Australia's Stockland Corporation slips on lower quarterly net sales

Stockland

Mon 04:41

** Shares of Stockland Corporation SGP.AX fall as much as 4% to A$4.06, their lowest since October 6
** Stock logs its largest intraday pct loss since September 11
** Diversified property group reported Q1 2027 net sales of 1,506 units master planned communities (MPC), down from 2,117 units last year
** Co also reported MPC enquires of 10,452 down from 36,551, a year ago
** Adds high interest rates and recent tax changes are slowing property market
** Stock down 28.7% YTD, including the day's moves

 (Reporting by Tejas Harish in Bengaluru)
 ((tejas.harish@thomsonreuters.com;))