34 and $3.46. Is that a pennant forming? Is it likely to break out upwards before the distribution announcement or hang on at this level then breakout downwards when it goes exdiv?  




The update confirmed things have been crook in Victorian residential sales (but the housing and employment figures have been improving). There is a new ceo starting, no doubt there will be a bit of "new broom sweeps clean" write off the crap on the balance sheet and start fresh happening. Things could get worse before they get better. On the plus side the update confirmed the determination of the board to maintain the distribution rate. Time to top up and put your money where your mouth is or cash out and sit back and watch? You decide. 
As always do your own reseach and good luck. .


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## So_Cynical (9 February 2013)

I reckon Stockland is a good thing at the moment, closed on Friday at $3.41 one of the few quality stocks not to rise with the market over the last 3 > 4 months...i would think that there is some potential for SGP to rally over the next few weeks.


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## nulla nulla (10 February 2013)

So_Cynical said:


> I reckon Stockland is a good thing at the moment, closed on Friday at $3.41 one of the few quality stocks not to rise with the market over the last 3 > 4 months...i would think that there is some potential for SGP to rally over the next few weeks.




I agree. We have been trading it regularly since April last year and managed to take positions prior to December 21 to earn the div and take a capital gain. The div is due arround 28 February and the estimate is $0.12 per share. There is also a report due this month. The last profit update was in relation to the tough residential sales conditions SGP were experiencing in Victoria and to a slightly lesser extent NSW. Although it was acknowledged the profit forecast would be lower, it was not considered material enough for them to revise the distribution down... at that time. The residential sales for Victoria and NSW have improved slightly for December and January, hopefully the distribution is still on track for $0.12 per unit.

The share price was starting to rally until early last week, climbing up to test $3.57. However it collapsed when the Mirvac write downs hit the press. This had a damper on the SGP share price pushing it down over 3 days to level off at $3.41. However, the interesting thing about the Mirvac property write offs, the related mostly to unit developments in Queensland with one of the larger write offs being somewhere between Brisbane and the Gold Coast. Developments that were initiated some 4-5 years ago that the new GM of Mirvac decided it was time to get them off the books. This propert write down was for a different state and market to the SGP exposures.

Additionaly, Australand reported a better result than was expected with improved residential conditions. This is more like for like market exposure with SGP than Mirvac. Accordingly we elected to get in when it dropped away from the mid $3.50's. We were in the queue at $3.48 but our order got filled at the opening price of $3.45 thursday (even better) and back up order at $3.43 was filled on Friday averaging our hold down to $3.44. I looked at topping up at $3.41 to bring the average down to $3.43 but decided to hold until monday. 




The volumes of daily turnover were higher than usual in the later part of the week. However for every seller there has been a buyer and it hasn't been a panic sell off. The share price may fall further but in my opinion the prospects of another interest drop will underpin the share price to some extent. I'm in and prepared to buy more to lower the average further if I can. As always do your own research and good luck .


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## Muschu (13 February 2013)

Why is it so?

It seems to me that SGP's report today is less than average and yet the share price has risen.....

What am I missing?

Comments welcome.

Thanks 

Rick


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## skc (13 February 2013)

Muschu said:


> Why is it so?
> 
> It seems to me that SGP's report today is less than average and yet the share price has risen.....
> 
> ...




The writedown on residential projects and inventories was well flagged. The fall/share price response has already happened over the last few weeks, as SGP underperformed while the rest of the REIT sector made new highs. Today's price movement was exactly the same as MGR last week.

I had it on close watch but was expecting may be 2-3% fall before a slight positive close. It didn't fall to my order, and it left my sight when it started to run.

The market's view is that this is the bottome of the cycle and is willing to look past the last report, not to mention the 6.5% yield that is maintained.


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## Muschu (13 February 2013)

skc said:


> The writedown on residential projects and inventories was well flagged. The fall/share price response has already happened over the last few weeks, as SGP underperformed while the rest of the REIT sector made new highs. Today's price movement was exactly the same as MGR last week.
> 
> I had it on close watch but was expecting may be 2-3% fall before a slight positive close. It didn't fall to my order, and it left my sight when it started to run.
> 
> The market's view is that this is the bottome of the cycle and is willing to look past the last report, not to mention the 6.5% yield that is maintained.




Well it's beyond me but, given I bought at $3.51, I won't complain..

Thanks skc.

Rick


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## nulla nulla (13 February 2013)

Muschu said:


> Why is it so?
> 
> It seems to me that SGP's report today is less than average and yet the share price has risen.....
> 
> ...




The share price was oversold when it was pushed down recently from $3.57 to $3.45. Elements of the market seemed to anticipate a write off of Queensland residential assets to a similar level as Mirvac. Unfortunately I missed the opening price on Monday as I was travelling. I hope some of the people reading and/or contributing to this thread were able to get on at the $3.36 open.



skc said:


> The writedown on residential projects and inventories was well flagged. The fall/share price response has already happened over the last few weeks, as SGP underperformed while the rest of the REIT sector made new highs. Today's price movement was exactly the same as MGR last week.
> 
> I had it on close watch but was expecting may be 2-3% fall before a slight positive close. It didn't fall to my order, and it left my sight when it started to run.
> 
> The market's view is that this is the bottome of the cycle and is willing to look past the last report, not to mention the 6.5% yield that is maintained.




Like skc I was expecting another slight dip after open today as the unhappy report readers bailed out. But like skc, I also expected a bit of a rally as most of the negatives in the report have well and truly been factored in since September last year. The new broom sweeps clean in respect of the write downs and the changes to how interest will be expensed rather than capitalised. These aspects as well as the slowdown in selling off of office assets were well received. 



Muschu said:


> Well it's beyond me but, given I bought at $3.51, I won't complain..
> 
> Thanks skc.
> 
> Rick




I was only expecting it to hit the low to mid $3.50's and sold way too early at $3.54. To me it looks like the market response and rally may have encouraged some shorters to consider it would be a good time to close out their positions. I will be watching for a re-entry on any retrace. I'm happy


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## nulla nulla (16 April 2013)

SGP has continued to climb since August 2011 alongside the rest of the A-REIT's but encountered some resistance today when it was pushed down to test $3.75 soon after openning. Fortunately it received significant support at the $3.77 - $3.78 levels and then rallied before the end of the day to test $3.84, before closing on $3.83. 





Like most of the A-REIT's, SGP has benefited from the immigration from Gold and Resources to safe haven yield bearing shares. I would not be surprised, in the near future, to see it re-test the recent highs and move above $3.90. As always do your own research and good luck.


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## skc (16 April 2013)

nulla nulla said:


> SGP has continued to climb since August 2011 alongside the rest of the A-REIT's but encountered some resistance today when it was pushed down to test $3.75 soon after openning. Fortunately it received significant support at the $3.77 - $3.78 levels and then rallied before the end of the day to test $3.84, before closing on $3.83.




Merrill talked about potential capital raising this morning probably caused the weakness. It's in the AFR.


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## nulla nulla (16 April 2013)

skc said:


> Merrill talked about potential capital raising this morning probably caused the weakness. It's in the AFR.




Must try and find it. What ever was said certainly caused a spike down. We saw it as an opportunity and jumped in at $3.77. Can't see why they would need to raise capital unless they were looking at an acquisiton?


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## nulla nulla (27 April 2013)

Over the last ten (10) days SGP has rebounded from lows of $2.75 to test low $3.90's, dropped back to low $3.80's, and then surged again to retest low $3.90's before appearing to collapse on Friday to close out the week below $3.80. But did it really collapse or was it pushed?




Early this week SGP was finding solid support in the $3.85 area but having trouble getting above $3.86. On Wednesday it dropped quickly to $3.83 after the market opened then climbed steadily to test $3.94. An eleven cent spread (gain), amazing. There was no news or market updates to prompt a surge. Gold appears to have stabilised, so it wasn't funds being transferred into A-REIT's for the yield. I thought it may have been options settlements or shorts being closed out accelerating the run-up combined with low interest foreign investments chasing our yields, other than that I have no idea? 

However, after the surge on Wednesday, SGP appeared to be pushed down on Friday. Opening at $3.85 (already well down from Wednesdays close), SGP ran up to $3.87 immediately after open only to be sold down progressively to $3.83 where it traded for a short while (turned over 1 million plus shares) than was sold down very quickly to $3.77 - $3.78, where it stayed with solid turnover until midday. Come lunch time (12:00 noon to 2:00pm) SGP clawed it's way back to $3.79 - $3.80, with the occaisional testing of $3.81. Turnover was subdued (retail investors?). Then with the end of lunch time (2:00pm) the sellers were back and SGP was pushed back down to $3.77 - $3.88. Volumes jumped and (fortunately) most of the turnover was at $3.78. Come the auction, over 4 million shares were traded with the closing price being pushed up to $3.79. Maybe someone wanted the price down to accumulate? 

I also noted that Australand and Mirvac (who also dabble heavily in Residential property) were also down but they were only down arround 2% compared to SGP's 3%. I'm not aware of any significant new bad news for housing sales etc  and I fond it odd the SGP was sold down so heavily in comparison.

As always do your own research and good luck.


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## nulla nulla (29 April 2013)

It seems that the Victorian Government has finaly recognised the importance of the Building industry to their economy and has decided to do something about stimulating the sector.

An increase of the "first home buyers" grant to $10,000.00 on new homes and a 40% drop in stamp duty.

http://www.heraldsun.com.au/news/vi...ngs-fast-tracked/story-e6frf7kx-1226631141536


This should play in favour of the likes of SGP and other A-REIT's with residential development projects in Victoria. I say "should" because sometimes it seems that nothing is ever logical in the A-REIT market. It will be interesting to see if there is any market reaction today. It would be even better if NSW and Queensland followed Victoria's lead.

*Disclaimer:* Yeah I hold SGP, as always do your own research and good luck.


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## nulla nulla (30 April 2013)

Nice bounce yesterday. Managed to close on $3.86 after tapping $3.89 during the day. A large volume was traded at $3.87 but buyers seemed reluctant to push higher. 

Interestingly the Japanese market was closed for a holiday. Today will be interesting to see whether the weekends news can continue to support the share price and whether the Japanes market being open makes a difference to the buying/selling.

Disclaimer: We still hold


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## nulla nulla (14 May 2013)

Is anyone else trying to trade this?




The highs were getting lower and the lows were getting lower. It looked like SGP was on a slide and would break through what appeared to be a recent support area of $3.75. In the lead up to the report from the new General Manager, Mark Steinert, the market appeared to be torn between the investors chasing yield and the profit takers expecting the share to drop if SGP did a capital raising. Then the report comes out and SGP spikes up to $3.96, drops back to $3.85 and closes on $3.89 on good turnover. Not much has changed. 

The Fairfax papers (Sydney Morning Herald) BusinessDay has two articles on Stockland worth a read. Basicaly if, Mr Stienert gets his juggling act to reduce cost and generate growth across the portfolio right, the share price will "soar" and if not.............

We took advantage of the price surge after yesterdays open and reduced our holdings to two (2) parcels. The undertaking to maintain the dividend at $0.24 per annum means there will be a $0.12 distribution for June (payable in August). It could be worth a hold for yield and/or capital gain from here. We will just have to wait and see. As always do your own research and good luck  .


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## skc (14 May 2013)

nulla nulla said:


> We took advantage of the price surge after yesterdays open and reduced our holdings to two (2) parcels. The undertaking to maintain the dividend at $0.24 per annum means there will be a $0.12 distribution for June (payable in August). It could be worth a hold for yield and/or capital gain from here. We will just have to wait and see. As always do your own research and good luck  .





SGP has been on a EPS downgrade cycle for some time, although looking at the share price chart you wouldn't know it at all. While other REITs are on mostly upgrade cycles, you have to pin the blame on management.

The yield is the obvious reason for holding, yet they are now paying out much more than they earn for FY13. 

Trading-wise I've avoided this name for some time because of the review (it was widely tipped that dividend would be cut). It wouldn't surprise me if the market prices it closer to 5% yield over the next month or 2.


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## nulla nulla (15 May 2013)

skc said:


> SGP has been on a EPS downgrade cycle for some time, although looking at the share price chart you wouldn't know it at all. While other REITs are on mostly upgrade cycles, you have to pin the blame on management.




It looks like the "blame" exercise was started with the board when it was agreed to let the former general Manager go, gracefully with thanks for steering the company through the GFC (and into it?). Now the new broom, Mark Stienert, has decided to let a few more people go...gracefully and with thanks for their efforts. It would seem he has found a few areas for cost savings across the sectors.



> The yield is the obvious reason for holding, yet they are now paying out much more than they earn for FY13.




If I understand their figures correctly, the bulk of their income comes from retail which is showing signs of improvement. Retirement is tough atm and Residential development in Victoria and Queensland is suffering a big slow down. Income is still fairly sound. The profit warnings have been basically the result of two (2) lots of large impairments taken to book in respect of the land holdings acquired in the early 2000's for future development that they have now decided do not meet their plans/requirements for future development. Bit of a cleanup of the balance sheet. 



> Trading-wise I've avoided this name for some time because of the review (it was widely tipped that dividend would be cut). It wouldn't surprise me if the market prices it closer to 5% yield over the next month or 2.





The lack of a need to go back to share holders to raise capital is a good thing. Part of the reason for the recent sell down was the prospect of a capital raising. I think you mentioned in an early post that this was reported in the AFR. If the market were to move SGP share price, from the current yield level arround 6% to a 5% yield level, it would be a fantastic outcome for long term holders and those that bought at the recent share price bottoms.


*	Share:	*  *	SGP	*  *	SGP	*     *	Date:	*  *	14-May-13	*  *	Speculative	*     *	Closing Price	*  *	3.95	*  *	4.80	*  *	Issued Shares	*  *	2,203,547,228	*  *	2,203,547,228	*  *	Capital	*  *	8,704,011,551	*  *	10,577,026,694	*  *	Earnings $	*  *	0.0130	*  *	0.0130	*  *	ROE	*  *	0.33%	*  *	0.27%	*  *	Dist $	*  *	0.24	*  *	0.24	*  *	Yield %	*  *	6.08%	*  *	5.00%	*  *	P/E	*  *	303.85	*  *	369.23	*  *	NTA $	*  *	3.49	*  *	3.49	*  *	Discount to NTA	*  *	-13.18%	*  *	-37.54%	* 

It might take more than a couple of months though .  I can't vouch for the  earnings figures in the above table. The figure was taken from Huntleys as provided in comsecIress and probably includes the impairments in the Fembruary market update from SGP.  As always do your own research and good luck. 

Another article in todays SMH BusinessDay titled "Stockland tips steady rise". I wonder if the market will follow through?

And yes we still hold, for now.


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## coolcup (15 May 2013)

One thing just to note was that the market got a big relief from SGP not raising capital (which was a very low probability outcome) but also from them reconfirming their FY14 dividend would not fall from the current level of 24 cps. Reasons for being cautious include the fact that they probably won't grow their dividend for some time.

1. They are currently paying out well over 100% of earnings and earnings growth will probably take some time to re-assert itself (FY14 will probably show big growth over a terrible FY13, but beyond that)
2. Their payout ratio is even further above AFFO as they capitalise more of their interest bill than they expense through the P&L. It will be interesting to see if this corrects itself at all as a result of the impairments they have taken
3. A small fact that not many have picked up on is the capital reallocation they have been forced to do, reallocating $500m of equity from trust to company. SGP is a stapled group with a trust and company. Generally, to minimise group tax expense, the company is geared up to a very high level by borrowing from the trust (a notional "paper" loan). This loan generates interest expense in the company which reduces taxable earnings. A corresponding interest income is recorded in the trust, which is of course tax free. By doing the $500m capital reallocation, this reduces this synthetic tax shield and so will also hamper earnings growth going forward.


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## nulla nulla (15 May 2013)

coolcup said:


> .....A small fact that not many have picked up on is the capital reallocation they have been forced to do, reallocating $500m of equity from trust to company. SGP is a stapled group with a trust and company. Generally, to minimise group tax expense, the company is geared up to a very high level by borrowing from the trust (a notional "paper" loan). This loan generates interest expense in the company which reduces taxable earnings. A corresponding interest income is recorded in the trust, which is of course tax free. By doing the $500m capital reallocation, this reduces this synthetic tax shield and so will also hamper earnings growth going forward.




I saw this as a lessor of two evils. The interest on the transfer stays within the group where capital raising or borrowings would be more dilutive to shareholdings. The share dipped today pretty much in line with the rest of the market. Pity, I was looking for the share to test $4.00 but it stalled immediately after open, struggled to hold $3.95 - $3.96 then dropped quickly on relatively small volumes to the $3.89 - $3.90 area. 

Tomorrow is options settlement day, according to my calander. I'm curious to see if this impacts on the sgp share price.


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## nulla nulla (2 June 2013)

No sooner did I say that the transfer could be the lessor of two evils, SGP went and raised $400 Million from Institutional Investors at $3.88. Naturally the market took this in it's stride and slashed the price to $3.87. Then the off-shore investors said "stuff this, we are taking our money and going home" and the price fell to test the last suport levels of $3.65 - $3.66.





And then SGP announced to the market that it wanted to raise a further $100 million from Retail Investors also at $3.88 with a maximum of $15,000.00 per shareholder.  As much as I like SGP, why would I buy more ay $3.88 when I can buy on market at $3.66 (and possibly even cheaper next week). Go figure...

As always do your own research and good luck.


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## piggybank (22 October 2013)

F&P Daily Update.


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## nulla nulla (23 October 2013)

Am i missing something PB?


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## nulla nulla (1 December 2013)

The Auction clearance rates were up again over the weekend. Glen Stevens from the RBA keeps talking about interest rate cuts to stimulate the economy and people see now as a good time to be overleverageing to buy property, silly buggers. Notwithstanding, this seems to give the share prices of the likes of Australand and SGP a lift.




Don't be surprised if there is a rally on Monday (could be brief). Personally I think the share price is at the epper end of its price range at the moment. As always, do your own research and good luck.


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## nulla nulla (26 January 2014)

Although SGP has dropped from recent highs to test June 2013 levels it actually appears to travelling in a sideways and upwards channel. SGP has received some support since the RBA dropped the official interest rates and auction clearance rates rebounded. With Mr Stephens and his fellow RBA board members talking down our economy there is little risk of an interest rate rise (unless the falling dollar pushes fuel prices through the roof and inflation become an issue). 




I suspect SGP will rebound from its' current price level and trade in a sideways channel. Then again I could be totally wrong. As always do your own research and good luck.


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## nulla nulla (6 February 2014)

SGP not only didn't rebound from the low $3.70's but tested $3.60 where I was waiting with a low ball bid on Tuesday. Not confident that it was the "low" but happy to enter for the prospects of a small spread trade exit at $3.66 on Wednesday, even though it wasn't the "high" ($3.67) for the day. I admit I can't pick with accuracy the "highs" and "lows" but if I can get close enough, often enough I can collect between 1-2% per trade and it all ads up.




This is not a recommendation. As always do your own research and good luck .


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## nulla nulla (8 April 2014)

SGP rebounded from the lower channel bar $3.60 mark to test $4.00 over the next couple of weeks. Then SGP ventured into Australand for a strategic stake of 19.5% and the market reaction was a sharp sell down to the $3.70 levels.




$3.70 appears to be a support level over the last week or so, however after the Dow fell Friday & Monday I suspect SGP may drop below the trend line today. There is some possibility of traders turning to REIT's as more secure stocks  which could reduce any drop. We will just have to wait and see.


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## nulla nulla (11 April 2014)

SGP rebounded a little along with the rest of the A-REIT's. However, in comparison with the rest of the A-REIT's, SGP did not soar like an Eagle but literally flapped like a chook with its' wings clipped. I suspect it has caught the US market cold "fear of an interest rate hike due to improving economic conditions". Any increase in aussie interest rates could have a sudden and dramatic impact on SGPs' prospects.




Personally, I'm keeping it on my radar for an entry if it drops into the low $3.70's. Sometimes traders forget that SGP doesn't just do residential. As always do your own research  and good luck.


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## nulla nulla (23 August 2014)

SGP has continued to find support, trading in a gradual sideways but upward channel. The recent report and prevailing conditions have encouraged investors to lift the share price surpassing the March 2010 highs. 




While the recent share price runup has been sharp and will likely falter, the long term aspects appear promising. Recent publicity has Stockland selling interests in some major assets. Combining the proceeds of these sales with the profit from their Australand foray could provide them with a good war chest for a tilt at the Leighton property portfolio, without sending their debt gearing levels to untenable levels. As always do your own research and good luck.


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## rimtas (24 August 2014)

I am bullish on Stockland, based on a wave structure it is in the early stages of a "3 of 3" advance and should accelerate towards $6 mark in a 12 months period.  
Now when 2010 highs are broken, it should make an accumulation-sideways movement in a 4.20-4.30 area and then a massive "gap and go" wave is ahead.

Only if SGP crash from current levels below latest bottom of 3.9  it will immediately jeopardize the bullish scenario.


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## tech/a (24 August 2014)

rimtas said:


> I am bullish on Stockland, based on a wave structure it is in the early stages of a "3 of 3" advance and should accelerate towards $6 mark in a 12 months period.
> Now when 2010 highs are broken, it should make an accumulation-sideways movement in a 4.20-4.30 area and then a massive "gap and go" wave is ahead.
> 
> Only if SGP crash from current levels below latest bottom of 3.9  it will immediately jeopardize the bullish scenario.




Interested in a marked up chart.
Why don't you see the last 4 yrs as accumulation?


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## rimtas (24 August 2014)

Accumulation always means a correction in a Trend, and last 4 years can't be described as Correction, because this would mean as the trend is still down and SGP will eventually falls to new lows.  I do not say that this is impossible because in the market everything is possible, but a good evidence supporting a bullish case is that a crash to 2009 bottom was not Impulsive, it consisted of two ABC overlapping corrections which means that sooner or later SGP will be at a new all time highs. 

But I am not going to analyse a trend that will take decades, because we need to make money in a shorter term. And focusing on this let's take a closer look what happened when the 2009 bottom was set up. 

The 1st wave was definitely a _Leading Diagonal_ with a clear 33333 subdivisions-it is a typical start of the Impulsive advance after a Crash. Later a three wave correction followed to 2011 higher bottom. Since then the market is not in hurry to form the clear Impulsive rise and instead it is sporting a rising overlapping structure which I think can be labelled as a series of first and second waves. If it is a 3 (or C) Wave in progress, we will eventually see it consisted of 5 Waves and the upcoming break of an _Acceleration Channel_ (at around $4.5) will confirm that a "gap and go" move is in progress on a weekly scale. 

This will be very important because it means that market will start to move quickly and Impulsively, no more overlapping waves at this stage.  The good initial Target Area for the market to slow down and start sporting a bigger scale sideways correction could be a 61,8% retracement level and a (X) wave area of a 2009 Crash. This is a level above $6 so a +50% rise from current levels. 
I also hold ABP which has a similar structure but it holds an even more bigger potential to rise_ times_ to 61,8% level.

That is how I personally see a Bigger Picture which could prove that I am wrong if SGP close under Acceleration Channel(currently  it is at $3.8). Until it is trading in a Channel or above it is a  bullish Case.

Anyone could ask what would be the reason of this kind of bull developing, and I can answer simple-in a 2009 Crash the real estate prices in Australia had  fallen very little compared to real estate stocks which most of them plummeted 70-90% from their peaks. Now Real Estate prices recovered but stocks still underperforming  so they should start to follow soon.  

It is just my thoughts guys, I keep in mind all possible scenarios but presenting only those that appears tradable to me. The bottom line is to buy and place a stop into positive area, then keep your investments in the market and see how waves are developing.


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## nulla nulla (11 November 2014)

The share price not only faltered but dropped to the lower channel bar tapping $3.83 on 14 October 2014. Fortunately from there the share price clawed its way back to the present mid $4.20's. Puting it in perspective, SGP has now recovered to the post gst rebound highs of August 2009. 




In reality SGP has tracked sideways since 2009 with share price resistance around the $4.15 mark. There has been a lot of restructure, FKP (Aveo) has been sold off, the stake in Australand has been sold off (for a good profit) and the property portfolio has undergone significant rebalancing through sales and acquisitions (mostly office, retail and residential). SGP is probably in the best position it has ever been. Cashed up for further acquisitions, perhaps some share buy back? This with the prospects of low interest rates for the immediate for-see-able future, no doubt, is also helping investor confidence. 

However the A-REIT sector as a whole is moving in realms of price/earning ratios between 12-16 and SGT is presently trading with a price earnings ratio around 18.42, with a yield of around 5.7%. Having taken three (3) years to lift the share price by one dollar, I suspect that, in the current global economic conditions, it would take a huge lift in earnings and yield to see the share price rise to $6.00 in the next twelve (12) months.  Hopefully the previous resistance level of $4.15 can become a support level as SGP continues to move sideways and upwards in the existing channel. As always, do your own research and good luck.


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## rimtas (11 November 2014)

nulla nulla said:


> it would take a huge lift in earnings and yield to see the share price rise to $6.00 in the next twelve (12) months.




I would put it diferently-the market will expect a huge lift in earnings and yield and thus the price will rise towards $6.  Earnings  doesn't need to rise in order for the stock to appreciate. It is enough that optimism towards future would rise.
12 months is off the table, as SGP made a new low below 3,9 with current drop. I have no idea how long it would take, but based on a wave count the rise will be much steeper on a time scale than we have now. Channeling technique points to approx. this interval(12mo)  but it actually depends  what kind of corrections will be on the way. 
Earnings doesn't matter. They tend to fluctuate with broader market trends and predicting them has no  value in determining how much stock should rise/fall according to numbers on balance sheets.


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## nulla nulla (17 December 2014)

SGP is another share that seems to have gapped down away from the previous pattern tracking the A-REIT Property Sector (xpj).





I find this all the more curious as SGP is one share that would benefit most from the Interest rates being kept low and or the prospects of interest rates going down.  That $4.05 level looks very enticing to me. Particularly with the dividend of $0.12 coming up for year end. Mind you the XPJ has gapped upward from the All-ords (XAO) so maybe SGP tracking the XAO is in sync with the market and it is the rest of the sector that is out of sync?

Then again, Rimtas might have confused everyone with his Elliot Wave analysis and everyone stopped buying .

As always do your own research and good luck.


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## coolcup (17 December 2014)

Hi nulla

I think what you are seeing here is that WDC is a big part of the A-REIT index and has rallied strongly off the back of the the falling Australian dollar (a lot of their assets are in the US). This has forced the A-REIT index up, while other domestic only stocks have lagged and appear to have underperformed.


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## nulla nulla (18 December 2014)

coolcup said:


> Hi nulla
> 
> I think what you are seeing here is that WDC is a big part of the A-REIT index and has rallied strongly off the back of the the falling Australian dollar (a lot of their assets are in the US). This has forced the A-REIT index up, while other domestic only stocks have lagged and appear to have underperformed.




I partially agree with you. However, Westfield is not as large a part of the A-REIT sector it was before the restructure hiving off assets to SCG. While Westfields share price performance is enhanced by the perception of a US recovery combined with the impact of the falling Aud$, it is not enough for Westfield to take all the credit for the overall sector impetus. GPT for instance is a locally based A-REIT and is testing six year highs as are several other locally based A-REIT's. More likely a surge of foreign investors coming in on the low Aud$ combining with local yield chasers (IMO)

What I am pointing out here though, is that SGP is presently lagging behind the sector. It is also lagging behind GPT which is historically most unusual. Is it possible the price action for SGP is indicative of some large accumulation underway? Perhaps the volume action specialists could offer an opinion?


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## nulla nulla (22 December 2014)

Hitting an interday high of $4.27 SGP is only a hairs breadth away from breaking through the resistance level of $4.28.




SGP is still out of sync with the likes of GPT. It remains to be seen as to whether SGP can push higher or fades in the new year after it goes ex-div on 29/12/14. As always do your own research and good luck.


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## sptrawler (22 December 2014)

nulla nulla said:


> Hitting an interday high of $4.27 SGP is only a hairs breadth away from breaking through the resistance level of $4.28.
> 
> View attachment 60856
> 
> ...




Can't get excited about a company, that relies on shopping centres and real estate, in the current climate.


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## rimtas (2 March 2015)

nulla nulla said:


> in the current global economic conditions, it would take a huge lift in earnings and yield to see the share price rise to $6.00 in the next twelve (12) months.




Would love to hear from you about SGP earnings-are they rising in line with market? $5 mark will be reached in the weeks to come, and $6 I expect to see at the second half of the year. So I am just curious about fundamental aspects of the company, because technically it is streaming towards $6, at least. This year.


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## nulla nulla (3 March 2015)

Personally I believe that the recent surge above the $4.28 resistance levels is a result of the cheap global money working its' way into Australian yield shares combined with the drop in interest rates last month. The current levels are a spike similar to the May 2013 spike which followed the Japanese money printing exercise.




I'm looking for SGP to hit $5.00 this year and probably trade sideway with slow upward impetus providing plenty of trade opportunities however I still think earnings are too low to sustain a $6.00 share price this year.


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## nulla nulla (15 March 2015)

Sold down on large volumes on Monday, consolidated on even higher volumes on Tuesday, then climbed back on smaller volumes on Wednesday/Thursday, then got the heeby jeebies on Friday and gave a little bit back on low volumes. 




The MACD chart shows a big gap down, it will be interesting to see whether the auction clearances around the country over the week end have any bouying effect on SGP on Monday?


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## nulla nulla (21 March 2015)

There was nothing to impress anyone on Monday, Tuesday and Wednesday with SGP except maybe that volumes were up on Wednesday. The Relative Strength charts showed that SGP appeared to be in "oversold" territory but the whole A-REIT sector had been pushed down on gloomy news earlier in the week so SGP seemed to be consistent with the rest of the market. 

Then on Thursday SGP made some modest gains on higher than average volumes, consolidation perhaps. Friday trading early in the day appeared to be further consolidation at the Thursday levels, before a sudden flurry of buying before the market close pushed the share price up to  $4.59-$4.60. Then kaboom, buyers pushed the SGP share price up a further 1.0% in the auction.




I wonder if SGP will test the recent $4.80 resistance level next week or retest the $4.40 support line? As always do your own research and good luck.


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## notting (21 March 2015)

Shows the Riets are a pretty standard play for safe yield.
Remember what to do in a month or two when the thing turns on the sniff of the FED thinking that perhaps the way things are is actually not the new normal.


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## nulla nulla (20 March 2017)

There hasn't been a lot of recent activity in this thread so I though it may be worthwhile throwing up a long term chart as well as a table comparing the share information over the past three or so years.












Disclaimer: The table information is taken from the A-REIT Tables posted previously. Accordingly if there were any errors in those tables then they have been repeated in this table.


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## sptrawler (21 August 2019)

Stockland had a massive 70% drop in profit, from last year, most can be attributed not to residential real estate but to shopping centres.

https://www.abc.net.au/news/2019-08...ession-hits-centres/11433972?section=business
The share price is back to $4.30, as a long term investment, it has to be looked on as a dividend play. IMO


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