Treasure Chest | 10:39 AM
FNArena's Treasure Chest reports on money making ideas from stockbrokers and other experts. Today's idea is Stockland Group.
By Danielle Ecuyer
FNArena's Treasure Chest reports on money making ideas from stockbrokers and other experts.
Whose Idea Is It?
Citi
The subject:
Stockland Group ((SGP)) and Mirvac Group ((MGR)).
Residential REIT share prices have fallen around -30% since last October following the RBA's 75 basis point increase in the cash rate over three hikes, with another rate rise still a possibility.
Concerns over the outlook for the sector have been compounded by major Federal Budget changes to negative gearing and capital gains tax, which are expected to place further pressure on the housing market.
Citi believes the share prices of residential REITs Stockland and Mirvac are now discounting an historically severe housing downturn.
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