What Happened to Sunland’s Share Price?
Shares in Sunland Group [ASX: SDG] rose over 11% today. Sunland is a national property developer. It was trading at $1.94 at the time of writing. The stock is still well off its all-time high it set in 2007, but the stock has been trending up since 2012.
Why Did This Happen to Sunland Shares?
The stock market is pricing in strong earnings for the company. Last week the company announced a half yearly net profit of $3.3 million. In its results presentation released to the market today, the company increased its full year guidance from $20 million to $28 million.
What Now for Sunland?
With an improving property market, the outlook is reasonably bright for Sunland. Its portfolio of properties should continue to increase in value over the course of the real estate cycle. If you’d like to know more about that cycle, click here .
Callum Newman
Editor, Markets and Money