Stockland is a property trust which invests and manages in retail and commercial properties in Australia and is a member of the S&P/ASX 200.
The Group also provides property development and management services, hotel management services and other related services including financing.
Stockland group announced today that it will extend its on-market share buy-back to as much as 10% of issued capital, as it seeks to increase return via capital management.
The company also revealed that it had entered into an agreement to sell its 55% stake in the Moorebank Industrial Property trust to Qube logistics for $123 million.
CEO John Schroder said the sale supported Stockland’s strategy to reweight its commercial property portfolio when assets are no longer in line with the company’s strategy.