News: SGP Stockland Corp Says In Residential Market, Challenging Conditions To Continue In 2019, page-27

It's all in their reporting.

- Statutory Profit down 56.2% (Will continue drop if land valuations continue to fall)
- 1/3 of profits dependent on Residential Communities (Down 21.8%, 40m drop), concentration in NSW and VIC which are most affected by downturn
- Logistics and Retirement growth not able to offset this drop (9m growth)
- Macro conditions for low wage growth and spending predicting for coming years

For the div, there is probably better sectors to choose from till next div date
For value-buy, I don't see substantial earnings growth (if any), and no rush for entry until things start to turn. Which means more downward pressure which may be neutralized by buy-back.